• Sifiso Dabengwa
As MTN Group CEO, Sifiso Dabengwa, quits the position after a multi-billion dollar fine was leveled against the Africa telecoms giant by Nigerian Communication Commission (NCC), Phuthuma Nhleko, the man who temporarily replaces Dabengwa stated he will "proactively deal with" the regulatory body.
In October, NCC slammed $5.2 billion (N1.04 trillion) fine on MTN Nigeria for allowing 5.1 million subscribers in Nigeria continue using unregistered SIM cards after a deactivation deadline expired.
Reports suggest MTN did not disclose the NCC hammer to shareholders on time over fears its shares could take a heavy hit – fears that actually materialised after news of the fine hit the airwaves.
NCC expects MTN to pay the fine on or before November 16. Both parties are reportedly in talks to ‘find a way out.’
Dabengwa’s resignation follows the big blow, and Nhleko has been appointed his interim successor. The new MTN boss stated he will lead the company for the next six months, at least.
"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 had stated in a statement.
"I will assume responsibility as Executive Chairman for the next 6 months as I proactively deal with the Nigerian regulator and will not stop to work with them in addressing the issues around unregistered subscribers as a matter of urgency," Nhleko stated.