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The Nigerian Communications Commission (NCC) has disclosed that it intervened with the Central Bank of Nigeria (CBN) to resolve the issues of Etisalat Nigeria (now 9mobile) and consortium of 13 banks because of investors, its over 20 million subscribers and employees of Etisalat.
This was disclosed by the Executive Vice Chairman and Chief Executive of NCC, Prof. Umar Garba Danbatta, when he received Chief Executive of 9mobile, Mr. Boye Olusanya, and Vice President (Regulatory Affairs), Mr. Ibrahim Dikko, in his office in Abuja.
He said, “the over $2 billion Foreign Direct Investment (FDI) by Mubadala of United Arab Emirates (UAE) was hanging, while 20 million subscribers and over 4,000 workers would have been affected adversely if we did not intervene in the matter with a view to finding an amicable resolution,” adding that resolving the issue was also to forestall any form of disincentive to the FDI.
