0
Wireless

NCC, Central Bank of Nigeria intervene in Etisalat crisis

Tuesday 27 June 2017 | 10:58 CET | News
The Central Bank of Nigeria (CBN) says it acted in collaboration with the Nigeria Communications Commission (NCC) to intervene in the crisis between Etisalat and a consortium of thirteen Nigerian banks over a syndicated loan of about USD 1.2 billion in order to prevent job losses and asset stripping, reports BusinessDay.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Mobile & Wireless
Companies: Etisalat / Etisalat Nigeria / IHS Nigeria / IHS Towers / NCC
Countries: Nigeria
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Airtel, Helios raise concerns that 9mobile sale process lacks transparency - report

Published 05 Feb 2018 10:13 CET | Nigeria
Bharti Airtel International, owners of Airtel Nigeria and UK private equity firm, Helios Investment Partners, have petitioned the ...

Nigerian Senate to probe Etisalat Nigeria loan default

Published 25 Oct 2017 08:42 CET | Nigeria
Nigeria's Senate has voted in favour of launching an investigation into the default on a USD 1.2 billion loan earlier this year ...

Central Bank of Nigeria stops banks from charging for bulk transfer text alerts

Published 09 Oct 2017 10:29 CET | Nigeria
Commercial banks can no longer take Short Message Service (SMS) charges on bulk bank transfers done through the Real Time Gross ...

Central Bank of Nigeria changes mobile money transaction limits

Published 14 Sep 2017 10:12 CET | Nigeria
The Central Bank of Nigeria (CBN) has reviewed the daily mobile money wallet transaction and balance limit, as well as the Bank ...

ALTON backs change of brand name for Etisalat Nigeria

Published 12 Jul 2017 11:20 CET | Nigeria
The Association of Licensed Telecommunications Operators of Nigeria says the change of Etisalat Nigeria's brand name is essential ...

NCC says telcos must meet financial standards

Published 10 Jul 2017 09:45 CET | Nigeria
The Nigerian Communications Commission (NCC) board says telecommunications companies operating in Nigeria must henceforth meet ...

NCC says Etisalat and banks resolve USD 1.2 bln debt issues

Published 06 Jul 2017 09:31 CET | Nigeria
The Nigerian Communications Commission (NCC) said mobile operator Etisalat and its creditors have successfully reached an ...

Etisalat Nigeria appoints new board, CEO and CFO

Published 05 Jul 2017 10:51 CET | Nigeria
Etisalat Nigeria said that as a result of the current restructuring efforts, a new board has been constituted. It comprises ...

ALTON opposes state bailout for Etisalat Nigeria

Published 04 Jul 2017 11:08 CET | Nigeria
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has ruled out the bailout option for Etisalat, which ...

Etisalat Nigeria CEO, CFO resign amid crisis

Published 04 Jul 2017 09:27 CET | Nigeria
Etisalat Nigeria's CEO Matthew Willsher, and chief financial officer (CFO), Wole Obasunloye have resigned deepening the crisis ...

Etisalat Nigeria partners to launch KwikCash

Published 03 Jul 2017 09:14 CET | Nigeria
Etisalat Nigeria and Support Microfinance Bank have simplified access to loans through the launch of its new service KwikCash. ...

Orange Telecom, Vodafone interested in Etisalat Nigeria

Published 03 Jul 2017 08:16 CET | Nigeria
Orange Telecom and Vodafone are seeking to purchase 65 percent of Etisalat Nigeria following the departure of the UAE-based ...

Belo-Osagie resigns as Etisalat Nigeria chairman

Published 03 Jul 2017 08:11 CET | Nigeria
Etisalat Nigeria chairman Hakeem Belo-Osagie, has resigned his position from the telecommunications company over a NGN 1.2 ...

Nigerian aviation body says telco equipment needs permits

Published 29 Jun 2017 14:12 CET | Nigeria
The Nigerian Civil Aviation Authority (NCAA) is insisting that telecommunication operators must obtain a permit from the agency ...

Mubadala, Etisalat directors may face charges – report

Published 27 Jun 2017 10:48 CET | Nigeria
A banking consortium owed by Mubadala Group and Etisalat Group may be planning to press criminal charges of reckless and ...

UAE's Mubadala pulls out of Etisalat Nigeria

Published 27 Jun 2017 10:40 CET | Nigeria
The Abu Dhabi state investment fund Mubadala has pulled out of Etisalat Nigeria after the telecoms firm failed to reach a deal ...

Bank sources deny plan to take over Etisalat Nigeria

Published 26 Jun 2017 10:04 CET | Nigeria
A consortium of banks being owed USD 1.2 billion by Etisalat Nigeria has no intention of taking over ownership of the telecoms ...

Banks seeks probe into Etisalat Nigeria

Published 22 Jun 2017 14:20 CET | Nigeria
A consortium of thirteen banks, involved in Etisalat Nigeria's USD 1.2 billion loan, is seeking the government's intervention to ...