The Central Bank of Nigeria on Friday said it intervened in the crisis between Etisalat and a consortium of 13 Nigerian banks over a syndicated loan of about $1.2bn granted the telecom company to save over 4,000 jobs and stripping of the company’s assets. The CBN Spokesperson, Mr. Isaac Okorafor, said this in a statement […]
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Association of 13 banks involved in Etisalat Nigeria loan on Thursday refuted reports that they have taken over the operations of the company. A management source close to the banks who pleaded anonymity said in Lagos that there was no truth in the report making the round. The source said that the banks’ major interest […]
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Etisalat Nigeria has said it is expecting the closure of discussion about the resolution of issues around its $1.2billion indebtedness to a consortium of local lenders this week. Its Vice President, Regulatory & Corporate Affairs, Ibrahim Dikko, said the telco was aware of news reports that Mubadala Development Company, the majority shareholder of the company, […]
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The group of 13 banks being owed by Etisalat Nigeria has roundly rejected an offer of five per cent equity in the telecommunications firm in lieu of the more than one $1billion trade credit extended in 2013, according to BusinessDay investigatioins. The equity offer was made in a communication to the banks late on Friday.
Read More Etisalat Nigeria’s estimated 23million subscribers can now heave a sigh of relief as the anxiety over its possible takeover by 13 creditor banks has now been laid to rest with its parent company, Etisalat Abu Dhabi, showing stronger willingness to inject fresh funds to recapitalise its subsidiary. This was part of the outcomes of a […]
Read More Etisalat Nigeria’s $1.2bn debt burden may have taken a toll on its operations as over 2.9 million subscribers left its network in six months, OZIOMA UBABUKOH reports One of Nigeria’s major telecommunications companies, Etisalat, lost over 2.9 million subscribers in the last two quarters. Findings by correspondent showed that as of September 2016, there were […]
Read More Telecommunications giant, Etisalat reported strong figures for the first quarter, noting its “ability to sustain momentum in spite of vastly changing global industry trends”. According to Saleh Al Abdooli, the group’s CEO , “Etisalat has continued its efforts to align its business with the digital mandate it has undertaken, by shifting the operating model, investing […]
Read More Etisalat Nigeria has denied the claim of patent infringement allegation leveled against it by V-Exchange Ltd. The management of V-Exchange claimed it sent a business proposal dated October 27, 2016 to Etisalat and subsequently met with Etisalat’s representatives on November 23, 2016, where it informed Etisalat of some of its products with a view to […]
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Active telecommunication service users in Nigeria decreased from 155.1 million in January to 154. 1 million in February, Nigerian Communications Commission (NCC) made this known. The NCC noted a decrease of 993,063 in the number of telecoms users across the country in January. “Active users of telecommunications services in the country increased to 154,120,484 in […]
Read More As a demonstration of its commitment to excellence and global best practices, Etisalat has been awarded the prestigious ISO 14001:2004 EMS international standards certification. The certification makes Etisalat the first telco in the country to successfully implement the ISO 14001:2004 standard. The certification, which was awarded to Etisalat Nigeria by Bureau Veritas, a global leader […]
Read More The Nigerian Communications Commission (NCC), in partnership with the Central Bank of Nigeria (CBN), has successfully staved off the takeover of Etisalat Nigeria telecommunications company by a consortium of banks over a loan of N200 billion. The Executive Vice Chairman of the NCC, Prof. Umar Garba Danbatta, disclosed this yesterday at a news conference shortly […]
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Etisalat Nigeria was on Friday off the hook of been taken over by three of the most prestigious Banks in the nation as a meeting convened by the Central Bank of Nigeria and the Nigerian Communications Commission gave a quick resolution to the loan crisis facing the mobile network operator. The NCC said on Sunday that […]
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