Telecom
LH Telecoms, Nigerian Firm Acquires Majority Stake in 9mobile, Changes Board
LH Telecoms Limited, a Nigeria based company has acquired Emerging Markets Telecommunication Services Limited, operating under the trade name 9Mobile.
According to a statement issued on Sunday by the company, the acquisition of majority shares in the Nigerian telecom company was approved by the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) as required by law.
The investment, which was approved by African Export Import Bank (AFREXIM), the senior lender to 9Mobile in May 2023 has resulted in a change in control of 9Mobile in favour of the new investor by the issuance of new shares amounting to 95.5 per cent of 9Mobile to the new investor in consideration for the injection of fresh capital into the company.
Pursuant to the injection of capital, the new investor nominated the following persons to the board of directors of 9Mobile:
Thomas Etuh
He is the new Chairman of the Board. According to the company, Etuh is an accomplished and versatile entrepreneur with over 36 years of experience in strategic sectors of the African economy, including agriculture, fertilizer production, mining, banking, telecommunications, power and aviation.
“He is a passionate leader with a track record of successful corporate management, ensuring that clear objectives and expectations are delivered and sustained.
Mr. Etuh is the founder of the Tak Group of Companies. He previously served as the Chairman of the Board of Directors of Unity Bank Plc, Veritas Kapital Assurance Plc and Lighthouse Capital Limited. He is currently the Chairman of the Board of Notore Chemicals Industries Plc. As Chairman of Jennifer Etuh Foundation (JEF), he has championed several healthcare and life-empowering projects in the underserved regions of Nigeria,” the company stated.
Other Directors:
Nahim Abe Ibraheem: He has over 30 years of experience across finance, upstream and downstream oil trade, procurement, and manufacturing.
He began his career at Orbit Communications in 1990 and founded Soveran Nigeria Limited, a specialty procurement and petroleum product distribution company, in 1995.
- As Chairman of Euronat Nigeria Limited, he has overseen major oil product exports from the NLNG and NNPC. His notable roles include representing VShips Monaco S.A in Nigeria and advising Africa Merchant Bank ( a Fortis Bank Subsidiary) and Société Générale Bank France.
- Mr. Ibraheem serves as Chairman of the Boards of Veritas Kapital Assurance PLC and Lighthouse Capital Limited, as well as a Non-Executive Director of the VFD Group and Veritas Glanvills Pensions Ltd.
- He has sat on the boards of Morris Nigeria Limited and Superphosphate Fertilisers & Chemicals Limited. He is a member of the Institute of Directors (Nigeria) and PESA, and an avid sports fan.
Femi Edun: He is a financial services industry professional with over 35 years’ experience across assurance, consulting, credit ratings and research, investment banking and proprietary investment, from a variety of roles in Akintola Williams & Co (now Deloitte), Price Waterhouse, (now PricewaterhouseCoopers), Agusto & Co. Limited, Nigeria’s first credit rating agency and Frontier Capital Limited.
- He has been involving in notable pioneering initiatives in the financial services industry and several landmark transactions.
- Whilst serving as a volunteer adviser to the Federal Government, he was a non-executive director of the Bank of Industry.
- He is the Chairman of the board of Craneburg Construction Limited, independent non-executive director of Chevron Closed Pension Fund Administrators Limited and non-executive director of Notore Chemical Industries Plc and Agusto & Co. Limited amongst others.
Board members
Following the completion of the transaction, LH Telecommunication Limited has also nominated the following new members to the board of directors of 9Mobile:
Senator Daisy Ehanire Danjuma: She was elected as a Senator of the Federal Republic of Nigeria in 2003 where she served on numerous committees, most notably as Chairman of the ECOWAS Parliament’s Women and Children’s Rights Committee and Chairman Senate Committee on Women Affairs and Youth Development.
Following her legislative tenure, she held the position of Executive Vice Chairman of SAPETRO until December 2023 when she was appointed as the Executive Chairman. Senator Danjuma is the Chairman, Board of Trustees of the H I D Awolowo Foundation, a Member Board of Trustees of Women at Risk International Foundation (WARIF), the Chairman Board of Trustees of Lagos Public Interest Law Partnership (LPILP) and the Chairman of May & Baker Nigeria Plc.
- She worked as a State Counsel in the Lagos State Ministry of Justice (Department of Public Prosecutions) and was a pioneer Legal Counsel to the Legal Aid Council of Nigeria before working for the investment bank Nigerian Acceptances Limited (NAL Merchant Bank).
- She was Company Secretary/Legal Adviser to the Nigerian Television Authority (NTA) before moving into private practice.
- Senator Danjuma is a member of the International Bar Association (IBA), the Nigerian Bar Association (NBA) and the International Federation of Female Lawyers (FIDA). Senator Daisy Danjuma has also been awarded honorary doctorate degrees by the University of Ibadan, University of Benin and Redeemer’s University.
Michael Ikpoki: Michael Ikpoki is an accomplished Multinational Business Executive/Leader with over 25 year’s experience across regulatory, commercial, operational management/leadership and consulting/advisory roles in the African Telecom Industry.
- He was a former Chief Executive Officer of MTN Ghana and MTN Nigeria.
- He is Founder/Managing Partner of Africa Context Advisory Partners where he leads expert teams to consult on Telecom/ICT in Africa. He is Chairman of the Boards of Capricorn Digital Limited and Amplitude Telecoms Africa Limited.
- He is a member of the Boards of Telecel Group and Unilever Nigeria Plc.
Ibrahim Puri: Ibrahim Ajimasu Puri is a finance professional who possesses over 30 years of cognate banking experience encompassing operations, marketing, retail, corporate banking, and human resource management.
- He was an Executive Director with the United Bank for Africa (UBA), with responsibility for the bank’s operations in Northern Nigeria.
- He currently serves on the boards of several blue-chip companies in Nigeria including the Nigeria Breweries Plc and is Chairman of the Board of Redtech Limited, a member of the Heirs Holdings Group.
Gloria Danjuma: She is a dynamic and result-oriented professional with a proven track record of leadership and strategic vision across multiple industries. She has over 20 years of experience driving growth, maximizing shareholder value, and leading organisations through periods of transformation.
She is the current chairperson of NAL/Comet Group, Unitrust Insurance Limited and Wheatbaker Investment Properties Limited. She is also a Board Member of the TY Danjuma Family Office, Novotel Hotel Port Harcourt and a member of TY Danjuma Foundation Board of Trustees.
Emmanuel Etuh: He is a professional and business executive whose experience covers law, finance and operations across diverse industries. He currently serves as Executive Director, Corporate Services at Lighthouse Capital, overseeing the operational aspects of the business, including investments, client service, risk and technology.
He also serves on the board of Veritas Kapital Assurance Plc and Tak Agro & Chemicals Limited. He commenced his career at Banwo & Ighodalo and later served a stint at the International Bar Association, London.
He also served as a lead transactor at TMD Advisory Services focused on the origination, structuring and execution of financial advisory mandates in West and East Africa. He is the founding partner at Haute and Peers LP, providing strategic, corporate and commercial advice to technology, media and telecoms players in the Nigerian market.
The new Board has also also ratified the appointment of the new management team led by Obafemi Banigbe as the Managing Director and Chief Executive Officer of the Company to lead the Company through this transition stage and take it on the path of recovery.
Recall that 9mobile recently announced the appointment of Banigbe as CEO.
The reconstitution of the Board of Directors and the Executive leadership of the company has brought the 9mobile transformation programme to a momentous phase in readiness to compete strongly in the market.
The Nigerian Communications Satellite Limited (NIGCOMSAT) has unveiled Accelerator Cohort 3.0 as part of efforts to strengthen Nigeria’s space technology ecosystem and support the growth of local startups.
The initiative will be a major highlight of the 2026 Nigerian Satellite Week scheduled to hold on March 30 and 31 in Abuja, where key players in the satellite and digital infrastructure sectors are expected to converge.
In a statement signed by Stephen Kwande, the Head of Corporate Communications, the company described the new accelerator as its most direct investment in building long-term competitiveness within Nigeria’s space economy.
According to NIGCOMSAT, the programme is designed to support early-stage ventures working across satellite applications, last-mile connectivity, agriculture, logistics and other areas where space-based technology can drive impact.
The company said previous cohorts of the accelerator had already contributed to developing innovative solutions and building the human capacity needed to position Nigeria for the next phase of the global space industry.
“With Cohort 3.0, we are making it clear that the accelerator is not a pilot project but a permanent feature of how Nigeria develops its space-tech companies,” the statement said.
NIGCOMSAT noted that the Nigerian Satellite Week has grown into a major platform for policy discussions, partnerships and investment in the sector.
The 2026 edition is expected to attract top government officials, defence leaders, development finance institutions and technology entrepreneurs from across Africa.
Jane Egerton-Idehen, managing director of NIGCOMSAT, said the event also marks two decades of Nigeria’s journey in the space economy.
“Twenty years ago, Nigeria took a bold step to secure its place in space. What we are seeing today is the result of consistent effort and vision,” she said.
She added that the company is focused on shaping the next phase of growth through innovation, partnerships and investment in local talent.
NIGCOMSAT also highlighted recent milestones, including a Low Earth Orbit connectivity partnership with Eutelsat, improved revenue performance and increased global recognition in satellite operations.
Other activities lined up for the event include a Startup Demo Day, where selected African startups will pitch their ideas to investors, and a stakeholders’ forum to discuss policies and infrastructure needed to scale Nigeria’s satellite economy.
The company said the initiative reflects the growing role of satellite technology in national development, particularly in areas such as communications, security and digital services.
NIGCOMSAT, established in 2006 and wholly owned by the Federal Government, provides satellite-based services including telecommunications, broadcasting and broadband across Nigeria and parts of Africa.
The Federal Government has unveiled a N12bn Digital Economy Research Fund aimed at strengthening evidence-based policymaking and supporting Nigeria’s long-term digital transformation agenda.
Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, disclosed this in a statement issued on Saturday, announcing the launch of an expression of interest for the National Digital Economy Research Clusters.
“Today my heart is filled with deep joy as we announce the Expression of Interest for the National Digital Economy Research Clusters, a N12bn research funding scheme designed to place ideas, evidence, and research at the centre of Nigeria’s digital transformation,” the minister said.
According to him, the programme is being funded under Project BRIDGE, a federal initiative to deploy 90,000 kilometres of fibre optic backbone infrastructure across Nigeria to expand connectivity and enable a modern digital economy.
“This programme is being funded under Project BRIDGE, our initiative to deploy 90,000km of fibre optic backbone infrastructure across Nigeria to expand connectivity and enable a modern digital economy,” he said.
The minister noted that as the government expands digital infrastructure nationwide, research-backed approaches are required to ensure inclusive benefits.
“As we deepen our digital infrastructure coverage, thoughtful, evidence-based approaches are required to be deployed in society to ensure everyone benefits from this significant investment,” he added.
He observed that digital policy decisions are often shaped by market forces and political cycles rather than rigorous research and long-term thinking. “Too often, the ideas shaping digital policy come predominantly from markets and political cycles rather than from research, evidence, and long-term thinking,” the statement said.
Under the initiative, six national research clusters will be established across key pillars of the digital economy, including connectivity and meaningful use; digital public infrastructure and government services; digital skills and human capital development; digital economy and jobs; online trust and consumer protection; as well as artificial intelligence and emerging technologies.
The clusters will be led by up to 36 professors drawn from Nigerian universities, working alongside international academic partners, with more than 200 researchers, including postdoctoral fellows and PhD candidates, expected to generate policy-relevant research.
“For me, the goal goes beyond research output. We are looking for better policies that lead to stronger institutions and a more prosperous society,” the minister said.
He described the initiative as one of the ministry’s most meaningful programmes, noting that it is intended to produce ideas that will outlast any single administration. “Because nations that lead the future are not simply those that deploy infrastructure; they are the ones that cultivate ideas,” he said.
The ministry invited academic and research institutions interested in participating to review the Terms of Reference released alongside the EOI and submit proposals to lead or collaborate within the national research clusters.
It added that a press conference would be held in the coming week to provide further details and engagement opportunities for vice-chancellors and research institutions across the country.
Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to compensate subscribers experiencing poor network service across the country.
The Commission said the directive was part of efforts to ensure that consumers are not made to bear the burden of service failures when operators fall short of required standards.
Under the new regulation, telecom operators will be required to provide compensation directly to affected subscribers for breaches of Quality of Service (QoS) Key Performance Indicators (KPIs).
According to the NCC, the compensation will be issued in the form of airtime credits, calculated based on subscribers’ average usage and their presence within specific Local Government Areas where service disruptions occur.
The Commission emphasised that telecommunications services remain critical to economic activities, social interactions, and access to digital opportunities, noting that poor service delivery negatively impacts productivity and public confidence.
It explained that while regulatory fines have traditionally been used to sanction operators, the new approach prioritises consumer protection and strengthens accountability within the telecommunications sector.
The NCC added that the measure would complement existing efforts to monitor service quality and enforce compliance with performance standards.
In addition, the Commission directed tower companies responsible for telecom infrastructure, such as network masts, to reinvest fines imposed on them into infrastructure upgrades with measurable outcomes.
The regulator reiterated its commitment to ensuring that operators invest in network resilience, expand capacity, and improve infrastructure to meet growing demand.
It also pledged to continue deploying regulatory mechanisms that promote fairness, transparency, and accountability across the industry, while ensuring that subscribers receive the quality of service they deserve.
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