MTN Nigeria Formally Withdraws Suit Against FG As Negotiations Continue

Telecommunication giants, MTN Nigeria, on Friday, 18th March, 2016 has withdrawn the court case it instituted against the Federal Government over the fine imposed on the company by the government.

According to a release by Funso Aina, Public Relations and Protocol Manager, Corporate Services Division of MTN Nigeria, the withdrawal of the court case was meant to pave the way for continued settlement discussions with the Nigerian authorities.

“Today, MTN Nigeria kept its promise to act in good faith and withdraw the court case. This 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 24th  February 2016, 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,” the statement said..

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 of the case on Friday, 18th March, 2016, at the Federal High Court, with all parties in attendance, confirmed 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.’’

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