The CEO and CFO of Etisalat Nigeria, Matthew Willsher and Olawole Obasunloye, respectively have resigned.
This is coming some days after the resignation of the Chairman, Hakeem Bello-Osagie and some Mubadala directors of the United Arab Emirate (UAE) firm.
A new board has been constituted. The new board appointments are: Dr. Joseph Nnanna (CBN), Mr. Oluseyi Bickersteth (KPMG), Mr. Ken Igbokwe (PWC), Mr. Boye Olusanya (former DMD of Celtel) and Mrs. Funke Ighodaro (former CFO, Tiger Brands)
Their resignations came on the heels of the protracted loan impasse of the $1.2 billion the telecommunications firm is owing a consortium of 13 banks, which has subsequently led to the pull out of the parent body and major investor, the Mubadala Group.