Management considering sack of top management in Nigeria following $5.2 billion fine - report

folarin okunola

November 10, 2015 3:25 PM

In the time since news of the fine broke, MTN group CEO Sifiso Dabengwa has resigned, with the company losing about $4.2 billion in value.

Michael Ikpoki, former CEO of MTN Nigeria

Various media reports suggest that there are indications that the South Africa-based MTN Group may consider calling for the resignation of some management staff of its Nigerian subsidiary, MTN Nigeria following the $5.2 billion fine imposed on it by the NCC.

According to a report by Punch, sources involved in the matter have revealed that MTN Group having reached an advanced stage in its negotiations with the NCC about reductions on the fine, has taken a decision to sack the current management team of the company.

The report further states that Mr. Michael Ikpoki, CEO MTN Nigeria, as well as other top management officers of the company would have to vacate their positions “for others to clean up the mess.”

READ: Company's largest shareholder tackles board following CEO's resignation

When reached for a comment, Funso Aina, head of public relations at MTN Nigeria, said, “We cannot officially speak or issue a statement on this matter except on the directive of the MTN Group (South Africa). However, it has become pertinent to state here that we are on the brink of resolving the matter with the NCC as regards the fine.”

MTN Nigeria was fined $5.2 billion by the NCC for failing to deactivate about 5.1 million unregistered SIMs despite the Commissions directives.

In the time since news of the fine broke, MTN group CEO Sifiso Dabengwa has resigned, with the company losing about $4.2 billion in value.

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