The Etisalat debt default saga while negative for lenders does not pose a systemic risk!
Fig 1: Banks Exposure to Etisalat Nigeria
| Banks | Etisalat Loan N’m (Naira) | Etisalat Exposure (Dollars) $’m |
| Zenith Bank | 80,000 | 262.3 |
| Guaranty Trust Bank | 42,000 | 137.7 |
| Access Bank | 40,000 | 131.1 |
| United Bank… |
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