Just In: Thousands To Lose Jobs As Etisalat Quits Operation In Nigeria

The telecom company of Etisalat has just ended its service in Nigeria.

Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate a $1.2 billion
loan failed.

Abu Dhabi’s Etisalat has
terminated its management agreement with its Nigerian arm and given the business time to phase out the brand in Nigeria, the chief executive of Etisalat International told Reuters on Monday.

All UAE shareholders of Etisalat Nigeria have exited the company and have left the board and management, Hatem
Dowidar said in an interview.

Dowidar said discussions were ongoing to provide technical support, adding that it can use the brand for another three weeks before phasing it out.

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Nigerian Cable News