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CBN Recants, Sees “Happy” Resolution of $8.1Bn Dispute with MTN

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Central Bank of Nigeria (CBN) has reportedly surrendered some ground in its tussle with MTN Group Ltd., pledging that a dispute over the repatriation of $8.1 billion in dividends from the country will soon be resolved.

 

This after coming out all guns blazing and vowing repeatedly it would not buckle under pressure.

 

Examiners from the CBN are reviewing documents provided by Johannesburg-based MTN and four banks accused of moving money out of Nigeria without the CBN’s final authorization.

 

Godwin Emefiele, CBN governor, clarified that the regulator had initially wanted MTN to reverse the flows and that there was no liability on behalf of the lenders.

 

“We’ll resolve the matter,” Emefiele said. “Everyone will be happy” from MTN and the lenders to the Central Bank of Nigeria and the government, he added.

 

Nigerian authorities are changing their tone after coming under criticism that the impasse with MTN and lenders including Citigroup Inc., Standard Chartered Plc, Standard Bank Group Ltd. and Lagos-based Diamond Bank Plc threatened to spook investors. T

 

he regulator had initially demanded MTN and the banks refund the money, spurring the biggest collapse in MTN’s stock in 20 years.

Godwin Emefiele, CBN governor

 

“The erratic nature of the CBN — and perhaps even the manner in which its position has been articulated in the MTN saga — will at the minimum highlight concerns regarding the business environment in Nigeria,” said Ryan Cummings, a director at Signal Risk, which advises companies in Africa.

 

“And, at worst, illustrate that the country is a jurisdiction where state involvement could occur with detrimental consequences should there be political capital to derive from it.”

 

“The CBN now is trying to be as diplomatic as possible while at the same time they just shot themselves in the leg,” said Abiodun Keripe, head of research and strategy at Elixir Investment Partners in Lagos.

 

“They said these guys have erred and all of a sudden you are now talking about making them happy. All of these will form a precedent going forward, how they manage it is critical. It would be good if there is a soft landing just for the health of the economy and the capital market.”

 

The accusations against MTN — including allegations by the attorney general’s office that it owes $2 billion of back taxes — come as President Muhammadu Buhari’s administration faces criticism of its economic management in the run-up to the elections.

Two years ago, MTN negotiated a $5.2 billion fine down to about $1 billion plus a commitment to list its local business in Lagos. That penalty was related to subscribers that weren’t properly registered in the country.

 

“It’s a shoot-first-and-think-later scenario,” Kayode Omosebi, an analyst at Lagos-based Asset & Resource Management Co., said on the central bank’s handling of the MTN matter.

 

The CBN should “take their time and do some analysis before coming out to the market,” but at least investors now “know that things may not be as bad as the CBN put it initially.”


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Cassava Launches Sovereign Cloud for Africa’s Public Sector

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In the wake of increasing geopolitical tension, Cassava Technologies has unveiled its National Sovereign Cloud offering for African governments.

The solution, the company claims, will help the continent’s governments ensure data is kept on infrastructure that remains under local legal and operational jurisdiction.

According to the official announcement, made yesterday, the solution provides “secure, locally-governed digital infrastructure that enables the deployment of AI-enabled public services”.

The overarching solution encompasses cloud, cyber security, AI computing infrastructure, as well as local language AI models and skills support for governments.

The announcement comes amid increasing uncertainty over the hosting of sensitive national data on cloud services operated by foreign hyperscalers, which are subject to legal frameworks, such as the U.S. CLOUD Act. The CLOUD Act opens the door to allow American authorities to access data stored on the servers of US hyperscalers, wherever those servers are physically located.

Cassava has claimed separately that currently, “approximately 33% to 45% of the world’s data is hosted in the USA”.

The company added: “A sovereign cloud reduces exposure to extraterritorial laws, improves cyber resilience, and ensures that model weights and training data for public AI remain under national custody.”

The Africa Data Centres Association’s 2026 Economic Report states that “data sovereignty has evolved from a legal aspiration into a strategic policy lever”.

Ahmed El Beheiry, Group COO and Group Chief Technology and AI Officer, Cassava Technologies said: “Across Africa, governments are accelerating their digital transformation agendas and are increasingly focused on ensuring that data and digital infrastructure remain secure and sovereign.”

Announced at the Mobile Word Congress in Barcelona, this week, the Sovereign Cloud offering launch accompanied the launch of Cassava’s Cloud Partner programme.

The partner programme targets mobile network operators and system integrators across Africa to resell and distribute AI, cloud, and other digital services using Cassava’s infrastructure and technology platforms.

El Beheiry added: “We are expanding Africa’s sovereign AI ecosystem to build solutions that address the continent’s unique challenges while creating new opportunities for growth and digital inclusion.”

The programme offers partners access to NVIDIA Cloud Partner solutions, Cassava’s AI Factory, its own native AI solutions and its AI Multi-Model Exchange, which supports both Anthropic’s Claude and Google’s Gemini models.


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MTN Nigeria Non-Executive Director Mazen Mroue Quits to Focus on Group Role

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Mazen Mroue, a non-executive director at MTN Nigeria Communications Plc, has resigned effective February 27, 2026, to prioritise other responsibilities within the MTN Group, the company announced in a Nigerian Exchange Limited (NGX) filing.

MTN Nigeria Non-Executive Director Mazen Mroue Quits to Focus on Group Role

MTN Nigeria

 

The notice, signed by company secretary Uto Ukpanah, stated: “This is to enable Mr. Mroue to focus on other priorities within MTN Group Limited. The Board wishes to express its appreciation to Mr. Mroue for his immense service to MTN Nigeria and wishes him success in his future endeavours.”

Mroue joined MTN Nigeria’s board on June 1, 2022, bringing over 28 years of telecom experience. A veteran MTN executive, he previously served as CEO of MTN Uganda and MTN Liberia, non-executive director at MTN Cyprus, and held leadership roles at MTN Ghana.

Since February 2022, he has been MTN Group’s Chief Technology and Information Officer, overseeing technology strategy and governance. Earlier, as MTN Nigeria’s COO from August 2018 to January 2022, he also sat on the MTN Nigeria Foundation board.

The exit follows MTN Nigeria’s stellar 2025 results, posting a ₦1.70 trillion profit before tax—reversing a ₦550.3 billion loss in 2024 driven by forex woes—marking one of the telco’s strongest rebounds.


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Google Adds Yorùbá, Hausa to AI Search, Boosting Access for Millions of Nigerians

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Google has rolled out support for Yorùbá and Hausa languages in its AI-powered Search features—AI Overviews and AI Mode—enabling millions of Nigerians to get quick answers, summaries, and conversational web exploration in their mother tongues.

Google Adds Yorùbá, Hausa to AI Search, Boosting Access for Millions of Nigerians

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The update forms part of Google’s push to cover 13 African languages, including Afrikaans, Akan, Amharic, Kinyarwanda, Afaan Oromoo, Somali, Sesotho, Kiswahili, Setswana, Wolof, and isiZulu, selected based on high search activity across the continent.

Now, a Kano student can ask complex questions in Hausa, while an Ibadan trader seeks business tips in Yorùbá—both receiving culturally nuanced AI responses via text or voice on Android, iOS, or web.

Taiwo Kola-Ogunlade, Google’s West Africa Communications Manager, said: “Building truly global Search requires nuanced local understanding. With Gemini-powered AI, we’ve made advanced capabilities relevant in Yorùbá and Hausa, so Nigerians converse naturally with Search in their mother tongues.”

To use: Open the Google app, tap AI Mode, and query in Hausa or Yorùbá for personalised guidance—breaking language barriers and making technology reflect Nigeria’s diverse identity.


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