Norway's Minister of Research and Higher Education, Ola Borten Moe, announced his resignation on Friday after admitting to breaching the government's integrity rules, reported Xinhua.
"I also resigned as deputy leader of the Center Party," he said at a press conference.
The allegations against Borten Moe surfaced when it was revealed that, in January, he participated in a government meeting concerning a multibillion-dollar contract for the ammunition manufacturer Nammo. Prior to the meeting, he purchased shares worth over 400,000 Norwegian kroner (39,700 U.S. dollars) in Kongsberg Gruppen, a company partially owned by Nammo.
Moreover, the minister confessed to making other share purchases in recent years that are now considered to be violations of the government's guidelines on integrity.
Norwegian Prime Minister Jonas Gahr Store said that Borten Moe's resignation was the right course of action.
Borten Moe's resignation marks the second instance of a minister stepping down within a month due to allegations of integrity breaches in Norway. Anette Trettebergstuen, the former Minister of Culture and Equality, resigned on June 23.