MTN Nigeria appoints Karl Toriola as CEO

Posted by on Oct 26, 2020, Under: News

MTN Nigeria appoints Karl Toriola as CEO

MTN Nigeria is pleased to inform the Nigerian Stock Exchange (The Exchange), the government investor and other interested parties, that Mr. Karl Toriola has been appointed as CEO.

His appointment will take effect on March 1, 2021, giving ample time for an orderly transition.

Toriola is currently Vice President of West and Central Africa (WECA), excluding Nigeria and Ghana, a position he took in 2016. During this time, he oversaw the steady progress of operating companies in the region, in particular the restoration of MTN Costa d ‘Ivory and MTN Cameroon.

Karl Toriola increased his stake in the telecom operator by purchasing 920,000 common shares, as it was discovered on the Nigerian Stock Exchange platform.

An analysis of the cumulative information showed that Toriola purchased 920,000 common shares at a price of N118 per share on June 25, 2020 in Lagos, Nigeria.

As a result, the total purchase amount was 920,000 shares for 108,560,000 shekels.

Short profile

During his tenure, the WECA markets have made enormous and strategic advances. This includes increasing market share in the region and developing mobile financial services.

Since joining the Group in 2006, Toriola has also held several senior operating positions including Chief Technology Officer of MTN Nigeria, CEO of MTN Cameroon and CEO of MTN Group. Mr. Toriola has worked with the MTN Group at various times, was responsible for the oversight functions of the Group’s 16 subsidiaries and serves on various MTN Boards of Directors, including MTN Nigeria.

Mr. Toriola holds a BS in Electronics and Electrical Engineering from Ife University, an MS in Communication Systems from the University of Wales and attended the General Management program at Harvard Business School. In addition, he attended several continuing education courses at various institutions including the Wharton Business School, the Institute for Management Development and the London Business School.

Source: – Brandspurng