Sifiso Dabengwa, the embattled chief executive of MTN, has announced his resignation following sanctioned by the Nigerian government for failing to disconnect 5.1 million unregistered subscribers.
N1.04 trillion ($5.2 billion) fine imposed on the telecom giant by the Nigerian Communications Commission, NCC.
However, rumors suggested he might be replaced by Non-Executive Chairman, Phuthuma Nhleko, will act as executive chairman for a maximum period of six months while the company identifies a successor to Mr. Dabengwa, MTN said in a statement issued in Johannesburg on Monday.