Karl Toriola, the Chief Executive Officer of MTN Nigeria, is among the highest-earning corporate executives in the country. Public disclosures show that Toriola, who hails from Modakeke in Osun State, earns over ₦134 million every month, amounting to about ₦1.6 billion annually in salary.

Toriola’s successful corporate career has transformed his fortunes, positioning him as one of Nigeria’s billionaire executives. Beyond his remuneration as CEO, he also holds an equity stake of 0.0201% in MTN Nigeria—equivalent to 4,086,858 ordinary shares—with a current market value of approximately $1.34 million.

His daughter, Damilola Toriola, also benefits from her father’s position as a shareholder in MTN Nigeria. Her stake in the company is currently valued at about ₦15.8 million.

Toriola’s rise underscores the wealth-building potential of corporate careers in Nigeria, countering the popular notion often pushed by motivational speakers that working a traditional 9-to-5 job cannot lead to financial success. Industry observers note that stories like his demonstrate how corporate leadership roles can be a powerful path to wealth creation.

(Culled from the writings of Chukwudi Iwuchukwu.)