$1.2b Loan: We’ve not taken over Etisalat – Banks

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The consortium of 13 banks involved in Etisalat Nigeria loan on Thursday refuted reports that they have taken over the operations of the company.

A management source close to the banks who pleaded anonymity disclosed in Lagos that there was no truth in the report making the rounds.

The source said that the banks major interest was the loan repayment borrowed by the company and not takeover.

“We are not telecommunication companies, all we want is our money,” he said.

The source said that the company must pay back the loans in order not to jeopardise the economy, jobs, payment of dividends and depositors funds.

He stated that it was not only the banks that would suffer but billions of Nigerians, even the vendors and distributors doing business with the company.

“We did not take over Etisalat as being insinuated, if we have taken over, it has to be registered with the…

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