We Can't Pay Nigeria - South Africa Tells FG

The ongoing $5.2 billion fine saga slammed on

MTN Nigeria has consumed its first casualties in the country with the sack of its Chief Executive Officer, Mr. Michael Ikpoki, and the Director, Corporate Executive Services, Mr. Wale Goodluck.

A statement from the company, however, said the duo tendered their resignation, which took immediate effect.

MTN Nigeria, it will be recalled, has been battling for a soft landing after the Federal Government slammed a fine of $5.2 billion on it following its inability to deactivate 5.1 million subscribers who were not properly registered on its network.

The fine came as a shocker to industry stakeholders, who saw it as an indication of government’s seriousness to enforce discipline in the telecommunications industry.

Meanwhile, the fine is the first ever to have triggered a mass sack in the telecommunications company beginning with MTN’s Group CEO, Mr. Sifiso Dabengwa who lost his job last month while shaking global communication and technology sector, especially Nigeria, to its root.

MTN has since pleaded for leniency, as it opened talk with the Presidency on the matter following which government reduced the fine to $3.4 billion (N674 billion).

According to the MTN Group Corporate Affairs, the company received a formal letter dated December 2, 2015 from NCC notifying it that it has considered its request.

“It has taken the decision to reduce the fine on the MTN Nigerian business from the initial N1.04 trillion to N674 billion, which must be paid by December 31, 2015. The fine relates to the late disconnecting of 5.1 million MTN Nigerian subscribers in August and September 2015.”

The MTN Group also informed its shareholders and customers that it is reviewing its operating structure with a view to strengthening oversight, leadership, governance and regulatory compliance across its 22 operations in Africa and the Middle East.

It states that: “MTN Nigeria’s CEO, Michael Ikpoki, and the Head of Regulatory and Corporate Affairs, Akinwale Goodluck, have tendered their resignations with immediate effect. They have been replaced by Ferdi Moolman who becomes MTN Nigeria CEO and Amina Oyagbola as its Head of Regulatory and Corporate Affairs.

“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 search for the MTN Group CEO is underway and remains a priority,” the firm said.