Senate Resolves to Intervene in One Point Two Billion Dollars Debt Crisis Rocking Etisalat, Nigeria

The Senate took the decision in a bid to secure the job of Nigerians working in the telecommunications company, which is put at four thousand.
Senator ADEOLA OLAMILEKAN of Lagos West moved the motion, which was supported by Senator MAGNUS ABE of Rivers South-East, among several others.
 Consequently, the Senate Committees on Banking, Communications, Capital Market and National Security were mandated investigate the utilization of the loan given to Etisalat by a consortium of thirteen banks.
The Committees are expected to make recommendations on ways to prevent a repeat of such crisis in future, while relevant financial agencies of government were also called upon to investigate the management of Etisalat and sanction all defaulting parties.