N330bn: MTN Pays 33% Of Total Debt Owed Nigeria
The Nigerian Communications Commission NCC, says MTN Nigeria has paid a total of N110bn out of the N330bn imposed on it by the regulatory house, into the coffers of the federal government.
Executive Vice Chairman of the NCC, Prof. Umar Danbatta, revealed this at a workshop on Code of Corporate Governance organised by the commission in Kano on Thursday.
Recall that the NCC had on October 20, 2015, imposed a fine of N1.04 Trillion on MTN Nigeria for infraction of the provisions of the NCC (Registration of the telephone subscribers) Regulations, 2011; for failure to disconnect 5.1million improperly registered lines within the prescribed deadline.
The fine was later reduced to N330Billion, after negotiations and re-negotiations.
It was agreed that after the initial payment of N50 billion earlier made by MTN to the government, the balance of N280 billion would be made in six tranches within a period of three years.
NCC said the payment was spread over a three-year period because the intention was not to snuff life out of telecommunications giants.
He also disclosed that the commission was reorganizing its regulatory activities to ensure that telecommunications’ consumers in Nigeria get value for their money.
“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,” the NCC boss said.