Telecom
Court Asks CBN, NCC Not to Conclude Etisalat’s Sale over $43m Debt

A Federal High Court in Abuja has warned the Central Bank of Nigeria (CBN), the Nigerian Communications Commission (NCC) and others involved in the transaction for the sale of troubled telecom firm, Etisalat (9mobile) against taking further steps to conclude the sale.
The warning was informed by claim by some aggrieved investors that despite a subsisting order of the court, made on October 10, 2018 by Justice Binta Nyako, barring parties to the transaction from taking further steps pending the determination of the suit, the CBN, First Bank and others have allegedly sold the firm and transferred its ownership.
The warning by the court is contained in a Form 48 issued by the court’s Registrar, on institutions listed as defendants in the suit marked: FHC/ABJ/CS/288/2018 filed by the aggrieved shareholders, through Afdin Ventures Ltd and Dirbia Nigeria Ltd.
The Form 48 reads: “Take notice that unless you obey the directions contained in the order of the Federal High Court number three, Abuja, made on the 10th of October 2018 ordering parties to maintain status quo, with regard to the sale of Etisalat Nigeria Limited (rebranded 9mobile), you will be guilty of contempt of court and will be liable to be committed to prison.”
The affected defendants are Karington Telecommunications Ltd, Premium Telecommunications Holding NV, First Bank of Nigeria Plc, Central Bank of Nigeria, Etisalat International Nigeria Ltd (trading under the name and style of 9mobile) and the Nigerian Communication Commission.
The aggrieved subscribers, who claimed to be major investors in Etisalat, said they were excluded from the firm’s decision making and therefore want a refund of their investment estimated at $43,330,950.
Afdin and Dirbia, in newly filed court documents, alleged that the defendants have not only sold the company, despite the existing restraining order, they have effected a transfer of ownership to a new set of buyers. They exhibited newspaper publications, indicating that the defendants have allegedly proceeded with the sale in breach of the pending court order.
The aggrieved shareholders, in a pre-action notice issued by their lawyer, Mahmud Magaji (SAN), are threatening to institute fresh suits against the CBN, NCC and First Bank in an effort to retrieve their investment and accrued interest.
The pre-action notice, copies of which were sighted in Abuja, are addressed to the Governor of CBN and The Executive Vice Chairman/Chief Executive Officer, NCC.

Part of the notice reads: “The intending plaintiffs, who are shareholders in Etisalat Nigeria Ltd, having purchased a total number of 1, 300,391 at $13,003,910 only and 3,300,004 Class A shares at $30,030,040) intend to sue for the recovery of their investment, dividends on their shores, and damages for breach of contract.
“Please kindly recall that, by the custodian agreement, all the shares certificates of the plaintiffs, were kept under your custody. However, you have failed to exercise your role in good faith leading to the sale of Etisalat Nigeria Limited to Teleology Nigeria Ltd, at the detriment of our clients.
The intending plaintiffs aver that First Bank of Nigeria Plc was both a receiving bank and also a custodian of the shares acquired by the intending plaintiffs from Karington Telecommunications Ltd.
“The intending plaintiffs aver that, under the private placement memorandum (PPM), First Bank of Nigeria Plc, as custodian of the intending plaintiffs’ shares in Karington Telecommunications Ltd, has the obligation to ensure that the shares held by the intending plaintiffs, as beneficial owner, has the duty of custody, safekeeping, warehousing and preservation of the property (shares) of the intending plaintiffs, amongst others

“First Bank, in allowing the shares of Emerging Markets Telecommunications Services Ltd (EMTS) to be so charged as security for the syndicated loan by fixed charge, failed to keep the shares of the intending plaintiffs separate and/or segregated, but has allowed the intending plaintiffs’ shares to be co-mingled with the shares of other investors and thereby failed In its custodial duties in clause 5.1.2 at page 71 of the PPM
“First Bank also failed to observe and perform its warranty that it shall ensure the observance and performance of its custodial duties in the private placement memorandum (PPM) and also as contained in the application form.
“The intending plaintiffs have suffered the liability of the complete loss of their investment in the shares of Karington Telecommunication Ltd and indirect economic interest in the shares of EMTS which are to be sold to recover the unpaid syndicated loan from the thirteen banks, of which First Bank of Nigeria PIc is a part.
The intending plaintiffs also never received any dividend payment since 2009; have completely lost their investment or indirect holding/economic interest in the shares of EMTS, which First Bank of Nigeria allowed to be used as a fixed charge to secure the repayment of the loan by the syndicated banks to EMTS and which loan has remained unpaid and the security is being enforced.
Telecom
Lebara Nigeria Becomes Member of GSMA Network

Lebara Nigeria has become a member of the Global System for Mobile Communications Association (GSMA) as it expands operations in the West African country.

The membership places Lebara Nigeria within a global network of more than 1,000 mobile operators, device manufacturers, technology companies and digital service providers.
Through the GSMA, the company will have access to industry research, technical standards, policy engagement and industry initiatives.
Lebara Nigeria said the move reflects its participation in the wider telecommunications ecosystem as it develops its operations in Nigeria’s mobile market.
Nigeria’s telecommunications sector plays a central role in the country’s digital economy, with more than 170 million active mobile subscriptions supporting services such as digital payments, e-commerce, education and healthcare.
Industry analysts say participation in international bodies such as the GSMA supports knowledge sharing and the adoption of industry standards.
Lebara Nigeria said GSMA membership will support its engagement with industry developments and policy discussions in the telecommunications sector.
The company said it remains focused on operating in Nigeria’s mobile telecommunications market as demand for connectivity continues to grow.
GSM Association is the advocacy and lobbying organization for the mobile communications industry, representing more than 1,000 mobile operators as full members and a further 400 companies in the broader mobile ecosystem as associate members.
Telecom
Vitel Wireless Warns Public, Says it Not Running any Investment Scheme

Management of Vitel Wireless, mobile virtual network operator (MVNO), has distanced the company from a fraudulent scheme operating under the name: “Vitel Shares Services.”

In an official statement, the management clarified that Vitel Wireless is not selling shares or running any investment schemes.
They warned that the operators of “Vitel Shares Services” are using unauthorised websites, mobile applications, social media promotions, and bank accounts falsely linked to Vitel Wireless to mislead the public.
The statement reads: “The attention of Vitel Wireless has been drawn to a fraudulent scheme operating under the name ‘Vitel Shares Services.’
“We wish to state clearly that Vitel Wireless has no affiliation with Vitel Shares Services, or any platform claiming to offer Vitel shares, investments, or financial products through unofficial channels.
“We do not solicit investments through agents, social media, websites, apps, or third parties. Any platform claiming to offer Vitel Wireless shares or investments outside our official channels is fraudulent and should be treated as such.
“We urge the general public to remain vigilant and verify all information through official Vitel Wireless communication channels before making any payments or sharing personal data.”
Telecom
Airtel Nigeria Deepens Focus on Data Usage Transparency @ Customer Forum

Airtel Nigeria has concluded its second Customer Forum in Abuja, bringing together a large section of customers including high-volume data subscribers, 5G customers, and key stakeholders in another landmark engagement aimed at addressing concerns around data usage, transparency, and customer experience.

The forum themed “Understanding Your Data and Taking Control 2.0.” aimed to strengthen trust in Nigeria’s rapidly evolving telecommunications landscape. The session also featured inputs from representatives of the Nigerian Communications Commission (NCC).
Delivering the Keynote remarks, Dinesh Balsingh, CEO of Airtel Nigeria, who was represented by Femi Adeniran, Director, Corporate Communications and CSR, emphasised that trust remains the most valuable currency in telecommunications, and Airtel remains committed to strengthening customer confidence through transparency and continuous engagement.
He explained that discussions around data consumption have become increasingly important as digital lifestyles evolve, with smartphones, cloud services, video streaming and emerging artificial intelligence applications significantly influencing data usage patterns.
According to him, Airtel recently introduced the Airtel Data Calculator, an innovative tool designed to help customers estimate their data needs based on online activities such as multimedia streaming, video calls, social media usage, and gaming.
“The purpose of the Airtel Data Calculator is to provide greater visibility, support informed decision-making and place more information directly in the hands of customers. Because transparency should never be viewed as a compliance exercise. Transparency is good business,” he stated.
He further reassured customers that Airtel has no incentive to shortchange subscribers through inaccurate billing, forced spending or unnecessary data depletion, stressing that the company’s growth depends on customer satisfaction, loyalty and trust.
Adeniran also highlighted Airtel’s continued investments in network infrastructure, fibre capacity, digital platforms, artificial intelligence capabilities, customer service systems and workforce development, noting that these investments are aimed at improving service quality and enhancing customer experiences.
Oladokun Oye, Director, Customer Experience, Airtel Nigeria, while welcoming participants to the event, said the forum was created to provide customers with an open platform for education, engagement and problem-solving, noting that the customer remains at the centre of Airtel’s business.
“Data has become central to everyday life, powering work, education, commerce, entertainment, healthcare and countless opportunities. As data usage grows, so too does the desire for greater visibility and understanding.
Today’s conversation is part of an ongoing journey. A journey toward greater transparency. A journey toward deeper understanding. And a journey toward a better customer experience for every Airtel subscriber,” he said.
The forum also featured practical demonstrations on data consumption management, device settings, and usage habits that impact data usage. It also included an interactive session by which Airtel teams provided clarifications and offered feedback to customers.
The Abuja event follows the successful maiden edition held earlier this year in Lagos and aligns with broader industry efforts led by the Nigerian Communications Commission (NCC) to improve consumer awareness, transparency, and confidence within the telecommunications sector.
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