Read why Senate summoned CBN governor, others

– Senate has begun investigation on the decision of the government to reduce the fine imposed on MTN

– Senate expressed their dissatisfaction over the fact that they were not involved with the reduction of the fine

– It summoned key officials to brief the Senate on the matter

The Nigerian Senate

The Senate on Thursday, June 23, summoned Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), Abubakar Malami, minister of justice and Adebayo Shittu, minister of communication, and over the reduction of MTN fine.

This decision was taken after a motion sponsored by Gilbert Nnaji representing Enugu East senatorial district was brought to the floor of the Senate.

He urged the Senate to summon the key officials involved in the matter.

The Nigeria Communications Commission (NCC) imposed a fine of N1.04trn on MTN for failing to disconnect millions of unregistered phone lines.

But the government later reduced the fine to N330 billion in which the telecommunication giant agreed to pay.

READ ALSO: MTN agrees to pay N333 billion fine

The Senate expressed their dissatisfaction over the fact that they were not involved with the reduction of the fine.

Earlier, the House of Representatives probed the decision of the government to reduce the fine imposed on MTN but the Senate began its investigation.

The CBN governor was summoned because the money paid by MTN was allegedly remitted to an account of the apex bank where proceeds of corruption are deposited in.

Malami on the other hand was summoned because he was a key figure in the negotiation process with MTN.

READ ALSO: NASS goes against Buhari on N1.04 MTN fine

Senate President Bukola Saraki ‎directed the committee on communication and justice to invite the officials and submit their report after two weeks.

Telecommunications giant, MTN, has finally agreed to pay the pay N333 billion ($1.7 billion) out of the N780 billion fine imposed on it by the Federal government of Nigeria.

According to MTN, the fine will be paid over a space of three years.

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