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Teleology Looks for $50m to Pay Non-Refundable Deposit for 9Mobile

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Teleology, the special purpose firm that reportedly emerged the preferred bidder for the acquisition of 9Mobile has till this week to pay a $50 million non-refundable deposit as the 21-day deadline expires.

 

This is as Smile Telecoms, the reserved bidder for 9mobile is waiting eagerly to step in if Teleology fails to meet the payment deadline.

 

Smile’s US$300 million bid for the country’s fourth largest telecom provider failed to make the cut, leaving Teleology, led by Adrian Wood, pioneer Managing Director of MTN Nigeria to emerge the preferred bidder with its US$500 million bid.

 

Smile says it still has its eyes on 9mobile ifTeleology fails to pay the US$50 million deposit

 

Ahmad Farroukh, executive director, Operations, Smile Communications, a subsidiary of Smile Telecoms Holdings, has stated that Smile has all it takes to reposition 9mobile and make it attractive and competitive again, within a space of 90 days if given the opportunity to acquire it.

 

Farroukh who spoke to journalists in Lagos, argued that 9mobile deserves the best and should be sold to an existing telecoms company with the right technical expertise and financial strength to manage it and turn it around for the highly competitive market within few months.

 

According to Farroukh, Smile will bring three dimensional value to 9mobile once it is allowed to take possession of the company.

 

“The first value is that we are Nigerian company already existing in the Nigerian telecoms space. So we will come up with our existing assets to boost the 9mobile operations. We will seek the permission of NCC to flip our existing 800MHz frequency to 9mobile to enhance its operations. What we are bringing to 9mobile is huge.”

 

“The 800MHz frequency, which Smile Communications currently operates on, will be added to that of 9mobile to achieve the best frequency ever that will serve the customers better and help 9mobile to come out of its current challenges. Without exaggerating, we are sure to add additional 600 Base Transceiver Stations (BTS) of Long Term Evolution (LTE) technology, into the operations of 9mobile within a space of 90 days, if given the opportunity to acquire it.”

 

“We will from day one, integrate our existing facilities with that of 9mobile to get the company back to its old good days, when it was the best voice and data telecoms company in Nigeria. 9mobile currently has 500 BTS across the country, and by the time we add our 400 existing BTS and combine it with the 600 BTS that we can provide within 90 days, 9mobile will be having approximately 1,500 BTS, which will match the number of BTS that the largest telecoms operator in the country currently has. So should we acquire 9mobile, we will make it competitive from day one with unprecedented speed of service delivery.”

 

He added, “The second value that we will bring to 9mobile is the monetary value. We will bring in new investments from foreign financing outside Nigeria, into 9mobile to pay off its indebtedness to the banks and also pay off any other group that the company is indebted to, and we will still have enough to invest in 9mobile and make it competitive. Let me tell you that several countries around the world still believe in the Nigeria story and we will reach out to them to get fresh funds to invest in 9mobile.”

 

The third dimensional value that Smile Telecoms Holdings will bring to 9mobile, according to him, is about the company’s long standing experience in telecoms business.

 

“I have handled telecoms business in Nigeria, including being the CEO of MTN Nigeria from 2006 to 2011, before I was appointed as Director to oversee the MTN West African operations, before joining Smile Communications. Nigeria has made me what I am today and I am grateful to God and to Nigeria. In Smile Communications and Smile Telecoms Holdings, we have seasoned telecoms experts and we are bringing that expertise to 9mobile if given the opportunity to acquire it. We are convinced that our three dimensional values will make 9mobile a successful company if we are allowed to manage it,” Farroukh said.

 

On 9mobile indebtedness to banks, he stated that Smile was very much aware and had a strategy to resolve it. “Yes we are very much aware of the debt profile of 9mobile and we are capable of handling it. What we intend doing if given the opportunity to manage the telecoms company, is to split the debts and give timeframe to offset them. As for the banks who are the biggest creditors to 9mobile, we will ensure that they do not lose any money. We will enter into agreement with them on the modalities of payment and we will surely pay them. We will come up with debt restructuring for both the banks and the vendors and they will get back their money. With 9mobile, we want to be the best data centric operator in Nigeria and we are sure we can achieve it.”

 

Smile Telecoms,  it will be recalled emerged the Reserved Bidder on the sale of 9mobile handled by Barclays. The company has however expressed concerns with the way the transaction was has handled and has since written to Barclays, the financial adviser that handled the sales process on its concerns.


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Glo Boosts Network Capacity for Enhanced Customer Experience

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Globacom is rolling out extensive network improvements to deliver a significantly better experience for its customers. These proactive measures are designed to ensure subscribers continue to get excellent value, particularly following recent tariff adjustments.

The ongoing upgrade involves a widespread deployment of new base stations, expanding coverage to previously underserved areas, and strengthening existing coverage in growing population centres. This strategic densification will guarantee superior network quality for both voice and data services across the entire country.

In a significant investment, Globacom is also re-routing its fibre infrastructure in several locations where road construction has compromised the fibre, including vital routes like Auchi-Okene and Benin-Ekpoma, Lafia-Akwanga, Minna-Abuja, and Funtua-Gusau.

“We decided, at a huge cost, to relocate the fibres, many of which had been vandalized in several places by uncoordinated road construction activities, in order to bring best-in-class services to customers”, the company disclosed.

Customers can look forward to brighter days ahead as Glo completes the deployment of hundreds of new sites nationwide. This year alone, thousands of 4G LTE sites have been activated in key cities, with additional hundreds of new sites are currently being deployed to further boost connectivity. These efforts are supported by massive upgrades of backhaul capacity (microwave and fibre) and a seamless improvement in the core network.

Globacom assured its subscribers that these ongoing initiatives will translate to enhanced service delivery, expanded coverage, faster data speeds, and overall improved network performance. The company plans to add over a thousand new sites in the next year, prioritizing LTE expansion to deepen its reliable data reach and extending fibre to more hub sites for greater service robustness.

Furthermore, Glo is committed to minimizing its carbon footprint by expanding hybrid power solutions and relying more on battery power across its sites, representing another substantial investment.

Despite these positive developments, Globacom continues to highlight the challenge of deliberate sabotage of network equipment, even with its designation as critical national infrastructure, emphasizing the need for stronger protective measures.


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MTN’s Uto Ukpanah Becomes 30th ICSAN President, Reinforcing Female Leadership in Governance

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L-R: Dr. Karl Toriola, CEO, MTN Nigeria; Uto Ukpanah, President, ICSAN and Company Secretary, MTN Nigeria, and Aniekan Ukpanah, Managing Partner, Udo Udoma & Belo-Osagie at the Investiture Ceremony of Uto Ukpanah as ICSAN 30th President, held in Lagos on Wednesday, July 23, 2o25.
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Nigeria’s corporate landscape is witnessing a significant transformation, with women increasingly occupying leadership positions and reshaping the narrative at the highest levels. A striking example of this shift unfolded recently as Mrs. Uto Ukpanah, FCIS, Company Secretary of MTN Nigeria, was inaugurated as the 30th President and Chairman of Council of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).

L-R: Dr. Karl Toriola, CEO, MTN Nigeria; Uto Ukpanah, President, ICSAN and Company Secretary, MTN Nigeria, and Aniekan Ukpanah, Managing Partner, Udo Udoma & Belo-Osagie at the Investiture Ceremony of Uto Ukpanah as ICSAN 30th President, held in Lagos on Wednesday, July 23, 2o25.

Historically, ICSAN was led exclusively by men for nearly 57 years. However, the trend began to change in 2023 when Mrs. Funmi Ekundayo broke barriers as the Institute’s first female president. In 2025, her successor and former vice president, Mrs. Ukpanah, has now become only the second woman to assume the presidency, marking a major milestone in Nigeria’s governance sector.

This development aligns with the broader momentum for women’s leadership across Nigeria’s business ecosystem. MTN Nigeria stands out as a champion of gender diversity. The company’s 2024 Annual Report reveals that women now constitute 41.4% of the workforce, a marked increase by 3% compared to 2023.

Among executive management, women hold 34.7% of positions, while female board representation stands at 21.4%. MTN’s deliberate drive, bolstered by initiatives such as the Women in Tech programme and the Y’ello Mums Internship, is fostering a pipeline of female talent across all tiers.

Female leaders at MTN are shaping strategy and impact on multiple fronts: Dr. Mosun Olusoga chairs the MTN Foundation; Odunayo Sanya serves as the Executive Director, MTN Foundation; Dr. Omobola Johnson contributes as a Non-Executive Director of the Board of Directors; and a host of others including Lynda Saint-Nwafor, Onyinye Ikenna-Emeka, Esther Akinnukawe, Ugonwa Nwoye, among others, lead critical business functions.

MTN’s policy of inclusion is reflected not just in numbers, but in recent recognitions. In 2024, Odunayo Sanya was named CSI Personality of the Year at the Nigeria Tech Innovation & Telecoms Awards, and Josephine Sarouk, Managing Director of Bayobab Nigeria (subsidiary of MTN), received the Woman in Telecoms Award in London.

Mrs. Ukpanah herself was honoured as the first-ever African recipient of the Global Corporate Secretary of the Year Award by the Corporate Secretaries International Association (CSIA), a testament to her pioneering leadership.

Ukpanah’s investiture as ICSAN President was held on July 23, 2025, in Lagos, attracting an array of dignitaries, government officials, and business leaders. Chaired by Prof. Hakeem Belo-Osagie, with a keynote delivered by Dr. Omobola Johnson, the event saw the full support of MTN Nigeria’s top brass, including CEO Karl Toriola and Board Chairman Dr. Ernest Ndukwe. In his goodwill message, Dr. Ndukwe remarked:

“This honour is a fitting recognition for Uto’s distinguished career, unwavering professionalism, and deep commitment to the principles of good governance. Uto has consistently exemplified the values that I believe ICSAN upholds, and we are confident that her leadership will further strengthen the Institute’s aspirations towards promoting excellence in governance.

“At MTN Nigeria, we are proud of her achievements and reaffirm our full support as she embarks on this important assignment. We look forward to the positive impact her tenure will bring to ICSAN.”

Also, her husband, Aniekan Ukpanah, Senior Partner at Udo Udoma & Belo-Osagie, described her as “a passionate steward, rooted in family, bound by purpose, and committed to legacy.” Outgoing ICSAN President Mrs. Ekundayo added that Ukpanah is “astute, visionary, and principled.”

Mrs. Ukpanah’s ascendancy to ICSAN’s top office, and MTN’s visible support, do more than celebrate personal or organisational victories; they signal a new era, one in which women are not just present, but are key architects of governance and future prosperity for Nigeria.


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NIMC Warns Nigerians Against Selling NIN Data Amid Rising Identity Fraud

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National Identity Management Commission (NIMC) has issued a stern warning to Nigerians over the illegal sale of personal data, including the National Identification Number (NIN), amid reports of a growing underground market targeting unsuspecting citizens.

In a statement released on Sunday, the Commission expressed deep concern following revelations by the Economic and Financial Crimes Commission (EFCC) that young Nigerians are offering between ₦1,500 and ₦2,000 to individuals in exchange for their NIN and other sensitive details. These details are then allegedly resold to certain fintech platforms for as much as ₦5,000.

“This is not just a case of minor fraud, it’s a threat to national security and personal safety,” said Dr. Kayode Adegoke, Head of Corporate Communications at NIMC. “When you hand over your data to unknown agents, you are essentially handing over control of your identity.”

The Commission reiterated that it will not be held liable for any misuse of personal data shared voluntarily by individuals or through third parties for financial gain or inducement.

NIMC further cautioned service providers to ensure that every NIN presented for services is properly verified using approved channels before access is granted.

To safeguard personal identity, Nigerians are encouraged to download the NINAuth App, available on Apple iOS and Google Play Store. The app enables users to manage, secure, and control access to their NIN data.

“The story of your identity should be written by you, not sold for a quick payout,” the Commission stated.

NAN reports that the NIMC’s advisory comes amid rising concerns over digital identity theft and the misuse of personal data in Nigeria’s expanding fintech ecosystem.


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