NCC, FCCPC approve 9Mobile’s new management board
The Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) have approved the new management board of 9Mobile Network.
In an official statement, 9Mobile’s board of directors announced the completion of an equity investment by LH Telecommunication Limited.
The statement stated: “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 percent of 9Mobile to the new investor in consideration for the injection of fresh capital into the company.”
It further stated that under the injection of capital, the new investor nominated a new board of directors.
Thomas Etuh, an accomplished entrepreneur with nearly four decades of experience in strategic sectors of the African economy, is the new Chairman of the 9mobile Board. Other directors on the Board include Nahim Abe Ibraheem and Femi Edun.
LH Telecommunication Limited also nominated Daisy Ehanire Danjuma, Michael Ikpoki, Ibrahim Puri, Gloria Danjuma, and Emmanuel Etuh as new members of the board of directors of 9Mobile.
The new board also ratified the appointment of the new management team led by Obafemi Banigbe as 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.
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