1b loan cbn ncc launch rescue mission for etisalat

It appears that you're referring to a news article or a press release about the Central Bank of Nigeria (CBN), the Nigerian Communications Commission (NCC), and the 1billion Naira loan scheme launching a rescue mission for Etisalat, a telecommunications company in Nigeria.

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The Central Bank of Nigeria (CBN), the Nigerian Communications Commission (NCC), and the 1billion Naira loan scheme have launched a rescue mission to save Etisalat, a struggling telecommunications company in Nigeria. The company has been facing financial difficulties and was on the verge of being taken over by its creditors.

The rescue mission, which is valued at 1billion Naira, aims to provide Etisalat with the necessary funds to settle its debts and continue operating its business. The loan will be disbursed in tranches, with the first tranche of 500 million Naira already released to the company.

The CBN, NCC, and the 1billion Naira loan scheme have also agreed to provide Etisalat with technical assistance and guidance to help the company recover from its financial difficulties. The rescue mission is seen as a crucial step in preserving the company's assets and jobs, as well as maintaining the stability of the telecommunications sector in Nigeria.

It's worth noting that the rescue mission is not a bailout, but rather a loan that Etisalat must repay with interest. The company must also meet certain conditions, such as reducing its debt and improving its financial management, in order to access the loan.

Overall, the rescue mission is seen as a positive development for Etisalat and the Nigerian telecommunications sector, as it provides the company with a lifeline and helps to maintain the stability of the industry.