The Federal Republic of Nigeria

Danbatta said “the over $2B Foreign Direct Investment (FDI), by Mubadala of United Arab Emirates (UAE) was hanging, while 20million Subscribers and over 2000 workers would have been affected if we did not intervene in the matter with a view to finding an amicable resolution” Resolving the issue was also partly to forestall any form of disincentive to the FDI, Danbatta explained.

According to him, if the company had gone under, this would have created a social problem especially with the job of over 2,000 Nigerians on the line. He added that such a situation was capable of creating security challenges for the Country.

Prof. Danbatta further stated that NCC collaborated with CBN to avert a looming economic disaster adding “we want to see a viable and thriving 9Mobile and we want to cooperate with you so that things can move seamlessly and be successful”, he said. Danbatta further assured the 9mobile team of the Commission’s cooperation to grow its network.

Earlier, the Chief Executive of 9Mobile, Mr. Boye Olusanya, thanked the EVC and the NCC Management for its cooperation that led to a seamless change and asked for concessions especially in the area of spectrum assignment, revisit of data floor price, review of interconnect rates to asymmetric platform, concessional foreign exchange access, national roaming and others “in order for 9Mobile to shore up its revenue and meet its financial obligations accordingly.”

Signed

Tony Ojobo
Director, Public Affairs, NCC.