Telecom
O&O Network Appeals Court Order to Deposit N22.5Bn for Airtel Shares
O&O Network has filed a notice of appeal against the ruling of the Federal high court ordering it to deposit N22.5 billion with the chief registrar of the court pending the determination of the substantive suit.
Mojisola Olatoregun, presiding judge, stated that the sanctity of the court must be protected. She ordered further that the money should be kept in an interest yielding account in a commercial bank at the Central Bank of Nigeria interest rate.
Justice Olatoregun later adjourned till 29 May, 2019 for hearing of the substantive suit.
The $28,728,125 suit was jointly instituted by a Nigerian Industrial mogul Oba Otudeko and his company, Broad communications Limited against a cellular mobile telecommunications company, Airtel Networks Limited (formerly known as Econet Wireless Nigeria Limited )and 9 others.
The order of the court was sequel to an application filed before the court by the plaintiffs, Oba Otudeko and his company, Broad Communications Limited, urging the court to direct one of the defendants, O&O Network Limited to deposit the sum of N22.5 billion being the sum of a purported transfer of 16,002,404 shares of Airtel, into an interest yielding account in the name of the Chief Registrar of the Federal High Court to be domicile at Zenith Bank or First Bank pending the determination of the instant suit by the court.
Joined as co -defendants in the suit filed before a Federal high court in Lagos south west Nigeria are: a promoter of Airtel Jubril Adewale Tinubu, with 9,906,250 shares being 9.9% voting capital, O&0 Networks limited, Delta ministry of Finance Incorporated, Delta State Government, Corporate Affairs Commission, Econet wireless Limited, Econet Development Corporation,Ecobank Nigeria limited, Ecobank Transnational Incorporated.
The plaintiffs alleged that by order of the court issued on the 5th of February, 2015 the court mandated parties to maintain status quo in respect of shares held in Airtel Network Limited.
However notwithstanding the orders made by the court, O&O Network entered into arrangement for the sale and transfer of shares in Airtel Network limited to Bharti Airtel Nigeria BV. for the sum of N22.5billion.
The transfer of the shares to Bharti Airtel Nigeria BV, was alleged to be in violation of the order of the court.
According to an amended statement of claim filed on behalf of Oba Otudeko and Broad communications Limited by Chief Wole Olanipekun SAN, OFR, the plaintiffs alleged that sometime in 2011, Ecobank Transnational Incorporated acquired the defunct Oceanic bank Plc with all its liabilities and assets which at the time of acquisition included the 3rd defendant O&0 Network limited.
Prior to the acquisition of Oceanic bank the plaintiffs became aware that the 4th defendant, Delta State ministry of Finance incorporated and the 5th defendant Delta State Government purportedly transfer their beneficial ownership in the shares of the O&0 Network Limited back to 2nd defendant, Jubril Adewale Tinubu who subsequently purported to have transferred the shares to Oceanic bank Plc as part of a process of securitization and foreclosure arising from loans advanced to him by Oceanic bank.
The plaintiffs stated further that in the course of promoting Airtel, it was a fundamental term that in order to facilitate financing arrangements, Nigerian individual shareholders would take their shares in their own names or by the agency of their respective nominee vehicles. By this agreement Oba Otudeko was to hold directly or indirectly, 15% of the ordinary shares and Jubril Adewale Tinubu was to hold directly or indirectly about 10% of the ordinary shares of the company.
Further to the above arrangement and as preliminary step toward the acquisition of 40% equity stake in Airtel, Oba Otudeko and Adewale Tinubu through a special purpose corporate vehicle called First Independent Network limited FINL, executed a settlement agreement dated 11 June 2001,with Econet International Limited.
It was also selected fundamental term of the agreement that Nigerians would hold 40% of the ordinary shares and that Econet Wireless International EWI, being the original technical partner would hold 40%,while 20% was reserved for Transtel -a South African company.
Oba Otudeko took 13,035,936 shares in the name of Broad communication and 187,500 in his own name while Adewale Tinubu took 9,906,250 shares in the name of Ocean &Oil services and later transferred same to O&0 Network .
The shareholders agreement confers on the shareholders a’ ‘right of first refusal’ in relation to the disposal of shares or interest therein by any conceivable means;and outline procedures to be followed for giving notice of intention to dispose and further mechanism for dealing with such shares.
The plaintiffs alleged further that sometime in 2005, without any formal or informal notice they became aware that in 2001 and 2003, Jubril Adewale Tinubu acting as the alter ego of O&0 Network reached secret agreements to transfer all the company’s share in Airtel to Delta State ministry of Finance incorporated and Delta State Government for a premium.
The 9,906,250 ordinary shares of the O&0 Network sold, in breach of the plaintiffs pre -emptive right was valued at $4.50 thereby amounting to $44,578,125.
The transaction was deliberately concealed from the plaintiffs and other shareholders with Adewale Tinubu continuing to represent that he represented himself rather than the Delta State ministry of finance incorporated and Delta State Government on the board of Directors of Airtel.
The plaintiffs averred that Adewale Tinubu and one David Edevbie, the then commissioner for Finance and Economic Planning in Delta State made statements to the Economic and Financial Crimes Commission EFCC in or about August-November 2004 admitting that the respective transactions entered into between them had the sole objective of dealing in the shares of Airtel contrary to the agreement and the understandings binding parties and other shareholders in the Airtel company.
On 11th of March, 2013,the plaintiffs divested their interest in the Aitel Company.
The value of the 9,906,250 ordinary shares sold by Adewale Tinubu and O&0 Network to Delta State ministry of finance incorporated and Delta State Government in breach of the Plaintiffs pre -emptive rights had appreciated in value from $4.5 per share to $7.4 per share as at the time the plaintiffs divested their interest in the Airtel company amounting to $73,306,250, consequently the differential in the value of the shares when the plaintiffs divested their interest amounts to $28,728,125.
The plaintiffs claim against the defendants jointly and severally are as follows:
An order mandating the defendants to pay the Plaintiffs the sum of $28,728,125 being the interest /profit accrued on the 9,906,250, ordinary shares sold in breach of the plaintiffs pre -emptive rights in the Airtel Company.
Interest on same at the rate of 23% per annum from 15th July, 2003 till judgement is delivered.
Cost of this legal action assessed at N100 million.
However, In an affidavit in support of statement of defence sworn to by Airtel legal officer Kingsley Anyiam, filed on behalf of Airtel by a Lagos lawyer, Barrister C. A.Candide-Johnson SAN, the deponent averred that Airtel was not privy to the facts that led up to the dispute, as relayed by the Plaintiffs in their statement of claim.
In addition Airtel is not a party to the shareholders agreement which forms the crux of this dispute, as the shareholders agreement was entered strictly among the shareholders of Airtel as at the relevant time of this suit.
Consequently the Plaintiffs statement of claim do not have any adverse reliefs against Airtel. Therefore, Airtel need not be party to this suit in order to comply with any lawful order of the court.
In the rapidly evolving landscape of African technology, few figures bridge the gap between high-level research and grassroots digital execution as effectively as Nnaemeka Ani.
Nnaemeka Ani
As the Founder of MGX Research Center and the visionary behind MexyGabriel, Ani has emerged as a leading protagonist in the narrative of Nigeria’s technological self-reliance.
The Visionary: Founding MGX Research
At the heart of Ani’s philosophy is MGX Research, a center dedicated to “first-principles thinking.” Under his leadership, the center has become a beacon for data-driven innovation, moving beyond the “hype” of the tech world to focus on persistent, localized solutions.
Through MGX Research Center, he is building a multidisciplinary ecosystem that cuts across artificial intelligence, data science, cybersecurity, smart cities, digital identity, e-governance, EdTech, HealthTech, robotics, and automation
Ani’s mantra – “Africa’s rise begins with its own innovation” – is not just a slogan; it is a call to arms for African builders to stop seeking international validation and start authoring their own digital destiny.
As Founder and CEO of MexyGabriel Tech Company, Nnaemeka has driven multiple large-scale technology projects across Nigeria, focusing on digital infrastructure, enterprise solutions, identity and payment platforms, and youth-centered innovation programs. MGX Research Center functions as the research and development arm of this broader ecosystem, providing the thinking laboratory, prototypes, and strategic insights that inform products, policies, and investment decisions.
Nnaemeka is passionate about youth empowerment, innovation, and Africa’s digital future. His work through MGX Research Center aims to position Nigeria not just as a consumer of technology but as a creator of solutions, producing world-class research, thought leadership, and practical tools that can be deployed across states, universities, and private organizations.
He frequently collaborates with universities, government ministries, tech hubs, and global partners, championing a model where research is not locked up in theory but translated into deployable systems, smart policies, and scalable ventures.
Ani has demonstrated a unique ability to turn complex code into commercial and social value. His work has focused on:
- Infrastructure for Good: Developing platforms that bridge the divide between urban tech hubs and rural communities.
- Sovereign Technology: Championing the idea that African data should be managed by African-built systems.
The Public Servant: Digitizing Enugu State
Ani’s influence extends into the corridors of power. Serving as the Special Adviser to the Enugu State Governor on ICT, he has been instrumental in transforming the state into a burgeoning digital ecosystem.
His work in Enugu serves as a blueprint for “Governance-Tech Synergy,” proving that when political will meets technical expertise, public service delivery can be revolutionized.
“We are no longer just ’emerging’; we are competing. Africa will rise by code, by courage, and by us,” said Nnaemeka Ani.
Quick Facts: Nnaemeka Ani
Category | Detail |
Current Roles | Founder, MGX Research; Founder, MexyGabriel; SA on ICT to Enugu State Governor. |
Core Philosophy | “First-Principles Thinking” – Breaking problems down to their core truths. |
Key Advocacy | Digital Sovereignty, Sovereign AI, and localized STEM education. |
Notable Mantra | “By Code and By Courage.” |
Why He Matters in 2026
As Nigeria enters a transformative year marked by the January 1, 2026 Tax Reforms and the push toward 70% Broadband Penetration, Ani represents the “New Guard” of leadership. He is one of the few voices consistently advocating for the Tripod Method, balancing technology, local policing, and traditional authority, to ensure that Nigeria’s digital growth is matched by national security.
Nnaemeka Ani is not just as a “tech guy,” but as a Strategic Reformer. He is a “Leader to Watch” because he understands that for technology to thrive in Nigeria, it must be supported by sound policy and cultural relevance.
MTN Nigeria has hosted the Prestige Experience, a refined evening of culture, connection and celebration, as part of its ongoing Y’ellotide initiative marking the Yuletide season.
MTN Nigeria
The event, held on Friday at The Royal Box, Victoria Island, Lagos, brought together customers, partners, stakeholders, and dignitaries in an atmosphere of appreciation and festivity.
The Prestige Experience showcased Nigerian creativity and elegance through a curated blend of fine dining, fashion, and music. Guests were treated to Michelin-inspired cuisine prepared by renowned Chef Stone, fashion showcases highlighting African heritage, and soulful performances by acclaimed singer Asa.
The evening was anchored by popular hosts Ebuka Obi-Uchendu and Michelle Dede, with comedic interludes from veteran comedian Alibaba.
Speaking at the event, Dr Ernest Ndukwe (OFR), Chairman of MTN Nigeria, described the gathering as an expression of gratitude and partnership. He said the Prestige Experience reflected MTN’s appreciation for the trust Nigerians continue to place in the brand.
“The MTN Prestige Experience is a cornerstone of our commitment to you, our valued partners. Your trust and continued patronage are the bedrock of our success, and this gathering reflects our appreciation for that trust.
“We are not just a service provider but are committed to being a trusted partner in Nigeria’s progress,” Ndukwe said.
In his remarks, Dr Karl Toriola, Chief Executive Officer of MTN Nigeria, emphasised the importance of genuine connection during the festive season.
“We recognise the immense value of the relationships we have built together, and we are committed to ensuring that your experience remains unparalleled.
“You are essential partners in our journey, and we look forward to many more years of shared success and collaboration,” Toriola said.
Distinguished guests at the event included members of MTN’s Board and Executive Management, industry leaders, government officials, members of the diplomatic community, and representatives from the creative sector, reflecting the diversity and richness of the MTN ecosystem.
The Prestige Experience forms part of MTN’s broader Y’ellotide celebrations, which reaffirm the company’s belief that meaningful connections and shared experiences remain central to its relationship with Nigerians.
Google has unveiled a new feature that allows Gmail users to change their existing email addresses without losing data or access to services, marking a major shift in the company’s long-standing policy.
Gmail
According to an update on Google’s account help page, the new option enables account holders to replace their current @gmail.com address with a new one while retaining all associated data, including emails, photos, and integrations with services such as Google Drive, Maps, and YouTube.
The guidance, however, was first spotted on the Hindi version of Google’s support page, suggesting that the rollout may begin in India or Hindi-speaking markets before expanding globally.
The English-language support page still carries the older advisory that Gmail addresses “usually cannot be changed.”
Google explained that under the new policy, users who update their Gmail address will automatically keep their original address as an alias.
This means emails sent to the old address will continue to arrive in the inbox, and the original address will remain valid for signing in to Google services.
Previously, users seeking a new Gmail address had to create an entirely new account and manually transfer their data, a process that often disrupted third-party app integrations. The new feature eliminates that inconvenience, ensuring continuity for users.
The company further clarified that while users can reuse their old Gmail address at any time, accounts that change their address will face certain restrictions.
These include a 12-month waiting period before another new Gmail address can be created, and the inability to delete the newly chosen address once it has been set.
Google assured users that all existing data would remain intact after an address update, including stored photos, messages, and emails.
The gradual rollout of the feature indicates that full global adoption is expected in the coming months, a move likely to be welcomed by millions of users who have long requested the ability to update their Gmail identities without starting afresh.
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