 Mutallab has also served on the boards of directors of several companies, including Arewa Textile Limited, NEPA, NACB, NCC, Nigeria Agip Oil, and Cement Company of Nigeria,

From 1999 to 2009, he was the chairman of First Bank of Nigeria Plc, Nigeria's oldest and largest bank.In 2009 was he chairman of several companies, including Impresit Bakolori Plc, Incar Nigeria Plc, and Spring Waters Nigeria Limited (SWAN).He is the major shareholder in Barade Holdings and Barumark Investment and Development Company.