Abuja-The Nigerian Communications Commission(NCC) has reassured 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.
This is coming on the heels of a planned takeover of Etisalat by a consortium of banks after a failed mediation by the NCC, Central Bank of Nigeria and other stakeholders over its N541.8 billion debt.
A consortium of some foreign and Nigerian banks, including Guaranty Trust Bank, Access Bank and Zenith Bank, have been having a running battle with the mobile telephone operator over a loan facility totalling $1.72 billion (about N541.8 billion) obtained in 2015.
In a statement signed by the Director, Public Affairs, NCC Mr.Tony Ojobo,the Commission has taken proactive steps to cushion the impact of the takeover, adding that this is without prejudice to the ongoing effort between Etisalat and the banks toward negotiated settlement.
In view of the recent development, NCC reassured 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” the statement read.