MTN Nigeria Communications Plc has announced the exit of Eyitope Kola-Oyeneyin from its Board of Directors, effective August 31, 2026, weeks after President Bola Tinubu appointed her Chairperson of the Nigerian Investment Promotion Commission (NIPC).
MTN Nigeria disclosed the development in a regulatory filing to the Nigerian Exchange Limited (NGX) on Friday, August 28, 2026. The notice, signed by the company’s Secretary, Uto Ukpanah, said Kola-Oyeneyin would leave her position as an Independent Non-Executive Director on August 31.
MTN Nigeria did not give a reason for her departure in the filing. The company, however, thanked her for her contribution to the board and wished her well in her future endeavours.
Kola-Oyeneyin joined MTN Nigeria’s board on January 2, 2025, alongside other newly appointed directors.
President Bola Tinubu approved Kola-Oyeneyin’s appointment as Chairperson of the NIPC governing board in July 2026, according to the Federal Ministry of Industry, Trade and Investment (FMITI). She was appointed alongside Muhammad Hadi Mutallab, who became Chairperson of the Nigerian Export Processing Zones Authority (NEPZA).
FMITI said the appointments were part of efforts to strengthen governance and institutional oversight at the agencies, describing them as non-political appointments based on experience and merit.
As NIPC Chairperson, Kola-Oyeneyin will provide oversight to the agency responsible for promoting and facilitating domestic and foreign investment in Nigeria.
Kola-Oyeneyin is a systems change leader and transformation expert with more than 20 years of experience across banking, digital transformation, public policy and financial services.
According to MTN Nigeria, she is the Managing Partner of Augmentum Advisory and previously served as Head of First Bank’s International Banking business. She was also a Partner and inaugural co-lead of McKinsey & Company’s Payments and Fintech Practice for Eastern Europe, the Middle East and Africa.
Her work has included initiatives such as Cashless Lagos and the Shared Agent Network Expansion Facilities (SANEF), which supported the expansion of financial inclusion in Nigeria.
Her exit comes as MTN Nigeria reports strong financial results. The company recorded N1.09 trillion in profit before tax for the six months ended June 30, 2026, up 75.4% from the same period in 2025.
According to the company’s unaudited financial statements, revenue rose 25.9% year-on-year to N2.99 trillion, while profit after tax increased 70.6% to N707.5 billion.
