The Nigerian Communications Commission (NCC) has approved the renewal, and consequent extension of the tenure of MTN Nigeria’s operating spectrum in the 900MHz and 1800MHz frequency bands for a period of five years for N18.8 billion ($94.2 million).

With this, MTN’s operating spectrum which was issued along with the Digital Mobile Licence (DML) in 2001 with an original expiry date of 31 August 2016 has now been extended to 31stAugust, 2021.

The license extension notification was contained in a letter dated 2 November, 2015, and signed by the acting executive vice chairman of the NCC, Prof. Umaru Dambatta according to the operator.

According to the letter “MTN will, however, be required to pay the sum of $94,225,152.75 as

spectrum fee for the five year extension period.” The amount is payable as a spectrum fee for the five-year extension period by no later than 31 December 2015 and conditional upon MTN fulfilling all its regulatory obligations.

It will be recalled that in February 2001, pursuant to one of the most transparent mobile licence auctions in the world, the NCC issued Digital Mobile Licenses (DML) to three pioneer mobile operators. The licences were bundled with spectrum in the 900MHz and 1800MHz frequency bands. MTN Nigeria paid $285 million for 15 year licence renewable afterwards. .

Amongst other authorisations, MTN also holds a Unified Access License (UASL) and a third generation (3G) spectrum license through which it provides a full bouquet of digital services to its esteemed customers throughout Nigeria.

According to Akinwale Goodluck, corporate services executive of MTN, “We view this extension as a demonstration of confidence in MTN’s capacity to continue to provide ground-breaking and innovative services to its customers, and another milestone in the evolution of the Nigerian communications industry.”

 

http://leadership.ng/news/471877/ncc-okays-renewal-of-mtn-mobile-licence-for-n18-8bn

Not bad. Add this new money to the one they owe NCC before, who will now say Nigeria is still broke?

Mtn b like 'waht a profitable country to invest' lol