NCC confirms receipt of N50bn payment from MTN

The Nigerian Communications Commission, NCC, yesterday affirmed receipt of N50 billion by the Federal Government towards settlement of the N1.04 trillion fines hammered on MTN Nigeria Communications Ltd by the Commission, and its withdrawal of Suit No FHC/1923/2015 – MTN Vs. NCC and HAGF. By Ojobo, Director, Public Affairs of the Commission, the official data to the Commission to that impact, was gotten from the Office of the Attorney General of the Federation and Minister of Justice, yesterday. “The sum is an unlimited decent confidence installment, on the premise this aggregate would be connected towards possible settlement assention for installment of the fine forced by the Commission, where the progressing transactions between the Federal Government and the organization achieves a last determination. “The Federal Government’s group for the arrangements is being driven by the Honorable Attorney General of the Federation, and Minister of Justice, Abubakar Malami, SAN, while MTN group is driven previous U.S Attorney General, and Head of Covington and Burling LLP, Washington DC, Mr Eric H. Holder, Jr”, Ojobo said. The receipt of the sum, and withdrawal of the suit, he added was without bias to an official choice of government on the terms of installment being proposed by the organization. On the premise of out of court settlement, the Federal Government group, he said is required to ponder on the benefits and negative marks of the terms of installment of the fine forced on MTN by the Commission for its inability to deactivate invalid SIM Cards as coordinated by the Commission, in this manner contradicting the procurements of the regulation on SIM Card Registration.