DAILY FILE, LAGOS – Contrary to claims by the opposition People’s Democratic Party (PDP) that President Muhammadu Buhari’s family has ownership of shares in the Etisalat Nigeria and Keystone Bank, a group of investors in Lagos state had declared that the sale of two companies followed due processes with the involvements of industries regulators.
The investors affirmed that neither President Muhammadu Buhari nor his family members own shares in either Etisalat or Key Stone Bank.
While condemning the false flag raised by the PDP, the group of investors led Mr. Michael Akekehgon, insisted that the process of selecting preferred bidders for Etisalat was opened and transparent. “For instance, after about a year of back and forth struggle, process of selecting a preferred bidder for the sale of 9Mobile, formerly Etisalat, the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) jointly, in their roles as regulators opted for an innovative approach to deal with a distressed company – 9mobile operated by Emerging Markets Telecommunications Services Limited (EMTS) which its predecessor, Mubadala Group, Etisalat International brand pulled out of the country due to massive debt,” he said.
Akekehgon, flanked by other investors, also noted that the CBN in collaboration with the NCC, had in July 2017 appointed a Board of Directors chaired by Dr. Joseph Nnanna, the Deputy Governor of the Central Bank of Nigeria, to oversee the affairs of the company pending the completion of regulatory due diligence of the bid documents submitted by Teleology and sixteen others for its acquisition.
He explained that Barclays Africa superintended the bid process, adding that there was no way the sale process could have been doctored has claimed by the PDP, because the entire procedures were opened and plain, hence, the emergence of Teleology Nigeria Limited, who has since completed payment of $301million to acquire 9Mobile. Akekehgon however, advised the PDP to approach appropriate agencies and verify the claims. “Whoever that is in doubt of the ownership structure of both Etisalat and Keystone Bank, have the liberty to verify his or her claim at the CAC,” he added.
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