The Nigerian Communications Commission has assured subscribers to the Etisalat network of continuous quality service.
The assurance is coming on the heels of the change in the ownership structure of Etisalat Nigeria.
The company had on Tuesday announced the divestment of part of its shares following its inability to meet up with the payment of a loan it took from a consortium of local and international banks, which amounted to N541 billion.
In this wise, after the loan restructuring talks failed, the company had to cede a substantial part of its shares to the consortium of banks, led by Access Bank Plc.
Following this development, there had been fears about a possible nosedive in the quality of service rendered by Etisalat Nigeria, which is regarded as one of the best service providers in the country.
The NCC, in the statement by its spokesperson, Tony Ojobo, however, said it would continue to monitor Etisalat for the delivery of quality service.
The NCC said in the statement:
The attention of the Commission has been drawn to a planned takeover of Etisalat by a consortium of banks. As a result of this planned action the Commission wishes to state as follows:
• The Commission is aware of the indebtedness of Etisalat to the consortium of banks;
• In conjunction with the Central Bank of Nigeria (CBN), it mediated by holding several meetings with the banks, Etisalat and other stakeholders with a view to finding a resolution;
• Regrettably these meetings did 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.
The Commission 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.
Accordingly, the Commission has drawn the attention of the banks to provisions of the Nigerian Communications Act (NCA) 2003 Section 38:
Sub section 1 – 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;
Sub section 2 – 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.
Whilst the banks and Etisalat are working at resolving the issues, the Commission wishes to assure subscribers that they will continue to enjoy the services provided by Etisalat.
Etisalat: NCC assures subscribers of network integrity
