NCC, CBN meet over Eisalat’s $1.2bn debt
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Nigeria's telecoms regulator met with the Central Bank of Nigeria, CBN, on Thursday over Etisasat's $1.2 billion debt and a group of local lenders in order to forestall a possible takeover of the company by the banks.
Nigeria’s telecoms regulator met with the Central Bank of Nigeria, CBN, on Thursday over Etisasat’s $1.2 billion debt and a group of local lenders in order to forestall a possible takeover of the company by the banks.
Three Nigerian banks, Guaranty Trust Bank, Access Bank and Zenith Bank had vowed to take over the telecom company over the huge debt.
The Chairman of the Nigerian Communications Commission (NCC), Umar Danbatta, met with the CBN governor Godwin Emefiele with the aim of intervening to protect subscribers and investors, the NCC said in a statement.
The statement said the CBN has invited the management of Etisalat Nigeria and the consortium of 13 lenders to a meeting on Friday to find an amicable resolution.
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