9Mobile Sued By Investor Adrian Wood

  • 03,Feb 2019 04:58 AM
  • By Iwedi Ojinmah

Adrian Wood, one of the prominent investors in Nigeria's 9mobile deal, has sued the management and board of the company.

In an exclusive chat on Thursday, Wood said he has sued the board and management of 9mobile and the matter is pending in a Nigerian court.

“There is litigation pending on the matter,” he said when asked about his exit and the allegations made by the board of directors.

The 9mobile board alleged that the former MTN Nigeria chief was unable to make financial commitments during the process.

Three weeks ago, the board of directors of 9mobile described Adrian Wood as a minority stakeholder. The company also said the former MTN chief failed to meet certain obligations during the deal.

Oluseyi Osunsedo, 9mobile corporate officer, said Wood was not personally present for all the critical presentations made by the consortium during the bid process and failed abjectly with his financing arrangements with Swiss-based UBS Bank.

“In all these failings, other partners in the consortium filled the gap and pushed ahead until the sale was completed,” the statement added.


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