NCC receives N50bn payment from MTN

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Abuja  – Nigerian Communications Commission (NCC), on Monday said it received N50 MTN Nigeria Communications Ltd. as part settlement fine it imposed on communications firm.

This is contained a statement signed by Mr Tony Ojobo, Public Affairs NCC, Abuja.

It said the commission had also withdrawn the suit it filed against MTN.

“The information to the commission to that effect was received the Office the Attorney-General the and Minister Justice, on Feb. 29, 2016.

“The amount is an unconditional good faith on the basis that this amount will be applied toward eventual settlement agreement for of the fine imposed by the commission.

“Where the ongoing negotiations between the Federal and the reaches a resolution, the ’s for the negotiations is being led by the Attorney-General of the and Minister of Justice, Abubakar Malami.

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“MTN is led by former .S. Attorney-General, and Head of Covington & Burling LLP, Washington DC, Mr Eric H. Holder Jr’’, the statement said.

It said that receipt of the amount and withdrawal of the suit were without prejudice to the decision of the on the terms of being proposed by the .

The statement said that on the basis of of court settlement, was expected to deliberate on the merits and demerits of the terms of of the fine imposed on MTN.

“This is due to its failure to deactivate invalid SIM cards as directed by the commission, thereby contravening the provisions of the regulation on SIM Card .’’ (NAN)