Ntel appoints new managing director

NatCom Development; Investment Ltd., operators of the Ntel 4G/VoLTE Network says it has appointed Babatunde Omotoba as its Managing Director/Chief Executive Officer.

The Acting General Manager, Corporate Affairs, Ntel, Damian Udeh, said on Monday in Lagos that the appointment was with effect from May 7.

Mr Udeh said until the appointment as the CEO, Mr Omotoba had served for three years as a high performing non-Executive Director at ntel, on various committees of the board.

He said Mr Omotoba would take over from Ernest Akinlola who recently resigned as the Managing Director/CEO.

According to him, Mr Omotoba is a seasoned administrator with over 30 years of General Management, Telecoms, Transportation, Power, Aviation, Financing, Private Equity, Investment, Due Diligence, Auditing, Consulting, Construction and Structural Engineering experience.

”As the Group Chief Operating Officer of Ancestral Holdings for four years, he managed various group companies in various sectors including: Telecoms, Financial Services, Construction and Transportation, Power, Real Estate; among others.

”He has also executed various safety critical infrastructural projects in the aviation sector of the Nigerian economy, including the Total Radar Coverage of Nigeria Airspace.

”As an investor, he structured and invested more than $200 million in over 12 projects with total transaction size in excess of $1.2 billion in the United States of America and in Nigeria.

”As an accountant, he managed due diligence reviews, and performed audits, fraud investigations, financial consulting, and diagnostic reviews.

”He also carried out value-for-money review for the over $1 billion Nigerian Government Petroleum Trust Fund (PTF) consulting contracts,” he said in a statement.

Mr Udeh said Mr Omotoba assisted in developing the planning and budgeting, financial reporting and assets and liabilities management programmes for one of the largest banks in Nigeria.

He said as an engineer, Mr Omotoba worked as Resident Construction and Structural Engineer on several Nigerian government infrastructural projects in eight states of Nigeria and in Kubwa, Maitama and Asokoro Districts of the Federal Capital Territory (FCT).

Mr Udeh said Mr Omotoba had held diverse positions across various sectors: Manager in Arthur Andersen (now KPMG Professional Services) and Nigeria Office; Vice President, Private Equity at Smith Whiley & Co. in the United States of America.

He said the new CEO was also the Head, Private Equity and Secretary to the Investment Committee of Africa Finance Corporation (AFC) in Nigeria, before his appointment as Honourable Minister and member, Federal Executive Council, Federal Republic of Nigeria in December 2008.

According to Mr Udeh, Mr Omotoba was a Member of the Governing Council of National Emergency Management Agency (NEMA) and National Council on Privatisation (NCP).

”He served as a Senior Adviser to Africa Finance Corporation.

”A well sought after speaker both at home and abroad, Babatunde Omotoba has a Bachelor of Engineering Degree (B.Eng) in Civil Engineering with “First Class Honours” from the University of Benin (Nigeria).

”He also has an MBA from the J.L. Kellogg Graduate School of Management, Northwestern University (USA), where he majored in Finance, Entrepreneurship, Management Strategy and Real Estate.

”He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA); Member of the Nigerian Society of Engineers (MNSE) and an Associate member of Chartered Institute of Taxation of Nigeria (ACIT),” he said.

Mr Udeh said Mr Omotoba started his career in 1987 as Trainee Structural Engineer with Civ-Structs Associates, Kaduna (Nigeria), where he designed and supervised various projects including Central Bank Staff Housing in Birnin Kebbi Road, Sokoto.

Mr Omotoba is currently the Chief Operating Officer (COO) of Ancestral Holdings, a conglomerate with over $2 billion in investments.

(NAN)