Nigeria Communication Commission (NCC), says it will check the financial health of other carriers following after Etisalat Nigeria defaulted on a USD1.2 billion loan.
The telecoms regulators stated that the commission will double up on others in the industry.
“We need to check the books to detect failings on time,” NCC’s spokesperson told Reuters, adding that the law setting up the Nigerian Communications Commission (NCC) empowers it to conduct such checks.
He further said that the commission must approve any new investor with over 10 percent of the shares in a telecoms firm.
Etisalat Nigeria has recently rebranded to 9Mobile following a name change request by Etisalat Group. Moreso, lenders have taken control of the management of the company and placed the shares in the custody of a loan trustee.
Recalled that Etisalat Group had requested for a withdrawal of the right to the continued use of Etisalat brand in Nigeria by EMTS.
On behalf of Etisalat Group, Hatem Dowidar, the chief executive of Etisalat International, said that the company would phase out the telecom group’s brand in Nigeria.
Meanwhile Emerging Markets Telecommunication Services Ltd. (EMTS), trading as Etisalat Nigeria reacted with a statement to its customers…assures its customers and other stakeholders that Etisalat Group’s reported withdrawal of the right to the continued use of the Etisalat brand in Nigeria by EMTS does not in any way imply discontinuation of our business as Nigeria’s fourth largest mobile service provider.
Contrary to certain misleading statements in the press about our experience centres and outlets being closed, we wish to state that all Etisalat offices, Experience Centres and outlets across Nigeria are in full operation and are providing services including customer care services on 24/7 basis.
Etisalat Nigeria also reiterates its unwavering commitment to delivery of quality services and commitment to continuously empowering all segments of Nigeria through the development and roll-out of innovative products, services and solutions that help individuals, businesses and organisations solve their everyday problems.
Whilst we are intensifying efforts aimed at reaching full closure on ongoing discussions with regards the transition phase, we want to assure that our customers and stakeholders will be duly informed as soon as these are concluded, including details of a rebranding should that become necessary .