Nigeria: MTN Nigeria Appoints New Executive Director, Chief Financial Officer

An MTN-branded bus stop in Lagos.
24 November 2019

MTN Nigeria Communication PLC on Friday announced the appointment of Modupe Kadri as its new Executive Director and Chief Financial Officer (CFO).

The new appointment is to take effect from March 1, 2020.

Mr Kadri replaces Adekunle Awobodu as CFO. Mr Awobodu's intended departure was announced in July 2019.

The communication company disclosed this through a disclosure notice sent to the Nigerian Stock Exchange on Friday. It also expressed its appreciation to Mr Awobodu for his commitment and service to the company.

"His dedication, extensive knowledge, financial expertise and experience across MTN Croup earned him great respect," it said.

Modupe Kadri's achievement

The new ED and CFO is said to be an alumnus of the University of Lagos with both Master's and Bachelor's degrees in Management and Economics respectively. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and the Association of Chartered Certified Accountants (ACCA).

He re-joins MTN Nigeria from MTN Ghana where he served as CFO for five years.

He has a track record of financial expertise and operational leadership and brings extensive experience to the role, having worked in the financial services and telecommunications industry for three decades.

Mr Modupe's appointment, according to the disclosure, demonstrates the company's commitment to building local talent and underscores the strength of its leadership development strategy.

He began his professional career with PricewaterhouseCoopers, where he worked for 10 years. In 2002, he joined Allied Pickfords in London as the Group Reporting Manager following which he moved to Lafarge Nigeria where he took up the role of Internal Audit Manager in 2003. In 2005, he was Finance Controller.

Mr Modupe joined MTN Nigeria in 2007, as the General Manager, Finance Operations. In 2013, he was appointed the General Manager, Financial Planning.

He went on to serve as acting CFO of MTN Nigeria for 3 months in 2014, after which he assumed the role of CFO, MTN Ghana.

Mr Modupe has received the Ghana Telecoms CFO of the Year Award four times in 2015, 2016, 2018 and 2019.

Interim CFO

The firm also disclosed in the announcement that Omolara Michael-Nwadu will serve as the acting CFO till Mr Kadri's resumption on March 1, 2020

Ms Michael-Nwadu, who is said to have over 19 years' work experience in banking and telecoms, is currently the General Manager, Financial Planning. She joined MTN Nigeria in 2002.

She holds a Bachelor's degree in Accounting from the University OF Lagos and is a Chartered Global Management Accountant (CGMA) of the Association of International Chartered Professional Accountants (AICPA).

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