….To Finish payment by 2019
The Federal Government has finally agreed to cut down the fine imposed on MTN Nigeria Communications following series of meetings and negotiations spanning almost 180 days from N1.04 trillion to N330 billion.

Director, Public Affairs of the apex Communications regulatory agency, Tony Ojobo who disclosed this to newsmen in Abuja said the amount also includes the “goodwill” payment of N50 billion paid by MTN earlier to the government coffers.

However the balance of N280Billion will be spread in six tranches in the next three years in line with the agreement as follows:

The sum of N30Billion will be paid by MTN into NCC’s Treasury Single Account (TSA) with the Central Bank of Nigeria (CBN) 30 days from the date of the agreement dated June 10, 2016.

Other dates of payments include:

• March 31, 2017 – N30Billion;
• March 31, 2018 – N55Billion;
• December 31, 2018 – N55Billion;
• March 31, 2019 – N55Billion and the balance will be in
• May 31, 2019 – N55Billion

Those who signed the agreements are: Executive Vice Chairman (EVC) of NCC, Prof. Umar G. Danbatta, NCC Commission Secretary, Mr. Felix Adeoye, Chief Executive of MTN, Fredinand (Fredi) Moolman and MTN’s Company Secretary, Mrs. Uto Ukpanah, and witnessed by Mr. Tony Ojobo, NCC, Director, Public Affairs; Mr. Usman Malah, Chief of Staff to the EVC, NCC; Ms Helen Obi, Assistant Director, Legal, NCC and Ms. Amina Oyagbola, Corporate Executive, MTN.