Jobs/Appointments
Toriola Emerges CEO as MTN Nigeria Reshuffles Management
By Adedapo Adesanya
MTN Nigeria has reshuffled its top management team with the appointment of Mr Karl Toriola as its new Chief Executive Officer (CEO) effective March 1, 2021.
This was disclosed on Monday in a notice to the Nigerian Stock Exchange (NSE) and signed by the company’s secretary, Mrs Uto Ukpanah, who explained that the March 2021 handover date is to provide enough time for a smooth transition.
Mr Toriola, who currently serves as the vice president West and Central Africa (WECA), excluding Nigeria and Ghana, is taking over from the current CEO, Mr Ferdinand Moolman, who will exit the role to assume a new role as MTN Group Chief Risk Officer.
In his capacity as VP WECA, Mr Toriola, since 2016, has overseen the steady progress of the operating companies in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon.
During his tenure, the WECA markets have made significant commercial and strategic strides. These include the improvement of market shares within the region and the development of mobile financial services.
Since joining the group in 2006, he has also held a number of senior operational roles including Chief Technical Officer of MTN Nigeria, CEO of MTN Cameroon and MTN Group Operations Executive.
Mr Toriola has at various times in his career in MTN Group had oversight responsibility of 16 of the group subsidiaries and serves on various MTN boards, including MTN Nigeria.
He obtained a Bachelor of Science in Electric and Electrical Engineering from the University of Ife, a Master of Science degree in Communication System from the University of Wales, and attended the General Management Programme at Harvard Business School.
In addition, he has attended several executive development courses at various institutions including Wharton Business School, Institute of Management Development and London Business School.
He is a Fellow, Nigerian Society of Engineers and Council Registered Engineers of Nigeria (COREN) as well as a member, Institute of Directors.
Speaking on the appointment, Mr Ernest Ndukwe, Chairman of MTN Nigeria, in his remarks, said, “After a thorough and rigorous selection process, we are delighted to welcome Karl back to MTN Nigeria.
“Recognized throughout the industry as a highly experienced and well-regarded business leader, Karl has been a member of the MTN family for over 14 years and has an intimate understanding of the telco business. His appointment further reaffirms the company’s commitment to succession planning as well as retaining and developing identified high performing executives.
“With his rich credential, I am personally pleased that Mr Karl Toriola is well-suited to lead MTN Nigeria’s executive management team through the next stages of growth in the years ahead.”
The current CEO of MTN Nigeria, Mr Ferdinand Moolman, joined MTN in 2002 and has held several senior positions within the group in Nigeria and Iran. He joined the board of MTN Nigeria in 2014 as chief financial officer and became CEO in 2015.
Under his leadership, significant progress has been made in stabilising the business and setting it on a sustainable growth path. He will remain on the board of MTN Nigeria in his new role as the MTN Group Chief Risk Officer.
“The board of MTN Nigeria wishes to express its gratitude to Ferdi for his exemplary leadership at MTN Nigeria. He has played a critical role in the company’s development and success and while we will miss him, we wish him the best in his new role at MTN Group,” said Mr Ndukwe.
By Aduragbemi Omiyale
The conclusion of the 2025 Performance Appraisal Exercise of Abuja Electricity Distribution Company (AEDC) has resulted in the promotion and step increments of about 1,126 employees of the organisation.
The reward for performance involved the promotion of 547 employees and 579 step increments, reaffirming the company’s unwavering commitment to recognising excellence, rewarding performance and building one of Africa’s most admired workplaces.
AEDC disclosed that these actions reflect its deliberate investment in its people as the energy firm accelerates its transformation into a customer-centric, high-performing electricity distribution company with global standards and Pan-African aspirations.
The promotions and step increments, approved by the management, recognise employees who have demonstrated exceptional commitment, professionalism and outstanding performance in advancing AEDC’s strategic objectives.
However, employees who were not successful in the current appraisal cycle have been urged to remain committed, emphasising that the performance management process is designed to support continuous growth, capability development and future advancement opportunities.
“Our people remain our greatest asset and the foundation upon which AEDC’s future will be built. Today’s announcement is more than a reward for performance; it is a reaffirmation of our belief that excellence should always be recognised, talent should be nurtured and hard work should create opportunities for growth.
“As we continue our transformation journey, we are building an organisation where our employees can develop rewarding careers, realise their full potential and proudly contribute to creating one of Africa’s leading electricity distribution companies,” the chief executive of AEDC, Mr Chijioke Okwuokenye, stated.
He added that AEDC is intentionally creating a workplace where merit, continuous learning, innovation and collaboration drive career progression, while employee wellbeing remains central to its long-term strategy.
By Adedapo Adesanya
Nigerian international lawyer and anti-corruption specialist, Mr Ibrahim James Pam, has been appointed Acting Director-General of the World Bank Group’s Compliance Advisor Ombudsman (CAO), a key independent accountability body within the institution.
The appointment, approved by the boards of the World Bank Group, will take effect on August 2, 2026.
Mr Pam, who currently serves as Chair of the World Bank Inspection Panel, will oversee the CAO on an interim basis pending the appointment of a substantive Director-General and Vice President of the World Bank Group Independent Accountability Mechanism.
The development was announced in a statement issued by the Head of Communications of the Compliance Advisor Ombudsman, Emily Horgan, who said the arrangement was designed to ensure continuity during the organisation’s leadership transition.
“In view of the forthcoming leadership transition at the Compliance Advisor Ombudsman (CAO), the World Bank Group Boards have designated Ibrahim Pam, Chair of the Inspection Panel, to concurrently serve as acting CAO Director General, effective August 2, 2026,” the statement said.
“Mr Pam will serve in this role until the new World Bank Group Independent Accountability Mechanism Director General/Vice President is appointed.”
The Compliance Advisor Ombudsman is the independent accountability mechanism for projects financed by the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), both members of the World Bank Group.
Created in 1999, the CAO reports directly to the boards of IFC and MIGA and handles complaints from individuals and communities affected by projects supported by the two institutions, while promoting environmental and social accountability.
Mr Pam, who is married with children and grandchildren, brings extensive experience in international law, anti-corruption, compliance, human rights and criminal investigations to the role.
He is the son of the late Lt. Col. James Pam, a former Adjutant General of the Nigerian Army, and Mrs Ngo Elizabeth Pam, a human rights advocate who served on the Human Rights Violations Investigation Commission, popularly known as the Oputa Panel, as well as the Plateau Peace Conference.
Over the years, Mr Pam has built a distinguished international career investigating human rights violations, financial crimes, fraud, institutional misconduct and mass atrocities across several jurisdictions.
He has served as a member of the World Bank Inspection Panel since January 2023. Prior to that, he was Head ad interim of the Independent Redress Mechanism of the Green Climate Fund in Songdo, South Korea, between August 2022 and March 2023, after leading the Fund’s Independent Integrity Unit from November 2016 to November 2022.
His professional experience also includes roles with the United Nations Office of Internal Oversight Services (OIOS), where he served as Resident Investigator with the UN Mission in South Sudan, the African Development Bank’s Integrity and Anti-Corruption Department, and the Office of the Prosecutor at the International Criminal Court in The Hague.
Earlier in his career, he provided legal support to Nigeria’s Human Rights Violations Investigation Commission (Oputa Panel) between 2000 and 2002.
A graduate of the University of Jos, Mr Pam began his legal career at J.Y. Pam & Co. before working in private legal practice, the banking sector and later the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
While at the ICPC, he received the prestigious Chevening Scholarship, which enabled him to earn a Master’s degree in International Law and Justice Policy from the London School of Economics in 2005
His appointment is expected to strengthen the World Bank Group’s accountability and oversight framework, given his extensive background in governance, integrity, compliance and international justice.
Jobs/Appointments
UNIZIK Appoints Nicholas Okoye Visiting Senior Lecturer, to Strengthen Digital Assets Education
Nnamdi Azikiwe University (UNIZIK) has appointed veteran investment banker and capital markets expert, Nicholas “Nicky” Okoye, as a Visiting Senior Lecturer in a move aimed at strengthening its capital markets and digital assets curriculum amid the growing global adoption of virtual assets and blockchain-based finance.
The appointment, which takes immediate effect, is expected to deepen the university’s capacity to train enterprise executives, entrepreneurs and policymakers in emerging areas such as cryptocurrencies, stablecoins, Central Bank Digital Currencies (CBDCs), tokenisation of real-world assets and other digital financial innovations.
UNIZIK, which hosts one of Africa’s few dedicated Capital Markets faculties, said the appointment aligns with its strategy of equipping students and professionals with the knowledge and practical skills required to navigate the rapidly evolving financial ecosystem.
The university, in its statement, described the appointment as a significant milestone for the institution.
“Securing someone of Nicky Okoye’s calibre is a game-changer. As global finance evolves, we must equip enterprise executives, entrepreneurs and policymakers with the technical knowledge required to build long-term capital formation strategies. His real-world experience is invaluable.”
Okoye brings decades of experience across global and Nigerian financial institutions. His career includes serving as a Financial Consultant at Merrill Lynch in the United States, Chief Strategy Officer at the Nigerian Exchange Group, and Founding Group Executive Director of Operations and Strategy at Transcorp Group Plc, where he led fundraising initiatives that collectively exceeded $1 billion.
He currently leads the Global Investment Advisory Community (GIAC), a coalition of local and international banks, asset managers and fintech firms working to develop a digital assets ecosystem across Africa and the Caribbean.
Beyond the private sector, Okoye has contributed to public policy, providing advisory support to the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on capital market regulatory frameworks.
Stakeholders in the financial services sector have welcomed the appointment, expressing optimism that his academic engagement would help build capacity among investors and professionals as Nigeria expands its digital finance ecosystem.
Okoye also holds an honorary Doctor of Business Administration from Enugu State University of Technology, awarded in recognition of his contributions to enterprise development and business excellence.
He previously served on the Presidential Jobs Board and the National Council of Small and Medium Scale Enterprises, where he provided strategic advice on economic development. Between 2014 and 2018, he advised the Nigeria Content Development and Monitoring Board (NCDMB) on Project Triple E, an initiative designed to strengthen indigenous participation in the upstream oil and gas value chain by integrating community-based contractors.
The appointment comes as Nigeria intensifies efforts to establish a robust regulatory framework for digital assets. The Federal Government recently inaugurated a National Virtual Assets Council to coordinate the oversight and regulation of virtual and digital assets in the country.
The council is chaired by the Central Bank of Nigeria, with support from the Securities and Exchange Commission and the Nigeria Revenue Service, as part of broader efforts to promote innovation while ensuring investor protection and financial system stability.
