BusinessDay 07 Feb 2019

Page 1

Jimi Agbaje, PDP governorship candidate in Lagos State, addressing CEOs at the monthly breakfast session of the Lagos Business School, yesterday.

NEWS YOU CAN TRUST I **THURSDAY 07 FEBRUARY 2019 I VOL. 15, NO 241 I N300

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For 9mobile, pressure keeps mounting T I

NGUS JAN 29 2020 364.65

237,000 graduates in private-guard jobs buttress Nigeria’s precarious economy ... 2,004 are PGD, Masters Degree holders

JUMOKE AKIYODE-LAWANSON

t seems to be a neverending journey of turmoil for 9mobile, even after the telecommunications company has gone ahead to edge out Teleology Holdings Limited which may have prompted the company to sue the Nigerian business arm that has continued operations. 9mobile’s troubles began when it defaulted in the servicing of a syndicated loan of $1.2 billion owed a consortium of 13 Nigerian banks. In the aftermath, its erstwhile technical partners, Etisalat, exited the business and requested that the use of the “Etisalat” brand name by the company be discontinued immediately.

Continues on page 38

Misses payments on $251m AfreximBank loan As Teleology Holdings seeks legal redress, IHS threatens disconnection for indebtedness L-R: Ibrahim Boubacar Keita, president, Republic of Mali; Tony O. Elumelu, chairman, United Bank for Africa (UBA) plc, and Soumeilou Boubeye Maiga, prime minister, Republic of Mali, at the official launch of UBA in Mali, making it the 20th subsidiary of the pan-African bank in Africa.

IHEANYI NWACHUKWU he precarious state of Nigeria’s economy has further been exposed by 237,000 graduate and postgraduate citizens who, in a bid to eke out a living, took jobs as private security personnel. A private security officer is responsible for protecting their client from a variety of hazards (usually in the form of criminal acts). The security guards enforce company rules and can act to protect lives and property, and Continues on page 38

Inside Why US embassy drop box users now wait up to 30 days for visas P. 2


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BusinessDay 07 Feb 2019 by BusinessDay - Issuu