MTN withdraws suit against NCC, pays N50bn as first part of eventual settlement

  
MTN has paid N50bn ($251 million) toward a record $3.9bn fine for missing a deadline to disconnect subscribers and will continue negotiations with the FG. The payment was made on the basis that this will be applied toward a settlement, where one is eventually, hopefully arrived at.

MTN also agreed to withdraw the matter from the High Court in Lagos as part of efforts to reach a settlement. MTN was hit with the penalty after failing to comply on time with an order to disconnect 5.1 million customers deemed to be unregistered. The payment is about 6% of the total fine but represents about 27% of MTN’s annual earnings before interest, depreciation, taxes, amortization…. and tithe…..

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

©2018 VivaLasGidi

Design by Deo360.com

Welcome neighbour!

Log in with your credentials

or    

Forgot your details?

Create Account