The Senate Committee on
Communications yesterday took exception to the way and manner the out-of-court
settlement arrangement between the Federal Government and MTN is being
conducted regarding the ₦1.04 trillion fine
imposed on MTN.
The
Nation report continues:
The
committee also frowned at the alleged shutting out of the Ministry of
Communications Technology and the Nigeria Communications Commission (NCC) from
the deal.
The
committee which conducted investigative hearing on the matter, expressed shock
that an account in the name of “recovery account” was opened for the ₦50
billion fine paid by MTN as part of the settlement.
Committee
Chairman, Senator Gilbert Nnaji, noted that members of his committee were
worried that a proposal initiated by the MTN for the reduction of the fine to ₦300
billion had been accepted by the Minister of Justice and Attorney General of
the Federation, Abubakar Malami, without recourse to the Ministry of Justice
and the NCC.
The
committee said it has emerged that an initial 25 per cent reduction of the
initial ₦1.04 trillion fine to ₦780 billion was on the order of the President
Muhammadu Buhari.
The
committee brandished a document which showed the proposal by MTN indicating to
pay ₦300 billion made up of ₦150 billion instalmental payment.
The
document further indicated that the ₦50 billion already paid by MTN is part of
the settlement deal.
It
said parties have agreed that the ₦50 billion paid in good faith and without
prejudice by MTN Nigeria on the 24th of February, 2016, in order to commence
settlement negotiations will form part of the monetary components of the
settlement in five equal and annual instalments between the date of execution
of this agreement and 31 December, 2020.
It
said MTN Nigeria shall pay a total of ₦100 billion by electronic funds transfer
to the Federal Recovery Account of the Central Bank of Nigeria (CBN).
The
payment, it said, will commence by 31 December, this year and will be made by
31 December of each subsequent year”
The
proposal also stated that the MTN would buy ₦80 billion worth of Nigeria’s
foreign bond.
The
proposal which the committee said it got from the office of the Attorney
General of the Federation was admitted by MTN.
Accountant-General
of the Federation, Ahmed Idris, who defended himself on allegation of opening
the recovery account, told the committee that he acted on the demand of the
Attorney-General.
Idris
insisted that he was not aware of what money was going to be lodged into the
account.
A
representative of the Attorney-General of the Federation, Mr, Dayo Akpata, who
labored to convince the committee about the necessity of opening the account
was rebuffed.
The committee insisted that
the Attorney-General must appear in person before it within two weeks to
explain the action.
No comments:
Post a Comment