MTN Nigeria, Nigeria largest mobile network operator, has said it has rebuilt its relationship with the Nigerian Communications Commission (NCC) after the settlement of the huge fine imposed on it over infractions that had to do with Subscriber Identity Module (SIM) card registration.
Karl Toriola, chief executive officer, said the telco has been excessively defined by the monumental fine, saying: “We are thankful to the regulatory body we interface with primarily the NCC and a host of other regulators we interface with and we have taken a policy of zero tolerance when it comes to compliance issue and leaning into government policies and supporting government policies.”
He spoke on Arise TV’s ‘The Morning Show’ as part of activities to commemorate the MNOs 20 years of operations in Nigeria.
Toriola said: “We successfully engaged with the government and brought that (fine) to a close. It’s a way back behind us. We’ve fully paid the final agreed sum on the fine, and we were listed by introduction on the Stock Exchange as part of the agreement.
“We’ve built our relationships, and we’ve also redefined ourselves to take compliance to government regulatory policies as non-negotiable.
“Beyond that, we’ve taken a position of leaning into government policies. So, I can’t actually tell you we have challenges with our regulators now; on the contrary, I think we have a very strong relationship.”
It would be recalled that the Federal Government had imposed a fine of N1.04 trillion on the firm over SIM registration infractions which included its failure to comply with the provision of the NCC Telephone Subscribers Registration Regulations 2011 and disconnect 5.2 million improperly registered SIM lines within the stipulated timeline.
Part of the punishment was that MTN must apologise to Nigerians, subscribe to the compulsory observance of the Code of Corporate Governance for Telecoms Industry, and ensure its listing on the Nigerian Stock Exchange (NSE).
The MTN made spirited efforts to reduce the fine by engaging in a series of negotiations including diplomatic shuttles, resulting in the reduction of the penalty to N330 billion.
According to the terms of the settlement, it paid the fine six times, and it was listed on the NSE.
