FG, MTN seek modalities on payment of N730bn balance of fine

The Nigerian Communications Commission (NCC) has said it is continuing talks towards the resolution of the N780 billion fine slammed on MTN.
A statement by its spokesman on Monday by Tony Ojobo, said the “receipt of the amount, and withdrawal of the suit is without prejudice to the final decision of government on the terms of payment being proposed by the company”.

It said a team led by Abubakar Malami, attorney-general of the federation, will review the conditions of the payment of the fine at a meeting with the MTN team led by Eric Holder, former US attorney-general.
“The Nigerian Communications Commission, NCC, wishes to affirm Federal Government’s receipt of the Sum of N50,000,000,000 (Fifty Billion Naira Only), towards settlement of the fine imposed on MTN Nigeria Communications Ltd by the Commission, and its withdrawal of Suit No FHC/1923/2015 – MTN Vs. NCC & HAGF.
“The official information to the Commission to that effect, was received from the Office of the Attorney General of the Federation and Minister of Justice, today, 29th February, 2016.
“The amount is an unconditional good faith payment, on the basis that this sum would be applied towards eventual settlement agreement for payment of the fine imposed by the Commission, where the ongoing negotiations between the Federal Government and the company reaches a final resolution.”