The Nigerian Communications Commission (NCC) said it had to align with the Central Bank of Nigeria (CBN) to resolve the issues of Etisalat Nigeria which is now 9 mobile and consortium of 13 banks in the interest of investors, subscribers and employees.
Umar Garba Danbatta, Vice Chairman of the NCC gave the explanations in abuja when he received in Umar Boye Olusanya, Chief Executive of 9Mobile, and Ibrahim Dikko Vice-President, (Regulatory Affairs) in his office.
“Over $2billion 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,” Danbatta said.
He further explained that resolving the issue was partly to forestall any form of disincentive to the FDI adding that 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.
According to him, NCC’s collaboration with CBN was to avert a looming economic disaster, “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.”
Danbatta further assured the 9mobile team of the Commission’s cooperation to grow its network.
Boye Olusanya, commended 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.
