NatCom Development and Investment Limited (trading as ntel), the company that acquired Nigeria’s national telecommunication company NITEL, has appointed a new board of directors as it prepares for a commercial relaunch in January 2026. The company is considering a fixed wireless home play as the market entry that might end up preceding an earlier roaming/MVNO play, according to one person with knowledge of the matter.
The new board includes Adeleke Alex-Adedipe, Ayodeji Joshua Richards, Maryam Mutallab, Olaide Aremu, and Soji Maurice-Diya, who will serve as Managing Director/CEO. The directors will operate under the continued chairmanship of Gen. T.Y. Danjuma and the legacy director and minority shareholder, Tunde Ayeni.
The board overhaul reflects ntel’s focus on reenergising its finances, optimising assets, and reestablishing itself as a key player in Nigeria’s telecommunications sector. Under its new leadership, ntel is implementing a turnaround strategy focused on cash-flow stability, asset monetisation, and a return to commercial service.
The company said it is currently “monetising its nationwide portfolio of telecommunications and real estate assets” as part of efforts to diversify revenue streams and strengthen liquidity ahead of its relaunch.
In a joint statement, the board described the transition as coming at a “defining moment” in ntel’s recovery journey.
“It is a rare privilege to steward ntel at such a defining moment. We are energised 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,” the board said. “Our goal is clear: to position ntel as a robust, investor-friendly enterprise that delivers on Nigeria’s digital aspirations.”
The new board members bring a blend of legal, financial, and operational expertise critical to ntel’s revival. Alex-Adedipe, Managing Partner at Duale, Ovia & Alex-Adedipe, brings nearly two decades of experience in telecom and M&A law. Richards, a former GTBank Gambia Managing Director, strengthens the company’s financial governance capacity. Mutallab, founder of Noble Hall Leadership Academy for Girls, adds entrepreneurial and community engagement insight. Aremu, Group CFO of Ancestral Holdings, brings deep expertise in corporate finance and internal controls.
Maurice-Diya said the board’s composition “aligns the skills we need with the tasks ahead,” emphasising that strong governance will be key to restoring investor confidence and achieving ntel’s goal of becoming a sustainable, growth-oriented telecom brand in Nigeria’s digital economy.
