Uncategories MTN GROUP CEO RESIGNS OVER $5.2 BILLION FINE

Monday, 9 November 2015



MTN GROUP CEO RESIGNS OVER $5.2 BILLION FINE

November 09, 2015

Telecommunications 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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