Telecom
Senate Mulls Probe of Etisalat Nigeria Loans

The senate plans to vote on a motion to investigate the use of $1.2 billion in loans taken out by telecoms firm Etisalat Nigeria, now called 9mobile.
The motion if passed would mandate a Senate committee on banking and national security to handle the investigation, which it says would seek to forestall the impact of the debt crisis on foreign investment and hold defaulting parties liable.
According to the lawmakers, the investigation would seek to forestall the impact of the debt crisis on foreign investment and hold defaulting parties liable.
The resolutions of the senate followed a motion entitled ‘The need for senate’s intervention in recent Etisalat Nigeria $1.2 billion debt crisis’ sponsored by Adeola Olamilekan, senator representing Lagos west.
While moving the motion on the floor of the senate on Wednesday, Olamilekan noted that loan was acquired in 2013 as medium-term with a seven-year facility to fund expansion of the network from a consortium of 13 banks.
The senator said in 2016, the company started defaulting on its $1.2 billion loan obligations to which bailouts were given to it from its parent company in Abu Dhabi.
“Only about 42 percent of the loan has been repaid, remaining an outstanding debt of $696 million representing 58 percent of its capital, which Etisalat has failed to service since 2016,” he said.
“Since this year, the banks have been moving to take over the telecommunications company in order to recover their funds.
“The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have intervened and raised issues of regulatory compliances in trying to prevent a takeover by the banks, but the intervention has failed to produce an agreement on the debt restructuring
“All UAE shareholders of Etisalat Nigeria, including state-owned investment fund Mubadala had exited the company coupled with the resignation of top key management officers of the company the chief executive officer Mr. Matthew Willsher, chief financial officer Mr. Wole Obasunloye, director and the third Shareholder/Partner Mr. Hakeem Belo Osagie.”
The legislator said if the situation is not handled, it would have negative on foreign investments in the country.
“Although it should ordinarily not be the duty of the senate of the federal republic of Nigeria to wade into individual debt crisis of private sector businesses but the senate is convinced that if this situation is not properly handled, it will have negative implications for the Nigerian business environment and on foreign investments in Nigeria,” Olamilekan said.
While about 4000 jobs are at stake as a result of “these suspicious dealings,” the senator said the loan of this magnitude has the capacity of setting off another banking crisis in the country.
“The decision of the core investors to pull out of Nigeria raises issues of suspicion,” he said.
“Allegations that the loans have been diverted to other uses not related to the business for which the huge loan was obtained, as there was no evidence of what the company did with the loans.”
The upper legislative chamber adopted the motion when it was put to a voice vote by Senate President Bukola Saraki.
There are reports that some 16 firms have submitted their expressions of interest to take over the company including Africa’s largest telco MTN, Ntel and privately held BUA group.a Senate order paper seen by Reuters showed on Tuesday.
Telecom
SHELT Named in Prestigious 2025 MSSP 250 List for Cybersecurity Excellence

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.
Telecom
Meta Names Ex-Trump Adviser Dina Powell McCormick as President

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
Telecom
X Suspends Twitter Account for Rules Violation

X, the social media platform formerly known as Twitter, has suspended the @Twitter account, replacing its profile with a standard notice citing violation of platform rules.

Musk
The action, which occurred on Sunday, January 11, left users encountering the handle greeted by a bold “Account Suspended” message on a black screen, with no details provided on the specific rules broken or the duration of the suspension.
The development has sparked widespread confusion and nostalgia among users, given that Elon Musk rebranded Twitter to X in July 2023, approximately six months after acquiring the platform for $44 billion in late 2022.
The @Twitter handle had remained dormant since before Musk’s takeover, serving as a legacy remnant of the platform’s original branding, and its suspension appears to mark the final erasure of the Twitter name amid X’s ongoing efforts to combat spam, impersonation, and rule violations.
X’s official statement on the suspended page simply reads: “X suspends accounts that violate our rules,” without offering an appeal process or further explanation, unlike standard user suspensions.
Public reactions on social media ranged from humorous laments of “RIP Twitter” to speculation that the move resulted from automated moderation or a deliberate cleanup of legacy trademarks.
xAI’s Grok AI described it as a purposeful retirement of outdated elements rather than a genuine infraction, while neither Elon Musk nor X spokespeople issued any comment as of Monday morning.
This incident underscores the evolving identity of the platform under Musk’s ownership, which also saw a domain shift to x.com in 2024, further distancing it from its Twitter roots.
Industry observers note that while the suspension aligns with X’s stricter enforcement policies, the lack of transparency has fueled debates on consistency in applying rules to high-profile legacy accounts.
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