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N541.7bn loan: Access Bank, others take over Etisalat

GSM provider, Ethisalat, has finally been taken over by a Nigerian consortium of banks, led by Access Bank and other foreign banks.

The consortium of banks took over the ownership and management of the GSM provider because of inability to settle its N541.8 billion loan even as the Federal Government waded into the controversial debt.

Indeed, Etisalat could not restructure the loan because it could not reach amicable agreement with the consortium of banks.

Details Later…

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