Telecoms giant, MTN Nigeria, has appointed a former Central Bank of Nigeria (CBN) governor and current Emir of Kano, Sanusi Lamido Sanusi as a Non-Executive Director effective July 1, 2019.
According to report, the appointment of the former CBN Boss is part of MTN board room shake-up at Africa’s biggest wireless carrier, which will also see the on-boarding of South Africa’s former deputy finance minister Mcebisi Jonas as a new group chairman.
Sanusi’s Appointment against the backdrop of MTN listing: The appointment of Lamido in Nigeria comes as MTN prepares to list its local unit on the Nigerian Stock Exchange (NSE), a condition reportedly as part of the settlement of a $1 billion regulatory action three years ago.
Sanusi was a banker and appointed the CBN Governor on 3rd June 2009 for a five-year term. He was appointed as Emir of Kano by the Kano State Government in 2014.
Prior, Sanusi was awarded the National Honour of Commander of the Order of the Niger (CON) by His Excellency, President Goodluck Jonathan.
Former South African deputy finance minister as Chairperson: Similarly, MTN group also announced that former South African deputy finance minister, Mcebisi Jonas, has been appointed its chairperson-designate. Jonas will assume the position of chair of the group on December 15, when the current chairperson Phuthuma Nhleko steps down.
“we are pleased to welcome onto the Board Lamido Sanusi and Vincent Rague with effect from 1 July 2019. Lamido Sanusi is a Nigerian national, the Emir of Kano and a former Governor of the Central Bank of Nigeria.
Vincent Rague is a Kenyan national who worked for the International Finance Corporation for 24 years in a number of senior positions.”
MTN to establish international advisory: The telecoms provider said it would also establish an international advisory board made up of prominent persons of considerable and wide-ranging experience.
“The advisory board will counsel, guide and support the MTN Group in its vision of growing its African and global footprint in telecommunications and increasing digital inclusion.”
Reasons for MTN Advisory Board: In recent years, MTN Group has reportedly experienced challenging regulatory environments and highly competitive trading conditions. The MTN Group board of directors has also managed the transition of senior management during this period. Hence, the Board is of the view that MTN Group has entered a more stable and settled phase, enabling it to now affect the evolution of the Board.
[Also Read: MTN Nigeria changes status to a public company ahead of June IPO]
According to the telecoms giant, the Board resolved to establish an international advisory board (IAB) of prominent persons of considerable and wide-ranging experience.
The primary purpose of the IAB will be to counsel, guide and support the MTN Group from time to time in fulfilling its vision and objective of being one of the premier African corporations with a global footprint in telecommunications, contributing to increased digital inclusion in Africa and the Middle East.
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