Etisalat, Banks Resolve Indebtedness Issues – NCC

By Florence Onuegbu
Lagos –   The Nigerian Communications Commission (NCC) says Etisalat and its creditors have successfully reached an amicable resolution of key issues pertaining to the 1.2 billion dollars indebtedness.

Mr Tony Ojobo, the Director, Public Affairs, NCC, said in a statement in Lagos on Tuesday that a smooth transitional process was currently ongoing on mutually agreed terms.

He said that the amicable resolution would allay the fears of stakeholders on enquiries regarding the current position on Etisalat Nigeria.

Ojobo said that the commission was confident that the amicable resolutions reached by the parties would further strengthen Etisalat’s capacity to continue to provide services to its over 20 million customers.

Related Story:  Fidelity Bank profit grows by 65.1% in nine months

According to him, the resolutions will help Etisalat fulfil its obligations to its other stakeholders as a fast growing business concern.

“This is regardless of any changes that the parties have agreed to Etisalat’s ownership, its board and/or 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.

“This is to ensure that the Nigerian telecommunications industry remains capable of playing its critical role as a key driver of national socioeconomic development,” he said.

Ojobo said that the NCC was mindful of the need to sustain the industry’s significant contribution to the National GDP, employment and infrastructure roll-out at all times.

Related Story:  Fortis reiterates commitment to satisfy customers, awards endearing customers

He said that the commission’s intervention in the debt matter was informed by these considerations and was pleased about the success of the ongoing process.

“The commission also wishes to acknowledge the pivotal role of the Central Bank of Nigeria in resolving the matter in a manner that protects the interests of all stakeholders, especially the creditor banks and Etisalat’s over 20 million customers,” Ojobo said. (NAN)

MTN News Alert
DMON
To receive our mobile newspaper on MTN delivered on your phone, text SAWD to 4900 at N50 per week or SAMD to 4900 at N150 per month.
For information on press releases, photos, promotional events and adverts, call or send text to 08173460599 or 08094208271or send email to: info@sundiatapost.com

Leave a Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838
https://twitter.com/sundiatapost/

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143
Dubai Office: PAU Management Suite, Level 23 - Boulevard Plaza Tower 2, Emaar Boulevard,
P. O. Box 124342, Dubai, UAE.
Tel: +971 4 4096849 | Fax: +971 4 409 6850
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
ACCREDITED MEMBER
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate