Telecom giant, MTN Nigeria, has completed payment of N330 billion fine to the Nigerian Communications Commission (NCC)

The Telecom company disclosed in a statement on Friday, that it has paid the final N55 billion which competes its payment of the N330 billion negotiated settlement between it and NCC in 2016.

The statement signed by the Senior Manager, External Relations, Funso Aina, quoted MTN’s Chief Corporate Relations Officer, Tobechukwu Okigbo, as saying that 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 time frames,” the statement said.

“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.”

The NCC, it would be recalled, had imposed a N1.04 trillion fine on MTN for failing to de register unregistered SIM cards. The Telecom company and the regulator eventually negotiated reduction of the fine to N330 billion.

Part of the conditions for the reduction was for the company to list on the Nigerian Stock Exchange.