CBN Pumps $195m Into FOREX Market

The Central Bank of Nigeria has released fresh $195m into the foreign exchange market. This development is part of its wholesale intervention to ensure liquidity in that segment of the market. The Acting Director of Corporate Communications Department, CBN, Mr. Isaac Okoroafor, released a statement which reads thus: “The Central Bank of Nigeria on Tuesday, […]

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Etisalat May Depart Nigeria Over $1.2bn Debt

Abu Dhabi telecoms group, Etisalat may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2 billion loan. The Central Bank of Nigeria (CBN) and telecoms regulator, the Nigerian Communications Commission (NCC) on Friday agreed with local banks to pursue a default deal rather than a receivership for Etisalat Nigeria so as not […]

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Banks Set To Takeover Etisalat Over Debt

A consortium of local banks may assume the management of Etisalat Nigeria over unpaid loans extended to the telco about two years ago. The development is a fallout of the difficulties being faced by the telco in settling the debts. Already, the telco has approached the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission […]

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