Teleology Holdings Ltd., says it is transferring a non-refundable completion deposit of 50 million dollars to the trustees of the bank syndicate presently holding ownership of 9Mobile. The company made this known in a statement signed by Mr Adrian Wood, Teleology’s Director and pioneer Managing Director of MTN Nigeria. Wood said the payment underscored Teleology’s […]
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First Bank of Nigeria (FBN) has posited that the Nigerian Banks who took over 9mobile — formerly known as Etisalat Nigeria — are in the process of stabilising the telecommunication company before looking for new investors to buy into the company. Quoting First Bank, Reuters said the country’s fourth largest telecoms group will keep stability […]
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The Nigerian Communications Commission says in the country internet users increased from 90,124,428 in April to 91,565,010 in May, an increase of 1,440,582. The telecommunications industry regulator made the disclosure in its Monthly Internet Subscribers Data obtained by the News Agency of Nigeria (NAN) on Saturday in Lagos. The data indicates that internet users on […]
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Following the withdrawal of support by its Mubadala Group, Etisalat Nigeria is changing its brand name to 9Mobile. The investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator, due to a N541 billion debt. On July 4, 2017, a new board, headed by Boye Olusanya, former deputy managing director of […]
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Emerging Markets Telecommunication Services Ltd. (EMTS) trading as Etisalat Nigeria on Tuesday informed its customers that the change of brand name will not affect its operations. Mr Ibrahim Dikko, the Vice President, Regulatory and Corporate Affairs, EMTS made this known in a statement. Dikko said that EMTS was aware of recent news reports regarding Etisalat […]
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Telecoms group Etisalat has finally announced the termination of its management agreement with its Nigerian arm. According to Reuters, the company has given few weeks to operators of the brand to phase out Etisalat in Nigeria Hatem Dowidar, chief executive of Etisalat International, said the company, with a 45 percent stake in the Nigerian business, […]
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Financial sector regulator, Central Bank of Nigeria, CBN on Friday said its intervention in the ongoing debt crisis between Etisalat Nigeria and a consortium of banks was to save the Nigerian financial system. CBN spokesperson, Isaac Okoroafor, said the two regulatory authorities intervened primarily to prevent job losses and asset stripping. “Although it should ordinarily […]
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Etisalat Nigeria says it had paid about 42 percent of its original loan, taken from a consortium of banks, is not being investigated by the Economic and Financial Crimes Commission (EFCC) as a result of any petition. In a statement signed by Ibrahim Dikko, Etisalat vice-president of corporate affairs, the telecom company said it is […]
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Amid the move to takeover of Etisalat by a consortium of banks, the Nigerian Communications Commission (NCC) has assured subscribers that the network’s integrity would not compromised. The Director, Public Affairs of NCC, Mr Tony Ojobo, said in a statement on Wednesday in Lagos that the commission’s attention had been drawn to the planned takeover […]
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Etisalat Nigeria sought to reassure its apparently distraught workers Tuesday after talks with its lenders broke down, leading to the telecoms company being taken over by banks. In a message to all staff of the company, the Chief Executive of Etisalat Nigeria, Mathew Willsher, acknowledged the challenging business outlook for the company in the wake […]
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