The apex telecommunications regulator in the country, Nigerian Communications Commission (NCC) has
warned the consortium of banks led by Access Bank plc, saying they cannot
take over Etisalat through the back door, reports ITRealms.
The Commission through its Director, Public Affairs, NCC,
Mr. Tony Ojobo, told ITRealms that the
despite the indebtedness of Etisalat to the consortium of banks, insisting that
such takeover negates the provisions of the Nigerian Communications Act (NCA)
2003 Section 38.
This, he said, showed that granting of a license is
personal to the licensee and not transferable.
According to Ojobo, NCA 2003 Section 38, Sub section 1 states
inter-alia that “The grant of a license shall be personal to the licensee and
the license shall not be operated by, assigned, sub licensed or transferred to
another party unless the prior written approval of the commission has been
granted.”
Buttressing this, NCC noted that Sub section 2 stated “A
licensee shall at all times comply by the terms and condition of the license
and the provision of this act and its subsidiary legislation.”
NCC condemned the planned takeover of Etisalat Nigeria by
a consortium of banks, saying the Commission was aware of the indebtedness and
had made efforts to resolve the aligning issues along the Central Bank of
Nigeria (CBN) with a view to finding a resolution.
Unfortunately, the spokesman said, these meetings could not
yield the desired results.
“The NCC wishes to reassure the over 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,”
he said.
The Commission, Ojobo maintained, has taken proactive
steps to cushion the impact of the takeover, this is without prejudice to the
ongoing effort between Etisalat and the banks toward negotiated settlement.
“In view of the recent development, NCC wishes to
reassure all stakeholders in the telecommunications sector in particular the subscribers
on the Etisalat Network that the Commission will ensure that the integrity of
Etisalat Network is not compromised,” NCC assured, stressing that subscribers
would continue to enjoy the services provided by Etisalat.
ITRealms
recalls that the bank consortium comprised Access Bank plc, Zenith Bank,
GTBank, First Bank, UBA, Fidelity Bank, Ecobank, FCMB, Stanbic IBTC Bank and
Union Bank.
Nonye Dom/GEE
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