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Oceanic Bank Buys MTS FirstWireless, Prestel

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MTS FirstWireless, trapped in the debris of protracted boardroom squabbles has got a breather, thanks to fresh take over bid by Oceanic Bank Plc, one of Nigeria’s leading financial institutions.

The deal is coming after the financial powerhouse acquired 60 per cent of Prest Cable and Satellite TV Systems Limited (Prestel), a Benin based national telecommunications operator owned by Mr. Tosan Prest.

Though, the MTS FirstWireless deal is a closely guided secret because of its ugly financial shape, Nigeria CommunicationsWeek, gathered that Oceanic Bank Plc has offered to buy lock, stock and barrel of the beleaguered telecom operator.

MTS FirstWireless, which was the first to be granted license to offer wireless service in the country is currently run by Jane Edu, company secretary. The poor fortunes of the company forced many experienced hands to leave the company.

Oceanic Bank, driven by the iconic Amazon, Cecilia Ibru has its fingers in many profitable pies and is hoping to turn around the fortunes of the company.

With the take over, Oceanic Bank will gain a strong footprint into the telecom market and join the exclusive club of banks with legs in telecommunications.

It would be recalled that Zenith Bank, promoted by serial deal maker, Jim Ovia made history after it acquired Cellcom, Independent Telephone Network (ITN) and Bourdex Telecom to launch the now successful Visafone Communications Limited, trading with

Visafone.

Nigeria CommunicationsWeek gathered that elsewhere, other big players like UBA Plc and Intercontinental Bank Plc have all stepped up efforts to gain footprints in the telecoms market said to hold several untapped billions of dollars.

Oceanic Bank is however hoping to play catch up with Zenith Bank and possibly run neck and neck in the next few months.

The bank is relying on MTS FirstWireless knowledge of the market as the troubled teleco began as far back as 1992, the process of initiating Nigeria into the wireless world when the government issued it with a license to commence the provision of national cellular service in the country.

It was then a joint venture between the government-owned Nitel and Digital Communications Ltd. of Atlanta Georgia, USA. But a disagreement between the two joint venture partners led to the abortion of this dream.

The issue was eventually resolved with a favourable settlement brokered by the Nigerian Communications Commission which gave it a basket of licenses to do nationwide fixed telephone services, long distance communications, and international data access.

Oceanic Bank was incorporated on March 26, 1990 as a private limited liability company with 100% equity ownership by Nigerian citizens, and licensed on April 10, 1990 to carry on commercial banking.

The bank commenced business on June 12, 1990 at the Waterfront Plaza, Plot 270, Ozumba Mbadiwe Avenue, Victoria Island, Lagos and was listed on the Nigerian Stock Exchange on June 25, 2004


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Google, UpSkill Universe Relaunch Hustle Academy to Bring Free AI Skills to Africans

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Google and UpSkill Universe, Sub-Saharan Africa’s leading AI and business skills training partner, have announced a major redesign of the Google Hustle Academy programme.

For the first time, the free training initiative is open to everyone, not just business owners. The new curriculum is focused on equipping individuals and entrepreneurs with practical AI skills.

Small businesses are the engine of Africa’s economy, creating over 80% of jobs on the continent. To help them grow, the Hustle Academy was launched in 2022, providing bootcamp-style training on business strategy, digital skills, AI, and leadership. The program has since trained over 18,000 SMEs, with many reporting increased revenue and job creation.

Now, as AI reshapes the job market, the program is evolving. The 2026 edition is built for anyone in Sub-Saharan Africa, including employees, students, and jobseekers, who wants to use AI to advance their career.

To meet the needs of a diverse audience, the new format includes short, 60-minute webinars and more immersive, high-impact bootcamps. These sessions are laser-focused on putting AI to work immediately in areas like digital commerce, marketing, and growth strategy.

Speaking about the academy, Gori Yahaya, Founder & CEO UpSkill Universe said “The 2026 Hustle Academy is designed to close the AI Skills gap with hands-on training that is short, focused, and immediately useful. AI is reshaping how businesses win and how careers are built, right across this continent.

“We’re excited to renew our partnership, now in its fifth year with Google, combining their global AI leadership with our deep regional AI expertise. The next wave of AI leaders will come from this continent. We are making sure they are ready.”

The Hustle Academy initiative has strengthened digital competitiveness across emerging African economies by enabling SMEs to move beyond AI awareness to practical implementation, positioning them for sustained growth in an increasingly AI-driven business environment.

“We believe that the future of Africa’s digital economy lies in the hands of individuals and entrepreneurs alike. Our new strategy focuses on scaling reach by training individuals in the latest AI-centered tools and techniques,” said a Google representative.

 


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Lagos Govt Drags Top Firms to Court Over Billion-Naira Tax Debts

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Lagos State has dragged 45 individuals and firms, including Bi-Courtney Aviation, DAAR Communications and Leaders & Company, to revenue court for tax debts running into billions of naira.

Lagos Govt Drags Top Firms to Court Over Billion-Naira Tax Debts

Lagos Govt

Bi-Courtney, operators of Murtala Muhammed Airport Terminal Two, faces N38.7 million claim; DAAR, behind Africa Independent Television, owes N22.4 million; ThisDay publishers Leaders & Company allegedly skip N67.1 million.

GMT Energy Resources tops corporates at N145.8 million, followed by Sheriff Deputies at N132.1 million; others like Heyden Petroleum, AA Rescue, BRT operator Primero also listed.

Individuals owe N13.5 million to N35 million each.

Attorney-General Lawal Pedro said suits followed ignored notices, aiming to enforce laws and fund infrastructure.

More defendants: IENG Nigeria, James Fisher, V Care Diagnostics, Venture Garden, Saro Africa, Barry Callebaut, Native Media, First Consulting, Eyowo Payments.

Compliant taxpayers post-notice escaped prosecution; defaulters risk penalties, interest, jail.

Pedro urged prompt filings and payments.


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Beware of Fake Cerelac Products – NAFDAC

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National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians on counterfeit and unregistered Cerelac Mixed Fruits and Wheat products being sold in Lagos.

Beware of Fake Cerelac Products – NAFDAC

NAFDAC said Nestle Nigeria, the genuine Marketing Authorisation Holder of the product, received a complaint of suspected counterfeit purportedly manufactured by Nestlé Spain, bearing Batch Code 308002910.

It said that Nestle Nigeria reported that the complainant described that the counterfeit product emitted an odour suggestive of possible contact with fuel.

NAFDAC said that preliminary review of the product by Nestle Nigeria indicated that it had expired, in spite of the container displaying an expiry date of 10-2026, which suggested that the date coding had been tampered with (revalidated).

Nestle Cerelac Mixed Fruits and Wheat is a nutritious infant cereal, designed to be a delicious first food for infants.

NAFDAC said that its post-marketing surveillance’s directorate officers in Lagos conducted a surveillance visit to Maxland Shopping Centre, 193 Ago Palace, Okota, where the product was purchased by the complainant.

It added that the suspected counterfeit and unregistered Cerelac were found on sale at the premises and subsequently mopped up, while Nestle assisted in identifying the distinguishing features between registered and unregistered product.

According to the regulatory agency, Nestle revealed that the unregistered product used a hyphen (-) to separate the day from the year, while the registered product used a slash (/) to separate the day from the year.

“It is important to note that Nestle Nigeria is not aware of the channels through which the products are supplied into the country.

“Healthcare professionals and consumers are advised to report any suspicion of the sale of substandard and falsified regulated products to the nearest NAFDAC office, call 0800-162-3322, or send an email to [email protected],” NAFDAC said.

The agency warned that counterfeit formula often lacked essential nutrients, vitamins and minerals, leading to stunted growth or developmental issues.

It said that such formula might also contain contaminants that might lead to severe health consequences to infants or even death.

NAFDAC reiterated its commitment to safeguarding public health adding that it would continue surveillance activities to ensure the quality, safety, and efficacy of all NAFDAC-regulated products circulating in Nigeria.

It said that all zonal directors of the agency and state coordinators had been directed to carry out surveillance and mop up the revalidated product, if found within the zones and states.

The agency urged distributors, retailers, healthcare professionals, and caregivers to exercise caution and vigilance within the supply chain, to avoid the distribution, sale, and use of fake products.


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