Telecom
Banks Remove $1.2Bn 9Mobile Debt from Books
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.
Clydestone Ghana Plc has filed a writ of summons and statement of claim against MTN Ghana, MTN Group Limited and Mobile Money Fintech Limited, alleging unauthorized use of its intellectual property.
The company announced the court action at the Ghana Stock Exchange, confirming proceedings in the Commercial Division of the High Court of Ghana.
The case relates to work commissioned in 2007 that Clydestone alleges was later used without authorisation or compensation.
Clydestone said the claim involves proprietary intellectual property, confidential commercial information and operational methodology developed during the engagement. The company is seeking declarations, damages and equitable remedies.
In a statement, Clydestone said MTN Ghana engaged it in 2007 to develop a commercial and operational framework for a mobile money business.
“The work was developed and delivered by the company’s founder and Group CEO, Paul Jacquaye, and included a full mobile money ecosystem covering the commercial model, operational architecture, implementation methodology and business case.”
Clydestone said the work was commissioned on the understanding that a non-disclosure agreement and memorandum of understanding would be signed.
It alleges these agreements were not finalised despite repeated requests.
The company further alleges MTN Ghana later used its proprietary work and methodology without authorisation or compensation, including in MTN Mobile Money Ghana and other markets.
Clydestone said the alleged use has continued since the launch of MTN Mobile Money Ghana in 2009.
“The wrongful use of that work has been ongoing since 2009. What has changed is the availability of independently verifiable information that documents its scale and commercial significance,” the company said.
It cited the GSMA State of the Industry Report on Mobile Money 2026 and MTN Ghana’s 2025 annual report as evidence of the platform’s scale.
According to Clydestone, the reports show approximately 19.3 million active users and annual revenue of about GHS 6.0 billion ($516m).
The company said it reviewed its records following these publications and concluded there were sufficient grounds to initiate legal proceedings.
It added that it has received no payment or acknowledgement for the work since December 2007, and that pre-action correspondence in 2026 received no substantive response.
“The Board of Directors has unanimously authorised the commencement of these proceedings,” the company said.
Jacquaye said: “This case is about accountability for commissioned intellectual property.
“When independent publications in 2025 and 2026 revealed the scale of the mobile money business, we reviewed all documentation relating to the original engagement and concluded these proceedings were necessary.”
MTN Group Limited, named as a defendant, had not commented at the time of publication.
National Information Technology Development Agency (NITDA) has reaffirmed its commitment to expanding digital inclusion through strategic partnerships aimed at equipping underserved communities with digital skills and access to technology.
Mr. Oladejo Olawunmi, Director, Digital Development Services representing the Director General of NITDA, and the Executive Director of Cal-Maji Foundation, alongside members of their respective delegations, pose for a group photograph following a strategic engagement on advancing digital literacy, capacity building, and digital inclusion for women, youth, and underserved communities.
Director-General of NITDA, Kashifu Inuwa, made the commitment during a courtesy visit by the Executive Director of Cal-Maji Foundation, Mrs Faith Ayuba, to the agency’s headquarters in Abuja.
Represented by the Director of Digital Development Services, Mr Oluwunmi Oladejo, Inuwa said collaboration with community-based organisations remained central to NITDA’s vision of ensuring that no Nigerian was left behind in the country’s digital transformation journey.
He noted that feedback from beneficiary communities demonstrated the long-term impact of the agency’s interventions across the country.
“It is always gratifying to receive feedback from communities that have benefited from our interventions.
“Many of these projects were implemented years ago, and it is rewarding to know they are still creating opportunities,” he said.
The NITDA boss explained that the agency continued to monitor the performance of its intervention centres nationwide while leveraging emerging technologies to enhance digital learning and virtual capacity-building.
According to him, the National Digital Literacy Framework remains the foundation of NITDA’s efforts to equip children, students, artisans, farmers, professionals and other groups with digital competencies needed in a technology-driven economy.
Responding to requests for additional support, Inuwa disclosed that the agency would consider training community-based instructors to sustain digital literacy initiatives at the grassroots.
He encouraged the foundation to submit a formal request, accompanied by evidence of activities at its digital centre, to facilitate further intervention.
The director-general, however, acknowledged that maintaining internet connectivity across numerous intervention centres nationwide remained a major funding challenge.
He stressed the need for innovative financing models and stronger collaboration to ensure the sustainability of digital inclusion projects.
Earlier, Ayuba commended NITDA for its openness to partnerships and its commitment to supporting initiatives that deliver measurable impact in underserved communities.
She described the agency as one of the few government institutions that prioritised impactful programmes over personal connections.
According to her, the Cal-Maji Foundation focuses on improving access to education, strengthening food systems, enhancing food security and providing social protection for women and young people, particularly in remote communities.
Ayuba said NITDA’s Knowledge Access Centre, established at the foundation’s community school in a border community in Kogi State, had significantly transformed learning by providing students and residents with access to computers, internet services and digital education.
“The ICT centre became an equaliser.
“Young people who ordinarily would never have had access to computers or the internet suddenly had the opportunity to acquire digital knowledge.
“We came back simply to say thank you because this partnership has changed lives,” she said.
She disclosed that more than 1,000 children had benefited from the foundation’s educational programmes.
Ayuba also presented a former student who progressed from the community school to a Nigerian university after utilising the digital resources available at the centre.
She described the student’s achievement as evidence of the enduring impact of the collaboration.
The foundation’s executive director appealed for deeper collaboration through the training of community instructors, upgrading of computer systems and expanded access to NITDA’s digital capacity-building programmes.
She stressed that rural communities must not be left behind as Nigeria advances in emerging technologies such as artificial intelligence, cybersecurity and digital innovation.
The meeting ended with both organisations reaffirming their commitment to strengthening collaboration to expand digital opportunities, promote inclusive technology adoption and support Nigeria’s digital economy agenda.
National Information Technology Development Agency (NITDA) has unveiled the National Software Quality Assurance (SQA) Framework to improve software quality, strengthen cybersecurity and enhance public confidence in Nigeria’s digital infrastructure and government services.
The framework, approved by the Director-General of NITDA, Kashifu Inuwa Abdullahi, under the provisions of the NITDA Act 2007, establishes national standards for the design, testing and deployment of software across Federal Government institutions, regulated industries and the broader digital ecosystem.
According to the agency, the initiative is aimed at reducing costly information technology failures, improving service delivery and ensuring that software powering critical national infrastructure meets globally accepted quality standards.
The framework comprises three regulatory instruments, namely the National Software Development Guideline, the National Software Testing Guideline and the Software Testing Organisations Licensing (STOL) Guideline.
NITDA explained that the National Software Development Guideline mandates structured software development processes, secure coding practices based on the Open Worldwide Application Security Project (OWASP), standardised system documentation and compliance with Web Content Accessibility Guidelines (WCAG) 2.1 AA for citizen-facing digital services.
The National Software Testing Guideline introduces mandatory testing benchmarks covering software functionality, cybersecurity, system performance under peak demand and interoperability before deployment.
Under the STOL Guideline, independent Licensed Software Testing Organisations (LSTOs) will be accredited and regulated to evaluate and certify software before it is deployed.
The agency stated that all Federal Government software projects would now be required to undergo independent third-party testing and obtain official certification before deployment.
It added that compliance with the framework would become a mandatory requirement for obtaining IT Project Clearance.
To strengthen risk management, the framework introduces a three-tier software classification model based on the criticality of systems.
Under the classification, Class A covers high-risk and critical national infrastructure such as core banking systems, national identity platforms and electricity grid control systems.
Class B applies to medium-risk enterprise platforms, while Class C covers lower-risk internal software applications.
NITDA said Class A systems would undergo more rigorous security assessments, including advanced penetration testing and specialised audits conducted by top-tier accredited software testing organisations.
The agency identified three major benefits of the framework.
It said the initiative would improve the reliability and security of digital public services, protect government investments from software failures and cyber threats, and enhance service delivery to citizens.
It also noted that regulating independent software testing would stimulate the growth of Nigeria’s software assurance industry, create employment opportunities for technology professionals and promote indigenous innovation.
According to NITDA, the framework will further strengthen international confidence in locally developed software, enabling Nigerian technology companies to compete more effectively in global markets and attract foreign investment.
Speaking on the development, Inuwa said quality remained fundamental to building trust in Nigeria’s digital economy.
“Quality is the foundation of digital trust.
“With this Framework, every software solution serving Nigerians, whether built for government or the private sector, will meet clear national standards for security, reliability and interoperability.
“This is how we modernise government technology and position Nigerian software to compete on the global stage,” he said.
The agency disclosed that the framework would take full effect in the second quarter of 2027.
It said the implementation period would include nationwide stakeholder engagement, capacity-building programmes and the accreditation of software testing organisations.
NITDA added that an Expression of Interest (EOI) would soon be issued to qualified organisations seeking licences to operate as independent software testing bodies under the new regulatory regime.
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