In 2017, Etisalat owed 13 banks about $1.2billion and could not meet up their financial obligations. The banks moved to take over Etisalat Nigeria and place it on receivership. CBN and NCC intervened. It was put up 'For Sale'


The Funtuas, being smart swindlers, moved in. They quickly assembled a team. Asega Aliga, a Ugandan who has been a friend and a front for the Funtuas, was asked to put up the strategy. Aliga, a smart guy set the ball rolling, setting up offshore and local Companies.


The Funtuas, using Aliga, set up: Teleology Holdings Gibraltar, Teleology Logistics Services Nigeria Ltd, Seltix Nigeria Ltd, Daima Telecoms Nigeria Ltd, and Daima Telecoms Africa.


Investigations show that Daima Telecoms Ltd is owned by the following entities; Daima Telecoms Africa (100% owned by Asega Aliga), Daima Telecoms Nigeria Ltd ( 99% owned by Asiga Aliga. Remember, Aliga works for the Funtuas who are bringing their stolen loots from the CBN to fund


Once the companies have been set up, the Nigerian Communications Commission, NCC, began the process of selling Etisalat Nigeria. Airtel, Smile, Teleology (The Funtuas), Globacom, and Helios all bided to buy Etisalat. Curiously, Teleology (The Funtuas), emerged the winner in 2018.


Despite not meeting 90% of the condition set up by the NCC, the Funtuas pilled pressure on the CBN Governor to pressure NCC into allowing Teleology to buy Etisalat. Emefiele told NCC that the Funtuas are from the Presidency and have Buhari’s nod. NCC caved in!


Teleology Nigeria Ltd. was asked to pay $301.1million for the purchase of Etisalat. They were to pay $50million nonrefundable to secure the bid and thereafter make the full payment of $301.1million. They didn’t have the money. They have Emefiele who can provide any amount of cash


The Funtuas  struck a deal with Emefiele. It was 2018 and Emefiele needed a second term. CBN released N17billion under a phony Commercial Agriculture Credit Scheme, CACS, to Keystone Bank which was recently acquired by the Funtuas under a very fraudulent circumstances.


Once the N17billion hit the rogue Keystone Bank, the Funtuas moved the funds to 313 Bureau de Change, Wuse Zone 4, Abuja, and got $50million. The $50million was then transferred to the CBN and used as Teleology Nig Ltd nonrefundable deposit for the acquisition of 9mobile.


Once the $50million was deposited for the purchase of 9mobile, the Funtuas used Teleology to source for $251.1million loan from Afrexim Bank with an instruction to Emefiele to use CBN to guarantee the loan. This was to enable them to get the $301.1million to pay for Etisalat.


Teleology Nigeria Limited got the Afrexim Bank loan and acquired Etisalat through Emerging Market Telecommunications Limited. Once the deal was sealed, the $251million loan was immediately paid by the CBN. This was how Etisalat, now 9mobile, was fraudulently acquired.


It means the Funtuas paid nothing, absolutely nothing to acquire 9Mobile, and today, Abubakar Isa Funtua, the younger Funtua, can fly to Gilbraltar to launder funds, stop by in Spain at his hangout where he is called “Sheik of Dollars.” Gibraltar is a British territory near Spain


After the purchase, Etisalat became 9mobile and 20% of the 9mobile share was awarded to Daima Telecoms Ltd, making Teleology and Daima the two major shareholders of 9mobile. Both companies are owned by the Funtuas using a Ugandan called Asega Aliga.


Aliga studied Law from the University of Daar E Salaam in 1996. He started his career in London with Smith and Williamson in early 2000. He later became COO of Barclays Middle East, Dubai, and later as COO of United Capital. It was through all this he met The Funtuas.


Olujimi Adekanle JAF 

Public Affairs Analysts