Connect with us

Technology

9mobile Sale Suffers Huge Setback as Court Quashes Process?

Published

on

By Dipo Olowookere

The plan to sell 9mobile, formerly known as Etisalat Nigeria, may have suffered a huge setback with a latest development last Friday.

Last week, a Federal High Court in Lagos quashed an ex parte order it earlier granted in July 2017, giving the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) the legal backing to set up an interim board to oversee the sale of the country’s fourth largest telecoms firm.

The board was to stay for six month, when the company was expected to have found a new investor, but this was extended because the process could not be concluded as at December 31, 2017, it was meant to end.

Barclays Africa, which is shopping for a new buyer for 9mobile, has shortlisted five companies from which it is expected to choose winner of the bid.

The five firms are Globacom, Bharti Airtel, Teleology Holdings Limited, Smile Telecoms Holdings and Helios Investment Partners LLP.

But last Friday, the court held that the ex parte order it granted in July last year was a nullity, made without jurisdiction and obtained by misrepresentation of facts and as a result, reversed “all steps taken by it.”

On July 3, 2017, Spectrum Wireless, a shareholder of Emerging Markets Telecommunications Service (EMTS), which owns the 9mobile licence, had lost its bid to stop United Capital Trustees Limited, representatives of the debtors, from taking over the company.

Spectrum claimed UCTL misrepresented facts that alienated its interests in the company.

But the court has now discharged the order and asked UCTL to reverse all steps taken by it since the order was a nullity.

With this new order, the central bank and the NCC may have to start the process of selling 9mobile all over again.

9mobile, while operating as Etisalat Nigeria, obtained a syndicated loan of $1.2 billion from 13 Nigerian banks, but defaulted in its repayment plans.

This led to the lenders attempting to take over the company so as to recover the bad debt, but this was prevented by the CBN and the NCC.

Etisalat Group, the major investor in Etisalat Nigeria, during the process, pulled out of the business and asked that the use of its brand name in Nigeria be stopped.

This necessitated the change of name of Etisalat Nigeria to 9mobile by the new management.

With the latest development, it is not certain what next step the CBN, the NCC, and Barclays Africa would take now.

Meanwhile, as at the time of filing this report, Business Post was unable to reach the parties involved in the sale of 9mobile for comments on Friday’s court order.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Technology

Zoho Unveils Zia Hubs

Published

on

Zia Hubs

A global technology company, Zoho, has launched Zia Hubs, a solution within Zoho WorkDrive that brings new forms of unstructured business data into the company’s broad portfolio of applications and AI services.

Using Zia Hubs, organisations can now present any type of business content to Zoho’s powerful capabilities and services—including agentic AI, comprehensive analysis, and accurate, unified search—regardless of file format or structure.

Zia Hubs brings content intelligence to the company’s unified content management and collaboration platform.

Designed with a high level of user control over what content AI is allowed to access, Zia Hubs enables users to organise project or task-specific content into dedicated hubs within WorkDrive.

Each hub serves as a focused space where Zia, Zoho’s flagship AI, can understand and act on the content stored within. This includes a wide range of formats such as PDFs, documents, videos, and audio files.

The platform automatically organises uploaded content by grouping related information—such as section headings, supporting text, and visuals—to preserve context. For video and audio files, Zia generates transcripts and links key moments to relevant topics, making it easier to pinpoint exactly where something was said.

With Zia Hubs, users can surface the most relevant answers when asked a question, even across different content formats. Each response includes clear citations that link back to the original content, whether it is a document, spreadsheet, image, or a specific moment in an audio or video file.

Organisations can also create custom workflows with Zoho Flow, automating document storage processes for particular projects or specific teams. This ensures that Zia always has access to the latest necessary documents automatically.

Furthermore, content from third-party software—such as Docusign PDFs, RingCentral call logs, Zoom video files—are all readable by Zia, and can be automatically placed into a hub by building a workflow with Zoho Flow.

Commenting on this, the Country Head of Zoho Nigeria, Mr Kehinde Ogundare, said, “According to IDC, 80 per cent of business data is unstructured.

“Most unstructured data is text-based, meaning pertinent information lives within email conversations, social media posts, word processor documents, or audio and video transcripts.

“With Zia Hubs built into the full product suite, Zoho can provide customers with a deeper integration than any comparable software platform and nearly limitless potential uses for their data.”

Continue Reading

Technology

IHS Nigeria to Support Nigeria Raise Next Tech Giants

Published

on

Ilorin Innovation Hub

By Modupe Gbadeyanka

A leading telecommunications infrastructure provider, IHS Nigeria, has promised to support the country produce future unicorns.

The company gave this commitment at a virtual town hall session organized by the Ilorin Innovation Hub with the theme From Ilorin to the World: Building a Globally Recognized Technology Hub.

The Senior Vice President and Chief Operating Officer of IHS Nigeria, Mr Kazeem Oladepo, said the Ilorin Innovation Hub would be transformed into a leading destination for talent and technology development across North-Central Nigeria.

“We see the Ilorin Innovation Hub as a platform to attract top talent—not just from Ilorin, but from across the region’s tertiary institutions and tech ecosystem.

“This is an opportunity to build globally impactful companies by harnessing local brilliance with global insight,” Mr Oladepo stated.

Responding to a participant’s question on how individuals could contribute towards the growth of the hub, he encouraged industry experts present to engage directly with the hub’s program managers – future Africa and Cc-Hub, provide mentorship, and help in aligning the training modules with local and global market realities.

“IHS is already investing financial, technical, and intellectual resources into the Hub. But to truly thrive, we need champions within the ecosystem—mentors who’ve built real businesses—to guide young people as they develop transformative ideas,” he noted.

He called for the inclusion of successful professionals and entrepreneurs in the platform’s activities to ensure relevance and adaptability.

“Let’s bring in those who’ve succeeded in fields like e-commerce, logistics, Healthtech, and Data Mining. Their insights can help refine the Hub’s programs and ensure participants extract real value,” Mr Oladepo stated.

Also, the chief executive of Ilorin Innovation Hub, Mr Temi Kolawole, described the town hall as a homecoming for top minds with roots in Kwara State.

“This is a convergence of visionaries—people who’ve built, scaled, and invested in world-class companies—now giving back to shape a collective future.

“Our partnership with IHS Nigeria exemplifies what’s possible when public sector ambition meets private sector expertise,” he noted.

Continue Reading

Technology

Meta to Roll Out WhatsApp Monetisation Features

Published

on

WhatsApp Self Messaging Feature

By Modupe Gbadeyanka

Three new features have been added to WhatsApp by Meta to enable users to monetise the popular messaging platform.

A statement from the social media giant disclosed that these new features would allow creators, businesses, and organisations earn from their content under the Updates Tab.

It listed the three updates as channel subscriptions, promoted channels, and Ads in status.

With the latest development, WhatsApp users can ask their clients to subscribe to their channels for exclusive updates.

“We’ve been talking for years about how to build a business on WhatsApp in a way that doesn’t interrupt personal chats. We believe the Updates tab is the right place to introduce that,” Meta said.

“Subscriptions, promotions and ads will appear only on the Updates tab, away from your personal chats. This means if you only use WhatsApp to chat with friends and loved ones, there will be no change to your experience at all,” the company added.

Meta further said, “The Updates tab is where you discover something new on WhatsApp – whether that’s a friend’s status from their wedding day or a creator’s entertaining channel – and it’s now used by 1.5 billion people per day globally. Now the Updates tab is going to be able to help Channel admins, organizations and businesses build and grow.”

“We’ll be rolling this out slowly over the next several months, though for businesses and Channel admins looking to get started,” it said.

Continue Reading

Trending

https://businesspost.ng/DUIp2Az43VRhqKxaI0p7hxIKiEDGcGdois8KSOLd.html