Breaking: MTN Seeks Out-of-Court Settlement Over N1.04 trillion Fine

Technology Times is reporting that MTN has asked for an out-of-court settlement in its suit against the N1.04 trillion fine imposed by the Nigerian Communications Commission (NCC).

Wole Olanipekun, a senior advocate of Nigeria who led a team of MTN lawyers made up of 10 senior advocates, told the presiding judge, Mohammed Idris, on Friday at the federal high court, Ikoyi, Lagos, that MTN has opted to settle out of court.

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, Idris adjourned the matter till March 18, 2016. The two parties are expected to have reached a decision by then.