Tag: 9Mobile
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Teleology finally takes possession of 9mobile
Teleology Holdings Ltd., says it is transferring a non-refundable completion deposit of 50 million dollars to the trustees of the bank syndicate presently holding ownership of 9Mobile. The company made this known in a statement signed by Mr Adrian Wood, Teleology’s Director and pioneer Managing Director of MTN Nigeria. Wood said the payment underscored Teleology’s…
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NCC board re-assures stakeholders of its commitment on sale of 9Mobile
The Board of the Nigerian Communications Commission (NCC) has re-assured stakeholders of its commitment to ensure that 9Mobile is taken over by investors with the requisite technical capability and pedigree to manage it. Mr Tony Ojobo, NCC Director of Public Affairs made this known in a statement on Friday in Abuja. Ojobo said the NCC…
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NCC explains how false speculations reduce 9Mobile’s subscribers
The Nigerian Communications Commission (NCC) has said that false speculations surrounding the sale of 9Mobile has reduced the telecommunications company’s subscriber base from 21 million to 17 million. The Executive Commissioner, Stakeholders Management, NCC, Mr Sunday Dare said this during an interview with newsmen on Thursday in Lagos. TheNewsGuru reports that the telecommunications operator’s customers,…
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Airtel pulls out of 9Mobile bid
Indications emerged that Bharti Airtel, one of the top five firms jostling to purchase troubled 9mobile has reportedly pulled out of the race. According to a report by TheCable, the company, which already operates in the country as Airtel Nigeria, did not submit a final bid to Barclays Africa. 9mobile, formerly Etisalat Nigeria, got into…
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Court sacks 9Mobile’s interim board
The Federal High Court in Lagos has nullified the appointment of an interim board for mobile telecommunications firm, 9Mobile. Justice Ibrahim Buba made the order based on an application by Spectrum Wireless Communication Ltd, which invested $35million in 2009 in Emerging Markets Telecommunications Service (EMTS)/Etisalat, the fourth largest telecommunications service operator in Nigeria. The judge…
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NCC sets new bidding deadline for acquisition of 9mobile
The Nigerian Communications Commission (NCC) has said that the new deadline to conclude bidding for the acquisition of 9Mobile is Jan. 16, as against Dec. 31, 2017, the former date. The Director, Public Affairs of NCC, Mr Tony Ojobo, said that the extension was because there had not been any preferred bidder for the acquisition…
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Court slams N15 million damages against 9mobile over infringement on private property
A Jos High Court on Tuesday found Etisalat Nigeria (9 Mobile) guilty of trespassing into a personal property and ordered it to pay N15 million damages. The judge, R.K. Sha, ordered that the plaintiff be given the property. The judgment was based on a suit filed by Christ Best West Africa Ltd, the plaintiff, against…
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Banks remove $1.2b 9Mobile debt from records
The 12 banks involved in the $1.2 billion 9Mobile loan are setting aside a large part of the debt from their books ahead of the December 31 end-date for the fiscal year. The mobile company took the loan four years ago from a consortium of banks. It failed to repay the loan due to a…
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Foreign partners exit inconsequential to 9mobile, CEO assures stakeholders, subscribers
Telecoms company, 9mobile has reassured its customers and key stakeholders that the exit of its foreign partners would not affect the quality of its network or its ability to deliver excellent products and services. Emerging Markets Telecommunication Services (EMTS), which formerly traded as Etisalat Nigeria, is now 9mobile following the unveiling of a new brand…
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Digital Payments: Why govts do not allow airtime deposits into bank accounts
Transactions made in cash are losing ground to digital payments, and governments around the world are considering the merits of losing paper currency for good, as Bloomberg puts it in a report detailing how close we are to a cashless society. While cash payments are losing grounds to digital transactions, one area that is yet…