PAYUP || NCC, CBN Prevent Etisalat’s Takeover ‘Over N541.8bn Debt’11 Mar 2017
NCC, CBN Prevent Etisalat’s Takeover ‘Over N541.8bn Debt’
The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have gotten a reprieve for Etisalat Nigeria on the loan default crisis facing the mobile telecoms operator.
Friday’s meeting succeeded in halting the attempt by Etisalat’s creditors at bringing it under any form of takeover.
Receivership was completely taken off the table in a meeting that was very productive and constructive.
The meeting, which held at the CBN office in Lagos, had the consortium of banks being owed and Etisalat in attendance.
The banks and the mobile network operator agreed to concrete actions that will bring all parties closest to a resolution.