MTN Formally Withdraws Lawsuit over Fine

MTN Nigeria said it has kept its promise to act in good faith and withdraw the court case.

This, the Company said, paves the way to continue settlement discussions with the Nigerian Authorities towards an amicable resolution of the matter in the best interests of MTN and Nigeria.
 
It will be recalled that on February 24, MTN had announced its withdrawal of the court case and made an initial payment of N50 Billion without prejudice.

This payment was made on the basis that it would be applied towards a settlement when one is arrived at.
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According to Ferdi Moolman, CEO, MTN Nigeria, ‘’We have kept  our promise to withdraw and we have followed through by formally doing so. This is in line with the premium we place on good  corporate citizenship.”
 
The formal withdrawal today at the Federal High Court, with all parties in attendance, signals further progress in the negotiations between MTN Nigeria and the Nigerian authorities.
 
Speaking further, Moolman stated ‘’This is another manifestation of good faith and intent by MTN Nigeria. We have confidence in the equally good intentions of the Nigerian authorities and the strength of our mutual commitment to an amicable resolution. The high priority that Government is giving to the sustainability of the industry assures us of a truly integrated approach amongst all parties, to the growth of ICT as a critical enabler of socio- economic development in Nigeria.’’‎