The Nigerian Communications Commission (NCC) has reduced the trillion Naira fine it imposed on the MTN Group for to the late disconnection of 5.1 million MTN Nigeria subscribers in August and September 2015. A cautionary announcement to MTN's shareholders confirmed receipt of a letter from the Nigerian regulator that indicated that the fine would be reduced.

"MTN has received a formal letter dated 2 December 2015 from the NCC informing the Company that, after considering the Company's request, it has taken the decision to reduce the fine on the MTN Nigeria business from the original N1,040,000,000,000 (One Trillion, Forty Billion Naira) to N674 Billion Naira which has to be paid by 31 December 2015."

MTN says it is carefully considering the reduction and that its Executive Chairman and Acting CEO Phuthuma Nhleko would immediately and urgently re-engage with the Nigerian authorities before issuing a formal response.

"...stakeholders and the Nigerian Authorities and accordingly all factors having a bearing on the situation will be thoroughly and carefully considered before the Company arrives at a final decision," said MTN.

Management overhaul

Along with the announcement of resignations of MTN Nigeria's CEO Michael Ikpoki and the Head of Regulatory and Corporate Affairs Akinwale Goodluck, the MTN Group has also announced a review of its operating structure. Ikpoki has been replaced by Ferdi Moolman and Goodluck gives way to Amina Oyagbola.

The telco says the review is being effected with the aim to strengthen operational oversight, leadership, governance and regulatory compliance across its 22 country operations in Africa and the Middle East.

Changes to its reporting structure will see MTN Group restructured into three regions – namely West and Central Africa ("WECA"), South and East Africa ("SEA"), and Middle East and North Africa ("MENA").

Nhleko reiterated the need to strengthen the leadership in MTN's statement. "This revised structure and strengthened leadership will improve operational oversight and increase management capacity. This will enable MTN to continue to realise its strategy and vision, while also ensuring we achieve high governance standards and robust risk mitigation."

Senior appointments in accordance with the the new operating structure include a new position of Group Chief Operating Officer which has been filled by Jyoti Desai from the 1 December 2015.

Desai is based in Johannesburg and she reports to the Executive Chairman according to MTN. The mobile operator added that the Group Chief Technology and Information Officer position, previously held by Desai, would remain vacant for the time being.

Furthermore, Karl Toriola is now the VP for WECA region while Ismail Jaroudi has been appointed the VP for MENA. The company says it will make an appointment of VP fo the SEA region soon.

The new VPs, as well as new appointee Matthew Odgers as Group Executive for Mergers & Acquisitions, will report to the Executive Chairman.

The search for the MTN Group CEO is still underway and remains a priority according to MTN's announcement.

MTN has also advised that changes to its structure do not affect MTN's reporting for the financial year closing 31 December 2015. The company says it will report its FY2015 results in line with the former structure later this month.