Nigerian billionaire T.Y. Danjuma restructures ntel board as telecom firm prepares for relaunch”

NatCom Development and Investment Ltd., the company that acquired Nigeria’s defunct national telecom carrier NITEL and now trades as ntel, has appointed a new board of directors as it prepares for a commercial relaunch in January 2026.

The decision marks a significant step in the turnaround plan being led by Gen. T.Y. Danjuma, the company’s controlling shareholder and chairman. Natcom is considering launching a fixed wireless home service as its initial market entry, which could precede a roaming or mobile virtual network operator strategy, according to a person familiar with the plans.

Board shake-up

The new board members are Adeleke Alex-Adedipe, Ayodeji Joshua Richards, Maryam Mutallab, Olaide Aremu and Soji Maurice-Diya, who will serve as managing director and CEO. They join Danjuma and legacy director and minority shareholder Tunde Ayeni.

The overhaul is aimed at improving governance, reenergizing finances and positioning ntel to compete in Nigeria’s telecom sector.

In a statement, the company said it is “monetizing its nationwide portfolio of telecommunications and real estate assets” to diversify revenue streams and strengthen liquidity ahead of its relaunch.

Turnaround strategy

The new leadership is implementing a plan focused on cash-flow stability, asset monetization and a return to commercial service.

“This transition comes at a defining moment in ntel’s recovery journey,” the board said in a joint statement. “It is a rare privilege to steward ntel at such a defining moment. We are energized by the opportunities ahead and look forward to working closely with 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.”

Broad expertise

The board members bring legal, financial and operational expertise to support the company’s revival.

Alex-Adedipe, managing partner at Duale, Ovia & Alex-Adedipe, has nearly two decades of telecom and M&A experience. Richards is a former managing director of GTBank Gambia; Mutallab is the founder of Noble Hall Leadership Academy for Girls, while Aremu is group CFO of Ancestral Holdings.