Following MTN Nigeria's ongoing court case to seek judicial review over the fined imposed by NCC for failing to deactivate about 5.2 million pre-registered subscriber from its network, it now appears the giant telco has opted for an out-of-court settlement with the telco regulator -- NCC.
It would be recalled that MTN went to court to challenge the power of the NCC to impose the fine, based on the claim that the NCC lacked the power to impose such punishment under its statutory law.
However, the giant telco swallowing its word and pride, has now asked for an out-of-court settlement in the suit it filed against the Nigerian communications commission (NCC) at the resumed hearing of the matter at the Federal high court in Ikoyi, Lagos.
The presiding judge, Justice Mohammed Idris, who granting the giant telco's wish, however gave an ultimatum of eight weeks for the parties involved in the suit to come back with their mutually agreed decision on the matter. Justice Idris adjourned the matter till March 18, when the two parties are expected back in court.
It would be interesting to see how this act as springboard for quick upturn in fortune for the company, its stakeholders and subscribers especially as it has seen a decline in market value since being hit by the fine.