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SIM Infraction: MTN Completes Payment of N330bn Fine

Telecomms giant, MTN, announced, Friday, that it beat the May 31, 2019 deadline that the federal government gave it 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 confirmed, via a press release it issued on Friday, that it paid the said amount to the Consolidated Revenue Account of the Central Bank of Nigeria (CBN) on May 24.

Confirming the payment in the release, Tobechukwu Okigbo, Chief Corporate Relations Officer of MTN, declared 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 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.

In the same vein, Sunday Dare, Executive Commissioner, Stakeholder Management at NCC, also confirmed the payment on Friday, saying MTN paid the balance of N55 billion on Friday, May 24, 2019.

Dare said: “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.”

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