Out of the 330-billion-naira fined telecommunications company, MTN Nigeria for failing to disconnect unregistered SIM cards, a total of 110 billion naira has been paid into the coffers of the federal government.
The Nigeria Communications Commission, NCC confirmed the payment.
The Executive Vice Chairman, NCC, Prof. Umar Danbatta, disclosed this at a workshop on Code of Corporate Governance organised by the regulatory commission in Kano on Thursday.
He also stated that the commission was rejigging its regulatory activities to ensure that telecommunications consumers get value for their money.
Recall that the NCC had in October 2015 imposed a fine of 1.04 trillion on MTN but after prolonged negotiation with both the regulatory agency and the Federal Government, the company had the fine reduced to 330 billion naira.
Danbatta said the fine had been resolved between the regulatory agency and the telecommunications operator with an agreement for settlement over a three-year period.
He added that the payment of the fine was spread over a three-year period because the intention was not to snuff life out of MTN.
Danbatta said the NCC is currently “rejigging its regulatory oversights in the areas of ensuring that consumers get cost-effective value for money spent on telecommunications services; and that service delivery by providers are qualitative and efficient.”