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Legend Internet Plc Makes History as First Indigenous Telecom Firm on NGX

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Nigerian Exchange Limited (NGX), has made history with the listing of Legend Internet Service Plc  as the first company in its Telecoms sector and the first company to be listed this year.

Legend Internet Plc Makes History as First Indigenous Telecom Firm on NGX

Legend’s N2 billion ordinary shares, with a par value of 50 kobo each, were listed at N5.64 per share.

Dr Umaru Kwairanga, chairman of NGX Group,  who welcomed Legend’s board and management, commended the company for its successful listing on the Exchange

He highlighted that listing signifies an elevated commitment to corporate governance and provides opportunities to leverage the Exchange’s diverse asset classes for capital raising.

He stated, “As we celebrate this listing, with many more in the pipeline, I commend the management of Legend Internet Plc for this remarkable milestone.

“This bold step demonstrates confidence in your business model and growth vision.

It also marks the formal emergence of a broadband service as a distinct sub-sector on our Exchange.

Legend has evolved from a focused digital network provider to a diversified technology player, achieving significant advancements in broadband infrastructure development and data services.

We anticipate continued growth in the future.

“We are still bringing many companies on board the NGX, including Dangote, NNPC and others.

“As Africa’s leading exchange, NGX has consistently championed innovation, transparency and sustainable value creation through our investment in cutting-edge infrastructure and a comprehensive range of product offerings, spanning equities, bonds, ETFs and derivatives

Speaking at the Facts Behind the Listing Ceremony, Dr Ladi Bada, chairman,  Legend emphasised that the company, as the first indigenous telecommunications company on NGX, has substantial value to offer the market.

Bada encouraged Nigerians to embrace the broadband industry, recognizing it as the fastest-growing sector globally.

He noted that the company had been instrumental in laying fiber optic cables connecting 250 homes in the Suleja and Abuja environs.

He expressed optimism that the Exchange would serve as a catalyst to replicate such commendable projects across other regions of Nigeria.

“We are here to create an enabling digital infrastructure to achieve the projected one-trillion dollar economy.

“On this special day, Legend Internet takes a bold step forward, not just for itself, but for the broader ecosystem of technology, infrastructure, and enterprise in Nigeria.

“As we begin this exciting new chapter as a publicly listed company, we do so with humility and boldness.

We remain committed to continuous innovation, expanding our reach, and delivering value to shareholders and society

“A listing on the Nigerian Exchange is more than a financial event. It is a signal and a declaration that a business is ready to be held to the highest standards of governance, performance, and public trust,” he said

Providing insights into the company’s development, Ms Aisha Abdulaziz, chief executive officer of Legend Internet Plc, stated that the company had evolved from an internet service provider to a comprehensive digital service provider.

Abdulaziz noted that with broadband penetration in Nigeria being less than one per cent, Legend Internet was strategically positioned to deepen access

She affirmed the company’s commitment to taking Nigeria’s digital economy to the next level

“When we started Legend, we weren’t just building an internet company; we were building a movement

A movement fueled by the belief that every Nigerian deserves access to premium, reliable, and high-speed internet, regardless of their location or occupation

“From late nights in our first office to laying fiber across Abuja, to launching products that made people’s lives easier and faster, our journey has always been about connections

“Connecting people to opportunities, connecting homes to entertainment, connecting Nigeria to the digital future it deserves. Our journey has always been about a better way to live.

“This listing is a symbol of our commitment to transparency, sustainable growth, and the kind of excellence that outlives hype.

“Legend’s primary focus now is on unlocking digital value at the household level,” she said.

Mr Jude Chiemeka, chief executive officer of NGX, congratulated the company for making the strategic decision to list.

Mr Chiemeka noted that Legend’s listing on NGX now brings the total number of listed securities to 322

Also, Mr Temi Popoola, chief executive officer of the Nigerian Exchange Group, encouraged the investing public to support the newly listed company.

 


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Telecom

Telcos Resume SIM Card Sales after 2-Week Halt

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Telecommunications operators have resumed full SIM swap and related services following a four-week nationwide outage linked to the National Identity Management Commission (NIMC)’s migration to a new verification platform.

Telcos Resume SIM Card Sales after 2-Week Halt

The outage rendered millions of subscribers unable to perform SIM-related tasks such as swaps, replacements, and activations.

Operators in the industry say the disruption began on June 26, 2025 when telcos temporarily halted SIM registrations and swaps due to unforeseen technical challenges during the transition to NIMC’s upgraded identity verification system.

The migration was mandated to enhance the integrity and efficiency of national identity management but caused major service interruptions across all Nigerian networks.

However, July 21, both MTN and Airtel confirmed via their social media handles that SIM swap services have now fully resumed.

MTN announced: “SIM swaps have now resumed. We can confirm that NIMC services are fully operational and appreciate their support in the migration to a new platform for NIN verification services for the telecommunications industry.

In a public update issued via its MTN Nigeria Support handle on X (formerly Twitter), MTN confirmed that SIM swaps have now resumed.

Telecom operators complained that the portal was unreliable or inaccessible, which resulted in the suspension of SIM swaps, number porting, and new SIM registrations, even though NIMC maintained that the platform was operating as intended.

Unexpected technical difficulties arose during the switch to the new platform, according to the Association of Licensed Telecommunications Operators of Nigeria.

Real-time NIN verification for SIM registration, replacement, and network migration was impacted by these issues.

“Unexpected technical difficulties have surfaced, impacting real-time NIN verification for SIM registration, replacement, and porting, following a recent directive from the National Identity Management Commission mandating Mobile Network Operators to transit to a new identity verification platform,” ALTON stated in a previous joint statement signed by Gbenga Adebayo, chairman, and Damian Udeh, publicity secretary.

 


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Nigeria, Others Achieve 84% Adult Mobile Phones Penetration

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The World Bank has affirmed that 84 per cent of adults in low-and middle-income economies, including Nigeria, own personal mobile phones.

The bank in its Global Findex 2025 report said mobile phone ownership was widespread and nearly everywhere. It said data from the Global Findex 2025 Digital Connectivity Tracker, revealed that “86 per cent of adults worldwide, and 84 per cent of adults in low- and middle-income economies, own personal mobile phones.”

The report pointed out that mobile phones and the internet had become widespread and essential to daily life in every economy around the world.

A earlier overview had indicated that Nigeria had a high mobile phone penetration rate, with estimates around 85 per cent to 87 per cent in 2024.

This translates to over 200 million mobile connections, making Nigeria a leading market in Africa for mobile phone ownership and usage. While the overall penetration is high, there’s a growing trend towards smartphone adoption, with forecasts predicting over 140 million smartphone users by 2025.

According to DataReporter, a total of 150 million cellular mobile connections were active in Nigeria in early 2025, with this figure equivalent to 64.0 per cent of the total population.

However, note that some of these connections may only include services such as voice and SMS, and some may not include access to the internet.

There were 107 million individuals using the internet in Nigeria at the start of 2025, when online penetration stood at 45.4 percent. Nigeria was home to 38.7 million social media user identities in January 2025, equating to 16.4 percent of the total population.

These headline stats offer a great overview of the “state of digital” in Nigeria at the start of 2025, but in order to make sense of how digital trends and behaviours have been evolving over time, we need to dig deeper into the data.

According to the World Bank, “as of 2024, individual ownership of mobile phones reached 86 per cent of adults worldwide.

“For many people, barely an hour goes by without their using a mobile device to make a call, ext a friend, read the news, access business information, post a meme on social media, pay for something, play a game, engage with a colleague or a customer, or search for information.

“As access to and use of digitally connected technologies increase, people, businesses, and governments place an increasingly high priority on online interactions. “Digitally connected technologies have clear, well-documented benefits.”

It further highlighted that access to mobile phones and the internet was associated with reduced poverty, increased consumption, and more employment for individuals in lowand middle-income economies.

“Women also experience these benefits, as internet access enables access to flexible jobs3 and has been shown to increase female labor force participation. “Mobile phones also facilitate information sharing.

For instance, in agricultural contexts, farmers’ access to real-time prices and buyer demand data can inform their decisions on where to sell, enhancing market efficiency and reducing the distances they would otherwise travel to get the best return for their product and time.

“Internet access also helps create jobs and aids individuals and countries in exporting goods and services,” it added. The World Bank further noted that owning a mobile phone furthermore enabled financial access through mobile money and other mobile financial services.

It added that these financial accounts and services, typically offered by mobile network operators or fintech firms and accessed via networks of local agents, were associated with lower rates of poverty, increased consumption and savings,and greater resilience to economic shocks.


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Sophos Secures Leadership Spot in 2025 Gartner Magic Quadrant for Endpoint Protection

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Sophos, a global leader of innovative security solutions for defeating cyberattacks, today announced that it has been named a Leader in the 2025 Gartner Magic Quadrant for Endpoint Protection Platforms (EPP), marking the 16th consecutive time the company has received this recognition.

Sophos has been recognized in the Gartner Magic Quadrant for Endpoint Protection Platforms (EPP) since the inaugural publication for this category in 2007.

Sophos’ market-leading endpoint security solutions include Sophos Endpoint powered by Intercept X, Sophos Extended Detection and Response (EDR/XDR), and Sophos Managed Detection and Response (MDR).

Over 300,000 organizations trust Sophos endpoint security solutions to defend against cyberthreats, including advanced remote ransomware attacks and active adversaries.

Unique to Sophos, the solution includes adaptive defenses that automatically disrupt attackers by dynamically adjusting protection levels based on threat context.

“Sophos’ strength lies in its prevention-first strategy, designed to stop breaches before they start, adapt defenses in real time, and strengthen detection and response when it matters most,” said Kyle Falkenhagen, SVP, Product Management, Sophos. “We believe that receiving this recognition in the highly competitive endpoint security market for 16 consecutive reports reflects our relentless focus on developing innovative solutions that stay ahead of the global threat landscape and the adversaries we face every day.”

Sophos and Secureworks: The future of protection, detection, and response

Following Sophos’ acquisition of Secureworks in February 2025, combining two leading and complementary portfolios to offer a comprehensive suite of solutions for small, midmarket and enterprise organizations.

Secureworks Taegis XDR customers can use Sophos Endpoint to elevate their cyber defenses, at no additional charge, delivering both improved protection and return on investment.

The integration of Secureworks also adds a new Counter Threat Unit (CTU) to the Sophos X-Ops advanced threat response joint task force, further expanding the rich threat intelligence that informs all customers’ defenses.

Backed by Sophos’ advanced security technologies and a broad network of intelligence contacts and partners, the CTU plays a critical role in identifying and tracking threat actors and analyzing anomalous activity, uncovering new attack techniques, threats, and major shifts in the threat landscape.


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