over by 3 banks namely GTB, Zenith and Access. To add pepper to the injury, NCC
according to reports, have approved the takeover.
Nigeria as a country is owing. But what baffles me mostly is that how did
they manage their profits?
loan facility totaling $1.72 billion (about N541.8 billion) in 2015 from Zenith, Guarantee Trust Bank and
Access bank to finance a major network rehabilitation and expansion of its
operational base in Nigeria. However, the company failed to meet the debt
deadline in 2016.
their inability to fulfil its obligation to the banks on the current economic
recession in Nigeria. These 3 banks are bench on taking over the 4th
largest telecom provider in Nigeria, Etisalat.
insider from NCC said the commission has approved the takeover which is
expected to take place today.
is not a good news but we still await more updates on this.