…Wants party, others to verify ownership structure at CAC

Due to incessant allegation by the Peoples Democratic Party (PDP) that President Muhammadu Buhari’s family has ownership of shares in the Etisalat Nigeria and Keystone Bank, a group of investors in Lagos State, under the leadership of Mr. Michael Akekehgon, has condemned the claim, saying sale of both institutions followed due processes with the involvements of industry’s regulators.

For instance, after about a year of back and forth struggle, process of selecting a preferred bidder for the sale of 9Mobile, formerly Etisalat, the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) jointly, in their roles as regulators, opted for an innovative approach to deal with a distressed company – 9mobile operated by Emerging Markets Telecommunications Services Limited (EMTS) which its predecessor, Mubadala Group, Etisalat International brand pulled out of the country due to massive debt.

Speaking further, the serial investor, Mr. Akekehgon told The Daily Times that the CBN in collaboration with the NCC, had in July 2017 appointed a Board of Directors chaired by Dr. Joseph Nnanna, the Deputy Governor of the Central Bank of Nigeria, to oversee the affairs of the company pending the completion of regulatory due diligence of the bid documents submitted by Teleology and sixteen others for its acquisition. He explained that Barclays Africa superintended the bid process, adding that there was no way the sale process could have been doctored as claimed by the PDP, because the entire procedures were open and plain, hence, the emergence of Teleology Nigeria Limited, who has since completed payment of $301 million to acquire 9Mobile.

He, however, advised the aggrieved persons, group or political parties to approach appropriate agencies to verify their claims.

“Whoever that is in doubt of the ownership structure of both Etisalat and Keystone Bank, have the liberty to verify his or her claim at the CAC.

“In fact, the last payment of $251.1 million to complete the total sum of $301 million to perfect the full takeover of the mobile network operator was sourced from Afreximbank,” he said.

The new owner of 9mobile had said: “Teleology is pleased to announce the constitution of a new Board of Directors for Nigeria’s multi-award-winning telecommunication company, 9mobile, following the successful completion of the tenure of the former Board appointed by the Central Bank of Nigeria (CBN) and in fulfillment of the consequential transfer of final ownership to the new investors, Teleology Nigeria Limited.” “We thank all out-going members of the Board for helping to shepherd 9mobile through the critical transition phase it has passed through since July 2017 and wishes them the very best in their future assignments.

“For us, the composition of the new Board of Directors is another significant milestone, and this follows the issuance of final approval of no objection by the Board of the Nigerian Communications Commission (NCC) to the effect that the technical and financial bids Teleology submitted for 9mobile met and satisfied all the regulatory requirements. This is indeed the dawn of a new era in the evolution of the 9mobile brand in the Nigerian market”, it added.

The new Board of Directors of the telecommunication company are Nasiru Ado Bayero, Chairman; Asega Aliga, Non-Executive Director; Adrian Wood, Non-Executive Director; Mohammed Edewor, Non-Executive Director; Winston Ndubueze Udeh, Non-Executive Director; Abdulrahman Ado, Executive Director and Stephane Beuvelet, Acting Managing Director.

Similarly, the new owners of Keystone Bank who were referred as a Consortium of local investors called Sigma Golf Nigeria Limited and Riverbank Investment Resources announced transitional governance arrangement that include new Board Chairman; Acting Managing Director/CEO; Executive Director and two Non-Executive Directors. The lender, which had since 2017 handed over officially to its new owner by the Asset Management Corporation of Nigeria (AMCON), has since named transition board team including new Board Chairman, Alhaji Umaru H. Modibbo, Hafiz Bakare, a Non-Executive Director; Titilayo Tairat Adebiyi; Mr. Dan-Habu, and Mrs. Isichei who was the then Executive Director in-charge of Operations and Technology at Keystone Bank Limited.


For More, visit

https://dailytimes.ng/etisalat-keystone-bank-shareholding-investors-slam-pdp-over-false-claim/

The pdp¡gs are yet to bring out any valid evil deed committed by buhari
Anything they say is proved wrong
But, we have loads, carts, trucks, tippers, containers and ships of Atiku`s crimes against the Nigerian citizenry

Indeed Atiku is for the goats

Is this how they want to start the year?

He, however, advised the aggrieved persons, group or political parties to approach appropriate agencies to verify their claims.

“Whoever that is in doubt of the ownership structure of both Etisalat and Keystone Bank, have the liberty to verify his or her claim at the CAC.

We are still waiting for the evidence that Atiku and PDP will provide to support their allegations 1week later and still counting.

The same way they lied that Davido and dancing school certificate cheating Sen Adeleke, had their bank accounts frozen.

The same way they lied that Peter Obi's account was frozen.

They complain about trader-moni initiative of N10k as worthless to the masses, but they shared Dasuki-moni initiative of over $2b security funds among the likes of Bafarawa, Olisa Metuh, Anenih, FFK, Jumoke Akinjide, Nduka Obiagbena etc, without even giving N1k to the masses who are in need of a lifeline.


They keep on lying but God has forever delivered Nigeria from the kleptomaniac hands of PDP, we will never return backwards to Egypt when many other options are on offer as we move forward.

Okay.



Anyway, if you want to learn how to attract money, check my signature.

The deal was anonymously done...


Stupid fellows

It is only the gullible and moronic Idiotic Pigs of Biafra that believe that crap in the first place. I wonder why objective reasoning is so alien to them. No wonder Kanu was able to brainwash them easily with empty promises. Moronic Zombies.

Simple question is, name the Buhari's family members that own the companies, they can't respond.

Infact Buhari's family also own Amazon, Microsoft and Google sef.

Second base abeg...

Why won't atiku make such foolishly baseless accusation when a deranged chief pig could say Buhari is dead and has been replaced by one jubrin and the unintelligent pigs and idiots took it as a scientific revelation? As it is now, the pigs are still sucking atiku's balls for such a wonderful revelation. Honestly, it really sucks to be pigs.

There's a popular Yoruba adage that says someone who has a habit of lying will also have a habit of stealing. That perfectly describes Atiku and PDP.

The mastobators, idiotic pigs of Biafra, will stay away from this thread.
To them, Atiku has won the election through the imaginary share and like on Nairaland.

Publicly release the names of those who are shareholders, let the masses be the judge.

PDP are good in spreading fake News

The only crime of Buhari is underperforming (not able to achieve all his campaign promises) but he has done better with limited resources.

drey076:
The mastobators, idiotic pigs of Biafra, will stay away from this thread.

this is new year oh

drey076:
The mastobators, idiotic pigs of Biafra, will stay away from this thread.

this is new year oh

Yusuf54:
PDP are good in spreading fake News

They’re bastards

The foolish slaves of perdition and cownurdry will hide their smelly faces from here.

Anyone still believing anything from PDP is morally bankrupt as a person.

Atiku should visit America if it is sure for him.

end time for PDP, got nothing to offer than rubbish

We Arent Fools.They Could Own Them By Proxy.Its The M O Of The Buhari Family

All of you chanting sai baba because of #30,000 that can't recharge the phones of these politicians' girlfriends, should think about your unborn children, and what the future holds for us. Also think about the millions who go to bed hungry because of the state of things right now in this country. Like Esau, don't sell your birthright for a pot of porridge!

Pigs of redmud land


any comment ??

Gabriel004:
Atiku should visit America if it is sure for him.

tell them oo

Who take PDP and wailers serious again ... Oga we Don move to the next level

Sai Baba Buhari

FuukaFuuka:

... If PDP tells you "good morning" , go outside and confirm yourself. They are born to lie...

Atiku is bad business wallahi

We know them to be people who are not ready to kiss the truth . The more they try destroy Buhari, the more the plans work against them.