A consortium of local banks may assume the management of Etisalat Nigeria over unpaid loans extended to the telco about two years ago.
National Daily gathered that the development is a fallout of the difficulty being faced by the telco in settling the debt.
Investigation also revealed that the CBN has already arranged a meeting with executives of the affected banks on the issue.
It was learnt that the creditor banks plan to approach the telecom industry regulator, the Nigerian Communication Commission (NCC) “to update the Executive Vice Chairman, Prof Umar Danbatta, of the situation before any overture is made to possible buyers” for the
But a source close to the telco told National Daily that there is no planned takeover, insisting that its management was intact, and working round the clock to offer quality services to its over 20 million customers across the country.
While confirming the Etisalat’s indebtedness, a Senior Executive of the company said the economic headwind had made the repayment a little difficult.
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