MTN Nigeria taps Kola-Oyeneyin, Nwuneli, Pennington as directors

Joseph Olaoluwa 

MTN Nigeria simulated ₦242.81 ▼0.37% Communications, the country’s largest telecommunication company, has appointed three new directors to its board.

The telco said in a filing with the Nigeria Exchange Limited that the appointment of Eyitope Kola-Oyeneyin, Odumezuo Nwuneli, and Tim Pennington will be effective 2 January 2025. 

The appointments come amid the company’s quest for additional licences in facilitating payments in Nigeria.

Kola-Oyeneyin, managing partner of Augmentum Advisory, is a seasoned systems change leader and transformation expert with over 20 years of global experience as a senior advisor, operating executive across multiple African countries, and policymaker. 

She served as head of First Bank’s International banking business and partner and inaugural co-lead of McKinsey’s Payments and Fintech Practice for Eastern Europe, the Middle East, and Africa. 

Nwuneli is the managing partner of Sahel Capital, a food and agribusiness-focused private investment firm investing across sub-Saharan Africa. He has over 27 years of private equity, investment banking, and corporate finance experience. He previously worked in the financial services, Downstream Petroleum, and Telecommunications sectors. 

Prior to founding Sahel Capital, Mr. Nwuneli held roles at J.P. Morgan & Co., Ocean and Oil Holdings, MTS First Wireless, and AFIG Funds. He also serves as Chairman/Co-Founder of AACE Foods, a Nigeria based food manufacturing company, and Chairman/Co-Founder at Sahel Consulting an agriculture focused management consulting firm. 

Pennington is an Independent Non-Executive Director on the Board of MTN Group Limited. He was the Chief Financial Officer of Millicom International Cellular from 2014 until March 2022. He has served as CFO in other international companies listed in New York, London, Stockholm and Hong Kong.