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NCC, CBN Query Barclays’ Transparency in Sale of 9mobile

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The handling of the sale process of 9mobile by Barclays Africa, the financial advisers, has come attack from the Central Bank of Nigeria (CBN) and the Nigeria Communications Commission (NCC), according to the Cable.

 

Barclays Bank has been saddled with the responsibility of finding investors for 9mobile based on the decision of Nigerian lenders.

 

In a joint letter to GTBank, which is the facility agent for the 9mobile syndicated loan, Umar Danbatta, the executive vice-chairman of NCC, and Godwin Emefiele, the governor of CBN, expressed displeasure with the “unwillingness of Barclays Africa” to follow due process in the bid.

 

In the letter, dated November 4, 2017, the two regulators said they made it clear from the outset that the sale process must be “transparent and fair, with the financial and technical capabilities of the final bidders without question”.

 

They said they now have “serious concerns” since the appointment of Barclays Africa as financial advisers.

 

“They have repeatedly exhibited signs of opacity in the sale process for 9mobile. Given the overriding public interest in the company and the need for transparency, we advised that Barclays advertise the call for ‘expression of interest’. Barclays declined, insisting instead that the company being a private one, should not be taken through a public sale,” they wrote.

 

“This lack of a transparent process has proven to be selective and arbitrary, leading to allegations that the process is being teleguided to a rigged and predetermined outcome. The CBN and the NCC will not fold their arms and allow this to materialise.”

 

Danbatta and Emefiele said they had received reports and petitions from various stakeholders, including some bidders, which have further heightened their concerns — but their suggestions to the board of 9mobile and Barclays on how to restore credibility to the process have been ignored.

The CBN and NCC then directed that all steps and decisions taken by the financial advisers as well as other advisers from the end of “expression of interest” must be communicated to CBN and NCC, who will have to approve in writing.

They also directed that the final bid process must be “open and transparent” in line with international best practices.

 

Danbatta and Emefiele said the December 31, 2017 deadline for the handover of 9mobile to the preferred bidders “remains sacrosanct”.

 

On Monday THISDAY reported that 1o firms have moved to the financial stage of the bid process.

 

The companies listed are: Globacom Nigeria Limited, Bharti Airtel, Alheri Engineering Limited, Smile Telecoms Holdings, Helios Towers, Centricus Capital, Africell, Abraaj Capital, Teleology Holdings Limited, Ericsson, Africa Capital Alliance (ACA) and The Carlyle Group.

 

The company formerly knows as Etisalat Nigeria changed its brand name to 9Mobile in July after the Mubadala Group, the major investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator following a N541 billion debt.

 

The debt is owed to a consortium of 10 banks, with GTBank acting as the facility agent.

 

The sale of 9mobile, with 21 million subscribers, is expected to bring in the needed capital to restore it to good health.


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9Mobile Blames Network Outage on Data Center Fire in Lagos

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9Mobile, mobile network operator, has blamed a network outage this week on a fire incident at its main data center in Lagos.

9Mobile Blames Network Outage on Data Center Fire in Lagos

The fire is said to have happened on Tuesday night (December 17), leading to network issues for 9Mobile’s customers until Thursday.

9Mobile said it had experienced multiple fiber cuts which had led to some of the disruption.

Its customers have taken to social media to complain about a lack of voice and data services.

9Mobile is estimated to have more than 11 million mobile subscribers.

The latest outage follows a six-day outage that impacted the carrier in July.

“9Mobile sincerely apologizes for the recent service outages experienced by our valued customers which have affected our ability to provide voice, data, and internet services. We understand the frustration these disruptions have caused and deeply regret the inconvenience,” said 9Mobile in a statement.

“Our technical team has identified the root causes of the outages including a fire incident at our main data center in Lagos last night which severely impacted services, especially in the Lagos and South-West.  We are grateful for the swift intervention of the Lagos State Fire Service, which helped prevent further damage.”

The cause of the fire was not revealed by the carrier.

Acknowledging the fiber cuts, 9Mobile explained that prior to the fire, a fiber cut on the backbone links in Lagos led to a total data outage across the country. Other vandalism incidents in Lagos and Abuja led to a total service outage in the southwest and a data service outage in the north of the country.


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Sytemap Announces 50% Discount on Verified Lands for Women, March 8–14, 2025

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Sytemap, a trusted leader in land acquisition and technology solutions, is thrilled to announce a groundbreaking initiative designed to empower women through affordable and secure land ownership.

From March 8 to March 14, 2025, women—including professionals in Africa and the diaspora—will enjoy an exclusive 50% discount on plots from verified estate developers through the Sytemap platform.

This initiative, themed “Her Land, Her Future,” underscores Sytemap’s commitment to breaking cultural and economic barriers that have historically sidelined women from property ownership. Partnering with over 30 reputable estate developers, Sytemap is creating unprecedented opportunities for women to invest in land with confidence.

For decades, women in Nigeria and across Africa have faced significant hurdles in land acquisition, including high costs, fear of fraud, and societal biases. In fact, studies show that 65% of victims of land scams in Nigeria are women.

Sytemap’s CEO, Nnamdi Uba, stated, “Women have long been marginalized in land ownership, a critical path to building wealth and security. Our mission is not only to make land ownership accessible but to eliminate the fears and uncertainties that hold women back.”

With this initiative, Sytemap leverages its reputation for transparency and cutting-edge technology to offer a simple, scam-free, and empowering process for land purchase.

The campaign is designed to resonate with young professionals, particularly women with good-paying jobs who are ready to invest in their future. For women in the diaspora, the initiative offers tailored support, including seamless international payment options and an innovative plot-monitoring app that allows buyers to manage their investments from anywhere in the world.

Key Features Include:

50% Discount: Available only during the trade fair window (March 8–14, 2025).

Verified Estates: Secure locations vetted by Sytemap and trusted developers.

Flexible Payment Plans: Options to spread payments over several months to ease financial stress.

Digital Monitoring: A dedicated app to track land purchases and allocation progress.

Guaranteed Transparency: Every outright payment comes with instant, verifiable certificate allocation, with land documents delivered within three weeks.

This initiative will launch during the “Sytemap Land Trade Fair 1.0,” an event bringing together key stakeholders, women’s organizations, and influencers to celebrate this transformative moment. Women in the diaspora are encouraged to participate and take advantage of this life-changing opportunity.

Imagine a future where women are equal stakeholders in property ownership, shaping communities and securing generational wealth.

Sytemap invites women across Africa and the diaspora to claim their space and rewrite the narrative of land ownership.

For more details and to reserve your plot, visit https://sytemap.com/women.


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Konga to Launch Africa’s First AI-Powered Hit Music & Commerce Radio Station

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Konga, a leading composite e-commerce group, is poised to transform the Nigerian media and commerce landscape with the upcoming launch of its AI-powered FM radio station in Lagos.

The groundbreaking initiative, set to debut in January 2025, will mark Africa’s first Hit Music & Commerce Station, blending Technology, Entertainment, Commerce and more to drive impactful connections across the continent and the world.

A reliable source reveals that the station – KongaFM will be a pioneering platform to empower brands, distributors, and original equipment manufacturers (OEMs) to connect with untapped markets, revolutionizing commerce in real time. While offering businesses a new avenue for product visibility and market penetration, the station promises to deliver non-stop hit music, ensuring listeners enjoy a unique mix of entertainment and commercial opportunities. It will be a completely new experience for Nigerians.

Equipped with state-of-the-art broadcasting technology and staffed by a dynamic new blend of seasoned professionals and youthful talent, the station will begin test transmissions in the second week of January 2025.

Konga’s latest media venture comes as part of its broader strategy to disrupt conventional marketing communications and amplify consumer engagement across sectors, including FMCG, electronics, and digital solutions.

The move is expected to send ripples across Nigeria’s FX market, potentially influencing the pricing and availability of key goods and commodities. This aligns with Konga’s history of innovation in the e-commerce sector.

This initiative will also complement Konga’s existing TV arm and other media services, positioning the brand as a dominant force in Marketing Communications. Together, these platforms will create synergies that set new benchmarks for how entertainment and commerce converge in Africa while streaming globally.

When asked for further details, Prince Nnamdi Ekeh, CEO of Konga Group, remained tight-lipped, stating that “full details and official announcements will be made in January 2025.”

The anticipation around this launch continues to grow as industry experts and media enthusiasts eagerly await what is already being hailed as the next major evolution in Africa’s media and commerce space.


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