Teleology has formally taken control of Nigeria’s troubled telecommunication company, 9mobile, by appointing a new board of directors headed by 54-year-old Nasiru Ado Bayero.
Stephane Beuvelet will serve as the acting managing director, according to a statement by Mohammed Edewor, a new Non-Executive of 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-Executives Director), Winston Ndubueze (Non-Executive Director) and Abdulrahman Ado (Executive Director).
“As we begin this epochal phase, we wish to thank all 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 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 in using 9mobile.”
Edewor 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 CBN in collaboration with the Nigerian Telecommunication Commission (NCC), in July 2017, appointed a board of directors chaired by Nnanna, a Deputy Governor of CBN, to oversee the affairs of the company pending the completion of regulatory due diligence of the bid documents submitted by Teleology and 16 others.
The bid process was midwived by Barclays Africa.
9mobile’s new Chairman Bayero is a graduate of Mass Communication from the University of Maiduguri.
He is the Chiroma of Kano and district head of Nassarawa in the state.
He is familiar with boardroom politics being a director of Platform Petroleum Ltd., Sahelian Energy & Integrated Services Ltd., Seplat and Intels.
Bayero 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 Endo Limited, a Nigerian company providing currency operation support services to the CBN.