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1.04 Trillion Fine: MTN Seeks Out-Of-Court Settlement

Telecommunications outfit, MTN Nigeria has asked for an out-of-court settlement in its suit against the N1.04 trillion fine imposed by the Nigerian Communications Commission (NCC).

According to reports culled from Technology Times, Wole Olanipekun, a Senior Advocate of Nigeria who led a team of MTN lawyermtns made up of 10 senior advocates, told the presiding Judge, Mohammed Idris, of the Federal High Court, Ikoyi, Lagos, Friday, that MTN has opted to settle out of court in its suit against the Nigeria Communications Commission and the Federal Government.

The implications of MTN’s request are yet unclear as the Federal Government had reduced the fine to N780 billion and insisted on payment by December 31, 2015 before the lawsuit was filed.

Following the request by MTN, Justice Idris adjourned the matter till March 18, 2016. The two parties are expected to have reached a decision on the modalities of the out of court settlement by then.

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