JUST IN: Etisalat Nigeria Announces New Name, '9Mobile Telecom'

Etisalat Nigeria has quickly complied to the demand for a new name after failure for sort out $1.2billion debt. Thus, the new name of the telecommunication brand has been announced as 9Mobile Telecom.

The demand for a change of name was handed down last week by the Etisalat Group in the United Arab Emirates, which gave three weeks ultimatum.

The Central Bank of Nigeria last week took over the company following the failure of the company to pay up a debt of$1.2 billion owed a consortium of 13 banks.

Consequently, the CBN has sent its Deputy Governor, Joseph Nnanna to Etisalat as its new Chairman.
The CEO is Boye Olusanya, while Funke Ighodaro was appointed company’s the Chief Financial officer.
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.