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Nigeria woes cause MTN Chairman to resign

09 November 2015, 07:42Gift Ndolwane

Johannesburg - The MTN Group has appointed a new chairman following the resignation of Sifiso Dabengwa, whose resignation is the latest twist in the company’s problems in Nigeria.

Phuthuma Nhleko has been appointed as Executive Chairman in a temporary capacity.

Dabengwa confirmed his resignation on Monday 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," stated Dabengwa.

Also Read: Nigerian regulator: Won't buckle to pressure over MTN fine

Nhleko, the current Non-executive Chairman has agreed to act as Executive Chairman for a maximum period of six months while the Company identifies a successor for Dabengwa.

“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,” commented Nhleko.

He said Together with the MTN Board, his 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,” Nhleko said.

The Nigeria Communications Commission (NCC) recently fined MTN a record N1,04 trillion (US$5,2 billion) for failure to disconnect millions of unregistered subscribers.

- CAJ News

Tags mtn

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