South Africa’s MTN Group said on Monday its chief
executive will resign immediately as the telecoms firm continued talks with the
Nigerian government over a $5.2 billion fine (1.04 trillion naira).
 |
| MTN CEO - sifiso Dabengwa |
According to
Reuters, Sifiso Dabengwa will be replaced by non-executive chairman Phuthuma
Nhleko for a maximum of six months, Africa’s biggest mobile phone company said
in a statement.
MTN was fined
in October by the Nigerian telecoms regulator for failing to cut off users with
unregistered SIM cards.
The company
said it continued talks with the Nigerian authorities over the fine.
“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 a statement.
MTN said it
continued talks with authorities in Nigeria, the company’s biggest market, over
the fine.
Dabengwa has
been chief executive of MTN since 2011.
Shares in MTN
have slid about 17 percent since Oct. 26 to 157 rand by Friday, following news
of the charge.
No comments:
Post a Comment