Business
MTN Nigeria withdraws court case, pays NCC N50b
The protracted case between MTN Nigeria and the Nigeria Communication Commission (NCC) may have come to an end as the telecoms company on Wednesday formally announced plans to withdraw from the lawsuit at the Federal High Court of Lagos.
Subsequently, MTN Nigeria paid N50billion to the Federal Government as a gesture of good faith and commitment to continued efforts towards an amicable resolution.
The move by the MTN Nigeria followed request by the authorities to create a conducive atmosphere for further negotiations.
MTN Nigeria CEO, Ferdi Moolman speaking on the issue said “This is a most encouraging development. It demonstrates a willingness and sincerity by both parties to work together towards a positive outcome.”
Read also: NCC Fine: MTN backs down, seeks settlement
It would be recalled that the NCC had imposed a N1.04 Trillion fine on MTN Nigeria in October 2015, for its failure to disconnect 5.1million improperly registered lines within the prescribed deadline.
Subsequently the fine was adjusted by 25% to N780billion, an amount that was considered inimical to the survival of the business. MTN Nigeria subsequently sought judicial determination as a means of protecting the local ecosystems valued and supported by MTN’s business.
Justifying the need for the withdrawal of the lawsuit, Moolman stated that “We are hopeful at this stage. Along with the authorities, it is clear that we are collectively committed to working towards a solution that is of mutual benefit to all parties.
“Our industry in Nigeria is an incredibly important example of the remarkable progress in ICT particularly as a much needed catalyst for socioeconomic growth and development at this time.”
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