Skip to main content

UPDATE: Etisalat Nigeria changes name, now 9Mobile


The embattled Etisalat Nigeria on Thursday rallied to move away from the shadows of its troubles by taking a new brand name.
At end of a crucial management meeting of the telecom firm in Lagos, 9Mobile was unanimously adopted by the company as its new brand name.
Last Monday, the chief executive of Etisalat International, Hatem Dowidar, said Etisalat Group would, in the next three weeks, phase out the brand name in Nigeria.
The decision followed Emirates Telecommunications Group (Etisalat Group) withdrawal of further involvement in the ownership of the Nigerian subsidiary.
Until June 15, the United Arab Emirates, UAE, group was a major shareholder in Etisalat Nigeria, along with United Arab Emirates Sovereign Wealth Fund through Mubadala Development Company, Abu Dhabi.
The two affiliates controlled a combined 85 per cent equity in the telecom firm, with Myacinth holding 15 per cent stake through Emerging Markets Telecommunications Services, EMTS Holding BV, owned by former United Bank for Africa, UBA, Chairman, Hakeem Bello-Osagie.
Opting to part ways with the company followed the crisis in the wake of the $1.2 billion (N377.4 billion) syndicated loan the telecom firm took in 2013 from a consortium of 13 Nigerian banks.
Etisalat Nigeria, Emirates Group disclosed in a filing with the Abu Dhabi Securities Exchange it had transferred 100 per cent of its shares with EMTS Holding BV, a special purpose vehicle established in Netherlands, to United Capital Trustees Limited, legal trustees of the banks.
However, following the resignation a fortnight ago of its immediate past Chairman, Mr. Bello-Osagie, and last week’s reconstitution of the company’s Board of directors, the issue of the trading name the embattled firm would carry brought fresh headache to its management.
EMTS Vice President Regulatory and Corporate Affairs, Ibrahim Dikko, had weighed in with an explanation that the company had a valid and subsisting agreement with its former parent company, to continue using the Etisalat brand regardless of the recent restructuring of the Company.
Mr. Dikko gave a hint as to what the new name of the company could be. He recalled that at the launch of EMTS in Nigeria in 2008, “0809ja” was adopted, to affirm the “Nigerianness” of its origin and the company’s sphere of influence.
Following Thursday’s announcement of the new brand name, PREMIUM TIMES learnt all staff of the company nationwide were sent notices of the change of name. The company’s new name is yet to be unveiled officially to the public.
Early this week, Mr. Dikko said the new brand name would not affect the company’s operations.
New chief executive, Boye Olusanya said the new management was mandated to ensure the business was run as profitable venture.
“What is most important now is to ensure the business runs and meets its obligations. We will focuss on getting the company back on track as soon as possible,” he said.

Comments

Popular posts from this blog

MIXTAPE: DJ DONAK – HIGHWAY WORSHIP (GOSPEL MIX)

DonakTv.com  and  GEG  presents  DJ Donak Maxwell  in this Epic, organized, clean worship gospel mixtape titled  “HighWay Worship (Gospel Mix) . This mixtape contains soul and spirit lifting songs guaranteed to give your life a meaning, not only leading you to God but also to be your worship and prayer tool anytime, any day. According to  DJ Donak Maxwell  –  “I want people to know that being a DJ doesn’t mean i can’t use my God given magical hands to promote his kingdom, Highway Worship (Gospel Mix) tracklist is carefully selected to keep you in the mood of worship from the starting to the end. it is Epic, Organized and contains Clean Worship Songs, i prayed before embarking on this project so i know God will use it not only to promote his Kingdom but to answer all your prayers and heart desires. #BlessedKid” Enjoy the new gospel mixtape below, don’t forget to share the gospel. Audio Player 00:00 00:00 Use Up/Down Arrow keys to inc...

NEWS: RAF Signs New Management Deal.

Lagos based Afro Reggae Artiste RAF has today 4th September 2017 signed a new management deal with Polarc Konsults LTD one of The leading entertainment outfit in the country, Polarc Konsults are also involved with popular group TYP who re presently making waves around the country, the outfit owned by Mr Paul Awurum elder brother to Popular Nollywood actor Charlse Awurum has promised that the company would put in everything to work with the Artistes. Naij music was present to cover the event. Below are some pictures from the event.

#BBNaija – Big Brother’s Real Face Exposed – See How He Looks (Photos)

For today’s challenge the Housemates got asked to visually represent Big Brother’s omnipotent presence in a portrait of him. They were given paint, brushes and a blank canvas then tasked with letting their imaginations “run wild!” HoH, TTT hadn’t even finished reading out the Task and the Housemates were already buzzing! They then started discussing what Biggie might look like and their ideas were quite fascinating and diverse. TBoss thought that he wasn’t “handsome” in the classic sense but was attractive in a “rough” and rugged way in addition to having locs! Bisola thought he was tall, dark and handsome as well as sharp and well dressed. TTT took a more conceptual approach describing that he saw Biggie as a supreme, omnipotent being but one without a face and dual personalities. On the one hand the fact that he “saw all” made him like a diety “with light around his head” but because he was also a trickster TTT said he saw...