• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

MTN pays N165 billion out of NCC’s N330 billion fine

Damilare Famuyiwa by Damilare Famuyiwa
August 10, 2018
in Business News, Company News
MTN Nigeria

MTN Nigeria

Share on FacebookShare on TwitterShare on Linkedin

The Executive Chairman, Nigerian Communications Commission (NCC), Professor Umar Danbatta has made the disclosure that MTN Nigeria has so far been able to pay 60 per cent of the fine placed on it by the commission.

NCC, had in 2015, placed a N1.04 trillion fine on the telco giant for non-compliance with a deadline set by the commission to disconnect all non-registered sim cards.

The move follows accusations by mobile phone users that the regulator had failed to bring operators to account for poor services to subscribers.

RelatedStories

9mobile, MTN to roll out National Roaming nationwide before end of July 

9mobile, MTN to roll out National Roaming nationwide before end of July 

July 3, 2025
Karl Toriola, MTN Nigeria

NCC vs MTN: AGF to decide on criminal charges facing CEO Karl Toriola 

July 2, 2025

After prolonged negotiation with both the regulatory agency and the Federal Government, the company had the fine reduced to N330 billion with an agreement for settlement being spread for over three-year period.

By the terms of agreement, MTN was expected to pay N30 billion into NCC’s Treasury Single Account (TSA) with the Central Bank of Nigeria (CBN) in June while the remaining balance was expected to be discharged as follows: N30 billion on 31 March 2017; N55 billion on 31 March 2018; N55 billion on 31 December 2018; N55 billion on 31 March 2019 and N55 billion on 31 May 2019.

In a recently-held interview, Danbatta said MTN Nigeria and the regulatory body are on course as far as the fine is concerned.

According to Dambatta, MTN had up-to-date paid N165 billion and would remit another N50 billion in addition to the rest of the installment payments before the year 2018 runs out.

Dambatta said the N165 billion paid, has since been remitted to the Consolidated Revenue Account of the federation in line with extant laws.

However, MTN is expected to list on the Nigerian Stock Exchange (NSE) on or before May 2019, as contained in the agreement over the 2015 fine settlement between the regulator and the telecom company.

The long-awaited and highly speculated IPO

In the meantime, MTN has revealed that it has made some progress on its planned listing on the NSE. According to the President MTN Group, Rob Shutter, MTN will list on the Nigerian bourse before the end of this year.

The Securities and Exchange Commission (SEC) recently denied receiving any application from MTN Nigeria Limited regarding its proposed Initial Public Offering (IPO) this has raised concerns on the preparedness of the company for the much-awaited listing.

Talks about the IPO have dominated business reports throughout the year, with rife speculations about the actual details/entailment.

An earlier report had it that the MTN shares’ listing would happen in June 2018. There have also been conflicting reports about the exact amount the company wants to raise through the IPO, including a report that it was hoping to raise about ₦100 billion. Last month, an MTN spokesperson debunked rumours that MTN had ever hinted at issuing as much as $500 million-valued shares during the IPO.


Follow us for Breaking News and Market Intelligence.
Tags: MTNNCC
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

Related Posts

9mobile, MTN to roll out National Roaming nationwide before end of July 
Corporate deals

9mobile, MTN to roll out National Roaming nationwide before end of July 

July 3, 2025
Karl Toriola, MTN Nigeria
Legal & Regulations

NCC vs MTN: AGF to decide on criminal charges facing CEO Karl Toriola 

July 2, 2025
NCC,
Renewables & Sustainability

NCC, REA move to cut $350 million annual diesel cost for Nigerian telecom operators 

July 2, 2025
Top 10 states with the highest number of internet users in Nigeria 
Exclusives

Starlink, Spectranet, other ISPs lose customers as Nigerians cut internet spending 

July 2, 2025
MTN
Companies

NCC approves three-year national roaming deal between MTN Nigeria and 9Mobile 

July 2, 2025
Telecom operators moots price review, says current rate unsustainable
Financial Services

Banks clear 95% of N180 billion USSD debt, 3 lenders still owing – ALTON 

June 19, 2025
Next Post
9mobile court case. Investors sue 9mobile, Owners of 9mobile, Teleology, 9mobile, KPI, NCC, CBN

Shareholders warn CBN, NCC, amongst others against 9mobile sale

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Alleged $854K, N590m fraud: Court to decide Afriq Arbitrage CEO’s fresh bail request on July 22 
  • Trump sets August 1 tariff deadline as global trade talks intensify 
  • CapitalSage Holdings appoints former ETG Executive Tarun Chawla as Executive Director to lead agri-commodities and FMCG subsidiaries 

Follow us on social media:

Recent News

Federal High Court, REA

Alleged $854K, N590m fraud: Court to decide Afriq Arbitrage CEO’s fresh bail request on July 22 

July 7, 2025
Trump halts tariff hikes on most trade partners, raises China duties to 125% 

Trump sets August 1 tariff deadline as global trade talks intensify 

July 7, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics