The Nigerian Communications Commission and the Central Bank
of Nigeria have gotten a reprieve for Etisalat on the loan default crisis facing
the company.
The Director of Public Affairs of NCC, Mr Tony Ojobo, in a
statement on Saturday in Lagos, said that the reprieve came following a meeting
convened by CBN and NCC to find a quick resolution to the crisis.
He said, “Friday’s meeting succeeded in halting the attempt
by Etisalat’s creditors at bringing it under any form of takeover
“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.”
He said that CBN and NCC were able to secure for Etisalat
the necessary “oxygen” to enable it continue to meet urgent operational
expenses.
Source:Punch Ng
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