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Banks Remove $1.2Bn 9Mobile Debt from Books

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The 12 banks involved in the $1.2 billion 9Mobile loan are setting aside a large part of the debt from their books ahead of the December 31 end-date for the fiscal year, according to the Nation.

The mobile company took the loan four years ago from a consortium of banks. It failed to repay the loan due to a currency crisis and the economic recession.

In the deal are: Zenith Bank, GTBank, First Bank, United Bank for Africa, Fidelity Bank, Access Bank, Ecobank, First City Monument Bank, Stanbic IBTC and Union Bank.

Zenith Bank yesterday announced that it had made a provision on 30 per cent of its loan to 9Mobile, the country’s fourth largest telecoms group formerly known as Etisalat Nigeria.

Peter Amangbo, bank’s Chief Executive Officer said: “We have taken about 30 per cent … as a provision, which we believe is very prudent as the company is undergoing restructuring … to prepare for a new investor.”

Zenith Bank is the largest lender to 9Mobile, one source familiar with the matter disclosed. The bank has declined to disclose its exposure to the telecoms group. The Tier-1 lender had last week reported a pre-tax profit of N92.18 billion for its half year against N53.91 billion a year ago.

The Central Bank of Nigeria (CBN) and the Nigerian Communication Commission (NCC) in July saved Etisalat Nigeria from collapse, stopping the company from going into receivership. But the telecom giant witnessed a board, management and name change.

Richard Obire, Former Keystone Bank Executive Director said many other banks were likely to provide for certain percentage of the loans, depending on their profitability positions.

He said Zenith Bank, being a highly profitable bank, was thinking that it might not be able to recover the full money. “Zenith may be considering that when it gets down to negotiation with 9Mobile, it may end up giving about 30 per cent of the debt. The debtor may ask for more restructuring and loan forgiveness,” Obire said.

According to him, some banks are conservative and may want to stay within the five per cent regulatory non-performing loan threshold while some may want to exceed the limit. “Banks that are making more money are more likely to provide for their loans than those with less profitability,” he said.

Obire said by exceeding the 10 per cent peg for sub-standard loans to go for 30 per cent provision, Zenith Bank was indirectly saying that although the loan was not doubtful, but it was more than sub-standard. “If the bank does 30 per cent provision on the loan in 2017, it may do 50 per cent in 2018 while considering the variables surrounding the loans,” he said.

Olakunle Ezun, Head Treasuries at Ecobank Nigeria, said it is expected that the banks will provide for the loan, which he described as a bad debt. “For now, 9Mobile loan is like a non-performing loan for the banks. I understand that the banks are trying to restructure the loan. If they succeed, it will become a performing loan; otherwise it will have to be provided for in their books,” he said.

He said more banks may provide for the loan by year-end, but such a decision will be determined by the boards and their interpretation of the future of 9Mobile.

According to CBN Prudential Guidelines, banks are expected to review  their  credit  portfolio  continuously  (at  least once  in a  quarter)  with  a  view  to recognising  any deterioration in  credit quality. Such reviews should systematically and realistically classify banks’ credit exposures based on the perceived risks of default.

To facilitate comparability of banks’ classification of their credit portfolios, the guidelines said assessment  of  risk  of  default  should  be  based  on  criteria,  which  should include,  but  are  not  limited  to,  repayment  performance,  borrower’s repayment  capacity  on  the  basis  of  current  financial  condition  and  net realisable value of collateral.

The CBN prudential guidelines stipulate that a credit facility should be deemed as non-performing when interest or principal is due and unpaid for 90 days or more;   interest  payments  equal  to  90  days  interest  or  more  have been capitalized, rescheduled or rolled over into a new loan.

The guideline said a loan can be substandard, doubtful or lost. A loan is subs-standard when unpaid principal and/or interest remain outstanding for more than 90 days but less than 180 days. Credit facilities which display well defined weaknesses  which  could  affect  the  ability  of  borrowers  to repay,  such  as  inadequate  cash  flow  to  service  debt, undercapitalisation or insufficient working capital, absence of adequate financial information or collateral documentation, among others, are said to be sub-standard.

According to the CBN guidelines,  a loan is classified as doubtful when unpaid principal and/or interest remain outstanding for at least 180 days but less than 360 days and in  addition  to  the weaknesses  associated  with  sub-standard  credit  facilities reflect that full repayment of the debt is not certain or that realisable collateral values will be insufficient to cover bank’s exposure.

A loan is classified as lost when unpaid principal and/or interest remain outstanding for 360 days or more and in  addition  to  the weaknesses  associated  with  doubtful  credit  facilities,  are considered  uncollectible  and  are  of  such  little  value  that continuation  as  a  bankable  asset  is  unrealistic.


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NCC Speaks of Plans to Secure Telecom Infrastructure Nationwide

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Nigerian Communications Commission (NCC) has reiterated its commitment to safeguarding telecommunications infrastructure across the country, in line with President Bola Tinubu’s Executive Order, which criminalises the vandalism, theft or obstruction of critical national infrastructure.

NCC Speaks of Plans to Secure Telecom Infrastructure Nationwide

The Commission noted that the enforcement drive is aimed at curbing the growing incidence of sabotage at telecom sites, which continues to degrade the quality of network services nationwide.

Speaking during a courtesy visit by the Executive of the Nigeria Union of Journalists (NUJ), Federal Capital Territory (FCT) Council to the Commission’s headquarters in Abuja, Mrs Nnenna Ukoha, head of Public Affairs at the NCC, reaffirmed the Commission’s resolve to act.

She stated, “President Tinubu signed the Executive Order on 24th June 2024, declaring telecom infrastructure as Critical National Information Infrastructure (CNII). The NCC is now mandated to implement this order fully, and anyone found tampering with these facilities will face the full weight of the law.”

Mrs Ukoha, who represented  Dr Aminu Maida, executive vice chairman and chief executive officer, added that the NCC has launched a nationwide awareness campaign to sensitise the public about the significance of protecting critical national infrastructure, including telecom, energy and transport facilities.

Expressing concern over rampant damage, she said, “The destruction of fibre cables, theft of generators and fuel, and removal of key components from telecom base stations have become all too common. These acts directly affect the quality of service that millions of Nigerians depend on.”

She identified three major challenges undermining telecom service delivery:

Vandalism and Theft: “We are witnessing frequent attacks on telecom sites. These lead to service outages and cost operators billions in repairs.”

Restricted Site Access: “Operators face obstruction from local communities, touts and even some government officials who demand levies, making it difficult to access sites for maintenance and refuelling.”

Road Construction Damage: “Ongoing road projects often result in accidental damage to underground fibre cables, further compounding the situation.”

Responding to public complaints about fast-depleting data, Mrs Ukoha clarified that “mobile network operators do not steal users’ data. What many people experience is due to automatic app updates, background processes, and hotspots being shared unknowingly.”

She advised users to be proactive: “We encourage consumers to review their phone settings, limit background data, turn off auto-play videos, and regularly change hotspot passwords.”

Commending the media, she added, “Journalists play a vital role in educating the public. We appreciate your efforts and urge continued partnership in disseminating accurate, impactful information.”

She also revealed the Commission’s drive to improve digital inclusion: “The NCC is committed to supporting underserved communities with affordable internet access and has commenced specialised training for journalists, particularly senior editors in Lagos and Abuja.”

Mrs Ukoha emphasised collaboration with government agencies to reduce infrastructure damage: “As construction projects expand nationwide, we must work together to prevent unnecessary damage to telecom assets.”

Also speaking, Mallam Yakubu Musa, head, Corporate Communications, NCC,  reinforced the importance of the media in the telecom ecosystem.

He said, “Our partnership with the press is key to promoting transparency, building consumer trust, and supporting regulatory compliance.”

In her remarks, Comrade Grace Ike, chairman, NUJ FCT, commended the NCC’s regulatory efforts and expressed interest in deeper collaboration.

She stated, “We look forward to partnering with the NCC on media training, expanding internet access for journalists, and enhancing public awareness. We also seek your support for our forthcoming Press Week and capacity-building programmes.”

She continued, “The NUJ recognises the importance of digital tools in journalism. Equipping media professionals with access and knowledge will strengthen democratic engagement and promote good governance.”

The NUJ delegation, comprising key executives and media team members, reiterated its commitment to working closely with the NCC to promote national development.

This enforcement initiative—anchored on President Tinubu’s July 2024 Executive Order—provides a solid legal framework for protecting vital telecom infrastructure and ensuring uninterrupted communication services.


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Africa’s Lawmakers Commit to Strengthening AI, Digital Health and Smart Manufacturing Frameworks

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The Pan-African Parliament (PAP) and the African Population Health Research Center (APHRC), in collaboration with the GSMA, have concluded the first Africa Digital Parliamentary Summit focused on building legislative capacity in Artificial Intelligence (AI), data protection, digital health and smart manufacturing, in a bid to promote evidence-based policy-making for Africa’s digital future.

The three-day Summit, held from 9-11 July in Lusaka, convened over 20 Members of Parliament from the Pan-African Parliament Committees on Transport, Industry, Communications, Energy, Science and Technology, and Health, Labour and Social Affairs and was opened by the Zambian Minister of Technology and Science, Honourable Felix Mutati. Strategic partners in attendance included AUDA-NEPAD, Africa CDC, ECOSOCC, and the African Peer Review Mechanism (APRM).

This concluded with the publication of the Lusaka Declaration outlining shared priorities and next steps for ensuring Africa’s digital transformation is inclusive, responsible and grounded in evidence-based policy.

The Lusaka Declaration recognised the vital role of Members of Parliament in shaping laws and policies that drive the continent’s development. The Digital Parliamentary Summit offered a timely platform to enhance the knowledge and capacity of Parliamentarians on critical aspects of digital transformation.

A key highlight of the Summit was the consideration and discussion with Parliamentarians on the draft Africa Digital Health and Smart Manufacturing reports developed by APHRC and the GSMA.

Both reports will be submitted to the Plenary of the PAP when Parliamentarians of the 55 member states of the African Union meet in Midrand later this month on the occasion of the 5th Ordinary Session of the 6th Legislature of the Pan-African Parliament.

Honourable Behdja Mokrani, Chairperson of the Pan-African Parliament Committee on Transport, Industry, Communications, Energy, Science and Technology said “Against the backdrop of global economic uncertainties and the accelerating pace of technological disruption, this Summit has highlighted the critical need to equip African legislators with the foresight and capabilities required to navigate the Fourth Industrial Revolution.

The capacity-building component of the Summit, along with the presentation of the Africa Digital Health and Smart Manufacturing Reports by APHRC and GSMA, reinforced the importance of African policymakers acquiring the relevant skills to address policy issues related to digital transformation – particularly in the areas of Digital Health and Smart Manufacturing – in alignment with the African Union’s Agenda 2063.

Anthony Mveyange, Director of Programs, Synergy, African Population Health Research Center adds “At APHRC, we firmly believe that digital health is a transformative force, holding immense potential for Africa to ‘leapfrog’ traditional development pathways.

This Summit powerfully demonstrates how, by leveraging AI alongside advancements in digital health and smart manufacturing, we can accelerate socio-economic progress and foster deeper continental integration, directly aligning with the ambitious goals of the African Union’s Agenda.”

Key themes explored during the Summit included:

  • The potential of AI-driven digital health to accelerate universal health coverage through better data integration and cross-border information exchange
  • The role of smart manufacturing in enhancing industrial resilience and job creation through automation and IoT
  • The need for harmonised, Africa-led data governance frameworks to ensure responsible AI development and protect privacy and human rights

“AI, digital health, and smart manufacturing have the potential to transform Africa’s economies and improve lives – but unlocking that potential requires the right policy environment.

“This Summit is an important step in equipping lawmakers with the tools to shape secure, inclusive and future-ready digital economies” said Kenechi Okeleke, Senior Director, Regional, Social and Policy Research, GSMA.

Participants reaffirmed their commitment to advancing digital transformation through coordinated reforms, including:

  • Strengthening STEM education and digital literacy among policymakers
  • Embedding ICT training in public service development
  • Establishing cross-sector collaboration between the health, trade and ICT sectors
  • Creating enabling conditions for investment in advanced connectivity infrastructure

Draft findings presented during the Summit estimate that Africa’s digital health market could reach $6.5 billion by 2030 under an optimistic scenario, highlighting the urgent need for policy alignment to maximise impact and drive inclusive growth.

The Summit also set out a roadmap for ongoing engagement between the Pan-African Parliament, APHRC and the GSMA, including the establishment of ‘Evidence-to-Policy’ resource units, sustained capacity-building efforts, and regional forums to harmonise legislation on AI, digital health, and data governance across Africa.


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MTN Foundation Hosts Stakeholders to Tackle Rising Drug Abuse Among Youth

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L-R: Tobe Okigbo, Chef Corporate Services Officer, MTN Nigeria; Archieabia Ibinabo, Assistant Commander General of Narcotics, representative of Brig. Gen Mohammed Buba Marwa, Chairman/CEO, National Drug Law Enforcement Agency (NDLEA); Barrister Abimbola Salu-Hundeyin, Secretary to the Lagos State Government, (representative of His Excellency, Governor of Lagos State, Mr. Babajide Sanwo-Olu); RT. Honourable Princess Lasbat Mojisola Meranda, Deputy Speaker, Lagos State Assembly; Dr. Mosun Olusoga, Chairman, MTN Foundation; Odunayo Sanya, Executive Director, MTN Foundation, and Dr. Tolu Ajomale, Head of Special Projects and Mental Health, Lagos State Ministry of Health (representative of Prof. Akin Abayomi, Commissioner for Health, Lagos State) during the MTN Anti-Substance Abuse Programme (ASAP) Lagos Conference held in commemoration of World Drug Day at the MTN Rooftop, Ikoyi, Lagos on Wednesday, July 9, 2025.
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MTN Foundation hosted its annual Anti-Substance Abuse Programme (ASAP) Conference on July 9, 2025, at the MTN Rooftop in Ikoyi, Lagos, bringing together stakeholders from government, healthcare, education, security, civil society, and the private sector to address the growing challenge of drug abuse among Nigerian youth.

L-R: Tobe Okigbo, Chef Corporate Services Officer, MTN Nigeria; Archieabia Ibinabo, Assistant Commander General of Narcotics, representative of Brig. Gen Mohammed Buba Marwa, Chairman/CEO, National Drug Law Enforcement Agency (NDLEA); Barrister Abimbola Salu-Hundeyin, Secretary to the Lagos State Government, (representative of His Excellency, Governor of Lagos State, Mr. Babajide Sanwo-Olu); RT. Honourable Princess Lasbat Mojisola Meranda, Deputy Speaker, Lagos State Assembly; Dr. Mosun Olusoga, Chairman, MTN Foundation; Odunayo Sanya, Executive Director, MTN Foundation, and Dr. Tolu Ajomale, Head of Special Projects and Mental Health, Lagos State Ministry of Health (representative of Prof. Akin Abayomi, Commissioner for Health, Lagos State) during the MTN Anti-Substance Abuse Programme (ASAP) Lagos Conference held in commemoration of World Drug Day at the MTN Rooftop, Ikoyi, Lagos on Wednesday, July 9, 2025.

Prominent attendees included Dr. Mosun Olusoga, Chairman of MTN Foundation; Barrister Bimbola Salu-Hundeyin, Secretary to the Lagos State Government; and Dr. Tolu Ajomale of the Lagos Ministry of Health, among others. Also present were representatives of NDLEA, UNODC, academia, psychologists, recovery advocates, and youth leaders.

Speaking on behalf of Governor Babajide Sanwo-Olu, Salu-Hundeyin reaffirmed Lagos State’s commitment to safeguarding its youth and fostering a future free from substance abuse. Dr. Olusoga emphasized that drug addiction extends beyond health, touching families, communities, and national well-being, calling for proactive, united action.

MTN Nigeria’s Chief Corporate Services Officer, Tobe Okigbo, stressed the company’s long-standing dedication to youth development through initiatives like ASAP. NDLEA’s Assistant Commander General of Narcotics, Archieabia Ibinabo, representing Brigadier General Buba Marwa, commended MTN Foundation as a vital ally in drug prevention efforts.

The conference featured personal stories of recovery in a session titled “Journeys Through the Fire,” followed by a panel discussion on multi-sectoral solutions to substance abuse. It concluded with a dramatic performance, “Just One Breath,” by LASU’s WADA Club, illustrating the personal and societal toll of drug use.

Executive Director of the MTN Foundation, Odunayo Sanya, closed the event with a powerful call to action, urging media, communities, and policymakers to drive sustained investment in youth empowerment and early intervention.

The Foundation reaffirmed its commitment to building resilience among young Nigerians and catalyzing cross-sector partnerships for a drug-free future.


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