Justice Kehinde Ogundare of the Federal High Court, sitting in Ikoyi, Lagos, has ordered the final forfeiture of a parcel of land measuring 2348.072 square metres in Enugu State recovered from the duo of Babatunde Said Adeola and Kingsley Ifeanyi Adonu to the federal government.

Adeola and Adonu, owners of S. Mobile Netzone Limited, Biss Networks Nigeria Limited and Pristine Networks Mobile Networks Nigeria Limited, had presented themselves as telecommunications experts with flourishing businesses and joint ventures with MTN Nigeria and other companies.

The Commission, however, received a petition alleging a case of conspiracy and obtaining the sum of N510,000.000 (Five Hundred and Ten Million Nara) against S. Mobile Netzone Limited, Biss Networks Nigeria Limited and Pristine Networks Mobile Networks Nigeria Limited.

The funds, investigation revealed, were invested by the petitioners in the telecom businesses owned by the respondents.

Investigation further revealed that the respondents, rather than refund the petitioners or pay them interests on their investments, converted the funds into their personal use, acquired pieces of land across the country, including the property measuring 2348.072 square metres described in survey plan No. CSS/EM164/2005 along Enugu-Ezike/Obolo-Afor Road, Ogrute Enugu Ezike in Igboeze Local Government Area, Enugu State.

In view of this, the Commission, in a motion ex parte, had approached the court seeking an interim forfeiture of the property.

In a 16-paragraph affidavit deposed to by Adekunbi Mojisola, an investigator with the EFCC, the Commission prayed the court to grant the forfeiture of the property.

In granting the application, the Judge had, sometime in July, 2023, ordered the interim forfeiture of the property and also directed the publication of the same in a national newspaper.

Following the order, the Commission  published the forfeiture order in the Punch newspaper of November 8, 2023 for interested parties to show cause why the property should not be forfeited to the Federal Government.

In the absence of any contestation, the court today ordered the final forfeiture of the property, sequel to the application filed by the EFCC on December 13, 2023.

Federal Competition and Consumer Protection Commission (FCCPC) has said steps are being taken to tackle loan Apps services providers that engage in harassing tactics against customers.

FCCPC also reiterated its commitment to ensure legal and ethical operations in digital lending

Adamu Abdullahi, acting chairman of FCCPC, emphasized that such practices would soon become a thing of the past, as the Commission has initiated measures to tackle the issue head-on.

Abdullahi stated, “It will soon become obsolete in Nigeria for online platforms, often referred to as loan sharks, to provide quick money to individuals for urgent needs.”

He expressed concern over the detrimental effects of these loan companies resorting to sending distressing messages, including personal pictures, to all contacts of borrowers who fail to repay on time.

This form of harassment, according to Abdullahi, has led to various challenges in Nigeria, including job loss due to embarrassment and disgrace inflicted upon borrowers.

Stating  the Commission’s stance on the matter, Abdullahi stressed, “We do not condone such practices, as they constitute harassment of customers, even though it may not be directly within our purview.”

He revealed that FCCPC has collaborated with major regulatory bodies such as Economic and Financial Crimes Commission (EFCC), National Information Technology Development Agency (NITDA), the Central Bank of Nigeria (CBN) and the Human Rights Commission to establish a committee aimed at addressing the issue comprehensively.

Abdullahi further disclosed that, upon discovering that these loan companies operate solely online without physical offices or identifiable managing directors, FCCPC took measures to request the removal of their applications from Google and Apple stores.

Additionally, cooperation with the CBN led to the blocking of their accounts.

A recent report by the Groupe Special Mobile Association (GSMA) revealed that a significant 71% of Nigerians do not have regular access to mobile internet.

“While 29 per cent of Nigerians are regularly using mobile internet, there remains untapped potential; 71 per cent are not accessing these services regularly. An improved policy environment has the potential to help the industry boost coverage and adoption, resulting in 15 million additional internet users by 2028.

However, the sector faces challenges to infrastructure deployment,” the report stated.

The details of the study were disclosed during the report’s launch in Abuja, highlighting a critical gap in digital connectivity amidst ongoing discussions about possible tariff increases by Nigerian telecom operators.

The telecom industry is currently advocating for an increase in tariffs to counter various operational challenges. However, the government is pushing for alternative solutions rather than price hikes.

The GSMA report underscored the challenges hindering the expansion of telecom coverage, which include cumbersome and costly rights-of-way acquisition processes and a complex tax environment. These factors collectively make it difficult for the industry to sustain investment levels.

Despite these hurdles, the report optimistically noted that Nigeria could add 15 million internet users by 2028 with appropriate policy adjustments. It emphasized that achieving universal access to digital connectivity hinges on a wider digital transformation of the Nigerian economy.

The report details the sector’s challenges, stating that “An improved policy environment has the potential to help the industry boost coverage and adoption, resulting in 15 million additional internet users by 2028. However, the sector faces challenges to infrastructure deployment.”

The report also identified key obstacles, such as the rigorous process of securing rights of way and a layered tax regime, which together increase operational costs and stymie sustainable investments. Added financial pressures from rising fuel prices and increased governmental fees further strain telecom operators’ ability to maintain healthy investment flows.

The GSMA report recommended several policy measures to foster a more enabling economic and regulatory environment for the mobile industry.

These include establishing a legal framework to protect critical national infrastructure, simplifying rights-of-way issuance, reducing the tax burden, and cultivating a regulatory climate conducive to robust investment.

“Future policies should be geared towards reducing the cost and complexity of infrastructure rollout to encourage investment and boost the adoption of mobile broadband,” the report advised.

It further  highlighted  the far-reaching implications of such policy enhancements, noting, “The impact of such actions would go far beyond mobile, driving productivity gains across the economy and creating millions of new jobs in Nigeria.”