Telecom
FG to Offload Stake in Nitel
Federal government has began the process of selling its stake in Nigerian Telecommunications Limited (Nitel) as the National Council on Privatization (NCP) has approved the advertisement for Expressions of Interest by core group/strategic investors to acquire 51% equity stake in the Nigerian Telecommunications Plc (Nitel) and its mobile arm, M-tel.
This follows extensive consultations and negotiations between the NCP/BPE and Transnational Corporation (Transcorp) on one hand and other stakeholders to begin the process of engaging a new core investor with the requisite technical, managerial and financial resources to take over the management of Nitel from Transcorp, its current managers.
The NCP, chaired by Vice President Goodluck Jonathan, took the decision at its 57th meeting held on Thursday, February 26, 2009, in Abuja.
To be prequalified, prospective investors must be reputable telecommunications operators with track record in the telecommunications sector. They should also possess verifiable evidence such as, at least two million fixed or GSM lines installed by one or more telecommunications companies that the strategic investor operates or controls; proven track record of expanding a telecommunications network of fixed or mobile lines; a minimum net worth of at least US$500 million; and where the prospective investor is a consortium, the operator must own at least 51% equity in the bidding vehicle.
It would be recalled that in 2006, the Federal Government sold 51% stake to TranscorpP Plc and retained 49%. The shareholders mutually consented to re-structure the current shareholding and admit a core investor who will buy a 51% stake in the company.
The 51% will be contributed by both the Federal Government and Transcorp Plc. To accomplish the government’s objectives, the BPE and Transcorp had earlier obtained the services of an advisory consortium comprising financial, legal, marketing, accounting, technical and valuation advisers to advise it on the privatisation process.
Consequently, a consortium led by BNP Paribas/Eleda Capital Partners was engaged to, among others, review the operations of Nitel and M-tel and prepare information memorandum. The consortium would also prepare valuation reports that will give an indicative base price for the enterprise as well as prepare draft contract documents and all other transaction documents required for an open, transparent and competitive bidding process.
The consortium would also be expected to market Nitel/M-tel to prospective investors and assemble all documents required in hosting data room. It will also evaluate the technical proposals submitted by prospective core investors and advise the NCP accordingly and prepare a comprehensive post-transaction report for Council.
Council also approved the setting up of an Advisory Committee on Nitel transaction. The Committee which is headed by the Chairman of its Technical Committee, Mohammed Hayatu-Deen, with membership drawn from BPE, Transcorp and NCP Chairman’s Office is expected to make definite proposals to the NCP on modalities for resolving all issues which may hinder a smooth transaction process
As part of its assignment, the Advisory Committee was directed by the NCP to work with Transcorp to deploy more human resources in the Accounts Department of Nitel to ensure speedy completion of Nitel/M-tel audited accounts in time for the transaction.
With the introduction of Travel Saga, a premium, fast-paced gaming experience that is currently live and accessible to customers on its network, Globacom has lifted the bar for mobile entertainment in the country.
Travel Saga is a story-driven, intricately connected role-playing game designed to provide the thrill, complexity, and competitive intensity of some of the most well-known action games in the world.
The game, which has been painstakingly optimized for mobile devices, redefines mobile gaming as a full-fledged digital battlefield by translating a console-grade experience onto data-enabled handsets.
Fundamentally, Travel Saga takes users on quick virtual journeys against recognizable international landscapes. In a dynamic, ever-evolving gaming environment, players are thrown into furious missions, fierce fights, and ever-expanding tales where talent, strategy, and endurance determine who rises through the ranks to become a true war hero.
In addition to the excitement of fighting, users are encouraged to go to various locations, take part in thrilling challenges, and participate in intense competition for in-app rewards like points and victory badges. With each encounter and accomplishment, the immersion increases with each level, maintaining momentum and excitement.
Flexible subscription plans with one-time or auto-renewal choices are available to subscribers for the service, which costs ₦100 per day and ₦250 per week. By dialing *70021#, customers can quickly subscribe and gain instant access to the action.
With Travel Saga, Glo reaffirms its dedication to innovation and high-end digital experiences, making top-notch gaming easily accessible to its customers. The game offers uninterrupted action, adventure, and competition, all smoothly supported by the Glo network.
SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.
SHELT
The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.
SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.
“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”
The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.
Meta Platforms, owner of Facebook, has appointed Dina Powell McCormick, a former adviser to President Donald Trump, as its new president and vice chairman, bolstering its leadership amid aggressive AI and infrastructure expansion.
Dina Powell McCormick
The announcement, made on Monday, positions Powell McCormick – who recently stepped down from Meta’s board after eight months – to guide overall strategy, including multi-billion-dollar investments in data centres and global partnerships.
A Goldman Sachs veteran with 16 years in senior roles and prior stints as deputy national security adviser under Trump and in the Bush administration, she brings deep finance and international ties to the role.
Meta CEO Mark Zuckerberg hailed her as “uniquely qualified” for the company’s next growth phase, while President Trump praised the move on Truth Social as a “fantastic choice”.
The hire signals Meta’s efforts to strengthen White House relations, following recent dinners with Trump and U.S. investment pledges worth hundreds of billions
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