MTN Nigeria has paid N110bn SIM registration fine into the coffers of the government.

This amount paid was out of the N330bn imposed on MTN by the Nigerian Communications Commission (NCC).

The NCC had in October 2015 imposed a fine of N1.04tn on MTN for irregular registration of subscribers.

However, after prolonged negotiation with both the regulatory agency and the Federal Government, the company had the fine reduced to N330bn.

Executive Vice Chairman of the NCC, Prof. Umar Danbatta, disclosed this at a workshop on Code of Corporate Governance organised by the commission in Kano on Thursday.

He also revealed that the commission was organizing its regulatory activities to ensure that telecommunications’ consumers get value for their money.

Prof. Danbatta said the matter had been resolved with an agreement for settlement over a three-year period signed between the agency and MTN.

He said the payment was spread over a three-year period because the intention was not to snuff life out of MTN.

The NCC boss said, “Current evaluation report of the state of the industry suggests that whilst not understating the impact of other external and fiscal issues confronting the sector, that most challenges negatively affecting the health of operators in the sector today are attributable to poor governance issues.”

He added that they are currently organizing their regulatory oversights in the areas of ensuring that consumers get cost effective value for money spent on telecommunication services.

As well as to ensure that service delivery by providers are qualitative and efficient.