The embattled chief executive of South Africa-based mobile phone giant MTN has resigned over a $5.2bn (£3.4bn) fine imposed on the firm by Nigeria.
“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,” the BBC quoted Sifiso Dabengwa as saying in a statement.
MTN has a November 16 deadline to pay the fine, imposed over its failure to register all Sim cards.
This allegedly opened the way for the Boko Haram sect to use the network.
MTN said its non-executive chairman, Phuthuma Nhleko, would act as executive chairman until a successor to Mr. Dabengwa is found.
Mr. Nhleko said he would continue to seek a solution to the dispute with Nigeria over the fine.
