The fallout over MTN’s Nigerian fine saga has claimed the company’s CEO Sifiso Dabengwa‚ it was announced on Monday.


The company said it had appointed Phuthuma Nhleko as executive chairman “in a temporary capacity” after Dabengwa resigned.

"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‚" said Dabengwa.

Nhleko‚ who is 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…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.

“Stakeholders are reminded that MTN will continue to inform them of any material engagements with the Nigerian authorities via the Stock Exchange News Service of the JSE Limited‚” a company statement said..

“Shareholders are advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made.”