Teleology has formally taken over 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 director of the new 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 Executive Director), Winston Ndubueze Udeh (Non Executive Director) and Abdulrahman Ado (Executive Director).
“As we begin this new epochal phase, we wish to thank all the 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 the 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 for using 9mobile,” stated Ado Bayero in his first statement following the takeover.
Edewor also 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 Central Bank of Nigeria (CBN) in collaboration with the Nigerian Telecommunications Commission (NCC), in July 2017 appointed a board of directors chaired by Nnanna, the 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 for its acquisition.
The bid process was midwifed by Barclays Africa.
9mobile new chairman Bayero, is a graduate of Mass Communication, from University of Maiduguri.
He is a prince of the Bayero royal family in Kano. He is the Ciroman of Kano and is the district head of Nassarawa in the state.
He is familiar with boardroom politics, being a director of Platform Petroleum Limited, Sahelian Energy & Integrated Services Limited, Seplat and Intels.
He also worked at Continental Merchant Bank from 1988 to 1989, Coastal Corporation (Oil & Gas Company), Houston, Texas, from 1990 to 1991 and Hamlet Investment, Incorporated from 1991 to 1992.
Bayero is the chairman of Enclo Limited, a Nigerian company providing currency operations support services to the CBN.