ntel, the successor company of Nigeria’s pioneer national operator, Nigerian Telecommunications Limited (NITEL), has landed “significant investment” from General TY Danjuma, who has taken over as Chairman of the telecoms company.
Kamar Abass, ntel’s CEO, confirmed this today in a company statement to Technology Times that the new Chairman who succeeds Dr. Tunde Ayeni, the prime mover behind the purchase of NITEL using the investment vehicle of NatCom Development & Investment Limited “NatCom” (now trading as ntel).
[quote font=”georgia” font_size=”22″ font_style=”italic” align=”left” arrow=”yes”]NatCom CEO, Abass says the telecoms company will be investing in telecoms upgrade and expansion projects totalling over $1billion by 2020.[/quote]The ntel CEO did not disclose the volume of stakes bought in the telecoms company, ntel, by Danjuma, who was Nigeria’s Minister of Defence under ex-President Olusegun Obasanjo, but says that, “as our new chairman, and as a shareholder, we welcome his support as we add momentum to our growth and development in Nigeria’s telecoms industry.”
Danjuma chaired the inaugural board meeting of ntel today amid the telecoms company’s plans to begin network services in Port Harcourt, Rivers State by early Q4 2016.
NatCom CEO, Abass says the telecoms company will be investing in telecoms upgrade and expansion projects totalling over $1billion by 2020.
According to ntel CEO, with the entry of Danjuma as netel Board Chairman, former chairman, Dr. Tunde Ayeni, now becomes Vice Chairman. Other members of the board include Captain Idahosa Okunbo, Abiola Ayeni, Kasheem Shettima, Philip Chukwu, Kola Adesina, John Darlington, Dan Kunle, Babatunde Omotoba and Kamar Abass.
General Danjuma, fondly known as ‘the green general’ on account of his environmental activism, has interests in oil and gas, banking and shipping. A respected environmentalist and philanthropist, he was Chairman of Abuja Green Society and through his own Danjuma Foundation, established in 2009,passionately supports poverty alleviation, education and medical aid initiatives across Nigeria, according to the company statement.
“General Danjuma brings to the ntel board robust commercial experience covering some three decades in the public and private sectors, following a successful career in the army from where he retired as a three-star General and Chief of Army Staff in 1980. He also served as Minister of Defence in the first term of the civilian administration of President Olusegun Obasanjo”, Abass says.