News Highlights:
- 9mobile has denied being a party to any legal suit or affected by any court order, contrary to media reports.
- The telecom firm has clarified that the court order in question was related to “Keystone Bank v. Teleology Nigeria Limited,” not 9mobile.
- 9mobile emphasized that it is not liable for actions taken by its minority shareholder, Teleology Nigeria Limited
Emerging Markets Telecommunication Services Limited (EMTS), trading as 9mobile has denied being a party to any suit or being affected by the order said to have been made against it as an entity as reported by a cross-section of the media on Friday.
EMTS was reacting to a wave of syndicated media publications (Digital TimesNG not inclusive) dated Friday, July 19, 2024, with the same copious headline, “Court orders 9mobile to pay N55bn debt to Keystone Bank.”
The Management of 9mobile said in a statement addressed to the concerned public and critical stakeholders Saturday morning, “The said story is not only false but also defamatory in its effect on the 9mobile corporate reputation.
“If the correspondents who filed the syndicated news stories were anywhere near the courtroom during the proceedings leading to the issuance of the said order, they would have known that at no point was 9mobile a party to the suit in question.
“Rather, the action was appropriately classified and filed as, “Keystone Bank v. Teleology Nigeria Limited.”
“For the avoidance of doubt, no judgment was made against 9mobile and the attempt to link our corporate entity with a transaction by our minority shareholder, Teleology Nigeria Limited in its legal tussle with Keystone Bank, is false and maliciously misleading.
“9Mobile is under new ownership with a 95.5 % controlling stake in the business and has not been found liable for the action of its minority shareholder in the suit in question.
“Our business transformation programme has commenced, and we are poised to reclaim our place in the market,” the Management further stated.