The Chief Executive Officer of MTN, Mr Sifiso Dabengwa, has
resigned, following the 5.2 billion dollar fine imposed on the company by the
Nigeria Communications Commission (NCC).
Dabengwa made this known in a statement sent to newsmen on
Monday in Abuja. He said that the resignation was in the best interest of
MTN, which has seen its share price plummet since the fine was announced.
It will be recalled that the 5.2 billion dollar fine was imposed
on the company in October after it failed to deactivate unregistered SIM cards
from its network.
The company had been negotiating with the Nigerian authority on
the fine, but a source at the NCC said that the commission had turned down a
request for downward review of the fine. MTN currently has no fewer than
60 million subscribers in Nigeria.
Source: Vanguard
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