Emir Sanusi earns N442m from MTN as earnings rebound

The 16th Emir of Kano, Muhammadu Sanusi II, earned N442 million ($324,000) in remuneration from MTN Group for the 2025 financial year, reflecting improved performance by the telecom giant and the increasing role of non-executive directors in corporate governance. The figure represents a rise from the N412 million he received in 2024, according to the […]

The 16th Emir of Kano, Muhammadu Sanusi II, earned N442 million ($324,000) in remuneration from MTN Group for the 2025 financial year, reflecting improved performance by the telecom giant and the increasing role of non-executive directors in corporate governance.

The figure represents a rise from the N412 million he received in 2024, according to the company’s latest board remuneration disclosures.

Sanusi, who joined MTN’s board in July 2019 as a non-executive director, earned about R1.82 million (approximately N148 million) in retainer fees.

He also received R1.37 million (around N112 million) for attending board meetings, alongside additional payments for strategy sessions and special assignments.

The former governor of the Central Bank of Nigeria serves on several key committees within MTN, including Risk Management, Finance, and Social Ethics, which oversee operations and regulatory compliance across the company’s markets, particularly in Nigeria and Ghana.

Analysts say the remuneration highlights the growing importance of strong corporate governance in large multinational firms, especially within Africa’s telecommunications sector.

They also note that Sanusi’s extensive background in banking regulation and economic policy adds strategic value to the board.

During his tenure as CBN governor between 2009 and 2014, Sanusi led major banking reforms in the aftermath of the global financial crisis, strengthening Nigeria’s financial system.

Beyond MTN, he chairs Black Rhino Management Services Limited and holds multiple directorships across Africa, maintaining a strong presence in corporate circles.

Before becoming emir, Sanusi had a distinguished banking career, including serving as chief executive officer of First Bank of Nigeria.

He remains an influential traditional and religious leader in Northern Nigeria and is also a prominent figure within the Tijaniyya Sufi Order.

The latest remuneration underscores both MTN’s financial recovery and the critical oversight role played by experienced board members in driving corporate performance.

Despite his holding a revered position as the traditional leader of one of the oldest Emirates in Northern Nigeria, Emir Sanusi has often made his presence felt in the economic and business community, offering insights and commentaries on major economic issues.

Being a board member of the MTN, the position offers him opportunity to offer credible insights into the company’s corporate decisions as the telecom giant witnessed a rebound in its earning positions after consecutive years of losses due to foreign exchange depreciation.

The firm generated a 55.1% increase in service revenue to reach N5.2 trillion as shown in 2025 audited results.

The firm attributed the profitability to the engine driving its unprecedented socio-economic contributions across the country.

The firm’s CEO, Karl Toriola, noted that 2025 marked a significant turning point with a return to profitability and the restoration of positive retained earnings. 

“With the company’s status secured as the most valuable company on the Nigerian Exchange (NGX), offering high shareholder returns, MTN continues to urge young Nigerians to buy its shares.