As part of the conditions of an out of court settlement agreement, the Federal Government is set to begin negotiations with MTN Nigeria on the payment of the N780 billion fine imposed on the telecom firm for its failure to deactivate unregistered Subscriber Identification Modules (SIM) cards as directed by the Nigerian Communications Commission (NCC).
The government’s team, led by the Attorney General of the Federation, and Minister of Justice, Abubakar Malami, and the MTN team led by former U.S Attorney General and Head of Covington & Burling LLP, Washington DC, Mr. Eric H. Holder, Jr. are expected to consider the merits and demerits of the terms of payment of the fine.
In a related development, the NCC yesterday confirmed 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
According to a statement signed by the Director, Public Affairs, Tony Ojobo, the official information to that effect was received by the commission from the Office of the Attorney General of the Federation and Minister of Justice, yesterday, February 29, 2016.
Ojobo explained that 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 on the company by NCC, while the ongoing negotiations between the Federal Government and the company reaches a final resolution.
FG begins negotiations With MTN Over N780 Billion Fine https://t.co/JLdxlLS60l https://t.co/BwrNT4N728
FG begins negotiations With MTN Over N780 Billion Fine https://t.co/rotQKV3GDB https://t.co/Vltv777CYg