The Group chief executive officer of telecommunications giant, MTN, Sifiso Dabengwa, has tendered a letter of immediate resignation following the $5.2 billion fine imposed on the telecomm company by Nigerian Communications Commission (NCC) on the Nigerian branch of the company.
It will be recalled that NCC imposed the over N1 trillion fine on MTN for failing to deactivate some 5 million unregistered SIM cards and failing to provide registration information for certain lines that were traced to terrorist group, Boko Haram.
In a statement released by MTN Group on Monday morning, it was revealed that Dabengwa will be replaced by non-executive chairman, Phuthuma Nhleko for a maximum of six months while the company identifies a successor.
Dabengwa resigned over the weekend after consultation with the board and his financial compensation has not been resolved, MTN spokesman Chris Maroleng told Bloomberg. RAED MORE OF THIS STORY ON TORI.ORG