Etisalat Wants Brand Name Removed Within 21days As Plans To Leave Nigeria Looms
July 11, 2017
Since some banks took over Etisalat Nigeria, it hasn’t really gone well with the Big Telco Company. There have been fears that the end is near for Etisalat Nigeria. Although the late response to the debt of $1.2bn has erupted all this and the Abu Dhabi-based company wants an exit out of Nigeria.
Etisalat Group in June informed Abu Dhabi Securities Exchange of Etisalat Nigeria failure to reach an agreement on the restructuring of the deal which the Central Bank of Nigeria (CBN), Nigerian Communications Commission and Officials of Telcos resolve the debt after they met June 21.
Nine days later, Chairman of Etisalat Nigeria Mr Hakeem Bello Osagie resigned as Chairman of Etisalat Nigeria following the approval of restructuring the plan for the company.
Yesterday, the company demanded that its brand name (Etisalat Nigeria) should be phased out within 3 weeks. According to Etisalat’s International Chief Executive Officer, Mr Hatem Dowidar, the company had terminated its management agreement with Etisalat Nigeria. He also added that talks are ongoing with Etisalat Nigeria to provide Technical support for the next 21 days before it brand name is phased out.
Hmmmm. Actually, this is one of the best Networks in Nigeria. I can remember when they came to Nigeria, they made many customers rich and this is what they got at last. This is so sad. Well, what do you have to say?
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