MTN Withdraws Case Against NCC, Pays N50 billions

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he industrial crisis between telecom giant, MTN and the Nigerian Communications(NCC) may have been finally settled, as the company has withdrawn the suit it had filed against the regulator, and also paid N50 billion, out of the fine imposed on it by the NCC.
According to reports, the steps taken by the company is meant to mitigate amide towards an amicable resolution of the furor generated by the fine imposed on the telecoms giant.
MTN had come under the regulator’s hammer for failing to comply with directive to deactivate 5-1 million unregistered SIM cards.
Following this, NCC imposed a fine of N1.04 trillion against the South African, whose biggest market is said to be Nigeria, the fine was however later reduced to N780 billion, after negotiations.
Apparently not satisfied with the reduction, the company, shortly before the December 31, 2015 deadline given to it to make the payment, filed a suit against the regulator at the Federal High Court, Lagos division, but later requested an out-of-court settlement, which it has made good today(Wednesday).
Chief Executive Officer (CEO) MTN Nigeria, Ferdi Moolman, said on the withdrawal: “This is a most encouraging development. It demonstrates a willingness and sincerity by both parties to work together towards a positive outcome.”
MTN paid N50bn to the federal government “as a gesture of good faith and commitment to continued efforts towards an amicable resolution”, according to the telecoms company.
“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.” He emphasized.

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