9mobile has issued a strong disclaimer regarding its involvement in the ongoing N55 billion debt case involving Teleology Limited, its former minority shareholder.
The telecom company emphasized that it is not connected to the case filed by Keystone Bank against Teleology Limited and was not ordered by the court to cover any debt.
Recent media reports inaccurately linking 9mobile to this debt have been described by the company as false and defamatory, adversely affecting its reputation.
9mobile clarified that the debt case does not pertain to them, as their name was not mentioned in the court proceedings.
Since its acquisition in 2018 by Teleology Nigeria Limited, following a default under previous ownership, 9mobile has undergone significant changes.
Teleology made substantial payments to address previous debts but is no longer a majority shareholder.
9mobile is now under new ownership with a 95.5% controlling stake and is actively engaged in a business transformation while distancing itself from past legal issues involving Teleology.
