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Etisalat Nigeria, banks still negotiating debts

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The MyEtisalat platform offers unique security features that enable customers to disable their devices if stolen (image: Charlie Fripp)
Etisalat Nigeria still in negotiations with Nigerian banks.  (image: Charlie Fripp)

In a statement released to the media on Thursday, Etisalat Nigeria revealed that contrary to some reports in the media, negotiations between the telecommunications company and Nigerian banks are still ongoing and have not “stalled or reached a deadlock,” as reports indicated.

Reports yesterday suggested that the talks regarding the renegotiation of the terms of a $1.2 billion loan had stalled but Etisalat Nigeria acted quickly in denying such claims.

The statement, which came from Ibrahim Dikko, Vice President of Regulatory and Corporate Affairs at Etisalat Nigeira, highlighted that the company states without equivocation that discussions are not only ongoing with their bankers, but good progress has already been made.

Dikko added that “We are optimistic that an agreement will be reached shortly and this will be communicated through the appropriate channels of the involved stakeholders. We appeal to our media partners who have indeed been critical to the success of our business over the years, to await the official communication of the outcome of the ongoing discussions and not lend their credible platforms to speculative and presumptive analysis of the discussions.”

Dikko also emphasised that the businesses immediate focus is to ensure that they not only sustain a positive performance, but that they also continue to grow the business, deliver excellent customer service and increase value to our stakeholders which includes our bankers.

“We wish to assure our esteemed customers, service providers and other relevant stakeholders that Etisalat Nigeria has and will indeed continue to operate normally whilst these discussions are on-going,” concluded Dikko

Staff Writer


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