Nigeria telecommunication giant, MTN on Wednesday, withdrew its legal suit against the Nigerian Communications Commission, NCC, and paid the sum of N50 billion to settle out-of-court.

The telecom giant withdrew the case at the Federal High Court in Lagos in response to a request by the NCC.

Speaking on the withdrawal, the CEO of MTN Nigeria, Ferdi Moolman, said, “This is a most encouraging development. It demonstrates a willingness and sincerity by both parties to work together towards a positive outcome.”

He further added that MTN paid N50bn to the federal government “as a gesture of good faith and commitment to continued efforts towards an amicable resolution.”

NCC had last year fined the telecom giant the sum of 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.

MTN, however, requested an out-of-court settlement late last year.

DAILY POST

Read More Here: http://www.juicygossips.com.ng/2016/02/breaking-mtn-withdraws-suit-against-ncc.html

Good.

no naw, this is not what we are expecting. they shld pay full jare. haba

This news is sketchy, 50b for what? for suing the NCC or for the the part-payment of our money?

It must not be accepted, we don't need dem , they should quietly pack and go back to south africa, we have glo, *airtel, etisalat and upcoming Ntel

the news was first posted here.....
https://www.nairaland.com/2953897/mtn-withdraws-suit-pays-n50bn
so lalasticlala take note

they will look for a way to get back their money from nigerians....just watch and see

Thank God for accountability in this present regime. Assuming it was the regime of 'stealing is no corruption' . Au revoir to the money. Stolen on Arrival! Thank God for PMB.

Better for them

50billion out of 780billion, is this a joke or what?