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abujagirl
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Nigeria telecommunication giant, MTN today, withdrew its case against the Nigerian Communications Commission, NCC, and paid the sum of N50 billion in an out of court settlement deal.
DAILY POST reports that MTN withdrew the case at the Federal High Court in Lagos in response to a request by the NCC.
Speaking after the settlement, CEO of MTN Nigeria, Ferdi Moolman, said, “This is a most encouraging development. It demonstrates a willingness and sincerity by both parties to work together towards a positive outcome.”
He further added that MTN paid N50bn to the federal government “as a gesture of good faith and commitment to continued efforts towards an amicable resolution.”
The NCC had previously fined the telecom giant the sum of N1.04 trillion for failing to deactivate 5.1 million unregistered SIM cards and later reduced the amount to N780 billion after the first round of negotiations.
DAILY POST reports that MTN withdrew the case at the Federal High Court in Lagos in response to a request by the NCC.
Speaking after the settlement, CEO of MTN Nigeria, Ferdi Moolman, said, “This is a most encouraging development. It demonstrates a willingness and sincerity by both parties to work together towards a positive outcome.”
He further added that MTN paid N50bn to the federal government “as a gesture of good faith and commitment to continued efforts towards an amicable resolution.”
The NCC had previously fined the telecom giant the sum of N1.04 trillion for failing to deactivate 5.1 million unregistered SIM cards and later reduced the amount to N780 billion after the first round of negotiations.
