Etisalat will continue to service its over N20m customers – NCC assures

The Nigerian Communications Commission, NCC, has assured that Etisalat Nigeria would continue to provide service to its over 20m customers in the country.
NCC gave the assurance while dousing the controversy that trailing the takeover of the mobile network provider by some banks.

Recall that no fewer than 10 banks had recently taken over Etisalat due to a huge debt it incurred.
Reacting to the controversy, NCC, in a statement by its Director of Public Affairs, Tony Ojobo, said the network will continue to fulfill its obligations to its stakeholders.
NCC stated that Etisalat and its creditors have reached an amicable resolution pertaining the network’s indebtedness.

The statement reads partly, “The Commission is pleased to note that Etisalat and its creditors have successfully reached an amicable resolution of key issues pertaining to its indebtedness, and that a smooth transitional process is currently ongoing on mutually agreed terms.

“The Commission is confident that the amicable resolutions reached by the parties will further strengthen Etisalat’s capacity to continue to provide services to its over 20million customers and to fulfil its obligations to its other stakeholders as a going concern, regardless of any changes that the parties have agreed to Etisalat’s Ownership, its Board and/or its Executive Management.
“We further wish to assure that as empowered by the Nigerian Communications Act 2003, the Commission will continue to work assiduously with all industry stakeholders to ensure that the Nigerian telecommunications industry remains capable of playing its critical role as a key driver of national socio-economic development.

“NCC is mindful of the need to sustain the industry’s significant contribution to National GDP, employment and infrastructure roll-out at all times.
“The Commission’s intervention in the matter was informed by these considerations, and we are pleased at the success of the ongoing process.
The Commission also acknowledges the “pivotal role” of the Central Bank of Nigeria, CBN, in resolving the matter in a manner that protects the interests of “all stakeholders especially the creditor banks and Etisalat’s over 20million customers.”