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$1.2bn Debt: Fate of 20 million 9mobile Subscribers Unknown

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As a result of the complications arising from the $1.2 billion loan default by 9mobile (formerly Etisalat) to a consortium of banks, about 20 million Nigerians who are subscribers of the telecoms company would be cut off in 2022.

Also, over 4,000 staff of the company risk being laid off.

This, according to Senate investigation, can only be averted if a new buyer emerges, takes over the company and pays off the debt before the 15 years operational licence given to the company expires in 2022.

This was revealed on Thursday during the investigative hearing by the Senate Committee on Banking and Other Financial Institutions, which is currently investigating the loan default threatening the existence of the 9mobile.

Speaking during the hearing, the Nigerian Communications Commission (NCC), represented by the Director of Legal Services, Yetunde Akinoye, said that in 2007 9mobile was given a 15-year licence to operate in Nigeria, which according to her, will expire in 2022.

She said given the financial crisis facing 9mobile, the hope is that a new investor would emerge to take over the company, pay back the consortium of backs the loans which the original owners of the telecom company collected, and also pay for the renewal of the licence to retain the services and subscribers.

She said that if this is not possible, the banks, in alliance with their security trustees, may push to enforce the loan conditions, which she explained might involve stripping the telecoms company to recover their investment.

Recalling what happened, Akinoye said that NCC, which she said was not privy to the loan agreements, got a letter on the June 21, 2017 from the Security Trustee of 9mobile, notifying the regulatory agency that there is a loan default and that the lenders (banks) want to enforce the legal implication.

She said the banks, which had already taken over the telecoms company, wanted the board of 9mobile to be dissolved and a neutral person brought in, preferably the Central bank of Nigeria (CBN).

To this end, she said the CBN Governor, who did not want the apex bank to become involved, however dissolved the old board and constituted a new board chaired by the CBN Deputy Governor, to ensure that the 20 million subscribers and 4,000 staff of 9mobile are not left high and dry.

On why NCC cannot allow the banks to take full ownership of the company, Akinoye said: “The transfer of licence is not allowed by NCC except under certain conditions but they can transfer the shares. The banks are only interested in getting their money but not to run the company.”

She also said that NCC, unlike CBN in the case of banks, does not have powers by the Act establishing it, to take over telecoms companies that are collapsing. Akinoye noted that given the way Mubadala and the associate paid $250 million to get the Etisalat licence, NCC never suspected that anything would go wrong, adding that NCC is already doing a forensic investigation of 9mobile.

On her part, Oluseyi Osusador, Director of Corporate Affairs of 9mobile, who represented the telecoms company, told the Senate that $82 million and $100 million loans were collected for expansion of their services nationwide. She disclosed that they also collected $1.2 billion loan from a consortium of 13 banks for network expansion across the country in 2015.

She added that in the 2016, they paid their obligations as required until the negotiations broke down due to their inability to meet up, adding that efforts to secure a new agreement failed until the investors left, hence they are now looking for a new investor throughout Barclays Bank.

Responding to the accusation by senators that it did not follow the due diligence to monitor the loan and prevent the original investor from cashing out rapidly, Dr. Okwu Joseph Nnanna, CBN Director, Financial System Stability, who represented the apex bank at the hearing, said that CBN started intervening in the deal between 9mobile and the 13 banks before the loan started having issues of default.

He explained that contrary to comments, CBN did not take over Etisalat but the consortium of banks did based on their rights and legal conditions of the loan which allow them to take over the company at default.

Speaking on behalf of the affected banks, Guarantee Trust Bank, represented by Haruna Musa, a Director in the bank, said the banks are the facility agent, pointing out that their role is administrative in nature.

Haruna said that until 2015, the facility was performing optimally, adding that in some years, Etisalat paid more than expected, but paid 17% of what was expected in 2017, resulting in the commencement of the default.

In its submission, United Capital Trustees Limited, which served as the Security Trustee agent to the loan deal, represented by Tadeni Balogun, said it has other plans on how to deal with the situation but refused to give details.

While lamenting the default, Chairman of the Senate Committee, Rafiu Ibrahim, regretted that the loan became problematic three years into the commencement of the payment.

He asked the Security Trustee Company to explain how the founding Managing Director of Etisalat left the company, adding that the Senate needed to know if he was forced to leave or left voluntarily.

Senator Ibrahim expressed concern that shortly after the investors wrote to NCC, they left immediately and easily.

He said these information is necessary because the Senate may have to invite the Economic and Financial Crimes Commission (EFCC) to take over the investigation because the committee cannot understand why the investors hurriedly left and NCC and CBN are not doing anything to get the money back, perhaps by engaging the Nigerian President to engage the President of the host country of Etisalat to pay the debt.

To this end, he vowed that the Senate will not relent to save the banks and the industry, and the subscribers.

Source News Express

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NOA Tasks Media Practitioners to Probe Manifestos of Aspiring Political Office Holders

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Lanre Issa-Onilu, the director general of NOA
Lanre Issa-Onilu, the director general of National Orientation Agency (NOA)

The National Orientation Agency (NOA) has encouraged media practitioners to introduce probing of manifestoes of aspiring political office holders as part of their responsibilities to reshape the country from frivolous and unkept promises.

Lanre Issa-Onilu, the director general of the agency, gave the task while speaking a a panelist at the 9th annual conference of the Guild of Corporate Online Publishers (GOCOP), with the theme,’ Reconciling Campaign Promises with Governance Realities: Challenges and Prospect’, held in Lagos

He pointed out that some of the so-called manifestos are not originally from those who presented but the party they belong to, and they end up subscribing to such manifestos, stressing that as media practitioners this should be probed.

‘Some people proposed manifestos which are not theirs, but party manifestos. They end up subscribing to their party manifestos. As journalists, we do not question manifestos, but populated airtime for other things’

He equally pointed out that the manifesto of the federal government is the manifesto that governed Lagos state, explaining that the National Orientation Agency(NOA) is to communicate government projects.

The Director General added that government require value documentation, recalling that before he joined the agency, he was among those who said it should be scrapped, but when he got there, he discovered that the staff there are committed

‘Before I went to NOA. I was among those who said it should be scrapped. It is not the Agency’s problem but a Nigerian problem. When I got there, I discovered that the staff there are committed

‘I am an agency under a Ministry. There is the problem of the need to have them buy into what I want to do. I am lucky to get the support of the president who is interested in the unity of the country’, he stated.

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Enugu State Govt Condemns Murder of Catholic Priest, Places ₦10 Million Bounty on Killers

…Commiserates with family, Catholic Church

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Peter Ndubuisi Mbah

The Enugu State Government has strongly condemned the gruesome murder of Rev. Fr. Mathew Eya of Nsukka Catholic Diocese by unknown assailants.

The government also commiserated with the late priest’s immediate family, the Catholic Diocese of Nsukka, and indeed the Catholic faithful in general over the tragic incident, which occurred on Friday, September 19, 2025.

In a statement issued by the Commissioner for Information and Communication, Dr. Malachy Agbo, the government described the action as cowardly and cold-blooded.

Father Eya was said to have been shot dead by a group of assailants, who attacked and killed him along Alumona- Eha Ndiagu road in Nsukka Local Government Area of Enugu.

The government has, therefore, reiterated that security of lives and property remains its priority and vowed to bring the perpetrators to justice.

It added that it would not spare any resources within its reach, including technology and credible intelligence to track down the criminals and defeat the remnant agents of evil in the state.

Consequently, the Enugu State Government has placed a ₦10 million reward for anyone with credible information that could lead to the arrest of the perpetrators of the heinous crime.

Anybody with credible information about the perpetrators should quickly contact 07077451426. 

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IPI Raises Alarm over Rising Media Repression in Nigeria

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International Press Institute - IPI
L-R: President, International Press Institute (IPI) Nigeria, Musikilu Mojeed; Director General, Voice of Nigeria (VON), Jibrin Baba Ndace; immediate past Director, Digital Media, VON, Hajia Sani; retired News Agency of Nigeria (NAN) staff, Ameena Sani; Senior Special Assistant on Media and Publicity to President Muhammadu Buhari, Garba Shehu; and former President of the Nigeria Union of Journalists (NUJ), Abdulwaheed Odusile, during a dinner organised on Saturday in Abuja by some members of IPI Nigeria in honour of Hajia Sani, who recently retired from VON.

The International Press Institute (IPI), a global body committed to protecting press freedom and the free flow of information, has raised concern over the recent cases of media repression in the country.

Mr Musikilu Mojeed, president, IPI Nigeria, raised the alarm at a dinner organised by the institute, to honour one of its members and a retired Director, Digital Media, Voice of Nigeria (VON) Hajia Hadiza Hussaina Sani in Abuja on Saturday.

The News Agency of Nigeria (NAN) reports that the dinner was organised to honour the media icon for her dedication and service, after clocking mandatory retirement age of 60 years.

NAN also reports that the identical twin sister of the celebrator, Hajia Ameena Hassana Sani, equally retired meritoriously from the service of the agency (NAN) as a Director.

Speaking at the event, Mojeed, Editor-in-Chief, Premium Times, cited the recent “disturbing” instances of banning of live political programme in Kano State and the arrest of a journalist in Ekiti State.

“Akwa Ibom State Government recently evicted Channels TV crew, a journalist and a cameraman, from the press centre inside Government House, Uyo.

“The repressive action was taken, over the publication of a video clip, where the governor, eventually confirmed he is defecting from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).

“A journalist with FIJ, Sodiq Atanda was recently arrested by the police in Ekiti State.

“A former “ThisDay” employee, Azuka Ogujiuba, was reportedly arrested and harassed by the Police for doing her job.

“Every single day you wake up, it is one form of harassment or the other against the media,” he said.

Mojeed, called for continued advocacy to protect press freedom and promote independent journalism.

He stressed that, efforts to protect journalists’ rights and promote independent journalism are crucial in Nigeria’s media landscape.

Mojeed said Sani’s retirement came at a critical time when the media sector in Nigeria is facing numerous challenges, including harassment, arrests, and censorship.

He noted Sani’s significant contributions to IPI Nigeria, including her role in organising its World Congress in Nigeria in 2018, as well as her subsequent active participation in various committees.

Mojeed appealed to the celebrator to continue advocating for press freedom and supporting the work of IPI Nigeria, emphasising that her expertise and experience are invaluable to the organisation.

The Director-General, VON, Mallam Jibrin Ndace, expressed gratitude to IPI Nigeria for recognising Sani’s contributions, stating that the gesture also reflected positively on the entire VON team.

He described Sani as a professional journalist who seamlessly transitioned from traditional journalism to modern digital practices, leading the digital department with innovation.

According to the DG, Sani’s leadership in the digital space, kept VON at the forefront of public media institutions and global competitiveness.

He commended her experience, passion, and love for journalism, which he said, enabled her to excel in her role and serve as a role model for younger journalists.

The VON DG emphasised that, “journalism is a marathon, not a sprint”, and Sani’s long-standing career is a testament to her dedication and commitment to the profession.

Mr Garba Shehu, s spokesman to late President Muhammadu Buhari, described the retirement of Sani as a significant loss for the organisation but a potential gain for other sectors of the journalism profession.

Shehu praised her, as “a strong and young professional with much to contribute to journalism”.

He highlighted her unique qualities, particularly her social responsibility, selflessness, and commitment to helping others to succeed.

According to him, Sani embodies the principles of servant leadership, a concept often touted by politicians but rarely exemplified.

“Her legacy as a role model for young journalists and a champion of socially responsible journalism will continue to inspire others in the field,” he said.

Abdulwaheed Odusile, former President of the Nigeria Union of Journalists (NUJ), commended Sani’s dedication and expertise, which he said, have earned her recognition and respect in the industry..

On her part, Sani expressed gratitude to God and her family for their support throughout her 34 years career in public service.

While reflecting on the challenges and rewards of her time in service, she highlighted the importance of dedication, clear vision, and family support.

Sani emphasised the need for media professionals to adapt to new technologies and appreciate their impact on the industry and the society

She stressed that, telling a good story starts with understanding oneself and one’s audience.

Despite retiring from active public service, she assured to remain active in the media space, pursuing research, teaching, writing, and lecturing.

“It has been a very difficult, challenging, interesting and rewarding 34 years in service.

“It’s not easy. You have new and great ideas, but some people don’t understand, so they find it a bit difficult to agree with you.

“But if you are consistent, if you have a clear vision of what you want to achieve, and you are dedicated and resolute, the sky is not the limit.

“I have pulled out from active public service, but have not retired. My brain is still exceptionally active, and I plan to utilise it.

“I’ll be doing a lot of research work and writing, and I won’t get tired of seeing myself in the media space,” she said.

NAN reports that Sani’s dedication to her work and her commitment to excellence have been hallmarks of her career, which started with the Nigeria Television Authority (NTA) before joining VON.

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