Telecom
Etisalat Woes Deepens over $1.2Bn Debt

The fate of Etisalat Nigeria, the fourth largest telecommunications network operating in the country, hangs in the balance as the telecom giant battles to pay its creditors, according to the Nation.
Etisalat Nigeria had in 2013 obtained a seven-year loan facility of $1.2billion from 13 local banks and their foreign counterparts to refinance a $650 million loan as well as the expansion of its network but the company had missed the payment due to dollar shortfall in Nigeria’s financial system.
The loan, which involved a foreign-backed guaranty bond, was for Etisalat to finance a major network rehabilitation and expansion of its operational base in Nigeria.
The 13 local banks involved in the loan deal include: Zenith Bank, GT Bank, First Bank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank, and Union Bank.
According to the Nation, Abu Dhabi state investment fund Mubadala, the second-largest shareholder in the business, had in April presented a final restructuring plan to the banks which they flatly rejected. The banks further gave a one month window for repayment which lapsed in May 31st, 2017.
The telecoms company unable to redeem its payment, the banks have since issued Etisalat a default notice.
This is just as The Nation learnt at the weekend that Etisalat Nigeria is working with its lenders and Abu Dhabi state investment fund Mubadala, the second-largest shareholder in the business, to resolve debt woes it said were caused by a devaluation of the naira currency.
Mubadala spokesman Brian Lott told Reuters on Friday that a local media report saying that the fund has pulled out of Etisalat Nigeria was wrong and that several proposals are under discussion.
He declined to elaborate on the options being considered but said he will know more next week.
The Nigerian affiliate of Abu Dhabi-listed Etisalat has said it is in talks to restructure a $1.2 billion loan after missing a repayment, though sources have said that talks reached a deadlock on April 28.
In a statement by Ibrahim Dikko, Vice President, Regulatory & Corporate Affairs, Etisalat Nigeria, the company described as spurious news report that Mubadala Development Company, the majority shareholder of the company is exiting the business.
In the statement which reads in part, Dikko said: “Whilst it is premature at this stage of the ongoing discussion to affirm that this is the conclusive option, Etisalat Nigeria considers it pertinent to state that parties in the negotiation are considering a number of options and discussions are at an advanced stage regarding the syndicated loan agreement with the banks. It will therefore be presumptive and in bad faith to begin to predict the outcome.”
Etisalat Nigeria, he stressed, “Can confirm that negotiations with the consortium of banks regarding the syndicated loan agreement signed in 2013 have reached an advanced stage. As noted in an earlier statement, we are considering a number of options and are not taking anything off the table at this time.”
Etisalat, he further emphasised, “Remains a viable business, having recorded its best financial year in 2016. So parties are keen to ensure that the ongoing discussions and eventual outcome do not affect the day to day operations of the business whether now or after the announcement of our agreement. All parties have continually demonstrated an interest in the continued operations of Etisalat as a business as it remains a backbone of millions of small business owners; multinationals, government and indeed Nigerian subscribers in general.”
However, it does appear that the apex bank and the regulatory agency in charge of the telecoms sector are not willing to stick their necks out for Etisalat again judging by their mute indifference to the lingering crisis involved the embattled telecom company and the banks.
When our correspondents broached the subject before the CBN spokesman, Isaac Okoroafor, Acting Director of Corporate Communications at the weekend, his rather terse response spoke volumes. “Call the Etisalat people please. We have nothing to say on that.”
His counterpart at the NCC, Tony Ojobo, informed our correspondent that he was going to get back soon but never did as at the time of filing in this report.
In the view of industry experts, the future of the telecoms sector looks bleak without Etisalat. One of those who share this sentiment is Mr. Olusola Teniola, National President, Association of Telecommunications Companies of Nigeria (ATCON), the umbrella body of telecoms companies.
Speaking with our correspondent at the weekend, Teniola said the issue of Etisalat leaving is a very complex question, as the insinuation describes a scenario whereby the subscribers on their network can be easily accommodated by other networks, which is not necessarily the case.
According to him: “No single network as currently configured and engineered can provide the requisite capacity to cater for any additional traffic burden a collapse of any single mobile network operator with over 20million subscribers will cause. It is more feasible that a more likely scenario of a merger or acquisition will occur in the form of an international player coming in to ensure continuity of Etisalat’ operations. This is more of a preferred scenario that should occur anything else will be disastrous for the consumers’ choice.”
Options before Etisalat, banks
Among the many options before Etisalat is to sellout its entire equity. The telco also ran into problem in Tanzania when the owners refused to put in more money. Specifically, United Arab Emirates telecom operator Etisalat had in 2015 sold its 85 percent stake in Zanzibar Telecom Limited (Zantel) to Sweden’s Millicom.
Zantel, which has struggled against larger rivals Vodacom and Bharti Airtel, got up to $32million in net current liabilities at close of the deal, Etisalat said in an emailed statement.
Etisalat received $1 in cash while Millicom assumed the total debt obligations of $74million under the terms of the agreement subject to regulatory approval by the Tanzanian Communication Regulatory Authority.
According to a source in one of the dealing banks who asked not to be named, one of the options the banks proposed to Etisalat management as a middle way out of the crisis was for it to request for a bankruptcy status.
The official, who requested that his name should not be revealed, since he was not authorised to speak on behalf of the consortium, said the bankruptcy option would require having receivership management appointed by the banks to oversee its operations.
The other option before Etisalat is to go into a merger with the existing telcos operating in the country. Already MTN had in the past signified interest to buy Etisalat but had to back pedal following its trouble with the NCC over unregistered sims.
However, reliable sources say Globalcom may also be interested in Etisalat buyout but the telecom giant is said to be keeping its plan under wraps.
One of the options before the banks is to approach the court and get the board dissolved and take the company into receivership. But the challenge however is that the banks can’t run the firm because they don’t have operating license neither do they have the technical knowhow to do so.
But, the NCC appears not to be favourably disposed to the takeover proposal, the source said, as it believed that Etisalat is not only a viable going concern but also willing and able to negotiate the servicing of its loans.
Etisalat has the option of running to NCC for help but informed sources say Etisalat has not been carrying them along. But the NCC sources say they are ready to protect the over 21million subscribers on the network.
Telecom
Meta, FG Unveil New Safety Measures to Protect Nigerian Teens Online

Meta on Thursday convened the Nigeria Youth Safety Summit in Abuja, bringing together government officials, civil society organisations, parents, educators, content creators and youth leaders to strengthen collaboration on digital wellbeing and safer online experiences for young people.

L-R: Sylvia Musalagani, Head of Safety Policy, Europe, Middle East and Africa (EMEA), Meta; Ayodele Olawande, Honourable Minister of Youth Development; Sade Dada, Head of Public Policy, Anglophone West Africa, Meta; and Ahmed Yusuf Tanbuwal, Ag Director, Digital Literacy and Capacity Building Department, National Information Technology Development Agency (NITDA), during the Nigeria Youth Safety Summit organised by Meta on Thursday, June 25, 2026, in Abuja.
The summit, held at the Transcorp Hilton Hotel and co-hosted with the Federal Ministry of Youth Development, highlighted Meta’s investments in youth online safety through built-in protections, parental supervision tools and digital literacy resources aimed at helping teenagers navigate the digital space safely.
The event featured keynote presentations, panel discussions and a Parents Learn and Brunch session organised in partnership with the Federal Ministry of Women Affairs and Social Development.
Participants explored practical approaches to promoting safer online engagement while emphasising the importance of partnerships among government, technology companies, parents, schools and civil society in advancing digital wellbeing.
Speaking at the summit, Meta’s Head of Safety Policy for Europe, the Middle East and Africa (EMEA), Sylvia Musalagani, said the company remained committed to providing teenagers with age-appropriate and safe online experiences.
“At Meta, our goal is to provide teens with safe, age-appropriate online experiences, and events like the Nigeria Youth Safety Summit reflect our commitment to promoting safer and more positive digital experiences for teens.
“With products such as Teen Accounts, Meta is putting the right protections in place so teens can explore their interests and express their creativity in a safe, age-appropriate space.
“We will continue to build the safety features and tools that families need to support young people online,” she said.
Musalagani explained that Teen Accounts represent a redesigned experience across Meta’s platforms specifically for teenagers.
She said the accounts are automatically enabled for all teenagers and include built-in safety features such as private accounts, the strictest messaging settings, restrictions on sensitive content, limited tagging and mentions to people they follow, daily time reminders after 60 minutes of use, and sleep mode between 10 p.m. and 7 a.m.
According to her, teenagers under the age of 16 require parental approval before making any changes that would reduce the default safety settings.
The Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim, described child online safety as one of the ministry’s key priorities.
She said children require informed parental guidance to safely navigate the digital environment, stressing that online safety is a shared responsibility involving parents, technology companies and government.
“Child online safety is one of our central pillars and we are steadfast in our mandate to safeguard the Nigerian child from technology-enabled violence.
“Children cannot navigate the complexities of the online world without informed adults guiding them because safety begins with the parents.
“Safety is a shared tripartite responsibility between parents, technological industries and government.
“That is the fundamental premise of today’s summit, a hands-on walk through of parental supervision tools and Teen Accounts.
“We appreciate Meta for the collaboration and for creating a platform for these important conversations,” she said.
Meta also highlighted its parental supervision tools, which allow parents to receive notifications when teenagers report content, gain insights into who they communicate with, set daily usage limits, schedule breaks and monitor age-appropriate content interests.
The Minister of Youth Development, Ayodele Olawande, commended Meta for the initiative and noted its alignment with the ministry’s National Youth Data Protection and Awareness Training Programme.
“I want to thank Meta for this great achievement.
“At the ministry, one of the things we provide to all Nigerians is the skills to succeed in this digital world while making sure we protect them against emerging threats.
“We see a strong connection between the objectives of this summit and the goals of our National Youth Data Protection and Awareness Training Programme.
“We believe that keeping young people safe online is a shared responsibility.
“Government, technology companies, schools, parents, social organisations, community groups and young people themselves all have a role to play.
“We encourage Meta to make the tools, guides and learning materials from this initiative more widely available so that young people across Nigeria can continue to benefit from this laudable summit,” he said.
The summit concluded with discussions focused on strengthening partnerships, promoting digital literacy and advancing a shared vision for youth online safety across Nigeria.
Telecom
MTN Chairman Blasts Xenophobia, Says South Africa Is Nothing Without Africa

Mcebisi Jonas, MTN Group Chairma,n has used the funeral service of Zimbabwean-born activist and public servant Thokozani Damasane to mount a sweeping attack on xenophobia, ethnic politics and state failure in South Africa, warning that the country’s crisis cannot be solved by blaming foreigners.

MTN Group Chairman, Mcebisi Jonas
Delivering what many described as one of the most forceful interventions yet by a senior African business leader on South Africa’s immigration debate, Jonas said the persistence of anti-foreigner sentiment was a symptom of deeper governance failures, political opportunism and the erosion of a shared moral vision.
He argued that inequality, unemployment, corruption and weak institutions would remain even if all foreigners left the country, insisting that the real problem lay in the failure of the state to govern effectively.
“Foreigners can leave tomorrow – inequality will be with us,” he said. “Foreigners will leave tomorrow – unemployment will be with us. Foreigners will leave tomorrow – our police will remain corrupt.”
Jonas, a former South African Deputy Minister of Finance, made the remarks at a funeral service that had drawn mourners from civic, political and business circles. His speech, which blended philosophy, memory, political critique and grief, has since circulated widely across South Africa and beyond.
Jonas said a central question had stayed with him as he drove to the service: what home meant to Damasane, a man who had been born and educated in Zimbabwe before moving to South Africa during the post-apartheid period.
“I was thinking, what is home to Damasane?” he told mourners. “Because I understand, and I understood very early in life, that home is where humanity is. Home is about humanness. It is about the good of humanity and striving for the good of humanity.”
He described Damasane as someone who arrived in South Africa “as an outcast” but chose to immerse himself in the struggles of the country and its people.
“He immersed himself deeply into the struggles, into the pains of South Africans, and he became one of us,” Jonas said. “In Damasane’s strength, our strength as South Africa and South Africans are reflected. And in his weaknesses, our own weaknesses are reflected.”
The sharpest portion of Jonas’ speech came when he turned to the wave of xenophobic rhetoric that has repeatedly flared in South Africa, particularly against migrants from Zimbabwe, Mozambique, Nigeria, Malawi and other African countries.
He dismissed the argument that foreigners were responsible for the country’s social and economic hardship, saying that such claims merely masked the failures of political leadership and public institutions.
“The problem is the failure of the state,” he said. “The state doesn’t manage immigration. It doesn’t manage its borders. It doesn’t enforce law enforcement. It doesn’t manage education. What are you expecting?”
Jonas accused politicians of exploiting public frustration for electoral gain, warning that communities under pressure are easily manipulated by leaders who offer scapegoats instead of solutions.
“When people feel the burn, they become vulnerable to politicians whose sole purpose is to be elected and re-elected,” he said. “Some of them have no credibility whatsoever. But they lead marches and tell our people that the problem is not us – it is foreigners.”
Jonas also used the occasion to offer a sustained critique of tribalism and ethnic identity politics, describing them as colonial constructs that have survived into the present through political manipulation.
“The tribe is a product of colonial powers,” he said. “You would notice that it is so dominant in areas where the English conquered, because they used something called the principle of indirect rule.”
According to him, colonial administrations deliberately sharpened differences between communities in order to divide and control them.
“You have got to divide these people by psychologically enhancing the notion that one is different from the other. That’s how the notion of tribe was born,” he said.
Jonas argued that the same logic now fuels xenophobic violence and exclusion, with people increasingly persecuted not because of what they have done but because of who they are perceived to be.
He said liberation movements were also guilty of keeping ethnic identities alive for political convenience.
“Liberation movements still sustain this thing of tribes – Zulu and Xhosa – and we sustain this thing as if it is real,” he said. “It is in our heads. We’re creating it because it makes us feel big. Identity politics – we must banish them in our country. Ethno-nationalism is something in this country we must banish.”
In explaining Damasane’s significance, Jonas drew on the writings of Frantz Fanon, the anti-colonial thinker and psychiatrist whose work shaped liberation struggles across Africa and the Global South.
He compared Damasane to Fanon, noting that both men were born outside the societies they later helped shape and serve.
Fanon, he said, was “born elsewhere” and was “not a Muslim,” yet became one of the most respected theorists of the Algerian Revolution. The parallel, Jonas suggested, was deliberate: Damasane, too, had chosen commitment over comfort.
“Each generation must, out of relative obscurity, discover its mission, fulfil it, or betray it,” Jonas quoted Fanon as saying. “Damasane understood the mission. And he did not betray it.”
He also recalled a conversation Damasane had once had with a young man who questioned the presence of foreigners in South Africa. Damasane’s reply, Jonas said, had remained with him.
“Damasane said to this guy: just wait fifteen or twenty years. You will also be wanting to leave your country.”
Jonas said those words now sounded prophetic in light of worsening inequality, exclusion and corruption.
“As I stand up today, I look at South Africa. The level of oppression and inequality, the level of exclusion of our people, the level of corruption, the betrayal of the dream of liberation – those words of Damasane ring very loud in my ears,” he said.
Jonas ended on a note of continental solidarity, saying South Africa’s future was inseparable from Africa’s future.
“We are a nation embedded in Africa,” he said. “And without Africa, our growth as a country – economically – our fortune is intertwined with the growth of Africa. South Africa is nothing without Africa. And Africa is nothing without South Africa.”
He also urged mourners to rethink the way success and dignity are measured, saying merit should not be reduced to wealth alone.
“Sometimes this thing called meritocracy is measured in wealth. No. It is values, it is principle, it is integrity. And your father had all of that,” he said.
Jonas further stressed that a person’s legal or social worth should not be judged by their origin.
“We cannot judge people by their origin,” he said. “We cannot determine the legal status of people by their origin.”
Jonas’ intervention comes at a time when xenophobia remains one of South Africa’s most combustible social and political issues, with periodic attacks on foreign nationals continuing to draw outrage across the continent.
The consequences have often extended beyond South Africa’s borders, triggering diplomatic tensions, travel advisories and boycott calls in parts of Africa. For pan-African companies like MTN, whose operations depend on cross-border trust and political stability, the debate is not only moral but commercial.
That context made Jonas’ decision to speak so directly at a funeral especially notable. Rather than a corporate forum or policy panel, he used a farewell to make a wider argument about belonging, leadership and the future of the continent.
In doing so, he turned Damasane’s burial into something larger than a memorial: a warning against the politics of fear, and a plea for a South Africa that remembers its place in Africa.
Telecom
Telcos Lose 30m Subscribers in 3-Year Slump due to NIN-SIM Link Policy

Telecom operators in Nigeria recorded a sharp decline of 33,153,633 subscribers in three years (May 2023 – April 2026), according to the Nigerian Communications Commission’s (NCC) latest industry statistics.

According to the telecom industry statistics, the figure showed that 4,270,285 of mobile subscribers were lost between May 2023 (220,931,688) and April 2024 (216,661,403), while the sector had repeat of the negative record with a huge drop of 46,338,623 subscribers between May 2024 (219,005,878) and April 2025 (172,667,255).
There was a significant positive increase between May 2025 (172,474,626) and April 2026 with 187,778,055 subscribers as of the latest figure issued by NCC.
The period recorded a huge increase of 15,303,429 subscribers.
In May 2023, when the current government came into power, the telecom sector had 220,931,688 subscribers. But as at April 2026 which marks exactly three years, the sector has a record of 187,778,055 subscribers.
This indicates a decline of 33,153,633 subscribers during the period under review.
Overall, according to the NCC’s figures, MTN, the largest operator with a subscriber figure of 88,675,062 as at April 2023, was a major factor in the statistics.
It gained 7,716,357 subscribers during the period under review which currently pulls 96,391,419 subscribers as at April 2026, while Airtel which had 60,331,845 subscribers in April 2023 recorded an increase of 4,338,173 subscribers, bringing its current subscriber base to 64,670,018.
On the flip side, Glo, which was trailing MTN with an impressive figure of 60,927,963 subscribers, suffered a massive loss of 37,749,366 subscribers. The development reduced its figure to 23,178,597 it currently has.
In the same vein, T2 (formerly 9mobile) which was accommodating 13,403,345 subscribers in May 2023, lost 9,865,324 subscribers.
The network, according to NCC’s April 2026 statistics, has only 3,538,021 subscribers on its base.
Despite the sharp decline recorded in the period, market stability has slowly returned.
Latest NCC figures indicate that by early 2026, telcos had started recovering lost ground, even rolling out large-scale compensation programmes to over 75 million customers due to poor network quality.
The reduction in the telcos’ active subscriptions between 2023 and 2026 can be attributed to the disconnection of SIMs that were not linked with the National Identification Number (NIN) as mandated by the government.
The development resulted in the decline of subscriptions for mobile services in the country.
During the period which witnessed the impact of foreign exchange (FX) unification and the removal of the premium motor spirit subsidy, the biting economic pressures reduced consumer purchasing power which led many Nigerians to give up multiple or redundant SIM cards to cut back on monthly data costs.
The service providers lost most subscribers as a result of the Federal Government, through the industry regulator, relevant agencies and institutions like banks which came up with poicies that demanded Subscriber Identification Module (SIM) updates and verifications. A change in the minimum age requirement for SIM registration (from 16 to 18 years) also contributed to a decline in gross new connections.
During the period, the industry regulator, NCC, issued new guidelines to telecommunication companies, directing them to deactivate phone lines unused for six consecutive months for Revenue Generating Event (RGE).
The new rule took a toll on the telecom operators, as many subscribers who are using more than one phone line could not be able to retain the others due to the harsh economic environment of the country.
According to the regulator, “A subscriber line may be deactivated if it has not been used, within six months, for a Revenue Generating Event (RGE), and if the situation persists for another six months, the subscribers may lose their numbers, except for a network-related fault inhibiting an RGE.”
It is common knowledge that some Nigerians are migrating to other countries of the world, and most of them may likely not continue to use their Nigerian networks’ SIM either voluntarily or perhaps any policy that needs revalidation comes up.
There was also a standing order for those who had issue(s) with their SIM cards, as the National Identity Number (NIN) in the registration of Subscriber Identity Module (SIM) cards by all mobile telecommunication network operators was mandatory.
The development undoubtedly interrupted the growth trend of telecom subscribers as indicated in the three years’ statistics by NCC.
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