MTN Nigeria pays last tranche of N330bn registration fine

Leading telecom operator, MTN Nigeria Communications Plc (MTN Nigeria), has paid a last tranche of N55 billion to the Nigerian Telecommunications Commission (NCC), a development that brings to a closure the saga over the fine imposed on the firm by the regulator in 2015.

NCC had levied a staggering $5.2 billion (N1.04 trillion) fine on MTN Nigeria in October 2015 over the company’s failure to disconnect over five million unregistered SIM cards in its network within the stipulated deadline.

However, following a series of negotiations, which ultimately involved the governments of Nigeria and South Africa, the penalty was reduced to $1 billion (N330 billion), payable over a three-year period. In addition, MTN was required to become listed on the Nigerian Stock Exchange (NSE) and conform with the Code of Corporate Governance for the telecommunications industry.

In a statement on Friday May 31, 2019 signed by the Uto Ukpanah, the Company Secretary, MTN Nigeria announced that it had completed payment of the fine.

“We wish to announce that MTN Nigeria Communications Plc (MTN Nigeria) paid the final installment of N55 billion to the Nigerian Telecommunications Commission (NCC) on May 24, 2019. This completes the payment of the N330 billion negotiated settlement agreed between NCC and MTN Nigeria on June 10, 2016 in relation to the fine imposed on MTN Nigeria in 2015 as a result of a dispute over the disconnection of unregistered and improperly registered SIMs,” the company said.

A fortnight ago, the telecom giant had listed its shares on the local bourse by introduction.