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Senate Mulls Probe of Etisalat Nigeria Loans

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The senate plans to vote on a motion to investigate the use of $1.2 billion in loans taken out by telecoms firm Etisalat Nigeria, now called 9mobile.

 

The motion if passed would mandate a Senate committee on banking and national security to handle the investigation, which it says would seek to forestall the impact of the debt crisis on foreign investment and hold defaulting parties liable.

 

According to the lawmakers, the investigation would seek to forestall the impact of the debt crisis on foreign investment and hold defaulting parties liable.

 

The resolutions of the senate followed a motion entitled ‘The need for senate’s intervention in recent Etisalat Nigeria $1.2 billion debt crisis’ sponsored by Adeola Olamilekan, senator representing Lagos west.

 

While moving the motion on the floor of the senate on Wednesday, Olamilekan noted that loan was acquired in 2013 as medium-term with a seven-year facility to fund expansion of the network from a consortium of 13 banks.

 

The senator said in 2016, the company started defaulting on its $1.2 billion loan obligations to which bailouts were given to it from its parent company in Abu Dhabi.

 

“Only about 42 percent of the loan has been repaid, remaining an outstanding debt of $696 million representing 58 percent of its capital, which Etisalat has failed to service since 2016,” he said.

 

“Since this year, the banks have been moving to take over the telecommunications company in order to recover their funds.

 

“The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have intervened and raised issues of regulatory compliances in trying to prevent a takeover by the banks, but the intervention has failed to produce an agreement on the debt restructuring

 

“All UAE shareholders of Etisalat Nigeria, including state-owned investment fund Mubadala had exited the company coupled with the resignation of top key management officers of the company the chief executive officer Mr. Matthew Willsher, chief financial officer Mr. Wole Obasunloye, director and the third Shareholder/Partner Mr. Hakeem Belo Osagie.”

 

The legislator said if the situation is not handled, it would have negative on foreign investments in the country.

 

“Although it should ordinarily not be the duty of the senate of the federal republic of Nigeria to wade into individual debt crisis of private sector businesses but the senate is convinced that if this situation is not properly handled, it will have negative implications for the Nigerian business environment and on foreign investments in Nigeria,” Olamilekan said.

 

While about 4000 jobs are at stake as a result of “these suspicious dealings,” the senator said the loan of this magnitude has the capacity of setting off another banking crisis in the country.

 

“The decision of the core investors to pull out of Nigeria raises issues of suspicion,” he said.

 

“Allegations that the loans have been diverted to other uses not related to the business for which the huge loan was obtained, as there was no evidence of what the company did with the loans.”

 

The upper legislative chamber adopted the motion when it was put to a voice vote by Senate President Bukola Saraki.

 

There are reports that some 16 firms have submitted their expressions of interest to take over the company including Africa’s largest telco MTN, Ntel and privately held BUA group.a Senate order paper seen by Reuters showed on Tuesday.

 

 

 

 

 

 

 

 

 


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NCC Orders Telcos Inform Subscribers of Data Breach within 48 Hours

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Nigerian Communications Commission (NCC) has directed telecom operators in the country to notify affected customers of any data breach within 48 hours ( that is two day) of detecting such unauthorised infringement.

NCC Orders Telcos Inform Subscribers of Data Breach within 48 Hours

This directive was  contained in the revised Internet Code of Practice 2026 by the NCC, on Friday.

The document seeks to define the rights and obligations of telecom operators in handing the rights of internet users to an open internet.

In the move to protect customer information, Mobile Network Operators (MNOs) and Internet Service Providers (ISPs) are to take necessary measures to protect customers’ data from unauthorised use, disclosure, access or breach.

Telecom operators must now notify affected customers within 48 hours of detecting a compromise through text message, email or any other effective means. As contained in Chapter 3.4 of the regulation titled “Data Breach Notifications,”

The telecoms companies are also directed to notify the NCC of such a breach not later than 48 hours after determining such a breach.

Where full details of the breach are not immediately available, the provider shall issue a preliminary notification within the same period and furnish a comprehensive update within Fourteen (14) days thereafter, or within such extended period as the Commission may approve,” part of the section reads.

The guidelines, according to NCC, are in tandem with the provisions contained in the Nigerian Data Protection Act 2023 and Part VI of Schedule 1 of the Consumer Code of Practice Regulations 2024.

The regulation also joins other agencies’ policies, ensuring protection. Agencies such as the Nigeria Data Protection Commission (NDPC) and the Federal Competition and Consumer Protection Commission (FCCPC) protect consumers against misuse of personal data, identity theft, financial loss, and reputation damage.

The review comes at a time when privacy becomes core amid frequent breaches and illegal harvest of data such as biometric, national IDs, financial information, traffic and usage, and others.

Regulations are necessary for the proper handling, consent, and regulatory compliance regarding sensitive data, ensuring it is only processed for legitimate purposes.

Under Chapter 3.5, the Internet Code of Practice 2026 addressed the handling of harvesting of transactional data by notifying and getting approval from the NCC of any usage by a third party. It noted that the NCC approval will be defined by a review and assessment of such access and “its potential effects on national considerations, consumer information and personal data.”


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Globacom Promotes Valentine Gifting with Huge Discounts on Smartphones

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Globacom has announced a Valentine Smartphone promotion, which provides incredible savings on a variety of high-end smartphones from top manufacturers including Tecno, Samsung, and Infinix.

Starting on February 9, the promotion provides substantial price reductions on a number of Samsung models, including the Galaxy Z Fold 7, Galaxy A07, Galaxy A56 5G, Galaxy A36 5G, and Galaxy A26 5G. Customers who buy any of the phones will also receive a complimentary travel pouch and charger, as well as up to 18GB of extra data for six months, only available on the Glo network.

Along with other Infinix models, Tecno devices are also offered at attractive discounts, giving customers a large range of smartphones to fit a variety of tastes and price ranges.

The goal of the Glo Valentine promotion is to provide customers with the best possible deals on carefully chosen smartphones that are renowned for their cutting-edge technology, stylish designs, and dependable performance. The offer, which includes alternatives to suit a range of budgets and lifestyles, reaffirms Globacom’s dedication to customer happiness, digital adoption, greater data usage, and client centricity.

The company revealed that the promotion aligned with customers’ expectations during celebratory seasons, when demand is highest for quality smartphones at affordable prices. The company added that its partnership with trusted global and regional brands such as Samsung, Infinix, and Tecno ensures that customers enjoy premium features without compromising on value.

“The Valentine season is about connection, and what better way to stay connected than with a smartphone that fits your needs and aspirations,” the company stated. “This promo gives our customers the chance to get their dream smartphones at some of the best prices of the year, along with generous data bonuses to keep them connected,” the company disclosed.

Customers are encouraged to visit Gloworld outlets nationwide to take advantage of the Valentine Smartphone Promo while stocks last.

 


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GBB Expands Broadband to 13 Underserved Communities In 2025

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Galaxy Backbone Limited (GBB) has recorded a significant milestone in Nigeria’s digital transformation journey by advancing broadband connectivity to 13 underserved institutions and communities nationwide in 2025, reinforcing its position as the nation’s digital backbone and a trusted partner in national development.

Guided by its mandate to enable a digitally inclusive Nigeria, GBB deliberately extended connectivity to locations within reach of its infrastructure footprint, particularly institutions with strong potential for productive use but limited readiness for immediate commercial engagement. Through this effort, the organisation continues to unlock opportunity, stimulate innovation, and support sustainable growth across critical sectors of the economy.

The expansion reached three Federal Universities, two Local Government Areas, and eight Federal Secretariats, strengthening digital capabilities in education and public administration while enhancing service delivery across the country.

GBB also extended reliable broadband connectivity to strategic and cultural landmarks such as the Nnamdi Azikiwe International Airport, Abuja, underscoring its commitment to supporting national infrastructure that drives economic activity, mobility, and global connectivity.

These deployments highlight Galaxy Backbone’s resolve to bridge the digital divide and empower institutions that shape Nigeria’s future. They demonstrate the measurable national impact of GBB’s infrastructure investments and reflect the tangible progress of the Integrated Digital Transformation Strategy (IDTS), further solidifying the organisation’s role as the platform upon which government institutions and communities can confidently build their digital future.

More importantly, the milestone illustrates that GBB’s work extends beyond technology by enabling education, improving governance, supporting economic participation, and connecting citizens to opportunity.

The initiative aligns with the Federal Government’s broadband penetration objectives and complements national programmes such as Project 774 – Universities’ Hostel Connectivity, ensuring coordinated, scalable, and sustainable impact across the country. Commenting on the achievement, Galaxy Backbone noted that every new connection brings Nigeria closer to a more inclusive digital economy while reinforcing the infrastructure required for innovation and national competitiveness.

As implementation continues, GBB remains committed to expanding access, pushing boundaries, and delivering on the promise of a fully digital nation, with further updates expected as additional phases of the deployment progress.

Galaxy Backbone Limited is the Federal Government’s digital infrastructure and shared services provider, dedicated to delivering secure, reliable, and scalable ICT solutions that support efficient governance, innovation, and sustainable national development.

 


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