Saturday, 12 March 2016

Senate: Where Is The N50Billion Fine Paid By MTN


The Senate has demanded to know the account MTN paid the N50 billion fine into and which government agency received the money.
The Chairman, Senate Committee on Communications, Gilbert Nnaji, made the demand at a meeting with MTN, Accountant General of the Federation and other stakeholders in Abuja on Thursday 10th of March. He also frowned at the “recovery account” opened for the N50 billion part-payment of the fine.
“If MTN actually paid, why did it disregard payment into NCC’s coffers as statutorily obliged?
“If MTN paid into CBN’s Recovery Account, on whose directive did the network do so and what legal backing does CBN have to lodge the money in a recovery account.”