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Farooq

Posts Tagged "telecoms"

HomePosts Tagged "telecoms"

By Stanley Carvalho ABU DHABI, July 10 (Reuters) – Telecoms group Etisalat has terminated a management agreement with its Nigerian arm and given the business time to phase out the Etisalat brand in Nigeria, the chief executive of Etisalat International told Reuters on Monday. Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after […]

Akinpelu Dada, Oyetunji Abioye and Ozioma Ubabukoh The ownership structure of Etisalat Nigeria is now set to change after talks with lenders to restructure its $1.2bn (N541bn) loan failed. This came months after discussions with a consortium of 13 banks, including Guaranty Trust Bank Plc and Access Bank Plc, to restructure the loan after the […]

Stanley Opara with agency report Local banks being owed by Etisalat Nigeria have opposed a proposal by the company to convert part of the $1.2bn loan from dollars to naira and want the Abu Dhabi telecoms group, Etisalat, and its other shareholders to recapitalise the firm instead. A source and banker with knowledge of the […]

  • CBN

By Emma Okonji The Central Bank of Nigeria (CBN), has halted the plan by a consortium of 13 local banks to take over the operations of Etisalat for failure to continue with the refinancing of the loan that the telecoms company took from the banks in 2013. The halt on the planned takeover, was the […]

By Chijioke Ohuocha LAGOS, March 8 (Reuters) – The Nigerian affiliate of Abu Dhabi-listed telecoms company Etisalat is in talks with local banks to renegotiate the terms of a $1.2 billion loan it took out four years ago after missing a payment, a senior executive told Reuters. Ibrahim Dikko, vice president for regulatory affairs at […]

  • dollar to naira

Airtel Nigeria has called on the Federal Government to assist telecommunications operators in accessing foreign exchange, saying that some manufacturing companies in the country are already enjoying such privilege. The telecoms company stated this during a reception held in Lagos to honour the Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta. It […]