
MTN Group,a South African Telecommunication company based in Nigeria,have decided to withdraw its lawsuit against Nigeria Communications Commission {NCC} over a $3.9 billion fine and paid $250 million towards a possible settlement.MTN,which makes 37 % of its sales in Nigeria,said it would withdraw its court challenge in an effort to reach an amicable settlement and make a ''good faith payment of $250 million towards a possible settlement.Dobek Pater,managing director of Africa Analysis said ''This is a sign that the fine could be reduced much further.There is some sort of negotiation taking place and the parties are migrating towards a common ground''.The original peenalty was based on fining the company $
1, 000 for every unregistered SIM card in use.A judge in Lagos last month gave both parties March
18 to reach a settlement,after MTN had asked the court to arbitrate over the dispute,saying the Nigerian Communications Commission {NCC} had no legal grounds to order the fine.One more photo below.
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