The National Association of Telecommunications Subscribers (NATCOMS) is concerned that Nigerian top executives have dropped off the top hierarchy of MTN Nigeria following the N1.04 trillion fine imposed on the mobile phone company.
Michea Ikpoki former CEO MTN Nigeria alongside head of Regulatory and Corporate Affairs Akinwale Goodluck resigned December last year following the fine imposed on the telecoms company by the industry regulator, Nigeria Communication Commission (NCC) for 5.1 million unregistered phone lines.
“Part of the unpalatable effect of the initial N1.04 trillion MTN fine was the top hierarchy casualties that followed, claiming the resignation of MTN’s Group CEO, Mr. Sifiso Dabengwa and our very own Mr. Michael Ikpoki – who would have been a future Group CEO, having been the CEO of MTN’s largest operations – MTN Nigeria, as well as our Mr. Wale Goodluck, a growing international telecoms executive export,” Chief Adeolu Ogunbanjo, National President of NATCOMS, said in a statement sent to Technology Times.
But NATCOMS however expressed appreciation over the reduction of the N1.04 trillion fine imposed on MTN, Nigeria to N330 Billion by NCC which the consumer advocacy sees as a “seemingly reasonable amount.”
According to NATCOMS President, “although, the N330 billion MTN fine is still the highest in the world by any telecoms regulator, we still give kudos to the Nigerian Communications Commission ( NCC )for displaying a high degree of flexibility, fairness and professionalism.”
Additionally, Ogunbanjo says that “we also appreciate NCC for not further jeopardising the business health of MTN after a serious loss of their South African shares value and that of the telecoms and ICT sector, in view of the interest shown by African and global communication investors in the Nigerian telecommunications environment.”
The association says it is happy that MTN shares will as from now be made available to all interested Nigerians at the Nigerian Stock Exchange.
Under the terms of the negotiated fine, NCC and MTN agreed that the N330 billion that includes the “goodwill” payment of N50 Billion earlier made by the mobile phone company to the Nigerian government and the balance of N280 Billion will be made in six tranches over the next three years.