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InfraCredit to Guarantee PAT’s N10bn Infrastructure Bonds Issuance

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InfraCredit has announced that it will guarantee Pan African Towers (PAT) Digital Infra Fund SPV Plc’s N10 billion 10-Year Series I Senior Guaranteed Fixed Rate Infrastructure Bonds Due 2032 (PATSeries IBonds) under the N50 billion Debt Issuance Programme.

PAT Digital Infra Fund SPV Plc is a special purpose-funding vehicle established by Pan African Towers Limited as part of the company’s capital-raising plan.

PAT is a digital telecommunications infrastructure company and wireless service facilitator, offering colocation and infrastructure sharing services to mobile network operators and internet service providers.

In a statement, the Chairman of Pan African Towers Limited, Mr. Wole Adeleke said: “PAT’s ambition is to be the number 1 indigenous wholly-owned digital telecommunications infrastructure and wireless service facilitator in Nigeria.

“In the last 3 years that we commenced business, we have demonstrated capacity to achieve faster growth in the number of our rental assets, with solid top and bottom-line performance supported by long-term contracts with leading market leaders in mobile telecommunication and internet service in Nigeria. And we are pleased that InfraCredit was able to provide full credit enhancement for this debut Bond Issuance programme.

“We are very passionate about the environment and part of the proceeds from the Bond Issue will be utilized to green our network of Build-to-Suite Towers to reduce carbon emission; an objective that aligns with that of our major customers.”

Commenting also, Chinua Azubike, the Chief Executive Officer of InfraCredit, in a statement said: “We are pleased to have supported Pan African Towers, Nigeria’s fast growing indigenous digital infrastructure service provider’s first naira issuance in the local debt capital markets for expansion and growth that will also reduce its carbon emissions.

“We are also proud to support the ambitions of Nigeria’s National Development Plan to facilitate the formation of private capital investments in digital infrastructure that will accelerate job creation and local economic growth.

“The need for digital connectivity is more essential than ever as Nigeria accounts for over 27per cent of all internet usage in Africa, and much of this internet access are powered by telecommunication infrastructure service providers like PAT.

“This transaction strongly demonstrates the especially important role of the local pension funds in the allocation of long-term domestic credit to the private sector for sustainable development. PAT’s remarkable growth over the past four years of operation has been underpinned by its cost efficiency leadership and service quality philosophy.

“With over 1,000 long lease tenancy contracts fromleading telecommunications service providers, especially tier-1 players like MTN, Airtel and 9mobile, PAT is the third largest and the only major local infrastructure service provider and wireless service facilitator in the Nigerian telecommunications subsector.”


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LIRS to Invoke NTAA to Recover Unpaid Taxes from Bank Accounts, Others

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Lagos Internal Revenue Service (LIRS) pursuant to Section 60 of the Nigeria Tax Administration Act (NTAA), plans to ask Nigerian banks to debit bank accounts of employers who failed to remit tax liability.

LIRS to Invoke NTAA to Recover Unpaid Taxes from Bank Accounts

This was disclosed in a recent notice on Sunday.

LIRS stressed that the move was in line with the implementation of the country’s NTAA and other new tax laws, which took effect on January 1, 2026.

“Where a taxpayer fails, neglects, or refuses to settle any established outstanding tax liability when due, LIRS may exercise its power under Section 60 to direct any of the following persons to pay the amount owed by the taxpayer:

“Banks and other financial institutions; Employers; tenants, debtors, or customers of the taxpayer; Agents, business partners, and any person holding money on behalf of the taxpayer; Any person owing money to the taxpayer, whether presently due or accruing. Once a substitution notice is issued, the person served is statutorily required to remit to LIRS the amount. Specified in the notice from funds belonging to, or payable to, the defaulting taxpayer,” the LIRS notice partly read.

Meanwhile, Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, weeks ago ruled out claims that the government would debit personal accounts over tax remittances.


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Anambra Cuts Monday Pay to Kill Sit-at-Home

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Anambra State will implement pro-rata salary payments for civil servants starting February 2026, targeting chronic Monday absenteeism from the long-running sit-at-home order, Information Commissioner Dr. Law Mefor announced Saturday.

Anambra Cuts Monday Pay to Kill Sit-at-Home

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Speaking at an Awka briefing after the Executive Council’s end-of-tenure retreat, Mefor said improved security and transport have eliminated excuses for the four-year disruption, which cost the state trillions in lost revenue. “Workers enjoyed full pay despite staying away; now, no work means no pay for that day, calculated over 24 working days,” he stated.

Compliance measures include mandatory Monday clock-in forms, with markets urged to reopen fully amid bolstered security. This builds on a January 22 executive order docking 20% pay from teachers absent on Mondays.

Mefor warned that lost Mondays cripple revenue collection and productivity, rejecting alternatives like Saturday shifts as capitulation to agitators.


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Stakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit

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As AI adoption accelerates across Nigeria, leaders at the “AI in Action Now” conference 2026 have called for a balance between rapid innovation and strict regulatory governance. The event, held at the Lagos Oriental Hotel, highlighted both the doggedness of Nigerian builders and the risks of unregulated data usage.

Dotun Adeoye, Co-Founder of AI Nigeria, raised alarms over “Shadow AI”, a trend where employees upload sensitive official documents to public AI platforms. He praised the Nigerian Data Protection Commission (NDPC) for its recent aggressive stance, including multi-million-dollar fines against major banks and social media brands.

“Innovation without governance is dangerous. The regulator now has the job of educating players. We are working in partnership with them to ensure players don’t just get fined, but actually understand how to protect data locally rather than storing it abroad, ” Adeoye noted.

Addressing issues of lack of infrastructure to carry AI adoption, Conference Convener Debola Ibiyode admitted that while Nigeria lacks the traditional foundation for AI adoption, the tech community cannot afford to wait.

“The simple answer is we don’t have the infrastructure, but Nigeria has never really had infrastructure to drive anything, and we still thrive, ” Iboyode said, encouraging students and builders to look beyond current limitations. “Once we start to build based on what we have now, it will encourage those who need to provide the infrastructure to do their part. The world will not wait for us,” she insisted.

To bridge this gap, she highlighted the AI Foundry Africa, an incubator designed to mentor ideas into market-ready products.

Meanwhile, speaking to journalists on the sidelines, Biodun Ogunleye, the Lagos State Commissioner of Energy and Mineral Resources, echoed the sentiment that the government’s role is to facilitate the right environment through partnership. He emphasized that data generated from interactions with the government must have long-term value.

“We must ensure that in all facets from production to interaction with government, the tools required to ensure data has value are appreciated,” Ogunleye stated.

He concluded that through private-sector collaboration, the government can focus on its primary functions while leveraging AI to ensure the nation aspires for the future.


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