South Africa's MTN Group said, on Monday, its chief executive office has resign as the telecoms firm continued talks with the Nigerian government over a $5.2 billion (about N1 trillion) fine.
Non-executive chairman, Phuthuma Nhleko, was appointed executive chairman for a maximum of six months after Sifiso Dabengwa stepped down, Africa's biggest mobile phone company said in a statement.
MTN was fined in October by the Nigerian telecoms regulator for failing to cut off users with unregistered SIM cards.
"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," Dabengwa said in a statement.
MTN said it continued talks with authorities in Nigeria, the company's biggest market, over the fine.
Dabengwa has been chief executive of MTN since 2011.
Shares in MTN have slid about 17 per cent since October 26 to 157 rand by Friday, following news of the charge.
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