Connect with us

General News

Court Declines Access Bank’s Request to Freeze MTNN Account over N180Bn Claims

Published

on

Kindly share this post

Federal High Court in Lagos has declined Access Bank Plc’s request to freeze the bank accounts of MTN Nigeria Communications Plc over a disputed N180.95 billion debt claim linked to a long-expired infrastructure-sharing deal with now-defunct Multi-Links Telecommunications.

Court Declines Access Bank’s Request to Freeze MTNN Account over N180Bn Claims

Justice Akintayo Aluko, ruling on an ex parte application filed by Access Bank and three companies in receivership, Multi-Links Telecommunications Limited, Capcom Telecoms Limited, and Cyancom Limited, refused to issue an interim order freezing MTN’s funds.

The judge held that MTN must first be given an opportunity to be heard before any such drastic action is taken.

Access Bank, through its counsel Mr. Kunle Ogunba (SAN), had requested an interim injunction restraining MTN from withdrawing or tampering with funds across all its accounts in Nigeria up to the amount of N180.95 billion.

The bank claimed this figure represents a long-standing debt owed by MTN to Multi-Links.

As part of the orders sought, the applicants also requested that all financial institutions in Nigeria be directed to disclose, under oath, the balances in MTN’s accounts within seven days.

The suit, marked FHC/L/CS/1004/2025, essentially sought to lock down MTN’s funds pending the determination of the main suit.

However, Justice Aluko ruled that, while the plaintiffs presented a seemingly compelling case, MTN must be allowed to respond.

“Due to the peculiar nature of the case and the potential implications of the orders sought, especially in light of MTN’s correspondence marked ‘MTN 17,’ the defendant must be heard before any orders are granted,” the judge said, according to ThisDay Newspaper.

The court ordered MTN to appear and show cause within five days, with the case adjourned to June 23, 2025, for further proceedings.

According to Nairametric, at the heart of the dispute is a fibre-sharing agreement between MTN and Multi-Links dating back over a decade, sources say.

The deal gave both parties “irrefutable rights of use” of each other’s fibre infrastructure for 10 years, expiring in 2024.

However, due to financial and operational setbacks, Multi-Links reportedly underutilised MTN’s infrastructure while MTN made significant use of Multi-Links’ network.

As Multi-Links spiralled into financial distress, the company went into receivership under the control of Diamond Bank. Before it folded, Multi-Links attempted to sell its fibre assets to MTN, but negotiations collapsed over pricing disagreements.

Years later, a company named Hoop Telecoms emerged, claiming to have acquired Multi-Links’ fibre infrastructure. However, Hoop reportedly disclaimed any responsibility for Multi-Links’ past liabilities. Despite this, the company billed MTN nearly N170 billion, retroactively charging for years prior to its supposed acquisition of the assets.

MTN flatly rejected the demand, estimating its actual obligation under the original agreement at just over N1 billion.

The telecoms firm also took the matter to the Nigerian Communications Commission (NCC), which reportedly found that Hoop Telecoms lacked a valid telecom licence and thus had no legal standing to make such claims.

The situation grew more complex after Access Bank acquired Diamond Bank in 2019, thereby assuming control of Multi-Links’ receivership. According to sources familiar with the case, Access Bank aligned itself with Hoop Telecoms’ claims and pushed for a legal settlement, which MTN resisted.

One insider told Nairametrics that several vested interests, including political actors, saw the claim as an opportunity to pressure MTN into a payout.

“There was talk that pushing MTN to pay could benefit everyone involved,” the source said. “But MTN stood its ground and sought legal protection.”

Caught in this web of legal and commercial ambiguity, MTN sought a court’s protection.

But to the company’s surprise, Access Bank approached a court seeking a Mareva injunction, a legal order to freeze MTN’s accounts across Nigerian banks to the tune of N180.95 billion. Such orders are typically issued when a plaintiff fears the defendant may dissipate assets to frustrate judgment enforcement.

Insiders suggest that Access Bank may not have been fully briefed on the intricate history and legal background of the Multi-Links-MTN arrangement and might now be reconsidering its position.

According to one source, MTN and Access Bank have since opened lines of communication to explore an amicable resolution of the matter.

The judge’s refusal to grant the Mareva injunction offers MTN some short-term relief, but the legal battle is far from over.

The company now has until June 23 to respond formally and argue why the court should not freeze its accounts.

MTN declined to comment when contacted, stating that the case is subjudice. Access Bank has yet to respond to Nairametrics’ enquiry as of press time.

While the final outcome remains to be seen, the case raises deeper questions about the enforcement of legacy telecom agreements, the legal risks around receivership claims, and the influence of non-commercial interests in high-stakes disputes.

 

 

 

 


Kindly share this post

Ebere Melum-Nwogbo is a trained and practicing journalist. She is passionate about ICT and business journalism. She has over a decade experience spanning money and capital market as well as information technology

General News

FG Declares Admissions outside CAPS Illegal

Published

on

Kindly share this post

Federal government has declared that any admission into tertiary institutions conducted outside the Central Admissions Processing System (CAPS), will be deemed illegal.

FG Declares Admissions outside CAPS Illegal

Dr Tunji Alausa, minister of Education, gave the directive in Abuja on Tuesday at the 2025 policy meeting of the Joint Admissions and Matriculation Board (JAMB).

Alausa, therefore, warned universities, polytechnics, and colleges of education across the country against illegal admission.

He said institutions and individuals involved in such practices would be prosecuted and severely sanctioned.

“Any admission conducted outside CAPS, regardless of its intentions, is illegal.

“Both institutions and the candidates involved in such practices will be held accountable.

“Sanctions may include withdrawal of institutional assets and prosecution of culpable officers or governing council members,” he said.

CAPS, introduced in 2017, automates the admission process to eliminate human interference and administrative bottlenecks.

Alausa, however, reiterated the government’s commitment to strengthen transparency, fairness, and accountability in the nation’s tertiary education system.

He explained that while the responsibility for initiating admissions rests with the academic boards of each institution, JAMB, as a statutory regulatory body is mandated to oversee and regulate the process to ensure fairness and equity.

The Minister urged vice-chancellors, rectors, provosts, and governing councils to intensify oversight functions to prevent unauthorised practices.

He assured that the Ministry would monitor compliance closely in collaboration with JAMB.

The minister also reaffirmed the policy mandating integration of the National Identification Number (NIN) into the JAMB registration process.

“The NIN requirement has proven vital in safeguarding the integrity of our admission system by curbing identity fraud and multiple registrations.

“Any abuse of the NIN system will be identified and punished,” he said.

He highlighted the need for data-driven policies in the admission processes.

The Minister also presented statistics showing a mismatch between available admission quotas and actual student intake across many programmes, especially in agriculture, education, engineering, and the health sciences.

“We have capacity, but we are not admitting enough students.

“We need to start closing the gap, so that more children can access tertiary education,” he said.

He also criticised the proliferation of underutilised institutions, revealing that over 120 universities in Nigeria received fewer than 50 applications in the current admission cycle.

“The problem is not about access, it’s about alignment and capacity.

“We don’t need to open new tertiary institutions in every ward. Instead, we must expand and strengthen the capacity of existing ones,” he said.

On his part, Sen. Shuaib Salisu, chairman, Senate Committee on ICT and Cybersecurity,  called for stricter sanctions against institutions and administrators who undermine Nigeria’s admission process.

Salisu proposed the criminalisation of fraudulent admission practices.

He also warned institutions that exploit loopholes in the admissions system, allowing students to unknowingly pursue flawed admissions for years to desist from such practices.

He assured that the Senate Committee would explore legislation to criminalise such fraudulent practices, holding admission officers and institutional management accountable.

Salisu also called for an inclusive education system that drives peace and economic growth.


Kindly share this post
Continue Reading

General News

BRICS Leaders Seek Inclusive Access to AI

Published

on

Kindly share this post

To support a constructive debate towards a balanced artificial intelligence (AI) approach, the BRICS leaders have agreed on a set of guidelines to foster responsible development, deployment and use of AI technologies for sustainable development and inclusive growth.

The leaders of the BRICS nations – Brazil, Russia, India, China and South Africa – published a joint statement calling for a global governance framework for AI that is inclusive, representative and rooted in the principles of sovereignty, development and ethical responsibility.

The guidelines, which strictly refer to the use of AI in the non-military domain, should be applied through either domestic or applicable international frameworks, as well as through the development of interoperable standards and protocols, in inclusive, transparent and consensus-based processes, the statement reads.

BRICS is a political and diplomatic coordination forum for countries from the Global South. This year’s theme was “Strengthening global south cooperation for more inclusive and sustainable governance”.

The BRICS leaders’ statement positions AI as a transformative force for sustainable development and innovation, while also warning against uncoordinated governance models that could deepen global inequities, marginalise developing nations and fracture multilateralism.

It emphasises that AI governance should be anchored in the United Nations system to ensure inclusivity and legitimacy.

The BRICS countries warn against a fragmented regulatory landscape, advocating for co-ordinated multilateralism that includes the voices of developing countries – particularly from the Global South.

BRICS leaders reaffirmed their support for Digital sovereignty, saying each country must retain the right to shape AI policy and technology in line with its own development goals and legal frameworks. This includes capacity-building, data governance and technological autonomy.

“We firmly support the right of all countries to harness the benefits of the digital economy… to develop capacities in AI research, foster technological autonomy and innovation, ensure data protection, and promote their own digital economy,” the statement reads.

A major theme in the document is the need for fair, equitable and inclusive access to AI technologies. The BRICS leaders stress that all countries – regardless of economic standing – must be able to access and benefit from AI.

The group also called for global co-operation in building data governance frameworks that allow developing countries secure and equitable access to data, with full respect for privacy, intellectual property rights and national laws. This ties into support for open science, open innovation and open-source AI models that can fuel local innovation ecosystems.

On intellectual property, the statement advocates for a balance between proprietary rights and public interest to prevent exploitative data practices and ensure transparency in AI model development and deployment.

The BRICS countries voiced concern over algorithmic bias and the exclusion of underrepresented cultures and languages in AI datasets and models.

They called for ethical, transparent and accountable AI development that reflects cultural, demographic and linguistic diversity.

They also endorsed UNESCO’s Recommendation on the Ethics of Artificial Intelligence and called for international co-operation to develop inclusive datasets, tools to flag misinformation and mechanisms to mitigate bias – especially against vulnerable groups like women, children, the elderly and people with disabilities.

The BRICS nations stressed the importance of using AI as a tool for sustainable development, citing sectors such as healthcare, agriculture, education, energy and environmental conservation as priority areas.

They urged that AI development must be environmentally responsible, minimising carbon emissions and e-waste.

The potential of AI to enhance productivity and job creation was also recognised, as well as the risks of job displacement and exploitation. The statement calls for policies that safeguard worker rights, ensure compatibility between AI and human capabilities, and promote decent work in the digital economy.

“It is imperative to safeguard the rights and wellbeing of all workers, particularly those directly affected by the digital transformation… including generative AI,” the statement says.

The BRICS statement ends with a commitment to intensify co-ordination on AI governance and share the guidelines across international platforms. It extends an open invitation to other developing countries to contribute to and refine the emerging global framework for AI.

“We welcome contributions to further develop these guidelines, particularly from other developing countries, and will remain open to revisiting them.”


Kindly share this post
Continue Reading

General News

Tech-driven Solutions Receive Commendation @ Maiden Insurance Week Hackathon

Published

on

Kindly share this post

Mrs Yetunde Ilori, President of the Chartered Insurance Institute of Nigeria (CIIN), has commended the innovative and technology-driven solutions presented during the institute’s maiden Insurance Week Hackathon competition.

Ilori gave the commendation after the completion of the competition on Thursday in Lagos, held at the College of Insurance and Financial Management in Asese, Ogun, as part of the Insurance Week organised by the CIIN.

She described the solutions as crucial to the industry’s transformation and relevance in the digital age. “This shows that the future is bright for the Nigerian insurance industry.

We are transforming as an industry, and digital innovation is at the heart of that transformation,” Ilori said. She noted that 19 teams initially applied for the competition, but only six were shortlisted.

The competition, which targeted young Nigerians between the ages of 18 and 29, engaged six finalist teams over a fourweek intensive innovation process, culminating in a demo day on Wednesday in Lagos.

The hackathon focused on real-world challenges in the sector, such as inclusive insurance, fraud detection, risk management, and improving customer experience.

It was designed to cultivate the next generation of insurance innovators, deepen insurance awareness, and promote financial literacy among Nigerians.

The teams that participated in the final stage of the competition were: Ifokanbale, Insurbridge, Insurvate, Team Aegis, Team Phoenix, and The Assured Team. Team Aegis developed “Hustle Guard,” a microinsurance solution for tricycle drivers covering health, life, and income, in an effort to demystify micro insurance in Nigeria.

The Assured Team presented “Kolo Plus by Card,” an unstructured savings plan with payment and interest features tailored to low-income earners. Team Insurbridge created “Smarter Claims,” a solution aimed at improving the insurance claims process.

Team Phoenix introduced “HerShield,” a solution focused on empowering women and building trust in the insurance sector. The Assured Team also developed additional ideas to drive insurance penetration in underserved and informal communities.

After an engaging pitch session before a panel of judges, Team Insurvate emerged as the overall winner with its solution, “Claim Central”, an end-to-end digital platform designed to streamline the insurance claims process from policyholders to insurers.

Team Aegis secured second place, while Team Phoenix came in third. The panel of judges included financial sector experts such as Norah Igwe, Tunji Andrews, Diana Mulili, Sakeenat Bakare, Ibraheem Babalola, and Prince Adeshina Adeyemi-Doro.

Also speaking, Mr Eddie Efekoha, Chairman of the Insurance Week, said the hackathon demonstrated a conscious effort to explore how technology can help distribute insurance products to all parts of the country.

“We believe this initiative will spark more interest among the youth to engage with insurance, not just as consumers but as creators and innovators,” he said.

Speaking on behalf of the winning team, Mr Odunayo Ojeremi, leader of Team Insurvate, described the competition as highly competitive and rewarding. “We are excited and grateful for the opportunity.

“We didn’t expect to win, but we are glad our solution was recognised. We hope to improve ‘Claim Central’ and make it a platform that ensures seamless claims processing,” he said.


Kindly share this post
Continue Reading

Trending