The alleged planned reduction of the fine is a matter of interest to the Senate since it was the executive that imposed the fine on the company through a fresh investigation after one earlier conducted by the Senate in 2016.
NASS can’t be blamed for budget delay— Senate ZThe Senate said that though it was not particularly against whatever the government would want to do with the MTN fine, it should be intimated why the reduction became necessary.Chairman, Senate Committee on Banking , Insurance and other Financial Institutions , Senator Rafiu Ibrahim, PDP Kwara South, told journalists that the committee would immediately demand CBN report on the matter to be better informed. H1’18: Banks’ losses to fraudsters rise by 1,446% to N12bn According to him, “the only way Nigerians would know what transpired between the CBN and MTN on the $8.1 billion fine is through a detailed report.” It was gathered that the Federal Government, working through the Central Bank of Nigeria, CBN, may have concluded arrangements to cut the $8.1 billion fine to $800 million through the back door.
The Senate said, it was interested in knowing the percentage of reduction from $8.1 billion to $800.
