It would be recalled that NCC had initially fined MTN Nigeria $5.2 billion for failing to deactivate 5.1 million unregistered SIM cards and later reduced the amount to N780 billion after the first round of negotiations.
However, MTN filed a suit as the December 31, 2015 deadline drew near, and later requested an out-of-court settlement.
On Wednesday, the mobile phone company finally withdrew the case at the federal high court in Lagos in response to a request by the Nigerian authorities.
Confirming the payment of the sum to NCC, Mr. Ferdi Moolman, the CEO of MTN Nigeria said: “This is a most encouraging development. It demonstrates a willingness and sincerity by both parties to work together towards a positive outcome.”
According to Moolman, MTN paid N50bn to the federal government ‘as a gesture of good faith and commitment to continued efforts towards an amicable resolution.”
Moolman further said: “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.”
