Close Menu
  • News
  • Politics
  • Business
  • Daily News Cover
  • Entertainment
  • Tech
  • More
    • Education
    • Opinion
    • Metro
    • Sports
  • Advert Rate
Facebook X (Twitter) Instagram
Trending
  • How I used car I won from talent show for transport business – Zlatan
  • Artists should not be defined by streams, charts – Blaqbonez
  • ‘It’s better than it has ever been’ – Blaqbonez on relationship with his dad
  • Bella Shmurda laments rising cost of music promotion
  • DJ Cuppy reflects on ‘tough reality check’ after Temi Otedola’s lavish wedding
  • UCL: He unlocks situation – Thierry Henry hails Arsenal’s Gabriel
  • UCL: Atalanta not about Lookman alone – Trpisovsky
  • UCL: Osimhen nets brace in Galatasaray’s 3-1 win against Bodo/Glimt
Facebook X (Twitter) Instagram
Daily News HubDaily News Hub
  • News

    UK cuts post-study work period for foreign students

    October 22, 2025

    Police Area Commander must be queried over my illegal arrest, detention – Ogun NUJ Secretary

    October 22, 2025

    Court fixes Oct 31 for judgment in suit seeking to stop 2025 PDP’s National Convention

    October 22, 2025

    Bauchi Gov signs law creating 13 new emirates

    October 21, 2025

    Don’t redesignate Nigeria country of concern, Kukah warns US

    October 21, 2025
  • Politics

    PDP National Chairmanship: Turaki gets Govs, Northern leaders’ endorsement, emerges consensus candidate

    October 23, 2025

    We can’t be gaslighted, all Senators, Reps should be our party members – APC National Secretary

    October 22, 2025

    Nigeria’s elections have improved since PDP’s tenure ended – Akpabio

    October 22, 2025

    Ahead PDP convention, Gbenga Hashim reconciles, rallies North Central chieftains

    October 22, 2025

    Ajadi showers praises on Kwankwaso on 68th birthday

    October 21, 2025
  • Business

    SWDC to deepen inclusion, support small businesses through cooperative societies

    October 22, 2025

    Tinubu’s presidential pardon can damage investors’ confidence – CPPE

    October 20, 2025

    Gas, Governance, and Greatness: Nigeria’s Charge to Lead Africa’s Energy Future

    October 18, 2025

    FG, states, LGs share N2.103tn in Sept 2025

    October 18, 2025

    Our operations have been sabotaged 22 times, says Dangote Refinery

    October 17, 2025
  • Daily News Cover

    Hardship: Again, World Bank warns Tinubu against reversing reforms

    October 17, 2024

    Hardship: Atiku, Obi swoop on Tinubu as First Lady defends hubby

    October 10, 2024

    Rivers’ Day of Rage!

    October 7, 2024

    Police, #FearlessInOctober protesters set for showdown today

    September 30, 2024

    Guber poll loss:Edo Govt House ‘deserted,’ Obaseki ‘disappears’

    September 26, 2024
  • Entertainment

    How I used car I won from talent show for transport business – Zlatan

    October 23, 2025

    Artists should not be defined by streams, charts – Blaqbonez

    October 23, 2025

    ‘It’s better than it has ever been’ – Blaqbonez on relationship with his dad

    October 23, 2025

    Bella Shmurda laments rising cost of music promotion

    October 23, 2025

    DJ Cuppy reflects on ‘tough reality check’ after Temi Otedola’s lavish wedding

    October 23, 2025
  • Tech

    AI in the workplace: Faleye advocates reinventing social protection

    October 12, 2025

    Offensive content: Nigeria shuts down over 13m TikTok, Facebook, Instagram, X accounts

    August 20, 2025

    ‘Sorry’ – Elon Musk apologises, addresses Starlink satellite global outage

    July 25, 2025

    Guideline violations: TikTok deleted 3.6m videos in Nigeria in Q1 2025

    July 16, 2025

    Bill Gates, Bosun Tijani, Ribadu, NITDA boss lead other experts to FIN-Web Conference on AI, cybersecurity, tech innovation at Silicon Valley

    June 19, 2025
  • More
    • Education
    • Opinion
    • Metro
    • Sports
  • Advert Rate
Daily News HubDaily News Hub
Home»Tech»UK’s LH Telecommunication acquires 95% stake in 9mobile
Tech

UK’s LH Telecommunication acquires 95% stake in 9mobile

Daily News HubBy Daily News HubJuly 28, 2024No Comments
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

A UK-based company, LH Telecommunication Limited, has acquired a majority stake in Emerging Markets Telecommunication Services Limited, the parent company of 9mobile.

According to a statement on Sunday by the company, the acquisition, approved by the Nigerian Communications Commission and the Federal Competition and Consumer Protection Commission, allows a new board to take over the struggling telecom operator.

Although the deal’s financial terms were not disclosed, the company indicated that the takeover is subject to regulatory approvals.

“The investment, approved by the 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,” the board said.

The new ownership structure is expected to bring stability and fresh investment to the company, enabling it to compete more effectively in Nigeria’s highly competitive telecom market.

The new board will be chaired by Thomas Etuh, with Nahim Ibraheem and Femi Edun joining as new members.

Additionally, the UK firm has nominated diverse individuals to the board, including a former senator, Daisy Danjuma, Michael Ikpoki, Ibrahim Puri, Gloria Danjuma, and Emmanuel Etuh.

Obafemi Banigbe was appointed the Managing Director and Chief Executive Officer to lead the company through its transition phase and drive its recovery.

The new CEO, Banigbe, whose appointment was previously announced a few weeks ago, is expected to bring his extensive experience at the C-suite level and a profound understanding of the African business landscape.

9mobile, formerly known as Etisalat Nigeria, was acquired by Teleology Holdings with high hopes of turning it around but has continued to struggle in the Nigerian market.

The operator has faced customer attrition, losing subscribers from its peak of 22 million in October 2016 to just over 15 million in November 2018.

Six years later, the operator trails behind with 11.7 million voice subscribers and 3.3 million internet users, according to the National Bureau of Statistics Telecoms Data released early this month.

(Punch)

Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Daily News Hub
  • Website

Related Posts

AI in the workplace: Faleye advocates reinventing social protection

October 12, 2025

Offensive content: Nigeria shuts down over 13m TikTok, Facebook, Instagram, X accounts

August 20, 2025

‘Sorry’ – Elon Musk apologises, addresses Starlink satellite global outage

July 25, 2025

Comments are closed.

How I used car I won from talent show for transport business – Zlatan

October 23, 2025

Artists should not be defined by streams, charts – Blaqbonez

October 23, 2025

‘It’s better than it has ever been’ – Blaqbonez on relationship with his dad

October 23, 2025

Bella Shmurda laments rising cost of music promotion

October 23, 2025

DJ Cuppy reflects on ‘tough reality check’ after Temi Otedola’s lavish wedding

October 23, 2025

UCL: He unlocks situation – Thierry Henry hails Arsenal’s Gabriel

October 23, 2025
About Us
About Us

Daily Newshub is a general interest online newspaper with bias for reporting the news behind the news cutting across Politics, Business, Economy, General Interests, Crime and Human Interest stories, Features/Opinions, City, Entertainment and Sports.

© 2025 Daily News Hub. All Rights Reserved. Designed by DeedsTech.
  • About Us
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.