·
Firm
gets Dec 31 to make payment
·
CEO,
manager lose jobs
Although it got a major respite in its effort to get the $5.2 billion (N1.04 trillion) fine reduced, MTN Nigeria, has, however, lost its indigenous Chief Executive Officer (CEO), Michael Ikpoki, and its Corporate Service Executive, Akinwale Goodluck. They both resigned their appointments late Wednesday night. After securing a 35 per cent reduction of the fine, MTN will now pay N647 billion ($3.4 billion) in what many considered a lucky break for the company.
According to an NCC source, so many factors were actually considered for the slash, these included the appeal for leniency by MTN and that the regulator should tamper justice with mercy in the letter dated November 2, 2015 sent to the commission. The source also disclosed that MTN actually asked for 70 per cent slash in the fine, “but government insisted no, but for diplomacy sake and possible interaction between President Muhammadu Buhari of Nigeria and Jacob Zuma of South Africa, may have also contributed to the reduction of the fine. This is because the order to slash the fine was actually from the Presidency. It came on Wednesday evening.”
According to an NCC source, so many factors were actually considered for the slash, these included the appeal for leniency by MTN and that the regulator should tamper justice with mercy in the letter dated November 2, 2015 sent to the commission. The source also disclosed that MTN actually asked for 70 per cent slash in the fine, “but government insisted no, but for diplomacy sake and possible interaction between President Muhammadu Buhari of Nigeria and Jacob Zuma of South Africa, may have also contributed to the reduction of the fine. This is because the order to slash the fine was actually from the Presidency. It came on Wednesday evening.”
SOURCE: The Guardian - Pg. 4
No comments:
Post a Comment