NCC Confirms Receipt of MTN’s Payment of N50Bn

Nigerian Communications Commission (NCC), has confirmed Federal Government’s receipt of the Ssum of N50 billion, 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.

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, yesterday, February 29, 2016.

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 by the Commission, where the ongoing negotiations between the Federal Government and the company reach a final resolution.

ALSO SEE: MTN withdraws suit against NCC, pays $250m fine

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, SAN, while MTN team is led former U.S Attorney General, and Head of Covington & Burling LLP, Washington DC,
Mr Eric H. Holder, Jr.

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 MTN by the Commission for its failure to deactivate invalid SIM Cards as directed by the Commission, thereby contravening the provisions of the regulation on SIM Card Registration.