MTN: Group CEO Resigns

Sifiso Dabengwa, MTN Group CEO has resigned from the company in the wake of the  $5.2 billion fine from NCC, for refusing to deactivate unregistered subscribers.

Non-Executive Chairman Phuthuma Nhleko will act as the Executive chairman for a period of six month, while the company seeks for a successor.
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Dabengwa resigned over the weekend after a board consultation.

“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,” Dabengwa said in the statement.


While the company tries to find a middle ground so the fine can be reduced they, however, have till November 16 to pay the fine.


“I proactively deal with the Nigerian regulator and will continue to work with them in addressing the issues around unregistered subscribers as a matter of urgency,” Nhleko said.
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