Home Brands 9mobile gets new owner, with new board
Brands - November 13, 2018

9mobile gets new owner, with new board

Telecommunications services provider, 9mobile, has formerly been taken over by Teleology Holdings, with the later appointing a new board to run the firm.

The take over which is with the full approval of industry regulator, Nigerian Communications Commission (NCC), is coming ten months after being announced by Barclays Africa, as the preferred bidder and Smile Telecoms Holdings as the reserve bidder.

Thisday reports that the take-over would have come earlier, after transmission of letters of notification were given to both the preferred bidder and the reserve bidder since February 21, 2018, but, was stalled because of the delay of letter of ‘No Objection’ from NCC.

The Executive Vice Chairman of NCC, Prof. Umar Danbatta, had said NCC needed to conduct due diligence on Teleology Holdings to ascertain its technical competence in managing 9mobile.

He, however, said the due diligence had been conducted and the report submitted to the NCC board, but that the board was yet to decide on a position statement, based on the findings of the report.

With all that out of the way, Teleology appointed a new Board of Directors to stir the ship of 9mobile.

In a statement on Monday, Teleology said it was pleased to announce the constitution of a new Board of Directors for 9mobile, following the successful completion of the tenure of the former board appointed by the Central Bank of Nigeria (CBN) and in fulfillment of the consequential transfer of final ownership to the new investors, Teleology Nigeria Limited.

The seven-man Board of Directors include Chairman, Mr. Nasiru Ado Bayero; non-Executive Directors, Mr. Asega Aliga, Mr. Adrian Wood, Mr. Mohammed Edewor, and Mr. Winston Udeh; and Executive Director, Mr. Abdurrahman Ado. Ms. Stephane Beuvelet was appointed acting Managing Director.

The telecoms firm in the statement signed by one of the newly appointed members of the board, Edewor, thanked members of the out-going 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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