The Nigerian Communications Commission has lifted a disconnection notice placed on Globacom after it reached an interest payment agreement with MTN Nigeria.
Both telcos ended a 15-year-long dispute over interconnection fees after MTN agreed to accept N2 billion in interest payments instead of the original sum of N3 billion, TechCabal exclusively reported
this week.
Globacom had initially paid N1.6 billion as the principal debt but had disputed the interest accrued on the debt, a source close to the matter told TechCabal. This prompted the NCC to set a timeline of 21 days for both parties to agree on the interest amount and when it would be paid.
The NCC intervened to prevent any possible disruptions to the over 61 million subscribers on the Globacom network.
“The Commission reiterates that strict adherence to the terms and conditions of licenses, particularly those delineated in interconnection agreements, is imperative for all Mobile Network Operators (MNOs) and other licensees within the telecommunications industry,” said the NCC statement.
Henceforth, mobile network operators must submit records and regular updates regarding interconnectivity to the NCC. The commission also said it would adopt a transparent approach towards industry indebtedness.
