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See Complete List Of The Banks That Took Over Etisalat Nigeria

Etisalat

One of Nigeria’s telecommunication companies, Etisalat has now been taken over by thirteen major Nigerian lenders.

The lenders include:

1. Zenith Bank

2. GT Bank

3. First Bank

4. UBA,

5. Fidelity Bank

6. Access Bank,

7. Ecobank,

8. FCMB

9. Stanbic IBTC Bank

10. Union Bank.

11. Keystone Bank,

12. FSDH Merchant Bank and

13. Mainstreet Bank.

The take-over came as a result of a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one time Chairman, United Bank for Africa, UBA, Hakeem Bello-Osagie, to reach agreement with the banks on debt restructuring plan in the protracted $1.72 billion (about N541.8 billion) debt impasse.

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