Monday, 22 January 2018

Business News

Hakeem Bello-Osagie, Chairman of the embattled Etisalat Nigeria Limited has resigned his position as the chairman of the organization.

This is coming on the hill of the debt crisis of $1.2billion facing the organization and grinding the operation of the firm. The resignation takes immediate effect.

Barely a week after the largest shareholder in Etisalat Nigeria, the Mubadala Development Company, pulled out of the company, having transferred its 45 per cent shares to the banking consortium, the Chairman of Etisalat Nigeria, Hakeem Belo-Osagie, has resigned his position with the telecommunications company over the $588.6m debt owed a consortium of 13 banks.