CBN, NCC step in over Etisalat Nigeria takeover threat

March 10, 2017 6:24 am90 commentsViews: 11
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ABUJA, (CAJ News) – THE Central Bank of Nigeria (CBN) has invited Etisalat management and some banks to a meeting to find a resolution over monies the mobile operator owes creditors.
The differences with the banks owed have sparked possibilities of a takeover of Etisalat.
After a meeting Thursday afternoon in Abuja between the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, and the Governor Godwin Emefiele and his team, a decision was reached to intervene in the loan issue between the warring parties.
The financial regulator, at the instance of NCC, arranged the meeting held at the CBN Headquarters in Abuja.
“At the end of the meeting, the Central Bank of Nigeria agreed to invite Etisalat management and the banks to a meeting tomorrow, Friday, towards finding an amicable resolution,” said Tony Ojobo, NCC Director of Public Affairs.
He said NCC was “worried” about the fate of the over 20 million Etisalat subscribers and the “wrong signals” this might send to potential investors in the telecom industry.
CAJ News

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