Thomas Etuh has been named chairman of 9mobile’s board following the acquisition of a majority stake by LH Telecommunication Limited.
In a statement released on Sunday, the board announced that the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) have approved this equity investment.
LH Telecommunication acquired a 95.5 percent stake in 9mobile, resulting in a change of control. The investment was approved by the African Export-Import Bank (AFREXIM), 9mobile’s senior lender, in May 2023. This involved the issuance of new shares amounting to 95.5% of 9mobile to the new investor in exchange for fresh capital.
Following the acquisition, the new investor nominated several individuals to the board, including Nahim Abe Ibraheem, Femi Edun, former senator Daisy Ehanire Danjuma, Michael Ikpoki, Ibrahim Puri, Gloria Danjuma, and Emmanuel Etuh.
The board also confirmed the appointment of Obafemi Banigb as managing director (MD) and chief executive officer (CEO) to guide the company through its transition and recovery.
“Obafemi is an accomplished technology executive with a proven track record of driving technological innovations and strategic initiatives across key markets in Africa,” 9mobile said. He has over 24 years of experience in the telecommunications industry, having held positions such as Network Operations Director at Airtel Nigeria, Chief Technology Officer at Millicom International Cellular Tanzania, and Chief Operating Officer and interim CEO of Millicom Ghana. Obafemi’s deep technical knowledge and leadership will be invaluable to the team.
The board stated that the reconstitution of its directors and executive leadership marks a significant phase in 9mobile’s transformation programme, positioning the company to compete effectively in the market.
Additionally, the board announced the appointments of John Vasikiran as chief operating officer and Abolaji Idowu as chief financial officer.
