NCC Fine: MTN Agrees To Pay N50bn, Withdraws Suit

MTN Nigeria has agreed to pay N50 billion (US$250 million) toward the record N780 billion fine by Nigerian Communications Commission (NCC) for not disconnecting unregistered SIM cards after deadline. The telecoms giant has also baulked down its attempts to challenge the fine at the law courts.

The telco was initially fined N1.04 trillion based on a fine of $1,000 for every unregistered SIM card in use. Following pressure, NCC thereafter reduced the fine to N780 billion.

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The telecoms firm said in an effort to achieve an amicable settlement, it has also agreed to withdraw the suit from the Federal High Court in Lagos.

It said that it would pay N50 billion to the coffers of Federal Government on the basis that the amount will be applied towards a settlement where one is eventually and hopefully arrived at.

Source:DailyIndependent