Etisalat Pulls out from Nigeria

Etisalat Pulls out from Nigeria

The Etisalat Group has pulled out of Nigeria, they made this known by sending a notice to the  Abu Dhabi Securities Exchange that it has pulled out its operation in Nigeria Nigeria.

Earlier this week a consortium of banks which was headed by Access Bank of Nigeria Plc and other international and local banks had announced that the Management of Etisalat Nigeria had been taken over making clear that there was a fall out between the Etisalat Nigeria and its creditors

In a notice sent to Etisalat UAE it stated that the Etisalat Nigeria had finally decided to relinquish its assets to the appointed security trustee of the consortium of banks led by Access Bank Plc.

However The Chief Executive officer of Etisalat Nigeria, Mr. Matthew Willsher, said  that negotiations are still ongoing. According to him, the Nature and timing of the transfer is still under negotiation however he noted that it will be handled in a coordinated manner.

From this outcome, many Nigerians are asking what would happen to the Millions of Lines operated by Etisalat and what would be the fate of the career of it various workers in Nigeria

We hope this is resolved properly

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