MTN Nigeria CEO, head of regulatory resign over N1.04tr fine


The expected hammer fell on MTN Nigeria’s Chief Executive Officer, Michael Ikpoki, following the announcement of his resignation on Thursday morning.

He resigned alongside Head of Regulatory and Corporate Affairs, Akinwale Goodluck.

“MTN Nigeria’s CEO Michael Ikpoki and the head of Regulatory and Corporate Affairs Akinwale Goodluck have tendered their resignations with immediate effect,” the company informed investors.

Ikpoki and Goodluck approved the sack of the company’s erstwhile General Manager, Corporate Affairs, Funmi Omogbenigun, for undisclosed reasons.

This is a new twist to the problems at the company following a landmark fine the company has been slapped with after a failure to disconnect millions of unregistered subscribers.

Ferdi Moolman has replaced Ikpoki while Amina Oyagbola is now Head of Regulatory and Corporate Affairs.

The resignations come weeks after the Nigeria Communications Commission (NCC) fined the company N1.04 trillion (US$5.2) for failing to disconnect more than 5 million unregistered subscribers.

MTN Group Executive Chairman, Sifiso Dabengwa quit in November.

“Due to the most unfortunate prevailing circumstances occurring at MTN Nigeria, I, in the interest of the company and its shareholders, have tendered my resignation with immediate effect,” Mr. Dabengwa was quoted as saying in the statement.

Phuthuma Nhleko replaced him.

“This revised structure and strengthened leadership will improve operational oversight and increase management capacity. This will enable MTN to continue to realise its strategy and vision, while also ensuring we achieve high governance standards and robust risk mitigation,” said Nhleko.