MTN withdraws suit against NCC, pays N50bn out-of-court settlement

Nigeria telecommunication giant, MTN on Wednesday, withdrew its legal suit against the Nigerian Communications Commission, NCC, and paid the sum of N50 billion to settle out-of-court.

The telecom giant withdrew the case at the Federal High Court in Lagos in response to a request by the NCC.

Speaking on the withdrawal, the CEO of MTN Nigeria, Ferdi Moolman, said, “This is a most encouraging development