9Mobile: NCC intervened to safeguard investors, staff and subscribers – Danbatta

OrderPaperToday – The Nigerian Communications Commission (NCC) has said that it took the interest of investors, subscribers and employees of defunct Etisalat into consideration to align with the Central Bank of Nigeria (CBN) in order to resolve the debt owed a consortium of 13 banks.

The Executive Vice Chairman (EVC) and Chief Executive of the NCC, Prof. Umar Danbatta declared this when he received in audience Chief Executive of the successor company, 9Mobile, Mr. Boye Olusanya, and Vice-President, (Regulatory Affairs) Mr Ibrahim Dikko in his office in Abuja.

Danbatta in a statement from the Commission was quoted as saying “the over $2B 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.”

According to him, “resolving the issue was also partly to forestall any form of disincentive to the FDI.”

Danbatta stated further that if the company had gone under, it would have created a social problem especially with the jobs of over 2,000 Nigerians on the line, adding that such a situation was capable of creating security challenges for the country.

In the statement signed by the  Director, Public Affairs of the NCC, Tony Ojobo,  Danbatta further stated that NCC collaborated with CBN 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,” he said.

Danbatta further assured the 9mobile team of the Commission’s cooperation to grow its network.

Earlier, the Chief Executive of 9Mobile, Mr. Boye Olusanya, thanked the EVC and the NCC Management for the 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.

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