MTN Nigeria Communications Plc has announced the appointment of five new directors to its Board of Directors as part of efforts to strengthen its corporate governance structure, improve strategic leadership and support the company’s long-term growth.
The telecommunications company disclosed the appointments in a notification submitted to the Nigerian Exchange Limited (NGX) and the investing public on November 3, 2026.
According to the notification, the appointments will take effect from December 1, 2026.
The newly appointed directors are Ibrahim Dikko, Boye Olusanya, Professor Fabian Ajogwu, Imoni Akpofure and Lwazi Bam.
While Dikko and Olusanya have been appointed Independent Non-Executive Directors, Ajogwu, Akpofure and Bam will serve as Non-Executive Directors.
MTN Nigeria said the new directors would bring extensive professional experience and expertise from different sectors to strengthen the board’s operations and contribute to the company’s growth and future direction.
Dikko and Olusanya Bring Extensive Industry Experience
Ibrahim Dikko brings more than 30 years of professional experience across banking, telecommunications, information and communications technology, and regulatory advisory.
He previously served as Chairman of First Securities Discount House Limited between 2002 and 2012.
Dikko also held the position of Vice President, Regulatory and Corporate Affairs at EMTS Limited, formerly known as Etisalat Nigeria, from 2007 to 2017.
His professional background and understanding of Nigeria’s telecommunications and financial sectors are expected to contribute to the company’s corporate governance and strategic decision-making.
He holds a Bachelor of Laws degree from the University of Buckingham and a Master of Laws degree from Queen Mary and Westfield College, University of London. He was also called to the Nigerian Bar.
Similarly, Boye Olusanya joins the board with more than 25 years of executive leadership experience across several industries, including telecommunications, agriculture, technology, energy, infrastructure and financial services.
Olusanya currently serves as Group Chief Executive Officer of FMN Holdings Limited, where he oversees the company’s strategic transformation into a vertically integrated food and agro-industrial business.
His experience in organisational restructuring, operational management, business expansion and strategic acquisitions is expected to provide additional leadership capacity to MTN Nigeria.
Ajogwu, Akpofure and Bam Join as Non-Executive Directors
Professor Fabian Ajogwu, a Senior Advocate of Nigeria (SAN), is among the prominent professionals appointed to the board.
Ajogwu is a Professor of Corporate Governance at Lagos Business School and Senior Partner at KENNA LP, with approximately 35 years of legal practice experience.
He has played significant roles in the development of corporate governance frameworks in Nigeria, including assisting the Securities and Exchange Commission (SEC) in drafting the country’s pioneering Code of Corporate Governance.
He also served on the Financial Reporting Council of Nigeria Committee responsible for the National Code of Corporate Governance 2018.
Ajogwu holds a PhD in Law from the University of Aberdeen, Scotland, an MBA from IESE Business School in Barcelona, and law degrees from the University of Nigeria and the University of Lagos.
He is also the founder of the Society for Corporate Governance Nigeria and a recipient of the national honour of Officer of the Order of the Federal Republic (OFR).
Another appointee, Imoni Akpofure, brings nearly three decades of experience in finance, infrastructure investment and sustainability, particularly across Sub-Saharan Africa.
Her professional career includes senior leadership positions at the International Finance Corporation (IFC), CDC Group, now known as British International Investment, and KINA Advisory.
Akpofure currently serves on the boards of Africa50 and the Development Bank of Nigeria, where she contributes her expertise in infrastructure financing, investment and corporate governance.
Meanwhile, Lwazi Bam brings extensive experience in corporate risk management, business strategy and organisational leadership.
Bam joined MTN Group on June 1, 2026, as Group Chief Risk Officer.
Before joining the telecommunications group, he served as Chief Executive Officer of Deloitte Africa and Deloitte Southern Africa between 2012 and 2022.
During his nearly three decades at Deloitte, he held several senior leadership positions and served on the company’s Global Executive Committee.
He also previously served on the boards of Standard Bank Group and Valterra Platinum and currently sits on the boards of Woolworths Holdings Limited and ZEDA Limited.
Appointments Come Amid Strong Financial Performance
The board appointments come as MTN Nigeria continues to record significant improvements in its financial performance.
For the nine months ended September 30, 2026, the telecommunications company reported a 59.4 per cent increase in profit before tax to N1.80 trillion, compared with N1.13 trillion recorded during the corresponding period in 2025.
Its revenue also increased by 23.6 per cent to N4.61 trillion, up from N3.73 trillion in the previous year.
Similarly, profit after tax rose by 55.3 per cent to N1.17 trillion from N750.19 billion, reflecting improved earnings during the reporting period.
The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 36.8 per cent to N2.62 trillion, while its EBITDA margin improved to 56.9 per cent from 51.4 per cent.
The growth was largely supported by its data business, which recorded a 35.8 per cent increase in revenue to N2.68 trillion, accounting for 58.5 per cent of total service revenue.
The performance highlights the growing contribution of data services to the company’s overall business operations as demand for internet connectivity and digital services continues to expand.
Focus on Governance and Long-Term Growth
The appointment of the five directors represents an important development in MTN Nigeria’s leadership structure, bringing together professionals with experience in telecommunications, banking, law, infrastructure, finance and corporate risk management.
Their combined expertise is expected to support the company’s strategic priorities, strengthen oversight and provide guidance as it navigates the increasingly competitive telecommunications and digital services market.
With the appointments scheduled to take effect on December 1, 2026, attention will be on how the expanded board contributes to MTN Nigeria’s business objectives, operational efficiency and continued financial growth.
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