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N1.04tr Fine: MTN CEO Resigns

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The crisis in MTN Nigeria has consumed its first casualty, the Group Chief Executive Officer, Mr. Sifiso Dabengwa, over the N1.04trillion imposed on the telecoms giant by the Nigerian Communications Commission (NCC).

Dabengwa resigned Monday morning “with immediate effect,” which was communicated to the shareholders on Monday.

The NCC had imposed the N1.04tr fine on MTN for failing to deactivate 5.1 million unregistered SIM cards.

It was learnt that the former MTN group CEO and current non-executive chairman, Mr. Phuthuma Nhleko, will take on an executive role until Dabengwa is replaced, while the fate of the Nigerian CEO of MTN, Michael Ikpoki, is yet to be decided.