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Home Business

Buhari has no interest in Keystone, Etisalat –Investor group

Wants PDP, others to verify ownership at CAC

31st December 2018
in Business
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A group of investors in Lagos State has denied claims that members of President Muhammadu Buhari’s family own shares in Etisalat Nigeria and Keystone Bank, declaring that the allegation was false.

Also, the group said the sale of both companies followed due process, with the involvement of industry regulators, while members of the board of directors are known.

The denial is coming on the heels of allegation by the Peoples Democratic Party (PDP) that Buhari’s family members have shares in the communication company and the bank.

A statement by the group’s leader, Michael Akekehgon, said the investors had said during the selection of a preferred bidder for 9mobile, formerly Etisalat, that the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) “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.”

READ ALSO FAAC: FIRS remits N4.63tr into federation account

He said CBN, in collaboration with NCC, in July 2017 appointed a Board of Directors chaired by Dr. Joseph Nnanna, the Deputy Governor of CBN, to oversee the affairs of the company, pending the completion of regulatory due diligence of the bid documents submitted by Teleology and others for its acquisition.

Akekehgon advised the aggrieved persons, group or political parties to approach appropriate agencies to verify their claims. “Whoever that is in doubt of the ownership structure of both Etisalat and Keystone Bank has the liberty to verify his or her claim at the CAC,” he said.

He revealed that the last payment of $251.1 million to complete the total sum of $301 million to perfect the full takeover of the mobile network operator was sourced from Afreximbank.

He said the ownership of Etisalat is know as the information about the board of directors are in public domain.
New Board of Directors of the telecommunication company is made up of Nasiru Ado Bayero, Chairman; Asega Aliga, Non-Executive Director; Adrian Wood, Non-Executive Director; Mohammed Edewor, Non-Executive Director; Winston Ndubueze Udeh, Non-Executive Director; Abdulrahman Ado, Executive Director and Stephane Beuvelet, Acting Managing Director.”

On Keystone Bank, he said a consortium of local investors named Sigma Golf Nigeria Limited and Riverbank Investment Resources announced transitional governance arrangement that includes; new Board Chairman; Acting Managing Director/CEO; Executive Director and two Non-Executive Directors.

“The lender, which had since 2017 handed over officially to its new owner by the Asset Management Corporation of Nigeria (AMCON) has since named transition board team, including new Board Chairman, Alhaji Umaru H. Modibbo, Hafiz Bakare; a Non-Executive Director, Titilayo Tairat Adebiyi; Mr. Dan-Habu, and Mrs. Isichei who was the then Executive Director in charge of Operations and Technology at Keystone Bank Limited.”

Tags: etisalatkeystone bankpresident muhammadu buhari
Omotayo Edubi

Omotayo Edubi

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Comments 1

  1. DR Uche Kalu says:
    4 years ago

    Well,a scarcity of evidence does deflate an elaborate lie.
    This denial of President Buhari of his not having interest in either Keystone or Etisalat ,
    without an evidence from the Heads of the above two Institutions to buttress his denial,
    is simply a ”Taqiyya”.
    But even if the Heads of Etisalat and Keystone are subpoenaed to testify in the court on this matter, Buhari would simply hire two dozens of SANS, to bamboozle and flummox the court like he did in his Cambridge High School Cerificate forgery case.
    Of course,there are some murky nebulosities on how citizen Buhari transacts and concocts his monetary affairs.
    For example,Mallam Muhammadu Buhari as a Chairman of PTF ( Petroleum Trust
    Fund) under the late President Sani Abacha,misappropriated (stole) $2.84bn from that
    Fund.That same sum of money was later traced to Buhari’s Family Joint Bank Account with the British Midland Bank in London,Uk,controlled by his late daughter and her spouse.
    Citizen Mallam Muhammadu Buhari also used his wife,Aisha Muhummadu Buhari as
    a front person,to collect his own share of Halliburton bribery money.The evidence is there in a United State District Court in Eastern District of Virginia,Alexandra Division.
    President Buhari did single handedly withdraw the sum of $25bn from our National Till, without a due process of going through the Senates Committee for the
    Appropriation of Funds as required by our Constitution.
    When the State Minister for Petroleum,Chief Emmanuel Ibe Kachikwu raised an alarm and blew his whistle about that, President Buhari and his Nephew,Mallam Maikanti Baru,the Chairman of NNPC simply deadpanned,claimg that the above fabulous huge sum of money was for an oil exploration contract in the North.
    But lo! By then,that sum of money had already been deposited in a Dubious Digitalized Trust Fund in Dubai, in the Arabian Peninsula.
    But all over the South East ,apart from Abia , Anambra and Imo State,which are known
    petroleum producing States,there are also lots of commercial oil and shell gas deposits all over Ebonyi and Enugu State.
    Why waste such huge sum of money for oil that is not there in the North, to start with?
    President Buhari has been bragging about his recovering of our looted oil monies.But let
    him also return the money he has recently looted under our own very noses.
    And by the way,must Abdulsalami Abubakar,IBB,OBJ and Buhari himself kick the buckets like Gen.Sani Abacha, before their loots are recovered for us?
    Our above mentioned Ex-Presidents misappropriated (Stole) respectively, the following
    sums of money from our National Till ; $28bn, $12.47, $16bn and $2.84bn.
    Also, the stenches of Diamler’s,Halliburton’s,Siemens’ and Wilibros’ bribery money
    touched some of them too.
    Those looted oil monies ought to be returned to the rightful owners, and that is ,to the
    people of the N’Delta ojare.
    This ongoing barefaced vendetta and vindictiveness by Buhari and his Gestapo men of DSS, EFCC ,ICPC et al against Buhar’s Political opponents and critics in the name of fighting corruption must be stopped now.
    No to the status quo ante bellum!
    Dwn with Hausa/Fulani Islamic Hegemony!!

    Reply

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