Pascal Dozie out, Ernest Ndukwe next chair as MTN shakes up Nigeria board

Date:

ABUJA, July 24 – MTN Nigeria has appointed former telecoms regulatory chief Ernest Ndukwe as chairman-designate in a board shake-up following its debut stock market listing on the Nigerian bourse.

Thank you for reading this post, don't forget to subscribe!

Majority owned by South Africa’s MTN Group, MTN Nigeria listed in Lagos in May in a 2 trillion naira ($6.54 billion) debut, in part to settle a long-running dispute in Nigeria, its biggest market.

That listing turned the telecoms company into the exchange’s second-largest stock by market value.

Ndukwe, ex-chief executive of the Nigerian Communications Commission (NCC), will take over from Pascal Dozie, who has been at the helm for almost two decades, on Sept. 2, MTN said.

In addition to Ndukwe, MTN has appointed former Nigerian pension regulatory chief Muhammad Ahmad, ex-minister for communication Omobola Johnson and ex-banker Andrew Alli who once represented the International Finance Corporation to MTN Nigeria’s board.

“(The) combination of extensive experience across the worlds of technology, finance, regulatory and policy development and corporate governance offers a hugely synergistic set of skills that will be of great benefit to us as we move into a new phase of growth,” MTN Nigeria Chief Executive Ferdinand Moolman said.

MTN Nigeria grew to become Nigeria’s biggest telecoms firm under Dozie, who steps down alongside five other directors after 18 years at the helm of the company.

In December, MTN agreed to make a $53 million payment to resolve a multibillion-dollar dividend repatriation row in Nigeria after it paid over $1 billion to settle a dispute over unregistered SIM cards and agreed to list on Nigeria’s bourse.

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

Share post:

Subscribe

Popular

More like this
Related

“Two broke people dating should be a crime” – Cynthia Morgan

March 28, 2024. Azonuchechi Chukwu. Nigerian singer, Cynthia Morgan has explained...

Positive Outlook for Nigeria as Interest-Rate Increases Spark Investor Interest

Nigeria Leads Emerging-Market Rebound Amidst Policy ReformsAs the first...

“West Africa’s Cocoa Crisis: Chocolate Prices Soar Amidst Devastation”

Janet Gyamfi, a 52-year-old cocoa farmer from western Ghana,...

Nigeria’s New Mining Licensing Strategy: A Shift Towards Local Processing

Nigeria is shifting its mining licensing process to prioritize...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading