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Teleology Finally Takes Over 9mobile, Appoints Directors

By Dipo Olowookere

The Nigerian Communications Commission (NCC) has finally sold 9mobile, formerly Etisalat Nigeria, to Teleology Holdings Limited.

As a result, Teleology has announced the constitution of a new Board of Directors for the nation’s multi-award-winning telecommunication company, 9mobile.

This followed the successful completion of the tenure of the former board appointed by the Central Bank of Nigeria (CBN) and in fulfilment of the consequential transfer of final ownership to the new investors, Teleology Nigeria Limited.

In a statement made available to Business Post on Monday, Teleology thanked “all out-going members of the board for helping to shepherd 9mobile through the critical transition phase it has passed through since July 2017 and wish them the very best in their future assignments.”

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The firm said, “For us, the composition of the new Board of Directors is another significant milestone, and this follows the issuance of final approval of no objection by the board of the NCC to the effect that the technical and financial bids Teleology submitted for 9mobile met and satisfied all the regulatory requirements.”

“This is indeed the dawn of a new era in the evolution of the 9mobile brand in the Nigerian market,” the statement added.

According to Teleology, the new Board of Directors comprises Nasiru Ado Bayero as Chairman, Stephane Beuvelet as the Acting Managing Director, Asega Aliga as Non-Executive Director, Adrian Wood as Non-Executive Director, Mohammed Edewor as Non-Executive Director, Winston Ndubueze Udeh as Non-Executive Director and Abdulrahman Ado as Executive Director.

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Commenting, the new Chairman of 9mobile, “As we begin this new epochal phase, we wish to thank all the employees who built this viable business.

“Our debt of gratitude also goes to our subscribers even as we assure them to get ready for real best-in-class additional value for their relationship with the 9mobile brand.

“Without you, there could not have been a 9mobile business for us to invest in today. We will justify your confidence in our brand by making significant investments that will improve the value you get for using 9mobile.”

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It would be recalled that the CBN in collaboration with the NCC, had in July 2017 appointed a Board of Directors chaired by Dr. Joseph Nnanna, the Deputy Governor of the Central Bank of Nigeria, to oversee the affairs of the company pending the completion of regulatory due diligence of the bid documents submitted by Teleology and sixteen others for its acquisition.

The bid process was superintended by Barclays Africa. But with the emergence of the Board, the long process for the acquisition of 9mobile has reached a definitive end marking the beginning of a new era for the telecommunication company.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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