9Mobile Appoints New Management Board

Emerging Markets Telecommunications Limited, known as 9Mobile, announced on Sunday the completion of an equity investment by LH Telecommunication Limited. In a statement signed by its board of directors, the company revealed that the acquisition received approvals from the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC).

“The investment, which received approval from the African Export-Import Bank (AFREXIM) in May 2023, has resulted in a change in control of 9Mobile. The new investor, through the issuance of new shares amounting to 95.5% of 9Mobile, injected fresh capital into the company,” the board stated.

Under this capital injection, the new investor appointed a new board of directors.

Thomas Etuh, an accomplished entrepreneur with over 36 years of experience in strategic sectors of the African economy, has been named the new Chairman of the 9Mobile Board. Other board members include Nahim Abe Ibraheem and Femi Edun.

Additionally, LH Telecommunication Limited nominated Daisy Ehanire Danjuma, Michael Ikpoki, Ibrahim Puri, Gloria Danjuma, and Emmanuel Etuh as new board members.

The new board has also ratified the appointment of Obafemi Banigbe as the Managing Director and Chief Executive Officer to lead the company through this transition phase and towards recovery.

Similarly, the board approved the appointments of John Vasikiran as Chief Operating Officer and Abolaji Idowu as Chief Financial Officer.

“The reconstitution of the board and executive leadership marks a significant phase in the 9Mobile transformation program, positioning the company to compete strongly in the market,” the statement concluded.