Home / NEWS / NCC moves To Intervene in Latest 9Mobile – Teleology Holdings Crisis

NCC moves To Intervene in Latest 9Mobile – Teleology Holdings Crisis

Following the recent hiccup in the conclusion of the Teleology takeover of Nigerian telecom company, 9Mobile, regulatory body, the NCC has decided to step back into the matter.

The regulator is looking to avoid a breakdown in the transition process falling the sale last November.V

9mobile’s troubles may not be over yet, as Adrian Wood and Teleology Holdings move to withdraw from the takeover deal. But the situation isn’t as serious as it looks.

Speaking over the weekend, NCC boss, Umar Dandatta said he would do all he can to resolve the crisis in the struggling telecom company. He said his decision is hinged on a need to protect both customers and investors.

“The bone of contention is between Teleology Holdings Limited and Teleology Nigeria, over some disagreements, but as a regulator that is both customer and investor-centric, we have set up some measures to resolve the issue between the two parties.

What’s Going On At 9Mobile and Teleology Holdings?

According to recent reports over the last few days, the preferred bidder and eventual winner of the 9Mobile sale, Teleology Holdings, is on the verge of pulling out of the deal. Initial reports suggest that several internal issues have dogged the takeover attempt since it was concluded in November 2018.V

The issue is actually between Teleology Holdings and its local venture partner, Teleology Nigeria. And this has brought to light some very interesting and previously unknown facts.

Importantly, it appears the true owners of 9Mobile is actually Teleology Nigeria, a “fully registered indigenous company”, and not Teleology Holdings. Meanwhile, Teleology Holdings, the main company fronted by Adrian Woods, is only a minority shareholder following the conclusion of the 9Mobile sale. One source says Teleology Holdings holds just 13% equity in the company.

And as it turns, Teleology Holdings alleges that the current management of 9Mobile (Teleology Nigeria) has been sabotaging its plans following the deal. It claims that its partner has taken some actions outside of the business plan both parties agreed in November.

One notable “sabotage” was the Teleology Nigeria’s decision to block a proposed management services contract. The contract was expected to bring in experts who could help the struggling telco realize the new business plan.

But Teleology Nigeria alleges that was a fraud. It accused the Adrian Woods’ Teleology Holdings of going against due processes and standards of operation.

Teleology Nigeria also accused Woods’ Teleology Holdings of failing to remit the $600 million for its 13% ownership of 9Mobile.

Now this raises further question, as the 9Mobile sale was rumoured to cost around $300-$500 million. So why should a 13% equity stake cost $600 million?

Following these disagreements and allegations however, Adrian Woods has since resigned from the newly constituted 9Mobile Board. He also resigned from the board of Teleology Nigeria.

Importantly, his pullout puts the $50 million cash deposit he paid during the 9Mobile sale at risk, sources say. His exit may also require Teleology Nigeria to change its own name perhaps.

We sincerely hope that the interest of the average user is protected after all.

About Dotun Roy

DotunRoy.com is a development driven news website with the overall goal of amplifying, promoting and advocating for positive societal change through Sustainable Development advocacy in line with UN SDGs components such as education, environmental sustainability and Climate Change, Human Rights, health, finance, housing, good governance as well as security in Nigeria and across the world.


Strict Standards: Only variables should be assigned by reference in /home/dotunroy/public_html/wp-content/themes/jarida/comments.php on line 21
  1. I couldn’t resist commenting

  2. Legally isotretinoin from canada cod accepted pharmacy Donde Comprar Levitra En America cheap cialis accutane tablets buy

  3. Amoxicillin 500 Tev Price Of Levitra 20 Mg Whare Can I Get Cialis No Prescription buy viagra levitra Canadian Pharmacy Uk Doxycycline 100mg Tablets In Canada Zithromax Skin Abscess

  4. Good day I am so excited I found your webpage, I really found you by mistake, while I was looking on Google for something else, Regardless I am here now and would just like to say many thanks for a fantastic post and a all round enjoyable blog (I also love the theme/design), I don’t have time to look over it all at the moment but I have bookmarked it and also added in your RSS feeds, so when I have time I will be back to read a great deal more, Please do keep up the great job.

  5. Propecia Dizionario Levitra Hoher Blutdruck Hair Growth Propecia Treatment viagra Viagra Usar

  6. Hi there! Nice stuff, do keep me posted when you post again something like this!

  7. Can I simply say exactly what a relief to discover somebody who truly knows what theyre speaking about over the internet. You definitely learn how to bring a difficulty to light and work out it critical. The diet should see this and can see this side of your story. I cant believe youre less well-liked since you absolutely provide the gift.

  8. On Line Acticin Scabies viagra Where Can I Purchase Prandin In Europe Baclofen En Canada Viagra Dog Rx

Leave a Reply

Your email address will not be published. Required fields are marked *