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Home Business News

FG Will Not Settle Out Of Court With MTN – Minister

Editor by Editor
January 26, 2016
in Business News
MTN Fine Will Not Be Paid Until Negotiations Gets Concluded
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Minister of Communications, Adebayo Shittu, has said that the Federal Government expects no out-of-court settlement with MTN over the $3.9 billion fine, unless MTN withdraws its lawsuit.

The Judge handling the case, had last week adjourned the matter to March 18, 2016 in order to enable parties to try and settle matter.

“I’m not aware of any out-of-the-court settlement.” Adebayo Shittu told reporters.

The Minister also said that President Muhammadu Buhari will have the final decision on the matter, adding that MTN might be advised to withdraw the court case filed against the fine.

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“If they withdraw it creates a better environment, an environment where there is no stress or pressure on either side,” he said.

The fine imposed by the Nigerian Communications Commission (NCC), which was reduced by 25% from $5.2 billion to $3.9 billion equates to more that twice MTN’s annual average capital spending over a five year period.

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Comments 1

  1. Bar Baric says:
    January 26, 2016 at 4:07 pm

    Is it even legal for a Minister to say the President has the final say in a matter that is before a court?!

    There seems to be more to this MTN vs NCC palaver than meets the eye, and Government is not saying its exact stance. Is it to completely rout the company from this country?!

    How can you ask someone to withdraw their case from the courts before you will negotiate with them?! If they withdraw the case and you refuse to negotiate with them, which court will take them seriously?!

    I feel it is left for MTN to take their case to an international court of arbitration.

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