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Nigerian regulators meet over Etisalat loan issue
March 9, 2017 / 4:15 PM / in 9 months

Nigerian regulators meet over Etisalat loan issue

ABUJA, March 9 (Reuters) - Nigeria’s telecoms regulator met with the central bank on Thursday to discuss a $1.2 billion loan renegotiation between Etisalat Nigeria and a group of local lenders in order to forestall a possible takeover of the company by the banks.

The Chairman of the Nigerian Communications Commission (NCC), Umar Danbatta, met with central bank governor Godwin Emefiele with the aim of intervening to protect subscribers and investors, the NCC said in a statement.

The central bank has invited the management of Etisalat Nigeria and the consortium of 13 lenders to a meeting on Friday to find an amicable resolution, the statement said. (Reporting by Camillus Eboh and Chijioke Ohuocha; Editing by Mark Potter)

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