Business

DStv Subscription: Court dismisses MultiChoice suit against FCCPC‎‎

Published

1 year ago

May 8, 2025

506 Views

The Federal High Court in Abuja has dismissed a suit filed by MultiChoice Nigeria, the parent company of DStv and GOtv, challenging the Federal Competition and Consumer Protection Commission’s (FCCPC) intervention following a recent hike in subscription cost.

‎‎In the judgment, Justice James Omotoso ruled that the suit constituted an abuse of court process as similar proceedings were already pending elsewhere.

‎‎The judge stressed that MultiChoice should have pursued its arguments in that court. He said if that was done it would have rendered the suit at the Federal High Court procedurally inappropriate.

‎‎Justice Omotoso noted that while the Commission has investigative powers under its establishing Act, it, however, lacks the authority to fix or suspend prices unless as delegated by the President through a gazetted instrument. No such delegation was presented to the court.‎‎

“The power to fix prices is exclusively that of the President. Any decision taken without such delegation is a nullity,” the judge stated.

‎‎He added that because Nigeria operates a free market system, service providers like MultiChoice have the right to set their prices, with consumers free to accept or reject them.‎‎

The judge further ruled that FCCPC’s actions, including directing MultiChoice to suspend its price increase, is in breach of the company’s right to fair hearing and appeared selectively targeted.

He dismissed the FCCPC’s claim that MultiChoice held a dominant market position, calling the argument untenable.

‎‎“The use of services like those provided by the plaintiff is discretionary and not essential. Nigeria can do without it,” Justice Omotosho added.

The judge thereby warned that attempts to fix prices by regulatory bodies could scare off potential investors and harm the economy.

‎‎The court held that while the FCCPC may investigate market practices, it cannot impose price controls without proper legal backing.‎‎

MultiChoice had increased subscription rates by up to 25% on March 1, 2025, citing inflation and the attendant rose in operational cost. ‎‎

Following public outcry, the FCCPC opposed the move, calling for regulatory review and threatening sanctions, prompting the lawsuit.‎

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Exchange Rates Today, Wednesday 10 June, 2026

Black Market Rates
US Dollar (USD) Buy ₦1,390 Sell ₦1,400
Great British Pound (GBP) Buy ₦1,855 Sell: ₦1, 875
EURO (EUR) Buy ₦1,000 Sell ₦1, 100

Published

25 minutes ago

June 10, 2026

OCHEFA

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Official CBN Exchange Rates

US Dollar (USD) ₦1,360.55

Great British Pound (GBP) ₦1,823. 00

EURO (EUR) ₦1,873.61

SWISS FRANC (CHF) ₦1,709. 02

JAPANESE YEN (JPN) ₦8.49

CHINESE YUAN (CNY) ₦200.92

West African CFA (XOF) ₦2.40

West African Unit Account (WAUA) ₦1,856. 66

SAUDI RIYAL (SAR) ₦362. 38

SOUTH AFRICAN RAND (ZAR) ₦82.71

Black Market Rates

US Dollar (USD) Buy ₦1,390 Sell ₦1,400

Great British Pound (GBP) Buy ₦1,855 Sell: ₦1, 875

EURO (EUR) Buy ₦1,000 Sell ₦1, 100

South African Rand (ZAR) Buy ₦75 Sell ₦90

UAE Dirham Buy ₦350 Sell ₦370

Chinese Yuan Buy ₦180 Sell ₦200

Ghana Cedi (GHS) Buy ₦100 Sell ₦115

West African CFA Buy ₦2,450 Sell ₦2,550

Central African CFA Buy ₦2,320 Sell 2400

Australian Dollar Buy ₦800 Sell ₦900

Credit: CBN I Aboki Forex

Business

Invest in Lagos 3.0 Summit Attracts more than 600 delegates

Ohibaba.com reports that the summit, themed “Lagos: The Business Gateway to Africa,” featured presentations from representatives of the Presidency and the governors of Lagos, Imo, Abia, Plateau, Taraba and Nasarawa states.

Published

4 hours ago

June 10, 2026

OCHEFA

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• Representatives of government and private sector delegates at the summit

Invest in Lagos 3.0 Summit attracted more than 600 delegates—including global institutions, sovereign wealth funds, development finance institutions and trade networks.

The host governor, Babajide Sanwo-Olu, called for increased private sector investment in rail transport, energy, agriculture, agro-processing and water infrastructure.

He said that addressing transportation challenges would unlock Lagos’ economic potential, reduce travel time, boost productivity and improve returns on investment.

Minister of Finance, Dr. Taiwo Oyedele, assured investors of the Federal Government’s commitment to creating a conducive business environment through ongoing fiscal reforms. He said the new tax law has eliminated multiple taxation, improved compliance and provided relief for small and medium enterprises.

Oyedele added that stamp duty collection has been transferred to state governments and commended states that have adopted harmonised tax systems.

Business

UBA wins 2026 ‘Banker Technology’ award for AI innovation

UBA’s recognition centres on integrating Leo, its AI-powered chatbot, with the Pan-African Payment and Settlement System (PAPSS), enabling customers to send funds across borders in local currencies via a conversational interface.

Published

5 hours ago

June 10, 2026

OCHEFA

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United Bank for Africa (UBA) Plc, has been named the winner of the African category at the 2026 Banker Technology Award

In its assessment of UBA’s winning entry, The Banker noted that “the bank has cemented its status as a leading digital operator by placing technology at the centre of its growth strategy across more than 20 countries, with this approach most visible in its work on cross-border transfers, spanning digital payments, AI-driven engagement, and e-business”

UBA’s Executive Director Designate, Digital Banking, Emmanuel Lamptey, received the award on behalf of the bank.

He emphasised that the bank’s aim to fully digitise banking across the entire continent“.

” Africa’s financial future will not be built on branches or borders. It will be built on intelligence, interoperability, and trust at scale,” Lamptey said.