Why We Saved 9Mobile – CBN Governor
Former Etisalat Nigeria, now known as 9Mobile is not a Nigerian government company.
Nonetheless, the Central Bank of Nigeria and Nigerian Communications Commission intervened to save the company from being taken over by its creditors.
This intervention, according to the Governor of the CBN, Godwin Emefiele was done as 9mobile is important to the stability of Nigeria’s economy.
Emefiele told journalists after a two-day monetary policy committee meeting that held in Abuja that there was no way the regulators could allow the company to be “dismembered” by its creditors.
The CBN governor stated that with the processes implemented, a new investor would emerge before the end of the year.
He said, “I am optimistic that the sale process is still on track; there is a determination that the sale must take place before December 31, 2017.
“We remain focused on it. There is a rumour that Barclays Africa, the financial advisers, want to withdraw from the transaction. If Barclays decide to do so, they will do so in a letter. Barclays was hired in a letter and if they decide to withdraw, they will do so in form of a letter. But as I speak with you, there is no letter from Barclays.
“We remain focused and I will say that we are holding constant meetings with other important stakeholders to see a harmonious transfer of ownership from the existing owners to new owners by December 31, 2017,” said Emefiele.
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