MTN CEO resigns

While senior executives negotiate with Nigerian regulators about the payment of the $5.2 billion fine, MTN CEO Sifiso Dabengwa (pictured) has tendered his resignation.

According to MTN group executive of Corporate Affairs, Chris Maroleng, Dabengwa's resignation is not an admission of guilt. Dabengwa himself said in a statement that his decision to resign was "in the interest of the company and its shareholders".

Phuthuma Nhleko, current chairman, will replace Dabengwa for the next few months while MTN looks for a permanent replacement.

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