Business
Minister clears air on MTN fine, insists N50b not part of it
The Minister of Communications, Adebayo Shittu, on Wednesday, cleared the air on the controversy over the payment of N50b fine by the telecoms giant, MTN Nigeria.
The minister spoke in Abuja while making his presentation on the floor of the House of Representatives on diversification of the economy.
His ministry, he revealed, had mandated the telecoms company to pay N50b for its violation of Subscriber Identification Module (SIM) card registration laws.
He however said the money was not part of the N1.4t fine imposed by the Nigerian Communications Commission (NCC).
According to him, MTN took the matter court but later offered to settle it out of court which was why it was asked to pay N50b as a sign of commitment to the new deal.
He also told the lawmakers that negotiation for review of the fine has been stalled due to the on-going investigation of the matter by the House.
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He however assured the House that as soon as the House concludes its investigation, negotiation of the fine would commence.
MTN was fined N1.04 trillion by the Nigerian Communications Commission (NCC) for failing to register a number of subscriber s in accordance with laid rules.
The downward review of the fine by 25 percent as well as the payment of N50 billion by
the telecommunication company later led to the investigation of the issue by the House of Representatives.
Chairman, House Committee on Communications, Saheed Fijabi (APC, Oyo), took on the Minister that his comment on the floor was contrary to what he told the investigative Committee.
According to Fijabi, the Minister denied being involved in the downward review of the fine as well as the payment of N50 billion.
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