The Mobile Telecommunications Network (MTN) has notified the Nigerian Stock Exchange, investors and other stakeholders that following the expiration of the tenure of the Dr. Paschal Dozie Board, six of the non-executive directors will be retiring with effect from 2nd September 2019.
Apart from Dozie, other retirees, according to the notification by the country’s largest mobile network provider are Col. Sani Bello, Chief Victor Odili, Mallam Ahmed Dasuki, Mr. Babatunde Folawiyo, Mr. Gbenga Oyebode.
The incoming chairman is former Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr Ernest Ndukwe.
Others on the new board include a former Minister of Communications and Technology, Mrs. Omobola Johnson; former President of the Nigerian Bar Association (NBA), Mr. A. B. Mahmoud; and former Chairman of the Federal Inland Revenue Service, Mrs. Ifueko Okauru.
▪Mr. Ferdinand Moolman Chief Executive Officer
▪Mr. Michael Onochie Ajukwu Independent Non-Executive Director
▪Mr. Muhammad K. Ahmad, OON Independent Non-Executive Director
▪Mr. Andrew Alli Non-Executive Director
▪Mr. Rhidwaan Gasant Independent Non-Executive Director
▪Mr. Ralph Mupita Non-Executive Director
▪Mr. Paul Norman Non-Executive Director
▪Mr. Jens Schulte-Bockum Non-Executive Director
▪Mr. Rob Shuter Non-Executive Director
▪Mr. Karl Toriola Non-Executive Director
The MTN Nigeria CEO Ferdinand Moolman acknowledged the the vital contribution made by the outgoing Directors over the last 18 years.
“On behalf of MTN Nigeria, I would like to offer our heartfelt thanks to our pioneering Chairman, Pascal Dozie and the outgoing Directors. Our journey over the last 18 years has been incredible, and it would not have been possible without the initial entrepreneurial spirit of our founding directors, and their unfailing and dedicated support for MTN Nigeria’s vision over the years. I could not have asked for a more supportive, knowledgeable and experienced group of advisors.”
Speaking on behalf of the outgoing Directors Dr Pascal Dozie said: “In 2001, when I made the first call on the MTN Nigeria network, I don’t think anyone envisaged the pace and scale of growth that we, and the broader telecoms sector would achieve over the next 18 years. It is a unique story that we are immensely proud of.
“Having served as Chairman of MTN Nigeria for all of those 18 years, I achieved a long -held ambition earlier this year, when MTN Nigeria listed on the Nigerian Stock Exchange, providing an opportunity for a wider pool of Nigerians to become investors in the company. I cannot think of a better time to be handing over the reins of the company to a new Chairman, and to a new group of distinguished Nigerian Directors. Not only is this in line with best practice, which we are fully committed to as a member of the premium board of the Nigerian Stock Exchange, it is also absolutely aligned to the company’s future.
“On behalf of the out-going Directors, I would like to thank the Board and Management of MTN Nigeria for their support over the years and to welcome the incoming directors. They have a hugely exciting future in front of them, and I believe, the opportunity to make the next 18 years even more successful than the last.”
Recall that two months ago, MTN Nigeria, owned by South Africa’s MTN Group, got listed on the Nigerian Stock Exchange (NSE) in a N2 trillion flotation.
The company’s shares jumped 10 percent from the listing price of 90 naira after the float went live.
Nigeria’s 52 million subscribers on the MTN’s network contribute to making it account for a third of MTN’s group profit
Chief Executive Officer of The NSE, Oscar Onyema said of MTN’s listing in May:.“The telecoms space accounts for a little over 9 percent of GDP so bringing in the big companies in that space is very critical for us and MTN being the largest and the market leader, this is a major listing for us”.