I personally thinks the Nigerian government should tread with caution when dealing with foreign investors at this time when our economy seem to to at a stand still for so long now.
Reportedly Virgin Atlantic Airways has stopped its operation in Nigeria, and now the heavy fine on MTN. If and when that fine gets paid, I hope the Nigerian government would be able to account for every penny of it.
According to Dailymail, Chief executive Sifiso Dabengwa tendered his resignation with immediate effect, saying it was "in the interest of the company and its shareholders".
Reportedly Virgin Atlantic Airways has stopped its operation in Nigeria, and now the heavy fine on MTN. If and when that fine gets paid, I hope the Nigerian government would be able to account for every penny of it.
According to Dailymail, Chief executive Sifiso Dabengwa tendered his resignation with immediate effect, saying it was "in the interest of the company and its shareholders".
The fine, which amounts to double MTN's profit last year, was for failing to cut off unregistered mobile users.
The firm was given until 16 November, just two weeks, to pay the penalty.
The company is in talks to reduce the fine.
"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," said Mr Dabengwa in a statement.
He had been in the post since 2011.
Non-executive chairman Phuthuma Nhleko has been appointed executive chairman for a maximum of six months while the company looks for a successor.
It is thought that the Nigerian government imposed the fine after the kidnapping of a former finance minister, Chief Olu Falae. The kidnappers used an unregistered Sim card from MTN to demand a ransom.
Nigeria is MTN's biggest market, with 28.5 million subscribers, followed by Iran and South Africa.
No comments:
Post a Comment