Fine: FG Confirms MTN’s N50bn Payment

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NCC-MTN

The Federal Government has confirmed the payment of N50 billion by MTN as part payment of the N1.04 trillion fine by the Nigerian Communications Commission (NCC).

Confirming this to newsmen on Friday, the Special Assistant to the Minister of Communications, Mr. Victor Oluwadamilare, said the payment by telecom company was made with a precursor for an out of court settlement over the matter.

Oluwadamilare said the development was in line with the promise by MTN to amicably resolve the issue with NCC. The Nigerian telecom operator, MTN Nigeria had on Wednesday announced the payment of $250 million as part of the N1.04 trillion fine imposed on it by industry regulator.

MTN Group went to court to challenge the legality of NCC to impose such a huge fine on it but failed to argue its case to logical conclusion. After hearing the case, the presiding judge in January gave the two parties a two month period to settle out of court.

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