—Etuh, Danjuma, Edun, Ikpoki Others Join 9mobile Board
News Highlights:
- EMTS Limited, operating as 9Mobile, has completed an equity investment by LH Telecommunication Limited.
- The new investor, LH Telecommunication Limited, has nominated several individuals to the board of directors of 9Mobile.
- The reconstitution of the Board and appointment of a new management team is part of the company’s transformation programme.
Following the required approvals from the Nigerian Communications Commission and the Federal Competition and Consumer Protection Commission, Emerging Markets Telecommunication Services Limited, operating as 9Mobile, has announced the completion of an equity investment by LH Telecommunication Limited.
Digital TimesNG understands that the investment, which was approved by African Export-Import Bank (AFREXIM), the senior lender to 9Mobile in May 2023 has resulted in a change in control of 9Mobile in favour of the new investor by the issuance of new shares amounting to 95.5% of 9Mobile to the new investor in consideration for the injection of fresh capital into the company.
Pursuant to the injection of capital, the new investor nominated the following persons to the board of directors of 9Mobile:
Thomas Etuh, the Chairman of the Board, is an accomplished and versatile entrepreneur with over 36 years of experience in strategic sectors of the African economy, including agriculture, fertilizer production, mining, banking, telecommunications, power and aviation.
Nahim Abe Ibraheem has over 30 years of experience across finance, upstream and downstream oil trade, procurement, and manufacturing. He began his career at Orbit Communications in 1990 and founded Soveran Nigeria Limited, a specialty procurement and petroleum product distribution company in 1995.
Femi Edun is a financial services industry professional with over 35 years’ experience across assurance, consulting, credit ratings and research, investment banking and proprietary investment, from a variety of roles in Akintola Williams & Co (now Deloitte), Price Waterhouse, (now PricewaterhouseCoopers), Agusto & Co. Limited, Nigeria’s first credit rating agency and Frontier Capital Limited.
Following the completion of the transaction, LH Telecommunication Limited has nominated the following new members to the board of directors of 9Mobile:
Senator Daisy Ehanire Danjuma was elected as a Senator of the Federal Republic of Nigeria in 2003 where she served on numerous committees, most notably as Chairman of the ECOWAS Parliament’s Women and Children’s Rights Committee and Chairman Senate Committee on Women Affairs and Youth Development.
Michael Ikpoki is an accomplished Multinational Business Executive/Leader with over 25 years of experience across regulatory, commercial, operational management/leadership, and consulting/advisory roles in the African Telecom Industry. He was a former Chief Executive Officer of MTN Ghana and MTN Nigeria.
Ibrahim Ajimasu Puri is a finance professional who possesses over 30 years of cognate banking experience encompassing operations, marketing, retail, corporate banking, and human resource management.
Gloria Danjuma is a dynamic and result-oriented professional with a proven track record of leadership and strategic vision across multiple industries. She has over 20 years of experience driving growth, maximizing shareholder value, and leading organisations through periods of transformation.
Emmanuel Etuh is a professional and business executive whose experience covers law, finance and operations across diverse industries. He currently serves as Executive Director, Corporate Services at Lighthouse Capital, overseeing the operational aspects of the business, including investments, client service, risk and technology.
The new Board has also ratified the appointment of the new management team led by Obafemi Banigbe as the Managing Director and Chief Executive Officer of the Company to lead the Company through this transition stage and take it on the path of recovery.
Digital TimesNG reports that the reconstitution of the Board of Directors and the Executive leadership of the company has brought the 9mobile transformation programme to a momentous phase in readiness to compete strongly in the market.