NCC versus MTN

In October 2015, the NCC had slammed MTN originally with a whooping $5.2 billion fine for failing to disconnect unregistered subscribers but was eventually reduced to $3.9 billion in December. This failure was in direct violation of regulations put in place by the NCC in order to combat the uptick in kidnappings and the Boko Haram insurgency, both of which were being perpetuated with the use of cell phones. Well, Information Nigeria brings you update on the drama between NCC and MTN so far…

– The NCC had given MTN a concession on the fine and reduced it to N780 billion but MTN failed to pay up the sum on or before the December 31, 2015 deadline, and as such the fine returned to N1.04 trillion.

– MTN is now suing the NCC and the Attorney General of Nigeria, Abubakar Malami, contending that as a regulatory body the NCC does not have the right to assume all the functions of the state.

– According to the AGF, MTN is using its lawsuit to buy more time on paying the fine and moving its money out of Nigeria.

– The federal government via mareva injunction is seeking to freeze the accounts of MTN Nigeria Communications Limited in Nigeria.

– This injunction is targeted at barring MTN from emptying its accounts in 21 commercial banks in the country and preventing the telecoms giant from boycotting the payment of the N1.04 trillion fine imposed on it by the Nigerian Communications Commission (NCC) for its failure to deactivate its unregistered subscribers.

– The application was filed by the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), due to concern that MTN could move all of its funds out of the country before the fine is enforced as MTN was in the habit of repatriating its funds out of Nigeria.
– The Minister revealed that between October 2007 and May 2009, a period of 19 months, MTN moved repatriated $7.7 billion made in Nigeria to a foreign account.

– There are conflicting reports as to whether the court approved the application or dismissed it. According to THISDAY newspaper, the court did not approve the application saying the AGF did not provide enough evidence that MTN wants to repatriate its funds out of Nigeria but Sahara Reporters,  said the court granted the application...http://www.informationng.com/