Nigeria, February 24, 2016 – MTN, a South African firm based in Nigeria says it has withdrawn the suit it filed against Nigerian Communications Commission (NCC) over a $3.9 billion fine imposed on it for SIM infraction.
MTN PAYS N50 BN FINE TO NIGERIA FOR SIM INFRACTION
In a statement today, the telecom giant said it has paid $250 million(N50 billion) as fine for out-of-court settlement to the NCC.
“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 said.
MTN, which makes billions from Nigeria had hired former US Attorney General, Eric Holder to defend it over the $3.9 billion fine imposed by NCC for failing to meet deadline to register clients using the network.
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The former US Attorney General Eric Holder had pleaded with Nigerian officials last month on behalf of the telecoms company, forcing Nigeria to reduce the fine from $5.2 billion to $3.9 billion.
MTN was given up to March 18, 2016 to settle the fine.
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