Telecom
MTN Nigeria Appoints Karl Toriola as New CEO

MTN Nigeria has announced the appointment of Mr. Karl Toriola as the CEO designate. His appointment is effective March 1, 2021, providing enough time for an orderly handover.

Karl Toriola
Mr. Toriola is currently the Vice President: West and Central Africa (WECA), excluding Nigeria and Ghana, a position he assumed in 2016.
During that period, he 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, Mr. Toriola 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.
Prior to joining MTN Nigeria, he was the Chief Operations/Regional Officer for Vmobile Nigeria (now Airtel Nigeria) where he was responsible for operations.
Mr. Toriola obtained a Bachelor of Science in Electronic and Electrical Engineering from the University of Ife, a Master of Science degree in Communication Systems from the University of Wales, and attended the General Management Program in Harvard Business School.
In addition, he has attended several executive development courses at various institutions including Wharton Business School, Harvard Business School, Institute of Management Development and London Business School.
He is a Fellow, Nigerian Society of Engineers (FNSE) and Council of Registered Engineers of Nigeria (COREN) as well as a Member, Institute of Directors.
Commenting about the appointment, Ernest Ndukwe, chairman of MTN Nigeria, said “After a thorough and rigorous selection process, we are delighted to welcome Karl back to MTN Nigeria.
“Recognised 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 credentials, 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, will exit this role with effect from 1st March 2021 and assume a new role as MTN Group Chief Risk Officer.
Mr. 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 (CFO) 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.
“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 Dr. Ndukwe.
In response, Ferdi Moolman said, “I wish to thank the Board of Directors, Management, our dedicated shareholders and my amazing team, for all of the support you have given me through the years.
“I am proud of the people of MTN Nigeria and the Company we are building; and while this is a time of great challenge and opportunity, I remain steadfastly confident in the greater potential and future of this nation and the significance of our role within it.
“It has been my honour and privilege to serve this great Company. I am grateful for my time here and the supportive relationships built over time.”
Commenting on his new appointment, Karl Toriola said, “I am delighted to be returning to serve in my country at such a critical point in history when the services we provide are so important to our national development.
“MTN Nigeria is a great company with exceptional people and extraordinary customers, who place a high value on those services.
“I have a clear focus on delivering a stellar network experience and enhanced customer service; and look forward to working with an outstanding group of leaders, in and out of government, over the coming years to continue harnessing our capabilities, transforming our relationships and delivering even greater value to our nation and her people.”
Telecom
SHELT Named in Prestigious 2025 MSSP 250 List for Cybersecurity Excellence

SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.

SHELT
The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.
SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.
“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”
The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.
Telecom
X Suspends Twitter Account for Rules Violation

X, the social media platform formerly known as Twitter, has suspended the @Twitter account, replacing its profile with a standard notice citing violation of platform rules.

Musk
The action, which occurred on Sunday, January 11, left users encountering the handle greeted by a bold “Account Suspended” message on a black screen, with no details provided on the specific rules broken or the duration of the suspension.
The development has sparked widespread confusion and nostalgia among users, given that Elon Musk rebranded Twitter to X in July 2023, approximately six months after acquiring the platform for $44 billion in late 2022.
The @Twitter handle had remained dormant since before Musk’s takeover, serving as a legacy remnant of the platform’s original branding, and its suspension appears to mark the final erasure of the Twitter name amid X’s ongoing efforts to combat spam, impersonation, and rule violations.
X’s official statement on the suspended page simply reads: “X suspends accounts that violate our rules,” without offering an appeal process or further explanation, unlike standard user suspensions.
Public reactions on social media ranged from humorous laments of “RIP Twitter” to speculation that the move resulted from automated moderation or a deliberate cleanup of legacy trademarks.
xAI’s Grok AI described it as a purposeful retirement of outdated elements rather than a genuine infraction, while neither Elon Musk nor X spokespeople issued any comment as of Monday morning.
This incident underscores the evolving identity of the platform under Musk’s ownership, which also saw a domain shift to x.com in 2024, further distancing it from its Twitter roots.
Industry observers note that while the suspension aligns with X’s stricter enforcement policies, the lack of transparency has fueled debates on consistency in applying rules to high-profile legacy accounts.
Telecom
FG Plans to Invest $460m World Bank Loan in Fibre Infrastructure

Federal Government plans to channel $460m World bank loan, representing about 92 per cent of a $500m, into the proposed fibre infrastructure company set up to deploy 90,000 kilometres of climate-resilient broadband fibre across the country.

This is contained in the Financing Agreement for the Building Resilient Digital Infrastructure for Growth project between the Federal Government and the International Development Association, the concessional lending arm of the World Bank.
Under the agreement, the World Bank approved a $500m concessional credit to support Nigeria’s drive to expand access to high-quality and climate-resilient broadband internet in unserved and underserved areas.
Of this amount, $460m is earmarked specifically for equity financing and capitalisation of a new Project Company that will drive the fibre rollout. The remaining $40m will cover goods, works, consulting and non-consulting services, training, operating costs, and the refund of a preparation advance used to develop the project framework.
According to the document, the proposed Project Company will be established “as an independent, majority privately-owned and managed special purpose vehicle-joint venture with the objective of the deployment of 90,000 kilometres of climate-resilient fibre infrastructure following a phased approach, limited to provision of wholesale, open access services to licensed telecommunications operators, and management of associated investments, including the carrying out of preparatory activities and provision of transaction advisory services, and provision of equity financing in and capitalization of the Project Company.”
The Federal Government will participate in the company as a shareholder through the Ministry of Finance Incorporated, which manages the government’s investment interests. However, the agreement explicitly caps the government’s shareholding at a maximum of 49 per cent, ensuring that the company remains majority privately owned.
The $460m equity injection is broken into four tranches, tied to strict performance and operational milestones. The first tranche of $150m will be released once the Project Company is incorporated as a joint venture with private partners selected through a process acceptable to the World Bank, and after its memorandum, articles of association, and shareholding agreement are approved.
A second tranche of $100m will only be disbursed after the company adopts fiduciary and administrative procedures approved by the lender and completes at least 5,000 kilometres of fibre deployment. The third tranche of $100m is linked to the completion of an additional 20,000 kilometres of network construction.
The final tranche of $110m will be released after the company launches wholesale open-access services through a published reference offer and completes a further 40,000 kilometres of fibre deployment, bringing the total rollout to at least 65,000 kilometres before the final equity drawdown.
Once each tranche is withdrawn, the agreement requires that the funds be transferred to the Project Company’s dedicated account within five working days, showing the equity nature of the financing rather than traditional budgetary spending.
The project will be implemented under the oversight of the Federal Ministry of Communications, Innovation and Digital Economy, and the Federal Ministry of Finance will receive semi-annual progress updates.
A dedicated Project Implementation Unit will manage day-to-day execution, with overall financial management handled by the Federal Project Financial Management Department in the Office of the Accountant General of the Federation.
Beyond the fibre rollout, the project also includes technical assistance to federal government agencies to support the use of high-quality broadband in targeted areas, as well as funding for project management, monitoring and evaluation, environmental and social safeguards, grievance redress mechanisms and independent audits.
The agreement places strong emphasis on environmental and social standards, requiring compliance with an Environmental and Social Commitment Plan. It also mandates the establishment of an accessible grievance mechanism for affected communities and strict reporting obligations to the World Bank.
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