News
Skye Bank Asks FG to Seize Ntel, Discos, Says Ex-MD Wreaked Havoc

Management of Skye Bank Plc has written to Acting President Yemi Osinbajo, detailing how Tunde Ayeni, chairman of the bank between 2010 and 2016, allegedly wrecked the financial institution, according to TheCable.
The bank recommended that the government assist it to seize Ayeni’s assets, including Nitel (now Ntel) and the Electricity Distribution Companies (Discos)
In a series of letters and documents seen by TheCable, the management listed details of how Ayeni allegedly used his office to perpetrate illegality.
After sending several warnings, the Central Bank of Nigeria (CBN) had taken over Skye Bank on July 4, 2016.
Godwin Emefiele, governor of CBN, said then that the action followed the failure of the lender to meet the regulator’s minimum key liquidity and capital adequacy ratios.
Ayeni had resigned after the development and CBN announced the appointment of Muhammad Ahmad as the new chairman, while Adetokunbo Abiru took over from Timothy Oguntayo as group managing director (GMD).
Suspense Account
In the letter signed by Abiru and Ahmad, the bank gave details of how Ayeni allegedly used loans from the bank to acquire major government companies.
“Upon the assumption of duty by the new board, one of the immediate concerns that needed to be addressed was to ascertain the true state of the affairs and financial position of the bank and the credibility of the IT and information systems of the bank,” the letter read.
“To this end, the following were undertaken: engagement of PWC do to half-year audit as of June 30, 2016. This was later extended to cover the full year to December 31, 2016.
“Engagement of KPMG to do a forensic audit of the bank’s IT platform and management information systems.
“The forensic audit revealed that the bank operated two sets of financial accountability/books and this was responsive for the regulators/auditors inability to detect the massive losses and infractions, particularly the balance of N280bn in suspense accounts.
Industry Indebtedness
“The bank’s total exposure to Ayeni as of the date is about N70bn. It is clear that he used his position as the chairman of the bank to obtain inside loans well above the regulatory thresholds for the acquisition of the following government enterprises: Ibadan Electricity Distribution Company, Yola Ibadan Electricity Distribution Company and Nitel/Mtel. All the facilities are presently seriously challenged.
“As of today, Ayeni’s total industry indebtedness, covering both Nitel and the Electricity Distribution Companies (Discos) is estimated at about N150bn, and little, if any, of these obligations, are being doubtful that he will ever be in a position to service these loans satisfactorily.”
The letter also said another N33 billion was traced to Ayeni, saying there was suspicion that that out of this amount, N7 billion was spent on the re-election campaign of former President Goodluck Jonathan.
“The sum of N7bn was disbursed without due process to various individuals and corporate organisations on the request of Godknows Igali, a former permanent secretary of the federal ministry of power,” it read.
“The monies appear to have been expended essentially on the Jonathan-Sambo electoral campaign in 2015. That sum remains outstanding as at today.
“There is ample evidence that he (Ayeni), among others, received large amounts of cash, totalling N29.5bn, from the bank, which appears to be connected to the purchase of Mainstreet Bank Limited, but which has not been accounted for.
“He was instrumental in the approval and disbursement of the liquidity management which went on throughout his tenure.”
Seize Assets
The management recommended that the government assist it to seize Ayeni’s assets.
“The former chairman should be brought to account for his central role in many of the identified infractions,” it read.
“We have been able to perfect the debenture on the fixed and floating assets of Natcom, the vehicle that was used for the acquisition of Nitel and Mtel with asset estimated at N282bn (Open market value) and N183bn (forced sale value) by Knight Frank in 2014.
“This will put us in a position to place the company into receivership for recovery. However, in order to come to fruition, this approach will require strong and unyielding support from the regulatory and political authorities in the country.”
The management also indicted Akinsola Akinfewa, Kehinde Durosinmi-Etti and Oguntayo, all former GMDs of the bank.
Other individuals listed in the petition for various acts of infraction are Femi Otedola, chairman Forte Oil Plc, Festus Fadeyi and Jide Omokore.
Ayeni could not be reached for comments as he failed to respond to a text message TheCable sent to his telephone.
News
Tech Alliance Aims to Transform Africa’s Mapping System

Space42, the UAE-based global AI-powered space-tech company, part of technology group G42, this week announced the signing of a memorandum of understanding with Microsoft and Esri to deliver high-resolution, scalable base maps across all 54 African countries, serving over 1.4 billion people.
Known as the “Map Africa Initiative,” the project will create a comprehensive base map of the continent to date, addressing challenges in infrastructure, investment, and institutional gaps, according to Space24.
The company said the updated mapping system will catalyse economic development through increased access to intelligent solutions that support governments, businesses, and communities.
The five-year collaboration aims to strengthen geospatial capabilities across Africa and the UAE, and provide precise and accessible data to national and regional stakeholders.
Space 24 detailed how the initiative will enable economic opportunities and innovation, saying the program is expected to unlock long-term value across multiple industries including: ports and logistics; renewable energy; security and disaster response; smart cities and digital economies.
It added: “Accurate maps are foundational to urban planning, public services, and technology deployment. The data will be licensed to national governments, enabling ownership and long-term updating by National Mapping Agencies. Over time, the initiative will also support a new commercial ecosystem of African startups. The data will eventually be housed in G42 and Microsoft-managed data centers across the continent.”
Hasan Al Hosani, CEO of Smart Solutions at Space42, said: “Partnership is core to the UAE’s DNA, and is central to how Space42 operates. This collaboration with Microsoft and Esri is more than technical; it’s strategic. It advances Space42’s business priorities, strengthens our role as a trusted partner to governments, and delivers meaningful benefits to communities across Africa.
“Accurate, high-quality mapping and the intelligence solutions built on it are essential for growth, resilience, and inclusive innovation. With reliable data, communities and economies prosper.”
While, Jack Dangermond, president of Esri added: “We are proud to support the Map Africa Initiative in partnership with Space42. Transforming satellite imagery into detailed, accurate base maps at continental scale requires advanced geospatial technology and professional production workflows.
“These same capabilities have supported similar national and regional mapping efforts around the world. With Map Africa, we are helping to establish a foundational resource that will drive infrastructure planning, economic growth, and sustainable development across the continent.”
News
Kenya Tops Global Rankings for ChatGPT Use

Kenya has emerged as the global leader in the adoption of ChatGPT, with a higher percentage of its internet users utilizing the AI chatbot than any other country.
According to the July 2025 Global Digital Report from DataReportal and Meltwater, an astounding 42.1% of Kenyan internet users aged 16 and above used ChatGPT in the past month.
This remarkable statistic places Kenya at the forefront of a global shift towards integrating artificial intelligence into daily life, outranking traditionally tech-forward nations such as the United Arab Emirates (42%), Israel (41.4%), Malaysia (39.8%), and Brazil (39.7%). In contrast, major economies like Russia (10.8%), China (7.3%), and Japan (5.8%) showed significantly lower adoption rates.
The report, which provides a comprehensive snapshot of digital trends worldwide, also highlights Kenya’s significant contribution to the platform’s overall traffic. The country is ranked third globally in website traffic to ChatGPT, accounting for 4.81% of all global visits, trailing only the United States and India.
Analysts attribute Kenya’s rapid and widespread adoption of ChatGPT to two primary factors:
- A Young, Tech-Savvy Population: With a median age of just 20, Kenya has one of the youngest populations in the world. This demographic is highly digitally native and has been quick to explore and adopt AI tools for a wide range of purposes, including education, business operations, and content creation.
- High Mobile Internet Penetration: Over 48% of Kenya’s population uses the internet regularly, with the vast majority accessing it via mobile devices. The accessibility of AI tools like ChatGPT on smartphones has been a critical enabler of its adoption, even in semi-urban and rural areas.
The report’s findings come shortly after OpenAI, the creator of ChatGPT, revealed that the platform now handles over 2.5 billion prompts globally every day. While OpenAI did not provide a breakdown of these prompts by use case, the platform’s popularity for tasks ranging from writing and coding to research and brainstorming is undeniable.
Kenya’s top ranking is a powerful indicator of the country’s dynamic and fast-evolving digital landscape, showcasing an eagerness to embrace cutting-edge technologies and positioning the nation as a key player in the future of AI adoption in Africa.
News
Yahoo Mail Halts Free Storage Service, Caps at 20GB

Yahoo Mail has announced a major shift in its storage policy, slashing the free email storage cap to 20GB and rolling out a new subscription model starting at $1.99 per month for 100GB.
The change, which takes effect immediately, marks a significant downgrade for many long-time users who have grown accustomed to Yahoo’s previously generous storage offering.
In a notice sent to users on Tuesday, the company urged account holders to review their current storage usage and consider paid upgrade options to avoid disruptions.
“Once you reach the 20GB limit, you will no longer be able to send or receive emails unless you either delete existing messages or upgrade your account,” the notice warned.
While access to inboxes will remain intact for now, users will be forced to clean up their accounts or move to a paid tier to maintain full functionality.
Yahoo has unveiled two new storage plans which are 100GB for $1.99/month and 1TB for $9.99/month.
For those seeking a more premium experience, Yahoo is also offering Yahoo Mail Plus, which includes 200GB of storage, an ad-free interface, and additional features. However, users opting for the 100GB and 1TB tiers will still be served ads, a move likely to frustrate those paying for expanded capacity.
To ease the transition, Yahoo is rolling out new tools to help users manage their inboxes more efficiently. These include real-time storage tracking, a usage dashboard, sorting options for large emails, and an attachment manager to help clear out space-consuming files.
Despite the enhancements, the abrupt downgrade has sparked concerns among users, particularly those with email archives spanning more than a decade. Critics argue the change could pressure many into paying for what was previously free, without a proportionate upgrade in value, especially considering ads remain in place for all but the premium Plus tier.
Yahoo’s new model brings it closer to competitors like Gmail, which offers 15GB of free storage shared across Gmail, Google Drive, and Google Photos. Google’s paid plans also begin at $1.99/month for 100GB, but offer additional benefits such as photo backups and expanded cloud services. Gmail also provides a cleaner experience, with minimal ads even on its free plan.
Yahoo Mail’s new 20GB limit applies exclusively to email storage, a slight advantage for users who don’t rely heavily on broader cloud services. But the real test will be how users respond to the newly imposed constraints and whether the value proposition is strong enough to convert them into paying subscribers.
- Telecom2 days ago
MTN Mulls AI Tech to Protect Infrastructure as Cable Cuts Hit 13,000 in 18 Months
- E-Financial2 days ago
Banks Reopen Naira Card Payments for International Tuition Fees
- News2 days ago
Yahoo Mail Halts Free Storage Service, Caps at 20GB
- E-Financial2 days ago
Safaricom, PayPal Collaborate to Link Mobile Money with Online Payments
- E-Business2 days ago
Attackers Target Employees with Fake HR Updates
- Broadcasting2 days ago
How AI Agents Will Revolutionise Industries, Boost Productivity, and Cut Costs
- E-Financial1 day ago
Ecobank Sends Important Notice for Customers
- News2 days ago
CAC to Delist 100,000 Dormant Firms After 90-Day Compliance Window