MTN Opts Out Of Mega Legal Battle, Pays Initial N50billion Of N1.4trillion Fine

Emerging details have it that

Telecommunication giant, MTN is set to pay 50 Billion Naira ($251.3 million) to the Federal Government through the Nigerian Communications Commission (NCC) as an agreement to settle out of court. The company said on Wednesday that it has made an agreement without any prejudice to pay the money towards eventual settlement out of court.

The statement reads, “MTN Nigeria has today made an agreed without prejudice good faith payment of 50 Billion Naira ($251.3 million) to the Federal Government of Nigeria on the basis that this will be applied towards a settlement, where one is eventually, hopefully arrived at.”

The company has therefore withdrawn its legal action against Nigeria’s regulator over a $3.9 billion fine and paid $250 million towards a possible settlement.

Africa’s leading telecoms firm was fined by the Nigerian Communications Commission in October for failing to disconnect unregistered SIM users, prompting weeks of lobbying to reduce the fine. The original amount was based on fining the company $1,000 for every unregistered SIM card in use.

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