the fact that i am alive and healthy

God oooo
Help us

E don happened

Ok na next

A welcome development.
Hope someone won't sit on the money sha

MJBOLT:

which of them is from kaduna, samuel or felicia

Felicia

Love in did has no boundary.
The wedding comes this Saturday.
May God bless their new home.

Good move

Noted

Ororo given motivation to many.respect legend

Read The Shocking Things Top Football Legends Are Saying About Cristiano RonaldoRead The Shocking Things Top Football Legends Are Saying About Cristiano Ronaldo




Cristiano Ronaldo dos Santos Aveiro GOIH, ComM is a Portuguese professional footballer who plays as a forward for Spanish club Real Madrid and the Portugal national team.

In the past 8 to 9 years, there has been in the superiority debate with Barcelona counterpart and a five-time winner of the highly coveted Balon’Dor, Lionel Messi.

Ronaldo who has won the title four times has been tipped to be the winner of the 2017 world best footballer, which will of course, equal the same number of title with Messi

In summary, the world of football is divided into two main categories; those who believe Lionel Messi is the best and those who believe Cristiano Ronaldo is a god. Below are what Football Legends have said about the latter.

Ronaldinho : “Cristiano Ronaldo is the most complete player i have ever seen. My son adores him”
Jose Mourinho : “In a Fifa or Pes games Messi comes out tops but in a football field Ronaldo is the King”
Roberto Bargio :”To me Ronaldo has proved himself in 3 different leagues. He is the best”
Paul Jewell :”He’s 6’2″, brave as a lion, strong as an ox, quick as lightning. If he was good looking you’d say he has everything”
Drogba :”Many people know that Ronaldo is the best in the world but they are afraid to say it.”
Emmanuel Adebayo :”The best player i have ever played with is the best player in the world Cristiano Ronaldo.”
Pepe :”Comparing Ronaldo and Messi is like comparing an Alien with a human. Ronaldo doesnt have blood.”
Usaine Bolt :”I fear none in the track….. Maybe if Ferrari Ronaldo comes in the track i may tremble.”
Paul Scholes :”People say i was precise but boy or boy Ronaldo is perfect.”
Bale :”My role model is Cr7, he is the best ever player the world has ever seen.”
Rafael Nadal :””The next time you compare Ronaldo with another player, take a nap.”
Thomas Mueller :”Ronaldo is the best player in the world but we are tired, i just want Neur to win Ballon dor.”
Zinedine Zidane :”When you play with Ronaldo in your team, you are alredy 1-0 up. He is the best in his generation.”
Capello :”Give me Cr7 and ten players. I will lift the Uefa Champions league.”
Sir Alex Fegerson :”Messi will never score goals like these. Ronaldo is unbelivable.”
Marcelo :”In our national team we are lacking a Ronaldo. An Angel.”
Klopp :”If you have Cristiano what more do you want? Maybe bars to celebrate wins .”
Luis Figo :”Who said Ronaldo plays like me. Its a honour to be compared with the best player in the world”
Iker Cassilas :”One day i will tell my son, ‘once upon a time there was Cristiano Ronaldo’. Its a fairy tale.”
Neymar :”Cr7 is a monster, not a human. It will be a dream come true to play with him if i sign for Madrid.”
Gerard Pique”The best player i have ever played against has to be Ronaldo. You cannot afford to take you eyes off him.”

OK oh. God help Nigeria

If this work out I Will be so happy for my dad oh cos he worked there. Thank God we are alive n living large even after closure of the company.
But u need to be in Kaduna 2001/2002 to knw Hw life was for many workers there.many become okada riders just to survive

That's cool.
Kaduna is another place dominated by this brand .the okada is the best for me so far . smooth drive with good shock absorber

divinehand2003:
Over 99% Of governors in Nigeria are super lazy and lack the mental, creative, spiritual and physical requirements of excellent leadership.

Na God go deliver Nigeria.

Well said. The problem of our dear country is beyond human to solve

You’re lazy, sultan tells northern governors
2017/07/28 06:05:32nigeriatoday.ng

Alhaji Muhammad Sa'ad Abubakar III

• Asks leaders to tackle region’s problems
• Govs flay pro-Biafra agitation, restructuring
• Yoruba group seeks creation of Oduduwa Republic

The Sultan of Sokoto, Alhaji Saad Abubakar, yesterday condemned what he considered as the lazy attitude of some northern governors to governance.

The sultan said the governors must show practical commitment to discharging their duties by avoiding procrastination and implementing decisions capable of turning around the poor situation of the north.

Coming from the sultan, it is an indication that the northern establishment is set for self-evaluation. It is no longer prepared to pamper the issue of poor development in the north as the sultan’s call on the region’s political leadership to brace to the challenges of development is unmistakeable.

At a joint meeting of the Northern Governors’ Forum and traditional rulers at Sir Kashim Ibrahim House in Kaduna yesterday, the sultan said the northern elite must throw away their lazy attitude.

He urged traditional and religious leaders to guard their utterances and avoid inciting words which could cause chaos, saying that negative stories could be circulated by rumour mongers on the social media.

“During our last meeting six months ago, we spent a lot of time to discuss many things, but from the earlier discussion, is the north much better now than we were six months ago? If yes, it means we are making progress, if no, why?

“All that has been the problem is to implement decisions taken at such a meeting by everybody. I think we are not short of solutions to all our problems, what we are short of, all of us, is sincerity and commitment to really do what we say publicly. If we don’t change, our situation will continue to get worse.

“At this meeting, we need to discuss what came out of the January meeting, how far we have gone in trying to implement some of the decisions we have taken and chart the way forward.

“I should remind us, so many of us who are also religious leaders, to be cautious over inciting utterances and ambiguous words on issues that shouldn’t have been brought up.

“What we do or how we go about some of these issues, you don’t make ambiguous statements which will be very difficult to withdraw. We are aware of the implications because the social media is so negative now that people formulate stories that never existed and polish them to be true,” the monarch cautioned.

While commending some governors for hard work and resilience with regard to education in the north, he said the traditional rulers were collectively committed to making the north the envy of the rest of the world.

“But we have to and we must be up and doing, we must throw away our lazy attitude because whatever problems we have in our region, we are more educated to find solution to them. I assure you of our support, and you must continue to see us (traditional rulers) as partners in this long and tough journey to emancipating our people from the grip of poverty and lazy life.”

The governors cautioned those agitating for restructuring of the country and the protagonists of the Republic of Biafra against endangering the unity of Nigeria, saying that the nation might not survive under such divisive tendencies.

The Chairman of the Northern Governors’ Forum’s and Governor of Borno State, Kashim Shettima who spoke at the meeting listed the current issues threatening the unity of the nation as the agitation for restructuring, creation of a Biafran State and the Fulani herdsmen’s attacks on communities. He urged prompt action to tackle these issues.

Shettima, who was represented by the Governor of Katsina State, Aminu Masari at the two-day meeting which began yesterday, said: “Agreed that being citizens of a democratic country, Nigerians are entitled to exercising their constitutionally guaranteed freedom of speech and association, and the clamour for the restructuring of the country falls within the purview of these freedoms. But the exercise of such rights outside the confines of responsibility is not acceptable.

“The resort to shenanigans, hate speech, and sometimes incitement to violence by organisations such as IPOB and MASSOB must be unconditionally condemned as they are inimical to national unity, stability, peaceful coexistence and national security.

“These elements must be encouraged to pursue their agitations within processes enshrined in our constitution and with the full and willing participation of all parts of our nation.”

The governor urged southern leaders to condemn the agitation the way northern leaders condemned the ultimatum given by some northern youths to Igbo residing in the north to leave by October 1.

On the dangers allegedly posed by those agitating for restructuring and a Biafran State, the northern governors drew attention to contemporary history of countries where such tendencies led to destabilisation.

“We must constantly be aware of the terrain and times. We have a country that has gone through a civil war, military coups and counter-coups, some of them bloody, prolonged military dictatorships, several false starts as a democracy, insurgency and banditry and a huge youth population whose huge expectations are far from being met. Our peculiar circumstances have made it difficult to deliver and what we need is trust and hope to see us through the difficult times. We shall overcome, but we need all the survival techniques our collective talent can muster.”

The governor of Kaduna State, Mallam Nasir El-Rufai, in an address, said: “We commend the resilience of our communities in the North-East which has begun the process of recovery from the ravages of insurgency.

“Security remains a challenge across our states. The frequency and savagery of communal clashes in some of our states, and the prevalence of untoward phenomena such as rural banditry, cattle-rustling and kidnapping need to be tackled. The festering sores left by previous conflicts in which proper closure, accountability for crimes and reconciliation were not effected appear to be accelerating a descent into impunity and a situation in which many elites are too short-sighted to recognise the dangers of embroiling our communities in repeated cycles of violence.”

And as the October 1 ultimatum given to Igbo to vacate the north approaches, a South West group, Yoruba Liberation Command (YOLICOM) has declared secession from Nigeria and sought the creation of Oduduwa Republic.

Making the declaration yesterday in Lagos, the group said it had no apology for the decision, as its people wished to see an end to the over
100 years of bitter acrimony, ethnic rivalry, savage killings, blackmail of the Yoruba nation, and excruciating burden of coming from a country with the stigma of terrorism.

The group’s spokesman, Opeoluwa Akinola, who disclosed this at a press conference held at Ogba, said it was time for the Yoruba nation to exit the ‘axis of evil’ called Nigeria, having endured its misery, destruction of values and the cultural genocide inflicted on its heritage.

“We totally reject the idea of restructuring as proposed. It is an attempt to restructure Nigeria on their own terms and not on the terms of the people. Nigeria will never be genuinely restructured by the present crop of political leaders who are themselves beneficiaries of the same skewed system.

“Even if the country will be restructured, it will pass through the National Assembly, which was created during the era of military rule of the Fulani to ensure an upper hand for the Fulani North. The National Assembly is an organ of the Fulani and their agents, so also is the Nigerian military, which has continuously been used to repress, intimidate and humiliate Nigerians,” he said.

Akinola lamented that Nigeria has become a burden on the Yoruba people and its people have been exposed to unimaginable threats of violence, wiping off entire families through clubbing to death, kidnapping, savage killings, rape of infants, stealing of public wealth and public display of stolen wealth with arrogance by the criminals.

“We hereby display the proposed flag of the Yoruba nation as a symbol of mobilisation of our long suffering people, out of the huge
slum and prison called Nigeria, a country built and sustained by corruption, blood-shedding, malicious damage and total contempt for humanity.

“We call on the United Nations (UN) to immediately put the machinery in motion for the immediate dissolution of Nigeria and set the captives free. If Nigeria fails to heed this advice to dissolve the unholy and cruel union, the perpetrators and beneficiaries of the blood- sucking nation will have themselves to blame,” he warned.
http://allnews.uodoo.com/en-ng/detail/3637183085296988?uc_param_str=dnfrpfbivesscpgimibtbmntnijblauputoggdnw&opt=list_auto&app=h5_iflow&reco_id=7f00ace6-7288-4bca-93a7-082055a2a77a&rs=prof&channel_id=10069901&entry1=topsites&entry2=list&entry=browser

Ok

2. Palm Islands


The Palm Jumeirah is one of the three sets of man-made islands, the Palm Islands, on the coast of Dubai, in United Arab Emirates. This archipelago was built using land reclamation by a UAE government owned company, Nakheel. Shaped like a palm tree, it is the original and the smallest of the three Palm islands of which the other two are incomplete, extending into the Persian Gulf.

1. The World Islands


The World Islands in the Persian Gulf is another of the many sets of artificial islands in Dubai. This archipelago is made of small islands which are placed roughly in the shape of the world map about 100 metres apart. They are composed of sand which is dredged from the shallow coastal waters of Dubai. It was originally conceived by the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum.

There are several other artificial or man-made islands, and many more on their way. These artificial islands may be the new answer to the growing need for land. The population today has grown to the point that landforms all over the world are not enough. Apart from that, these islands can also serve as the platforms for several other purposes, including industrial, scientific, ecological and other needs. Many other purposes can be served by these islands, if planned properly. Scientists seem to believe that they may even solve the problem of rising water levels. To top it all, the artificial islands add to the aesthetic value of the world.

http://www.wonderslist.com/top-15-artificial-islands-amazing-man-made-islands/

5. The THUMS Islands


The THUMS Islands in San Pedro Bay are a set of man-made islands off the coast of Long Beach, California. Built in 1965 to tap into the East Wilmington Oil Field, these are the only decorated oil islands in the US, with tall structures to conceal the drill rigs including The Condo, a waterfall and significant landscaping. Island Grissom and Freeman Island are among the most beautiful of these.

4. Amwaj Artificial Islands


The Amwaj Islands I Bahrain are a group of man-made islands in the Persian Gulf. These islands were reclaimed from the shallow seas. These are a pioneering project to offer 100% freehold ownership to expatriates in Bahrain. It has recently become fit for residential purpose, with complete infrastructure, complete with commercial and residential buildings, hotels, and a circular marina.

3. Île aux Cygnes


The Île aux Cygnes in France is a small artificial island in the Seine in Paris, located in the 15th and 16th arrondissement. Formed in 1827 in order to protect the port of Grenelle. There are three bridges crossing it, and a tree-lined walkway. One of the major features of this island is the one-fourth scale Statue of Liberty replica, which faces in the direction of the original Statue of Liberty in New York.

8. Artificial Islands of Uros


The islands of Uros, Peru, are made from reed growing along the edges of Lake Titicaca, Puno, by bundling these reeds into floating island platforms. Each of these artificial islands have 2-10 reed houses, depending on the size. The biggest island has a watchtower. But, tourists are affecting the traditional culture of the Uros people. Environmental and health issues are also on the rise, here.

7. Spiral Island


Spiral Island in Mexico is a floating man-made island, in true sense of the term. Built by British artist Richard “Reishee” Sowa back in 1998 using more than a quarter-million plastic bottles, it got destroyed by hurricane Emily in the year 2005. However, he started rebuilding the island to make it bigger and better. Since 2008, a replacement island named Joyxee Island has been open for visits.

6. Peberholm


Peberholm is an artificial island in the Danish part of the Öresund strait as a part of the Öresund Bridge which connects Denmark with Sweden. This small but picturesque island was built to have a crossover point between the bridge and the tunnel that had been built for an obstacle-free link between Sweden and Denmark. Only biologists are allowed annually here, to preserve its ecology.

11. Venetian Artificial Islands


The Venetian Islands project in Biscayne Bay are a chain of man-made islands, connected by bridges from the Miami mainland to the Miami Beach in Florida. One of the most prominent sets of islands, among the many artificial islands in Miami, the islands include Belle Isle, Rivo Alto, Di Lido, San Marino, San Marco and Biscayne. The Flagler Monument is an uninhibited picnic island built in 1920.

10. Kamfers Dam Island


In the Kamfers Dam lake of South Africa lies an artificial island in the shape of a giant “S” in the north of Kimberley. It has been an important breeding ground of Lesser Flamingos since its construction by Ekapa Mining using 26,000 tons of material, back in 2006, with almost 50,000 flamingos living on this island. However, due to deteriorating water quality and rising water levels, the island is in danger.

9. The Pearl-Qatar


The Pearl-Qatar is a man-made island of almost 4 million square meters, in Doha, Qatar. The first land in Qatar available for freehold ownership by foreign nationals, this island saw an increase in its population from 3,000 in 2011 to 12,000 in 2015. Developed by United Development Company, the project is expected to accommodate great entertainment facilities for residents as well as tourists.

13. Artificial Islands for Tokyo Disneyland


Tokyo Disneyland is an internationally famous theme park in Japan, set on a man-made island in Urayasu, Chiba. The Tokyo Disney Resort is one of the greatest tourist spots, and it is the first Disney park built outside the United States, and it celebrated its 25th anniversary in 2008. The island resort has five hotels within walking distance from the themed areas, as well as four Japanese airports.

12. Willingdon Island


The Willingdon in India is the largest artificial island in the country. It is a part of the city of Kochi, in Kerala. Much of it is claimed from the Lake of Kochi, constructed by filling in dredged soil around a natural island that existed previously. It is important as the home for Port of Kochi and Kochi Naval Base, as well as other establishments. There are several hotels and business centres on this island.

There is something mystic about islands. Islands stand in solitariness amidst all the infinite blue waters. Islands were once enamoured in mystery. Today, due to the advancement of science, man has mastered the art of making their very own artificial islands. All over the world, there are some incredible man-made islands. Man has put together beauty and utility. Let us look at some of the most incredible artificial islands in the world.

15. Thilafushi


Thilafushi is an artificial island in Maldives, to the west of Malé, in Maldives. Geographically a part if the Vaadhoo channel, it is located between the Kaafu Atoll’s Giraavaru and Gulhifalhu. Built on reclaimed coral reefs in 1992, it is a dumping ground for over 300 tons of rubbish. Reportedly growing at a rate of about 0.92 square meters a day, the landmass has attracted entrepreneurs.

14. Balboa Island


The Balboa Island in Newport Beach of California is a chain of three modified or artificial islands that include the Balboa Island, Little Balboa Island and Collins Island. There is a bridge that connects the Balboa Island community to the mainland, with ferryboats further connecting the two. With about 3,000 residents in 0.52 square kilometres, it is one of the densest communities in Orange County.

12 Wild Facts About Hyenas

BY LYZ LENZ
MAY 1, 2015
Hyenas are more than the carrion-eating villains of The Lion King. Though you may not ever fall in love with these cunning animals, it’s hard not to respect them.

1. A HYENA’S LAUGH INDICATES SOCIAL STATUS.
Hyenas don’t just laugh for fun. Scientists say that the pitch and the note frequency (or tone) of a hyena’s laugh can give an indication of its age and social status.

2. HYENAS ARE SMARTER THAN CHIMPS.
The size of an animal's frontal cortex is believed to be connected to its social intelligence, and hyenas have a frontal cortex on par with primates. A study done by Duke University showed that a captive pair of hyenas performed better at problem-solving and social cooperation than chimpanzees. Even more amazing is that during the study, the hyenas solved all the problems in silence, using only non-verbal signals for communication.

3. THEY KILL BABY LIONS.
Hyenas and lions often fight over the same territories and hunt the same prey. This leads to fierce competition between the two animals. They steal each other’s food and kill off the young of their enemies.

4. SPOTTED HYENAS ARE CUNNING KILLERS.
Despite what Simba would have you believe, spotted hyenas don’t just scavenge for lion leftovers. Spotted hyenas hunt and kill in packs. Ninety-five percent of what a hyena eats comes from hunting. A group of hyenas can devour an entire zebra, leaving no leftovers—not even the bones—in under half an hour. However, this feeding frenzy comes at a cost; hyenas rip, claw, and fight with one another over the remains of their meal.

Of course, striped hyenas are a different story. Striped hyenas live off of carrion and are often hit by vehicles while eating road kill.

5. FEMALE HYENAS RULE.
Female spotted hyenas are more muscular and more aggressive than their male counterparts. This is because the females have three times as much testosterone in their bodies. As a result, spotted hyena societies are matriarchal. Even baby girl cubs rule over the boys.

6. THE FEMALE SPOTTED HYENA HAS A PENIS.
Female spotted hyenas have a pseudo-penis that is basically an elongated clitoris. Some pseudo-joysticks can grow up to seven inches long, totally besting the average length of the human penis.

7. THE LIFE OF A BABY HYENA ISN'T EASY.
The female spotted hyena uses her pseudo-penis for urination, copulation, and birth, which can make the birthing process difficult—it’s estimated that 60 percent of hyena cubs die from suffocation. (It's dangerous for the mothers, too; the baby cubs can tear the pseudo-penis lining, an injury that can prove fatal.) Those that do survive face several hardships of their own: Female hyenas have only two nipples, so litters of more than two have to fight to survive, leaving the weakest cubs to die of starvation.

8. THEY HAVE CREEPY GREETING CEREMONIES.
When a spotted hyena greets another hyena after a long separation, they engage in greeting ceremonies during which both male and female members of the species develop erections.

9. BEING A MALE SPOTTED HYENA IS HARD.
In women-dominated spotted hyena clans, adult males are the lowest of the low. When the male hyena reaches sexual maturity at the age of two, he leaves home and goes to find a new group. This is a violent and vicious process. When the new group's alpha female finally allows the male in, he is welcomed by being constantly harassed and forced to struggle for food and sex.

10. HYENAS ARE DIFFICULT TO TAME.
Historians theorized that ancient Egyptians domesticated striped hyenas and used them as a food source. In ancient hieroglyphics, hyenas are often depicted in subordinate positions, being hunted and tamed. But in a 2010 paper published in the International Journal of Osteoarchaeology, A. J. Legge surmises that this was all just Egyptian pomp. Because the striped hyena lives off of carrion, they would make for a terrible meal (what with all that trichinosis)Legge concludes that while hyenas may have been tamed for a period, it didn’t last long.

11. MOST OF THE MYTHS SURROUNDING HYENAS ARE JUST THAT.
Sordid myths and legends about hyenas abound. In Tanzania and India, legend holds that witches ride hyenas. An Ethiopian folk religion tells of people who possess the evil eye and can change themselves into the creatures. In the Middle Ages, hyenas were believed to dig up and consume the bodies of the dead. (It’s worth noting that they do nothing of the sort.)

12. HEMINGWAY HATED HYENAS.
Given their reputations as scavengers—and their creepy laughs—it makes sense that plenty of people don’t like hyenas. In Green Hills of Africa, Ernest Hemingway wrote:

Fisi, the hyena, hermaphroditic self-eating devourer of the dead, trailer of calving cows, ham-stringer, potential biter-off of your face at night while you slept, sad yowler, camp-follower, stinking, foul, with jaws that crack the bones the lion leaves, belly dragging, loping away on the brown plain …

Hemingway: 1, Hyenas: 0.

Ur body ur problem

Wow! That's cool

Nice one op
May God give more insight. I'm bless

Chemical engineering

forreelinc:
ugh! No pictures WTF?
Na newspaper u come dump ere make we read

There are picture but i could'nt upload it.
How can I upload picture on NL ?

- A woman has taken the pain to celebrate the birthday of her son in an exceptional way

- The brave mother decided to bath and bottle feed her son again even though he is a grown man

A woman has proved to the world that the joy of motherhood is deeper than the mind could fathom with her actions towards her grown up son. The poor woman decided to celebrate the birthday of her grown up son in the most remarkable way.

While the way she went about it could be said to be beatinest, the woman drove a point home by making people understand that a mother will always be a mother.

She also proved that parents would always look after their wards irrespective of their ages or sizes.


Photo of the woman feeding and bathing her son to celebrate his birthday.

To celebrate the birthday of her son, the woman bottle fed him and bath him by making him sit in a bathing bowl used for babies. Both mother and son must have had a lot of fun doing this as it would bring beautiful memories of his childhood back.

While this act is thought to be creative and loving by some, others may see it as being unusual and uncalled for. This woman gave her son a unique birthday gift; one he may never forget in his life.

What are your thoughts towards this mother and son?

Etisalat Nigeria takenEtisalat Nigeria taken over by Access Bank, othersBy John Owen Nwachukwu on June 20, 2017

One of Nigeria’s telecommunication companies, Etisalat has now been taken over by ten major Nigerian lenders.

The lenders include, Zenith Bank, GT Bank, First Bank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank and Union Bank.

The take-over came as a result of a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one time Chairman, United Bank for Africa, UBA, Hakeem Bello-Osagie, to reach agreement with the banks on debt restructuring plan in the protracted $1.72 billion (about N541.8 billion) debt impasse.

However, EMTS Holding BV, established in the Netherlands, has up to June 23 to complete the transfer of 100 percent of the company’s shares in Etisalat to the United Capital Trustees Limited, the legal representative of the consortium of banks.

Etisalat Group, the parent company of Etisalat Nigeria, announced the takeover on Tuesday in a letter filed to the Abu Dhabi Securities Exchange in Abu Dhabi, United Arab Emirate.

A letter dated June 2017, with No. Ho/GCFO/152/85 signed by Etisalat Group Chief Financial Officer, Serkan Okandan, noted that efforts by EMTS to restructure the repayment of the syndicated loan by a consortium of banks to Etisalat Nigeria collapsed.

It added, “Further to our announcement dated 12 February, 2017, Emirates Telecommunications Group Company PJSC, ‘Etisalat Group’[ would like to inform you that Emerging Markets Telecommunications Services Limited ‘EMTS’ (‘the company), established in Nigeria and an associate of Etisalat Group with effective ownership of 45% and 25% ordinary and preference shares respectively, defaulted on a facility agreement with a syndicate of Nigerian banks (‘EMTS Lender

“Subsequently, discussions between EMTS and the EMTS Lenders did not produce an agreement on a debt restructuring plan.

“Accordingly, the Company received a default and security Enforcement Notice on 9 June 2017 requesting EMTS Holding BV (EMTS BV) established in the Netherlands, and through which Etisalat Group holds its interest in the company) requiring EMTS BV to transfer 100% of its shares in the company to the United Capital Trustees Limited (the Security Trustee”) of the EMTS Lenders by 15 June 2017.

“Subsequently the EMTS Lenders extened the deadline for the share transfer to 5.00 pm Lagos time on 23 June 2017,” the filing said.

The Telecommunication company has been under pressure since 2016, following the demand notice for the recovery of a $1.72 billion (about N541.8 billion) loan facility it obtained from a consortium of banks in 2015.

The loan, which involved a foreign-backed guaranty bond, was for the mobile telephone operator to finance a major network rehabilitation and expansion of its operational base in Nigeria.

Unable to meet its debt servicing obligations agreed since 2016, the consortium, prodded by their foreign partners, threatened to take over the company and its assets across the country. over by Access Bank, othersBy John Owen Nwachukwu on June 20, 2017

One of Nigeria’s telecommunication companies, Etisalat has now been taken over by ten major Nigerian lenders.

The lenders include, Zenith Bank, GT Bank, First Bank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank and Union Bank.

The take-over came as a result of a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one time Chairman, United Bank for Africa, UBA, Hakeem Bello-Osagie, to reach agreement with the banks on debt restructuring plan in the protracted $1.72 billion (about N541.8 billion) debt impasse.

However, EMTS Holding BV, established in the Netherlands, has up to June 23 to complete the transfer of 100 percent of the company’s shares in Etisalat to the United Capital Trustees Limited, the legal representative of the consortium of banks.

Etisalat Group, the parent company of Etisalat Nigeria, announced the takeover on Tuesday in a letter filed to the Abu Dhabi Securities Exchange in Abu Dhabi, United Arab Emirate.

A letter dated June 2017, with No. Ho/GCFO/152/85 signed by Etisalat Group Chief Financial Officer, Serkan Okandan, noted that efforts by EMTS to restructure the repayment of the syndicated loan by a consortium of banks to Etisalat Nigeria collapsed.

It added, “Further to our announcement dated 12 February, 2017, Emirates Telecommunications Group Company PJSC, ‘Etisalat Group’[ would like to inform you that Emerging Markets Telecommunications Services Limited ‘EMTS’ (‘the company), established in Nigeria and an associate of Etisalat Group with effective ownership of 45% and 25% ordinary and preference shares respectively, defaulted on a facility agreement with a syndicate of Nigerian banks (‘EMTS Lenders’).

“Subsequently, discussions between EMTS and the EMTS Lenders did not produce an agreement on a debt restructuring plan.

“Accordingly, the Company received a default and security Enforcement Notice on 9 June 2017 requesting EMTS Holding BV (EMTS BV) established in the Netherlands, and through which Etisalat Group holds its interest in the company) requiring EMTS BV to transfer 100% of its shares in the company to the United Capital Trustees Limited (the Security Trustee”) of the EMTS Lenders by 15 June 2017.

“Subsequently the EMTS Lenders extened the deadline for the share transfer to 5.00 pm Lagos time on 23 June 2017,” the filing said.

The Telecommunication company has been under pressure since 2016, following the demand notice for the recovery of a $1.72 billion (about N541.8 billion) loan facility it obtained from a consortium of banks in 2015.

The loan, which involved a foreign-backed guaranty bond, was for the mobile telephone operator to finance a major network rehabilitation and expansion of its operational base in Nigeria.

Unable to meet its debt servicing obligations agreed since 2016, the consortium, prodded by their foreign partners, threatened to take over the company and its assets across the country