Mtn withdraws suit against ncc pays n50b fine

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MTN Nigeria has withdrawn its lawsuit against the Nigerian Communications Commission (NCC) and has agreed to pay a fine of N50 billion (approximately $130 million USD) to settle the dispute.

The dispute arose from a disagreement over the NCC's decision to impose a fine on MTN Nigeria for failing to disconnect over 5 million unregistered SIM cards. MTN Nigeria had challenged the fine in court, but has now decided to withdraw its lawsuit and pay the fine to avoid further legal action.

The N50 billion fine is a significant amount, and it's likely that MTN Nigeria will need to make significant adjustments to its operations to absorb the cost. However, the settlement may also help to resolve the dispute and allow MTN Nigeria to focus on its core business of providing telecommunications services to its customers.

It's worth noting that the NCC has been cracking down on telecommunications companies that fail to comply with regulations, and this settlement may serve as a warning to other companies to ensure they are in compliance with all relevant regulations.