Nigerian Communication commission NCC reduces MTN Group's fine, its CEO Ikpoki resigns

Nigerian Communication commission (NCC) reduced the fine of MTN group from N1.4 trillion to N674 billion.

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MTN OFFICE play

MTN OFFICE

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Nigerian Communication commission (NCC) reduced the fine of MTN group from N1.4 trillion to N674 billion.

This announcement came immediately after the resignation of the CEO of MTN group, Michael Ikpoki along with Akinwale Goodluck, the head of Regulatory and Corporate affairs on Thursday morning.

MTN, which is Africa’s largest telecommunications company with 233 million subscribers in 22 countries said it has received a formal letter dated December 2 from the NCC informing it that, “After considering the Company’s request, it has taken the decision to reduce the fine on the MTN Nigerian business from the original N1,040,000,000,000 (One Trillion, Forty Billion Naira) to N674 Billion Naira which has to be paid by 31 December 2015.

The fine is the result of late disconnection of 5.1 million MTN Nigeria subscribers in August and September 2015.

Michael Ikpoki, CEO, MTN Group play

Michael Ikpoki, CEO, MTN Group

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The resigned designations are replaced by Ferdi Moolman as MTN Nigeria CEO and Amina Oyagbola as its head of Regulatory and Corporate Affairs. Mr Moolman was previously COO at MTN Irancell and most recently CFO at MTN Nigeria. A Nigerian national, Ms Oyagbola also retains the position of MTN Nigeria’s Head of Human Resources. She formerly headed regulatory affairs at the Nigerian operating company.

MTN’s former chief executive Sifiso Dabengwa also resigned unexpectedly last month following accusations by Nigeria that its practices in the country had obstructed the fight against Islamist militants. For the next six months or until a successor is found, MTN is being led by Mr. Nhleko, who served as the company’s chief executive until 2011. The search for a new chief executive remains a priority and is under way.

MTN also announced a restructuring Thursday, after reviewing its operating structure. As a result, MTN is re-implementing its former reporting structure, which breaks the company down into three regions: West and Central Africa, South and East Africa and the Middle East and North Africa.

This revised structure and strengthened leadership will improve operational oversight and increase management capacity,” Mr. Nhleko said. “This will enable MTN to continue to realize its strategy and vision, while also ensuring we achieve high governance standards and robust risk mitigation.

To that end, MTN said it has already made a number of senior appointments to support its new operating structure.

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