MTN Nigeria Completes last tranche of N330bn on SIM Infraction Fine

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Ahead of the May 31 deadline given to MTN by the federal government to pay the balance of N55 billion, being the last tranche of the N330 billion SIM card infraction fine imposed on it by the Nigerian Communications Commission (NCC), the telecoms company, on May 24, paid the said amount to the Consolidated Revenue Account of the Central Bank of Nigeria (CBN).

The Executive Commissioner, Stakeholder Management at NCC, Sunday Dare, who confirmed the payment to Naija247news Friday, said MTN paid the balance of N55 billion last week Friday (May 24).

“MTN paid the balance of N55 billion last Friday into the Consolidated Revenue Account that is seated with the CBN and NCC has been duly notified of receipt of the money into the Consolidated Revenue Account, where the money for other tranches were also deposited,” Dare said in a telephone call.

Also, in a statement issued by MTN Friday, its Chief Corporate Relations Officer, Tobechukwu Okigbo, who also confirmed the payment, said the successful resolution of the fine was the outcome of active collaboration between the NCC and MTN.

“We are very pleased to have completed the payment of the N330 billon negotiated settlement with the NCC. We are particularly gratified to be in a position to have fully met the terms of the settlement within the agreed timeframes. I would like to thank the NCC for their constructive and collaborative approach to this issue, and believe that we emerge from it with a stronger relationship, focused on ensuring maximum value is delivered to our people, from a strong and growing telecoms sector,” Okigbo said.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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