AGF, Holder to lead negotiations on telecom giant's N780 billion fine

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March 2, 2016 12:36 PM

The commission said, yesterday, in a statement, that the government's team involved in negotiations with the South Africa-based telecom giant will be led by the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN).

Former U.S. Attorney General Eric Holder talks to the media in Washington March 12, 2015. REUTERS/Yuri Gripas

The 'good faith' payment of N50 billion made by MTN Nigeria into the coffers of the NCC seems to have started having the desired effect.

The statement also stated that MTN's team will be led by former US Attorney General and Head of Covington & Burling LLP, Washington DC, Mr. Eric H. Holder, Jr.

MTN Nigeria was fined N1.04 trillion - later slashed to N780 billion - by the NCC last year for failing to deactivate 5.2 million unregistered SIMs with a December 31, 2015 deadline.

The telecom company then sued the Federal Government, the NCC, and the AGF in a move perceived to be aimed at preserving it business in the country, or at least delay the deadline for payment further.

The company decided to withdraw its suit against the FG, the NCC, and AGF, last week, and paid N50 billion as a show of 'good faith' or in a other words, as a means of reaching a settlement agreement with the government.

Stay with Pulse Tech to keep you updated as the matter unravels.

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