Etisalat Nigeria has denied the claim of patent infringement by V-Exchange Limited, which was reported recently in the media.
The management of V-Exchange claimed that it sent a business proposal dated October 27, 2016 to Etisalat and subsequently met with the telecoms representatives on November 23, 2016, where it informed the company of some of its products with a view to partnering with Etisalat and launching the products on Etisalat’s platform.
V-Exchange, however, said Etisalat proceeded to unilaterally launch the products as ‘KwikCash’ without its authorization.
V-Exchange demanded for over N2 billion from Etisalat as compensation.
In reaction to the allegation, the Head, Environment Compliance and Public Relations, Etisalat Nigeria, Oluseyi Osunsedo, dismissed the allegation by V-Exchange as baseless and unfounded, while affirming Etisalat’s commitment to strict adherence to existing laws, industry regulations and best practice.
Osunsedo said KwikCash loan service, the product, which, according to V-Exchange, was allegedly copied by Etisalat from its proposal, is owned and operated by a licensed financial institution, which was granted approval by the Nigeria Communications Commisison to run the service on Etisalat’s network.
The NCC approval was dated April 20, 2016, while the pilot launch of KwikCash service held on July 18, 2016.
Osunsedo questioned how the product could have been copied from V-Exchange when KwikCash service was already in existence and operational long before October 27, 2016 when V-Exchange sent its proposal to Etisalat.
In view of the above, Etisalat Nigeria urged the general public to disregard the claim by V-Exchange Limited as the allegation is frivolous and lacking any merit.
“In keeping with our vision of being an enabler, we re-affirm that Etisalat is a law abiding and responsible corporate organization and we remain committed to delighting our customers and stakeholders with innovative products and superior customer experience,” Osunsedo declared.
Etisalat refutes copyright infringement allegations by V-Exchange
