Karl Toriola, new MTN Nigeria CEO makes first capital market appearance

Karl Toriola

Karl Toriola, new MTN Nigeria CEO makes first capital market appearance



The chief executive officer of MTN Nigeria Communications Plc, Karl Toriola, made his first appearance at the Nigerian capital market on Monday, March 1, 2021, the same day that he resumed office.

Toriola was honoured with the Nigerian Stock Exchange (NSE) digital Closing Gong and this marked his first official engagement at the exchange in his new capacity.

He began his investiture as the CEO of the Africa’s telecoms giant in its biggest market, succeeding Ferdi Moolman, who had led the organization through the thick and the thin in the country since his appointment on September 1, 2019.

Speaking at the event, Toriola appreciated the NSE in its entirety for offering him the  distinguished honour of ringing the closing bell on the first day of his tenure as CEO of MTN Nigeria.

He said: “I must also thank the Board, shareholders and staff of MTN Nigeria even as I reflect on the responsibility on my shoulder to lead what is the largest corporate by revenue outside the oil industry and the second-largest corporate listed on the NSE as at today.

“I am committed to leading MTN Nigeria to deliver on our responsibility to the over 70 million Nigerian customers that use our services to ensure they stay connected and can access increasing value and better services through our network; our role as a corporate citizen in the recovery and growth of the Nigerian economy; and our need to deliver value and drive share price for the good of our shareholders.”

On his part, Oscar Onyema, the CEO of NSE, congratulated Toriola on behalf of the national council and management of the NSE on his appointment as the CEO of MTN Nigeria.

He described Toriola as a versatile leader who comes with vast knowledge and relevant experience spanning over 25 years, expressing his delight that bourse could host him on his first day on the job.

“At the NSE, we continue to provide a platform to support our clients in meeting their strategic business objectives and we are pleased to see listed companies take full advantage of the NSE’s products and services.

“I, therefore, use this opportunity to invite MTN Nigeria Plc and other stakeholders to partner with The Exchange across the various themes of capital formation, capacity building, sustainability, and many others.”

He said the NSE has continued to remain resilient leveraging various digital platforms and innovative technology to ensure business continuity and uninterrupted dissemination of information to the market.

According to Onyema, the investments made by the exchange in this regard have indeed proven to be worthwhile given the extraordinary times we now live and work.

In April last year, NSE launched the digital Closing Gong Ceremony and since then, it has hosted several webinars, virtual events and interactive sessions with esteemed stakeholder groups.