MTN Group Ltd. has announced the resignation of its CEO Sifiso Dabengwa following a $5.2 billion by the Nigerian Communications Commission (NCC) over failure of the telecoms company to disconnect customers with unregistered SIM cards.
MTN was given until November 16 to pay the penalty, which relates to the timing of the disconnection of 5.1 million subscribers and is based on a charge of N200,000 ($1,005) for each unregistered customer.
“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.
According to the company, Nhleko, the current non-executive chairperson has agreed to act as executive chairperson for a maximum period of 6 months while the company identifies a successor for Dabengwa.