A few weeks ago, It was reported that they had gone bankrupt due to huge debts they owed to several banks. The Telecommunication company has now bounced back but not without a new name. Etisalat has successfully changed it name to 9Mobile.
Emerging Markets Telecommunication Services Ltd. (EMTS), trading as Etisalat Nigeria, hadsaid “discussions are ongoing between EMTS and Etisalat Group pertaining to the continued use of the brand, and EMTS will issue a formal statement once discussions are concluded”.
Boye Olusanya, former deputy managing director of Celtel Nigeria (now Airtel Nigeria), was appointed as the chief executive officer of Etisalat Nigeria to over see the transition.
TheCable understands that Olusanya was appointed to oversee the transition of the company due to his experience in the smooth transition of Celtel to Airtel.
The transition of the telcom, with 21 million subscribers, was brokered with the aid of the Central Bank of NIgeria (CBN) and National Communications Commission (NCC).
NCC has warned the creditors that the licence awarded to Etisalat Nigeria is not transferable, effectively stopping the banks from taking ownership of the company.