ntel Networks, a prominent 4G/LTE-Advanced network provider, has announced a significant leadership transition with the departure of its pioneer Managing Director and Chief Executive Officer, Kamar Abass. According to a statement released by Osondu C. Nwokoro, the company’s Director of External Affairs, Mr. Abass has stepped down from his role due to urgent personal and medical considerations. In the interim, the NatCom board has appointed Abhulime Ehiagwina as the Acting CEO, while the company plans to initiate a search for a substantive CEO in due course.

Kamar Abass played a crucial role in the foundational stages of ntel. He joined the Board of Directors of NatCom in 2015 as the CEO of ntel and was instrumental in leading the company through its official launch on April 8, 2016. Under his leadership, ntel successfully commenced its operations in major Nigerian cities including Lagos and Abuja, further expanding its reach to Port Harcourt by December 2016. Mr. Abass holds a Bachelor’s degree in Civil Engineering from the University of Lagos, Nigeria, and an MSc in transportation planning and management from the University of Westminster, London.

Abhulime Ehiagwina, who now steps into the role of Acting CEO, brings considerable financial expertise to the position. Prior to this appointment, he served as the Chief Financial Officer (CFO) and a Board member of Helios Towers Nigeria. His academic background includes a BSc in Accounting from Obafemi Awolowo University, an MBA from the University of Lagos, and an Advanced Management & Leadership Programme (AMP) certificate from the Said Business School, Oxford University, UK.

The announcement of this leadership change coincides with a notable development concerning the company's Chairman, Mr. Tunde Ayeni. Reports indicate that the management of Skye Bank Plc has filed a petition against Mr. Ayeni, requesting that the Federal Government assist in seizing his assets, which notably include ntel Networks. This petition suggests a potential threat to the company’s existence amidst the ongoing financial scrutiny.

Further details from the Nigerian Communications Week reveal that Skye Bank’s letter, signed by its new chairman Muhammad Ahmad and Group Managing Director Adetokunbo Abiru, outlines allegations against Mr. Ayeni. The bank claims that Ayeni, who served as Chairman of Skye Bank between 2010 and 2016, allegedly utilized loans obtained from the bank to acquire major government companies. Ayeni’s resignation from Skye Bank occurred after the Central Bank of Nigeria (CBN) took over the management of the bank on July 4, 2016.