UBA makes provision on loans to 9mobile

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LAGOS, AUGUST 29, 2017 – Nigeria’s United Bank for Africa (UBA) said on Tuesday it had made a provision on loans made to 9mobile, the mobile operator formerly known as Etisalat Nigeria.

The lender did not give details of the provision but said it had a 38 billion naira ($125 million) exposure to 9mobile.

UBA said the exposure was secured, and part of a syndicated loan with a group of 12 other banks extended to 9mobile four years ago.

DCSL 90X780

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