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MTN Co-operative Boss, Others Defraud Staff of N1.4Bn

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Cyril Ilok, prosecution witness, has told Justice Lateef Lawal-Akapo of a Lagos High Court sitting in Igbosere how former staff of MTN defrauded MTN Employees Co-Operative Society (MEMCOM) members of the sum of N1.4Billion.

 

Ilok, who is the first prosecution witness works as a General Manager with the Business Risk Management Unit in MTN, told the court how the defendants stole the money meant to buy landed property and build the proposed “Yellow Estate” for members of the Co-Operative.

 

The defendants are Victor Akintunde, Gani Mustapha, Mutairu Babatunde, Primavera Engineering and construction Limited and Mabo Dredging Limited.

 

They are standing trial on eighteen count charge, bothering on stealing, conspiracy and obtaining money by false pretense, the charges was brought against them by the Economic and Financial Crime Commission’s, (EFCC).

 

Ilok while being led-in evidence by EFCC counsel, Babatunde Sonoiki, told the court how the 1st defendant, Victor Akintunde, who was the president of MEMCOS and the 2nd defendant, Gani Mustapha,a treasurer conspired to steal the money contributed by members of the Co-Operative.

 

According to Ilok, the 1st and 2nd defendants signed a memorandum of Understanding with the land owner and the total of 26.5 hectares was signed as N1,501,902,666.00 but the cost was discovered to be N963.3,000,000.00, leaving a difference of N373,500,000.

 

“MEMCOS through the 1st and 2nd defendants acquired 39 hectares of land for real estate development but they did not pay for the said numbers of hectares.

 

The defendants only paid for 13 hectares and part paid for the 26 hectares of the land located in Okun Ajah, Lagos.

 

“It was also discovered that the 1st and 2nd defendants have mismanaged the sum of N1,357,764,414.

 

The witness also told the court that the 1st and 2nd defendants were former staff of MTN while the 3rd defendant is the owner of the 4th defendant, Primevera Engineering and Construction Limited.

 

“It was discovered that there were a lot of irregularities in the expenses.

The total sum of N3.2billion had been collected by the executive of the Corporative led by Akintunde and Mustapha for the purpose of building houses for members of the cooperatives.

 

“When these irregularities were realized, the new management appointed KPMG, a professional auditing and accounting firm to investigate the books of account of the cooperative for the period of 2008-2011 executive led by the defendants before they handed over to new executive.

 

“During this period, I worked with KPMG on the investigation and I was also interfacing between the firm and the accused after which the report of KPMG was submitted to me to help summarize and thereafter, a petition was written to the Economic and Financial Crime Commission.

 

Ilok further told the court that the report of the firm shows that there were monies that were not paid.

 

“There were 13 hectares of land and 5 hectares were encumbered and the sum of N427,114,414,00 was to be refunded by Primavera Engineering to MEMCOS and a cheque was written by Primavera but it was returned unpaid.

 

“The company however issued another cheque of N300million to MEMCOS and it was cleared.

The difference between the amount that was cleared and the one which was returned was N127,114,414. The amount said to have been mismanaged is N1,357,764,414.00.

 

“It was also discovered that there were unreceipted payments, excess payment on documents and land, Five hectares of land was also defective among the hectares bought.

 

While being cross-examined by one of the defence counsel, Mr Olalekan Ojo, Ilok maintained that MEMCOS is insisting that the 1st and 2nd defendants should refund the defective 5 hectares of land.

 

He further said that the defendants did not account for what they did with N50million from the money given to them.

 

Ilok also siad he is not aware that the 4th defendant was engaged to do other things which includes perfection of documents, layout and building approval but money was paid to the company through the 1st and 2nd defendants.

 

He continued that the registration of the land is in contention and ineffective.

“The grouse of the MEMCOS is the failure of the defendants to have the money paid for 5 hectres refunded. The titled document was used by MEMCOS to obtain loan from Federal Mortgage Bank in respect of Yellow Estate project.

 

” I did not know the amount of loan MEMCOS got from the bank. I was not present at the negotiation between MEMCOS acting through the first and 2nd defendant and the owners of the 39 heactres of land. They did not account for what they did with the money. But Memcon insisted that the over payment should be refunded”, he said.

 

 

 


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How Zabira is Empowering the Next Generation of Entrepreneurs

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Financial independence is no longer a distant dream but a daily reality, especially for young entrepreneurs cashing out weekly through innovative platforms like Zabira.

From trading gift cards to paying bills with crypto-converted naira, Zabira is proving to be more than just a fintech app; it’s a complete digital marketplace designed to fuel the ambitions of the next generation of hustlers.

With users reportedly earning up to ₦150,000 weekly from ongoing campaigns, Zabira has become a go-to platform for side income and full-time digital entrepreneurship.

Its frequent cashback campaigns reward both new and existing users, allowing them to earn 2% cashback on their first crypto trade and 3% on their first gift card trade, a simple but powerful incentive that reduces entry barriers for young people stepping into digital finance.

But Zabira isn’t just about trading; it’s about everyday life. In a move to deepen its utility and promote seamless living, the platform has expanded its bill payment business unit. Users can now pay for airtime, data, electricity (PHCN), TV subscriptions, and even fund wallets for platforms like Bet9ja, all within the Zabira App.

Zabira allows users to make utility and other payments directly using crypto. For added flexibility, users can also instantly convert their crypto to naira, removing any limitations and ensuring seamless transactions without bank delays or downtime.

This subtle integration of crypto into daily transactions is a major leap forward in digital financial inclusion. It not only helps normalise the use of digital assets but also provides practical avenues for users to derive real-world value from their crypto holdings.

Zabira also understands the frustrations of online subscriptions, especially when traditional bank cards fail. Through its robust gift card marketplace, users can buy and use cards for platforms like Netflix, Spotify, Google Play, Apple, Amazon, and more.

These cards offer a reliable alternative for accessing services that are increasingly essential for both work and leisure and are especially helpful for digital creatives, remote workers, and students.

Beyond utility, the platform keeps the entrepreneurial spirit alive with bonus campaigns on first-time gift card trades, creating more reasons for users to engage and earn. With every trade, Zabira positions itself not just as a service provider but as a digital enabler supporting users on their financial journey.

In a country where access to financial tools can often feel like a privilege, Zabira is leveling the playing field. Whether you’re a student looking to subscribe to an online course, a freelancer paying for tools, or a small business owner funding your daily operations, Zabira is building the infrastructure that turns these goals into everyday wins.

To get started using Zabira, users can download the app on Android and iOS devices.


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Driving Digital Inclusion: Anambra’s Mobile Tech Hub Brings Free WiFi to the People

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The Geeks & Founders Alliance for Soludo (GEFAS) has taken another bold step in supporting Governor Charles Chukwuma Soludo’s vision of a smart, connected Anambra with the official launch of its Mobile Tech Hub- a custom-built bus bringing free WiFi directly to the people.

Fully equipped with high-speed internet, voice and data services, and backup power, the GEFAS Mobile Tech Hub can connect up to 3,000 people at rallies, campaign grounds, and public spaces: expanding the Solution WiFi initiative already live at over 26 locations across Anambra.

The Deputy Governor of Anambra State, Dr. Onyekachukwu Ibezim, flagged off the Mobile Tech Hub at a brief ceremony held on Thursday, 24th July 2025, at the Tower of Light, Emeka Anyaoku Boulevard, Awka.

He was joined by the Secretary to the State Government, Prof. Solo Chukwulobelu; the Deputy Chief of Staff/Chief Protocol to the Governor, Chief Chinedu Nwoye; other senior government officials; the media; and the GEFAS community.

Dr. Ibezim, visibly excited as he inspected the hub’s features, described it as an initiative perfectly aligned with what the Governor is doing in the state.

“We don’t expect anything less from Agbata, who is a guru in this field: exactly why the Governor puts square pegs in square holes,” he said, pointing to the sophistication of the project and the Governor’s deliberate choices.

“I hear wherever this vehicle parks, people can connect freely, in line with our mantra of making Anambra a place to live, invest, work, relax, and enjoy

“I thank Agbata for this great feat and assure our government’s support to make Anambra the smart mega city we all desire

He further emphasized that this will not be a one-off.

“Mr. Governor is also working to make this permanent. We are not just going to leave you with one vehicle. So I encourage everyone: wherever you see this bus parked, connect to the free WiFi and get your job done.” he concluded.

Earlier in his remarks, Chukwuemeka Fred Agbata, CFA, GEFAS Convener and MD/CEO of the Anambra State ICT Agency, said:

“We are here to celebrate innovation made possible by Mr. Governor’s forward-thinking policies, like waiving Right of Way (RoW) charges, which opened up fibre optic expansion and connectivity across Anambra.

“Today, various public places, student lodges, and even four higher institutions in the state already enjoy free WiFi, just as Governor Soludo promised in his People’s Manifesto.

“Now, with this Mobile Tech Hub, wherever the Governor goes during the campaign period, people can enjoy free connectivity and high-speed internet.

“All over the world, we know that when broadband expands, the economy grows.

He added, “Data is expensive these days, so this bus will bring relief to Ndi Anambra.

“Wherever you see it passing through your neighborhood, you can hop online for free- maybe download a movie, a song, or do whatever you like.

It’s a practical solution that the Solution Government is delivering. So, vote Governor Soludo, and let the Solution continue” Agbata concluded.

The bus is set to hit the road in the coming days, following Governor Soludo to campaign grounds and reaching far more neighborhoods in earnest.

With this milestone, GEFAS reaffirms its commitment to helping Anambra become the smart, connected, and prosperous state that every citizen can proudly call home.


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MTN Media Innovation Programme Fellows Gain Insight into Nigeria’s Connectivity Backbone

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L-R: Dr Chike Mgbeadichie, Programs Director, Professional Education, School of Media and Communications, Pan-Atlantic University; Blessings Mosugu, Vice President, MTN Media Innovation Programme Cohort 4; Yahaya Ibrahim, Chief Technical Officer, MTN Nigeria; Rebecca Edun, Social Director, MTN MIP Cohort 4 and Isaac Ogugua-Ezechukwu, Programs Administrator, Professional Education, School of Media and Communications, Pan-Atlantic University, during the July session of the MTN Media Innovation Program held at the MTN Plaza, Ikoyi, recently.
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Fellows of the MTN Media Innovation Programme (MIP) embarked on an intensive industry tour recently, gaining firsthand experience of MTN Nigeria’s infrastructure and learning how technology is shaping the future of connectivity and storytelling.

L-R: Dr Chike Mgbeadichie, Programs Director, Professional Education, School of Media and Communications, Pan-Atlantic University; Blessings Mosugu, Vice President, MTN Media Innovation Programme Cohort 4; Yahaya Ibrahim, Chief Technical Officer, MTN Nigeria; Rebecca Edun, Social Director, MTN MIP Cohort 4 and Isaac Ogugua-Ezechukwu, Programs Administrator, Professional Education, School of Media and Communications, Pan-Atlantic University, during the July session of the MTN Media Innovation Program held at the MTN Plaza, Ikoyi, recently.

The day began with a visit to the MTN Cable Landing Station, where the Fellows explored the facility that serves as a gateway for international data traffic. The tour provided insights into the network that powers Nigeria’s digital ecosystem.

At the MTN Switch in Aromire, the group observed key operations ensuring seamless connectivity across the country. They were guided through the processes that keep millions of Nigerians connected daily.

Later at MTN’s Head Office in Falomo, the Fellows engaged in two sessions with the company’s executives.

Onyinye Ikenna-Emeka, Chief Marketing Officer, discussed the role of 5G and IoT in driving innovation and storytelling in the media. “5G is not just about speed; it’s an enabler of experiences,” she said. “With ultra-low latency and massive device connectivity, we can deliver high-definition content production, virtual reality experiences and cloud-native workflows that redefine how journalists create and audiences consume media.”

The CMO also noted that MTN’s leadership in 5G since 2022 has opened doors for industries such as healthcare, education, and entertainment to innovate.

In a session on network innovation and digital transformation, MTN’s Chief Technical Officer, Yahaya Ibrahim, shared how the company is leveraging artificial intelligence for demand planning and network optimisation. “AI allows us to predict faults, automate maintenance and plan smarter for Nigeria’s unique needs,” he said.

He also highlighted the technical challenges of maintaining network stability. “From seamless handovers between base stations to combating fibre cuts and vandalism, we work around the clock because connectivity is critical to the economy and to people’s lives,” Ibrahim said.

The day provided Fellows with a comprehensive understanding of MTN’s infrastructure and the technologies shaping Nigeria’s digital future, reinforcing the programme’s goal of empowering media professionals to tell richer, more informed stories about the industry.


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