NCC Fine Drama! MTN Group CEO, Sifiso Dabengwa resigns over N1.04 Trillion levy

Over the last couple of weeks, the latest trending report based on the MTN network is the fact that the company has been fined a whooping sum of $5.2 billion which equals to N1.04 trillion in Naira.

If you are wondering why the Nigerian Communication Commission (NCC) levied such amount on MTN, it’s as a result of the company being reluctant in deactivating over 5.1 million lines which didn’t properly partake in the SIM registration process.

MTN CEO, Sifiso Dabengwa resigns
Following the fined amount on the telecommunication company and based on the company shares falling really low for the first time since 1998, MTN C.E.O, Sifiso Dabengwa, has tendered his resignation.

According to a statement proving his resignation, Dabengwa said:

Due to the most unfortunate prevailing circumstances occuring at MTN Nigeria, I, in the interest of the company and it’s shareholders, have tendered my resignation with immediate effect.

Taking over for the time being, is Phuthuma Nhleko who is the current non-executive chairperson. Mr Nhleko has agreed to take over the C.E.O position for a maximum period of 6 months while the company looks forward to appointing a successor for Dabengwa.

In a statement regarding the new role, Mr Phuthuma Nhleko said:

“I will assume responsibility as Executive Chairman for the next 6 months as I proactively deal with the Nigerian regulator and will continue to work with them in addressing the issues around unregistered subscribers as a matter of urgency”.

“Together with the MTN Board, my second priority will be to find an appropriate Chief Executive Officer to take MTN forward. I will then revert to my Non-executive Chairman role,” he added.

Based on reports, it was disclosed that it became necessary for Mr Sifiso Dabengwa to resign because MTN Nigeria had initially contacted him and asked that the unregistered Sims be deactivated and review the group’s subscribers growth estimate of which he declined.

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Samuel Adeniyi

A lover of gadgets! I am particularly enthusiastic about phones and i enjoy writing on the subject matter. Love to have a blog like this? Shoot me a mail:).


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