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Why We Arranged $100m Deal for MainOne- Standard Chartered

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Funke Opeke is Chief Executive Officer and Founder of MainOne
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Standard Chartered Bank Nigeria’s quest for strong business growth and its believe to ensure a turning point for domestic growth and development of the local economy, was behind its lead arrangement for the $100 million facility for MainOne Cable Limited.

Bola Adesola, managing director/chief executive officer of the wholly owned subsidiary of Standard Chartered Bank Plc, United Kingdom,, said that the financial institution was proud to invest in MainOne Cable as the company was one of the largest telecommunications operations in West Africa.

The deal is targeted at refinancing MainOne Cable’s existing debt and financing its ongoing capital expenditure for the company’s network expansion and ancillary services.

“We believe this is a turning point for domestic growth and development in our local economy. Our established footprint in Asia, Africa, and the Middle East, along with our long history of supporting trade flows to and from these regions, position us well to provide vital funding to growing companies in growing economies,” Adesola said.

Also, Remi Oni, head of Client Coverage at Standard Chartered Nigeria, said: “Standard Chartered is very pleased about the opportunity to arrange this financing in conjunction with other banks.

“MainOone has built a strong brand ubiquitous with reliable, high quality and professional service. The financing is a testament of our commitment to be here for good.”

For the bank, this is a landmark transaction, marking its first submarine cable financing in the country.

However, Funke Opeke, chief executive officer of MainOne Cable explained that the implementation of the agreement with bank and others, will enable MainOne expand its services across Nigeria and West Africa.

She stated that key to MainOne’s growth strategy and vision is to ensure that it continues to deploy infrastructure required to make its services available and affordable to institutional customers across its markets.

Specifically, the company is currently building a tier-three data centre and deploying an extensive fibre-optic network around Lagos.

According to her, “access to affordable broadband services will enable Nigeria and other countries in West Africa continue to grow their economies at a faster pace.”

The financial institution is listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation, while its Group derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, through wholesale and consumer banking businesses.


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Oyedele Dismisses Claims Bank Accounts Without TIN Will Be Frozen

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Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has dismissed reports that bank accounts not linked to a Tax Identification Number (TIN) will be frozen or automatically debited from January 1, 2026.

Oyedele Dismisses Claims Bank Accounts Without TIN Will Be Frozen

Taiwo Oyedele

Oyedele described the claims as false and misleading, warning Nigerians against panic over misinformation surrounding recent tax and financial reforms.

In a post on his X handle Tuesday morning, he wrote: “Don’t let anyone manipulate you. Your bank account is safe. Misinformation makes you panic and fear a reform that is designed to help you.

“When they tell you that your account will be frozen or automatically debited from January 2026, ask them for the evidence in the new law. Be wise.”

He stressed that no provision in the new tax laws authorises the freezing of bank accounts, adding that the rumours are part of widespread misrepresentation of the reforms.

The committee chairman reiterated that the reforms are intended to simplify Nigeria’s tax system and ease the burden on ordinary citizens, not to impose punitive measures on bank customers.


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Amazon Blocks 1,800 North Koreans From Job Applications

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AMAZON
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US tech giant, Amazon has disclosed that it blocked more than 1,800 North Koreans from applying for jobs, amid growing concerns that Pyongyang is deploying large numbers of IT workers overseas to earn and launder funds.

Amazon Blocks 1,800 North Koreans From Job Applications

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In a LinkedIn post, Amazon’s Chief Security Officer, Stephen Schmidt, said North Korean nationals have been attempting to secure remote IT roles with companies around the world, particularly in the United States.

He noted that the company recorded nearly a one-third increase in such applications over the past year.

According to Schmidt, many of the applicants operate through so-called “laptop farms” — computers physically located in the US but remotely controlled from abroad.

He warned that the issue is not unique to Amazon and is likely occurring at scale across the tech industry.

He added that common red flags include incorrectly formatted phone numbers and questionable academic credentials.

The issue has previously drawn the attention of US authorities. In July, a woman in Arizona was sentenced to more than eight years in prison for running a laptop farm that helped North Korean IT workers obtain remote jobs at more than 300 US companies.

Officials said the scheme generated over $17 million in revenue for both the woman and North Korea.

Last year, South Korea’s intelligence agency also warned that North Korean operatives were using LinkedIn to pose as recruiters, approaching South Koreans working at defence companies in an attempt to steal sensitive technological information.

“North Korea is actively training cyber personnel and infiltrating key locations worldwide,” Hong Min, an analyst at the Korea Institute for National Unification, told AFP.

He added that, given Amazon’s business model, the motivation behind such operations is largely economic, with a high likelihood of attempts to steal financial assets.

North Korea’s cyber warfare programme dates back to at least the mid-1990s and has since expanded into a cyber unit of about 6,000 personnel known as Bureau 121, according to a 2020 US military report.

In November, Washington announced sanctions against eight individuals accused of being state-sponsored hackers, alleging their illicit activities were carried out to fund North Korea’s nuclear weapons programme.

The US Treasury has also accused North Korea-linked cybercriminals of stealing more than $3 billion over the past three years, primarily through cryptocurrency-related crimes.


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Treepz Launches Direct Flight Bookings to UK, Canada, UAE and 210 Global Destinations

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Treepz, Africa’s leading mobility and travel technology company, has officially launched direct flight bookings on its platform, enabling customers to search, compare and book flights to more than 210 destinations worldwide, including the United Kingdom, Canada and the United Arab Emirates.

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The development marks a major milestone in Treepz’s transition from a mobility provider into a fully integrated travel platform. With the new service, travelers can now complete the entire booking process — from flight search to payment — directly on the Treepz website without relying on multiple agents or third-party platforms.

Speaking on the launch, Mr. Onyeka Akumah, Chief Executive Officer and Founder of Treepz, described the initiative as a defining moment for the company and for travel access across Africa.

He said launching flight bookings to serve customers with flights to over 200 destinations was a major achievement, noting that travelers could now search for flights, enter their details, make payments with their cards, and complete bookings instantly on the platform without delays or switching between multiple websites.

The launch comes at a critical time for the African travel market. December is widely regarded as the busiest travel season on the continent, driven by holiday vacations, family reunions, weddings, festivals and end-of-year celebrations.

Millions of Africans travel locally and internationally during this period, often facing challenges with slow booking systems, unclear pricing and fragmented services.

Treepz’s new flight booking system is designed to address these challenges by offering a faster, more intuitive and reliable experience.

Customers can now search and book flight tickets directly on the Treepz website, compare prices and travel options in real time, make payments using any card option, and complete bookings faster without switching platforms.

Treepz has outlined ambitious plans for 2026, including unlocking access to over six million hotels globally, which will allow travelers to book flights and accommodation together in one seamless flow.

The company also plans to expand its car rental services into Europe and South America, further strengthening its position as a one-stop travel ecosystem.

According to Akumah, these developments will significantly reduce planning time for both leisure and corporate travelers, while giving customers more control and convenience.

Treepz has already facilitated more than six million movements across multiple cities and countries, ranging from daily commutes and corporate transportation to group travel and event logistics. With active operations across Africa and recent expansion into Canada, the company continues to grow its international footprint.

The addition of flight bookings strengthens Treepz’s ability to serve global travelers while maintaining its reputation for reliability and customer-focused service.

By integrating flights, accommodation, ground transportation and experiences into one platform, Treepz is positioning itself as more than a mobility provider.

The company is evolving into a comprehensive travel solution designed for modern travelers who value speed, clarity and convenience.

Industry analysts say the move could redefine travel access across Africa, particularly during peak seasons when demand for efficient booking systems is highest.

With this launch, Treepz has taken a bold step toward building a unified, tech-driven travel ecosystem that connects Africa to the world.


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