Business & Finance

MTN Pays Another N30bn of N330Bn NCC Fine

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Telecommunications firm, MTN has said it has paid additional N30 billion to the Nigerian Communications Commission (NCC) as part of the N330 billion fine slammed on it for contravening regulatory orders in the country.

The new N30 billion now increases the payment made by the South African firm on the fine till date to N80 billion, after an earlier N50 billion paid on February 24, which was done in ‘Good Faith.’

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Meanwhile, NCC has confirmed receipt of the additional N30 billion from MTN.

According to agreement reached by NCC and MTN earlier in the month in Abuja, MTN was expected to pay N30 billion into NCC’s Treasury Single Account (TSA) with the Central Bank of Nigeria (CBN) 30 days from the date of the agreement dated June 10, 2016.

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