N780billion: MTN seeks out of court settlement with FG

Telecommunications company, MTN, is seeking an out of court settlement over the N1.04 trillion fine the Federal government through the National Communications Commission, slammed on it last year for failing to deactivate 5.1 billion unregistered phone lines. MTN had initially dragged FG to court over the fine, arguing that it was outrageous. The Federal government had reduced the fine to N780 billion after the company complained.

At a resumed hearing of the suit at the Fedral High Court Ikoyi today January 22nd, the lead counsel for MTN, Wole Olanipekun, told the presiding judge, Justice Mohammed Idris, that they have considered to settle out of court with the Federal government.

Following the request by MTN, the presiding judge adjourned the case to March 18, 2016 hoping that both parties would have reached an agreement before then.