|MTN. Image: livemint|
MTN Nigeria has agreed to withdraw the matter against the Nigerian Communications Commission from the Federal High Court in Lagos.
The mobile network operator said it had agreed “without prejudice good faith” payment of N50 billion (USD250 million) to the Federal Government of Nigeria on the basis that this would be applied towards a settlement, which it is hopeful would be reached.
The company said such efforts reported on Tuesday were made in an effort to achieve an amicable settlement.
MTN said Phuthuma Nhleko, in his capacity as Executive Chairman of MTN Group, and a director of MTN Nigeria, is continuing to lead the team engaging the Nigerian authorities with a view to settling the matter.
NCC had sought legal action after NCC had fined it N1,04 trillion for failing to deactivate more than 5 million unregistered SIM cards.
The regulator later reduced the amount to N780 billion after some negotiations.
MTN had filed a suit in December and later requested an out-of-court settlement.