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.