[REVEALED] CBN Set To Intervene In Etisalat’s N541.8bn Debt Crisis


The Nigeria Communication Commission on Thursday said the Commission and Central Bank of Nigeria had moved to intervene in the Etisalat loan issue.

The Director of Public Affairs of NCC, Mr Tony Ojobo, in a statement issued in Abuja, said,

“After a meeting on Thursday afternoon in Abuja between the Executive Vice Chairman of NCC, Prof. Umar Danbatta and the CBN Governor, Mr Godwin Emefiele, and his team a decision was reached to intervene in the loan issue between Etisalat Nigeria and a consortium of commercial banks.

“The meeting which was held at the CBN in Abuja was convened by the financial regulator at the instance of NCC and the telecom regulator to further deliberate on how best to stop the attempt by the banks to take over Etisalat.

“At the end of the meeting, the CBN agreed to invite Etisalat management and the banks to a meeting tomorrow, Friday, toward finding an amicable resolution.”

READ: [REVEALED] Three Nigerian Banks Set To Take Over Etisalat Today Over N541bn Debt

Meanwhile, the Head of Public Relations, Etisalat Nigeria, Ms Oluseyi Osuntedo, dispelled the talk that banks had taken over the company.

Osuntedo said in Lagos that discussions were still ongoing between the banks and the company.

She said, “Discussions are going on; nobody is taking up the company.

“It is not true that we are being picketed, whoever gave the information is not telling the truth,” she said.

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