Future trouble averted as NNC steps in 9mobile sales bid

The Nigerian Communications Commission (NCC)’s concern for the sustenance of 9Mobile business after its sale is based on the need for “the continuity of the company for the betterment of the telecom industry, subscribers, labour force and the interest of Nigeria as a whole.

NCC set rules of engagement that would not only ensure the transparent sale of 9Mobile but also the sustenance of its business after its take over. This is as a result of the untidy handling of the bid for the telecommunications firm and the commission’s determination to salvage the deteriorating situation.

The rules of engagement were contained in a letter from the Chairman of its Governing Board, Senator Olabiyi Durojaiye to Governor of Central Bank of Nigeria (CBN), Godwin Emefiele.

The letter is partly in recognition of the fact that 9Mobile is indebted to a consortium of banks regulated by the CBN, even as the NCC and the apex bank have been collaborating to ensure the successful sale of the firm.

One of the rules stated in the letter is “that any company that would quality as successful bidder for 9Mobile has the technical competence apart from financial capacity to turn it around and not further compound its problems.”