MTN WITHDRAWS SUIT AGAINST NCC OVER N1.04 TRILLION FINE, PAYS =N=50BN OF THE FINE

MTN Telecommunications Company has withdrawn the suit it filed on December 31st 2015 against the Nigerian Communications Commission (NCC) following the N1.04 trillion fined it for not deactivating 5.1 million unregistered SIM cards, The Cable reports.
After much appeal by MTN the fine of N1.04 trillion was reduced by 25% to N780billion by NCC and MTN was given to till 31st December 2015 to pay the fine but they opted to challenge it in court.

However, MTN in a statement said they have paid N50billion of the fine to the Federal Government of Nigeria "as a gesture of good faith and commitment to continued efforts towards an amicable resolution".

Speaking on the new development, MTN Nigeria's CEO, 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.

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 socio-economic growth and development at this time", Moolman said.