Following the approvals of the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) as required by law, Emerging Markets Telecommunication Services Limited, operating under the trade name 9Mobile, is pleased to announce the completion of an equity investment by LH Telecommunication Limited>>>CONTINUE FULL READING HERE....CONTINUE READING THE ARTICLE FROM THE SOURCE
The investment, which was approved by African Export-Import Bank (AFREXIM), the senior lender to 9Mobile in May 2023 has resulted in a change in control of 9Mobile in favour of the new investor by the issuance of new shares amounting to 95.5% of 9Mobile to the new investor in consideration for the injection of fresh capital into the company.
Under the injection of capital, the new investor nominated the following persons to the board of directors of 9Mobile:
According to reports, Thomas Etuh is the Chairman of the Board.
Nahim Abe Ibraheem has over 30 years of experience across finance, upstream and downstream oil trade, procurement, and manufacturing.>>>CONTINUE FULL READING HERE
Femi Edun, is a financial services industry professional with over 35 years of experience.
Senator Daisy Ehanire Danjuma was elected as a Senator of the Federal Republic of Nigeria in 2003 where she served on numerous committees, most notably as Chairman of the ECOWAS Parliament’s Women and Children’s Rights Committee and Chairman Senate Committee on Women Affairs and Youth Development.
Michael Ikpoki, Michael Ikpoki is an accomplished Multinational Business Executive/Leader with over 25 years of experience.
Gloria Danjuma is a dynamic and result-oriented professional with a proven track record of leadership and strategic vision across multiple industries.
Emmanuel Etuh is a professional and business executive whose experience covers law, finance, and operations across diverse industries.
Obafemi Banigbe is the Managing Director and Chief Executive Officer of the Company to lead the Company through this transition stage and take it on the path of recovery.
The Board has approved the appointment of John Vasikiran as the company’s Chief Operating Officer and Abolaji Idowu as Chief Financial Officer.
The development comes as telecommunication companies in Nigeria barred phone lines days before the proposed date to bar lines not linked to the National Identification number.
Reports say Nigerians surged at offices of telecommunication companies across Nigeria after the firms barred their lines over the weekend.
The move complies with the directives of the NCC which gave July 29 as the deadline for SIM-NIN linkage.>>>CONTINUE FULL READING HERE
