As the CEO of MTN Nigeria, Karl Toriola is one of the most influential business leaders in the country. He is also among Nigeria’s highest-paid CEOs, alongside executives like Ebenezer Onyeagwu and Seun Agbaje, according to NairaMetrics.
Early Life and Education
Born on March 16, 1972, in Ife, Osun State, Nigeria, Karl Olutokun Toriola grew up in Modakeke. After completing his secondary education, he earned a Bachelor’s degree in Electronic and Electrical Engineering from Obafemi Awolowo University in 1994.
His pursuit of higher education took him to the United Kingdom, where he obtained a Master’s degree in Communication Systems from the University of Wales, Swansea, in 1996. He later attended executive programs at top global institutions, including Harvard Business School, IMD Switzerland, London Business School, Wharton, and INSEAD.
Career Journey
Toriola began his career in telecommunications in 1995 at Ericsson Switzerland, where he worked for five years before moving to Ericsson Nigeria in 2000 as a Support and Integration Manager. During Nigeria’s early telecom boom, his expertise played a crucial role in the country’s mobile network expansion.
In 2004, he joined Vmobile Nigeria (now Airtel Nigeria) as Chief Operations/Regional Officer, overseeing network improvements and market growth. He left in 2006 to take on an international role with MTN Irancell in Tehran as an Operations Consultant, leading network rollout initiatives.
Later that year, he returned to Nigeria as MTN’s Chief Technical Officer (CTO), overseeing technology strategy, capital projects, and network expansion. Under his leadership, MTN won the Best CTO and Best Network awards in 2009.
His success led to leadership roles across Africa. In 2011, he briefly served as interim CEO of MTN Congo Brazzaville before being appointed CEO of MTN Cameroon. His tenure saw MTN Cameroon’s market share grow from 51% to 62%, making it the leading telecom provider in the country. He also secured 3G and 4G licenses, a fiber license, and partial ownership of the WACS submarine cable system. Under his leadership, MTN Cameroon became the first MTN subsidiary to achieve Investors in People (IIP) Gold certification.
In 2015, Toriola became Group Operating Executive at MTN Group, overseeing operations in 12 countries. A year later, he was promoted to Vice President for West and Central Africa, further solidifying his influence. In October 2020, he was named CEO of MTN Nigeria, officially assuming the role on March 1, 2021, succeeding Ferdinand Moolman.
Board Memberships and Leadership Influence
Beyond his executive roles, Toriola has served on various corporate boards in both executive and non-executive capacities. He has been Chairman of MTN/Areeba Guinea and a Non-Executive Director for Jumia Africa, American Towers Uganda, and MTN subsidiaries in Francophone West Africa.
A Legacy of Leadership
Karl Toriola’s career is marked by excellence, innovation, and resilience. His ability to drive business growth, negotiate critical deals, and optimize operations has positioned him as a key figure in Nigeria’s telecommunications and business landscape.
