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Etisalat Nigeria has changed its brand name to 9Mobile as the company seeks to break away from the shadows of Abu Dhabi-based Etisalat Group and chart a new course following a loan dispute with Nigerian banks.

Top executives of Etisalat Nigeria agreed the name change after a management meeting in Lagos on Thursday.  

On Monday, Etisalat Group terminated its management and technical contracts with Etisalat Nigeria after the Central Bank of Nigeria and the Nigerian Communications Commission intervened last week in a dispute between Etisalat Nigeria and a consortium of Nigerian banks over a $1.2 billion loan.

Etisalat Group had given its erstwhile Nigerian unit three weeks to reach a new technical services agreement, covering the use of the Etisalat brand, after all UAE shareholders – including Mubadala – pulled out of the Nigerian telecoms firm and left its board and management.

Hatem Dowidar, Etisalat Group CEO, told Reuters that the new agreement is short-term as the Abu Dhabi-based company intends to phase out its brand from Nigeria in the near future.

Etisalat Nigeria is the fourth largest mobile operator in Nigeria, with 18.5 million subscribers and a 12.76 percent market share. MTN Nigeria has 54.92 million subscribers (37.89 percent); Globacom has 37.37 million subscribers (25.78 percent); and Airtel has 34.16 million subscribers (23.57 percent).