9 Mobile: Barclays Bank Finds New Investors | Nigeria News
Connect with us

Business

9 Mobile: Barclays Bank Finds New Investors

Published

on

9 Mobile- Barclays Bank Finds New Investors

Based on the decision of the Nigerian lenders, Barclays Bank has been given the responsibility of finding new investors for the 9mobile network.

9 Mobile- Barclays Bank Finds New Investors

9 Mobile- Barclays Bank Finds New Investors

9mobile, formerly known as Etisalat Nigeria, had secured a loan of $1.2bn in 2013 from a consortium of Nigerian banks to finance a major network rehabilitation project and expansion of its operational base in Nigeria.

The banks that make up the consortium include, Access Bank Plc, Zenith Bank, GTBank, First Bank, UBA, Fidelity Bank, Ecobank, FCMB, Stanbic IBTC Bank and Union Bank.

It was gathered that there are still other banks.

searchform

9mobile had been having an issue paying the debt and the banks have threatened to take over the company.

There was, however, a restructuring of debt of $547m which yielded no results.

To salvage the situation, Reuters has it that Barclays Bank has started work to set up a database for new investors.

Banking Sources, however, said that Standard BAnk and Citigroup were in running for the role of seeking new investors for the firm but they were not granted based on their former business relationship with 9mobile.

 Standard’s local unit, Stanbic IBTC Bank, is among the group of lenders to 9mobile while Citi had advised the telecom company in the past, they said.

 

 

Please share this info from NIGERIA NEWS, it is VERY important for all
  •  
  •  
  •  
  •  
  •  
  •  

Business

MTN Nigeria: See names of real owners as it goes public

Published

on

MTN Nigeria

MTN Nigeria has gone public on Thursday  and therefore the company is under the oversight of those  looking to invest. All its progress  will now be subject to the Nigerian Stock Exchange’s legal and regulatory laws.

In track with the above, the media has a responsibility to track at each and every stage in its administrative history how open or opaque a public company is.

The Cable acquired the investor list, that now owns billions in the Nigerian Stock Exchange’s second most important company. Even though MTN Nigeria is still dominated by MTN Group, the parent country, in the mobile operator, some prominent Nigerians hold billions.

Here is the Full List of the Shareholders.

searchform

Company owners

ShareholderValue (NGN)Hold
MTN Nigeria1.68 Trillion76%
STANBIC IBTC213.7 Billion9.64%
Mobile Telephone Network60.95 Billion2.75%
Gov. Employees Pension Fund38.69 Billion1.75%

Personal Owners

ShareholderValue (NGN)Hold
Victor Odili87.87 Billion3.96%
Pascal Dozie37.07 Billion1.67%
Sani Mohammed Bello28.87 Billion1.30%
Babatunde Folawiyo23.83 Billion1.08%
Gbenga Oyebode19.80 Billion0.89%
Ahmed Dazuki19.35 Billion0.87%
Karl Olutokun Toriola100.1 Million0.005%
TOTAL2.22 Trillion100%
Please share this info from NIGERIA NEWS, it is VERY important for all
  •  
  •  
  •  
  •  
  •  
  •  
Continue Reading

Business

A Good time to Invest in Cryptocurrency? as Bitcoin drops by 10% in 2 hours.

Published

on

Bitcoin Cryptocurrency price in Nigeria Naira #

Bitcoin is at the fore front when it comes to Cryptocurrency. It started out in 2009 as a peer to peer distributed banking network.

Bitcoin slowly gain popularity within the years as people saw the importance of a decentralized network i.e. a network controlled by the people with the elimination of middlemen interference.

After 2 years of operation, 1 BTC was equivalent to $31 which quickly dropped down to $2 after six months showing how volatile the Cryptocurrency market was.

By April 2013, the virtual coin has risen to $266 which rose steadily to $1000 in January 2014.

searchform

The Unstable rise and fall continued until December 2017 when Bitcoin rose to an all time high of about $20,000 for 1 BTC.

Currently, 1 Bitcoin goes for $7100 which is N2.6 Million.

Here is a live Update of the BTC coin

Powered By FX Empire logo

Although, the market is great for investment opportunity, there is need for Investors to be cautious due to the volatility of Cryptocurrency.

Please share this info from NIGERIA NEWS, it is VERY important for all
  •  
  •  
  •  
  •  
  •  
  •  
Continue Reading
Advertisement

contact us

email for nigerianews

NigeriaNews_net

Advertisement

Trending