LH Telecoms acquires 9Mobile, names new management, board

Emerging Markets Telecommunication Services Limited, operating under the trade name 9Mobile, has been acquired by LH Telecommunication Limited.

The acquisition has been approved by the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC), as mandated by law.

This investment, approved by the African Export Import Bank (AFREXIM) in May 2023, resulted in a significant change of control at 9Mobile. New shares amounting to 95.5 per cent of the company were issued to the new investor in exchange for fresh capital.

Following the capital injection, LH Telecommunication Limited appointed a new Board of Directors.

Thomas Etuh, a seasoned entrepreneur with over 36 years of experience in key sectors of the African economy, has been named Chairman of the Board.

Other directors include Nahim Abe Ibraheem and Femi Edun. Additionally, LH Telecommunication Limited nominated Senator Daisy Ehanire Danjuma, Michael Ikpoki, Ibrahim Puri, Gloria Danjuma, and Emmanuel Etuh to the board.

The new Board has confirmed the appointment of Obafemi Banigbe as the Managing Director and Chief Executive Officer, leading the company through this transition and recovery phase.

Banigbe’s appointment as CEO was recently announced by 9Mobile.