Connect with us

Telecom

Senate Hires Experts to Probe MTN, Buhari’s Minister, Others

Published

on

MTN logop.jpg
Kindly share this post

he Senate has employed the services of international forensic experts in the on-going probe of MTN and others accused of violating the nation’s Foreign Exchange Monetary and Miscellaneous Act.

The hired international forensic experts made up of lawyers, accountants and others are to assist in the comprehensive investigation of the alleged repatriation of $13.9 billion by MTN.

Rafiu Ibrahim, chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, disclosed this to journalists at the National Assembly complex, Abuja, yesterday. Ibrahim said that the experts had already arrived Nigeria and had commenced work with other local forensic experts to unravel possible hidden details from the documents that had been submitted by those facing investigation.

He said: “The Senate sees this as very important; it is a weighty allegation and we are going to deal with a lot of documents spanning 16 years. Based on that, we got the approval of the leadership of the Senate and we have engaged international and local forensic experts, accountants and lawyers.

“The team has been fully assembled and they have started working: this is not going to be a normal periphery investigation because it involves a lot of documents. “We will be starting the investigative hearing tomorrow, we will listen to each of them and we will take it from there,” he said.

The committee chairman stated that a lot of private individuals and government agencies had been invited to brief it today, noting that some of those invited had submitted requested documents and indicated willingness to be at the hearing.

“MTN has submitted and they promised to attend. Diamond Bank has submitted, Standard Chartered Bank has submitted and they promised to attend. Stanbic has submitted and they promised to attend. “Mallam Ahmed Dasuki has no submission yet, Col. Sani Bello, no submission, but we are expecting them tomorrow.

Other names that will appear are Gbenga Oyebode and Dr. Victor Odili,” he said. Others expected to appear before the committee are Minister of Industries, Trade and Investment, Okechukwu Enelamah; former Chairman of Diamond Bank, Dr. Paschal Dozie, and the Financial Reporting Council of Nigeria. Senator Dino Melaye, who blew the whistle on the alleged repatriation, expressed satisfaction with the level of attention given to the allegation. He said: “I am particularly excited that the Senate has engaged forensic auditors who also double as lawyers and who have already commenced work.

I can tell you that even preliminary investigations have revealed that the $13.9 billion is far lower than what the outcome will look like. We have realised from these preliminary investigations that it is actually outrageously higher than the $13.9 billion.”

Meanwhile, Enelamah, in a letter to the committee, denied any involvement in the alleged fraudulent repatriation of funds. In the letter HMITI/ GEN.CORR./VOL.1/, dated October 7, Enelamah said he had neither had any engagement with the MTN nor earned dividends.

“I was never owner of Celtelecom Investment Limited or a shareholder in Celtelecom as recorded on pages 402 and 403 of the Votes and Proceedings of the Senate of Tuesday, September 27.“Between 1998 and 2015, I served as the Chief Executive Officer of Capital Alliance, a wholly owned subsidiary of African Capital Alliance (ACA), an investment company. “Two funds managed by ACA together with some individuals and entities invested in MTN with Celtelecom as the investment vehicle.

“I served as a director in Celtelecom representing the ACA management fund. I have never claimed that I invested in MTN; neither did I obtain a Certificate of Capital Importation on 7th February, 2008,” he said. The minister informed the committee that, according to standard business practice, investors did not have responsibility for the remittance of proceeds from the company they invested in. Accordingly, he said, “so, at no time was I ever in position to transfer funds out of Nigeria on behalf of MTN.”

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

Telecom

Google Rolls Out Search Live AI to 200+ Countries, Including Nigeria

Published

on

Kindly share this post

Google has launched its Search Live feature globally to over 200 countries, including Nigeria, where AI Mode is available, enabling voice-and-camera conversations in users’ preferred languages.

Google Rolls Out Search Live AI to 200+ Countries, Including Nigeria

Google

Powered by the new multilingual Gemini 3.1 Flash Live model, it delivers natural, real-time interactions via the Google app on Android or iOS—tap the Live icon under the Search bar.

Ideal for hands-free help, users can speak queries for audio replies, follow-ups, or web links. Camera integration adds visual context, like troubleshooting a shelving unit, or pairs with Google Lens for real-world chats.

From the app or Lens, Nigerians can now explore, learn, or solve tasks instantly, boosting everyday productivity worldwide.


Kindly share this post
Continue Reading

Telecom

IFC Invests $45m to Green African Telecom Sites

Published

on

Kindly share this post

Clean and reliable power for telecom networks in Ethiopia, Liberia, and Sierra Leone will be expanded following a $45 million investment by the International Finance Corporation (IFC) in IPT PowerTech.

The investment targets countries where limited power supply continues to slow digital connectivity and broader economic participation, the institution stated earlier this week.

To enable this expansion, the IFC is providing a $45 million corporate financing package consisting of an A-loan of $27 million and $18 million in blended finance.

The blended portion is sourced from the Canada-IFC Blended Climate Finance Programme and the IDA20 Private Sector Window Blended Finance Facility.

The initiative marks the IFC’s first direct infrastructure engagement in Liberia in a decade and in Sierra Leone in six years.

It will help scale solar- and battery-based power systems that reduce reliance on diesel and support greener, more resilient telecom networks.

By improving the quality and stability of power to telecom towers, the initiative will strengthen mobile coverage and ensure that households, schools, health centres, and small businesses can depend on consistent digital services, said the IFC.

The funding supports the modernisation, operation, and maintenance of 2 235 telecom sites across the three nations. More than 90% of these are located in off-grid or weak-grid locations.

With new solar and battery systems powering these sites, mobile networks will experience fewer outages and improved service quality.

Optimising the energy mix is estimated to reduce power costs for operators by up to 30% in Liberia, 26% in Sierra Leone, and 52% in Ethiopia.

This transition is also expected to cut emissions by more than 10 624 tonnes of carbon dioxide annually. Furthermore, the partnership will promote gender inclusion by expanding opportunities for women in technical, operational, and leadership roles within the sector, says the IFC.

This agreement reflects a shared vision for a greener telecom industry and empowers the company to scale its innovative energy platforms, according to Nabil Haddad, CEO of IPT PowerTech Group.

Reliable and affordable power for telecom networks is a cornerstone of Africa’s digital transformation, said Nathalie Kouassi-Akon, IFC regional director for West Africa and the Gulf of Guinea.

Through this partnership, the institution is supporting a scalable, private sector-led solution that enables mobile operators to reach underserved and fragile communities more sustainably, added Kouassi-Akon.

The project advances the World Bank Group and African Development Bank’s Mission 300 initiative, which aims to provide electricity to 300 million Africans by 2030.


Kindly share this post
Continue Reading

Telecom

Expedier Launches Platform to Ease Cross-Border Payments for African Firms

Published

on

Kindly share this post

Expedier has unveiled “Expedier for Business,” an online pro-banking platform to simplify global payments, multi-currency transactions, and financial operations for expanding companies.

Expedier Launches Platform to Ease Cross-Border Payments for African Firms

Kingsley Madu

The tool centralizes payments, invoicing, payroll, and treasury into one secure dashboard, tackling challenges like fragmented systems and poor visibility that hinder international scaling.

Kingsley Madu, Co-Founder and CEO of Expedier, said: “African businesses are increasingly global… Expedier for Business was built to simplify how companies manage money across borders while maintaining visibility, control, and compliance.”

Key features include customizable dashboards for payments, invoices, and workflows; support for USD, CAD, GBP, EUR, and more; virtual cards; automated payroll/invoicing; currency swaps; and real-time tracking.

Security measures cover two-factor authentication, KYC/KYB verification, and team access controls.

As cross-border trade and remote work boom in Africa, the platform aids firms dealing with international suppliers, teams, and customers. It is now available for organizations scaling globally.


Kindly share this post
Continue Reading

Trending