Fidelity bank banner Bayelsa State banner
NCC, CBN rescue Etisalat

By News Express on 11/03/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,078


 

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have succeeded in halting an attempt by Etisalat’s creditors to take over the company.

A statement by the spokesman for NCC, Tony Ojobo, said reprieve came for the mobile network operator during a meeting held on Friday.

According to the statement, receivership was completely taken off the table in a meeting that was very productive and constructive.

“The meeting, which held at the CBN Office in Lagos, had the consortium of banks being owed and Etisalat in attendance. The banks and the mobile network operator agreed to concrete actions that will bring all parties closest to a resolution.

“The CBN and NCC were able to secure for Etisalat the necessary oxygen to enable it continue to meet urgent operational expenses.

“CBN Governor, Mr Godwin Emefiele, who chaired the meeting, was firm in declaring what needed to be done by both parties towards a quick resolution. The NCC equally made it clear that everything necessary must be done to protect the 23 million Etisalat subscribers and also protect the telecom industry to prevent potential investors from developing cold feet.

“Meanwhile, in a renewed effort to ensure that Etisalat remains in business while the consortium of banks meet their obligations to their customers, a meeting will hold on March 16 to agree on a payment restructuring path going forward.

“The NCC will lead the CBN in a possible crucial meeting with Etisalat’s shareholders anytime soon,” the statement read. (Channels TV)

 


Source News Express

Posted 11/03/2017 12:49:01 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
BSN translates Bible into 24 Nigerian Languages

Work begins on Onitsha Shoprite

CNPP welcomes Buhari, tasks him to relieve Nigerians...

Buhari gives condition to sign 2016 Budget

Kaduna joins campaign to end violence against children...

Trapped gold miners resurface after missing 5 days...

Death penalty awaits kidnappers in Cross River

RIGHTSView: Has the Nigerian educational system collapsed?

Second tenure: FETHA debunks allegation of fraud, corruption,...

Brace up, Osinbajo tells ministers

Forex Market gets $210m lift from CBN

Ogun warns applicants into School of Nursing against...

 

Latest News Buhari blows hot upon return from London, vows to jail more looters Rivers bye-election suspended due to widespread violence Soldiers, suspected herdsmen exchange gunfire in Benue Osun 2018: 13 APC elders caucus, senatorial aspirant defect to ADP 23 minors rescued from Boko Haram custody, handed over to UNICEF Without restructuring, Nigeria may never survive, says Ohanaeze 2019 Election Budget: N’Assembly joint committee reconvenes August 27 Nigerian student's paper glove makes world museum Osinbajo signs three bills into law I have no plan to dump APC — Madumere •Dismisses purported defection to ADC Landslide threatens Anambra community Don’t play politics in Saudi Arabia, NAHCON cautions pilgrims •Says no pilgrim left in Nigeria

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (378,522 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (367,125 views) Shameless Genevieve Nnaji exposes breasts in public (296,867 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (242,259 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (223,198 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,396 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (192,922 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (175,125 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (159,868 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,666 views) Lagos plane crash: Journalist releases victims’ names (152,979 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,265 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,461) Business Verdict (48) Columnists (912) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (528) Features (638) Global Business Monitor (295) International (2,278) Interview (162) Live Commentary (28) Love Matters (134) News (38,129) Opinion (1,060) Pidgin (11) Politics (6,092) Religion (824) Sports (1,650) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Real Madrid vs Atletico Madrid 2-4 Highlights and Goals

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement