The Nigerian Communications Commission (NCC), took the
interest of investors, subscribers and employees of Etisalat into consideration
to align with the Central Bank of Nigeria (CBN) in order to resolve the issues of
Etisalat Nigeria (now 9Mobile) and consortium of 13 banks.
The Executive Vice Chairman (EVC) and Chief Executive of
the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta
declared this when he received in audience Chief Executive of 9Mobile, Mr. Boye
Olusanya, and Vice-President, (Regulatory Affairs) Mr Ibrahim Dikko in his
office in Abuja.
Danbatta said “the over $2B Foreign Direct Investment
(FDI), by Mubadala of United Arab Emirates (UAE) was hanging, while 20million
Subscribers and over 2000 workers would have been affected if we did not
intervene in the matter with a view to finding an amicable resolution”.
Resolving the issue was also partly to forestall any form of disincentive to
the FDI, Danbatta explained.
According to him, if the company had gone under, this
would have created a social problem especially with the job of over 2,000
Nigerians on the line. He added that such a situation was capable of creating
security challenges for the Country.
Prof. Danbatta further stated that NCC collaborated with
CBN to avert a looming economic disaster adding “we want to see a viable and
thriving 9Mobile and we want to cooperate with you so that things can move
seamlessly and be successful”, he said.
Danbatta further assured the 9mobile team of the
Commission’s cooperation to grow its network.
Earlier, the Chief Executive of 9Mobile, Mr. Boye
Olusanya, thanked the EVC and the NCC Management for its cooperation that led
to a seamless change and asked for concessions especially in the area of
spectrum assignment, revisit of data floor price, review of interconnect rates
to asymmetric platform, concessional foreign exchange access, national roaming
and others “in order for 9Mobile to shore up its revenue and meet its financial
obligations accordingly.”
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