The Federal High Court in Abuja will rule on September 24, 2025, on a case involving businessman Abubakar Isa’s claim that his 43 million shares in 9mobile were transferred without his consent.
Abubakar Isa has taken legal action to challenge the transfer of his 43 million shares, which he alleges were held in trust by Seltrix Limited but were transferred to Emerging Markets Telecommunication Services Limited (9mobile’s operating company) without his permission. Isa’s suit argues that this transfer led to an illegal change of control of 9mobile to LH Telecommunication Limited, approved by the Corporate Affairs Commission (CAC) and Nigerian Communications Commission (NCC).
Isa’s legal team, led by Femi Atteh, SAN, insists Isa is the rightful beneficial owner of the shares and that Seltrix and others breached trust by transferring the shares without his consent. The shares in question were part of Teleology Nigeria Limited’s capital, which held a majority stake in 9mobile. Teleology had secured a loan from the African Export-Import Bank using these shares as collateral.
The defendants include Seltrix Limited, Hayatu Hassan Hadeija, Teleology Nigeria Limited, LH Telecommunication Limited, CAC, NCC, and others. The defense argues the case should be dismissed as time-barred and an abuse of court process, suggesting Isa should pursue a civil suit against his trustee instead.
After hearing arguments, Justice Mohammed Umar adjourned the case for ruling on September 24.
9mobile, formerly Etisalat Nigeria, has experienced multiple ownership changes. Teleology Nigeria Limited acquired it in 2018 after the previous owners defaulted on loans. In 2024, LH Telecommunication Limited acquired a 95.5% stake in 9mobile, a move approved by the NCC and other regulators. Isa’s lawsuit challenges the legitimacy of this latest acquisition, focusing on the alleged mishandling of his shares during the ownership transition.
The Federal High Court’s ruling in September will clarify the ownership status of the disputed shares and potentially impact 9mobile’s control structure going forward.
