MTN Group CEO Resigns Over $5.2 Billion Fine

Screen Shot 2015-11-09 at 11.10.37 AMTelecommunications giant, MTN was recently rocked by the decision of the Nigerian Communications Commission (NCC) to slam them with a record $5.2 billion fine. The fine came as a result of the failure of MTN to disconnect unregistered customers before the stipulated deadline.

MTN has been given a deadline of November 16 to pay the fine with MTN’s share price taking a hit shortly after the fine was made public knowledge.


The company announced the resignation of its Group Chief Executive Officer, Sifiso Dabengwa, this morning. “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 announcing his resignation.

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