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Forfeiture Claim on Airtel Shares False- Subsidiary of Ecobank Group

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O&O Networks Limited, Special purpose vehicle owned by the Ecobank Group has said that contrary to certain media reports, there is no forfeiture order of the Federal High Court of Nigeria in its proceedings that is directed against Ecobank Transnational Incorporate (ETI) or Ecobank Nigeria Limited.

 

O&O Networks Limited is defending long-standing proceedings in the Federal High Court relating to its ownership of shares in Airtel Networks Limited that were once owned by it.

 

The company previously owned by Oceanic Bank, formed part of Ecobank Transnational Incorporated’s (ETI) in 2011 after the acquisition of Oceanic Bank. Legal proceedings were first initiated against O&O Networks Ltd in December 2006 by Broad Communications Ltd (“plaintiff”), in the Federal High Court of Nigeria.

 

A statement released by O&O Networks, pointed out that there is no forfeiture order of the Federal High Court of Nigeria in these proceedings that is directed against ETI or Ecobank Nigeria Limited.

 

According to the statement, there have been no material legal developments in the plaintiff’s substantive claim for monetary compensation since 2017, though a trial date on the substantive merits was recently fixed for May 28, 2019.

 

The statement reads: “Contrary to certain press reports, there is no forfeiture order of the Federal High Court of Nigeria in these proceedings that is directed against ETI or Ecobank Nigeria Limited, and neither ETI nor Ecobank Nigeria Limited has made or is required by law to make any payment to the Federal High Court of Nigeria in relation to this long-standing litigation. There have been no material legal developments in the plaintiff’s substantive claim for monetary compensation since 2017.

 

“In 2006, the plaintiff’s claim was grounded on an alleged right of first refusal over shares in Airtel Networks Limited that O&O Networks owned. The plaintiff claimed ownership of the Airtel shares based on its right of first refusal. In 2017, the plaintiff amended its claim to seek monetary compensation of USD equivalent of Naira 10 billion (approximately US$28 million) in place of its claim of ownership of the Airtel share.

 

” Since the matter was filed in 2006, it has not proceeded to trial on the substantive merits of the claim to date though a trial date on the substantive merits was recently fixed for May 28, 2019.

 

“In August 2018, O & O Networks sold its shares in Airtel Networks Limited for Naira 22.5 billion (approximately US$62.5 million) with the permission of the Federal High Court on 7 June 2018 and subsequently in September 2018, the plaintiff filed an interlocutory application requesting the Federal High Court of Nigeria to grant an order directing O&O Networks to place Naira 22.5 billion (approximately US$62 million) – the entire proceeds of the sale of the Airtel shares and an amount which is significantly in excess of the plaintiff’s total monetary claim – into an escrow account in the name of the Chief Registrar of the court, pending the final determination of the substantive claim. The Federal High Court of Nigeria granted the plaintiff’s interlocutory application on 7 March, 2019.

 

“O&O Networks has filed a notice of appeal and an application for stay of execution to this ruling. O&O Network’s appeal to the interlocutory order is currently pending, and it intends to prosecute the appeal vigorously.

 

“O & O Networks Limited believes the substantive claim of the plaintiff is without merit and will continue to vigorously defend all proceedings – interlocutory and substantive – in relation to the plaintiff’s long-standing claim.”

 


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Study Shows Blocks in Telegram are Pushing the Underground Out

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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.


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Galaxy Backbone Marks Two Decades of Powering Nigeria’s Digital Evolution

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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.

 


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Galaxy Backbone Marks 20 Years, Tops FG Website Scorecard

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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 Marks 20 Years, Tops FG Website Scorecard

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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