• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Stakeholders worried 9mobile crisis will affect the telecoms industry

Damilare Famuyiwa by Damilare Famuyiwa
January 17, 2019
in Business News, Company News
9mobile Africa Finance Corporation, 9mobile launches AI-enabled chatbot, Enin

9mobile

Share on FacebookShare on TwitterShare on Linkedin

Telecommunications stakeholders have raised concern over the recent withdrawal of Teleology Holdings from the acquisition deal of 9mobile.

While expressing worries that the pullout could worsen the operational conditions of 9mobile, the stakeholders called for speedy intervention that would address the issue before it escalates.

Gbenga Adebayo, Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON), who reacted to the withdrawal of Teleology Holdings, said the pull-out from the deal, could create a serious setback for 9mobile that has made some progress since the commencement of the acquisition plan. He called on shareholders from Teleology Holdings and Teleology Nigeria to address their differences in the best interest of the Nigerian telecoms industry.

RelatedStories

Ghana signs $1 billion deal with UAE to build Tech Hub in Ningo-Prampram 

Ghana signs $1 billion deal with UAE to build Tech Hub in Ningo-Prampram 

May 31, 2025
9mobile court case. Investors sue 9mobile, Owners of 9mobile, Teleology, 9mobile, KPI, NCC, CBN

Advertising Regulatory Council to investigate 9mobile over alleged N1 billion debt 

May 31, 2025

Similarly, the President of the Association of Telecommunication Companies of Nigeria (ATCON), Olusola Teniola, who also expressed worries over the exit of Teleology Holdings, said the implication is that 9mobile will begin all over again to look for a technical partner and financier that are willing to invest in 9mobile, since NCC had insisted on a competent technical partner and a financially stable operator to take over 9mobile.

9mobile’s ownership tussle

This all started when 9mobile (formerly known as Etisalat Nigeria) defaulted on a $1.2 billion loan it had obtained from a consortium of Nigerian banks. The default led to its parent company, Etisalat of the UAE pulling out and the banks threatening to take over the firm.

They were, however, prevented by the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC). An interim board was subsequently appointed, and Barclays Africa midwifed a bidding process. Some parties to the process had alleged there were irregularities, a fact that was later denied.

9mobile’s subscriber base has dropped from 22 million in 2016, to 16 million in 2018, since the beginning of the financial crisis that rocked the telecoms company in 2017.


Follow us for Breaking News and Market Intelligence.
Tags: 9MobileALTONEtisalatNCCTeleology Holdings LimitedUAE
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

Related Posts

Ghana signs $1 billion deal with UAE to build Tech Hub in Ningo-Prampram 
Corporate deals

Ghana signs $1 billion deal with UAE to build Tech Hub in Ningo-Prampram 

May 31, 2025
9mobile court case. Investors sue 9mobile, Owners of 9mobile, Teleology, 9mobile, KPI, NCC, CBN
Legal & Regulations

Advertising Regulatory Council to investigate 9mobile over alleged N1 billion debt 

May 31, 2025
Nigeria may re-introduce telecom tax to obtain new $750 million World Bank loan 
Sectors

Telecom operators set up Working Group to protect infrastructure across Nigeria 

March 30, 2025
Sterling Bank CEO advocates for AI dev’t to maintain global competitiveness
Politics

Senate urges Ministry of Communications to review data cost increase in Nigeria 

March 27, 2025
9mobile court case. Investors sue 9mobile, Owners of 9mobile, Teleology, 9mobile, KPI, NCC, CBN
Sectors

Nigerian telco, 9mobile refutes shutdown rumor amid rising complaints by subscribers 

March 21, 2025
REPS
Business News

Reps move to ban pornography, order NCC to block access across Nigeria

March 12, 2025
Next Post
Repatriation of funds, Looted funds, Ibrahim Magu, EFCC targets slush funds

Ahead of elections, EFCC hits bad politicians hard where it hurts most

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • FCMB reassures investors on forbearance loans, outlines plan to sustain dividends
  • CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028
  • SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 

Follow us on social media:

Recent News

MD FCMB, Mrs. Yemisi Edun

FCMB reassures investors on forbearance loans, outlines plan to sustain dividends

June 17, 2025

CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028

June 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics