FG Slashes MTN N1.4Trillion Fine As Nigeria’s CEO, Michael Ikpoki, Resigns

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Sight of relieve as the Nigerian Communications Commission (NCC) has finally reduced a hefty penalty slapped on South African telecoms giant MTN over unregistered SIM cards.

READ ALSO: The Explosive MTN Nigeria Fine And How It Affects You

The MTN Group made this known on Thursday, December 3, in a statement, also announcing the resignation of its Nigerian CEO.

The company said it has received a formal letter dated December 2 from the NCC informing it that, “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.”

The fine was in line with the late disconnecting of 5.1 million MTN Nigeria subscribers in August and September 2015.

MTN has however said in a statement that it was “carefully considering” the revised fine by the NCC.

READ ALSO: $5.2Bn Fine: MTN Granted Reprieve As Fresh Negotiations Begin

Meanwhile, two senior executives at the company’s operation in Nigeria have stepped down, the firm announced.

MTN Nigeria’s CEO Michael Ikpoki and the head of regulatory and corporate affairs, Akinwale Goodluck “have tendered their resignations with immediate effect,” MTN said in a statement.



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