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9Mobile: NCC Okays Teleology Bid, Gives it 90 Days to Pay $450m

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Nigerian Communications Commission (NCC) has said that Teleology Holdings Limited is on course to take over 9mobile Nigeria provided the company is able to pay $450 million within the next 90 days.

 

NCC’s statement may have put paid to speculation that a highly placed official is against Teleology taking over 9mobile.

 

The commission also for the first time publicly confirmed the $50m deposit made by Teleology Holdings Limited.

Prof Umar Garba Danbatta, executive vice chairman, NCC, disclosed this in chat with journalists after the NCC management paid a courtesy visit to the Central Bank of Nigeria in Abuja.

 

Prof Danbatta, said Teleology would get 9mobile when it paid the balance of $450m before the expiration of 90 days deadline.

 

“Well, the information I have for you is that the preferred bidder has emerged and it has been told to pay, starting with a deposit of  $50 million which the preferred bidder has paid, we have information to this effect.

 

“What remains is for the preferred bidder to pay the balance of $450 million in the next 90 days, or less than 90 days anyway. And upon payment of that amount, 9mobile would be transferred to the preferred bidder, which is Teleology Holdings Limited.

 

“In the event Teleology fails to pay after the expiration of the deadline of 90 days then the reserved bidder will be considered and the reserved bidder is Smile. That is the position at the moment, ’’ he said.

 

There were reports last week that a board member of NCC was allegedly working very hard to shift the goalposts and force the sale of 9mobile to Smile Telecoms Holdings.

Adrain Wood, Teleology

The reports claimed that the board member had written a letter to the CBN listing new criteria of “technical expertise” and “at least three years operational history” as new conditions for buying 9mobile.

 

His letter, the reports claimed, was designed to favour Smile, the reserved bidder in the sale process.

 

9mobile, formerly Etisalat, almost shut down last year when it failed to pay back a loan taken from a consortium of banks a few years ago.

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Telecom Management Company Appeals for Cooperation and Safety Measures Over Abaranje Base Station Fire Incident

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Carville Integrated Ventures Limited, a telecoms facility management services provider, has expressed deep sadness by the recent fire incident at Abaranje Base Station, one of the several base stations it manages on behalf of Airtel Nigeria.

The incident, which occurred during maintenance operations on a leaking part of a diesel tank, resulted in injuries to some individuals from the local community who forcefully gained unauthorized access into the facility hosting the base station during the maintenance work.

Despite this breach of access control by the impacted individuals, Carville, who has responsibility for the site management expresses its sympathy to the victims and has offered to provide healthcare support to them.

The management of Carville Integrated Ventures, extends her condolences to the affected individuals and their families, stating, “Our hearts go out to those injured in the unfortunate incident. We are committed to providing support and assistance during their recovery process.”

Carville also emphasizes the company’s dedication to corporate social responsibility, stating, “We stand by our commitment to the communities we serve, and we will continue to prioritize their welfare in all our operations.”

Furthermore, Carville appeals to community leaders and members to cooperate with the company in implementing safety measures to prevent similar incidents in the future. “Safety is our top priority, the management affirmed. “We urge everyone to adhere to safety protocols and guidelines to ensure the well-being of all.”

Carville is working closely with local authorities and regulatory bodies to conduct a thorough investigation into the incident and implement necessary measures to prevent recurrence.


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Google, Kaduna State Others Partner to Launch First Hausa-Language AI learning Series to Expand Tech Education and Empower Women

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A new initiative aimed at empowering women in Northern Nigeria through AI education was launched today. Google, in collaboration with the Kaduna State Government, and Data Science Nigeria, introduced the AI for Beginners Learning Video Series. This series presents Artificial Intelligence concepts in Hausa, making complex technology more accessible and culturally relevant for the region.

In Northern Nigeria, various challenges can impact access to tech education and career opportunities. These include diverse socio-cultural dynamics, infrastructural limitations, and language barriers. The AI for Beginners Learning Video Series, through its engaging animations and culturally relevant imagery, is designed to make complex digital concepts more accessible and relatable, fostering inclusivity and participation in the growing tech sector.

The launch event, held at Umaru Musa Yar’Adua Hall in Kaduna, was a celebration of technology, education, and the immense potential of Northern Nigeria’s women. His Excellency, Governor Uba Sani of Kaduna State, graced the occasion as the Guest of Honor, delivering a keynote address that underscored the government’s commitment to digital transformation and economic growth.

“AI is not just the future; it’s the present,” Governor Uba Sani declared. “By equipping our people, especially our women, with AI skills, we’re not only paving the way for a more prosperous and innovative Northern Nigeria, but also laying the foundation for Kaduna to become a thriving tech hub.”

“We believe that technology can be a powerful force for change and are committed to making learning resources available in local languages to empower more people,” said the Director of Google West Africa during the launch event held at Umaru Musa Yar’Adua Hall, Murtala Muhammad Square, Kaduna. He added, “This series marks a new milestone in our ongoing efforts to enhance AI knowledge across Northern Nigeria, fostering a broader understanding and application of AI technologies that drive innovation and create new job opportunities.”

“By making AI education accessible in Hausa, we’re opportunities for innovation, entrepreneurship, and social impact,” added Dr. Bayo Adekanbi, CEO/Founder of Data Science Nigeria. “These women are the future leaders and innovators of Northern Nigeria, and AI is the tool that can amplify their potential.”

The event also featured speeches from representatives of NITDA and the Ministry of Communications, Innovation and Digital Economy, who underscored the national significance of the initiative and the government’s support for fostering a vibrant tech ecosystem.

The AI for Beginners Learning Video Series is now available on YouTube via the Data Science Nigeria platform, on the NITDA education portal, and for download. To further aid in accessibility, the series has also been deployed on USB drives for distribution and direct peer-to-peer copy at all primary and secondary schools, including public video content copying centres across Kaduna State.


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Binance Crypto Boss Changpeng Zhao Sentenced to 4 Months in Prison

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Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating US money-laundering laws at the world’s largest cryptocurrency exchange.

The sentence was imposed by US District Judge Richard Jones in Seattle, who rejected prosecutors’ request that the 47-year-old Zhao serve a three-year term, twice the maximum recommended under federal guidelines.

Once considered the most powerful person in the crypto industry, Zhao, known as “CZ,” is be the second major crypto boss to be sentenced to prison.

In March, Sam Bankman-Fried received 25 years behind bars for stealing $8 billion from customers of his now-bankrupt FTX exchange.

Bankman-Fried is appealing his conviction and sentence.

Before handing down the sentence, Jones faulted Zhao for putting growth and profits before complying with US laws.

“You had the wherewithal, the finance capabilities, and the people power to make sure that every single regulation had to be complied with, and so you failed at that opportunity,” he said.

Wearing a navy blue suit and tie, Zhao did not react to sentencing.

Prosecutors said Binance employed a “Wild West” model that welcomed criminals, and did not report more than 100,000 suspicious transactions with designated terrorist groups including Hamas, al-Qaeda and Islamic State.

They also said Zhao’s exchange supported the sale of child sexual abuse materials and received a large portion of ransomware proceeds. Binance agreed to a $4.32 billion penalty.

“I’m sorry,” Zhao told the judge before the sentencing.

“I believe the first step of taking responsibility is to fully recognize the mistakes. Here I failed to implement an adequate anti-money laundering program … I realize now the seriousness of that mistake.”

Prosecutors had told the judge a tough sentence would send a clear signal to other would-be criminals.
Binance logo 3
Prosecutors said Binance employed a “Wild West” model that welcomed criminals, and did not report more than 100,000 suspicious transactions with designated terrorist groups including Hamas, al-Qaeda and Islamic State. REUTERS

“We are not suggesting that Mr. Zhao is Sam Bankman-Fried or that he is a monster,” prosecutor Kevin Mosley said. But Zhao’s conduct, he said, “wasn’t a mistake. This wasn’t a regulatory ‘oops.’”

Zhao stepped down as Binance’s chief in November, when he and the exchange he founded in 2017 admitted to evading money-laundering requirements under the Bank Secrecy Act.

Lawyers for Zhao requested probation, citing his acceptance of responsibility and paying a $50 million criminal fine.

They also said others who admitted to similar wrongdoing, including BitMEX founder Arthur Hayes, stayed out of prison.

Defense lawyer Mark Bartlett said Zhao “wanted to make a difference in the world,” but made mistakes.

Jones said a three-year sentence was inappropriate because prosecutors did not show that Zhao knew in advance about illegal activity.

“It’s always the case the government asks for more than they think they’ll get,” said Robert Frenchman, a lawyer specializing in white-collar crime. “Going that much above guidelines for a pleader is unusually aggressive.”

Several other crypto moguls are also in the crosshairs of US authorities after the collapse of crypto prices in 2022 exposed fraud and misconduct across the industry.

Zhao had been free on a $175 million bond, and agreed not to appeal any sentence within federal guidelines. Zhao also paid $50 million to the Commodity Futures Trading Commission.


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