Connect with us

Telecom

Why We Intervened in Etisalat Crisis- CBN, NCC

Published

on

Godwin Emefiele, Governor, Central Bank of Nigeria
Kindly share this post

Central Bank of Nigeria yesterday adduced reasons it intervened in the crisis between Etisalat and a consortium of 13 Nigerian Banks over a syndicated loan of about $1.2bn granted the telecom company to save over 4,000 jobs and stripping of the company’s assets.

Elsewhere, Nigerian Communications Commission (NCC), insisted that the consortium of banks seeking to takeover Etisalat Nigeria over the protracted $1.72 billion debt impasse must first cross some regulatory hurdles.

Pointing at Section 38 and Sub section 1 of the NCA which spells out that, NCC said that “The grant of a license shall be personal to the licensee and the license shall not be operated by, assigned, sub licensed or transferred to another party unless the prior written approval of the commission has been granted;”

Also, Mr Isaac Okorafor, CBN spokesperson in a statement on Friday said; “Although it should ordinarily not be the role of a regulator to decide how individual bad loans are resolved, the CBN believes that Etisalat is a systemically important telecommunications company with over 20 million subscribers that if not well handled, may have negative implications for the banking system itself.”

He further explained that the CBN and Nigerian Communications Commission (NCC) had suspected that banks might go ahead in the usual way and downsize the company’s over 4,000 staff, adding that this was why they reached an agreement to intervene.

He said both regulators implore the consortium of banks to re-assess its position in dealing with Etisalat.

NCC on its part, insisted that the consortium of banks seeking to takeover Etisalat Nigeria over the protracted $1.72 billion debt impasse must first cross some regulatory hurdles.

Tony Ojobo, spokesman of the NCC drew the attention of the lender banks to the Section 38 and Sub section 1 of the NCA which spells out that, “The grant of a license shall be personal to the licensee and the license shall not be operated by, assigned, sub licensed or transferred to another party unless the prior written approval of the commission has been granted;”

Ojobo, said that the lenders banks must take note of relevant provision of the Nigerian Communications Act (NCA) 2003 as well as relevant provisions of the laws guiding the transfer of licences issued operators by the telecoms regulator.

According to the NCC, Sub Section 2 of the same provision equally states that, “A licensee shall at all times comply by the terms and condition of the license and the provision of this act and its subsidiary legislation.”

Ojobo, who said that NCC is aware of the indebtedness of Etisalat Nigeria to the consortium of banks says that the telecoms regulator and its banking counterpart, the Central Bank of Nigeria (CBN), “mediated by holding several meetings with the banks, Etisalat and other stakeholders with a view to finding a resolution.”

Despite the efforts of the two industry regulators of Federal Government, “regrettably these meetings did not yield the desired results”, he said.

“The NCC wishes to reassure the over 21 million Etisalat subscribers that it will do all within its regulatory power to ensure that Etisalat subscribers continue to enjoy the services provided by the operator”, according to the telecoms regulator.

According to Ojobo, “the Commission has taken proactive steps to cushion the impact of the takeover, this is without prejudice to the ongoing effort between Etisalat and the banks toward negotiated settlement.”

“Whilst the banks and Etisalat are working at resolving the issues, the Commission wishes to assure subscribers that they will continue to enjoy the services provided by Etisalat”, Ojobo added.

According to him, “in view of the recent development, NCC wishes to reassure all stakeholders in the telecommunications sector in particular the subscribers on the Etisalat Network that the Commission will ensure that the integrity of Etisalat Network is not compromised.”

Etisalat of the UAE, which currently holds 45% of Etislat Nigeria.


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

Telecom Operators Invest Over $1Bn on 2,850 New Sites in 2025 – NCC

Published

on

Kindly share this post

Telecom operators in Nigeria invested more than $1 billion in 2025 to deploy over 2,850 new sites, boosting nationwide coverage and capacity, according to data from the Nigerian Communications Commission (NCC).

Telecom Operators Invest Over $1bn on 2,850 New Sites in 2025 – NCC

NCC

The investment details emerged in the just-released 2025 Network Performance Reports, announced by Dr. Aminu Maida, executive vice chairman (EVC), NCC.

Speaking at an engagement on the reports, Dr. Maida emphasised the regulator’s focus on transparent, data-driven oversight.

“Through our collaboration with Ookla, we are providing independent insights into real-world network performance and the lived experience of Nigerians across cities, rural communities, highways, and emerging 5G zones,” he said.

The Q4 2025 reports highlight steady gains in network quality, including improved median download speeds in urban and rural areas compared to Q3.

The video Quality of Experience gap between urban and rural zones has also narrowed, bolstered by a stronger 4G backbone.

Dr. Maida noted ongoing challenges, such as 5G service gaps and upload speed disparities. “We are actively engaging with operators to address these issues, including gaps in mobile service coverage,” he added.

Operators have committed to surpassing their 2025 investment levels in 2026, with infrastructure rollout set to intensify.

“We look forward to continued collaboration with industry stakeholders as we translate these insights into better connectivity, improved service quality, and a more inclusive digital future for all Nigerians,” the EVC concluded.


Kindly share this post
Continue Reading

Telecom

Airtel Africa Records $586m Rise in Profit on FX Gains, Tariff Hike

Published

on

Kindly share this post

Airtel Africa’s profit after tax grew to $586 million in the nine months ended December 31, 2025, up from $248 million in the corresponding period of 2024.

According to the company’s nine-month financial results released on Friday, the higher profit after tax in the current period was driven by higher operating profit and derivative and foreign exchange gains of $99 million, as compared to $153 million in derivative and foreign exchange losses in the prior period.

It disclosed that the group’s revenues in reported currency increased by 28.3 percent to $4,667 million, with constant currency growth of 24.6 percent. Reported currency revenue growth at a premium to constant currency growth reflects currency appreciation in key markets. In Q3’26, constant currency revenue growth improved to 24.7 percent from 24.2 percent in the previous quarter (Q2’26).

“Constant currency revenue growth was supported by tariff adjustments driving a 50.6 percent growth in Nigeria and a strong performance in Francophone Africa, which saw revenues accelerate to 17.0 percent in the nine months.”

In Nigeria, revenue grew by 50.4 percent in constant currency, largely driven by continued strength in the demand for data services, further supported by the tariff adjustments. The constant currency revenue growth was driven by ARPU growth of 39.6 percent and customer base growth of 7.8 percent.

“In reported currency, revenue grew by 52.1 percent to $1,123 million, with Q3’26 revenue growth accelerating to 70.9 percent compared to constant currency growth of 52.9 percent.

“Significantly higher reported currency growth during the quarter compared to constant currency growth was due to the appreciation in Nigerian naira from a weighted average NGN/USD rate of 1,627 in Q3’25 to NGN/USD 1,456 in the current quarter,” it disclosed.

Insights from Airtel’s financials revealed that voice revenue in Nigeria grew by 35.8 percent in constant currency, driven by voice ARPU growth of 26.0 percent, reflecting the tariff adjustments earlier in the year.

Data revenue also grew by 65.4 percent in constant currency as a function of both data customer and data ARPU growth of 8.0 percent and 49.7 percent, respectively. Data usage per customer increased by 26.2 percent to 10.7 GB per month (from 8.4 GB in the prior period), with smartphone penetration increasing 4.6 percent to reach 54.1 percent. Smartphone data usage per customer reached 13.4 GB per month compared to 11.2 GB per month in the prior period.

Sunil Taldar, chief executive officer, said these results highlight the strength of our strategy, with strong operating and financial trends across the business.

He added that “During the quarter, we accelerated investment to enhance coverage and data capacity while also expanding our fibre network. Coupling this investment with innovative partnerships strengthens our customer proposition and positions us to capture the considerable growth opportunity across our markets.

Digitisation, technology innovation, and embedding AI in our processes will also optimise the customer experience with increased digital offerings and closer integration of GSM and Airtel Money services, allowing us to unlock the strong demand across our markets.

Smartphone adoption continues to increase with a penetration of 48.1 percent, and we are seeing solid progress in the development of our home broadband business, reflecting the need for reliable, high-speed connectivity across our markets.

“Our push to enhance financial inclusion across the continent continues to gain momentum with our Mobile Money customer base expanding to 52 million, surpassing the 50 million milestone.

Annualised total processed value of over $210 billion in Q3’26 underscores the depth of our merchants, agents, and partner ecosystem and remains a key player in driving improved access to financial services across Africa. We remain on track for the listing of Airtel Money in the first half of 2026.

“Disciplined execution on cost efficiency, alongside accelerating revenue growth, has enabled another sequential improvement in our quarterly EBITDA margin to 49.6 percent, underpinning constant currency EBITDA growth of 31 percent, and we remain focused on driving further incremental margin improvements.

“Our strategic priorities remain clear: to continue investing in best-in-class connectivity, accelerate financial inclusion through our mobile money platform, and deliver an exceptional customer experience. These results reinforce our confidence in the long-term potential of our markets and our ability to create value for all our stakeholders,” he added.


Kindly share this post
Continue Reading

Telecom

Africa’s AI Guru Abodunrin Charts Path to Continent’s Digital Dominance

Published

on

Kindly share this post

David Adeoye Abodunrin, Africa’s foremost AI transformations coach and internationally recognised futurist, has declared that the continent’s immense potential can only be unlocked when purpose is aligned with strategic intelligence.

Africa's AI Guru Abodunrin Charts Path to Continent's Digital Dominance

David Adeoye Abodunrin

Speaking to ICT editors in Lagos, Abodunrin—renowned for nearly three decades of multidisciplinary expertise spanning artificial intelligence disruption, digital governance, behavioural intelligence, cybersecurity, and human capital transformation—said Africa must embrace AI as a transformational frontier rather than a mere tool.

“AI is not merely a tool, it is a transformational frontier that can unlock prosperity, resilience and leadership for Africans in the global digital era,” Abodunrin stated.

Abodunrin, widely sought after by C-suite executives, policymakers, founders and institutional boards, is recognised internationally as a foresight architect and strategic transformation coach. His mission, he explained, is to help individuals, governments and organisations engineer strategic advantage through anticipatory intelligence and ethically aligned innovation.

His work focuses on decoding emergent AI and intelligence systems that reshape markets, redefine competitive advantage, and enable sovereign digital ecosystems.

He is also a 14-time international bestselling author whose frameworks integrate behavioural psychology, foresight strategy and digital sovereignty to prepare leaders for future complexities. Through his organisations, including Cubed Integrated Consulting and Cyberfore Consulting, Abodunrin equips governments, boards, and enterprises with tools to build secure, future-ready institutions that thrive amid volatility.

He stressed that Africa’s transformation must be rooted in local contexts and values, not imported wholesale from global models.

“In Africa, transformation must not just follow global models, it must reflect our cultures, our challenges and our collective aspirations,” he emphasised. “This continent holds immense potential; we simply need to align purpose with strategic intelligence to unlock it.”

His coaching and advisory services emphasise strategic AI governance tailored for African economies, executive and leadership transformation for sustained institutional resilience, digital and cyber intelligence frameworks to protect sovereign infrastructure, and behavioural intelligence and insights for inclusive growth and innovation.

Despite his international recognition, Abodunrin insists that his philosophy centres on African solutions for African realities—developing local talent, embedding ethical AI adoption, and fostering foresight strategies that account for Africa’s unique socio-economic ecosystems.


Kindly share this post
Continue Reading

Trending