Business

NCC Approves Etisalat Nigeria’s Name Change-9Mobile

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[dropcap]T[/dropcap]he Nigerian Communications Commission (NCC) has approved Etisalat Nigeria’s name change, according to the company Wednesday.

“Etisalat Nigeria wishes to inform its over 20 million subscribers, government, regulatory agencies … the telecommunication company has changed its name to 9mobile,” 9mobile said.

 

UAE’s Etisalat terminated its management agreement with its Nigerian business in June and gave it three weeks to phase out the brand after it had to surrender its 45 percent stake to a trustee because of the debt crisis.

Under Nigeria’s telecoms law, the NCC has to approve a transfer of telecoms licences or any new investor in a telecoms company with more than 10 percent of the shares.

Etisalat Nigeria’s lenders have now taken control and appointed a new team to manage the company with a focus on getting it back to profitability while working to eventually raise new capital.

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