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Teleology finalises takeover of 9mobile, pays $50m deposit
Teleology Holdings Ltd., says it is transferring a non-refundable completion deposit of 50 million dollars to the trustees of the bank syndicate presently holding ownership of 9Mobile.
The company made this known in a statement signed by Mr Adrian Wood, Teleology’s Director and pioneer Managing Director of MTN Nigeria.
Wood said the payment underscored Teleology’s financial capability and readiness to revive the organisation, adding it was set to aggregate a 10-point to turn 9mobile around.
“The Nigerian telecom sector is set to witness a new era of innovation and vibrancy as Teleology puts finishing touches to its acquisition of 9mobile, Nigeria’s 4th telecom services provider.
“In the last few days, key executives of the organisation have been deep in meetings with the Nigerian bank syndicate, the regulatory authorities and advisors.
“These meetings have culminated in the signing of the Share Purchase Agreement (SPA) and other contractual documents pertaining to the acquisition.
“Ahead of the March 22 deadline set by the Financial Advisers, Teleology has also transferred a non-refundable completion deposit of 50 million dollars to the trustees of the bank syndicate presently holding ownership of 9Mobile.
“Equally important, Teleology has detailed an ambitious plan of action that will guide its rapid overhaul not only of the network but all aspects of the operations,” he said.
According to Wood, 9mobile is transiting into a new phase that will be defined by optimal value delivery: value to our employees, value to our customers, value to local communities and indeed to all stakeholders.
He added that the new organisation to emerge would be “engineering- led and brand-driven”.
He said in delivering service, it would strive to ensure that 9Mobile operations delivered fulfillment to the customers, empowerment to local communities, protection to the vulnerable, and excellent rewards not only to the shareholders but to all stakeholders.
Wood said the company planned to double the 9Mobile network with new 3G/4G specific cell sites as well as several thousands of kilometers of fiber optic cable across the country.
He said it would drive a special programme of rural internet coverage, focusing on 4G with broadband access planned for all of Nigeria’s 774 local government areas.
He said youth engagement and employment programmes were also planned with all build contractors, distributors and consultants, while investment in broadband internet access technologies which were completely new to Nigeria was also planned.
“Very importantly, the 9Mobile network will be optimised for high speed and high capacity data including imaging, video, games, music, IPTV and more.
“Any three-point plan or three-dimension idea is naïve and completely missing the scope and complexity of the urgent Nigerian need to be brought into the 21st-century broadband era.
“Teleology envisages an increase of 50 per cent indirect employment in the new 9Mobile.
“There is also an active plan to introduce within the first year, several million 4G-capable premium quality smartphones, at exceedingly affordable pricing.
“Nigerians should look forward to a new regime of intensely exciting and innovative brand loyalty rewards programmes, from the new 9Mobile,” he said.
He said that Teleology had entered into an alliance with Safaricom, the largest network operator in East Africa, famous for its global “mpesa” mobile financial services system.
He said the system advances financial inclusion and supports the network with the highest operating efficiencies in Africa.
He said that Teleology’s coming at a period when competition in the Nigerian telecom industry had for some years been limited to price wars between the various GSM companies, clearly, would herald a new era of intense competition and market share.
He said that Teleology was promoted by a group of 12 telecom industry veterans with considerable experience not only in Nigeria and Africa but in the global telecom space as well.
Wood commended the Barclays Africa, the Financial Advisers to the transaction, the Nigerian bank syndicate, the fulsome backing and support of the Nigeria Communications Commission and CBN which made 9Mobile’s survival possible.
He also commended the loyal 9Mobile management and staff who carried on in the face of scepticism, doubt and negative market sentiment.
He assured that additional details including formal relaunch plans would be unveiled in due course.
Teleology emerged as the new owner of 9mobile ahead of Smile, which had been the only other bidder in the final round of the takeover bid.
At the beginning of submission of bids, over 10 bidders had indicated interest in acquiring the mobile network, only five were shortlisted.
These include Bharti Airtel, Globacom, Helios Investment, Smile Communications and Teleology Holdings Ltd.
The acquisition bid was as a result of the Mubadala Development Company of the United Arab Emirates, 9Mobile (formerly Etisalat) largest shareholder, pulling out its investment out of the country.
The pullout was over a protracted 1.2 billion dollars syndicated loan alleged to have been mismanaged by the former board of the telecommunications firm.
News
Widows, Wives and More than 2,000 Residents of Ikeja Police Barracks Benefit from YP4T’s Initiative
More than 2,000 individuals from the Ikeja Police Barracks community benefited from an impactful outreach program spearheaded by Young Professionals for Tinubu (YP4T), an advocacy and support group working in alignment with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
The initiative provided critical medical services, care packages, food supplies, and financial assistance to widows, wives, and vulnerable residents, demonstrating the heart of nation-building through community-centered support.
The program, which united healthcare professionals, community organizers, and volunteers, complemented the government’s broader efforts to bring essential services closer to the people.
Residents of the Ikeja Police Barracks received free medical consultations, blood pressure and diabetes screenings, and wellness advice. Widows and families also left with care packages filled with food items, toiletries, and financial support to help alleviate the pressures of the holiday season.
Dr. Love V. Tinuoye, CEO of Medvita Consultancy and the lead doctor on-site, reflected on the impact:
“This initiative reflects a collective commitment to advancing healthcare in Nigeria. We were able to screen for and address critical health issues such as hypertension and diabetes while also providing preventive care like vaccinations and cancer screenings. This is what true community-focused care looks like.”
Beyond medical services, the outreach distributed care packages containing food staples, toiletries, and financial support, designed to alleviate the challenges faced by vulnerable members of the police barracks community.
The event highlights the ongoing efforts under the Renewed Hope Agenda to provide inclusive support for Nigerians across the country. Initiatives like this not only extend access to essential services but also strengthen the fabric of communities.
Mrs. Jumoke Elom, a businesswoman and beneficiary, shared her gratitude:
“I am deeply grateful for this program. The care my family received today—both medical and material—has given us hope and reminded us that we are not alone. It shows that there is real support for families like mine.”
The outreach program was also a platform for demonstrating the principles of nation-building through collaborative action. Alex Oware, Security Expert and Director of YP4T, explained the motivation behind the initiative: “The Renewed Hope Agenda is about about bringing real transformation to communities. This initiative embodies that vision by supporting over 2,000 people—not just through tangible resources, but by reaffirming their place in the collective growth of our nation. It lies at the soul of Renewed Hope: fostering resilience and creating opportunities for all Nigerians.”
The outreach program extended beyond healthcare, providing food and financial support to families within the police barracks. A touching moment involved a widow who, after receiving her care package, expressed her gratitude with tears of joy. Her story is just one of many that reflect the transformative power of collective action.
This initiative by YP4T—an advocacy and support group of Nigerian professionals from across the globe—represents a continued commitment to driving grassroots impact, inspired by President Tinubu’s vision. The success of the Ikeja outreach program demonstrates the power of collaboration between the public and private sectors to deliver meaningful change across Nigeria.
News
Matawalle Salutes Nigerian Military, Citizens at Christmas
… Calls for Love and Peaceful Coexistence
The Honourable Minister of State for Defence, H.E. Dr. Bello Mohammad Matawalle, has extended warm greetings to the Nigerian military and all citizens, both Christians and non-Christians, during this joyous Christmas season.
In his message, he emphasized the importance of embodying the spirit of love and peaceful coexistence, urging all Nigerians to reflect on these values not only during the festive period but throughout the year.
“This season serves as a poignant reminder of the enduring principles of peace, unity, love, and sacrifice that bind us as a nation,” he stated.
The Minister encouraged every Nigerian, regardless of their religious beliefs, to celebrate and honor President Bola Ahmed Tinubu, GCFR, as well as the brave men and women of the Armed Forces who tirelessly demonstrate their patriotism in safeguarding the safety and sovereignty of our beloved country.
Highlighting the significance of the yuletide season, he noted that it should reinforce our bonds of unity, foster a spirit of camaraderie, and inspire compassion towards one another. He called on all citizens to remain steadfast in their collective efforts to build a secure and prosperous Nigeria.
In conclusion, the Minister wished everyone a Merry Christmas and a Happy New Year.
Henshaw Ogubike, MNIPR, FCAI, FSCA, FCPE
Director of Information, Press and Public Relations
…Says no government has shown so much support to LGs, State Governments like President Bola Ahmed Tinubu….
The Minister of State for Defence, Dr. Bello Mohammad Matawalle, has expressed confidence that the administration of President Bola Ahmed Tinubu GCFR will significantly enhance the economies of Zamfara State and Nigeria as a whole.
Matawalle who is currently on a five-day visit to his home state, the Minister and former Governor of Zamfara commended President Tinubu for his unprecedented support for Local Government Councils and state governments. “No previous administration has demonstrated such a strong commitment to developing local councils and states as President Tinubu,” Matawalle remarked.
He highlighted the President’s role as a grassroots mobilizer, emphasizing his passion for local development. “President Tinubu has allocated substantial funds to states and local government councils, enabling them to undertake impactful development projects,” he added.
Matawalle urged party supporters to collaborate with their leaders to reclaim the lost mandate from the ruling Peoples Democratic Party (PDP) in Zamfara State. “It is essential for all APC members to remain law-abiding citizens,” he stated, reinforcing the party’s commitment to uphold the law.
Addressing a large gathering of supporters who welcomed him, Matawalle reassured them of the federal government’s ongoing efforts to combat banditry and terrorism in the region. “With the federal government’s initiatives to address security challenges, we will soon experience a renewed sense of safety and peace,” he emphasized.
He concluded his address by urging the community to continue supporting the government at all levels. “Together, we can restore peace and order in our country,” Matawalle affirmed.
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