http://www.premiumtimesng.com/news/headlines/202746-panamapapers-secret-assets-of-etisalat-chairman-hakeem-belo-osagie-uncovered-in-tax-haven.html

Mr. Belo-Osagie’s father, Professor Sunmonu Belo-Osagie, was the gynecologist to the family of former Nigerian military president, Ibrahim Babangida. His family’s connections with the military in the 1980s was a springboard for his appointments as a Special Assistant to the Presidential Adviser on Petroleum and Energy and later as Special Assistant to the Minister of Petroleum and Energy, positions he admitted in interviews opened for him his first road to fortune.

In 1998, he acquired a controlling stake in UBA and became the bank’s Chairman. But the businessman, who is one of the sponsors of a new $120 million shopping mall currently being developed in Jabi Lake Abuja, was in 2004 forced out of UBA by the Central Bank of Nigeria (CBN) following a complaint by US authorities.
In 2002, UBA, under Mr. Belo-Osagie, became the focus of a CBN probe over money laundering and foreign exchange abuses.



This Bello seems to be a bad business Man, but going by news available we need to find out what Etisalat did with the loan. Nigerian Mangers are very funny set of people.

Am I shocked hearing Adenuga is interested in Etisalat... You can point to the single denominator.