Emerging Markets Telecommunications Limited, widely known as 9Mobile, has strongly refuted claims of its involvement in a recent court case concerning a N55 billion debt to Keystone Bank. The mobile network operator issued a statement on Tuesday, July 23, 2024, addressing what it described as false and defamatory reports circulating in various media outlets.
The company’s management stated, “Our attention has been drawn to a wave of syndicated media publications dated Friday 19, July 2024 with the same copious headline, ‘Court orders 9mobile to pay N55 billion debt to Keystone Bank.'”
Clarifying its position, 9Mobile said, “Emerging Markets Telecommunication Services Limited (EMTS), trading as 9mobile was neither a party to any suit nor affected by the order said to have been made against it as an entity.”
The telecom company further explained that the legal action in question was correctly filed as “Keystone Bank v. Teleology Nigeria Limited,” highlighting that 9Mobile was not directly involved in the proceedings.
“No judgment was made against 9mobile and the attempt to link its corporate entity with a transaction by its minority shareholder, Teleology Nigeria Limited in its legal tussle with Keystone Bank, is false and maliciously misleading,” the statement noted.
9Mobile also took the opportunity to clarify its current ownership structure, noting, “9Mobile is under new ownership with a 95.5 per cent controlling stake in the business and has not been found liable for the action of its minority shareholder in the suit in question.”
The company expressed concern about the potential impact of such reports on its reputation, stating, “The said story is not only false but also defamatory in its effect on the 9mobile corporate reputation.”
Looking ahead, 9Mobile affirmed its commitment to growth and market presence: “Our business transformation programme has commenced and we are poised to reclaim our place in the market.”
