According to a new report on Sahara Reporter, Teleology, Nigeria has pulled out of further participation with the brand which it paid for in October 2018.
9mobile originally Etisalat is the fourth of Nigeria’s mobile service providers, rebranded as a result of a syndicated loan of $1.2billion owed a consortium of 13 Nigerian banks.
In the aftermath, its erstwhile technical partners Etisalat exited the business and requested that the use of the ‘Etisalat’ brand name by the company be discontinued forthwith.
Based on reports on Sahara Reporters, the new owners of the telecommunication brand have become really uncomfortable with the progression and agreed on a business plan, since the takeover, most important of which is how it has been blocked from concluding a management services contract with the local joint venture, Teleology Nigeria Limited.
Adrian Wood who is supposed to lead the team of Directors under the new management of the brand has been reported to have resigned from his duties due to these restrictions levelled on his brand.
Further reports have shown that Teleology Holdings Ltd will be seeking to exit its shareholding in the local joint venture Teleology Nigeria Limited, which will be required to change its name. The development may further compound the woes of the struggling 9mobile operation.
In a pre-disconnection notice advertised by the Nigerian Communications Commission (NCC)) on December 18, HIS, the infrastructure services provider which hosts majority of 9mobile’s base stations, was granted permission to disconnect 9mobile and other debtor telecom operators within a 10-day ultimatum, ostensibly on account of 9mobile’s indebtedness. Should this disconnection take place, subscribers on 9mobile’s network would have been effectively shut out completely from the telecommunications network and would be unable to make or receive calls.
However, if the new investment fails then it might sadly happen that 9mobile might not see the light of its new mobile market in the teaming Nigerian population.