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| Hakeem Bello-Osagie, |
The Chairman of Etisalat Nigeria
Limited, Hakeem Bello-Osagie, has resigned his position.
The resignation takes immediate effect.
A statement obtained by PREMIUM TIMES
confirmed the development, saying the decision followed “the
approval of a restructuring plan for the telecommunications firm.”
Mr. Bello-Osagie, the one-time Chairman
of the United Bank for Africa, UBA, was the surviving shareholder in
the embattled mobile operator currently embroiled in a $1.2 billion
(about N377.4 billion) loan repayment crisis with a consortium of 13
Nigerian banks.
He was the promoter of Emerging Markets
Telecommunications Services, EMTS, which controlled 15 per cent of
the equity holding of the company
His resignation followed the
withdrawal, two weeks ago, of the company’s major shareholder,
Emirates Telecommunications Group Company, which announced the
decision to quit effective June 15, 2017.
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