Business Etisalat Nigeria Gets New Life-Line, Reaches Amicable Resolution With Creditors Over $547m - NCC

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It appears that Etisalat Nigeria has been saved for now as reports from NCC suggest it has reached an amicable settlement with creditors over $547m debt.

The commission also gave its backing to the current transition process at the helm of the business which saw Mr. Boye Olusanya confirmed as chief executive officer, to replace Mr. Matthew Willsher, while Mrs. Funke Ighodaro takes over from Mr. Olawole Obasunloye as chief finance officer.

Statement by NCC’s Director of Public Affairs, Tony Ojobo

The commission is pleased to note that Etisalat and its creditors have successfully reached an amicable resolution of key issues pertaining to its indebtedness, and that a smooth transitional process is currently ongoing on mutually agreed terms.

Also read: Is Nairametrics Right About Dangote's Move On Etisalat Nigeria?
 

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Is it really a life-line. I thought the real lifeline is to have a good economic policies especially on the monetary issues bedeviling the Buhari's administration for the past two years.

If Etisalat get life-line, what about others? When Blue Chip firms cannot survive, how would SMEs strive?

Real Life-line is government doing what is appropriate at a TIME.
 
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