$5.2b Fine: MTN Sacks CEO, Dabengwa

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Days after the Nigerian Authority through its telecommunications regulation agency the Nigerian National telecommunications Commission (NCC), fined MTN Nigeria for failing to disconnect millions of unregistered subscribers on its network, MTN Group, the parent company of MTN Nigeria, has announced the resignation of its Group Chief Executive Officer, Mr. Sifiso Dabengwa.

The Group announced the development early this morning to shareholders at the floor of the Johannesburg Stock Exchange in South Africa.

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According to the statement: “MTN wishes to inform the market that MTN’s Chief Executive Officer, Mr. Sifiso Dabengwa has resigned.

“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,” Sifiso Dabengwa stated.

The company has also announced Nhleko, the current Non-executive Chairman to act in capacity as Executive Chairman for a maximum period of 6 months while the Company identifies a successor for Mr. Dabengwa.

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