The Chairman of the Board of the Cyprus Telecommunications Authority (Cyta) Stathis Kittis tendered his resignation on Friday to President Nicos Anastasiades.

The resignation was submitted today in the wake of investigations into a multi million purchase of property at Dromolaxia by Cyta, which a commission of inquiry, set up by the government, is examining.

Kittis and another Cyta employee along with three other persons, two of whom are officials of the main opposition party AKEL, were remanded in custody in connection with the inquiries but all were later on released.

In statements Deputy Government Spokesman Victoras Papadopoulos said the President accepted Kittis` resignation.

Speaking after his meeting with the President, Kittis recalled that he had said he would resign after completing Cyta`s annual report.

Asked is he feels bitter over this development, Kittis refrained from commenting, noting that the inquiries must be completed to clear the air.

“I think I have nothing to hide. I was like an open book in all my actions,” he added.

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