NatCom/ntel Reconstitutes Board of Directors
NatCom Development & Investment Limited (trading as ntel) today confirmed the appointment of a new board of directors replacing the previous board: Adeleke Alex-Adedipe, Dr. Ayodeji Joshua Richards, Maryam Mutallab, Olaide Aremu and Soji Maurice-Diya, who will serve as the MD/CEO of Ntel.
These new directors will continue to be led under the chairmanship of Gen. T.Y Danjuma and legacy director and leading minority shareholder Dr. Tunde Ayeni. The change reflects ntel’s renewed focus on serving the Nigerian telecommunications ecosystem at large, reenergizing finances and unlocking value from its existing infrastructure.
Under its new leadership, ntel is implementing a turnaround plan that emphasizes cash-flow stability, monetization of its nationwide assets, and a swift return to commercial service through broadband and roaming services. In a recent overview of the strategy, the company noted it is “monetizing its nationwide portfolio of telecommunication assets and real estate” as it seeks new revenue streams in the short term.
In a joint statement by the board, it said the new appointments come at a “defining moment” in the company’s recovery. “It is a rare privilege to steward ntel at such a defining moment,” it said. “We are energized by the opportunities ahead and look forward to working closely with the management to unlock greater value from our infrastructure and shape a future-focused, sustainable business. Our goal is clear: to position ntel as a robust, investor-friendly enterprise that delivers on Nigeria’s digital aspirations”.
It should be noted that bringing seasoned professionals onto the board strengthens governance and accelerates execution of the turnaround strategy. The new board members each bring complementary expertise aligned with Ntel’s priorities:
• Adeleke Alex-Adedipe – Managing Partner at law firm Duale, Ovia & Alex-Adedipe. A corporate and commercial lawyer with nearly 20 years’ experience, he leads the firm’s Technology, Media & Telecommunications practice and its M&A, banking and finance groups. His background in telecom transactions and finance documentation will support Ntel’s asset monetization and deal-making needs.
• Dr. Ayodeji Joshua Richards – A veteran banking executive (formerly a managing director at GTBank Gambia) with deep experience in financial oversight and corporate restructuring. He will strengthen the board’s capacity for fiscal governance and help ensure disciplined cash management during Ntel’s turnaround.
• Maryam Mutallab – Entrepreneur and education advocate. Founder of the Noble Hall Leadership Academy for Girls, she has led initiatives in youth development and built networks in telecom distribution for MTN as well as community projects. Her entrepreneurial perspective and telecom distribution experience will aid Ntel’s commercial strategy and community engagement efforts.
• Olaide Aremu – An ACCA-qualified finance executive and Group Chief Financial Officer, Ancestral Holdings – a vast multi-industry Nigerian conglomerate. With extensive experience in corporate finance, treasury management and internal controls, she adds critical oversight of financial planning and reporting as Ntel restores profitability.
Maurice-Diya emphasized that the composition of the board “aligns the skills we need with the tasks ahead,” noting that the collective directors’ vast and wide track record in law, finance, industry, public service and entrepreneurship will help ntel deliver on its commitments. He added that this strengthened governance structure is essential for building investor confidence and realizing ntel’s vision of becoming a sustainable, growth-oriented company in Nigeria.
