MTN CEO Sifiso Dabengwa resigns over N1.4 trillion Nigerian fine

Following the massive N1.4 trillion fine imposed on telecom giant, MTN, the Group Chief Executive Officer (CEO), Sifiso Dabengwa, has resigned, Premium Times reports.
The Nigerian Communications Commission had imposed the fine because MTN didn’t not comply with directive to deactivate 5.1 million customers’ SIM cards who have not registered their biometrics .
In a statement issued in Johannesburg on Monday, MTN announced that Non-Executive Chairman, Phuthuma Nhleko, will act as executive chairman for a maximum period of six months while the company looks for Dabengwa’s successor.
“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.”

 
“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.”
UPDATED- 10:56am, 09/11/2015
MTN Non-executive Chairman, Phuthuma Nhleko, who is now the CEO for the next 6 months has made his first statement. He said, “I will assume responsibility as Executive Chairman for the next 6 months as 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,”
According to MTN, Mr Nhleko is no stranger to the business as he served as Non-executive Director and Chairman of MTN from July 2001 until June 2002 and thereafter as an executive director, Group President and CEO until March 2011. He has subsequently chaired the Group in a Non-executive capacity for the past two and a half years (29 May 2013).


http://www.clemmag.com/2015/11/09/mtn-ceo-sifiso-dabengwa-resigns-over-n1-4-trillion-nigerian-fine/