Business
DStv Subscription: Court dismisses MultiChoice suit against FCCPC
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.
Business
WEF 2026: Shettima commissions first-ever Nigeria House in Davos
The Vice President noted that although Nigeria House was conceived as a whole-of-government platform, bringing together leadership across trade, investment, foreign affairs, energy, infrastructure, technology, climate and culture, its success would ultimately be driven by private enterprise.
Vice President Kashim Shettima on Monday formally opened Nigeria House, the country’s first-ever sovereign pavilion at the 2026 World Economic Forum in Davos.
Speaking during the commissioning ceremony, Shettima said that nations do not prosper in isolation and stressed that Nigeria’s future growth depends on deliberate, structured engagement with the world.
“For the first time in our nation’s history, Nigeria stands at Davos with a sovereign pavilion of its own,” he said, adding that Nigeria House “reflects our intention, our seriousness, and above all our resolve to take a front-line seat in the discourse of the global economy, not as observers, but as participants with a clear sense of purpose.”
The Vice President noted that although Nigeria House was conceived as a whole-of-government platform, bringing together leadership across trade, investment, foreign affairs, energy, infrastructure, technology, climate and culture, its success would ultimately be driven by private enterprise.
Business
NTA didn’t introduce VAT on charges collected by banks — NRS
The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.
Photo: NRS chairman, Zacch Adedeji
The Nigeria Revenue Service (NRS) has clarified that the Nigeria Tax Act (NTA) did not introduce VAT on banking charges, nor did it impose any new tax obligation on customers in this regard.
In a statement made available to newsmen and signed by Dare Adekanmbi, Special Adviser on Media to the NRS chairman, Zacch Adedeji, the service said the claims are incorrect.
According to the NRS, VAT has always applied to banking services and was not introduced by the Nigeria Tax Act.
The statement reads:
“The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.
This claim is categorically incorrect.
“VAT has always applied to fees, commissions, and charges for services rendered by banks and other financial institutions under Nigeria’s long-established VAT regime.”
Business
LIRS gives employers Jan 31 deadline for filing 2025 tax returns
The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.
The Lagos State Internal Revenue Service(LIRS) fixed statutory deadline of January 31, 2026, for all employers of labour in the state to file their annual tax returns for the 2025 financial year.
The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.
Subair explained that employers are required to file detailed returns on emoluments and compensation paid to their employees, as well as payments made to service providers, vendors, and consultants, and to ensure that all applicable taxes due for the 2025 year are fully remitted.
He emphasised that the filing of annual returns is a mandatory legal obligation and warned that failure to comply would attract statutory sanctions, including administrative penalties, as prescribed under the new tax law.
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