Etisalat Nigeria changes name, now 9mobile telecom

The embattled telecommunication company, Etisalat Nigeria has changed its brand name to 9mobile.

The company announced the name change at end of a management meeting in Lagos.

Mubadala Group, the major investor from the United Arab Emirates, had a few days ago pulled out of Nigeria’s fourth largest mobile operator, due to controversies about a N541 billion debt to a consortium of banks.

Early this month, a new board headed by Boye Olusanya, former deputy managing director of Celtel Nigeria was appointed at Etisalat Nigeria, to handle the transition of the telecommunications company after a re-allocation of shares.

The Central Bank of Nigeria recently took over the company after  it failed to pay up a debt of $1.2 billion owed a consortium of 13 banks.

This latest move, according to the apex bank was to save the firm from total collapse and restore confidence of foreign investors in the industry.

Etisalat Nigeria changes name, now 9mobile telecom


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