The Board of the Nigerian Communications Commission on Thursday have directed that telecommunications companies must henceforth meet certain financial and technical standards before they can operate in the country.
Stating this while giving directives to the NCC management as regards the outstanding $589m from the $1.2bn loan obtained from a consortium of 13 banks by Etisalat Nigeria in 2013.
According to the PUNCH, the Chairman of the commission’s board, Senator Olabiyi Durojaiye, In a correspondence, indicated that the agency took the decision after an emergency meeting on Wednesday “to review the Etisalat issue in its entirety.”
Durojaiye said, “The board commended the NCC management for its handling of the Etisalat issue till date. The board also commended the cooperation and inter-agency collaboration exhibited by the Central Bank of Nigeria as a fellow regulator.
“The board directed the management to ensure at all times that telecoms companies meet the financial and technical integrity standards expected of them.