Teleology Holdings has officially taken over control of Nigeria’s troubled telecommunication company, 9mobile as Nasiru Ado Bayero becomes the Chairman of the new Board of Directors.
Stephane Beuvelet will serve as the acting managing director, according to a statement by Mohammed Edewor, a new non-executive director of the new 9Mobile.
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.
Other members of 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)
In his welciming speech, the new Chairman of the Board, Alhaji Nasiru Ado Bayero said:
“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.”
Mohammed Edewor also thanked the outgoing members of the Board, headed by Dr. Joseph Nnanna for helping to shepherd 9mobile through the critical transition phase it has passed through since July 2017.
The Central Bank of Nigeria in collaboration with the Nigerian Telecommunication Commission(NCC), in July 2017 appointed a Board of Directors chaired by Nnanna, the Deputy Governor of the Central Bank of Nigeria, 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.
The bid process was midwifed by Barclays Africa.
9Mobile new chairman Bayero is a graduate of Mass Communication, from the University of Maiduguri.
He is a prince of the Bayero royal family in Kano. He is the Chiroman of Kano and is the district head of Nassarawa in the state.
He is familiar with boardroom politics, being a director of Platform Petroleum Limited, Sahelian Energy & Integrated Services Limited, Seplat and Intels.
He also worked at Continental Merchant Bank from 1988 to 1989, Coastal Corporation (Oil & Gas Company), Houston, Texas, from 1990 to 1991 and Hamlet Investment, Inc. from 1991 to 1992.
He is the Chairman of Enclo Limited, a Nigerian company providing currency operations support services to the Central Bank of Nigeria