News
MTN Group buys IHS Towers for $6.2bn
Chairman and CEO of IHS Towers, Sam Darwish, described the agreement as a compelling opportunity to crystallise value built over the company’s 25-year history.
MTN Group has reached an agreement to acquire IHS Towers, one of the world’s largest independent owners and operators of shared telecom infrastructure, in an all-cash transaction that values the company at an enterprise value of approximately $6.2 billion.
The deal follows weeks of negotiations between both parties.
Under the terms of the merger agreement, IHS shareholders will receive $8.50 per ordinary share in cash, representing a 36% premium to its 52-week volume-weighted average price, and a modest 3% premium to its unaffected closing price of $8.23 on February 4, 2026.
Chairman and CEO of IHS Towers, Sam Darwish, described the agreement as a compelling opportunity to crystallise value built over the company’s 25-year history.
“Today’s announcement creates a compelling opportunity that provides certainty and immediate returns for our shareholders, enabling them to crystallize the significant value generated during our strategic review.
The proposed transaction deepens our long-standing partnership with MTN, as it combines Africa’s largest mobile network operator with one of its largest digital infrastructure platforms, and underscores the strong connection between IHS Towers and the African continent,” he said.
MTN’s Group President and CEO, Ralph Mupita, said the transaction would strengthen the company’s strategic and financial position as digital infrastructure becomes increasingly central to economic development on the continent
For IHS customers and partners across the continent, we commit to continuing high standards of service and the right governance of what is the largest standalone and integrated tower company in Africa, enabled by the excellent people within HIS,” he said.
IHS Towers’ Board of Directors has unanimously approved the transaction and recommended it to shareholders.
Meanwhile, J.P. Morgan is acting as financial advisor to IHS Towers, and Latham & Watkins LLP and Walkers (Cayman) LLP are acting as legal counsel to IHS Towers.
BofA Securities and Citigroup Global Markets Limited are acting as financial advisors to MTN; Cravath, Swaine & Moore LLP are acting as legal advisors.
News
Commotion In National Assembly Over Fire Outbreak
It took the swift intervention of senator Asuquo Ekpenyong from Cross River South and Senator Salihu Mustapha to quench the fire building up in the kitchen compartment of the Senate hearing room 107.
Image: National Assembly, Abuja
A fire outbreak in the Senate wing of the National Assembly was quickly put out on Wednesday; stopping it from spreading any further.
It took the swift intervention of senator Asuquo Ekpenyong from Cross River South and Senator Salihu Mustapha to quench the fire building up in the kitchen compartment of the Senate hearing room 107.
The Senate Committee on Niger -Delta Development Commission, NDCC chaired by Senator Ekpenyong had just concluded the screening exercise of Dr. Zainab Marwa as the member representing, Northeast on the board of the commission when smoke from the fire rapidly covered the scene of incident.
It was subsequently gathered that the fire emanated from a micro-wave left on in the kitchen.
In the brief commotion; Senator Ekpenyong’s swift intervention ensured that the fire was quickly put out.SOT
News
President Tinubu Commissions new EFCC office in Ekiti
Earlier, EFCC Chairman Ola Olukoyede described the commissioning of the Ekiti Zonal Directorate as a landmark development that would enhance the Commission’s presence and effectiveness in the region.
• EFCC Ekiti Office commission by Vice President Kashim Shettima, Tuesday, June 9, 2026.
President Bola Ahmed Tinubu has commissioned the new Economic and Financial Crimes Commission (EFCC) Zonal Directorate office in Ado-Ekiti.
Represented by Vice President Kashim Shettima at the commissioning ceremony on Tuesday, President Tinubu said that the state-of-the-art facility reflects the Federal Government’s commitment to strengthening institutions responsible for fighting corruption and economic crimes.
The President commended EFCC Chairman, Ola Olukoyede, as well as the management and staff of the Commission for their efforts in enhancing the agency’s operational capacity and expanding its reach across the country.
According to him, the new office will improve the Commission’s effectiveness in tackling corruption, financial crimes and related offences, while bringing anti-graft operations closer to the people of Ekiti and Ondo States.
Earlier, EFCC Chairman Ola Olukoyede described the commissioning of the Ekiti Zonal Directorate as a landmark development that would enhance the Commission’s presence and effectiveness in the region.
He noted that the facility would help close operational gaps in the Commission’s coverage of Ekiti and Ondo States while improving engagement with local communities in the fight against corruption.
An Improvised Explosive Device (IED) exploded on the Anka-Bagega road on Tuesday, killing one person and injuring seven others.
The blast struck a commercial Volkswagen Golf 3 Wagon carrying passengers travelling from Bagega village to Anka town. One passenger died on the spot, while the seven injured victims are receiving treatment at a primary healthcare facility in Bagega.
The explosion also caused significant damage to the vehicle, sparking fresh security concerns among commuters using the route.
This incident comes barely a month after a similar IED explosion occurred along the same road.
Zamfara State Commissioner of Police, Ahmad Bello, confirmed the attack. He said joint security forces have been deployed to assess the situation, clear the affected area, and restore normalcy on the route.
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