Etisalat Nigeria has changed its brand name to 9Mobile, reports have said.
The name change follows the pullout of Mubadala Group, Etisalat’s major investor from the United Arab Emirates, over a $1.4bn (N541bn) debt.
Last week, Nigerian regulators made attempts to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate a $1.2 billion loan failed.
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All UAE shareholders of Etisalat Nigeria have exited the company and have left the board and management.
It would also be noted that the chairman of Etisalat Nigeria, Hakeem Belo Osagie resigned and several other members of the board have also stepped down.
However, discussions were ongoing with Etisalat Nigeria to provide technical support, adding that it can use the brand for another three-weeks before phasing it out till this latest development.
At the end of today’s management meeting of the telecom firm in Lagos, 9Mobile was adopted by the company as the new brand name.
Meanwhile, 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 this on 20 June in a statement that the commission’s attention had been drawn to the planned takeover by the consortium of banks.
Ojobo said that the regulatory body was aware of the indebtedness of Etisalat to the consortium.
According to him, the NCC in conjunction with the Central Bank of Nigeria (CBN), has mediated by holding several meetings with the banks, Etisalat and other stakeholders to find a solution.
“Regrettably, these meetings did not yield the desired results.
“The NCC wishes to reassure about 21 million Etisalat subscribers that it will do all within its regulatory power to ensure that Etisalat subscribers continue to enjoy the services provided by the operator.
