MTN'S Group Chief Executive Officer, Sifiso Dabengwa has tendered his resignation from the organization following the N1.04trillion fine imposed on it by the Nigeria Communications Commission, NCC.
The fine followed the company's non-compliance to a directive by the regulatory body to telecom firms to disconnect unregistered subscribers on their respective networks. The directive was given in August but MTN flaunted it when it refused to disconnect about 5.1million unregistered subscribers on its network.
Dabengwa was quoted as saying " 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,”
He would be replaced by Nhleko Phuthuma, who would remain in acting capacity for six months pending the appointment of a substantive group CEO for the company.
The total is arrived at on a 200,000naira possible fine on every unregistered line not disconnected. MTN has until Nov. 16 to pay the total sum due in fine.
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