Business
FCCPC files charges against MultiChoice over price hike
The Federal Competition and Consumer Protection Commission has filed charges against MultiChoice Nigeria Limited and its Chief Executive Officer, John Ugbe, for defying regulatory directives to suspend a subscription price hike.
FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, disclosed this in a statement on Wednesday.
On February 27, the FCCPC directed MultiChoice to suspend its planned price increase for DStv and GOtv services pending the conclusion of an investigation into the hike.
However, the company went ahead with the price adjustments on March 1, disregarding the directive.
The regulator said the charges, filed at the Federal High Court in Lagos, were based on three counts: obstructing the Commission’s inquiry, failing to comply with directives, and attempting to mislead the regulatory body.
Part of the statement reads, “Following the blatant disregard for regulatory oversight, the FCCPC has filed charges against MultiChoice Nigeria and John Ugbe at the Federal High Court, Lagos Judicial Division, on three counts of offences under the FCCPA 2018.
“Specifically for willfully obstructing the Commission’s inquiry by implementing a price hike contrary to directives (Section 33(4)), impeding the ongoing investigation by ignoring instructions to suspend the hike (Section 110), and attempting to mislead the Commission by proceeding with the increase without objection (Section 159(2), punishable under Section 159(4)(a) and (b)).”
The Commission described MultiChoice’s actions as a deliberate attempt to undermine regulatory authority, disrupt market fairness, and deny Nigerian consumers the protection guaranteed under the law.
“By disregarding the FCCPC’s directive and implementing the price hike before appearing before the Commission’s investigative hearing on March 6, 2025, MultiChoice has not only flouted regulatory processes but also demonstrated a pattern of conduct that undermines consumer rights and fair competition,” the statement added.
In addition to the legal action, the FCCPC said it is considering further enforcement measures, including sanctions and regulatory interventions, to ensure compliance and accountability.
MultiChoice had earlier informed customers of the impending price review, set to take effect on March 1, 2025, attributing the adjustment to rising costs of delivering premium content.
According to the notice titled “Price Adjustments for DStv and GOtv Packages,” the company said, “Dear Customer, please note that effective March 1, 2025, there will be a price adjustment on all DStv packages.
This is to enable us to continue offering our customers world-class homegrown and international content, delivered through the best technology.
”While the Compact Plus and Premium bouquets will remain at N30,000 and N44,500, respectively, the DStv Compact package is among the subscriptions expected to be affected by the price increase.
Business
President Tinubu Leaves for Kenya, Rwanda and France to Strengthen Strategic Partnerships
At the two summits, President Tinubu will deliver statements highlighting his administration’s ongoing reforms to reposition the nation as a prime destination for investment and growth. He will also hold high-level meetings with top-tier global and African business leaders.
President Bola Ahmed Tinubu will depart Abuja on Saturday, May 2nd, on a visit to Kenya, Rwanda and France.
The itinerary details are provided by Bayo Onanuga,Special Adviser to the President(Information & Strategy), as follows:
” President Tinubu’s first stop will be in France, after which he will depart for Nairobi, Kenya, to attend the Africa-France Summit scheduled to begin next week.
Co-chaired by President Emmanuel Macron and President William Ruto, the summit focuses on energy transition, green industrialisation, digital transformation, restructuring of global financing architecture, and climate action.
President Tinubu’s participation at the summit from May 11- 12 will underscore Nigeria’s unwavering commitment to strengthening strategic partnerships with African nations and the French Republic.
The summit, with the theme – “Africa Forward: Africa-France Partnerships for Innovation and Growth” – will provide a high-level platform for African leaders and their French counterparts to deliberate on critical issues affecting the continent, including economic transformation, climate resilience, infrastructure development, youth empowerment, technological advancement, and peace-building initiatives.
At the end of the Kenyan summit, President Tinubu will depart for Kigali, Rwanda, to attend the annual Africa CEO Forum, taking place between May 14th and 15th.
With the theme “Scale or Fail”, this year’s Africa CEO Forum will be the largest gathering of African private sector leaders, investors, and policymakers, focusing on accelerating economic transformation through shared scale, regional integration, and increased cross-border investment.
Held in partnership with the International Finance Corporation (IFC), the summit brings together over 2,000 top executives and national leaders to debate strategies for building resilient, competitive industries.
At the two summits, President Tinubu will deliver statements highlighting his administration’s ongoing reforms to reposition the nation as a prime destination for investment and growth. He will also hold high-level meetings with top-tier global and African business leaders.
President Tinubu will be accompanied on the trip by some of his ministers and senior aides.
He will return to Nigeria at the end of the Rwanda summit. “
Business
Nigerian Lawmakers Demand Arrest of World Bank Official Calling for Reinstatement of Petroleum Import Licences
Declaring the unnamed World Bank official persona non grata, the Committee gave the Bank 30 days to issue a public retraction and written apology.
The House of Representatives Committee on Petroleum Resources (Downstream) has call for the dismissal and arrest of the World Bank official responsible for the April 7, 2026 Nigeria Development Update, which recommended the reinstatement of petroleum import licences.
The Committee described the recommendation as a reckless move capable of undermining Nigeria’s indigenous refining capacity.
In a formal resolution, the Committee condemned the World Bank report, which claimed that imported petroleum products are 12 percent cheaper than those from the Dangote Refinery.
It rejected the position as contrary to Nigeria’s national economic interest and an unacceptable interference in the country’s sovereign petroleum policy.
Declaring the unnamed World Bank official persona non grata, the Committee gave the Bank 30 days to issue a public retraction and written apology.
It further demanded that the staff member responsible for the report be relieved of their duties and subjected to investigation.
Business
Senate approves Tinubu’s $516.3m loan
The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.
The Senate has approved the $516.3 million loan requested by President Bola Ahmed Tinubu.
The money will be used for the construction of the Sokoto-Badagry Superhighway (Section One, Phase 1A and B).
The approval was given on Wednesday after the Senate considered the report of its Committee on Local and Foreign Debts.
The committee, chaired by Senator Magatagarda Wamakko, recommended the approval of the loan.
The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.
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