National Social Protection Agency (NSPA) has decided to cancel the agreement to rent an office space through Maldives Media House which operates MMTV connected to President Dr. Mohamed Muizzu.

In a statement on Monday, NSPA insisted that the process to rent the office space through Maldives Media House was carried out in accordance with the open tender procedures.

But the Maldives Media House has requested the cancellation of the agreement because of irreparable damage being caused due to public criticism of the transaction, the statement read.

"As a result of numerous false statements and the use of various media outlets to spread unfounded lies to defame the company in connection with this transaction and because the company has suffered great material and intangible loss, the company has requested to cancel the agreement," NSPA stated.

NSPA has been accused of agreeing to spend more than MVR 500,000 per month from the state budget to run MMTV.

According to the Finance Ministry website, NSPA sought a 12,000-square-feet site to relocate its office building and only Maldives Media House submitted a proposal.

Adhadhu understands that MMTV rented four floors from the 15-storey building located in Mahchangolhi Seeraazeege. The total area of ​​the building is 4365 square feet.

Reliable sources said two of those floors or 8730 square feet were rented to NSPA. The 12,000 square feet of space required by NSPA will be available from three floors.

The monthly rent for the NSPA office building is MVR 580,000. That is MVR 34.8 million for five years.

Despite NSPA's claim that the transaction does not involve another party, the announcement through the tender board was made at NSPA's request.