MTN Group New boss, Phuthuma Nhleko hints at $5.2 billion fine reduction

Nhleko was named executive chairman of MTN for up to six months after former CEO Sifiso Dabengwa resigned with immediate effect on Monday.

The newly appointed of South Africa’s MTN Group, Phuthuma Nhleko, has hinted that he would seek a reduction on the $5.2 billion fine imposed on the company’s Nigerian arm by Nigerian regulator, the NCC.

Nhleko was named executive chairman of MTN for up to six months after former CEO Sifiso Dabengwa resigned with immediate effect on Monday.

play Sifiso Dabengwa has resigned from his position as CEO of MTN Group
(itnewsafrica)

According to Reuters, Nhleko says his first priority is Nigeria, Africa’s most populous nation and MTN’s largest market.

"I can't say whether we'll pay the whole fine. I don't want to negotiate with Nigerian regulators on a public forum," Nhleko, also a former CEO of MTN, said according to the Reuters report