Telecommunication giant, MTN Nigeria, has confirmed the payment of N72 billion to the Nigerian Communications Commission for the renewal of its Universal Access License and spectrum license for local wireless loop for another 10 year period.

The company secretary, Uto Ukpanah, in a letter to the Nigerian Exchange limited noted that the NCC has acknowledged the payment of N71.6bn for the spectrum license and N374.6million for the UAS license.

Under the UAS, licensees shall be free to offer voice, data or multimedia services as they deem fit.

The telecom giant further disclosed that the universal license and the local wireless loop in the 900MHz and 1800MHz bands are subject to licensing conditions, including additional amounts under discussion.

Commenting on the renewal, MTN Nigeria CEO, Karl Toriola, said: “Renewing our license for another 10 years is very important to our business and enables us to continue to provide service to ensure the benefit of a modern connected life for our people.”