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.’
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.
Other dates of payments include: March 31, 2017 (N30 billion); March 31, 2018 (N55 billion); December 31, 2018 (N55 billion); March 31, 2019 (N55 billion) and the balance will be in May 31, 2019 (N55 billion).
In another development, MTN in a statement made available to journalists, yesterday, said NCC has declared it winner of its latest auction for a 10-year frequency spectrum licence for the 2.6GHz band, which guarantees superior performance for wireless networks, especially 4G LTE services.
The NCC, according to the statement, had earlier confirmed that MTN’s bid was in full compliance with the relevant provisions of the Information Memorandum (IM) for the exercise in which MTN emerged as sole approved bidder.
Although Nigeria is one of 28 African countries that currently offer 4G/LTE services, the rate of penetration is restricted to a few major cities. As such, MTN’s success in this auction, according to market watchers, is a big boost to its plan to deliver global mobile broadband and LTE 4G services to over 60 million customers in Nigeria.
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.’
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.
Other dates of payments include: March 31, 2017 (N30 billion); March 31, 2018 (N55 billion); December 31, 2018 (N55 billion); March 31, 2019 (N55 billion) and the balance will be in May 31, 2019 (N55 billion).
In another development, MTN in a statement made available to journalists, yesterday, said NCC has declared it winner of its latest auction for a 10-year frequency spectrum licence for the 2.6GHz band, which guarantees superior performance for wireless networks, especially 4G LTE services.
The NCC, according to the statement, had earlier confirmed that MTN’s bid was in full compliance with the relevant provisions of the Information Memorandum (IM) for the exercise in which MTN emerged as sole approved bidder.
Although Nigeria is one of 28 African countries that currently offer 4G/LTE services, the rate of penetration is restricted to a few major cities. As such, MTN’s success in this auction, according to market watchers, is a big boost to its plan to deliver global mobile broadband and LTE 4G services to over 60 million customers in Nigeria.
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