BREAKING: Lagos court adjourns MTN fine hearing

court ordersBy TINTSWALO BALOYI

JOHANNESBURG, (CAJ News) – THE hearing into the challenge MTN has launched against the Nigeria Communications Commission (NCC) has been adjourned to March.

The mobile network operator reported the matter came up for hearing before the Federal High Court in Lagos on Friday morning.

MTN reported the court adjourned the matter to March 18 in order to enable the parties to try and settle the matter.

If the parties are unable to reach a settlement the matter will then proceed on that date.

“Shareholders are therefore advised to exercise caution when dealing in the company’s securities until a further announcement is made,” MTN said.

In October 2015, NCC made the pronouncement to penalize MTN for their inability to disconnect 5,2 million unregistered subscribers on its network.

In December , MTN announced their decision to contest the decision by the FGN enforcing the payment of the penalty on the last day of the year 2015.

MTN Nigeria also got an order from the Federal High Court stopping the Federal Government from preventing MTN Nigeria from moving its funds in Nigerian Banks out of the country.

CAJ News

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