A few weeks ago, Mubadala Group, the major investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator, due to a N541 billion debt. Etisalat Nigeria on Thursday rallied to move away from the shadows of its troubles by taking a new brand name. At the end of a management meeting of the telecom firm in Lagos, 9Mobile was adopted by the company as the new brand name.
On July 4, 2017, a new board was appointed at Etisalat Nigeria, to handle the smooth transition of the telecommunications company after a reallocation of shares.
Boye Olusanya, former deputy managing director of Celtel Nigeria (now Airtel Nigeria), was appointed as the chief executive officer of Etisalat Nigeria to over see the transition.
According to online news source TheCable, we were made to understand that Olusanya was appointed to oversee the transition of the company due to his experience in the smooth transition of Celtel to Airtel.
The transition of the telcom, with 21 million subscribers, was brokered with the aid of the Central Bank of NIGERIA (CBN) and National Communications Commission (NCC).
NCC has warned the creditors that the licence awarded to Etisalat Nigeria is not transferable, effectively stopping the banks from taking ownership of the company.
More information coming soon.
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