MTN Pays N55bn💰 Balance of SIM Infraction Fine

MTN Nigeria Plc has paid N55bn, which is the remaining balance of the N330bn SIM infraction fine imposed on the telecom company by the Federal Government.

Officials at the NCC and sources close to the mobile network operator confirmed this to our correspondent on Friday, saying the operator had met the May 31, 2019 deadline given by the regulatory body.

“Specifically, MTN began the payment structure with the payment of N30bn into NCC’s Treasury Single Account with the Central Bank of Nigeria 30 days from the date of the agreement dated June 10, 2016,” NCC had said.

“In the agreement reached by the parties involved, in a way to avoid a decision that is likely to cripple business interest of the operators the commission regulates, it was also agreed that MTN shall apologise to Nigerians, subscribe to the compulsory observance of Code of Corporate Governance for the telecom industry; as well as undertake immediate steps to ensure its listing on the NSE.”

Speaking on the state of MTN fine payment at the valedictory service organised for the Minister of Communications, Adebayo Shittu, the Executive Vice Chairman of NCC, Prof. Umar Danbatta, said the Commission had succeeded in empowering Nigerians “to control, manage and own telecommunications companies in Nigeria by owning shares in MTN Nigeria.”


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