MTN says the N50 billion naira is being paid to the federal government “as a gesture of good faith and commitment to continued efforts towards amicable resolution” .
Nigeria’s telecommunication commission (NCC) had fined MTN N1.04 trillion for failing to deactivate 5.1 million unregistered SIM cards. After much consideration, NCC reduced the fine to N780 billion. However, this did not deter MTN in seeking the aid of the law to waive the fine, stating that NCC did not have the legal right to levy them such a fine as well as sighting that they could go bankrupt given the large sum of the fine. The case has being in court for sometime now, since Dec. 31st 2015 to be specific.
Speaking on the new development, MTN Nigeria’s CEO, Ferdi Moolman, had this to say, “This is a most encouraging development. It demonstrates a willingness and sincerity by both parties to work together towards a positive outcome”. 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.”