Mobile phone giant MTN's biggest shareholder is demanding "more collective responsibility" at the company over the $5.2bn (£3.4bn) fine imposed on it by Nigeria, South Africa's financial publication fin24 reports.
The Public Investment Corporation (PIC) said MTN chief executive Sifiso Dabengwa had done the "noble thing" by resigning, but "a lot more people need to take collective responsibility for the fine that was imposed on MTN Nigeria for alleged failure to comply with regulatory requirements", said the PIC in a statement, fin24 reports.
The PIC added that questions remain about the role of the South Africa-owned company's board of directors.
"In particular, we question the role of the risk and compliance function within MTN," the publication quotes the statement as saying.
"Could risk and compliance have not foreseen that there were instances of noncompliance, which could lead to penalty? What actions were taken to address noncompliance and mitigate possible fallout?"
Source: BBC News
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