We Have Paid N80 Billion Out Of N300 Billion Fine – MTN Nigeria

MTN Nigeria has disclosed that it has so far paid a total of N80 Billion this year as part of the N300 billion fine settlement imposed on the company by the Nigeria Communication Commission (NCC).

The statement was disclosed by MTN Nigeria Chief Executive Officer, Ferdi Moolman, speaking after the NCC formally declared MTN Nigeria as the winner of the 2.6GHz spectrum auction.

He said "we are also delighted that the matter of the fine imposed by the NCC was amicably settled in the interest of all parties. I am pleased to announce that the first payment of N30 billion in the terms of settlement has already been disbursed to the NCC. In addition to the earlier payment of N50 billion which we paid in good faith and without prejudice on February 24, this means we have now paid a total of N80 billion.

Speaking on th 2.6Hz Spectrum, Moolman said “We are very pleased with this development at this time, which is a further step in the right direction for Nigeria. Indeed, MTN is fully aligned and supports the NCC’s objective to deliver broadband services to present and future generations of subscribers, in line with the National Broadband Plan of 2013.”

The 2.6GHz acquisition, he said has set the stage for the roll-out of 4G LTE broadband internet services across the country, starting in the major cities of Lagos and Abuja.

He added “This license acquisition further demonstrates MTN’s abiding faith in the future of Nigeria and the resilience of the Nigerian economy. MTN continues to believe in Nigeria and we have expressed this belief in the level of our investment, which currently stands at approximately USD 15 billion and counting. We strongly believe that there is need for significant levels of investment in broadband infrastructure and services to truly launch Nigeria into the information age. We are honoured to be the arrowhead.