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Court Did Not Void Sale Of 9mobile

9mobile, Nigerian GSM telecommunications service provider, on Thursday said that the Federal High Court sitting in Abuja did not nullify the sale of the company to Teleology Nigeria Ltd.

Ore Olajide, 9mobile’s Company Secretary/Legal Adviser, said that online media reports that the Federal High Court, Abuja had nullified the sale was false.

He said that the court on April 1, 2019 made an order for parties to maintain status quo as at April 25, 2018 because as at the said date, EMTS (9mobile) was not a party to the suit before the court.

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“The sale of 9mobile to Teleology Nigeria Limited has not been nullified.

“The court made an order to maintain status quo as at April 25, 2018 when 9mobile was not a party to the suit and we have appealed the ruling as well as sought an injunction pending appeal at the Court of Appeal”.

“The action before Justice Binta Nyako of the Federal High Court is not about the sale of EMTS (9mobile) but rather, the transfer of the license even without locus standi, ” he said in a statement.

Olajide urged all subscribers and all stakeholders of 9mobile to remain calm as matters were under control.

He noted that the team of legal counsel were doing everything in their power to put everything in order.

Olajide said that 9mobile remained focused on providing best in class telecommunication services to its subscribers and would provide necessary updates in due course.

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The Federal High Court in Abuja had earlier warned the Central Bank of Nigeria (CBN), the Nigerian Communication Commission (NCC) and others involved in the transaction for the sale of troubled telecom firm, 9mobile against taking further steps to conclude the sale.

The warning was informed by claim by some aggrieved investors that despite a subsisting order of the court, made on October 10, 2018 by Justice Binta Nyako, barring parties to the transaction from taking further steps pending the determination of the suit, the CBN, First Bank and others have allegedly sold the firm and transferred its ownership.


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