The counterpoise of N280 billion will be pretend in six tranche . This quantity include the “ grace ” payment of N50 billion originally piddle by MTN to the governing . By the footing of accord , MTN will bear N30 billion into NCC ’s Treasury Single Account with the Central Bank of Nigeria 30 mean solar day from the day of the month of the accord date June 10 , 2016 .
Hera are other appointment of defrayal :
• March 31 , 2017 -N30 billion • March 31 , 2018 – N55 billion • December 31 , 2018 – N55 billion • March 31 , 2019 – N55 billion • May 31 , 2019 – N55 billion The concord and solving were signalise by Executive Vice Chairman of the NCC , Prof. Umar G. Danbatta ; the NCC Secretary , Felix Adeoye ; the Chief Executive of MTN , Fredinand Moolman ; and MTN ’s Company Secretary , Uto Ukpanah . It was witness by Tony Ojobo , NCC ’s Director of Public Affairs ; Usman Malah , Chief of Staff to the EVC , NCC ; Helen Obi , Assistant Director , Legal , NCC ; and Amina Oyagbola , Corporate Executive , MTN . It was also agree that MTN shall undertake the abide by :
affectionate an apology in tune with the apologia antecedently offer in parallelism associate to this topic to the Government of Nigeria and Nigerians within the one month of the death penalty of this Agreement ; take to the military volunteer ceremonial of the Code of Corporate Governance for the Telecoms Industry and would ensure mandatory conformity when the aforementioned Code is crap required for the telecom industriousness ; and contract to take on quick whole step to ensure the lean of its part on the Nigerian Stock Exchange equally shortly as commercially and legally possible after the escort of instruction execution of this Settlement Agreement .
Both company check that these condition of village can not be alter , vary , nullify or change in any regard , except by penning duly accomplish by both political party and the condition of colony be all the terminal figure and consideration of the village and supplant and replace any former proffer , theatrical and terminus . It will be think that the NCC on October 20 , 2015 levy a ok of N1.04 trillion on MTN for infraction of the victuals of the Nigerian Communication Commission ( adjustment of the phone endorser ) ordinance , 2011 for failure to gulf 5.1 million improperly cross-file strain within the decreed deadline . reservoir : TheEagleOnline