The number of internet users increased marginally to 94 .8 million in November, the Nigerian Communications Commission (NCC), has said. The NCC made this disclosure in its Monthly Internet Subscribers Data for November 2017 published on its website on Tuesday in Abuja. According to the data, Airtel, MTN and Glo gained more internet subscribers during […]
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Five firms are bidding to acquire troubled telecom firm 9Mobile, formerly Etisalat, the Nigerian Communications Commission (NCC) said yesterday. It was learnt that the five were picked as qualified among the 16 that Expressed Interestto Barclays bank, the financial advisers on the bid. NCC Executive Vice Chairman Prof. Umar Danbatta said yesterday the five successful […]
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Bharti Airtel Limited is interested in acquiring Nigeria’s 9mobile, according to Goldman Sachs. If the Sunil Mittal-led telecom firm buys 9mobile, it will become the number one operator in Nigeria, Goldman Sachs added in the report based on an analyst meet arranged by the company. Bharti Airtel, Helios Investment Partners, Smile Telecoms, Globacom and Teleology […]
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Telecom company, 9mobile, in partnership with the Lagos State Government, plans to teach at least one million Lagos residents how to code by 2019. In line with the vision of the Code Lagos initiative, a coding centre has been launched in one of the company’s adopted schools, Rabiatu Thompson Primary School, Surulere, Lagos. Code Lagos […]
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The management of 9mobile has stated that Barclays Bank has not withdrawn as financial advisor of the 9mobile investment process. According to a statement released on its website, the company said the bank is committed to a speedy conclusion of the process. “Following recent press reports relating to Barclays Africa’s role as financial advisor on […]
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Ntel, Nigeria’s most advanced 4G/LTE broadband operator has announced a national roaming field trial with 9mobile. The operators have received regulatory approval from the Nigerian Communications Commission (NCC) to commence a national roaming trial over a two-month period. According to ntel, the agreement will enable ntel’s customers to make calls on 9mobile’s network using any […]
Read More The House of Representatives has mandated its Committee on Telecommunications to conduct investigation into the takeover of Etisalat by 9Mobile. The committee which is to report back to the House in eight weeks is to ascertain what led to the exit of Etisalat. The decision of the House followed the adoption of a motion on […]
Read More The Nigeria’s Central Bank Governor, Mr. Godwin Emefiele, on Tuesday said that the apex bank and the Nigerian Communications Commission, NCC intervention in the 9mobile loan saga, was due to the systemic importance of the company. He stated this while responding to questions from journalists shortly after the two-day Monetary Policy Committee meeting held at […]
Read More The Nigeria Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have registered their displeasure over the capacity with which Barclays Africa, the financial advisers handling the sale process of 9mobile, has managed the transaction. The two regulators, in a joint letter to GTBank, the facility agent for the 9mobile syndicated loan, Umar Danbatta, […]
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Nigeria’s Fidelity Bank has taken a 5 percent impairment charge on a ₦17.3 billion ($55 million) loan to Etisalat Nigeria, now called 9mobile, Fidelity Chief Executive Nnamdi Okonkwo said on Wednesday, in line with a Central Bank of Nigeria (CBN) request. Etisalat Nigeria took out a $1.2 billion syndicated loan from a group of 13 […]
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The Senate, yesterday, warned that about 4,000 jobs may be lost in the telecommunications industry, unless the relevant government agencies move swiftly to salvage the fallout of the takeover of 9mobile (Etisalat Nigeria), by 13 local banks. The Red Chamber has therefore called on all relevant financial intelligence agencies of the Federal Government to investigate […]
Read More The 13-bank consortium that raised about $1.2 billion for Etisalat Nigeria Limited (now 9mobile) in 2013 may have picked Barclays Bank to get new investors for the debt-laden firm, following their suspected link with Citigroup and Standard Bank earlier chosen for the role. Barclays was said to have started work on the mandate and is […]
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