BREAKING: MTN CEO resigns amid N1.04tr fine

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Sifiso Dabengwa, the group chief executive officer of MTN, resigned on Monday morning “with immediate effect”.

This development followed the N1.04tr fine imposed on its Nigerian arm by the Nigerian Communications Commission (NCC) for failing to deactivate 5.1 million unregistered SIM cards. His resignation was communicated to the shareholders on Monday.

Phuthuma Nhleko, the former MTN group CEO and current non-executive chairman, will take on an executive role until Dabengwa is replaced.

Stanbic IBTC Pension Managers

MTN South Africa CEO Ahmad Farroukh resigned in July after a protracted strike, less than a year after his appointment.

The fate of the Nigerian CEO, Michael Ikpoki, over the N1.0tr affair is yet unknown.

Stanbic IBTC Pension Managers

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