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LH Telecoms, Nigerian Firm Acquires Majority Stake in 9mobile, Changes Board

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LH Telecoms Limited, a Nigeria based company has acquired Emerging Markets Telecommunication Services Limited, operating under the trade name 9Mobile.

LH Telecoms, UK Firm Acquires Majority Stake in 9mobile, Changes Board

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.

 

 


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Telecom

No Plans for Fresh Tariff Hike – MTN

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Dr Karl Toriola, chief executive officer, MTN Nigeria, has assured its subscribers that another telecom tariff increase is not imminent.

No Plans for Fresh Tariff Hike - MTN

Dr Karl Toriola, chief executive officer, MTN Nigeria

He also clarified his recent comments on unlimited mobile data, saying they were taken out of context.

Toriola who spoke during an interview on TVC’s Beyond the Headlines, said his remarks at MTN’s Data on Trial public engagement were intended to explain the technical limitations of mobile networks rather than suggest that consumers could never access unlimited data.

According to him, excerpts of his comments circulated online did not reflect the full context of the discussion.

“People took snippets of the conversation, and the entirety of the conversation is available on YouTube. There’s nothing to be hidden there, and they took it slightly out of context,” he said.

Toriola explained that mobile networks are constrained by finite spectrum resources, making unrestricted data usage technically impossible without affecting the quality of service for other subscribers.

“Mobile wireless technology to offer data is limited by one factor—spectrum—and spectrum is a finite resource. You cannot put an excessive load of data traffic onto a mobile network without having a degradation of the quality of service for other people,” he said.

He added that while many telecom operators market data plans as unlimited, such packages are generally governed by fair usage policies, under which internet speeds are reduced after subscribers exceed specified usage thresholds.

Toriola said MTN is working towards introducing similar products but noted that they would also be subject to fair usage limits to protect network quality.

Addressing concerns over rapid data depletion, the MTN chief executive said operators do not deliberately consume customers’ data, attributing much of the usage to background activities such as automatic cloud backups on applications including WhatsApp, Google Cloud and iCloud.

“A significant amount of data that’s consumed on your handsets is done without your realisation,” he said.

He advised subscribers to review their device settings and configure cloud backups to run only over Wi-Fi or at less frequent intervals.

To illustrate the point, Toriola said an audit of the phone of one of MTN’s chief officers, who had complained about unusually high data usage, revealed that WhatsApp was automatically backing up about 120 gigabytes of data.

On telecom pricing, Toriola said another tariff increase is not expected in the near term, although future reviews would depend on prevailing economic conditions and the cost of sustaining network operations.

“The increment is not imminent. But over time, depending on economic conditions, there might be possible tariff increases,” he said.

He maintained that the tariff adjustment implemented in 2025 was necessary to ensure the sustainability of the telecommunications industry after more than a decade without a price review despite rising operating costs.

Toriola also disclosed that MTN invested ₦390 billion in capital expenditure during the first quarter of the year, exceeding its ₦359 billion profit after tax for the same period.

He identified fibre cuts, vandalism, unreliable electricity supply and restricted access to telecom infrastructure as major factors affecting service quality.

“We have more fibre cuts in a day than the whole Kingdom of Saudi Arabia has in a year,” he said.

Responding to calls for sanctions against MTN over recurring xenophobic incidents in South Africa, Toriola said MTN Nigeria is a Nigerian company in ownership and operations, noting that it is listed on the Nigerian Exchange, has only four expatriates in its workforce and has millions of Nigerian shareholders through direct investments and pension funds.

“We unequivocally condemn any form of xenophobia, any form of violence, any form of attacks against any community in the world,” he said.


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Airtel Africa Foundation Equips 200 Young Women with Digital Skills to Drive Nigeria’s Tech Economy

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Airtel Africa Foundation, through Airtel Nigeria and in partnership with the Ishk Tolaram Foundation, Co-Creation Hub (CcHub), and SAIL Innovation Lab, has commenced the DigiLeap Women in Tech Programme, a transformative initiative designed to equip 200 young women from underserved communities in Ikorodu, Lagos, with industry-relevant digital skills and pathways into Nigeria’s rapidly expanding technology sector.

The programme, hosted by the SAIL Innovation Lab Ikorodu, comprises a 12-week immersive learning experience from June to September 2026, designed to prepare participants for careers in Product Design, Software Development, Digital Marketing, and Data Analytics.

Beyond technical training, beneficiaries will receive leadership development, structured mentorship from Airtel Nigeria professionals, and internship opportunities that provide practical workplace experience and exposure to industry best practices.

Commenting on the programme kick-off, Segun Ogunsanya, Chairman of the Airtel Africa Foundation, said empowering young women with digital skills represents one of the most sustainable investments in Africa’s future.

He also noted that the initiative reflects Airtel Africa Foundation’s continued commitment to expanding access to digital education while creating opportunities for young Africans to participate meaningfully in the continent’s digital transformation.

“We encourage every participant to approach this programme with purpose, discipline, and curiosity. The knowledge, networks, and mentorship you gain over the coming weeks have the potential to transform not only your own future but also the lives of your families, communities, and the next generation of girls who will look up to you. This is how lasting impact is created,” Ogunsanya said.

Also speaking on the initiative, Dinesh Balsingh, Chief Executive Officer of Airtel Nigeria, highlights that the initiative aligns with the company’s commitment to building an inclusive digital economy by ensuring more young Nigerians, particularly women, are equipped for the jobs of the future.

Balsingh said, “Nigeria’s digital economy presents enormous opportunities, but participation must be inclusive if we are to realise its full potential. Through the Airtel Africa Foundation, we are intentionally investing in young women because we recognise the immense value they bring to innovation, technology, and economic growth.

“DigiLeap is designed to equip participants with practical, industry-relevant skills that employers are looking for today while also giving them the confidence, mentorship, and professional exposure needed to build successful careers.”

According to the DigiLeap curriculum, participants will engage in intensive classroom instruction, hands-on projects, mentorship sessions, and internship placements designed to bridge the gap between learning and employment.

Airtel Nigeria professionals will serve as mentors, providing career guidance and sharing real-world industry insights to help participants transition successfully into the technology workforce.

The DigiLeap Women in Tech Programme spotlights the Airtel Africa Foundation’s growing investment in digital inclusion and youth empowerment across Africa. By creating pathways for more women to access technology careers, the Foundation continues to contribute to Nigeria’s digital transformation agenda while helping build a diverse pipeline of talent capable of driving innovation, creating businesses, and shaping the future of the country’s digital economy.


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Xenophobia: MTN Nigeria Belongs to Nigerians, Not Only South Africans — Toriola

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Karl Toriola, chief executive officer, MTN Nigeria, has stated that the telecom company is “a Nigerian company through and through,” emphasising that it belongs as much to Nigerians as to its global investors, with over 11 million Nigerians holding indirect stakes through pension funds.

Xenophobia: MTN Nigeria Belongs to Nigerians, Not Only South Africans — Toriola

Toriola also defended the federal government’s approval of telecom tariff adjustments, noting that the move helped prevent a financial crisis in the sector and enabled the company to ramp up capital expenditure to about N1 trillion in 2025 to improve network quality.

Speaking during an interview on Arise News, the MTN boss dismissed claims that the company is solely South African, despite its origins.

According to him, MTN Nigeria is incorporated locally, listed on the Nigerian Exchange, pays taxes in Nigeria, and is largely managed by Nigerians.

“We are labelled as a South African company because MTN Group was founded in South Africa. But the reality is that MTN Group has a very diverse global shareholding. Only about 50 percent of the shareholding is African, while the rest is held by investors from North America, Europe, the United Kingdom, the Middle East and Asia-Pacific,” he said.

Speaking further on MTN Nigeria’s identity, Toriola stressed the company’s deep roots in the Nigerian economy.

“MTN Nigeria is a Nigerian company through and through. We are domiciled in Nigeria. We are listed on the Nigerian Exchange. We pay all the taxes, duties and levies expected of us, and we are run by Nigerians.

“I am Nigerian. Apart from one executive, every member of our executive committee is Nigerian, while our entire expatriate workforce in Nigeria is just four people.

“We have over 201,000 retail investors, while about 11 million Nigerians own MTN shares indirectly through pension funds. We are very proud of our Nigerian identity,” he stated.

On the recent telecom tariff adjustment, Toriola said the increase was driven by necessity rather than profit motives, noting that operators were struggling to meet basic financial obligations before the review.

“People perceived the tariff increase as an aspiration for profitability, but the reality was that we were on our knees financially. We couldn’t even pay our month-to-month bills with the revenues we were generating. The tariff adjustment was an absolute necessity. It enabled us to stay alive,” he said.

He added that the improved revenue base has enabled MTN to scale up infrastructure investments to enhance service delivery.

“In the first quarter of this year alone, we spent N390 billion on capital expenditure, compared with a profit after tax of N359 billion. That shows our commitment to improving quality of service,” he said.

Addressing concerns over poor network quality, Toriola attributed the challenges to increasing demand, infrastructure gaps, vandalism, insecurity, and unreliable power supply.

“There are people who deliberately pour petrol into our manholes and set them on fire. A single incident can knock out services for millions of subscribers. We also face security challenges that prevent our engineers from quickly accessing some sites.

“In addition, we operate about 18,000 sites nationwide, each requiring generators, batteries, rectifiers and constant fuelling because of inadequate public electricity supply. All these affect quality of service,” he explained.

While acknowledging that service quality still needs improvement, he assured customers of continued investment.

“We are not perfect, but we are investing aggressively and continuously striving to do better,” he added.

On allegations that telecom operators deliberately deplete customers’ data, Toriola said findings often point to background data usage by smartphone applications.

“There is a perception that MTN goes and takes customers’ data, but our studies have shown repeatedly that background applications are consuming much of that data.

“I encourage customers to check their device settings. Daily automatic backups are unnecessary for many users. If possible, carry out backups over Wi-Fi instead of mobile data,” he advised.


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