MTN fine: FG negotiators consider N730bn balance payment

The Nigerian
Communication
Commission says a team
of federal negotiators is
deliberating terms under
which the mobile
communications firm MTN
will pay a balance of N730
in fines.
NCC confirmed it received
N50 billion from MTN last
wednesay in down
payment to settle fines
imposed on the firm, after
it flouted regulatory
directives to deactivate
invalid sim cards on its
network.
MTN has also withdrawn a suit it filed against NCC
and the attorney-general of the federation.
“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, today, 29th February, 2016,” NCC’s
director of public affairs Tony Ojobo said in a
statement.
Ojobo said the down payment and MTN’s
withdrawing its legal case will not affect
government decision on whatever terms of
payment MTN proposes.
The negotiation team is led by attorney-general
and justice minister Abubakar Malami, while
MTN’s team is led by former US attorney-general
Eric Holder, Jr, who now heads the Washington,
DC-based firm Covington & Burling.