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Forfeiture Claim on Airtel Shares False- Subsidiary of Ecobank Group

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O&O Networks Limited, Special purpose vehicle owned by the Ecobank Group has said that contrary to certain media reports, there is no forfeiture order of the Federal High Court of Nigeria in its proceedings that is directed against Ecobank Transnational Incorporate (ETI) or Ecobank Nigeria Limited.

 

O&O Networks Limited is defending long-standing proceedings in the Federal High Court relating to its ownership of shares in Airtel Networks Limited that were once owned by it.

 

The company previously owned by Oceanic Bank, formed part of Ecobank Transnational Incorporated’s (ETI) in 2011 after the acquisition of Oceanic Bank. Legal proceedings were first initiated against O&O Networks Ltd in December 2006 by Broad Communications Ltd (“plaintiff”), in the Federal High Court of Nigeria.

 

A statement released by O&O Networks, pointed out that there is no forfeiture order of the Federal High Court of Nigeria in these proceedings that is directed against ETI or Ecobank Nigeria Limited.

 

According to the statement, there have been no material legal developments in the plaintiff’s substantive claim for monetary compensation since 2017, though a trial date on the substantive merits was recently fixed for May 28, 2019.

 

The statement reads: “Contrary to certain press reports, there is no forfeiture order of the Federal High Court of Nigeria in these proceedings that is directed against ETI or Ecobank Nigeria Limited, and neither ETI nor Ecobank Nigeria Limited has made or is required by law to make any payment to the Federal High Court of Nigeria in relation to this long-standing litigation. There have been no material legal developments in the plaintiff’s substantive claim for monetary compensation since 2017.

 

“In 2006, the plaintiff’s claim was grounded on an alleged right of first refusal over shares in Airtel Networks Limited that O&O Networks owned. The plaintiff claimed ownership of the Airtel shares based on its right of first refusal. In 2017, the plaintiff amended its claim to seek monetary compensation of USD equivalent of Naira 10 billion (approximately US$28 million) in place of its claim of ownership of the Airtel share.

 

” Since the matter was filed in 2006, it has not proceeded to trial on the substantive merits of the claim to date though a trial date on the substantive merits was recently fixed for May 28, 2019.

 

“In August 2018, O & O Networks sold its shares in Airtel Networks Limited for Naira 22.5 billion (approximately US$62.5 million) with the permission of the Federal High Court on 7 June 2018 and subsequently in September 2018, the plaintiff filed an interlocutory application requesting the Federal High Court of Nigeria to grant an order directing O&O Networks to place Naira 22.5 billion (approximately US$62 million) – the entire proceeds of the sale of the Airtel shares and an amount which is significantly in excess of the plaintiff’s total monetary claim – into an escrow account in the name of the Chief Registrar of the court, pending the final determination of the substantive claim. The Federal High Court of Nigeria granted the plaintiff’s interlocutory application on 7 March, 2019.

 

“O&O Networks has filed a notice of appeal and an application for stay of execution to this ruling. O&O Network’s appeal to the interlocutory order is currently pending, and it intends to prosecute the appeal vigorously.

 

“O & O Networks Limited believes the substantive claim of the plaintiff is without merit and will continue to vigorously defend all proceedings – interlocutory and substantive – in relation to the plaintiff’s long-standing claim.”

 


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Telcos Resume SIM Card Sales after 2-Week Halt

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Telecommunications operators have resumed full SIM swap and related services following a four-week nationwide outage linked to the National Identity Management Commission (NIMC)’s migration to a new verification platform.

Telcos Resume SIM Card Sales after 2-Week Halt

The outage rendered millions of subscribers unable to perform SIM-related tasks such as swaps, replacements, and activations.

Operators in the industry say the disruption began on June 26, 2025 when telcos temporarily halted SIM registrations and swaps due to unforeseen technical challenges during the transition to NIMC’s upgraded identity verification system.

The migration was mandated to enhance the integrity and efficiency of national identity management but caused major service interruptions across all Nigerian networks.

However, July 21, both MTN and Airtel confirmed via their social media handles that SIM swap services have now fully resumed.

MTN announced: “SIM swaps have now resumed. We can confirm that NIMC services are fully operational and appreciate their support in the migration to a new platform for NIN verification services for the telecommunications industry.

In a public update issued via its MTN Nigeria Support handle on X (formerly Twitter), MTN confirmed that SIM swaps have now resumed.

Telecom operators complained that the portal was unreliable or inaccessible, which resulted in the suspension of SIM swaps, number porting, and new SIM registrations, even though NIMC maintained that the platform was operating as intended.

Unexpected technical difficulties arose during the switch to the new platform, according to the Association of Licensed Telecommunications Operators of Nigeria.

Real-time NIN verification for SIM registration, replacement, and network migration was impacted by these issues.

“Unexpected technical difficulties have surfaced, impacting real-time NIN verification for SIM registration, replacement, and porting, following a recent directive from the National Identity Management Commission mandating Mobile Network Operators to transit to a new identity verification platform,” ALTON stated in a previous joint statement signed by Gbenga Adebayo, chairman, and Damian Udeh, publicity secretary.

 


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Nigeria, Others Achieve 84% Adult Mobile Phones Penetration

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The World Bank has affirmed that 84 per cent of adults in low-and middle-income economies, including Nigeria, own personal mobile phones.

The bank in its Global Findex 2025 report said mobile phone ownership was widespread and nearly everywhere. It said data from the Global Findex 2025 Digital Connectivity Tracker, revealed that “86 per cent of adults worldwide, and 84 per cent of adults in low- and middle-income economies, own personal mobile phones.”

The report pointed out that mobile phones and the internet had become widespread and essential to daily life in every economy around the world.

A earlier overview had indicated that Nigeria had a high mobile phone penetration rate, with estimates around 85 per cent to 87 per cent in 2024.

This translates to over 200 million mobile connections, making Nigeria a leading market in Africa for mobile phone ownership and usage. While the overall penetration is high, there’s a growing trend towards smartphone adoption, with forecasts predicting over 140 million smartphone users by 2025.

According to DataReporter, a total of 150 million cellular mobile connections were active in Nigeria in early 2025, with this figure equivalent to 64.0 per cent of the total population.

However, note that some of these connections may only include services such as voice and SMS, and some may not include access to the internet.

There were 107 million individuals using the internet in Nigeria at the start of 2025, when online penetration stood at 45.4 percent. Nigeria was home to 38.7 million social media user identities in January 2025, equating to 16.4 percent of the total population.

These headline stats offer a great overview of the “state of digital” in Nigeria at the start of 2025, but in order to make sense of how digital trends and behaviours have been evolving over time, we need to dig deeper into the data.

According to the World Bank, “as of 2024, individual ownership of mobile phones reached 86 per cent of adults worldwide.

“For many people, barely an hour goes by without their using a mobile device to make a call, ext a friend, read the news, access business information, post a meme on social media, pay for something, play a game, engage with a colleague or a customer, or search for information.

“As access to and use of digitally connected technologies increase, people, businesses, and governments place an increasingly high priority on online interactions. “Digitally connected technologies have clear, well-documented benefits.”

It further highlighted that access to mobile phones and the internet was associated with reduced poverty, increased consumption, and more employment for individuals in lowand middle-income economies.

“Women also experience these benefits, as internet access enables access to flexible jobs3 and has been shown to increase female labor force participation. “Mobile phones also facilitate information sharing.

For instance, in agricultural contexts, farmers’ access to real-time prices and buyer demand data can inform their decisions on where to sell, enhancing market efficiency and reducing the distances they would otherwise travel to get the best return for their product and time.

“Internet access also helps create jobs and aids individuals and countries in exporting goods and services,” it added. The World Bank further noted that owning a mobile phone furthermore enabled financial access through mobile money and other mobile financial services.

It added that these financial accounts and services, typically offered by mobile network operators or fintech firms and accessed via networks of local agents, were associated with lower rates of poverty, increased consumption and savings,and greater resilience to economic shocks.


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Sophos Secures Leadership Spot in 2025 Gartner Magic Quadrant for Endpoint Protection

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Sophos, a global leader of innovative security solutions for defeating cyberattacks, today announced that it has been named a Leader in the 2025 Gartner Magic Quadrant for Endpoint Protection Platforms (EPP), marking the 16th consecutive time the company has received this recognition.

Sophos has been recognized in the Gartner Magic Quadrant for Endpoint Protection Platforms (EPP) since the inaugural publication for this category in 2007.

Sophos’ market-leading endpoint security solutions include Sophos Endpoint powered by Intercept X, Sophos Extended Detection and Response (EDR/XDR), and Sophos Managed Detection and Response (MDR).

Over 300,000 organizations trust Sophos endpoint security solutions to defend against cyberthreats, including advanced remote ransomware attacks and active adversaries.

Unique to Sophos, the solution includes adaptive defenses that automatically disrupt attackers by dynamically adjusting protection levels based on threat context.

“Sophos’ strength lies in its prevention-first strategy, designed to stop breaches before they start, adapt defenses in real time, and strengthen detection and response when it matters most,” said Kyle Falkenhagen, SVP, Product Management, Sophos. “We believe that receiving this recognition in the highly competitive endpoint security market for 16 consecutive reports reflects our relentless focus on developing innovative solutions that stay ahead of the global threat landscape and the adversaries we face every day.”

Sophos and Secureworks: The future of protection, detection, and response

Following Sophos’ acquisition of Secureworks in February 2025, combining two leading and complementary portfolios to offer a comprehensive suite of solutions for small, midmarket and enterprise organizations.

Secureworks Taegis XDR customers can use Sophos Endpoint to elevate their cyber defenses, at no additional charge, delivering both improved protection and return on investment.

The integration of Secureworks also adds a new Counter Threat Unit (CTU) to the Sophos X-Ops advanced threat response joint task force, further expanding the rich threat intelligence that informs all customers’ defenses.

Backed by Sophos’ advanced security technologies and a broad network of intelligence contacts and partners, the CTU plays a critical role in identifying and tracking threat actors and analyzing anomalous activity, uncovering new attack techniques, threats, and major shifts in the threat landscape.


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