NCC Board  Hails Collaboration  with CBN over Etisalat Restructuring

The Board of the Nigerian Communications Commission (NCC),  has praised the quality of collaboration between the agency and the Central Bank of Nigeria, CBN, on the on-going restructuring at Etisalat Nigeria Nigeria, GutsyPen4ICTD has learnt. The NCC board, headed by Senator Olabiyi Durojaiye, rose from an emergency meeting, Wednesday July 5, 2017, to comprehensively review  issues around troubled the telco.

Information on the meeting, seen by GutsyPen4ICTD, signed by the Commission’s Director of Public Affairs, Tony Ojobo, said financial and technical integrity standards, the telco is expected to meet, took the front burners at the crucial board meeting.

While commending the NCC Management for its able handling of the Etisalat issue till date, the board noted  its concerns are three-fold: ensuring continuous service to the over 21 million Etisalat subscribers, safeguarding the employees, and stabilizing the telecom sector to ensure its contribution to GDP is not impacted and investment interest continues. 

Details on the three-fold concerns were sketchy yet as at the time of this report, but the NCC board directed the Management to ensure always  that telcos meet the financial and technical integrity standards expected of them.

It will be recalled that, the Central Bank of Nigeria, recently reconstituted the board of Etisalat Nigeria, chaired by its deputy director, Dr. Joseph Nnanna, giving it a 6-month deadline to ensure the telco met its financial obligations to 13 creditor  banks led by Access Bank Plc.