MTN CEO resigns over N1.1 trn fine by NCC

MTN Nigeria was fined ny the Nigerian Communication (NCC) over hesitation to disconnect unregistered mobile Phone numbers. The resignation of its Chief Executive Officer, Mr. Sifiso Dabengwa from Office was announced on Monday by the MTN group in South Africa. Stake holders at the Johannesburg Stock Exchange was updated about the prevailing issue.
The Statement reads:

"MTN wishes to inform the market that MTN's Chief Executive Officer, Mr, Sifiso Dabengwa, has resigned. Due to the most unfortunate prevailing circumstance occuring at MTN Nigeria, I, in the interest of thhe company and its share holders have tendered my resignation with immediate effect", stated Dabengwa

The current Non-Executive Chairman,Nhleko, has agreed to act as Executive Chairman for a maximum period of six monthh while the copany chooses its Head.
Record has it that Nhleko had served as Non execuutive Director and Chairman of MTN Nigeria from July 2001 until June 2002 and thereafter as an Executive director, Group President and CEO to March 2011, had also Chaired the Group for the past two and half years.