Home Business MTN Denies Giving Bribe for Reduction of NCC Fine

MTN Denies Giving Bribe for Reduction of NCC Fine


The Chief Executive Officer of MTN, Ferdi Moolman, has said the telecommunications giant did not give bribe for the reduction of the N1.04 trillion fine slammed on the company for infraction in Nigeria.

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Moolman said in a statement in Lagos that MTN’s attention had been drawn to an online report, alleging that a top official in the Presidency took bribe from the company to get the Federal Government to reduce the fine.

He said: ”MTN Nigeria has no knowledge of this and the allegation is therefore denied.
“The MTN Nigeria fine was ultimately settled with the Nigerian Communications Commission.”

Media reports have alleged that a top Presidency official had collected N500 million as bribe from MTN to help the company to mitigate the fine imposed on it by the Federal Government.

The NCC had last year reduced the fine to N330 billion.
MTN was allowed to pay the fine in a staggered payment plan that would last till May 31, 2019.

The fine was imposed in October 2015 over the inability of the operator to disconnect about 5.1 million subscribers it registered improperly on its network.

By the terms of the agreement, MTN is expected to pay N30 billion to the NCC, 30 days from the date the agreement was entered into on June 10, 2016.

MTN is also expected to pay N30 billion to NCC on March 31, 2017 and another N30 billion on March 31, 2018.
It is also to pay additional N55 billion on Dec. 31, 2018 and a balance of N55 billion is expected to be paid on March 31, 2019.


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