9mobile Refutes Allegations of Court-Ordered Debt Payment to Keystone Bank

Segun Atanda/

9mobile, officially known as Emerging Markets Telecommunication Services Limited (EMTS), has denied any involvement in a recent court order directing the payment of N55 billion to Keystone Bank.

The management of 9mobile issued a press statement at the week­end to address what it described as misleading media publications that incorrectly implicated the company in a legal dispute.

According to the statement, the reports falsely claimed that 9mobile was ordered to settle a significant debt with Keystone Bank. The management clarified that 9mobile was neither a party to the suit nor affected by the court order. The legal action in question is titled “Keystone Bank v. Teleology Nigeria Limited,” indicating that the lawsuit was directed at Teleology Nigeria Limited, a minority shareholder in 9mobile, and not 9mobile itself.

9mobile emphasized that the erroneous reports are defamatory and damage the company’s corporate reputation. The company reiterated that it holds a 95.5% controlling stake under new ownership and has initiated a business transformation programme aimed at regaining its market position.

The management of 9mobile urges the public and stakeholders to disregard the misleading headlines and reassures that the company remains committed to its operational integrity and growth.