MTN withdraws suit against NCC, pays N50bn ‘in good faith’

MTN has withdrawn its suit against the Nigerian Communications Commission (NCC) and paid N50 billion ($250 million) towards an amicable resolution of the fine imposed on the telecoms giant. ncc mtnMeanwhile, the Federal Government, yesterday, denied knowledge of the development and payment of the money. NCC had fined MTN 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. However, MTN filed a suit as the December 31, 2015 deadline drew nearer, and later requested an out-of-court settlement. Yesterday, the mobile phone company finally withdrew the case at the Federal High Court in Lagos in response to a request by the Nigerian authorities.
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