• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Company News

List of Nigerian banks exposed to Etisalat’s $1.2 billion debt

Nairametrics by Nairametrics
June 20, 2017
in Company News
It’s over, Etisalat UAE throws in the towel          
Share on FacebookShare on TwitterShare on Linkedin

Etisalat UAE has officially decided to pull out of Nigeria following a series of negotiations with a consortium of commercial banks that have since led to a dead end.

The banks lent Etisalat $1.2 billion in 2013 out of which $650 million was used to refinance its existing loans at the time and another $350 million used to finance network expansion.

Etisalat has now defaulted on the loans leading Nigerian banks to consider calling in their collateral which basically includes seizing the assets of the company, including shares. It is important to add that this deal is currently being negotiated and the banks may still avoid calling their securities.

RelatedStories

President Tinubu reacts to Port Harcourt Refinery revival, orders reactivation of Warri, Kaduna Plants 

CBN Forbearance: Six Nigerian Banks face risk of lower profits, dividends

June 16, 2025
Telecom

USSD charges: Nigerian banks, telcos still testing end-user billing  

June 15, 2025

Whilst various report suggest about 13 banks are involved in this transactions, not all the banks have disclosed how much they are exposed to. However, we have had a few open up on their exposure which you can find below. Nairametrics will continue to update this list information from our sources becomes available;

Here is a list of some of the major banks currently exposed to Etisalat

GT Bank – $138 million

Access Bank – $131 million

Fidelity Bank – $56 million

Stanbic Bank – $24 million

FCMB – $15 million

Union Bank – N3.9 billion

Zenith Bank – Undisclosed

First Bank – Undisclosed

 

UBA – Undisclosed

Ecobank – Undisclosed

Keystone Bank – Undisclosed

FSDH – Undisclosed

Mainstreet Bank – Undisclosed

 

Tags: Etisalat NigeriaNigerian BanksTech
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

President Tinubu reacts to Port Harcourt Refinery revival, orders reactivation of Warri, Kaduna Plants 
Features

CBN Forbearance: Six Nigerian Banks face risk of lower profits, dividends

June 16, 2025
Telecom
Financial Services

USSD charges: Nigerian banks, telcos still testing end-user billing  

June 15, 2025
How Much Money Do You Need To Start Investing?
Digital Media

Nairametrics Awards, Market Movers & Bank Recap Secrets — All on Follow the Money With Ugodre

May 28, 2025
Retail Kings; Banks with the largest retail deposits in Nigeria in 2024 
Exclusives

Retail Kings; Banks with the largest retail deposits in Nigeria in 2024 

May 27, 2025
Nigerian Banks
Blurb

Nigerian banks are seeing their earnings decline, and it could get worse 

May 2, 2025
Equities

Nigerian banks earn N5.93 trillion from investing in Treasury bills, OMO bills, others in 2024 

April 28, 2025
Next Post
[The Nigerian Economy Daily] FG has approved the closure of five foreign missions and embassies

All the major economic news from Nigeria in 5 minutes - 20/6/2017

Comments 2

  1. Teny says:
    June 20, 2017 at 5:45 pm

    i think union bank is wrong. Kindly update.

    Reply
  2. Teny says:
    June 20, 2017 at 5:46 pm

    Nevermind. i read it wrong.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 
  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 

Follow us on social media:

Recent News

Sterling Bank concludes core application migration, leads the way for African Banking

Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 

July 15, 2025
Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics