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$1.2bn debt: Etisalat Loses 2.9 million Subscribers

One of Nigeria’s major telecommunications companies, Etisalat, lost over 2.9 million subscribers in the last two quarters. The Punch reported that as of September 2016, there were 22.5 million active subscribers on the network but the figure dropped to 20.8 million by December. This represents...

GTBank Owed $138m by Etisalat

Guaranty Trust Bank Plc (GTBank) is exposed to Etisalat Nigeria to the tune of N42 billion ($138 million) via a secured loan. According to Reuters, the Chief Executive Officer, GTBank, Mr. Segun Agbaje, who disclosed this, said the debt would be restructured. The Nigerian affiliate of...

How NCC, CBN aborted takeover of Etisalat over N200bn loan

The Nigerian Communications Commission (NCC), in partnership with the Central Bank of Nigeria (CBN), has successfully staved off the takeover of Etisalat Nigeria telecommunications company by a consortium of banks over a loan of N200 billion. The Executive Vice Chairman of the NCC, Prof. Umar...

$1.2bn Debt: Etisalat May Exit Nigeria

Abu Dhabi telecoms group Etisalat may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2 billion loan, but wants the company’s debt restructured before it does so, it was gathered. The Central Bank of Nigeria (CBN) and telecoms regulator, the Nigerian Communications...

N377bn Indebtedness: Succour for Etisalat

Telecommunications, which is a key component of Information and Communications Technology (ICT), is currently driving economies globally, owing to its huge potentials. But one of the telecoms operators in Nigeria, Etisalat precisely, last week, came under serious threat by its creditors who were moved to...

Poor service: NCC vows stiffer sanctions against GSM operators

The Nigerian Communications Commission (NCC) has warned telecommunication providers in the country to improve the quality of their networks and stop extorting Nigerian consumers. The regulatory agency said the body was aware of the challenges Nigerians were facing in the telecoms sector, warning  that...