The Nigerian Communications Commission and the Central Bank of
Nigeria have gotten a official pardon for Etisalat on the loan non-payment disaster
in front of the company.
Mr tony Ojobo The
Director of Public Affairs of NCC, in a declaration on Saturday in Lagos, said
that the official pardon came subsequent a gathering call together by CBN and
NCC to discover a rapid decision to the disaster.
He said, “Friday’s
assembly do well in uncertain the effort by Etisalat’s creditors at fetch it
under any form of conquest
“Receivership was totally
in use off the table in a gathering that was very creative and helpful.
“The gathering,
which held at the CBN office in Lagos, had the association of banks being due
and Etisalat in number present.
“The banks and the
mobile network worker approved to real actions that will bring all parties neighboring
to a decree.”
He said that CBN
and NCC were able to protected for Etisalat the essential “oxygen” to allow it carry
on to get together pressing prepared fixed cost.
Mr Ojobo said that
CBN director, Mr Godwin Emefiele who places the gathering, was solid in announce
what desirable to be complete by both parties towards a fast decision.
He said that NCC uniformly
made it obvious that the whole thing essential must be done to defend the 23
million Etisalat subscribers.
The manager said
that there was also the require to defend the telecom industry to put off latent
investor from rising freezing feet.
According to him, attempt
has been made to make sure that Etisalat remnants in business while the group
of banks get together their duty to their clients.
”A gathering will
hold on March 16 to have the same opinion on a imbursement reform pathway going
ahead.
”he said The NCC
will show the way the CBN in a likely vital gathering with Etisalat’s
shareholders anytime shortly.
On March 8, there
was an effort by a group of banks to take over Etisalat, because of its
N541.8bn arrears.
A group of some overseas
and Nigerian banks, as well as Guaranty Trust Bank, Access Bank and Zenith
Bank, have been having in a row clash
with the mobile telephone operator, over a loan capacity adding up 1.72 billion
dollars (about N541.8 billion) acquire in 2015.
The banks said
their effort to pull through the loan by all means, was coal by the difficulty
from the Asset Management Company of Nigeria (AMCON), demanding instant slash downward
on the speed of their non-performing loans.
NCC come into view
not to be positively liable to the conquest suggestion; as it supposed that
Etisalat is not only a practical going worry,
but also eager and clever to discuss
the servicing of its loans.
Etisalat is
Nigeria’s fourth major telecommunications worker with about 21 million
subscribers as at January 2017.
It begin business
in Nigeria in 2009.
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