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Econet Wireless Wins Again as International Tribunal Awards it Damages

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Econet Wireless Limited has said it has come out victorious for a second time in less than a month in long-running legal cases to establish its ownership rights to shares in the Bharti Airtel operator in Nigeria after the international tribunal hearing the case awarded it damages, Nigeria CommunicationsWeek has learnt.
The company said that  “We are naturally pleased that we received very clear findings in our favour in both of these actions. As SingTel (part-owner of Bharti Airtel) has been forced to acknowledge in its latest Q3 results, both outcomes are clearly “unfavourable rulings”
In an up-beat start to the year, EWL has not only won its long-running battle in the Nigerian Federal High Court to confirm its 5% stake in Bharti Nigeria, but has also been victorious in an International Arbitration examining the deal by which Celtel Nigeria, now owned by Bharti, seized control of 65% of the Nigerian operator in 2006.
The International UNCITRAL Tribunal (comprising senior Nigerian and English lawyers) was said to have found multiple breaches of a shareholders’ agreement by both the selling shareholders and Celtel Nigeria, ordering them to pay damages/equitable compensation to Econet (in an amount to be determined in a further round of the arbitration).
In a statement Econet said: “We are naturally pleased that we received very clear findings in our favour in both of these actions. As SingTel (part-owner of Bharti Airtel) has been forced to acknowledge in its latest Q3 results, both outcomes are clearly “unfavourable rulings” from their perspective – but to Econet they represent a vindication of its long campaign for restoration of its rights in Nigeria, and for compensation for loss of a controlling stake which has since been sold to Bharti for a premium of several billion dollars.”
It would be recalled that a as a Federal High Court in Lagos had late January this year ruled that the Bharti Airtel should reinstate EWL’s five percent shares in the company.
It also ordered Airtel Nigeria to revert to its former name, Econet Wireless Limited.
Econet Wireless, an early investor in the company, is an international company domiciled in the United Kingdom.

 

The company had opposed Zain’s decision to sell the Nigerian business to Bharti Airtel, claiming its right of first refusal.
Zain, however, went ahead to sell its African mobile business including Nigeria to Bharti in 2010 for $10.7 billion.
According to the summary of the judgement delivered by the Justice Shuaib, Econet is a shareholder of Bharti Airtel Nigeria Limited and holds five per cent of the issued shares of the company.
The Court, therefore, ordered that all actions, and resolutions taken by the company, since October 2003, at which Econet was entitled to be notified, and to participate in, as a shareholder, but was prohibited, were null and void
This, according to the court, includes decisions to sell shares, issue shares, and transfer shares to third parties.
Airtel Networks Limited has filed an appeal against the Federal High Court ruling which ordered it to restore the interest of Econet Wireless Limited (EWL) in the company.
In a statement, the company said: “In the light of the judgment by the Federal High Court of Nigeria regarding Econet Wireless Limited’s (EWL) claim to the ownership of five per cent equity in Airtel Networks Limited (Airtel Nigeria), an appeal against the said judgment has been filed by Airtel Nigeria. The Company abides by and has full confidence in the law of the land, and believes the Appeal Court will determine the appeal on its merits.
“In addition, the judgment will have no impact on the equity holding of other shareholders in Airtel Nigeria. We wish to assure our customers, employees and business partners that the ruling will in no way affect operations or the company’s ability to fulfill obligations to its stakeholders, the statement said.”


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UK Appoints Peter Vowles as British High Commissioner to Nigeria

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The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


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Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

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World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


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PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

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As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


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