South African telecommunications giant, MTN Nigeria has paid a total sum of N50 billion to the Nigerian government as part of the fine slammed on it by the government for a violation of an agreement.
MTN was fined N1.04 trillion by the government through the Nigeria Communications Commission, but the amount was reduced to N780 billion following pleas. Not satisfied, the telecommunications company rushed to the court to halt the fine.
The organisation has now announced it has withdrawn the case from court for an amicable out of court settlement and confirmed it paid the sum of N50 billion.
MTN said the amount it paid to the government currently was a gesture of good faith and commitment to continued efforts towards an amicable resolution of the case.
A statement credited to MTN Nigeria CEO, Ferdi Moolman, stated that the development was encouraging.
“It demonstrates a willingness and sincerity by both parties to work together towards a positive outcome. We are hopeful at this stage.
“Along with the authorities, it is clear that we are collectively committed to working towards a solution that is of mutual benefit to all parties.
“Our industry in Nigeria is an incredibly important example of the remarkable progress in ICT particularly as a much needed catalyst for socio-economic growth and development,” Moolman was quoted as saying.
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