The China Great Wall Industry Corporation (CGWIC) has threatened to suspend operations of Nigeria’s communications satellite, NigComSat-1R, over an outstanding debt of $11.44 million accumulated over the past seven years. The company gave Nigerian Communications Satellite Limited (NigComSat) 30 days to settle the debt or provide a legally binding guarantee, failing which it warned it would shut down the satellite. According to reports, the ultimatum was conveyed in a letter addressed to the Managing Director of NigComSat Ltd., and copied to President Bola Tinubu. The letter signed by Liu Lan,…
Read More$11.44m debt: China threatens to shut down Nigerian communications satellite
