News
MTN targets $1 billion from Nigeria, Ghana listing
MTN
MTN could raise a total of US$1bn when it lists on both the Nigeria and Ghana stock exchanges later this year.According to Kofi Yamoah, CEO, Ghana Stock Exchange (GSE) MTN Ghana will officially introduce 35% of its capital into the GSE by the end of Q1 2018.Yamoah said MTN Ghana has already submitted the necessary documents for review. “We believe that at the end of the first quarter, we will see the public offering of this entity take off.”
MTN was supposed to list in 2017, but the process was delayed. The decision to list on the GSE was reached as a condition for the acquisition of a 15-year US$67m 4G license in 2015.
Ebenezer Asante, CEO of MTN Ghana, said, “It’s very clear from the license that 35% of MTN should be moved into Ghanaian hands and since we required the license we have engaged the regulators both in the NCA as well as the Central Bank and also with the Securities and Exchange Commission.”
In Nigeria, MTN has set a June 2018 deadline for its IPO which is expected to be the biggest on the Nigerian Stock Exchange (NSE). The decision to list on the NSE was reached in June 2016 during negotiations on the industry record fine slammed on the operator after it failed to disconnect unregistered subscribers from its network as directed by the Nigerian Communications Commission (NCC).
The NCC recently disclosed that MTN has only paid one-third (N110bn) of the sum (N330bn). Regional media have reported that the company could raise at least N153bn through the local bourse – although the operator has refused to confirm this.
At an NSE briefing on the Nigerian stock market in 2017 and outlook for 2018, Oscar Onyema, CEO of NSE, confirmed the NSE is working with MTN on the listing. The Securities and Exchange Commission (SEC) has also discussed the IPO and how it could be structured.
Former President of the Independent Shareholder Association of Nigeria (ISAN), Sir Sunny Nwosu, believes that the listing could bring about a turnaround in the outlook of the Nigerian stock market and he enjoined the operator to ensure that small investors are able to access the stock.
Bloomberg reported that Standard Bank Group and Citigroup are advising MTN on selling 30% of MTN Nigeria on the NSE.While MTN Nigeria is not commenting on the deal, it recently held a two-day board meeting attended by Group Chief Executive, MTN, Rob Shuter, to discuss the IPO.
Abuja
Senator Ned Nwoko Releases Voter’s Card to Deny Marrying Regina Daniels at 17
Senator Ned Nwoko, 67, has released what he claims to be Nollywood actress Regina Daniels’ voter’s card to debunk widespread claims that he married her when she was 17 years old.
The document, reportedly issued by INEC, lists Regina’s date of birth as 1998, suggesting she was 21 when the couple tied the knot in 2019 not 17, as previously alleged.
Nwoko shared the card on social media in response to Regina’s recent revelation that she was underage at the time of their marriage, alongside new allegations of abuse and drug exposure during their relationship.
In his rebuttal, Nwoko dismissed the accusations as false and malicious, suggesting that Regina’s statements were influenced by “substance-related issues.”
The controversy has intensified following claims of family confrontations and arrests, though no formal legal action has been filed by either side.
Regina, who has presented her international passport showing a 2001 birth year, maintains that she was 17 at the time of their union. The conflicting records have fueled online debates over document authenticity and the couple’s 46-year age gap.
Social media users remain divided, with some defending Nwoko’s evidence, while others question the motive and legality of the marriage. Many commentators have also called for privacy and due process amid the escalating feud.
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Abuja
Your anger misplaced, face those who scammed you — Wike’s aide tackles ex-Naval chief
Lere Olayinka, Senior Special Assistant on Public Communication and Social Media to the Minister of the Federal Capital Territory (FCT), has reacted to the controversy involving former Chief of Naval Staff, Vice Admiral Awwal Zubairu Gambo (retd.), over a disputed plot of land in Abuja.
In a post on his X handle on Wednesday, Olayinka alleged that the retired naval chief was deceived into buying land that had been officially designated for park and recreational purposes, not residential use.
According to Olayinka, rather than directing anger at the Federal Capital Territory Administration (FCTA) for enforcing land-use regulations, the former naval chief should focus on the individuals who sold him the illegal property.
“Vice Admiral Gambo was scammed. He needs to use his military might against the person who sold land meant for park and recreation to him to build duplexes — not FCTA officials carrying out their lawful duties,” Olayinka stated.
He revealed that the land in question was originally allocated to Santos Estate Limited in 2007 for park and recreation purposes.
Olayinka further explained that in 2022, the company applied to the then FCT Minister for approval to convert the land to residential use, but the request was declined. Despite this, the company allegedly went ahead to partition and sell the land to unsuspecting buyers, including the former naval chief.
“Santos Estate Limited had already sold the land to unsuspecting people, including the former Chief of Naval Staff, who is now building duplexes on it,” Olayinka noted.
“Like I said earlier, shouldn’t the former Chief of Naval Staff be more concerned with the person who scammed him, rather than using military might to hold on to a property on which he was duped?” he queried.
Reacting to comments made by Lt. Gen. Tukur Buratai (retd.), former Chief of Army Staff, Olayinka added:
“I read the statement made by the former Chief of Army Staff, Lt. General Tukur Buratai. As Director General of Rotimi Amaechi Campaign, Buratai has done his job.”
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Abuja
Badaru Defends Soldiers, Says No Officer on Lawful Duty Will Be Punished Over Wike Incident
Minister of Defence, Mohammad Badaru Abubakar, has assured that no officer or soldier performing lawful duty will face punishment over the recent altercation between military personnel and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, in Abuja.
Speaking during the ministerial briefing to flag off activities for the 2026 Armed Forces Remembrance Day at the National Defence College, Abuja, Badaru reaffirmed the government’s support for security personnel executing their duties responsibly.
“We will always protect officers and our armed forces personnel on lawful duty. Any officer on lawful duty will be protected if he is doing his job lawfully and if he does it well,” he said.
The assurance comes amid tensions following a confrontation between Wike and a military officer who led soldiers to secure a disputed plot of land in Abuja’s Gaduwa district.
After the incident, a coalition of retired military veterans threatened to occupy the FCT ministry if any disciplinary action was taken against the officer, insisting he acted under a lawful directive.
On National Security Achievements
The Defence Minister also highlighted key achievements under the administration of President Bola Tinubu, noting that the armed forces have recorded major successes in counter-terrorism and internal security operations nationwide.
According to Badaru, within Tinubu’s tenure, troops have neutralised over 13,000 terrorists and criminals, arrested more than 17,000, and rescued nearly 10,000 hostages. He added that over 100,000 Boko Haram and ISWAP combatants and their families have surrendered.
“These coordinated operations have dismantled major terrorist enclaves, neutralised notorious bandit commanders, and restored peace to hundreds of communities, enabling displaced persons to return home,” he said.
Badaru also disclosed that in the South-South region, troops destroyed over 1,900 illegal refining sites, safeguarding vital oil and gas infrastructure.
He emphasized that the military’s growing operational capacity is supported by strategic modernization efforts, including the procurement of Armoured Fighting Vehicles (AFVs), Unmanned Aerial Vehicles (UAVs), and naval vessels.
“The signing of the Defence Industries Corporation of Nigeria (DICON) Act in 2023 marks a milestone in indigenous defence production, positioning Nigeria as an emerging hub for defence technology in the region,” the minister stated.
He further called for collective participation in the fight against insecurity, stressing a “whole-of-society approach” that involves government, civil society, traditional institutions, academia, and the private sector.
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Abuja
Tension in Abuja as Soldiers Block Wike from Accessing Gaduwa Land Linked to Retired Admiral
Federal Capital Territory (FCT) Minister, Nyesom Wike, was on Tuesday prevented by armed soldiers from accessing a disputed parcel of land in the Gaduwa district of Abuja, allegedly owned by retired Vice Admiral Zubairu Gambo, a former Chief of Naval Staff.
The incident, which briefly caused tension, occurred when Wike and a team of senior FCT officials arrived at the site for an inspection amid ongoing efforts to clamp down on illegal land allocations and unauthorized developments across the territory.
Eyewitnesses said that shortly after the minister’s convoy arrived, a group of armed military personnel at the site stopped Wike’s team from gaining access. The soldiers reportedly told the FCT task force that they were acting on orders to “secure the property” on behalf of the retired admiral.
A heated exchange followed, during which Wike expressed anger at the obstruction, insisting that no individual military or civilian was above the law. He accused the soldiers of intimidation and vowed that the FCTA would enforce land use regulations in all parts of the capital, regardless of the status of those involved.
“This is not a military barracks. This is Abuja land that falls under the jurisdiction of the FCT Administration. Nobody, no matter how highly placed, can defy the laws of the Federal Capital Territory,” Wike was quoted as saying.
Sources within the FCTA said the land in question was under investigation for lacking valid development approvals and was marked for enforcement action.
To prevent the confrontation from escalating, the Chief of Defence Staff (CDS), General Olufemi Olatubosun Oluyede, reportedly intervened via phone call, appealing to both parties to allow due process to take its course.
Following the intervention, Wike’s team was barred from inspecting the site, but the minister maintained that the FCTA would not back down in its mission to reclaim illegally acquired lands and ensure compliance with Abuja’s master plan.
The incident shows the growing tension between the FCTA and powerful individuals accused of violating land regulations, as Wike continues his aggressive drive to sanitize land administration in the capital city.
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News
Over 200 Terrorists Killed as Boko Haram, ISWAP Clash in Fierce Turf War Near Lake Chad
More than 200 terrorists were reportedly killed on Sunday during violent clashes between Boko Haram and rival militants from the Islamic State West Africa Province (ISWAP) in the Dogon Chiku area, near the shores of Lake Chad a region notorious for militant activity spanning Nigeria, Niger, Chad, and Cameroon.
The fierce battle, described as one of the deadliest turf wars between the two jihadist factions, erupted over control of key operational corridors used for smuggling, taxation of local traders, and movement across the Lake Chad basin.
According to Agence France-Presse (AFP), the confrontation led to heavy casualties, with ISWAP reportedly losing more than 200 fighters. Several of the group’s boats used in the assault were also seized by Boko Haram forces.
“From the toll we got, around 200 ISWAP terrorists were killed in the fight,” said Babakura Kolo, a member of a vigilante group assisting the Nigerian military.
A Nigerian intelligence source also confirmed the fighting, describing it as “good news,” while putting the death toll at “more than 150.”
The latest violence underscores the ongoing struggle for dominance between Boko Haram and ISWAP two extremist groups that have been locked in brutal rivalry since ISWAP broke away from Boko Haram in 2016. Both factions continue to terrorize communities across the northeastern region of Nigeria and parts of the Sahel.
Once considered the stronger faction, ISWAP has suffered multiple setbacks in recent months. Analysts believe this latest confrontation signals Boko Haram’s renewed bid to reclaim strategic territories around Lake Chad.
In May 2021, ISWAP launched an offensive on Sambisa Forest, Boko Haram’s former stronghold, leading to the death of its notorious leader, Abubakar Shekau, who detonated an explosive vest to avoid capture.
Between December 2022 and January 2023, Boko Haram also carried out major raids on ISWAP bases in Borno State, killing more than 100 fighters and seizing large caches of weapons.
The Lake Chad Basin, once a vast inland sea, has shrunk by over 90% since the 1960s, according to the UN Environment Programme. As the waters recede, new land routes have opened up providing both groups with access points for movement and attacks.
Since the outbreak of the Boko Haram insurgency in 2009, more than 40,000 people have been killed and around 2 million displaced in Nigeria’s northeast, according to United Nations estimates.
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