MTN pays first instalment of fine
MTN Nigeria has paid N30 billon to the Nigerian Communications Commission (NCC), its first payment towards the settlement of a N330 billion fine, MTN Nigeria CEO Ferdi Moolman said on Wednesday. The total fine equates $1.7 billion.
In October last year, the company was fined $5.2 billion which was subsequently reduced .The fine is for missing a deadline to disconnect 5.1 million unregistered subscribers.
Moolman said the payment was in addition to a payment of N50 billion ($250m) made in “good faith” in February. This means MTN has to date paid N80 billion ($282.25million).
Meanwhile, the company said it has won a 10-year frequency spectrum licence for the 2.6GHz band at auction. The licence will be used to deploy super fast, long term evolution wireless networks.
Moolman said MTN Nigeria subscribers could expect distinct improvements in browsing speed, quality and experience. “This means that they will have fast access to high definition video streaming, as well as conferencing and calling, lag-free music streaming, and improved data uploads and downloads,” he said in a statement.
He said MTN paid N18.96 billion to the NCC for the licence. According to MTN, the NCC has described this spectrum as a “significant trigger for a broadband revolution that will unlock benefits such as greater coverage, access, affordability and innovation, with the customer at the centre of these gains.”
MTN will increase its capital expenditure in Nigeria in 2017, substantially as it invests R11.1 billion in upgrading and expanding its wireless and fixed-line network in that country.
The award comes after MTN said earlier this month that it would more than double its spending in Nigeria in the current fiscal year after agreeing to pay a heavily reduced fine of $1.7 billion for missing a deadline to deactivate more than 5 million unregistered SIM cards used on its Nigerian network.
The Nigerian Communications Commission (NCC) had earlier announced that MTN had emerged as the sole approved bidder for the new licence, MTN said in a statement.
“With the 2.6 GHz band, we expect to roll out and provide the full range of LTE (Long Term Evolution mobile broadband) services to Nigerians, empowering Nigeria with the latest mobile broadband technology,” said MTN Nigeria Chief Executive Ferdi Moolman.
“This licence acquisition further demonstrates MTN’s abiding faith in the future of Nigeria and the resilience of the Nigerian economy.”
MTN is the largest mobile phone operator in Nigeria with 57 million subscribers, and the country accounts for about a third of its revenues.
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