Nigeria raises its record fine against MTN a day after reducing it

“Shareholders are advised that, after further engagements with the Nigerian Authorities, the NCC has reduced the imposed fine”, MTN said.

MTN Group South Africa has announced the resignation of MTN CEO in Nigeria, Michael Ikpoki and that of head of regulatory and corporate affairs, Akinwale Goodluck. Moolman was previously chief operating officer at MTN Irancell and most recently chief operating officer at MTN Nigeria.

MTN also announced a restructuring on Thursday that saw its Nigerian chief executive exit. She was formerly headed regulatory affairs at the Nigerian operating company.

NCC explained the penalty was based on the rate of 200,000 naira (£653) for each of the 5.2 million unregistered cards that should have been disconnected by mid-August. “This will see MTN Group restructured into three regions – namely West and Central Africa (WECA), South and East Africa (SEA), and Middle East and North Africa (MENA)”. Two regional vice presidents, reporting directly to Mr. Nhleko, have also been appointed. Michael Ikpoki, MTN Nigeria CEO, has also handed in his resignation.

It must be paid by the end of the year, MTN said.

MTN’s Nigeria unit is the group’s biggest market by subscribers and the announcement saw the operator’s stock tumbling by about 20 per cent last week.

“Jaroudi has been CEO of MTN Syria since 2006”.

The letter from the NCC informed MTN’s press statement indicating that the government had shifted grounds by reducing its fine by 35 per cent.

Nhleko comments: “This revised structure and strengthened leadership will improve operational oversight and increase management capacity”.

The fine, down from $5.2 billion, is still the largest meted out in the telecommunications industry, according to experts. It’s a national security issue in Nigeria, where law enforcers say Islamic extremists use cell phones to detonate bombs and criminals use them in kidnappings and armed robberies.

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