Monday, October 20, 2025
30.4 C
Lagos

NCC Confirms 5 Bidders for 9Mobile

Prof. Umar Danbatta, Executive Vice-Chairman, NCC

The Nigerian Communications Commission (NCC) has confirmed the emergence of five bidders to take over 9Mobile, formerly Etisalat Nigeria.

Professor Umar Danbatta, the Executive Vice-Chairman of NCC who confirmed the development named the bidders as Smile Communications, Helios, Globacom, Airtel and Teleology Holdings Limited.

Danbatta said in a statement: “Five bidders have emerged for 9Mobile. They have been allowed to access the data room of 9Mobile in order to enable them access the financial situation of the company and subsequently make bids for the takeover of the company. But the takeover must be in a regulated manner. The CBN and NCC are supervising what is going on through an interim board jointly appointed by the NCC and CBN. We are going to do due diligence on the financial capacity of any potential bidder as well as the technical capacity. In the final analysis, we will like to see a 9Mobile taken over by a bidder who has the financial and technical capacity to improve on the operations of the telco and add value in delivery of qualitative telecom services in the country.”

The crisis in the then Etisalat Nigeria, now 9Mobile emanated from the inability of the company to repay a $1.2 billion loan it sourced from 13 Nigerian banks for purposes of network expansion.

spot_img
spot_img
spot_img

Hot this week

When Transparency Becomes Luxury: INEC and ₦1.5bn FOI Controversy

By Chike Walter Duru When the Independent National Electoral Commission...

Unity Bank Corpreneurship Challenge Beneficiaries Hit 578 as 30 More Winners Emerge

  No fewer than 578 young entrepreneurs across Nigeria have...

Polaris Bank Reinforces Commitment to Exceptional Customer Experience at Global Trade Forum in Ibadan

Chris Ofikulu, Executive Director, Retail & Commercial Banking, Polaris...

Fidelity Bank Bags Awards for Best Export, Trade Support and Innovation

  Fidelity Bank’s market leadership has been affirmed once again...

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Topics

Sovereign Trust Insurance Felicitates with ISAN on Confab

LR: Segun Bankole, DGM, Corporate Communications & Investor Relations,...

Fidelity Bank Trains 1,276 Women in Digital and AI Skills

As part of its commitment to empower women with...

Leadway: Customer Focus, Digital Channels to Drive Future Insurance Growth

Mr. Tunde Hassan-Odukale Managing Director/CEO Leadway Assurance Company Limited Leadway Assurance Company...

Samsung: Consolidating Electronics Market in 2013 for Global Leadership

  Samsung Galaxy Camera       Samsung Galaxy S111 Mini Samsung Electronics, the world's...

NSE Named Most Innovative Stock Exchange in Africa 2016

The Nigerian Stock Exchange (NSE) has emerged the Most...

AIICO Insurance Most Preferred Annuity Manager – Annuitants

AIICO Insurance Plc's customers have declared the company as...

First Bank Suffers 82% Drop in Profit, To Sack 1, OOO Staff

FBN Holdings Plc published its much awaited audited FY:2015...

Bureaux De Change Operators Promise Better Investors’ Confidence in Forex Market

The Association of Bureaux De Change Operators of Nigeria...
spot_img

Related Articles

Popular Categories

spot_imgspot_img