Posted on Thu 22 Jun 2017, 12:29 PM

A consortium of 13 banks, involved in Etisalat Nigeria’s 1.2 billion dollar loan is seeking the Federal Government’s intervention to investigate the Telco's management, reports have indicated.

The banks are urging the government to look into the matter, through its anti-graft agency, the Economic and Financial Crimes Commission ( EFCC) by investigating what the company did with the loan.

A source in the banks revealed this to journalists in Lagos. 

Posted on Wed 8 Mar 2017, 03:24 PM

Despite the intervention of the Nigerian Communication Commission, NCC, to broker a peaceful resolution between Etisalat Nigeria and a consortium of banks, it appears the effort may not have yielded a truce, as the banks are set to take over the telecoms firm today, Wednesday.

The consortium of some foreign and Nigerian banks, including Guaranty Trust Bank, Access Bank and Zenith Bank, have been having a running battle with the mobile telephone operator over a loan facility totalling $1.72 billion (about N541.8 billion) obtained in 2015.

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