After several months of waiting, Teleology Nigeria Limited, on Monday finally took over 9mobile and constituted a new Board of Directors for Nigerian telecommunication company.
A statement by the company said the decision followed a 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.
“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,” the statement, signed by Mohammed Edewor, said.
“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.”
The statement listed the new Board of Directors to include Nasiru Ado Bayero (Chairman); Asega Aliga (Non Executive Director); Adrian Wood (Non Executive Director); and Mohammed Edewor (Non Executive Director). Others are Winston Ndubueze Udeh (Non Executive Director); Abdulrahman Ado (Executive Director) and Stephane Beuvelet (Acting Managing Director).
The CBN in collaboration with the Nigeria Communications Commission had in July 2017 appointed a Board of Directors chaired by Joseph Nnanna, the Deputy Governor of the Central Bank of Nigeria, to oversee the affairs of the company.
The appointment was made pending the completion of regulatory due diligence of the bid documents submitted by Teleology and sixteen others for its acquisition.
Teleology in its statement claimed that with the emergence of the board, the “long process for the acquisition of 9mobile has reached a definitive end marking the beginning of a new era for the telecommunication company.”