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Thursday, June 29, 2017
Business

Business

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The Central Bank of Nigeria (CBN) has disclosed that Dubai-based investment fund – Mubadala – has pulled out of Etisalat Nigeria after the telecommunications firm failed on Friday to renegotiate a $1.2 billion loan taken out four years ago...
The crisis confronting debt-ridden Etisalat, one of Nigeria’s biggest telecom companies, took a disturbing turn yesterday, with the Central Bank of Nigeria (CBN) urging a consortium of banks to which Etisalat is indebted to the tune of over $1.2...
The Centre for Anti-Corruption and Open Leadership Campaign, Centre for Public Accountability and 18 other rights groups have dragged the Federal Government to court over concession of the Port Harcourt refinery. The groups stated that the concession of the refinery...
The Eko Electricity Distribution Company (EKEDP) on Thursday announced ‎that there would be interruption of power supply in some parts of Lagos communities on Saturday. Mr Godwin Idemudia, the General Manager, Corporate Communications, said in Lagos that the outage would...
Etisalat has repaid 42 percent of the debt owed Nigerian banks and is not owing the humongous $1.2bn, as being reported in the media. The clarification was made by the troubled telecommunications company today. “As at today, we can categorically state...
Strong indications emerged on Wednesday that consortium of 13 banks, involved in Etisalat Nigeria’s 1.2 billion dollar loan is seeking the Federal Government’s intervention to investigate the management. A management source close to the banks in Lagos said that the...
The Nigerian Communications Commission (NCC) has made it clear that Etisalat’s operating licence cannot be transferred without its approval. On Tuesday, Etisalat transferred control of the telecommunications company, to a consortium of banks after failed debt repayment talks. The banks, which...
The Managing Director of Capital Oil and Gas Limited, Dr. Ifeanyi Ubah, has been released by the Department of State Services. Ubah had been with the DSS for several weeks. Sources said the oil mogul was released on Monday night unconditionally...
A consortium of banks, led by Access Bank PLC and other Nigerian and foreign banks, has taken over the management of Etisalat Nigeria, effective June 15. The takeover followed the collapse of the effort by Emerging Markets Telecommunications Services, EMTS,...
Following its 800 million dollars intervention in the Interbank Foreign Exchange (FOREX) Market last week, the Central Bank of Nigeria (CBN), on Monday, injected 195 million dollars into the market to meet the requests of customers in the various...
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