9Mobile appoints Etuh as board chairman

9Mobile has ratified the appointment of Thomas Etuh as the company’s new board chairman after LH Telecommunication acquired 95.5 percent of the telecom form, leading to a change in control of 9Mobile.

In a statement released on Sunday, the company’s board of directors said the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) have approved the equity investment.

“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,” the board said.

The new investor nominated Nahim Abe Ibraheem, Femi Edun, Daisy Ehanire Danjuma, a former senator, Michael Ikpoki, Ibrahim Puri, Gloria Danjuma, and Emmanuel Etuh, to the board following the completion of the acquisition.

The board said Obafemi Banigb’s appointment as the managing director (MD) and chief executive officer (CEO) has been ratified to lead the company through the transition stage and take it on the path of recovery.

Etuh is an accomplished and versatile entrepreneur with over 36 years of experience in strategic sectors of the African economy, including agriculture, fertiliser production, mining, banking, telecommunications, power, and aviation.

He is a passionate leader with a track record of successful corporate management, ensuring that clear objectives and expectations are delivered and sustained.

Mr. Etuh is the founder of the Tak Group of Companies. He previously served as the Chairman of the Board of Directors of Unity Bank Plc, Veritas Kapital Assurance Plc, and Lighthouse Capital Limited.

He is currently the Chairman of the Board of Notore Chemicals Industries Plc. As Chairman of the Jennifer Etuh Foundation (JEF), he has championed several healthcare and life-empowering projects in the underserved regions of Nigeria.