The Minister of Communications, Mr. Adebayo Shittu, has confirmed MTN Nigeria’s “good faith” payment of N50 billion out of the N780bn fine imposed by the Nigerian Communications Commission (NCC) for regulatory infractions, last October.

MTN, on Wednesday, released a statement mentioning it had paid N50 billion in part-payment of the fine and had also withdrawn the suit it brought against the NCC. Prior to the confirmation of a part payment of N50 billion, the NCC slammed MTN claiming the commission was not privy to any agreement and has not confirmed any payment thus, the information could not be validated.

But in a statement signed yesterday by the Special Adviser on Media to the Minister, Mr. Victor Oluwadamilare, it was stated that officials had sent the receipt of the N50 billion payment and also confirmed that the firm had withdrawn the suit filed before a Lagos High Court challenging the regulator’s action.

According to the federal government, with this “down payment,” the coast is clear for further talks which will be led by MTN’s Executive Chairman, Phuthuma Nhleko.

The payment of N50 billion is MTN’s first attempt in responding to the hefty fine imposed on the company by the NCC, last year.