Connect with us

News

Etisalat Loan Issue: CBN, NCC To Intervene …Network Firm Dispels Banks Takeover Rumour

Published

on

The Nigeria Communication Commission (NCC) yesterday said the Commission and Central Bank of Nigeria (CBN) had moved to intervene in the Etisalat loan issue.
The Director of Public Affairs of NCC, Mr Tony Ojobo said this in a statement issued in Abuja.
“After a meeting yesterday afternoon in Abuja between the Executive Vice Chairman of  NCC, Prof. Umar Danbatta and the CBN Governor,  Mr Godwin Emefiele and his team, a decision was reached to intervene in the loan issue between Etisalat Nigeria and a consortium of commercial banks.
“The meeting which was held at the CBN in Abuja was convened by the financial regulator at the instance of NCC and the telecom regulator to further deliberate on how best to stop the attempt by the banks to take over Etisalat.
“At the end of the meeting, the CBN agreed to invite Etisalat management and the banks to a meeting tomorrow, Friday, toward finding an amicable resolution,’’ he said.
Ojobo said that the NCC as a regulator of the telecom industry had moved quickly to intervene earlier in the week by reaching out to the CBN because it was convinced of the negative impact such takeover move would have on the industry.
He added that NCC was worried about the fate of the over 20 million Etisalat subscribers and the wrong signals this might send to potential investors in the Telecom industry.
It was reported that on March 8, Etisalat was had been taken over by three banks because of its N541.8 billion debt.
However, our correspondent who spoke with the Head of Public Relations, Etisalat Nigeria, Ms Oluseyi Osuntedo, dispelled the talk that banks had taken over the company.
Osuntedo told newsmen in Lagos that discussions were still ongoing between the banks and the company.
“Discussions are going on; nobody is taking up the company.
“It is not true that we are being picketed, whoever gave the information is not telling the truth,” she said.
A consortium of some foreign and Nigerian banks, including Guaranty Trust Bank, Access Bank and Zenith Bank, have been having a running battle with the mobile telephone operator, over a loan facility totalling 1.72 billion dollars (about N541.8 billion) obtained in 2015.
The banks said their attempt to recover the loan by all means, was fuelled by the pressure from the Asset Management Company of Nigeria (AMCON), demanding immediate cut down on the rate of their non-performing loans.
NCC appears not to be favourably disposed to the takeover proposal as it believed that Etisalat is not only a viable going concern, but also willing and able to negotiate the servicing of its loans.
Etisalat is Nigeria’s fourth largest telecoms operator with about 21 million subscribers as at January 2017, according to the NCC.
Meanwhile, the Head of Public Relations, Etisalat Nigeria, Ms Oluseyi Osuntedo, yesterday dispelled the rumour that banks had taken over the company.
Osuntedo told newsmen in Lagos that talks were still ongoing between the banks and the company.
She said that the company was not being picketed as rumoured by some people, adding that whoever was giving the information was not telling the truth.
“Discussions are going on; nobody is taking up the company.
“It is not true that we are being picketed, whoever gave the information is not telling the truth,” she said.
Our correspondent who visited the company’s Head Office at Banana Island also confirmed that the scenario at the office was calm and business going on as usual.
Reports that Etisalat on March 8 was reported to have been taken over by three banks because of their alleged N541.8 billion debt.
Despite the intervention of the Nigerian Communications Commission (NCC) to broker a peaceful resolution between Etisalat Nigeria and a consortium of banks, it appears the effort may not have yielded a truce.
It said that the consortium of some foreign and Nigerian banks, including Guaranty Trust Bank, Access Bank and Zenith Bank, have been having a running battle with the mobile telephone operator, over a loan facility totalling $1.72 billion (about N541.8 billion) obtained in 2015.
Our correspondent reports that the loan, which involved a foreign-backed guaranty bond, was for Etisalat to finance a major network rehabilitation and the expansion of its operational base in Nigeria.
However, Etisalat failed to meet its debt servicing schedule, agreed since 2016, for which they were reported to the banking sector regulator, the Central Bank of Nigeria, and its communications sector counterpart, the NCC.
Etisalat was said to have blamed its inability to fulfil its obligation to the banks on the current economic recession in Nigeria.
The banks said their attempt to recover the loan by all means, was fuelled by the pressure from the Asset Management Company of Nigeria (AMCON), demanding an immediate cut down on the rate of their non-performing loans.

Continue Reading

News

Diocese of Kalabari Set To  Commence  Kalabari University

Published

on

Newly installed  Bishop of Kalabari Anglican Communion , the Rt Revd. Boma Peter Briggs has  announced plans to  commence  Kalabari University.
Speaking at  the Rededication Service of the Diocese last weekend at the Cathedral Church of St Augustine, Abonnema,  the bishop said the diocese  has decided to put all necessary documentation in order and set up a committee to fast track and kick start  the university at Sama Town in Asari Toru Local Government Area of Rivers State.
He hinted that the university would start with Social Science and Theology for the mean time before further expansion in the future.
The committee members nominated to carryout the task are Sir. Alabo Prof. Kelvin Bob-Manuel, Dame Stella David West, Sir Ngo Martyns- Yellowe, Dame Dr. Barasua Lawrence, Sir Alabo Damiete Jack and Mr. Ayanate Agala,
Dr. Tamunodein Alasia, Bar. Tamunoteinbo N.H Harry, Sir Labomie Fredrick, Madam Sokari Davies and Glory Sokari.
Bishop Briggs also constituted Investment Committee led by Sir Labomie Fredrick, Sir Elekima Ekine, Vice Chairman, Dr. Asweili Kuruye, Secretary, Dr. Sobiobo Awara, Sis. Akaeribi Omugu, Rev Can. Soye Young Itiye and  Sir Alabo Columbus E. Columbus.
Others are Mr. Daboikia Barango, Mr. Krakaye Harry, Sir Alabo Damiete Jack, Sir Alabo Dedeibi Olu- Princewill, Madam Sunjuba Daisy Ekine and Ven. Dr. Isoboye Amabibi.
The last Committee instituted was at his 60 birthday made up of 28 members headed by Dame Stella Abbiye-Suku with Sister Inye Amak- Tariah as Secretary.
The committee was saddle with the responsibility of raising 60million Naira  or a minimum of Six Million Naira, noting that 70 percent of the money raised would be used for Clergy Welfare while the balance of Thirty Percent put into project development.
The Diamond Birthday Celebration comes up on the 21st of February 2026.
His Lordship further appointed the following Ministers as Chaplain into the various Arms of the Church. ACM, Rev. Datubo Emmanuel Agborubere-Jnr, MUWG, Rev. Fanyama Ibieneye
AYF, Rev Dabodein Bekinbo, Sunday School, Rev Sepiribo Pokubo, Knight Council, Rev Can. Ibinabo Taylor -Harry, EFAC, Rev. Awolayeofori Williams and BB Rev Joshua Amah  amongst others .
Bishop Briggs also redeployed Rev Emmanuel Agborubere to St Clement Church, Rev. Sokari to St Peter’s Ibiapu-Ama, Evang. Ikoma Dokubo to St James Degema and Evang. Dumo George to Messiah Anglican Church, Buguma.
By Kevin Nengia
Continue Reading

News

FG Honours 12 Teachers, Reaffirms Commitment To Education Reform 

Published

on

The Federal Government has honoured 12 teachers from across the country with national awards, reaffirming its commitment to strengthening the education sector through improved welfare, incentives, and professional development for teachers.

The awards were presented yesterday at the Nigeria Teachers’ Summit 2026, held in Abuja, where the Minister of Education, Dr Tunji Alausa, stated that the government would sustain reforms aimed at empowering teachers and restoring dignity to the profession.

Alausa explained that the selection process was transparent and merit-based, with three teachers nominated from each of the 36 states and the Federal Capital Territory at both the basic and senior secondary school levels.

From the pool of nominees, 12 teachers; six from basic education and six from senior secondary education, emerged as national award recipients.

Each of the 12 awardees received a cheque of N25m.

The Overall Best Teacher of the Year, Solanke Taiwo from the South-West category, received an additional N25m, bringing his total prize to N50m.

In addition to the cash prize, Taiwo is to receive a brand new car from the Governor of Borno State, Babagana Zulum, as well as a fully furnished two-bedroom flat from the Ogun State Governor, Dapo Abiodun.

Also, the Governor of Kebbi State, Nasir Idris, pledged to give each of the award winners an additional N5 million.

The minister described the awardees as exemplifying professionalism, integrity, innovation and dedication to learners, noting that they represent the best of the teaching profession in the country.

“This is more than a reward. It is a national signal that teaching is a noble, respected, and valued profession in Nigeria,” he said.

Speaking at the summit themed ‘Empowering Teachers, Strengthening the System: A National Agenda for Education Transformation and Sustainability,’ the minister said the recognition of the teachers reflected the FG’s broader education reform agenda under Tinubu’s Renewed Hope Agenda.

“Teachers are the foundation of education, and education is the foundation of national development. No nation can rise above the quality of its teachers.

“No reform, no matter how well designed, can succeed unless teachers are empowered, motivated, supported, and respected,” Alausa said.

He pledged that the government would continue to invest in teachers through structured training, improved career pathways and fair rewards, noting that education remained central to national development.

Under the Renewed Hope Agenda, he said, “sustainable development, economic growth, innovation, and social cohesion depend on a strong and responsive education system and that system depends on teachers.”

As part of this commitment, the minister announced the launch of EduRevamp, a nationally coordinated Continuous Professional Development programme designed to modernise teacher training and improve classroom outcomes.

While the programme is open to teachers in both public and private schools, Alausa said performance-based incentives would be reserved for public school teachers who complete certified training.

“Professional growth must never be restricted. Every teacher deserves access to quality training, modern tools, and updated skills,” he said, adding that incentives would be tied to measurable performance.

He also highlighted complementary initiatives, including the Ignite digital platform to reduce teacher workload, the Diaspora Bridge programme to strengthen STEMM education, and the provision of 60,000 tablets for teachers with zero-data access to approved training platforms.

The minister further announced reforms to the Teachers Registration Council of Nigeria’s digital platform, the expansion of Communities of Practice, and progress on the Accelerated Teacher Training Programme aimed at fast-tracking professionalisation for in-service teachers.

To provide long-term stability, he said the government had introduced a National Teacher Policy to guide teacher development, welfare and professional standards nationwide.

Addressing the award recipients and other educators at the summit, Alausa described the government’s message as “professional growth, dignity in service, and renewed hope,” urging stakeholders to focus on tangible outcomes in classrooms across the country.

In her welcoming remarks, the Minister of State for Education, Professor Suwaiba Ahmad, underscored the central role of teachers in Nigeria’s education reform agenda.

Ahmad said the gathering was both timely and strategic, noting that the quality of any education system is inseparable from the quality, motivation and empowerment of its teachers.

She explained that the theme aligns directly with Nigeria’s current education priorities.

According to her, investing in teachers is the bedrock of sustainable reform and national development.

“Empowering teachers is not an isolated intervention; it is the foundation upon which sustainable education reform is built.

“When teachers are supported, trained, motivated, and valued, the entire system is strengthened, learning outcomes improved, equity expands, and national development is accelerated,” she said.

Describing the summit as a strategic national platform, Ahmad said it was designed to unite key stakeholders to address challenges in the education sector and advance practical reforms.

She noted that the forum brings together teachers, policymakers, education leaders, regulators, unions, development partners and private sector actors to strengthen teaching and learning outcomes nationwide.

In his goodwill message, the National President of the Nigeria Union of Teachers, Audi Amba, described the summit as a historic milestone in the recognition of teachers’ roles in national development.

Nigeria’s education sector has continued to grapple with longstanding challenges, particularly around teacher welfare, access to regular professional development, classroom capacity and infrastructure.

These issues have raised concerns among stakeholders about the quality of teaching and learning in many public schools. At the same time, industrial actions by education unions in recent years have further highlighted the pressures facing educators nationwide.

Continue Reading

News

We Draw Our Confidence From God -Fubara 

Published

on

The Rivers State Government has declared that it draws its confidence from the assurance that God is more than sufficient to guide its leaders, strengthen its institutions, and sustain its communities in peace and progress.

?

?Rivers State Governor, Sir Siminalayi Fubara, made this declaration during the 2026 Holy Ghost Rally organised by the Redeemed Christian Church of God (RCCG) at the Adokiye Amiesimaka Stadium, Port Harcourt, on Sunday.

?

?Speaking through his deputy, Prof. Ngozi Odu, the governor stated that “with the Almighty God on our side, our challenges are surmountable and our future remains hopeful,” noting that the theme of this year’s rally, “The All-Sufficient God,” is both timely and reassuring.

?

This was contained in a statement from the office of the Deputy Governor, signed by the Head of Press, ?Owupele Benebo.

 

?According to Fubara, the theme serves as a powerful reminder that in a world filled with uncertainty, God remains our unfailing source, sufficient in wisdom, strength, provision, and grace.

 

He stressed that when human ability reaches its limit, God’s sufficiency prevails.

?

?The governor commended the Redeemed Christian Church of God for its consistent spiritual impact and unwavering prayers for Rivers State and the nation, expressing appreciation for the Church’s contributions to promoting moral values, unity, and faith in God.

?

?In his sermon, drawn from Genesis 17:1, the General Overseer of the RCCG, Pastor Enoch Adeboye, described the Almighty God, whose name is above every other name, as all-sufficient and capable of meeting every human need.

?

?He noted that the God who created all things also has the power to repair and restore them.

?

?Adeboye explained that while human effort, including medical intervention, may reach its limits, there comes a point where only God steps in to turn situations around, bringing hope where none seemed possible.

?

?In his address, the Pastor in charge of the Rivers Family of the RCCG, Pastor Adesoji Oni, stated that the Port Harcourt Holy Ghost Rally, which began in 2015 and has now become an annual event, has been a tremendous blessing to the people of the State.

?

Adesoji noted that the rally has drawn thousands of souls to God while impacting lives spiritually and physically.

?

?He further disclosed that the Church has gone beyond preaching the gospel to actively engage in impactful initiatives through its Christian Social Responsibility programmes.

?

?These include skills acquisition centres, maternity centres across the State, a rehabilitation centre for persons battling substance abuse, and an Innovative Mind Hub.

Continue Reading

Trending