Fidelity Bank says has $56 mln exposure to Etisalat Nigeria

Thu Mar 16, 2017 11:21am GMT

LAGOS, March 16 (Reuters) - Fidelity Bank has exposure of around 17.5 billion naira ($56 million) to Etisalat Nigeria, the Nigerian lender's investor relations team said on Thursday.

The Nigerian arm of Abu Dhabi-listed telecoms company Etisalat is in talks with local banks to renegotiate the terms of a $1.2 billion loan it took out four years ago after missing a payment. ($1 = 314.50 naira) (Reporting by Chijioke Ohuocha; editing by Jason Neely)

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