Telecom
Keystone Bank Seeks to Join Suit in Tussle over 9Mobile Shares Ownership
Keystone Bank has brought a motion seeking to be joined as a party to the suit over the ownership and control of Emerging Markets Telecommunication Service (EMTS), which is the holder and operator of 9Mobile Telecommunication licence.
The messy turnaround came as a Federal High Court sitting in Abuja resumed hearing in the suit.
At the hearing, Keystone Bank, brought a motion seeking to be joined as a party to the suite, a proposed statement of defence and counter-claim which discloses triable issues and also demonstrates applicant’s interest in the subject of this suit.
The bank in its counter-claim is seeking among other reliefs that the resolution of the 5th defendant passed on December 7, 2023, increasing the share capital of the 6th defendant to counter-claim from N90, 000,000 to N2, 000,000,000 and reducing the 3rd defendant’s percentage stake/interest/shareholding in the 6th defendant to counter-claim to approximately 4.5 percent is null and void.
Abubakar Funtua, the plaintiff, had dragged General Theophilus Danjuma (retd) and his company LH Telecommunication Limited, as well as the other defendants to court over the ownership and control of EMTS trading under the name of 9Mobile.
The other Defendants are Seltrix Limited (sued as the 1st defendant), the Corporate Affairs Commission, CAC, Nigerian Communications Commission, NCC, Hayatu Hassan Hadeija, Teleology Nigerian Limited and one Mohammed Edewor, a Director in Teleology Nigeria Limited.
At the resumed hearing in the case, parties were confronted with a motion by Keystone Bank seeking to be joined as a party to the suit with a statement of defence, counter-claim and allegation of fraud against some parties in the suit No. /ABJ/CS/1971/2024.
The motion states among other things that: “The applicant, Keystone Bank, also intends to present a counter-claim and has prepared a proposed statement of defence and counter-claim which discloses triable and fecund issues and also demonstrates applicant’s interest in the subject of this suit.
“The case of the applicant, is that the resolution passed by the 3rd defendant on May 9, 2023, approving the change of control/ownership of the 5th defendant from the 3rd defendant to the 8th defendant, in violation of the facilities agreements (Deed of Share charge) between the applicant and 3rd defendant, and the orders of the court made on February 20, 2023, in suit No. FHC/L/CS/297/2023 is illegal, null and void.
“The case of the applicant, as set out in the proposed statement of defence and counter-claim, is that the resolution passed by the 3rd defendant on May 9, 2023, approving the change of control/ownership of the 5th defendant from the 3rd defendant to the 8th defendant, in violation of the facilities agreements (Deed of Share charge) between the applicant and 3rd defendant, and the orders of the court made on February 20, 2023, in suit No. FHC/L/CS/297/2023 is illegal, null and void.
“The applicant also asserts in the proposed statement of defence and counter-claim that the resolution of the 5th defendant passed on December 7, 2023, increasing the share capital of the 6th defendant to counterclaim from N90,000,000 to N2,000,000,000 and reducing the 3rd defendant’s percentage stake/interest/shareholding in the 6th defendant to counterclaim to approximately 4.5 perceent is null and void.
“The applicant intends to seek the following reliefs, endorsed on the proposed statement of defence and counter-claim, at the hearing of the case: “A declaration that the 1st defendant to counterclaim is not a shareholder, either directly or indirectly, of the 6th defendant to counterclaim.
With the introduction of Travel Saga, a premium, fast-paced gaming experience that is currently live and accessible to customers on its network, Globacom has lifted the bar for mobile entertainment in the country.
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SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.
SHELT
The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.
SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.
“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”
The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.
Meta Platforms, owner of Facebook, has appointed Dina Powell McCormick, a former adviser to President Donald Trump, as its new president and vice chairman, bolstering its leadership amid aggressive AI and infrastructure expansion.
Dina Powell McCormick
The announcement, made on Monday, positions Powell McCormick – who recently stepped down from Meta’s board after eight months – to guide overall strategy, including multi-billion-dollar investments in data centres and global partnerships.
A Goldman Sachs veteran with 16 years in senior roles and prior stints as deputy national security adviser under Trump and in the Bush administration, she brings deep finance and international ties to the role.
Meta CEO Mark Zuckerberg hailed her as “uniquely qualified” for the company’s next growth phase, while President Trump praised the move on Truth Social as a “fantastic choice”.
The hire signals Meta’s efforts to strengthen White House relations, following recent dinners with Trump and U.S. investment pledges worth hundreds of billions
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