Calendar: Scheduled Dates For MTN’s Fine Payment

Must Read

Spectranet and Nokia to provide 100+ Mbps ultra broadband services with FTTH to home and business users in Nigeria

Nokia GPON solution helps Spectranet better serve its customers by adding FTTH services to its current portfolio of...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Midea Showrooms And Stores In Nigeria

If you’ve been wondering where Midea showroom and stores are in Nigeria below is a list of Showrooms and...
- Advertisement -
- Advertisement -

MTN Nigeria has paid the second installment of N30 billion ($98 million) as part payment to the Federal Government, of the N330 billion fine imposed on it by the Nigerian Communications Commission (NCC) for failing to disconnect about 5.1 million unregistered SIM cards.

The company, which was originally fined $5.2 billion (N1.04 trillion) in October 2015, had the NCC slash the fine to N330 billion, after consultations that lasted for over eight months. The NCC also agreed a staggered payment arrangement which will last till May 31, 2019.

So far, MTN has paid N80 billion of its total fine. It paid N50 billion last year, as “goodwill” payment to show the NCC that is was serious, and then N30 billion today.

Read:  More Nigerians Have Access to Cell Phones Than Toilets - UNICEF

Here is MTN’s scheduled payments

  • MTN is expected to pay a further N30 billion on March 31, 2018;
  • Another N55Billion on December 31, 2018;
  • A further N55 billion on March 31, 2019 and
  • The final N55 billion on May 31, 2019.
Read:  BROKER PERFORMANCE REPORT: TOP TEN STOCKBROKERS FOR THE WEEK (31/07/2017 - 04/08/2017)

Asides from the payment, MTN, Africa’s largest telecommunications company, was billed to enlist its subsidiary, MTN Nigeria, on the Nigerian Stock Exchange.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

FAAC: States & Local Governments Received N186.81bn & N140.86bn Respectively in October 2019

The Federation Account Allocation Committee (FAAC) disbursed the sum of N693.52bn to the three tiers of government in October...

Ericsson Radio wins the Network Infrastructure Initiative of the Year  

Ericsson Radio System offers service providers a means to transition smoothly to 5G Telcos have the opportunity to invest in a solution that...

SBI Media Group and Its Boss Bag Multiple Awards at MWA 2019

Nigeria’s torch was lighted brightly and held aloft majestically at the MarketingWorld Awards 2019 as SBI Media, one of Nigeria’s top 7 largest media...

OPPO Launches High-End Reno2 Series in Nigeria to Empower Users’ Creativity (Photos)

November 13, 2019, Lagos, Nigeria – OPPO yesterday launched the new Reno2 Series in the Nigerian market by 7 pm at the LASWA Jetty,...

More Articles Like This