Emerging Markets Telecommunication Services Limited, operating under the trade name 9Mobile, has been acquired  by LH Telecommunication Limited. 

According to a statement issued on Sunday by the company, the acquisition of majority shares in the Nigerian telecom company was approved by the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) as required by law. 

The investment, which was approved by 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% of 9Mobile to the new investor in consideration for the injection of fresh capital into the company.

Pursuant to the injection of capital, the new investor nominated has appointed a new Board for the company. An accomplished and versatile entrepreneur with over 36 years of experience in strategic sectors of the African economy, Thomas Etuh, has been named as the new Chairman of 9mobile Board. Other Directors in the Board include Nahim Abe Ibraheem, and Femi Edun.