An amicable resolution has been reached by Nigerian banks and Etisalat over the debt owed by the telecoms company, according to the Nigerian Communications Commission (NCC).
Making the announcement, Tony Ojobo, the director, Public Affairs, NCC, said a smooth transitional process was currently ongoing on mutually agreed terms and that the amicable resolution would allay the fears of stakeholders on enquiries regarding the current position on Etisalat Nigeria.
He said NCC 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. With the resolutions, Ojobo said Etisalat will be able to fulfill 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.
“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.
