UNBELEIVABLE; MTN Withdrew Lawsuit Against Nigeria Pays 50bn out of 780bn fine....

South African mobile phone operator, MTN Group, has withdrew its
lawsuit against Nigeria's National Communications Commission, over a
N780 billion fine it incurred for breaching regulations to deactivate
all unused Sim Cards , and has however paid N50 billion toward a
possible settlement.

The original N1.04trillion penalty was based on fining the company
1,000 dollars for every unregistered SIM card in use which is against
the regulations set by Nigeria Communications Commission(NCC) for all
communication operators in the country to deactivate all unused sim
cards at a particular time.

It is yet to be known whether this is all the payment the
communication magnate will pay or its just a part payment towards an
out-of-court settlement with the Federal government.