A few weeks ago, Mubadala Group, the major investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator, due to a N541 billion debt after which a new board was appointed at Etisalat Nigeria, to handle the smooth transition of the telecommunications company after a reallocation of shares.
Etisalat Nigeria will now be 9Mobile, one would say it’s not so far from the Etisalat we know or used to know as “0809ja.” Now we can only wait for the new logo and wish 9Mobile good luck.
This is not the first time a telecommunication company would be selling out in Nigeria. It would be recalled that in the past Airtel did go through some major challenges causing the telecommunication to sell out a number of times.
Boye Olusanya, former deputy managing director of Celtel Nigeria (now Airtel Nigeria), was appointed as the chief executive officer of Etisalat Nigeria to oversee the transition due to his experience in the smooth transition of Celtel to Airtel.
The transition of the telecom, with 21 million subscribers, was brokered with the aid of the Central Bank of NIGERIA (CBN) and National Communications Commission (NCC).