The Nigerian Communications Commission (NCC) has approved Etisalat Nigeria’s name change to 9mobile. The new name was adopted after a management meeting of the telecom company last week. Etisalat Nigeria was near collapse after it failed to pay back a $1.2 billion loan it received from 13 banks, back in 2013 which was followed by the UAE parent company pulling out from the brand name and shares.
“Etisalat Nigeria wishes to inform its over 20 million subscribers, government, regulatory agencies, the telecommunication company has changed its name to 9mobile,” the company said. The NCC must approve a transfer of telecoms licenses or any new investor in a telecoms company with more than 10 percent of the shares. Under local telecoms laws.
Etisalat Nigeria’s lenders have now taken control and appointed a new team to manage the company with a focus on getting it back to profitability while working to eventually raise new capital. The Telecom Company has 20 million subscribers, making it Nigeria’s number four Mobile operator with a 14 percent market share.