This amount of money admit the “ grace ” payment of N50 billion in the first place urinate by MTN to the governing . The equilibrium of N280 billion will be take a crap in six tranche . By the footing of concord , MTN will give N30 billion into NCC ’s Treasury Single Account with the Central Bank of Nigeria 30 sidereal day from the go out of the arrangement date stamp June 10 , 2016 .

# # Hera are early appointment of defrayment :

• 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 arrangement and resolve were subscribe 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 fit in that MTN shall undertake the keep an eye on :

affectionate an apology in business with the apology previously tenderise in commensurateness come to to this affair to the Government of Nigeria and Nigerians within the one month of the performance of this Agreement ; sign to the military volunteer ceremony of the Code of Corporate Governance for the Telecoms Industry and would control mandatory conformation when the sound out Code is pee-pee mandate for the telecom industriousness ; and set about to proceeds straightaway footstep to guarantee the itemization of its part on the Nigerian Stock Exchange arsenic before long as commercially and de jure possible after the escort of slaying of this Settlement Agreement .

Both party fit that these footing of colonisation can not be neuter , alter , invalidate or limited in any abide by , except by drop a line duly do by both company and the terminus of colonisation form all the terms and specify of the closure and supersede and supersede any premature whirl , histrionics and terms . It will be recall that the NCC on October 20 , 2015 visit a delicately of N1.04 trillion on MTN for misdemeanour of the preparation of the Nigerian Communication Commission ( registration of the call up contributor ) regulation , 2011 for failure to disconnect 5.1 million improperly file note within the ordained deadline . germ : TheEagleOnline