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Tag Archives: Etisalat Nigeria

How Etisalat experience forced NCC to begin telecoms stress test

The telecoms regulator, Nigerian Communications Commission (NCC), has technically begun stress test to weigh and ascertain the liquidity status of mega telecoms to avoid the repeat of the 9Mobile experience, formally Etisalat Nigeria. Though the board chairman of the Commission, Senator Olabiyi Durojaiye, had during the initial stage of Etisalat crisis hinted on the test, the Executive Commissioner in charge ...

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9Mobile unveils website, www.9mobile.com.ng, says life begins @9

9Mobile

Formerly Etisalat Nigeria, now 9Moblie today, Tuesday, July 18, 2017 unveiled its new website, www.9moblie.com.ng. In a telephone interview with a senior official of the telecoms industry regulator, Nigerian Communications Commission (NCC), the staff who pleaded anonymity said “NCC was aware of the changes, the new site and has given approval ahead of time”. It would be recalled that Business ...

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Etisalat’s 18.5m subscriber base bad for foreign buyers, good for Glo—BH Analysis

Etisalat banks

Contrary to speculations that Etisalat Nigeria loan default crisis will finally terminate with foreign investors coming to acquire its assets and liabilities, analysis of facts and figures on ground has shown that the possible deal in this circumstance is merger with a local operators. A study carried out by Business Hilights Economic Research Team (BHERT) has suggested that foreign investors ...

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Etisalat Experience forcing NCC board to think stress test for telecoms

NCC Borad Cm

Considering the near financial insolvency troubling Etisalat Nigeria in the last couple of months following its inability to pay back $1.2bn syndicated loan from a consortium of 13 banks, the Board of the Nigerian Communications Commission (NCC) is currently looking at the option of subjecting all telecoms operators to financial stress test at intervals. Details gathered by Business Hilights after ...

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Etisalat’s destiny to be decided in six months as new appointees take charge

Nnanna Etisalat

Though the safety of subscribers is now guaranteed, issues surrounding who will own Etisalat Nigeria is expected to be figured out within the next six months of the transition managers headed by former deputy governor of the Central bank of Nigeria (CBN), Dr. Joseph Nnanna. Otherwise, the current ad-hoc seven-member board will among other things determine the affairs of the ...

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Why Nnanna, Ex-CBN Dep. Gov. was appointed to lead turnaround of Etisalat Nigeria

Nnanna Etisalat

More details have emerged on the choice the former deputy governor, Financial System Stability of Central Bank of Nigeria (CBN), Dr. Joseph Nnanna, as the new chairman of Etisalat Nigeria. It would be recalled a new board of directors and management were hurriedly reconstituted for the embattled telecoms made of representatives of the Central Bank of Nigeria (CBN) and the ...

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CBN makes key management appointments at Etisalat to drive transition process

Etisalat

The Central Bank of Nigeria (CBN) on Tuesday, announced in Acting Capacity, one of its deputy governors, Dr. Joseph Nnanna as Chairman for a replacement of the founding chairman of Etisalat Nigeria, Mr. Hakeem Bello-Osagie who resigned late last week. Though analysts’ contacted by Business Hilights for a review of the emerging development found it hard to see the latest ...

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Etisalat: Window of hostile acquisition widens with Belo-Osagie’s resignation

Etisalat

Following the resignation of the Chairman of Etisalat Nigeria, Hakeem Belo-Osagie, from the telecommunications company over the $588.6m debt owed a consortium of 13 banks, pundits following the development has argued that chances of a possible acquisition of the company by new investors are getting brighter. In statement from Etisalat Nigeria explained that Belo-Osagie had planned to leave immediately the ...

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Etisalat’s loan: CBN, NCC should stop tossing lenders’ around—Banks’ shareholders’

Leading capital market pundits and leadership structures of shareholders associations have waded in to the Snell speed handling of the $1.2bn syndicated loan default between Etisalat Nigeria and a consortium of 13 banks. Running for months now, Etisalat Nigeria had been in talks with Nigerian banks to restructure a $1.2bn loan after missing repayments, but there are indications that a ...

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Etisalat claims 42% debt cleared, chides reports of investigation on use of loan

NCC Etisalat

In continuation of the drama and counter claims trailing the final fight for the soul of Etisalat Nigeria, the company claimed on Thursday that about 42 per cent (about $504 million) of the original loan package of $1.2 billion (about N377.4 billion) from a consortium of Nigerian banks has since been repaid. However, Exotix Capital report in London on Thursday ...

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