Teleology Company Limited on Tuesday announced its takeover of 9Mobile Telecommunications company, formerly Etisalat Nigeria, and the re-constitution of a new board of directors to direct the affairs of the telco in the years ahead.
The announcement came several months after scores of bidders had indicated their interest to buy-over the telco.
A statement signed by a director of the new company, Mohammed Edewor, reads: “Teleology is pleased to announce the constitution of a new Board of Directors for Nigeria’s multi-award-winning telecommunication company, 9mobile”.
Edewor stated that the constitution of the new board followed 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.
He enthused: “We thank 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.
“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 Nigerian Communications Commission (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”, Edewor added.
The newly inaugurated directors are, 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); Stephane Beuvelet (Acting Managing Director).
The new chairman was quoted as expressing appreciation to the telco’s employees and subscribers, who, he said, should be prepared for best-in-class services forthwith.
He assured further: “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”, Ado Bayero added.
It would be recalled that the sale process of 9mobile was initially billed to be concluded on January 16, 2018, following an approval of the extension of the deadline by the Nigerian Communications Commission (NCC) after an initial December 2017 deadline.
Teleology Nigeria Limited eventually won the final bid in a process involving Airtel, Globacom, Smile and Helios as bidders.
The company, 9mobile, formerly known as Etisalat Nigeria, was taken over in July 2017 following a N541 billion debt liability.
