MTN has paid its final installment to NCC: payment settlement.
One of Nigeria Telecommunication giant , MTN, has paid the final installment of its negotiated settlement to the Nigerian Communications Commission (NCC)
The communication company paid N55 billion to the NCC as the sixth payment of the settlement it had with the commission.
The payment is part of the N330 billion fine negotiated settlement agreed between the NCC and the company in 2016.
MTN Nigeria Plc says it has paid the sixth and final installment of N55 billion negotiated settlement to the Nigerian Communications Commission (NCC).
The News Agency of Nigeria (NAN) reports that the chief corporate relations officer of MTN Nigeria, Tobechukwu Okigbo, made the disclosure in a statement on Friday, May 31, in Lagos.
According to him, the amount completes MTN’s payment of the N330 billion negotiated settlement agreed between the NCC and the company in 2016.
“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 billion 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.
“I thank the NCC for 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,” he said.
NAN reports that MTN and the NCC reached a negotiated settlement in relation to the fine imposed on MTN in 2015 as a result of a dispute over the disconnection of unregistered SIM cards in its subscriber base.