Etisalat may leave Nigeria over $1.2bn loan default

Stanley Opara with agency reportAbu Dhabi telecoms group, Etisalat, may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2bn loan, but wants the company’s debt restructured before it does so,Reutersquoted two sources as informing it on Monday.The Central Bank of Nigeria and the Nigerian Communications Commission on Friday agreed with local banks to pursue a default deal rather than a receivership for Etisalat Nigeria so as not to deter investors and to avoid a wider debt crisis.

Comments

Post a Comment

Popular posts from this blog

DSS detains five personnel over teachers’ brutalisation in Calabar

Mudiaga Affe, Calabar Five personnel of the Department of State Services have been detained in connection with thebrutalisation of teachersat the Federal Government Girls College in Calabar.It was learnt on Wednesday that the five officials were being detained in the cell of the Cross River State Command of DSS in Calabar. A DSS source, who craved anonymity, said the affected personnel were arrested almost immediately the incident occurred on February 2 for going against the rules and regulations.
Read more

Man bags 2 years imprisonment for impersonating Peace Corps commandant.

A magistrate court sitting in Obubra, Cross River State has sentenced one Mr. James Ochiche to two years imprisonment for impersonating the state Commandant of Nigeria Peace Corps.In a two count charge in suit number MC/779C/2013, Ochiche was accused by the state command of the organization of impersonating as a deputy commandant as well as collecting N5000 to N8000 from unsuspecting members of the public as service charge for recruitment into the service. The presiding Judge, Adome Etaba in his judgment.
Read more

Over 1,000 Kenyan health workers down tools in Mombasa

More than 1,000 clinical officers,nutritionists, laboratory technicians, mortuary attendants and other 13 cadres of health workers went on strike on Thursday in Kenya's coastal city of Mombasa, demanding allowance harmonisation.The health staff left their work stations complaining that the national government awarded nurses a quantum service allowance increase last December and forgot other health workers in the deal. According to Xinhua, they said they are being discriminated against and treated as outside
Read more