The management of the Nigerian
Communications Commission (NCC) and Central Bank of Nigeria (CBN) have
intervened in the loan burden between Etisalat Nigeria and a consortium of
commercial banks, reports ITRealms.
This, ITRealms gathered, followed a management
meeting between the two regulators of telecommunications and financial sectors,
in order to salvage the matter at the instance of NCC, which paved the way for
an urgent meeting for Friday, March 10 between the feuding parties.
Confirming this, the Director,
Public Affairs, Nigerian Communications Commission, Tony Ojobo told ITRealms that a meeting was held Thursday afternoon
in Abuja between the Executive Vice Chairman (EVC) of NCC, Prof. Umar Danbatta
and Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, alongside his
team.
According to Ojobo, a
decision was reached to intervene in the loan issue between Etisalat Nigeria
and a consortium of commercial banks.
He also disclosed that the meeting which held at the Central Bank
Headquarters in Abuja was convened by the financial regulator at the instance
of NCC, the telecom regulator, to further deliberate on how best to stop the
attempt by the banks to take over Etisalat.
“At the end of the meeting, the Central Bank of Nigeria agreed to
invite Etisalat management and the banks to a meeting tomorrow, Friday,
towards finding an amicable resolution,” he said.
Ojobo further said that NCC as a regulator of the telecom industry
had moved quickly to intervene earlier in the week by reaching out to the CBN and
was convinced of the negative impact such a bank take over will have on the
industry.
NCC, he said, is concerned about the fate of the over 20 million
Etisalat subscribers and the wrong signals this may send to potential investors
in the telecom industry.
Chuks Egbune/GEE
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