Teleology has been given the approval to take over 9mobile eight months after it made the initial $50 million non refundable deposit for its acquisition. This follows the issuance of the final approval of no objection by the Board of the Nigerian Communications Commission.
In a statement signed by the company, the company had satisfied all the regulatory requirements after 17-long months submitting both technical and financial bids for 9mobile.
The company has also constituted a new board of directors to take over the Boye Olusanya-led interim board. The new board is composed of the following people:
- Nasiru Ado Bayero, Chairman;
- Asega Aliga, Non Executive Director;
- Adrian Wood, Non Executive Director;
- Mohammed Edewor, Non Executive Director;
- Winston Ndubueze Udeh, Non Executive Director;
- Abdulrahman Ado Executive Director and
- Stephane Beuvelet who is the acting Managing Director.
According to one of the new board members, Mr Mohammed Edewor, “Teleology is pleased with all out-going members of the Board for helping to shepherd 9mobile through the critical transition phase it has passed through since July 2017.”
The new Chairman of the Board, Alhaji Nasiru Ado Bayero welcomes the appointment stating, “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.”
9mobile, once known as Etisalat Nigeria, fell into crisis when it failed to service its 541 billion debt which prompted a consortium of banks to take over the company.
It is hoped that with this new lease of life, the company will emerge from the shadows of the great company it once was.
