Broadcasting
MTN Board: Between sentiment and the law
By Ray Umukoro
A pro-democracy activist and lawyer, Osa Director, has sued MTN Nigeria Plc. In suit No. FHC/L/CS/1413/24 filed at the Federal High Court, Ikoyi, Lagos, the activist vide an originating summons is asking the court to dissolve the board of MTN.
Without prejudice to the outcome of the case now before Justice Deinde Dipeolu, it is important to interrogate the context and motive of the suit, its propriety and relevance. But, first, it must be established that the plaintiff reserves the right to seek and pursue judicial intervention on a matter he deems fit.In this instance, he is accusing the telecommunications giant of industry capture, undue dominance and influence peddling with the calibre of persons it has filled its Board with. In his submission, the MTN Board is populated with men and women with regulatory agency experience and clout. “The board of MTN being occupied by individuals who have a history of regulatory oversight, taxation authority and pensions will undermine the integrity of our various institutions and create room for influence peddling and regulatory capture,” the plaintiff asserts.
For example, he argued that Dr. Ernest Ndukwe, an engineer of repute, who is the current chairman of MTN board was a former Executive Vice Chairman of the Nigerian Communications Commission, NCC, which was a licensor and chief regulator of MTN.
Also, Mrs. Ifueko Omogui Okauro, another director on the board of MTN was the pioneer Chief Executive of the Federal Inland Revenue between 2004 -2012. Another Board member spotlighted was a former minister of Communication Technology, Mrs. Omobola Johnson, an engineer. The ministry she presided is charged with performing oversight function over MTN. Also, the pioneer Director General and Chief Executive of National Pension Commission, Pencom, Alhaji Mohammad K. Ahmad is on the board of MTN. His argument is that such constituted board gives undue dominance and advantage to MTN. To him, it amounts to influence peddling and industry capture.Among the reliefs sought by the plaintiff are, a declaration that the appointments of the affected officers to the board of MTN contravenes universally acceptable corporate governance practices. He is asking the court to grant an order nullifying their appointments, and a perpetual injunction restraining the affected persons, their servants, agents and or privies from either further appointing or accepting any such appointment.
The plaintiff is also requesting the court to mandate the affected persons to refund benefits, monetary or otherwise already received by them by virtue of their appointments. A cost of N50 million is demanded to be awarded against the defendants. While it is appropriate to leave the court to determine the fate of the afore-listed prayers, it is equally imperative to state the liberties and privileges available to MTN to make appointments into its Board.
First, it must be stressed that MTN Nigeria which is duly listed on the Nigerian Exchange (NGX) has been a market leader since 2001 when the early bird mobile network operators (MNOs) rolled out services. This was many years before the appointment of the ex-regulators as claimed by the plaintiff. Therefore, their appointment cannot equate to ‘market capture’ in a market in which MTN was a clear leader ab initio.
The plaintiff portrays MTN as an unpatriotic entity with a tendency for undercutting competition. This is an unkind cut even as it is an uncharitable assertion to make on a company that showed unwavering confidence in the Nigerian market more than the competition. Nigerians are witnesses to the heavy investments made by MTN from 2001 which also gave it a head-start in the marketplace, amassing more subscribers and acquiring the status of a telco with more national spread.
Needless restating here that as part of its culture of global best practice, MTN has always recruited masterminds, unassailable professionals and technocrats with a pedigree of sterling performance. The cast of Board members listed by the plaintiff fall within the class of professional outliers with a track record of excellence. MTN has not offended any Nigerian law by appointing the best of the lot. It is in tandem with its culture of placing merit above mediocre.
Besides, these men and women have left their past duty posts as regulators and are not known to sit actively on the board of other corporates that are in competition with MTN. It is unfair to criminalise an entity that places premium on excellence.When has it become a sin to hold public office in Nigeria and to hold further offices afterwards? It’s hard to point at any law in Nigeria’s legal jurisprudence that MTN and the defendants violated. There appears here a conflict between law and sentiment. We leave that for the court to adjudicate on.
In the case of Ndukwe, the NCC guidelines for EVCs and Commissioners prescribe three years cooling off period after service before taking up another assignment. Ndukwe exited NCC in February 2010 and did not take up any employment or board appointment until 2018, a good eight years after leaving office.
The same applies to all the other directors listed in the affidavit. They were appointed into public offices after successful careers in the private sector and they returned to their respective private sector endeavors after the few years spent in government assignments. It should be stated that the four person’s stint in government represented less than 20% of their total work experience. So, where is the offence?Anybody with access to the plaintiff’s submissions in his originating summons would think that MTN is a recalcitrant corporate which does not play by the rules. Yet, this is MTN Nigeria that has paid out billions in taxes to Nigeria; the same MTN that has awarded 13, 717 scholarships to 4,949 Nigerian students within 13 years through its Foundation. The same MTN Nigeria that spent about N29 billion in 2024 to deliver primary healthcare at the grassroots across the country, partnering with the Private Sector Health Alliance of Nigeria to deliver 52 Primary Healthcare Centres (PHCs) across the country; and with a promise for additional 40 qualitative and affordable PHCs.
MTN is one of the highest tax-paying companies in Nigeria. In July 2024, MTN paid over N549 billion in taxes and levies to the Federal Government. It ranks as top VAT-payer in Nigeria contributing over N200 billion in VAT per month to the national purse.
This MTN has executed 1,023 projects across Nigeria alongside 50 unique projects, reaching over 31 million people.Since it stepped into Nigeria, MTN has been doing good. Everywhere you go, MTN’s imprints of common good for the good people of Nigeria stares you in the face. From education, healthcare, human capital development and infrastructure, MTN has become a recurring factor in Nigeria’s development. The company that is spending over N200 billion for the completion of the 110km Enugu -Onitsha dual carriageway under the Tax Credit Scheme of the Federal Government cannot suddenly be branded an outlaw. MTN Nigeria is a responsible corporate citizen and it cannot be otherwise branded.
*Umukoro, public policy analyst, writes from Lagos.
Luft Pay TV has officially launched in Nigeria’s Pay TV landscape, bringing a fresh perspective to home entertainment.
Officials of Luft Pay TV at the launch
The brand’s dynamic debut in Lagos recenlty, drew media executives, content creators, industry stakeholders, and entertainment enthusiasts.
Yemi Adebowale, head of Corporate Communications and Media at Luft Pay TV, emphasised the brand’s mission to simplify entertainment and provide real value. “Luft Pay TV is more than just another player in the market.
He said, “We’re here to simplify entertainment, eliminate confusion around billing, and provide real value with high-definition content that reflects both global quality and local identity.
Luft Pay TV’s standout feature is its all-in-one subscription model, offering over 35 premium channels for ₦7,500 per month.
The channel lineup includes Sports, Live sports action, Movies: Nollywood and Hollywood films as well as Kids’ Programming, Documentaries, Music and Lifestyle content.
“Decoder and STB Kit Prices: Decoder: ₦25,000 – Complete STB kit with accessories: ₦35,000. As a proudly Nigerian brand, Luft Pay TV is committed to promoting local storytelling through partnerships with indigenous content creators.
“This initiative aims to project African stories globally and provide an inclusive, affordable, and proudly African entertainment experience to Nigerians everywhere.”
Luft Pay TV has commenced nationwide installations across the six geopolitical zones, supported by a growing distribution network and robust customer service infrastructure.
This ensures a seamless user experience for subscribers
With its innovative approach and commitment to Nigerian talent, Luft Pay TV is poised to revolutionise the television experience in Nigeria.
By Aniekan Ezekiel
What happens when legacy meets preparedness? What results from such a combination? Let us not be in a hurry to put forward any answers yet. Instead, let us consider first the opposite situation: When legacy meets unpreparedness.
The world abounds in examples of this distressing situation. A dynasty that has built wealth from generation to generation, with its illustrious heirs providing generational leadership, finds itself in a strange phase where an ill-prepared heir takes over the reins and in that same generation, not the next, wipes out the entire family fortune built over several generations.
We see the same thing with nations. History is replete with examples of great nations built by great leaders, which slid into oblivion when they were hit by arguably the greatest misfortune that ever befalls humanity – bad leadership. It is the reason American author and leadership expert John Maxwell asserts, “Everything rises and falls with leadership.”
As with nations, so with organisations. We see organisations that have thrived for decades and over several generations, get a new leader who is not prepared for such leadership, and the leader pushes the organisation to the brink of collapse.
Contrast this picture with the situation at Nigeria’s most enduring corporate organisation with the most amazing legacies of firsts, First Bank of Nigeria Limited, which witnessed a leadership transition about a year ago. Faced with a number of quality options in and outside the then management team, the decision-makers at the bank and its parent company FBNHoldings, now First HoldCo Plc, had to be clear-minded about who could become the new Chief Executive Officer of FirstBank Group.
Equally important as the need for continuity was the non-negotiable requirement for capacity to manage the ship of the 130-years-plus institution to sustain its enviable legacies and consolidate the gains made in recent years. The search was for someone with a steady head and hands (talk of risk control and mitigation), in addition to an excellent track record of sterling performance and achievements.
Fortunately, fate was on their side. They did not have to look outside. Right there before them was someone who understood all kinds of risks and how to control and mitigate them. He had been with FirstBank since 2016 when he joined as Group Executive / Chief Risk Officer. Then in January 2022 he was elevated to Executive Director / Chief Risk Officer and Executive Compliance Officer.
This man has given nearly three decades of his working life to the banking and financial services industry. He has under his belt a rich tapestry of cross-functional experience in credit risk management, financial planning and control, credit and marketing, and trade. His cross-functional exposure also includes corporate and commercial banking, agriculture financing, oil and gas, transportation, including aviation and shipping, and project financing
Meet Olusegun Alebiosu, the man history had prepared and the one decision-makers chose among the quality options. He was appointed substantive Chief Executive Officer of FirstBank Group in June 2024, having acted in that capacity since April 2024 when the former CEO left.
Determined to build on the bank’s legacies while navigating the ever-changing landscape of the financial services industry, Alebiosu has shown unwavering commitment to lead the bank through a transformative period that places emphasis on strategic consolidation, technological advancement and market expansion.
Alebiosu’s approach to sustaining the legacies of firsts at FirstBank, which has been at the vanguard of accelerating Nigeria’s digital payments as the first bank to issue over 13 million cards to customers, draws from his vast professional experience which began with Oceanic Bank Plc, now Ecobank Plc, in 1991. Between then and joining FirstBank in 2016, he had worked at Coronation Merchant Bank as Chief Risk Officer, at African Development Bank Group as Chief Credit Risk Officer and at United Bank for Africa as Group Head, Credit Policy and Deputy Chief Credit Risk Officer.
Under one year of his appointment as substantive CEO of FirstBank, Alebiosu’s strategic consolidation efforts have demonstrated that he is a worthy successor, not an ill-prepared or unprepared one, proving the decision-makers right. Understanding the critical role of its human capital in sustaining the bank’s legacies, Alebiosu has invested himself and the bank’s resources in promoting staff welfare.
A comprehensive review of the bank’s compensation structure was undertaken to position it within the 75th percentile of the industry, making the bank more retentive of, and attractive to, the best talents. The highest number of staff promotions across various grades in the last five years has happened under Alebiosu’s watch, with 1,654 employees being elevated in one single promotion cycle.
Under his leadership, over 2,186 new hires have been recruited across key functions and subsidiaries, with a large number of them deployed to the sales function to ensure that retail customers are adequately served. Staff are now more engaged based on the high employee engagement score of 86% achieved in the April 2025 WorkBuzz survey, indicating remarkable progress in the bank’s multi-pronged efforts to promote a positive and inclusive workplace culture.
This drive to reinforce a culture of inclusion and recognition has been accentuated by the launch of a group-wide culture transformation initiative with the goal of embedding the core values of integrity, excellence and innovation. It has also been strengthened by a renewed focus on inclusion, collaboration and high performance. Also contributing was the staging of a FirstBank Employee Appreciation Day 2025 featuring, among others, a personalised appreciation video message from the CEO to all employees across the group throughout Africa and beyond. The inclusion message is further boosted by the launch of the inaugural edition of the bank’s pioneering initiative, Mandarin Language School, to bolster the bank’s expansion in the Asian market.
Expansion is a critical plank in FirstBank’s new strategic planning horizon, under Alebiosu’s leadership. Taking off this 2025, the plan seeks to reinforce the bank’s market dominance across all operational regions and it includes deliberate expansion into new markets within and outside Africa.
Beyond geographical and horizontal expansion, Alebiosu’s plan has also targeted a skyward expansion. Or how else does one describe the groundbreaking ceremony in March 2025 for the bank’s new green-certified, 44-storey iconic head office building in Eko Atlantic City, Lagos State?
Alebiosu is also prioritising the acceleration of process automation in recognition of the importance of digital transformation. It is a massive push for technological advancement that includes adopting robotics technology and artificial intelligence at scale, to give the bank an unassailable competitive advantage among its peers in the industry.
The bank has deployed digital tools to enhance seamless account opening and optimised backend systems and customer service delivery. Two additional Digital Experience Centres (DXCs) have been launched – one at Lekki Admiralty Way, Lagos State and the other at its UNN branch, Nsukka, Enugu State. Also, the bank’s agent network has expanded to over 280,000, a 50,000 increase from the 230,000 agents it had in 2023.
As expected, shareholders, among other stakeholders, have been observing the strides the bank has been making under Alebiosu’s leadership, with a keen eye on the numbers. Fortunately, again, the bank’s results for the financial year ended December 2024 speak volumes, with after-tax profit of its parent company rising to the highest point it has reached in the last 12 years, according to the company’s latest financial statement.
In recognition of his achievements within such a short period and his exemplary leadership, Alebiosu was honoured at the World Business Outlook Awards as “Banking CEO of the Year – Nigeria 2025”. He has also been honoured with the “Special African Banking Leadership Award” by African Leadership Magazine. This was in 2024.
The story of Alebiosu’s leadership at FirstBank has clearly been one of preparedness meeting legacy. Working with the board and management team, he has consistently sustained the bank’s legacies and also consolidated its recent gains in ways that will ensure the gains keep compounding. FirstBank, more than ever before, is poised for greater intra- and intercontinental growth and impact in the years ahead.
South Africa’s competition authority announced Wednesday it had approved the buyout of Africa’s largest pay TV enterprise MultiChoice by France’s Canal+, which wants to expand its footprint on the continent.
The merger, which has been in the works for nearly a year, needs the final go-ahead from the commission’s Competition Tribunal, it said in a statement.
Canal+ holds around 45 percent of MultiChoice’s shares and offered last year to acquire the remainder for 125 rand (6.16 euro) per share.
Canal+ is present in 25 African countries through 16 subsidiaries and has eight million subscribers, according to the French group.
MultiChoice operates in 50 countries across sub-Saharan Africa and has 19.3 million subscribers, it said.
It includes Africa’s premier sports broadcaster, SuperSport, and the DStv satellite television service.
“This is a major step forward in our ambition to create a global media and entertainment company with Africa at its heart,” Canal+ CEO Maxime Saada said in a statement.
The commission said its approval of the merger was subject to public-interest conditions worth about 26 billion rand over three years, including increasing the shareholding of people disadvantaged under South Africa’s white-minority apartheid regime.
It will also maintain the MultiChoice headquarters in South Africa.
A date for the Tribunal’s decision on the merger has not been announced but Canal+ said it was aiming for the deal to be completed by early October.
Toll Collection on Lagos-Calabar Highway Begins December
NGX Clears Fidelity Bank MD of Insider Trading Allegations
CBN Introduces AML to Fight Financial Terrorism, Gives Banks Deadline
Peter Obi Denies Secret Meeting with Tinubu over Fidelity Bank
Luft Pay TV Launches in Lagos, Promises to Revolutionize Entertainment
E-Financial3 days agoCBN Introduces AML to Fight Financial Terrorism, Gives Banks Deadline
Telecom3 days agoCelebrating African Creativity: Made by Africa, Loved by the World’ Returns for Its Fifth Year
E-Financial3 days agoPeter Obi Denies Secret Meeting with Tinubu over Fidelity Bank
Broadcasting3 days agoLuft Pay TV Launches in Lagos, Promises to Revolutionize Entertainment
General News3 days agoOver 250,000 Cyberattacks Disguised as Anime – Report
E-Financial3 days agoPremiumTrust Bank Reassures Customers of Continued Security after Cyberattack Foil
E-Financial3 days agoFidelity Bank’s N10.5tr assets base reinforces stakeholders’ confidence -Insiders bid for more equity stakes
E-Business3 days agoINEC Sets Up AI Division to Strengthen Electoral System