Gives reasons for brokering Etisalat’s N200b debt pact with banks
The Nigerian Communications Commission (NCC) has said that consumers spent N2. 047 trillion ($6.6 billion) in 2016 to access telecoms services. This is a rise of $1billion above the N1.737 trillion ($5.6billion) spent the previous year.
The Executive Vice Chairman of the commission, Prof. Umar Danbatta disclosed this yesterday at the opening of NCC’s year of consumers in Asaba.
Danbatta explained that the commission, with the Central Bank of Nigeria (CBN) prevented the takeover of Etisalat by a consortium of local lenders over an alleged loan of N200 billion in the interest of the telco’s over 20 million customers.
He reaffirmed the commitment of the two regulators to ensuring that the alleged N200 billion loan default payment issue by Etisalat was amicably resolved in the interest of the industry, and the nation’s investment climate.
According to the NCC’s chief, though the matter had not been resolved, negotiations would continue among all the parties. He stressed: “Let me assure that there is no cause for alarm over the matter. The regulators are on top of the situation and details of the resolution would be made available within next couple of weeks.”
Danbatta said the NCC and the CBN had to intervene particularly in a manner that business operations of all the parties involved would not be jeopardized.”
He maintained that NCC considers consumers as very important hence it intends to inform and educate the consumers with the sole intent of protecting and empowering them to make the right decisions.