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Fine Settlement: NCC Affirms Receipt Of 50bn Naira From MTN

The Nigerian Communications Commission (NCC) has affirmed the Federal Government’s receipt of 50 billion Naira towards settlement of the fine imposed on MTN Nigeria Communications Limited by the Commission.
The commission also affirmed the withdrawal of a suit involving the MTN, NCC and HAGF.
In a statement, the NCC’s Director, Public Affairs, Tony Ojobo, said that 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, on Monday.
“The amount was 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,” the statement by Mr Ojobo read.
The Federal Government’s team for the negotiations is being led by the Honourable Attorney General of the Federation, and Minister of Justice, Abubakar Malami, while the MTN team is led by a former U.S Attorney General, and Head of Covington & Burling LLP, Washington DC, Mr Eric H. Holder, Jr.
According to the NCC’s statement, 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.
On the basis of out of court settlement, the Federal Government team, is expected to deliberate on the merits and demerits of the terms of payment of the fine imposed on the MTN by the Commission for its failure to deactivate invalid SIM Cards as directed by the Commission, an act the NCC said contravened the provisions of the regulation on SIM Card Registration

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