In a related development, MTN announced that Michael Ikpoki, MTN CEO in Nigeria and the head of its regulatory and corporate affairs Akinwale Goodluck have resigned with immediate effect.
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The reduction in penalty follows the discussion between NCC and MTN Nigeria officials in the recent weeks.
MTN will eventually have to reach an agreement with Nigerian authorities or risk being expelled from Africa’s most populous country with about 180 million people.
Oyagbola is returning to the regulatory and corporate affairs she headed before and will retain her position as head of human resources.
The fine relates to the late disconnecting of 5.1 million MTN Nigerian subscribers in August and September 2015. This will see MTN Group restructured into three regions – namely West and Central Africa, South and East Africa, and Middle East and North Africa.
Two regional vice-presidents have been appointed, too, both also reporting to Nhleko.
Executive chairman, Phuthuma Nhleko, the company said, will “immediately and urgently re-engage with the Nigerian authorities before responding formally”.
Nigeria’s regulators have increased the fine against MTN to $3.9 billion after a revision of the initial $5.1 billion fine to $3.4 billion just 24 hours ago.
MTN Group has reviewed its operating structure with a view to strengthening operational oversight, leadership, governance and regulatory compliance across its 22 country operations in Africa and the Middle East.
The operator’s subscriber base in Nigeria, which stand at about 63 million, has been on the decline in recent months mainly due to stiff competition and tough regulations, a recent quarterly report showed. MTN’s Nigerian operations account for about 40% of the company’s profit. Ms Desai has 14 years’ experience at MTN.
It said on Thursday it had succeeded in reducing the fine by a third. 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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