Home News FG Confirms Receipt of MTN’s Payment of N50billion

FG Confirms Receipt of MTN’s Payment of N50billion

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The Federal Government has confirmed the MTN Nigeria’s down payment of N50 billion out of the N780 billion fine slammed on it by the Nigerian Communications Commission (NCC) for regulatory infractions.

Minister of Communications, Alhaji Adebayo Shittu, said officials had communicated to him the receipt of N50 billion payment by MTN.

MTN on Wednesday said it had paid N50 billion out of the N780 billion, and had also withdrawn the suit it brought against NCC. But the government said Wednesday that it was yet to receive the payment.

Senior Special Assistant on Media to the Minister, Victor Oluwadamilare, said in a statement that “It has been confirmed that MTN Nigeria had indeed paid the said N50bn as a down payment of the N780bn fine, and had also withdrawn the court case against NCC. It made the payment pending further negotiation on the fine issue. We shall further inform Nigerians as the negotiation progresses”

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 adjusted by 25% to N780bn by the federal government, but MTN still considered that inimical to the survival of its business and went to court.

On Wednesday, the telecom company said that it has withdrawn its legal action against Nigerian Communications Commission over the fine.

“MTN Nigeria has today made an agreed without prejudice good faith payment of 50 Billion Naira ($251.3 million) to the Federal Government of Nigeria on the basis that this will be applied towards a settlement, where one is eventually, hopefully arrived at, the company said in a statement.

MTN, which makes 37 percent of its sales in Nigeria, said it would withdraw its court challenge in an effort to reach an amicable settlement.

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