Access Bank Takes Over Etisalat Nigeria Over Inability To Repay N541 Billion Loan

June 20, 2017 – Nigerian & Foreign Banks Takes Over Etisalat Nigeria Over Inability To Repay N541 Billion Loan

Effective June 15, 2017, a consortium of Nigerian and foreign banks led by Access Bank Plc has taken over the management of Etisalat Nigeria.

The takeover was initiated over the company’s inability to repay the $1.7billion borrowed to finance major network rehabilitation and expansion of its operational base in Nigeria.

Etisalat Group, the parent company of Etisalat Nigeria, announced the takeover in a filing to the Abu Dhabi Securities Exchange in Abu Dhabi, United Arab Emirate.

2 thoughts on “Access Bank Takes Over Etisalat Nigeria Over Inability To Repay N541 Billion Loan

  1. A Whole emirate company from dubai…most of these folks live on borrowed legacy and rip their customers apart with poor services and high tarriff..hope MTN wont fall yakata..they kept engaging the courts for their inability to pay the fines levelled against them last year

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