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MTN Nigeria CEO resigns as FG slashes fine to N674b

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The South African telecommunication giant MTN has announced the resignation of the head of its Nigerian operations, Michael Ikpoki and the head of Regulatory and Corporate Affairs, Akinwale Goodluck.

“They 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, the company said in a statement Thursday morning.”

MTN also confirmed that the Nigerian Communication commission has slashed the N1.otrn fine to N674 billion, “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.”

MTN further stated that it was carefully “considering the NCC’s reply, however the Executive Chairman Phuthuma Nhleko will immediately and urgently re-engage with the Nigerian Authorities before responding formally, as it is essential for the Company to follow due process to ensure the best outcome for the Company, its stakeholders and the Nigerian Authorities and accordingly all factors having a bearing on the situation will be thoroughly and carefully considered before the Company arrives at a final decision.”


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3 Comments
  • Yemi Amodu

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  • Olufemi Omidele

    This is not a good relief at all. What has regulations and fines got to achieve compared with sustainable growth and positive development witnessed since MTN and other TELCO companies entered Nigeria business environment. How many of indigenous companies can boast of 674Billion net profit in the last 10 years. Our Government must put up a thinking cap to give assurance and confidence to foreign investors.

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