Teleology Takes Over Management of 9Mobile


Troubled Nigeria’s telecommunication company, 9mobile, has now been taken over by Teleology Nigeria Limited, according to Mohammed Edewor, the non-executive director of the new 9mobile.

The transfer of ownership was done after the CBN appointed board exits the company following completion of regulatory due diligence.

Nasiru Ado Bayero, 54, was appointed to head the new board, while Stephane Beuvelet will serve as the acting managing director.

Other members announced by the board are: Asega Aliga (Non Executive Director), Adrian Wood (Non Executive Director), Mohammed Edewor (Non Executive Director), Winston Ndubueze Udeh (Non Executive Director) and Abdulrahman Ado (Executive Director).

Alhaji Nasiru Ado Bayero, the new chairman of the Board, welcomes the new board members.

“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.”

Edewor thanked the outgoing board members headed by Dr. Joseph Nnanna for their contribution to 9mobile during a critical period.

The Central bank of Nigeria had appointed a Board of Directors led by Nnanna, the Deputy Governor of the Central Bank of Nigeria, to take over management of the company pending the completion of regulatory process of the bid documents submitted by Teleology Nigeria Limited and sixteen other companies.

After months of long process, Teleology Nigeria Limited now claimed that with the emergence of the new 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.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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