Various media reports have revealed that MTN Nigeria CEO, Micheal Ikpoki has resigned, along with the head of regulatory and corporate affairs, Akinwale Goodluck.

The resignations come as the $5.2 billion fine imposed on the company by the Nigerian Communications Commission (NCC), over the company’s failure to deactivate unregistered SIMs, is reduced to $3.2 billion by the regulator.

READ: NCC reduces imposed fine on MTN to $3.4 billion

“MTN Nigeria’s CEO Michael Ikpoki and the head of Regulatory and Corporate Affairs Akinwale Goodluck have tendered their resignations with immediate effect,” MTN said in a statement, according to DailyPost.ng.

Ikpoki and Goodluck will be replaced by Ferdi Moolman and Amina Oyagbola as CEO and head of regulatory and corporate affairs, respectively.

Before his latest appointment, Moolman was CEO of MTN Irancell, while Oyagbola will also maintain her position as head of human resources at MTN Nigeria in addition to her new position.