The federal government finally acknowledges MTN’s N50 billion payment

The Minister of Communications, Mr. Adebayo Shittu confirmed MTN Nigeria’s “good faith” payment of N50 billion out of the N780bn fine imposed by the Nigerian Communications Commission (NCC) for regulatory infractions last year October.

MTN on Wednesday released a statement stating it had paid N50billion part-payment and had also withdrawn the suit it brought against NCC. Prior to the confirmation of a part payment of N50billion, the NCC slammed MTN claiming the Commission was not privy to any agreement and has not confirmed any payment thus the information could not be validated.

mtn statementBut in a statement signed yesterday by the Special Adviser on Media to the Minister, Mr. Victor Oluwadamilare, it was stated that officials had sent the receipt of the N50bn payment and also confirmed that the firm has withdrawn the suit filed before a Lagos High Court challenging the regulator’s action.

According to the Federal Government, with this “down payment,” the coast is clear for further talks which will be led by MTN’s Executive Chairman, Phuthuma Nhleko.

The payment of N50 billion is MTN’s first attempt in responding to the hefty fine imposed by the NCC since last year.

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