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Nigerian Senate to probe Etisalat Nigeria loan default

Wednesday 25 October 2017 | 08:42 CET | News
Nigeria's Senate has voted in favour of launching an investigation into the default on a USD 1.2 billion loan earlier this year by Etisalat Nigeria and into how the funds were used, Reuters reported.  Etisalat Nigeria, now called 9mobile, took out a syndicated loan from thirteen Nigerian banks but failed to make repayments earlier this year. The Senate said its aware of allegations that the loans had been diverted to other uses not related to the business, as there was no evidence of what the company did with the loans. 

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Categories: General
Companies: Etisalat Nigeria
Countries: Nigeria
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