It is not looking good for Etisalat these days.
According to The Guardian, mobile fintech firm, V-Exchange Limited, is suing Etisalat Nigeria for N2 billion for alleged copyright infringement. V-Exchange specialises in providing instant finance solutions to individuals and corporate entities, and the story is they offered to partner with Etisalat to launch an instant loan service. According to them, Etisalat one-upped them by launching a similar service – KwikCash – without permission or due credit. Hmm.
The V-Exchange co-founder said he was however shocked when it heard that Etisalat had gone ahead to launch the instant loan service without his approval.Also speaking at the media briefing, the Chief Executive Officer, V-Exchange, Mrs Kemi Ayinde, noted that well-wishers had called to congratulate her on the successful launch of the product not knowing that her firm was not involved with the launch.
Etisalat denies the allegations.