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

Dr Ernest Ndukwe, Executive Vice Chairman and CEO, Nigerian Communications Commission (NCC), at the Broadband Commission Working Group on Youth: Young Solutions to Global Challenges 2011

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.

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.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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