Chairman, Globacom
Search every verified Mike Adenuga interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Mike Adenuga, the founder and chairman of Globacom, has spoken in interviews about his early business ventures and the challenges of launching a telecommunications company in Nigeria. He said that after returning to Nigeria in 1974, he began importing car stereos, which he described as a major break that gave his business a strong head start. Adenuga recounted that when Globacom sought a telecommunications license, the company faced difficulties after a third party informed its financiers that the license was "litigious," leading to a loss of funding. He said that Globacom then remitted the full $285 million license fee into an account at Chase Manhattan Bank in New York with a caveat, keeping the money there for three weeks while making appeals, and that the situation was eventually resolved with the help of the government. Adenuga has also discussed the company's business strategy and its investments in infrastructure. He stated that Globacom introduced per-second billing so that customers pay only for the time they use, and that the company deployed what he described as the latest state-of-the-art technology. He said that Globacom's Glo 1 submarine cable, which he said is connected to a 10,000 km fiber optic network, would provide clearer lines and high-quality internet bandwidth at affordable prices, and that it would allow Nigerians to compete with the rest of the world on an equal footing. Adenuga added that the company has partnered with Manchester United and has been building a mobile network in Ghana.
“When we came back in 1974, there were a lot of opportunities. I decided to start importing car stereos because cars were coming in without stereo. That was the major break in business for us and gave us a strong head start.”
“We put a lot of premium on making sure that when we go out there to resource a company, we look for the very best. We have very competent, highly competent people, devoted and honest in running most of the businesses.”
“The issue of CIL was most unfortunate. If people like me shy away from those issues because of one or two mistakes, then who is going to do the business in Nigeria? Somebody has to do the dirt job.”
“We drove the price to 285 million dollars for the license and luckily we found the money. But the frequency was litigious and was earlier given to somebody who went to court trying to restate his rights.”
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In a rare display of journalism courage and creativity, Bisi Olatilo, one of Nigeria's gifted broadcasters met and spoke with Africa's Business Colossus and entrepreneur extra-ordinary, Otunba Dr. Michael Agbolade Ishola Adenuga aka Mike Adenuga Jnr (GCON) inside his Victoria Island, Lagos home and got him talking about business, lifestyle and humble upbringing. For the very first time, The Guru, Mike Adenuga spoke about his year 2003 big loss of $285 Million Dollars Communication International Limited (CIL) deal against Bank Paribas of Paris. The highly talented Guru of Communications busines…
Chairman, Globacom, Mike Adenuga Jnr, talks about the new era of possibilities that the launching of Glo 1 submarine cable by the Nigerian second national operator (SNO) will bring to the economies of Nigeria, West Africa and beyond in this video message at the commercial launch of the transmission facility in Lagos
Globacom Chairman Opening speech @ Glo-CAF Award 2009
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