Reports filtering in indicate that Hakeem Bello-Osagie, the Chairman of the bankrupt Etisalat Nigeria Limited, has resigned his position with immediate effect.

According to a statement obtained by PREMIUM TIMES, 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.

He was the promoter of Emerging Markets Telecommunications Services, EMTS, which controlled 15 per cent of the equity holding of the company

READ ALSO:  Korle-Bu board chairman Professor Andrews Seth Aryeettey resigns

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.

 

Source: globalvillage extra