Site icon Business Journal

MTN Withdraws Suit Against NCC over N780bn Fine

MTN Group

MTN Nigeria says it has withdrawn the suit it filed against the Nigerian Communications Commission [NCC] over the N780 billion imposed on the telecom operator by the regulator.

In a statement over the weekend, MTN Nigeria said it has ‘kept its promise to act in good faith and withdraw the court case. This paves the way to continue settlement discussions with the Nigerian authorities towards an amicable resolution of the matter in the best interests of MTN and Nigeria.”

It will be recalled that on February 24, 2016, MTN had announced its withdrawal of the court case and made an initial payment of N50 billion without prejudice. This payment was made on the basis that it would be applied towards a settlement when one is arrived at.

Ferdi Moolman, CEO, MTN Nigeria, said: “We have kept our promise to withdraw and we have followed through by formally doing so. This is in line with the premium we place on good corporate citizenship.”

The formal withdrawal today at the Federal High Court, with all parties in attendance, signals further progress in the negotiations between MTN Nigeria and the Nigerian authorities.

Moolman stated further: “This is another manifestation of good faith and intent by MTN Nigeria. We have confidence in the equally good intentions of the Nigerian authorities and the strength of our mutual commitment to an amicable resolution. The high priority that Government is giving to the sustainability of the industry assures us of a truly integrated approach amongst all parties, to the growth of ICT as a critical enabler of socio- economic development in Nigeria.”

Exit mobile version