15 months after UAE telecommunications company, Etisalat pulled out of Nigeria, Teleology Holdings Limited has formally taken over 9mobile. With this development, new board of directors have been put in place and it will be headed by Nasiru Ado Bayero.
According to a communique issued by Mohammed Edewor, the new non-executive director of 9Mobile, Stephane Beuvelet will be serving as the acting managing director. The appointment of the board followed the exit of the CBN appointed board and the transfer of ownership of the firm to the new investors, Teleology Nigeria Limited.
The Central Bank of Nigeria together with the Nigerian Telecommunication Commission (NCC), in July 2017 appointed a Board of Directors. The Board was chaired by Joseph Nnanna, CBN Deputy Governor, to oversee the affairs of the company until the completion of regulatory due diligence of the bid documents submitted by Teleology and sixteen others for its acquisition. The bid process was facilitated by Barclays Africa.
See Also: NCC Finally Approves Teleology Limited to Acquire 9Mobile
The communique released by Edewor further stated that, the transfer of ownership to Teleology came after the NCC Board issued a final approval of no objection.
“Following 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, Teleology Nigeria Limited is now the new investor.
Other new Non-Executive Directors include: Asega Aliga, Adrian Wood, Winston Ndubueze Udeh while Abdulrahman Ado will be coming on board as Executive Director.
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