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Nigeria's UBA makes provision on loans to 9mobile
August 29, 2017 / 2:57 PM / 22 days ago

Nigeria's UBA makes provision on loans to 9mobile

LAGOS, Aug 29 (Reuters) - 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.

$1 = 305.0000 naira Reporting by Chijioke Ohuocha; Editing by Mark Potter

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