MTN Nigeria Director Kola-Oyeneyin to Exit Board Aug 31 Amid Record Profits
MTN Nigeria announced that Mrs. Eyitope Kola-Oyeneyin will step down from its Board of Directors as an Independent Non-Executive Director, with her resignation taking effect on August 31, 2026, per a regulatory filing to the Nigerian Exchange on August 28. Kola-Oyeneyin joined the board in January 2025 and is widely recognized as a transformation and systems-change expert with over 25 years’ experience in banking, consulting, digital transformation and public policy, currently serving as Managing Partner of Augmentum Advisory.
Her departure comes shortly after President Bola Tinubu appointed her Chairperson of the Nigerian Investment Promotion Commission (NIPC), part of a government push to place experienced private‑sector leaders in key economic institutions. The filing noted MTN’s appreciation for her contributions and wished her success in future endeavours.
The announcement coincides with MTN Nigeria’s strong half‑year 2026 results: profit before tax hit a record N1.09 trillion, up 75.4% year‑on‑year, while revenue rose to N2.99 trillion (a 25.9% increase). Shareholders’ equity grew to N930.6 billion (+69.6%) and earnings per share reached N33.76 (+70.6%), driven by robust data demand, improved efficiency and lower borrowing.
With her dual exit from MTN’s board and new NIPC role, what does this shift mean for the telecom giant’s governance and for Nigeria’s investment attraction agenda?