9mobile at the weekend said it is not shutting down its operations in Nigeria even as the crisis over its ownership rages.
Abubakar Funtua, son of the late business mogul, Isa Funtua, had early this month sued Hayatu Hadejia and Seltrix Limited at the Federal High Court in Abuja over the ownership and control of Emerging Markets Telecommunications Limited, which operates under the brand name 9Mobile.
He also sued, among other defendants, Nigeria’s former Chief of Army Staff, Theophilus Danjuma, along with his company, LH Telecommunication Limited.
Others included in the suit are Seltrix Limited (named as the 1st defendant), the Corporate Affairs Commission (CAC), the Nigerian Communications Commission (NCC), Mr Hadejia, Teleology Nigeria Limited, and Mohammed Edewor, a director at Teleology Nigeria Limited.
The plaintiff urged the court to declare he is the beneficial owner of the N43 million ordinary shares held in trust for him by the 1st defendant, Seltrix Limited, in the capital of the 3rd defendant, Teleology Nigeria Limited.
Other prayers sought by the plaintiff are a declaration that the acquisition of the N43 million ordinary shares purportedly transferred or surrendered to the 3rd defendant (Teleology Nigeria Limited) in breach of the 1st defendant’s (Seltrix Limited) duty as trustee of the plaintiff and in contravention of Clause 48 of the Memorandum and Articles of Association of the 1st defendant (Seltrix Limited) is null, void and of no effect.
“That the purported registration of the transfer by way of surrender/gift of N43,000,000 ordinary shares held by 1st defendant (Seltrix Limited) in the capital of the 3rd defendant (Teleology Nigeria Limited) is unlawful, null and void,” the plaintiff stated.
Before the crisis was blown open via the lawsuit, the telecom operator had been struggling to stay afloat as its network deteriorated. That made many of its customers to move to other operators.
But 9mobile in a statement dismissed shutdown rumours, saying it is entirely baseless and aimed at causing unnecessary panic among its valued subscribers.
“We understand that some customers have recently faced challenges, particularly with Mobile Number Portability (MNP), a service that enables seamless network switching. We want to clarify that 9mobile has never restricted customers from porting to other networks.
“We remain fully compliant with industry regulations and committed to delivering fair, transparent, and customer-focused services. While there have been temporary technical challenges affecting MNP, these issues have now been largely resolved.
“Some minor delays may still occur due to ongoing system optimisations, but we are actively working to ensure a smoother experience for all users.
“As a proudly Nigerian brand, we embody the resilient spirit of our people and remain steadfast in our commitment to overcoming challenges. We acknowledge the temporary service disruptions some customers may have experienced in different locations.
“However, we assure you that these disruptions are part of a broader transformation effort aimed at modernising our infrastructure and improving overall service quality.
“Our ongoing investments in network upgrades and service expansion will soon yield significant improvements, ensuring reliable connectivity for individuals, businesses, and communities.
“We sincerely appreciate the patience and loyalty of our subscribers during this transition. While challenges exist, we are making significant progress and are confident that brighter days are ahead. We remain dedicated to providing exceptional service and keeping you connected to limitless opportunities.
Thank you for your continued trust in 9mobile”, the statement said.
9mobile, which started operations in Nigeria in 2008 with 0809 number plate as Etisalat, plunged into deep financial crisis nine years after when it could not repay $ 1.2 billion loan it took from a number of local banks.
The UAE-based company thereafter terminated a management agreement with its Nigerian arm and exited the country in 2017.
This is after an intervention by some Nigerian regulators like NCC and CBN to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate the $1.2 billion loan failed.
Etisalat Nigeria was the biggest foreign-owned victim of dollar shortages that plagued the country due to lower oil prices and economic recession, leaving the company struggling to make repayments to lenders and suppliers.
It took out a $1.2 billion loan with 13 local lenders in 2013 to refinance an existing loan and fund expansion, but struggled to repay four years later.
South Africa’s MTN is the biggest player in Nigeria’s telecoms industry, while 9mobile has been struggling to stay afloat, especially after Nigeria’s economy nosedived.