The recently rescued 9Mobile Nigeria Ltd has appointed HRH Alhaji Aminu Ado Bayero (The Wannabe Kano) as its new chairman, as Teleology on Monday finally completed the takeover of the telecom company.
This was confirmed to CHECKPOINTCHARLEY by a top source at the telecom giant firm.
9Mobile is Nigeria’s fourth telecom operator.
The company also later in a statement released in Lagos announced the constitution of a new board of directors.
It explained 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.
The statement read in part, “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.
“Members of the new board of directors are: Aminu 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 (Acting Managing Director).”
The new Chairman is a shareholder in Teleology and 9Mobile said he had warmly received the appointment.
“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,” the statement added.
The constitution of this board brings to an end 9Mobile acquisition process.
Recall that Teleology Limited had won the bid, superintended by Barclays Africa, to take over 9Mobile Nigeria Ltd and the company had on 20 March, 2018 sealed the deal of taking over the distressed company when it signed an MOU with the Central Bank of Nigeria, CBN, and 9Mobile to take full possession of the former Etisalat.
This followed the announcement days earlier by the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Garba Umar Danbatta that Teleology Holdings Limited had paid initial deposit of $50 million for the acquisition of 9Mobile Nigeria Limited.
The CBN in collaboration with the NCC, had in July 2017, appointed a board of directors, chaired by Dr. Joseph Nnanna, a Deputy Governor of the CBN, 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.