Nigerian Communications Commission (NCC) may have succumbed and approved the sale of 9Mobile to Teleology Holdings Limited after several efforts to truncate the process.
The handover of 9Mobile to Teleology has been embroiled in claims and counter charges as NCC and other contending parties haggle over the structure, financial capability and technical know-how of Teleology to run one of the largest mobile networks in Nigeria.
Some of the issues that delayed the approval of the sales included: government bureaucracy following NCC’s sore-footedness in issuing approval letter of ‘No Objection’.
Also, Prof. Umar Danbatta, executive vice chairman, NCC, explained that the delay in the conclusion of the sales of 9 mobile was as a result of 9 mobile debt to the commission.
NCC said the mobile network was indebted to the tune of over N15 billion in Annual Operating Level (AOL), fees and numbering fees and that 9mobile had paid about N7 billion out of it as a commitment.
In addition, some aggrieved shareholders of 9mobile instituted a case over the sale of the mobile network.
The shareholders – Afdin Ventures Limited and Dirbia Nigeria Limited, warned the Central Bank of Nigeria, Nigerian Communication Commission and others to halt the sale of the telecommunication firm.
And despite assurances by Adrian Wood, one of the promoters of Teleology of the firm’s financial capability and readiness to revive 9Mobile, it appeared there were some unseen political hands out to frustrate the sales.
NCC claimed it was conducting another round of due diligence on the preferred bidder even when it did not release its first technical appraisal.