9MOBILE OKAYS TELEOLOGY WITHDRAWAL
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Ife Adewole
9Mobile Board of Directors, gave reasons why it is good for them to have allowed Adrian Wood owner of Teleology Holdings Limited to stop been one of their stakeholders.
The Board of Directors, through the Regulatory and Corporate Affairs Director, Oluseyi Osunsedo made the statement in Abuja yesterday and alleged that Mr Wood failed in meeting up with the terms and conditions attached to the partnership contract agreed upon, most especially in terms of financial resources, presence in important decision making meetings and networking that will help promote the business while other shareholders endeavours to fulfill all the necessary obligations.
Osunsedo said, the board of directors has been taken decisions without the support of Mr.Wood since the commencement of the absorption of the company in November.
However, the board has been able to improved business relationships with suppliers, enhanced and revived relationships with key vendors and core business accounts, promote its core network capabilities to deliver network efficiency. “With the assistance of leading global consultants, the company is also undertaking a complete review of its operational, regulatory, financial and technical architecture,” He said.
He said as a result of this, 9mobile has arose from a period of insecurity over the past two years to reach an active subscriber base of 16 million, resulting to a net increase of over 1 million subscribers in the last 6 weeks.
“The company’s core strategy in the short to medium term shall be underpinned by cost efficiency, innovative product development, network efficiency and strategic technical partnerships. We believe that this approach towards organic growth is more sustainable in building a strong Nigerian telecom operator, which taps into the deep technical expertise of the Nigerian labour force than an approach motivated by short-term financial gain advocated by Mr. Wood and his associates,” He added.
He concluded on behalf of the board by wishing Mr Wood a good success in all his endeavours and assured the 9mobile subscribers, partners and stakeholders a reward and fulfilling transaction.
“While we wish him well in his future endeavors, we unequivocally assure our customers, suppliers, partners, regulators, and stakeholders that the Board is committed to continuing the upward mobility of 9mobile. Having invested so heavily in buying the company, and assembling a reliable team to pursue our goals, we want to categorically state that no distractions can stop us from this mission,” He assured.
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