The National Association of Telecoms Subscribers of Nigeria (NATCOMS) has commended the Nigerian Communication Commission (NCC) for the role it played in the process that led to the reduction of the fine imposed on MTN from N1.04 trillion to N330 billion.
President of the association, Chief Deolu Ogunbanjo, who gave the commendation, however faulted the federal government for its inability to find a lasting solution to the challenge, since the fine was imposed on MTN, eight months ago. The delay in resolving the issue, followed the federal government insistence that MTN must pay the full value of the fine.
According to him, the role of NCC in reducing the fine was an indication that it has a human face in regulating the telecoms industry, which it added, was necessary for any business environment that is striving to grow.
The NCC recently announced that it has reduced the MTN fine from N1.04 trillion to N330 billion, with a condition that MTN pays the reduced fine within a space of three years.
According to the Commission, the reduced amount of N330 billion, would include the initial payment of N50 billion earlier made by MTN to the government.
MTN said the balance of N280 billion would be made in six tranches within a period of three years. By the terms of agreement, MTN will pay N30 billion 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, (N30 billion); March 31, 2018, (N55 billion); December 31, 2018, (N55 billion); March 31, 2019, (N55 billion) and the balance will be in May 31, 2019, (N55 billion.)
The decision according to the telecoms subscribers body is a step towards the right direction, because compelling MTN to pay N1.04 trillion as fine would have grounded the business of MTN and would have also led to massive job loss in the country, thereby adding to the unemployment situation of the country.
“I am not satisfied with the way the federal government handled the matter, making it to prolong unnecessarily, but I am happy that NCC has finally reduced the fine, which I think is in the best interest of the country,” Ogunbanjo said.
