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Breaking: Etisalat Nigeria changes name, now 9mobile telecom
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Breaking: Etisalat Nigeria changes name, now 9mobile telecom

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Image result for .Etisalat The embattled telecommunication company, Etisalat Nigeria has changed its brand name to 9mobile.

The company announced the name change at end of a management meeting in Lagos.

Mubadala Group, the major investor from the United Arab Emirates, had a few days ago pulled out of Nigeria’s fourth largest mobile operator, due to controversies about a N541 billion debt to a consortium of banks.

Early this month, a new board headed by Boye Olusanya, former deputy managing director of Celtel Nigeria was appointed at Etisalat Nigeria, to handle the transition of the telecommunications company after a re-allocation of shares.

The Central Bank of Nigeria recently took over the company after  it failed to pay up a debt of $1.2 billion owed a consortium of 13 banks.

This latest move, according to the apex bank was to save the firm from total collapse and restore confidence of foreign investors in the industry.