The following Banks; 1. Access Bank 2. Zenith Bank 3. Guaranty Trust Bank And some other Foreign whose names are not mentioned are having a serious battle with the mobile telephone operator over a loan facility totalling $1.72 billion (about N541.8 billion) obtained in 2015. Nigerian Communication Commission, NCC, has made an effort to creat a peaceful resolution between Etisalat Nigeria and the banks but all could not avail, this might result to Banks taking over Etisalat because of the N541.8 Billion Naira Debt. The question here is what could be the cause of Etisalat not meeting up in paying back the load? Well they led the blames of not being able to fulfil its obligation to the banks on the current Economic recession in the country.