Telecom
Aig-Imoukhuede Claims Access Bank Designed MTN‘s Winning Business Model

Aigboje Aig-Imoukhuede, former group managing director of Access Bank and founder of Africa Initiative for Governance (AIG), has revealed how the lender created a winning business model for MTN in Nigeria.

Aigboje Aig-Imoukhuede, former group managing director of Access Bank
He was speaking during a virtual interview with African Banker magazine, the veteran banker explained that it was challenging to convince MTN to work with Access Bank.
In February 2001, MTN Nigeria won 1 of 3 new licenses awarded through an open auction process as part of the liberalisation of the telecommunications sector.
According to Aig-Imoukhuede, through the use of a “value-chain model” and indepth understanding of the telco’s businesses, Access Bank was able to come up with strategies which helped MTN to navigate the Nigerian market.
“We deconstructed the entire value chain of MTN. In doing so, we came up with two issues for MTN. One, they needed a distributor model that would work for Nigeria. The traditional models that they knew in other African countries did not lend itself easily to Nigeria. We didn’t have malls, a retail footprint as you would have in other markets, as well as digital technology that would allow for airtime distribution,” he said, at the event attended by TheCable.
“You needed a physical distribution system that worked. So, we partnered with them to create, identify and train distributors. We came up with a dynamic distributor financing package.
“Another issue was their infrastructure. There are two things that make a good telco. One was their ability to distribute their airtime but the quality of the airtime is also fundamentally important.
“Rolling out a national telco infrastructure in Nigeria is not an easy thing to do. The geology and geography of Nigeria can be very challenging. We identified local construction companies who could go out there and do this rollout but they didn’t have capital.
“We came up with a concept called a cell site in a warehouse. We had these giant warehouses and a supply chain management system where we import the components of a cell site such as generators, steel and we would release them to local contracting companies at about five cell sites at a time. So, the risk was limited. Even though there was enough in terms of thousands of cell sites in a warehouse, the risk of failure was managed by us.
“Importantly, we didn’t just limit ourselves to the domain of finance. We found ourselves doing things as McKinsey or a consultant company would do. It turned out to be a winning model. We rolled it out not just for MTN but across corporate Nigeria.”
Responding to a question on what he would do differently if he could go back to the drawing board, he said he would acquire more shares in Access Bank.
Aig-Imoukhuede also emphasised the importance of partnerships in businesses, adding that the mutual belief he and Herbert Wigwe, his business partner, had in each other, drove the success of Access Bank.
In his new book titled ‘Leaving the Tarmac: Buying a Bank in Africa’, he recounts the events leading to the acquisition of Access Bank in 2002 and growing it with Wigwe, present chief executive officer (CEO), into Nigeria’s biggest bank by customer base and Africa’s banking powerhouse.
Telecom
Lagos Lawyer Sues MTN, Seeks Dissolution of Board

Osa Director, Lagos-based lawyer and veteran journalist, has asked a federal high court to dissolve the board of MTN Nigeria, accusing the telecom giant of industry capture, undue dominance and influence peddling.

Osa Director, Lagos-based lawyer and veteran journalist,
In suit No. FHC/L/CS/1413/24 filed at the Federal High Court, Ikoyi, Lagos, Osa, via an originating summons, is seeking the court to dissolve the board of MTN.
He is accusing the telecommunications company of industry capture, undue dominance and influence peddling with the way and manner it cleverly filled its board with men and women with regulatory agency experience and reach.
“The board of MTN being occupied by individuals who have a history of regulatory oversight, taxation authority and pensions will undermine the integrity of our various institutions and create room for influence peddling and regulatory capture, he averred in his affidavit.
According to the pro democracy activist and author of Suicide Journalism, he is compelled to file the suit as a corporate governance expert and for his commitment to ensuring fair play and equal opportunities for all the players in the telecommunications sector.
In the process filed at the court, Osa is seeking the court to dissolve the board of MTN because it deliberately populated it with persons that have industry regulatory experience in the telecommunications and auxiliary sector.
For example, he argued that Engineer Ernest Ndukwe, who is the current chairman of the MTN board, was the pioneer Executive Vice Chairman of the National Communication Commission (NCC) which was a licensor and chief regulator of MTN.
Also, Mrs Ifueko Omogui Okauro, another director on the board of MTN, was the pioneer Chief Executive of Federal Inland Revenue Service (FIRS) between 2004 and 2012.
During the said period, MTN was found guilty of engaging in tax evasion to the tune of $ 72.5 million.
Mrs Omobola Johnson, pioneer minister of Communication Technology, is a board member of MTN.
The ministry is responsible for performing oversight functions over MTN.
Similarly, Alhaji Mohammad K. Ahmad, pioneer Director General and Chief Executive of National Pension Commission (Pencom), completes the circle of persons with regulatory agency experience who are on the board of MTN.
Such a constituted board gives undue dominance and advantage to MTN. Indeed, it amounts to influence peddling and industry capture.
Therefore, the relief sought by the Plaintiff is a declaration that the appointments of the affected officers to the board of MTN contravenes universally acceptable corporate governance practices.
Therefore, the court should grant an order nullifying their appointments. A perpetual injunction restraining the affected persons, their servants, agents and or privies from either further appointing or accepting any such appointment.
The Plaintiff is also requesting the court to mandate the affected persons to refund benefits, monetary or otherwise, already received by them by their appointments.
A cost of Fifty Million Naira is demanded to be awarded against the defendants.
The matter came for hearing on Tuesday, 11th March 2025 and has elicited the interest and attention of many Nigerians interested in corporate governance.
The Plaintiff’s lead counsel is a pro democracy activist, Prince Ademola Adewale, while MTN is represented by Fabian Ajogwu, SAN. The matter is before Justice Dipeolu.
Telecom
9Mobile Dispute: Hayatu, Seltrix Respond to Funtua’s Trusteeship Claims

Hayatu Hadejia and Seltrix Limited have responded to the lawsuit filed against them by Abubakar Funtua, son of the late business mogul Isa Funtua, over the ownership of 9Mobile, telecom firm.
As per report by Premium Times, Funtua filed the suit at the Federal High Court in Abuja over the ownership and control of Emerging Markets Telecommunications Limited, which operates under the brand name 9Mobile.
Among other defendants, he sued Theophilus Danjuma, former Chief of Army Staff, along with his company, LH Telecommunication Limited.
Others joined in the suit are Seltrix Limited (named as the 1st defendant), the Corporate Affairs Commission (CAC), the Nigerian Communications Commission (NCC), Mr Hadejia, Teleology Nigeria Limited, and Mohammed Edewor, a director at Teleology Nigeria Limited.
The plaintiff asked the court to declare he is the beneficial owner of the 43 million ordinary shares held in trust for him by the 1st defendant, Seltrix Limited, in the capital of the 3rd defendant, Teleology Nigeria Limited.
Another prayer sought by the plaintiff is a declaration that the acquisition of the 43million ordinary shares purportedly transferred or surrendered to the 3rd defendant (Teleology Nigeria Limited) in breach of the 1st defendant (Seltrix Limited)’s duty as trustee of the plaintiff and in contravention of Clause 48 of the Memorandum and Articles of Association of the 1st defendant (Seltrix Limited) is null, void and of no effect.
“That the purported registration of the transfer by way of surrender/gift of 43,000,000 ordinary shares held by 1st defendant (Seltrix Limited) in the capital of the 3rd defendant (Teleology Nigeria Limited) is unlawful, null and void,” the plaintiff stated.
But in a counter-affidavit sworn to and filed on behalf of Seltrix Limited, Hadejia described the plaintiff’s application as a reckless abuse of the court process.
He urged the court to dismiss the application and award substantial costs against the plaintiff.
Challenging Funtua, he demanded concrete evidence of any trusteeship arrangement involving him or Seltrix Limited concerning the alleged N43 million ordinary shares in the capital of the third defendant, Teleology Nigeria Limited, or any matter related to the suit.
Hadejia stated that the plaintiff’s motion, dated 27 January but filed on 28 January, was a fabrication designed to mislead the court.
Hadejia also denied holding in trust the controversial N43 million ordinary shares of Emerging Markets Telecommunication Services (EMTS)—the holder and operator of the 9Mobile telecommunications licence—on behalf of Mr Funtua.
Similarly, Teleology Nigeria Limited, Mr Edewor, Emerging Markets Telecommunication Services Limited, LH Telecommunication Limited), and Mr Danjuma filed a joint notice of preliminary objection calling on the court to throw out the suit.
They sought an order dismissing the suit for lack of jurisdiction and another order declaring that the plaintiff’s action constituted an abuse of court process.
Credit: Premium Times
Telecom
Zoho Unveils Projects Plus: AI-Powered, Unified Project Management Platform for Enterprises

Zoho Corporation, a global technology company, today announced the launch of Projects Plus, a flexible, collaborative new platform providing data and intelligence-driven project management for mid-sized and large organisations.
Through native integration of four key Zoho applications—Projects, WorkDrive, Analytics, and Sprints—Projects Plus enables asynchronous collaboration, seamless file management, real-time business intelligence, and Agile or Waterfall workflows.
Zoho Projects has seen rapid growth, doubling its revenue in 2024, with 55% of new users migrating from Microsoft Projects and JIRA.
Projects Plus builds on this success by focussing on better data democratisation, AI-powered insights, hybrid project management, and collaborative work management.
As 18% of enterprise customers deployed both Zoho Projects and Zoho Analytics, Projects Plus directly addresses these needs by consolidating the two, and more, into a singular, efficient solution.
“The surge in digitalisation across the nation and the hybrid work culture have necessitated project management tools to be well ingrained in the overall software architecture of an organisation. With Projects Plus, which can be easily customised and integrated with other apps, we have brought together key tools like analytics, file management and collaboration, and the option to use blended project management methodologies, creating a value-packed offering not yet available in the market.
“Furthermore, Projects Plus synthesises the latest AI-driven tools, data-first analytics, and privacy-focused protections into software that anticipates the evolving needs of international enterprise organisations, expanding Zoho’s global reach,” said Kehinde Ogundare, Country Head, Zoho Nigeria.
Business Intelligence Leading to Project Democratisation
The shift toward Data-Driven Project Management (DDPM) is transforming how organisations make decisions. Instead of relying on intuition, businesses can now leverage real-time data and analytics to drive efficiency. Projects Plus captures insights across multiple dimensions—including time tracking, budgeting, task completion, and deliverability metrics—helping teams make smarter, data-backed decisions.
Predictive analysis plays a crucial role in this approach, using historical data to forecast risks, estimate project timelines, and anticipate resource needs. By analysing past trends, businesses can proactively plan and mitigate risks before they impact project success. Progress tracking has also evolved beyond traditional static tools like Gantt charts. With real-time dashboards, project managers now have dynamic, up-to-date insights that provide a comprehensive view of project status, allowing them to identify and address bottlenecks as they arise.
Additionally, quality control analytics ensure that every stage of a project meets predefined standards. By continuously monitoring data related to project deliverables, businesses can uphold high-quality outcomes, reducing errors and inefficiencies throughout the project lifecycle. With these enhanced analytical capabilities, Projects Plus enables organisations to shift from reactive project management to a more strategic, data-driven approach that improves execution and results.
Projects Plus integrates Zia, Zoho’s AI engine, to automate complex data analysis and provide predictive insights, helping project managers focus on strategic leadership. By analysing project performance data, businesses can identify inefficiencies and optimise processes, streamlining workflows to improve productivity. AI-powered insights also enable smarter resource allocation by identifying where resources are being underutilised or overburdened. This ensures that the right people are assigned to the right tasks, maximising efficiency across teams.
Forecasting and planning are also significantly enhanced through AI-driven analysis. With more accurate predictions about project timelines, costs, and potential risks, organisations can make proactive adjustments to avoid delays and cost overruns. This results in better project outcomes, improved resource management, and higher overall efficiency.
Pricing and Availability
Projects Plus is available immediately and priced at NGN7200 per user each month, when billed annually—27% lower than combining Projects, Sprints, Workdrive and Analytics when purchased separately. For regional pricing, go to https://www.zoho.com/projectsplus/
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