Small By Small: MTN Pays N50bn Out Of N780bn NCC Fine

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MTN pays N50bn – Telecoms operator MTN has begun paying part of the fine levied against it by the National Communications Commission.

MTN pays N50bn
MTN pays N50bn

MTN had originally been fined N1.04 trillion by the NCC for failure to disconnect 5.1 million unregistered lines, but the fine was reduced to N780 billion after much pleading by the company.

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MTN had taken the matter to court seeking an injuction against the fine, but have now withdrawn the case and paid N50 billion.

“In an effort to achieve an amicable settlement, MTN has agreed to withdraw the matter from the Federal High Court in Lagos,” a statement by MTN read.

“Pursuant to the ongoing engagement with the Nigerian Authorities, MTN Nigeria has today made a… good faith payment of 50 billion naira ($250 million).”

Wana

Wana

Quo non Ascendam. Writer. E-mail: wana@360nobs.com

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