Saturday, July 13, 2024
24.6 C

MTN Withdraws Suit Against NCC over N780bn Fine

MTN Nigeria says it has withdrawn the suit it filed against the Nigerian Communications Commission [NCC] over the N780 billion imposed on the telecom operator by the regulator.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


Hot this week

NGX Group’s Revolutionary e-Offering Platform Goes Live Following SEC Approval

Nigerian Exchange Group (NGX Group) has unveiled NGX Invest,...

Commonwealth Short Story Award Winner Releases The Talent Coach

Dr. Frederick Mordi, a Commonwealth Short Story Award winner,...

NAICOM, NFIU to Strengthen Partnership on Financial Regulation

From Left: Mr. Ahmed Adamu Director, Innovation & Regulation...

Sterling One Foundation, United Nations Nigeria Unveil Africa Social Impact Summit 2024

The official press conference for the Africa Social Impact...

Access Holdings: Facts Behind the Offer Session at NGX

L-R: Morounke Olufemi, Group Chief Financial Officer, Access Holdings...


Verve Card Formally Announces its Acceptance in Ghana

Verve, a leading payments technology and card business in...

Greater PH, Masta Services to Build Airport City Housing Project


WEF: Will Human-centric Data Policy Accelerate Global Progress?

The World Economic Forum and the City of Helsinki will...

Lekki Miami Beach Resort Celebrates One Year Anniversary

Set out to provide alternative holiday resort in Nigeria for Nigerians and foreigners alike, Lekki Miami Beach Resort (LMBR) Limited has continued to expand, offering value that could be comparable to its peers in other parts of the world. One year after commissioning, the resort located on Lekki Area of Lagos has provided leisure and comfort for individual and corporate clients who needed to relax after for short vacation and hard work off the city coast.

Nigerian Insurers Plan Strategic Rebranding

Operators in the Nigerian insurance sector have taken a...

Remita Partners MTN’s Yello Digital Financial Services to Deepen Financial Inclusion

Remita, a leading Africa-focused fintech brand, has partnered with...

MTN Launches Mobile Money API Hackathon

In pursuit of its goal to contribute to bridging...

1st Nutrition Africa Investor Forum Targets Private Sector Food Industry

The Global Alliance for Improved Nutrition (GAIN)- an international...

Related Articles

Popular Categories