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.
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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