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Etisalat Saved From Extinction By CBN and NCC

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Lagos – The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have got reprieve for Etisalat on the loan default crisis facing the company. 
Mr Tony Ojobo, the Director of Public Affairs of NCC said in a statement on Saturday in Lagos, that the reprieve came following a meeting convened by CBN and NCC to find a quick resolution to the crisis. ”Friday’s meeting succeeded in halting the attempt by Etisalat’s creditors at bringing it under any form of take over. ”Receivership was completely taken off the table in a meeting that was very productive and constructive. ”The meeting, which held at the CBN office in Lagos, had the consortium of banks being owed and Etisalat in attendance. ”The banks and the mobile network operator agreed to concrete actions that will bring all parties closest to a resolution,” Ojobo said. He said that CBN and NCC were able to secure for Etisalat the necessary “oxygen” to enable it continue to meet urgent operational expenses. Ojobo said that CBN Governor, Mr Godwin Emefiele who chaired the meeting, was firm in declaring what needed to be done by both parties towards a quick resolution. 


He said that NCC equally made it clear that everything necessary must be done to protect the 23 million Etisalat subscribers. The director said that there was also the need to protect the telecom industry to prevent potential investors from developing cold feet. According to him, effort has been made to ensure that Etisalat remains in business while the consortium of banks meet their obligations to their customers. ”A meeting will hold on March 16 to agree on a payment restructuring path going forward. ”The NCC will lead the CBN in a possible crucial meeting with Etisalat’s shareholders anytime soon,” he said. On March 8, there was an attempt by a consortium of banks to take over Etisalat, because of its N541.8 billion debt. A consortium of some foreign and Nigerian banks, including Guaranty Trust Bank, Access Bank and Zenith Bank, have been having a running battle with the mobile telephone operator, over a loan facility totalling 1.72 billion dollars (about N541.8 billion) obtained in 2015. 

The banks said their attempt to recover the loan by all means, was fuelled by the pressure from the Asset Management Company of Nigeria (AMCON), demanding immediate cut down on the rate of their non-performing loans. NCC appears not to be favourably disposed to the takeover proposal; as it believed that Etisalat is not only a viable going concern, but also willing and able to negotiate the servicing of its loans. Etisalat is Nigeria’s fourth largest telecommunications operator with about 21 million subscribers as at January 2017.
-vangaurd

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Employment seeking girl steals N108k from her prospective employer

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Opportunity comes but once, this young girl believes as she stole N108k from her prospective employer. A female jobseeker has been captured for taking One Hundred and Eight Thousand Naira amid her prospective employee meeting in Delta State.

It was accumulated that the businessperson at the organization had ventured out to get something, leaving the suspect in the workplace. The young lady professedly utilized the chance to take N108k and fled.

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Good fortune, be that as it may, ran out on her, days after the fact, while going through the road where the workplace is found. She was expeditiously caught and dragged to her home where the rest of the cash was recovered.

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Lagos tenant uses Landlord’s apartment to dupe house appliance vendors of N50 million

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Read this narration by twitter handle, @Wenogetjob, which tells of how he eavesdropped on a couples conversation of a duping man. The man rented a house for 2 month, bought expensive items worth up to N50 million on credit. Left the rented apartment with all the appliances he has not paid for, after winning the trust of the sellers.

Hey peepz, I have a gist tho I don’t know if it’s true or not..But I will say it Sha. I was just walking on the street 2receive fresh air when I saw a couple. d man was telling his wife about an incident. I kukuma slowed down an walked behind them to hear d full gist.

It was more like a scam story. A certain man walked up to a Landlord in our area and requested to rent his apartment for 2 months, with the excuse that he was traveling to Canada and just came to Lagos for the Visa Processing.. They agreed on 150K.

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The man paid and took ownership of the apartment.He then went out to Vendors in town and negotiated to buy expensive items on lease. With installment payment plans.. He was said to have collected home appliance worth N50,000,000 from various vendors.

He then took them all to the apartment one by one to build trust. At least once they know he lives there, they can easily come around and pack their stuffs if he defaults, these people didn’t know what would hit them was going to be deadlier than Tsunami.

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As agreed with the Landlord, the man packed out even earlier than expected… Left with all the items, of which he had not finished the payment..and the Landlord was so happy to have struck a better deal He immediately rented out the apartment to another family.

One by one, the creditors began to come in and same story was relieved to them.. Some fainted, some threatened hell fire …. To cut the long story short, Baba Ijebu was arrested alongside the new tenant.. You know Naija now… #POLICE  no wan hear wuen

They were only saved after a Landlord intervened. He is a legal practitioner and took up the case. But sincerely speaking. I wonder how some people feel at rest knowing fully well their victims would suffer.  I guess it all centers on lack of conscience. This is bad #dojon

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How a middle-aged man died after withdrawing N100,200 from the bank will shock you

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How a middle-aged man died after withdrawing N100,200 from the bank will shock you

What could have taken the life of a middle-aged man, identified only as Muyibi, who collapsed and died in a commercial cab in the Ojota area of Lagos State.

PUNCH Metro reports that Muyibi boarded the cab after withdrawing money from a United Bank for Africa branch in the Ogudu area. Then the driver had turned to to take his fee from Muyibi when he realized the man had become motionless. After reaching the terminus, a resident told Punch’s correspondent that the driver alighted from the cab to slightly push Muyibi, who was cold.

The resident, who did not want to be identified, said,

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“The driver had picked some other passengers along the way, and they had all paid and dropped off at their various bus stops.
“When the victim did not respond when they got to the terminus, the driver parked the cab to rouse him, but he was cold.
The driver raised the alarm, which drew the attention of commuters and passersby to the scene. People checked him and discovered that the man was dead.”

Policemen from the Ogudu division were said to have been alerted to the incident. The driver’s vehicle was impounded just like that, while the man’s body was deposited in a morgue.

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A source person at the terminus who spoke with Punch newspaper confirmed the incident, saying:

“It happened around 3pm on Friday. The man went to withdraw some money in UBA. The Ogudu Divisional Police Officer was compassionate; she pitied the cab driver, who had become jittery.
Although the man was not detained, his cab was impounded at the station pending when the deceased’s family would show up,” he added.

Lagos state Police Public Relations Officer, SP Chike Oti, said the police recovered N100,200 from the victim’s bag.

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He said:

“The man was on his way to Ojota when he collapsed and died. We recovered the sum of N100,200 from his bag.
He also had a phone, which had a new SIM card. There is no contact on the phone and nobody has called him. We have a lead as to where he could be living.
His body has been deposited in a morgue for autopsy.”

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