MTN Remits N110 Billion Into Govt Coffers

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Telecommunications giant, MTN Nigeria has remitted a total sum of N110 billion into the coffers of the Nigerian government.

The sum was part of the N330 billion agreed with the government as fine for failure to delist unregistered SIM cards on its network in 2015.

Recall that the Nigerian Communications Commission (NCC) had in October 2015 fined the network N1.04 trillion for 200,000 irregularly registered SIM cards.

A protracted negotiation had seen the fine reduced to N330 billion.

The Executive Vice Chairman of the NCC, Prof. Umar Danbatta, on Thursday disclosed that N110 billion of the final sum had been paid to the Nigerian government by the telecom firm.

Danbatta made the disclosure at a workshop on Code of Corporate Governance organised by the commission in Kano on Thursday, The Punch reported.

He said the payment of the fine was agreed to be paid over a three-year period.

He said the three-year agreement was made as the intention was not to kill the firm’s operations in the country.

The NCC boss said the commission would continue to refine its regulatory activities to ensure the protection of consumers.

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