13 banks involved in Etisalat Nigeria’s $1.2 billion loan may be seeking Federal Government’s intervention to investigate the management.
A management source close to the banks told the News Agency of Nigeria (NAN) in Lagos that the banks wanted the government, through the EFCC, to wade into the matter by investigating what the company did with the loan.
The source alleged that the loans were siphoned and needed to be investigated by the EFCC, noting that there was no proof of what the company did with the loan.
He said that the affected banks had rolled out a lot of viable options to Etisalat for the loan to be restructured, but was rejected by the company.
The source said that the banks were not into telecommunications and had no intention of running Etisalat.
“All we want is to recover the loans; we cannot write off the loans as being demanded by Etisalat because the company is viable,” the source stated.
