Connect with us

BUSINESS

MTN Pays Nigeria N110b Out of N330 billion Fine

Published

on


Advertisements

The Nigerian Communications Commission says telecommunication giant, MTN Nigeria has paid a total of N110 billion into the coffers of the federal government out of the N330 billion fine imposed on it.

Executive Vice Chairman of the NCC, Prof. Umar Danbatta, disclosed this at a workshop on Code of Corporate Governance organised by the commission in Kano on Thursday.

NCC had in October 2015 imposed a fine of N1.04 trillion on MTN for irregular registration of subscribers.

However, after prolonged negotiation with both the regulatory agency and the Federal Government, the company had the fine reduced to N330 billion.

Danbatta said the matter had been resolved with an agreement for settlement over a three-year period signed between the agency and MTN.

Advertisement

He said the payment was spread over a three-year period because the intention was not to snuff life out of MTN.

He however disclosed that the commission was rejigging its regulatory activities to ensure that telecommunications’ consumers get value for their money.

The NCC boss said, “Current evaluation report of the state of the industry suggests that whilst not understating the impact of other external and fiscal issues confronting the sector, that most challenges negatively affecting the health of operators in the sector today are attributable to poor governance issues.

“It is currently rejigging its regulatory oversights in the areas of ensuring that consumers get cost effective value for money spent on telecommunication services; and that service delivery by providers are qualitative and efficient.

[Widget_Twitter id=”1″]

Advertisement

COVID-19 STATS

Advertisement
FEATURED10 mins ago

Okuama Soldiers’ Killing: ‘I’m Here But Highly Embarrassed’ – Delta Monarch On Army Wanted List Turns Himself In To Police, Handed Over To Military

FEATURED35 mins ago

‘Hit The Ground Running Because The Entire State Is Dirty’ – Oborevwori Gives ‘Marching Order’ To Taskforce On Environment

FEATURED1 hour ago

Insecurity In Delta: Police Arrest Syndicate Behind Rising Phone Thefts, Recover Pistol During Stop And Search

KFC
FEATURED14 hours ago

KFC In Discriminatory Law Violation In Lagos As FAAN Shuts Down Outlet Over Gbenga Daniel’s Son Alleged Maltreatment

FEATURED1 day ago

BREAKING: Names, Photos Of Persons Linked To Okuama Soldiers’ Killing Released As DHQ Declares Amagbein, Professor, Six Others Wanted

Ateke Tom
FEATURED2 days ago

Ateke Tom Receives Certificate, Staff Of Office From Gov Fubara As First-class King

FEATURED2 days ago

NNPCL Denies Price Adjustment Rumours For Fuel, Diesel

FEATURED2 days ago

WABMA Rector, Okere To Speak At Texas Southern University 42nd Communication Week

FEATURED2 days ago

BREAKING: Gallant Okuama 17 Soldiers Laid To Rest As Tinubu, Governors, Other Heavyweights Pay Final Respects

COMMUNITY REPORT2 days ago

Heartless Pregnant Woman! Inside Details Of How She Faked Own Kidnap, Collected N2mn Ransom From Husband, Shared Loot With Boyfriend

FEATURED2 days ago

3 Truckloads Of Lithium, Other Assorted Solid Minerals Intercepted In Ilorin, As EFCC Arrests 5 Suspects

militants
FEATURED2 days ago

Untold Story Of Militant Leader Who Killed 17 Soldiers In Okuama — His Rise And Shocking Exploits

Advertisement
  Â