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Tech investor, Victor Asemota, debunks Tinubu’s claim of bringing ECONET to Nigeria

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Speaking at the just concluded screening of presidential aspirants of the All Progressive Congress, Bola Ahmed Tinubu, former governor of Lagos State and party founder, claims to have played a role in building the telecoms industry in Nigeria by bringing Econet Wireless (now Airtel) to Nigeria.

However, tech investor, Victor Asemota has moved to debunk Tinubu’s claim, stating that Lagos State was only involved in its founding through the acquisition of secondary shares after much deliberations had taken place.

According to Asemota Tinubu didn’t even commit to Cybertel (Econet’s founding trading name in Nigeria) initially. until after Delta State, Oceanic and David Edevbie did the major work.

Highlighting his contribution to the development of the telecoms industry, Bola Ahmed Tinubu said “There are three highways in the development of a nation. If you have gas or supplying diesel, electricity transmission is also a highway and communication.

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“I could remember that I brought Eron to this nation. Telecommunication is now a success today in Nigeria. I brought Econet. I helped them; they now want to adopt 5G; we started it. 

“Nigeria is rich. The essence of our livelihood must be placed on short-term and medium-term values. They must produce values for us,”

Disagreeing with Tinubu’s claim, Victor Asemota, who also worked at Econet during its early days gave his account of how Econet Wireless came into Nigeria.

He said, “My uncle held a party for Tony Anenih Jr. after his wedding in 2000 in Benin City.

“Many of the new state governors were in town and came for the party. He got five of them into his bedroom and pitched a company called ‘CyberTel’, which was supposed to bid for a GSM license 

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“Only Delta State was very keen on it. The others told us that they would get back. Cybertel merged into the consortium called First Independent Networks Limited, which was started by Bolaji Balogun and his team at City Securities Limited. It was a harrowing period”.

He added that he had to travel to Delta and Akwa Ibom to ensure the commitment of the state as FINL was supposed to hold 60% of the license holding company, and 40% went to the foreign partner.

We later selected a small company from Zimbabwe called Econet because we felt it was easier,” he said.

 

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He also revealed that “Econet was supposed to bring 40% of the license money and the technical know-how. We had the equity agreement as a shareholder, and technical services agreement as operator of the license. That 40% never came. It was excuse after excuse. We finally had to go back to the states. 

“The initial structure we had proposed was for the licensed entity, Econet Wireless Nigeria (EWN) owned by FINL and the technical partner to own 60% of the operating entity Econet Wireless Mobile (EWM) and the remaining 40% coming into that entity from states like Delta and AKSG.”

Asemota revealed that when the 40% from the operator wasn’t coming and other shareholders were leveraged to the hilt, state governments were allowed in to buy secondaries from existing shareholders who had covered the initial $285m license fee they didn’t bargain for, which caused the Shareholders approached states.

 

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He said OANDO was also a shareholder, stating that Wale Tinubu (Oando founder) got Lagos State to buy their secondaries and come in. “That was the extent of the Lagos State involvement in the deal. His relative was the state governor, and it made it easier for OANDO to convince them. Tinubu didn’t even commit to Cybertel initially. Delta State and Oceanic saved ECONET. David Edevbie saved us all,” he said.

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Davido declares support for Asue Ighodalo in Edo governorship race

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Davido supports Asue Ighodalo

Nigerian superstar Davido has publicly declared his support for Asue Ighodalo, the People’s Democratic Party (PDP) governorship candidate in Edo state. Davido shared a ThisDay cover featuring Ighodalo on his Instagram Story, expressing his endorsement ahead of the election.

 

Nigerian Afrobeats superstar, David Adeleke, popularly known as Davido, has officially declared his support for Asue Ighodalo, the People’s Democratic Party (PDP) governorship candidate in Edo state.

Davido took to Instagram to show his endorsement by posting a ThisDay cover featuring Ighodalo.

 

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Also read: ‘You’ve missed your generation’s blessing’, Davido tells barber who called him 003

 

Captioning the post, Davido referred to Ighodalo as “The next governor of my mother’s homeland,” highlighting his late mother, Veronica Adeleke’s, Edo state roots.

This show of support comes after Davido’s uncle, Osun State Governor Ademola Adeleke, arrived in Benin as part of a PDP delegation attending a significant rally in support of Ighodalo.

Prominent figures, including musicians Banky W, Adesua Etomi, and actors Etinosa Idemudia and Charles Inojie, have also voiced their backing for Ighodalo.

Political heavyweights like former vice president Atiku Abubakar and former Cross River governors Liyel Imoke and Donald Duke have also joined in supporting the PDP candidate.

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The Edo state governorship election, slated for September 21, 2024, will see Ighodalo competing against Monday Okpebholo of the All Progressives Congress (APC) and Olumide Akpata of the Labour Party (LP), as the current governor, Godwin Obaseki, prepares to finish his final term in office.

ALSO READ  Edo PDP, APC, LP battle primary crises ahead of gov election

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PDP candidate Asue Ighodalo sues Adams Oshiomhole for N20 billion over defamatory comments

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Asue Ighodalo sues Adams Oshiomhole

PDP governorship candidate Asue Ighodalo has sued Senator Adams Oshiomhole for N20 billion over false and defamatory comments regarding the Planwell scheme.

 

Asue Ighodalo, the Peoples Democratic Party (PDP) candidate for the upcoming Edo State governorship election, has filed a N20 billion lawsuit against Senator Adams Oshiomhole.

The suit, which was lodged through his counsel Ayo Asala (SAN) & Associates, demands an immediate retraction and public apology for defamatory comments made by Oshiomhole regarding Ighodalo’s alleged involvement in the Planwell pyramid scheme.

 

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Also read: I never knew Asue Ighodalo until recently – APC candidate Okpebholo

 

Oshiomhole made the claims during a campaign rally on September 14, 2024, alleging that Ighodalo participated in the fraudulent scheme, which defrauded many Nigerians.

Ighodalo has described the statements as false, baseless, and malicious, stating they were fabricated to damage his reputation and advance the political interests of Oshiomhole’s party and candidate.

In a letter dated September 16, 2024, Ighodalo’s lawyers demanded that Oshiomhole retract his statements in two national television networks and three widely circulating newspapers, in addition to paying N20 billion in damages.

The lawsuit highlights the growing tension between the two political figures ahead of the September 21 governorship election.

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INEC rejects PDP’s call to redeploy REC Anugbum Onuoha amid controversy

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INEC Rejects PDP’s Call to Redeploy REC Onuoha

INEC has denied the PDP’s request to redeploy REC Anugbum Onuoha, despite concerns over his ties with the Minister of the FCT.

 

INEC Rejects PDP’s Call to Redeploy REC Onuoha: The Independent National Electoral Commission (INEC) has firmly rejected the Peoples Democratic Party (PDP)’s demand to redeploy Resident Electoral Commissioner (REC) Anugbum Onuoha.

The PDP’s call follows concerns over Onuoha’s relationship with the Minister of the Federal Capital Territory, Mr Nyesom Wike.

 

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Also read: Gov poll: INEC resumes voter registration in Edo, Ondo

 

The controversy surrounding Onuoha intensified after Wike, who is in conflict with Governor Godwin Obaseki of Edo State, supported Obaseki’s second-term bid when he joined the PDP.

The PDP and Obaseki fear that Onuoha might influence the upcoming elections in favour of the All Progressives Congress (APC).

Edo State PDP chairman Anthony Aziegbemhin submitted a formal protest to INEC Chairman Mahmood Yakubu, requesting Onuoha’s redeployment.

The letter highlighted Onuoha’s close ties with Wike and his previous role as Wike’s Commissioner and Special Adviser for Lands, Survey, and Housing.

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In response, INEC’s Chief Press Secretary, Rotimi Oyekanmi, stated that Onuoha will not be redeployed. Oyekanmi urged the PDP to focus on the election process rather than the REC.

“The REC for Edo State will not be redeployed. The governorship election will be conducted on September 21, 2024, in 4,519 polling units, not in the REC’s office,”

he said. Oyekanmi emphasised that results would be declared by Presiding Officers in the presence of accredited party agents and stakeholders.

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