MTN fine: FG negotiators consider N730bn balance payment

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.

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MTN has also withdrawn a suit it filed against NCC and the attorney-general of the federation.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.