Telecom
Etisalat Woes Deepens over $1.2Bn Debt

The fate of Etisalat Nigeria, the fourth largest telecommunications network operating in the country, hangs in the balance as the telecom giant battles to pay its creditors, according to the Nation.
Etisalat Nigeria had in 2013 obtained a seven-year loan facility of $1.2billion from 13 local banks and their foreign counterparts to refinance a $650 million loan as well as the expansion of its network but the company had missed the payment due to dollar shortfall in Nigeria’s financial system.
The loan, which involved a foreign-backed guaranty bond, was for Etisalat to finance a major network rehabilitation and expansion of its operational base in Nigeria.
The 13 local banks involved in the loan deal include: Zenith Bank, GT Bank, First Bank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank, and Union Bank.
According to the Nation, Abu Dhabi state investment fund Mubadala, the second-largest shareholder in the business, had in April presented a final restructuring plan to the banks which they flatly rejected. The banks further gave a one month window for repayment which lapsed in May 31st, 2017.
The telecoms company unable to redeem its payment, the banks have since issued Etisalat a default notice.
This is just as The Nation learnt at the weekend that Etisalat Nigeria is working with its lenders and Abu Dhabi state investment fund Mubadala, the second-largest shareholder in the business, to resolve debt woes it said were caused by a devaluation of the naira currency.
Mubadala spokesman Brian Lott told Reuters on Friday that a local media report saying that the fund has pulled out of Etisalat Nigeria was wrong and that several proposals are under discussion.
He declined to elaborate on the options being considered but said he will know more next week.
The Nigerian affiliate of Abu Dhabi-listed Etisalat has said it is in talks to restructure a $1.2 billion loan after missing a repayment, though sources have said that talks reached a deadlock on April 28.
In a statement by Ibrahim Dikko, Vice President, Regulatory & Corporate Affairs, Etisalat Nigeria, the company described as spurious news report that Mubadala Development Company, the majority shareholder of the company is exiting the business.
In the statement which reads in part, Dikko said: “Whilst it is premature at this stage of the ongoing discussion to affirm that this is the conclusive option, Etisalat Nigeria considers it pertinent to state that parties in the negotiation are considering a number of options and discussions are at an advanced stage regarding the syndicated loan agreement with the banks. It will therefore be presumptive and in bad faith to begin to predict the outcome.”
Etisalat Nigeria, he stressed, “Can confirm that negotiations with the consortium of banks regarding the syndicated loan agreement signed in 2013 have reached an advanced stage. As noted in an earlier statement, we are considering a number of options and are not taking anything off the table at this time.”
Etisalat, he further emphasised, “Remains a viable business, having recorded its best financial year in 2016. So parties are keen to ensure that the ongoing discussions and eventual outcome do not affect the day to day operations of the business whether now or after the announcement of our agreement. All parties have continually demonstrated an interest in the continued operations of Etisalat as a business as it remains a backbone of millions of small business owners; multinationals, government and indeed Nigerian subscribers in general.”
However, it does appear that the apex bank and the regulatory agency in charge of the telecoms sector are not willing to stick their necks out for Etisalat again judging by their mute indifference to the lingering crisis involved the embattled telecom company and the banks.
When our correspondents broached the subject before the CBN spokesman, Isaac Okoroafor, Acting Director of Corporate Communications at the weekend, his rather terse response spoke volumes. “Call the Etisalat people please. We have nothing to say on that.”
His counterpart at the NCC, Tony Ojobo, informed our correspondent that he was going to get back soon but never did as at the time of filing in this report.
In the view of industry experts, the future of the telecoms sector looks bleak without Etisalat. One of those who share this sentiment is Mr. Olusola Teniola, National President, Association of Telecommunications Companies of Nigeria (ATCON), the umbrella body of telecoms companies.
Speaking with our correspondent at the weekend, Teniola said the issue of Etisalat leaving is a very complex question, as the insinuation describes a scenario whereby the subscribers on their network can be easily accommodated by other networks, which is not necessarily the case.
According to him: “No single network as currently configured and engineered can provide the requisite capacity to cater for any additional traffic burden a collapse of any single mobile network operator with over 20million subscribers will cause. It is more feasible that a more likely scenario of a merger or acquisition will occur in the form of an international player coming in to ensure continuity of Etisalat’ operations. This is more of a preferred scenario that should occur anything else will be disastrous for the consumers’ choice.”
Options before Etisalat, banks
Among the many options before Etisalat is to sellout its entire equity. The telco also ran into problem in Tanzania when the owners refused to put in more money. Specifically, United Arab Emirates telecom operator Etisalat had in 2015 sold its 85 percent stake in Zanzibar Telecom Limited (Zantel) to Sweden’s Millicom.
Zantel, which has struggled against larger rivals Vodacom and Bharti Airtel, got up to $32million in net current liabilities at close of the deal, Etisalat said in an emailed statement.
Etisalat received $1 in cash while Millicom assumed the total debt obligations of $74million under the terms of the agreement subject to regulatory approval by the Tanzanian Communication Regulatory Authority.
According to a source in one of the dealing banks who asked not to be named, one of the options the banks proposed to Etisalat management as a middle way out of the crisis was for it to request for a bankruptcy status.
The official, who requested that his name should not be revealed, since he was not authorised to speak on behalf of the consortium, said the bankruptcy option would require having receivership management appointed by the banks to oversee its operations.
The other option before Etisalat is to go into a merger with the existing telcos operating in the country. Already MTN had in the past signified interest to buy Etisalat but had to back pedal following its trouble with the NCC over unregistered sims.
However, reliable sources say Globalcom may also be interested in Etisalat buyout but the telecom giant is said to be keeping its plan under wraps.
One of the options before the banks is to approach the court and get the board dissolved and take the company into receivership. But the challenge however is that the banks can’t run the firm because they don’t have operating license neither do they have the technical knowhow to do so.
But, the NCC appears not to be favourably disposed to the takeover proposal, the source said, as it believed that Etisalat is not only a viable going concern but also willing and able to negotiate the servicing of its loans.
Etisalat has the option of running to NCC for help but informed sources say Etisalat has not been carrying them along. But the NCC sources say they are ready to protect the over 21million subscribers on the network.
Telecom
Study Shows Blocks in Telegram are Pushing the Underground Out

Modern messengers, such as WhatsApp, Telegram, Signal and others, are often used for illicit purposes. Kaspersky Digital Footprint Intelligence has conducted an in-depth monitoring of over 800 blocked cybercriminal Telegram channels between 2021 and 2024.

While a range of illegal activities continues to be hosted on the platform, its environment has become noticeably more challenging for sustained underground operations.
Telegram’s bot framework and other built-in features make for a low-effort ecosystem for the underworld.
A single bot can simultaneously manage queries, process cryptocurrency payments, and instantly deliver stolen bank cards, info-stealer logs, phishing kits, or DDoS attacks to hundreds of buyers per day, often without operator involvement.
Unlimited, non-expiring file storage eliminates the need for external hosting when distributing multi-gigabyte database dumps or stolen corporate documents. This frictionless automation naturally favours high-volume, low-price, low-skill offerings, such as leaked bank cards or other data, hosting malware, etc.
High-value, trust-dependent deals (for instance, zero-day vulnerability information) still remain on reputation-gated dark-web forums.
Kaspersky researchers found two clear trends related to illegal activities on Telegram. The average lifespan of shadow channels has increased, with the proportion of channels surviving over nine months more than tripling in 2023-2024 compared to 2021–2022. At the same time, Telegram’s blocking activity has risen significantly.
Monthly takedown figures recorded since October 2024 – even at their lowest – are comparable to the peak levels seen throughout 2023, and the overall pace continued to accelerate in 2025. This impedes malicious activities.
Other disadvantages of Telegram for cybercriminals include the lack of default end-to-end (E2E) encryption for chats, the inability to use their own servers for communication (due to the messenger’s centralised infrastructure), and closed server-side code, which makes it impossible to verify its functionality.
As a result, several established underground communities, including the nearly 9,000-member BFRepo group and the Angel Drainer malware-as-a-service operation, have already begun shifting primary activity to other platforms or proprietary messengers, citing repeated disruptions of their activities on Telegram.
“Fraudsters find Telegram a convenient tool for many malicious activities, but the risk-reward balance is clearly shifting. Channels are managing to stay online longer than a couple of years ago, yet the dramatically higher volume of blocks means operators can no longer count on long-term stability.
“When a storefront or service disappears overnight – and sometimes reappears only to be removed again weeks later – building a reliable business becomes much harder. We’re starting to see the early stages of migration as a direct consequence,” comments Vladislav Belousov, Digital Footprint Analyst at Kaspersky.
Telecom
Galaxy Backbone Marks Two Decades of Powering Nigeria’s Digital Evolution

Galaxy Backbone Limited (GBB), the Federal Government’s leading ICT infrastructure and shared services provider, will mark its 20th anniversary in June 2026 with a grand celebration that reflects two decades of innovation, resilience, and national impact.

Since its inception in 2006, Galaxy Backbone has been at the heart of Nigeria’s digital transformation journey; building the technological foundation that supports modern government operations and public service delivery. What began as a bold vision to connect government has grown into a critical national platform that drives efficiency, transparency, collaboration and innovation across the public sector.
Over the last 20 years, GBB has helped redefine how government works. By providing secure connectivity, enterprise-grade data centre services, cloud platforms, and digital collaboration tools, Galaxy Backbone has enabled Ministries, Departments and Agencies (MDAs) to move from fragmented, paper-based processes to more integrated, technology-driven systems.
This transformation has improved government-to-government coordination, strengthened engagement with businesses, and enhanced the delivery of services to citizens. Today, the digital infrastructure powered by Galaxy Backbone supports thousands of government users, hundreds of institutions, and critical national platforms that Nigerians rely on daily.
A key part of this journey has been the Federal Government of Nigeria’s investment, managed by GBB in robust national infrastructure, high-capacity and world class data centres, fibre-optic connectivity across multiple states, secure hosting services, and shared platforms that have helped government operate more efficiently and responsively. These contributions have played a pivotal role in Nigeria’s progress toward a more digital, agile and citizen-centered public service.
Galaxy Backbone’s impact has earned both national and global recognition. In 2025, the organisation was ranked first overall in the Federal Government Website Performance Scorecard, reflecting its commitment to excellence in digital service delivery. Internationally, GBB, a couple of years ago, received the prestigious United Nations Public Service Award, a testament to its leadership in promoting a whole-of-government approach to digital transformation.
As GBB celebrates two decades of service, this milestone is more than an organisational anniversary; it is a celebration of Nigeria’s digital evolution. It is an opportunity to appreciate how collaboration between government, industry partners, technology providers, and dedicated public servants has helped build a stronger, more connected nation.
The June 2026 anniversary celebration will bring together stakeholders from across the public and private sectors to reflect on the journey so far, acknowledge the partnerships that have shaped this success, and chart an ambitious course for the future. It will highlight how collective effort, shared vision, and innovation have positioned Galaxy Backbone as a strategic national asset.
Looking ahead, Galaxy Backbone remains committed to deepening digital transformation across the country; expanding infrastructure, strengthening cybersecurity, enhancing service delivery, and supporting the Federal Government’s drive for a smarter, more efficient and digitally empowered Nigeria.
At 20 years, Galaxy Backbone stands proud of its past, confident in its present, and inspired by the limitless possibilities ahead.
Telecom
Galaxy Backbone Marks 20 Years, Tops FG Website Scorecard

Galaxy Backbone Limited (GBB), Nigeria’s leading federal ICT infrastructure provider, has announced its 20th-anniversary celebration for June 2026, marking two decades since unifying government’s fragmented digital landscape into a secure national platform.

Galaxy Backbone
The announcement by Head of Media and Corporate Communications Chidi Okpala follows GBB’s top ranking in the 2025 Federal Government Website Performance Scorecard by the Bureau of Public Service Reforms, cementing its leadership in digital service delivery and transparency.
Managing Director Professor Ibrahim Adepoju Adeyanju described the milestone as celebrating Nigeria’s shift from paper-based silos to a cloud-first, integrated government. Achievements include the UN Public Service Award for 1-GOV.net, high-speed fiber deployment for G2G and G2B interactions, IPPIS payroll rollout, and pandemic-era digital support.
The June event will gather public-private stakeholders, global tech partners, and policymakers to unveil GBB’s next-decade roadmap emphasising cybersecurity, AI in public service, and rural connectivity.
GBB positions itself at the forefront of Nigeria’s 2030 digital nation drive, with 20 years of innovation signaling a smarter, connected future.
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