MTN wins first court battle in ongoing NCC fine war
MTN has won at least one court battle as part of its ongoing Nigeria fine saga.
It will now be allowed to transfer money out of the country despite the impending legal battle.
Earlier this week, Nigeria’s attorney general filed an application seeking to stop the telecommunications giant from moving funds out of the country, until the matter has been settled.
Last year, the Nigeria Communications Commission (NCC) fined MTN $5,2-billion for failing to disconnect unregistered sim cards.
The fine was later reduced to $3,4-billion.
MTN is challenging the penalty, arguing that the regulator has overreached its powers.