Following the major shake-up in MTN Nigeria, Africa's leading cellular telecommunications company, Michael Ikpoki, the CEO of the company, has resigned from his position.
Akinwale Goodluck, the head of regulatory and corporate affairs, has also resigned.
Ferdi Moolman becomes the new CEO while Amina Oyagbola takes over as the head of regulatory and corporate affairs.
These changes are considered to be in answer to the N1.04 trillion fine imposed on the company for failing to deactivate 5.2 million unregistered SIM cards.
In a statement released by the group corporate affairs on Thursday, the MTN Group also announced that it was restructuring its operations to strengthen "operational oversight, leadership, governance and regulatory compliance" across its 22 country operations in Africa and the Middle East. The group is now restructured into three regions – West and Central Africa, South and East Africa, and Middle East and North Africa.
President Muhammadu Buhari plans to meet with President Jacob Zuma in Johannesburg this week to discuss MTN's $5.2bn fine in Nigeria.
The Nigerian Communications Commission fined MTN for failing to disconnect five million unregistered SIM cards in a timely manner.
Nigeria's SIM card registration process is designed to curb terror and criminal threats in that country.
Nigerian telecoms authorities later reduced the heavy $5.2bn fine imposed on MTN Group by 30 %.
Thursday 3 December 2015
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