MTN now to pay N674bn, as Ikpoki resigns

The Nigerian Communications Commission (NCC) has reduced the monumental fine of N1.04 trillion it imposed on the MTN Nigeria, for failure to disconnect 5.2 million unregistered subscribers, to N674 billion.
A statement issued by the MTN Group yesterday said NCC decided to reduce the fine to US$3.4 billion after considering a request from the company, saying the company now has December 31, 2015 deadline to pay up the fine.
The MTN statement said: “MTN has received a formal letter dated 2 December 2015 from the NCC informing the company that, after considering the company’s request, it has taken the decision to reduce the fine on the MTN Nigeria business from the original N1.4 trillion to N674 billion naira which has to be paid by 31 December 2015.
“The fine relates to the late disconnecting of 5.1 million MTN Nigeria subscribers in August and September 2015.”
According to it, “The Company is 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.”
In the wake of the new developments, MTN Group has also effected a number of senior management changes for a more effective service delivery, even as the Chief Executive Officer, MTN Nigeria, Mr Mike Ikpoki and Head, Corporate Services Executive, Akinwale Goodluck have resigned with immediate effect.
MTN named Ferdi Moolman, the former CEO of the company’s Iran unit and most recently the chief financial officer of MTN Nigeria, as head of the Lagos-based operations, replacing Michael Ikpoki, who resigned.
The statement said: “MTN Nigeria’s CEO Michael Ikpoki and the head of Regulatory and Corporate Affairs Akinwale Goodluck have tendered their resignations with immediate effect. They are replaced by Ferdi Moolman as MTN Nigeria CEO and Amina Oyagbola as its head of Regulatory and Corporate Affairs.”