The minister of communications Adebayo Shittu, on Thursday, February 25, confirmed receipt of MTN part payment of N50billion out of the N780bn fine slammed on it by the Nigerian Communications Commission (NCC) for regulatory infractions.
The South Africa owned telecommunications giant, on Wednesday, February 24, said it had paid N50billion out of the amount and had also withdrawn the suit it brought against NCC.
In a statement signed yesterday by his Senior Special Assistant on media, Victor Oluwadamilare, the minister said officials had communicated to him the receipt of N50bn payment by MTN.
MTN was fined N1.04 trillion last October by NCC for failure to disconnect 5.1 million improperly registered lines within the prescribed deadline.
The fine was reduced by 25% to N780bn by the federal government, but MTN still considered that inimical to the survival of its business.
RT @BizWatchNigeria: FG Confirms Receipt of N50billion from MTN As Part Payment of N780billion Fine – https://t.co/IXnscHNW47 https://t.co/…
RT @BizWatchNigeria: FG Confirms Receipt of N50billion from MTN As Part Payment of N780billion Fine – https://t.co/IXnscHNW47 https://t.co/…
RT @BizWatchNigeria: FG Confirms Receipt of N50billion from MTN As Part Payment of N780billion Fine – https://t.co/IXnscHNW47 https://t.co/…
FG Confirms Receipt of N50billion from MTN As Part Payment of N780billion Fine https://t.co/cDzClkJQo9 https://t.co/UmxPcSznXY
FG Confirms Receipt of N50billion from MTN As Part Payment of N780billion Fine https://t.co/R9U87R2p9q https://t.co/RHvceOwL5N