Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt - Business (3)

Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt - Business (3) - Nairaland

Nairaland Forum › Nairaland General › Business › Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt (34272 Views)

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Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by stcool(m): 2:30pm On Jun 20, 2017

0b10010011:
We talking financial terms you talking about history! What has history got to do with a default? Weren't there terms and agreement considered by both parties before signing-off?

That you shoul think about. It happens everywhere in the world!

A reputable company like Etisalat would have headed to court if need be!

I guess u clear now?

We know they was a default, just saying bank's cant do any justice. NCC and FG should step in and take over. Last time I checked we bailed out banks run by this same people.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by jaytime(m): 2:33pm On Jun 20, 2017

No wonder why they have been charging me above agreed 11k per second on easy life. So they were broke.

2 Likes

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by 0b10010011: 2:35pm On Jun 20, 2017

stcool:
We know they was a default, just saying bank's cant do any justice. NCC and FG should step in and take over. Last time I checked we bailed out banks run by this same people.

Is it legally mandated for NCC or FG to delve into such matter? Its at there own discretion if need be. They happen to be a third party in the agrrement and there say won't hold except they ready to bail out at will.

They re not mandated to bail-out

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by farem: 2:37pm On Jun 20, 2017

thesicilian:
These banks are all crooks. They can't pay staff, but have enough to buy over other companies.

Do you understand what transpired? the transaction involved?

Not everything can be learned in school. Exposure come from reading and diligent observation.

This Apc/pdp mentality stupidity can't take anyone beyond nairaland.

6 Likes

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by isick(m): 2:47pm On Jun 20, 2017

thesicilian:
These banks are all crooks. They can't pay staff, but have enough to buy over other companies.

Please read before you comment, they are not buying over, they are taking over because Etisalat can't fulfill their part on the loan they took from those banks

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by xreal: 2:49pm On Jun 20, 2017

First , it was Dangote then Wale Adenuga.

So Access bank finally had it.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by wacoj(m): 2:54pm On Jun 20, 2017

Hope Access bank will survive this.
Make I go collect my 2k wey remain!

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by Quality20(m): 2:55pm On Jun 20, 2017

Well by my own estimation they are d best network in Nigeria. I wonder what went wrong with their management and managers.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by Od31(m): 2:59pm On Jun 20, 2017*

This shows that it is very difficult to do business in Nigeria. with all the airtime purchases per day, still they are owning that much. Am sure they have about 1million subscribers, for example if every subscribe spend at least 500 naira per week for both data and voice calls, that will mean 500m Naira a week, times 4 weeks for the month, that will 2billion naira in a month, yet they are owning that much. Same thing goes for the airline companies in Nigeria, these are companies that you pay before you enjoy their services, yet they are owning. Govt should help make it easy for business to strive in the Country. Am sure the multiple taxation we have in the country does not help too.

Nigeria still have a long way to go!!! That's all i can say.

4 Likes

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by Deadshot(m): 3:02pm On Jun 20, 2017

virus05:
Etisalat= data zapping network. Followed by airtel then mtn. I don use all of them for at least 1yr. So I know dem. Na ntel sure pass o. Unlimited data. Mtn,etisalat,airtel no be network.

Mumu ntel wey no fit get network for ojo area i don fy wait for them tire na just festac dem put mast

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by ndidibabe(f): 3:04pm On Jun 20, 2017

Sirpaul:
Access na bank?...

That is one of the best and most profitable bank in Nigeria.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by samguru(m): 3:05pm On Jun 20, 2017

Etisalat is a systemically important telecommunication operator and refusal of government to bail it out as done in the banking industry,shows our leaders are the most unserious ones on the planet, and later they will come out to issue a directive that no company should lay off workers.

Etisalat as a company put food on the table of not less than hundred thousand nigerians (direct and indirect staff) and What the government should have done is to advise "etisalat " to float a bond and guarantee it, atleast for the sake of job loss and catastrophic consequences.if they know the magnitude of the dent this incidence would cause the economy they would have nipped it in the bud before it degenerated to this extent.

Our banks are more wicked than devil, if you go to marina, in lagos there is an oil rig confiscated by first bank of nigeria.The rig has been there for months wasting away all because the company is indebted to bank.even GTB the intimate friend of the company did nothing to help her friend.

God have mercy on this country.

1 Like

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by mekybabe1: 3:08pm On Jun 20, 2017

Etisalat has been taken over by banks,mTN is paying over 300billion naira NCC fine, Airtel is looking for an exit. So na only Globacom remains standing? Up Adenuga. The guy dey try sha. Pls let us support our own indigenous company.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by odimbannamdi(m): 3:09pm On Jun 20, 2017

0b10010011:
At a cost they couldn't manage and also not considering subscriber base in there implementations.

How do u manage to remember your username?

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by Nobody: 3:13pm On Jun 20, 2017

RIP Etisalat.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by adeshinacute(m): 3:18pm On Jun 20, 2017

If you in kwara state (UK used) I phone 6 (16gig) for sale @ 119k check my Signature for my contact or come to our shop @ challenge in ilorin

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by 0b10010011: 3:20pm On Jun 20, 2017

odimbannamdi:
How do u manage to remember your username?

It's a binary code?

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by kaywhy09(m): 3:22pm On Jun 20, 2017

Debtor taking over debt

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by mindtricks: 3:32pm On Jun 20, 2017

Sad. A bad omen for Nigerias most innovative network and the citizens alike.

Sad, they have really come a long way, giving the likes of mtn sleepless nights since their entry.

The people always seem destined to lose, as in most things how it affects the country in general is never really considered.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by sagieramos(m): 3:39pm On Jun 20, 2017

odimbannamdi:
How do u manage to remember your username?

It is a binary digit. it means 147 in decima

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by mindtricks: 3:42pm On Jun 20, 2017

0b10010011:
Is it legally mandated for NCC or FG to delve into such matter? Its at there own discretion if need be. They happen to be a third party in the agrrement and there say won't hold except they ready to bail out at will.

They re not mandated to bail-out

True, but if you know what positive changes they brought into the industry, you will it's worth it.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by GuntersChain(m): 3:43pm On Jun 20, 2017

0809ja for live in banky w voice.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by thesicilian: 3:45pm On Jun 20, 2017

farem:
Do you understand what transpired? the transaction involved?

Not everything can be learned in school. Exposure come from reading and diligent observation.

This Apc/pdp mentality stupidity can't take anyone beyond nairaland.

damola311:
Oh mehn! Can you please learn how to read? If you can read, can you please try and understand before spilling crap?

mowk:
What a dumb statement!

Intrepid01:
See sheer ignorance....just look at yourself.

If it makes you feel better, please feel free to continue with the outbursts.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by okenwa101(m): 3:47pm On Jun 20, 2017

coolcharm:
They have been wanting to do this all along.

Let's watch how they run it aground

Wish we could all demand for our money from the banks at once one day so that they will see how it is to sweat from the ear

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by blazetitov: 3:50pm On Jun 20, 2017

blazetitov:
Etisalat so poorly managed. FX loans practically killed them off

Said so few weeks ago undecided

.

Low pricing on FX loans was the attraction then. They never thought it will come to a time when sourcing for FX will be extremely difficult in the country. As for Mr Osagie, lipsrsealed

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by stonemasonn: 3:52pm On Jun 20, 2017

They swallowed intercontinental, now etisalat. OK ooo

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by okoliexpress: 3:54pm On Jun 20, 2017

thesicilian:
These banks are all crooks. They can't pay staff, but have enough to buy over other companies.

PLS READ FIRST ALWAYS BEFORE YOU COMMENT. THEY TOOK OVER ETISALAT DUE TO A BAD LOAN. THEY DIDNT BUY IT

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by hedonistic: 4:08pm On Jun 20, 2017

KBO's 'magic wand' failed woefully this time around. I wonder how much this would affect his net worth.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by Sirpaul(m): 4:23pm On Jun 20, 2017

will you shurup there

ndidibabe:
That is one of the best and most profitable bank in Nigeria.

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by trippleKAY(m): 4:37pm On Jun 20, 2017

NubiLove:
why didn't the Etisalat headquarters bail them out?

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by damola311: 4:38pm On Jun 20, 2017

thesicilian:
If it makes you feel better, please feel free to continue with the outbursts.

Nothing makes one feel better here, Just surprised about how dumb you sound!

Re: Access Bank Takes Over Etisalat Nigeria Over N541 Billion Debt by engrrichie92(m): 4:38pm On Jun 20, 2017

thesicilian:
These banks are all crooks. They can't pay staff, but have enough to buy over other companies.

some people just type for typing sake sha
im a bank staff(wont mention the name) and 21st of everymonth, i never miss my alert

so what are you saying?

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