Why we reduced MTN’s fine – Minister
Written by Morenike Adebayo on June 20, 2016
The Minister of Communications, Mr Adebayo Shittu, has disclosed that the Federal Executive Council (FEC) decided to reduce the five-point-two billion dollars fine slammed on telecommunication giant, MTN, in order to encourage foreign investments into the country. Shittu disclosed this on Sunday in Ibadan at an award ceremony in honour of Chief Lekan Balogun, the Otun Olubadan of Ibadanland.
To this end, he said the ‘case is closed’ on the issue, stressing that the fine is capable of negatively impacting the nation, its people and the economy. Shittu explained that MTN controls almost fifty percent of the one hundred and fifty-two million lines available in Nigeria. Shittu advised the telecoms operators against taking Nigeria and their customers for granted, warning that all infractions will be appropriately sanctioned.