Negotiated settlement: MTN pays N55bn final instalment to NCC

MTN Nigeria Plc says it has paid the sixth and final instalment of N55 billion negotiated settlement to the Nigerian Communications Commission (NCC).

The Chief Corporate Relations Officer of MTN Nigeria, Mr Tobechukwu Okigbo, made the disclosure in a statement on Friday in Lagos.

According to him, the amount completes MTN’s payment of the N330 billion negotiated settlement agreed between the NCC and the company in 2016.

“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 time frames.

“I thank the NCC for 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,” he said.

It was reported that MTN and the NCC reached a negotiated settlement in relation to the fine imposed on MTN in 2015 as a result of a dispute over the disconnection of unregistered SIM cards in its subscriber base.