MTN Group CEO Resigns Amid $5.2 Billion Nigerian Fine

Phuthuma Nhleko, The Group Managing Director of MTN is set to step aside in the midst of a storm. The company division in Nigeria was recently fined $5.2 Billion by the Nigeria Communication Commission.

South Africa’s MTN Group said on Monday its chief executive will resign immediately as the telecoms firm continued talks with the Nigerian government over a $5.2 billion fine.

Sifiso Dabengwa will be replaced by non-executive chairman Phuthuma Nhleko for a maximum of six months, Africa’s biggest mobile phone company said in a statement.

MTN was fined in October by the Nigerian telecoms regulator for failing to cut off users with unregistered SIM cards.

The company said it continued talks with the Nigerian authorities over the fine

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