Business
Federal High Court bars NBC from imposing fines on broadcast stations in Nigeria
A Federal High Court in Abuja, on Wednesday, gave an order of perpetual injunction restraining the National Broadcasting Commission (NBC) from imposing fines, henceforth, on broadcast stations in the country.
Justice James Omotosho, in a judgement, also set aside the N500,000 fines imposed, on March 1, 2019, on each of the 45 broadcast stations.
Justice Omotosho held that the NBC, not being a court of law, had no power to impose sanctions as punishment on broadcast stations.
He further held that the NBC Code, which gives the commission the power to impose sanction, is in conflict with Section 6 of the Constitution that vested judicial power in the court of law.
He said the court would not sit idle and watch a body imposing fine arbitrarily without recourse to the law.
He said that the commission did not comply with the law when it sat as a complainant and at the same time, the court and the judge on its own matter.
The judge agreed that the Nigeria Broadcasting Code, being a subsidiary legislation that empowers an administrative body such as the NBC to.enforce its provisions cannot confer judicial powers on the commission to impose criminal sanctions or penalties such as fines.
He also agreed that the commission, not being Nigerian police, had no power to conduct criminal investigation that would lead to criminal trial and imposition of sanctions.
“This will go against the doctrine of separation of powers,” he said.
Omotosho held that what the doctrine sought to achieve was to prevent tyranny by concentrating too much powers in one organ.
“The action of the respondent qualifies as excessiveness” as it had ascribed to itself the judicial and executive powers.
The News Agency of Nigeria (NAN) reports that the NBC had, on March 1, 2019, imposed the sum of N500, 000 each on 45 broadcast stations in the country over alleged violation of its code.
However, the Incorporated Trustees of Media Rights Agenda had, in an originating motions marked: FHC/ABJ/CS/1386/2021, sued the NBC as sole respondent in the suit.
In the motion dated Nov. 9, 2021 by its lawyer, Noah Ajare, the group sought a declaration that the sanctions procedure applied by the NBC in imposing N500,00Q fines on each of the 45 broadcast stations on March 1, 2019 was a violation of the rules of natural justice.
The lawyer also said that the fines were in violation of the right to fair hearing under Section 36 of the 1999 Constitution (as amended) and Articles 7 of the African Charter on Human and Peoples Rights (Ratification and Enforcement) Act (Cap AQ) Laws of the Federation of Nigeria, 2004.
The group argued that this was so because the code, which created the alleged offences of which the broadcast stations were accused was written and adopted by the NBC, “and also gives powers to the said commission to receive complaints of alleged breaches, investigate and adjudicate the complaints, impose sanctions, including fines, and ultimately collect the fines, which the commission uses for its own purposes.”
They, therefore, sought an order setting aside the N500,000 fines purportedly imposed by the NBC on each of the 45 broadcast stations on Friday, March 1, 2019.
They also sought “an order of perpetual Injunction restraining the respondent, its servants, agents, privies, representatives or anyone acting for or on its behalf, from imposing fines on any of the broadcast stations or any other broadcast station in Nigeria for any alleged offence committed under the Nigerian Broadcasting Code.”
Delivering the judgment, Justice Omotosho decsribed the NBC’s act as being ultra vires.
He held that the fines imposed by the NBC as punishment for commission of various offences under its code were contrary to the law and hereby declared as unconstitutional, null and void.
The judge also made an order of perpetual injunction restraining the commission from further imposing fines on broadcast stations in the country.
Courtesy: (NAN)
Business
ICPC: Dangote must testify in person
The agency said that the Corrupt Practices and Other Related Offences Act, 2000, does not allow proxy representation on criminal matters.It gave Dangote December 29 deadline to appear before it.
File Photo: Aliko Dangote and Farouk Ahmed
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says that Africa’s richest man Aliko Dangote must appear personally before the Commission to testify the corruption allegations against the former against the former Chief Executive of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Farouk Ahmed.
The agency said that the Corrupt Practices and Other Related Offences Act, 2000, does not allow proxy representation on criminal matters.It gave Dangote December 29 deadline to appear before it.
The anti-graft commission conveyed its decision to Dangote’s lawyer, Dr. Ogwu Onoja (SAN), in a December 24 letter.
Onoja had on December 22, gone to the ICPC office to adopt the petition.But in a letter to Onoja by the Chief of Staff to ICPC Chairman, Rouqayya Ibrahim, the commission said it was necessary for Dangote to come in person.
Business
E- Commerce: bitMARTe Launches in Nigeria with Same-Day Delivery, Buyer Protection and Merchant Financing
With its official launch, bitMARTe is now live and open to users across Nigeria, positioning itself as a technology-enabled commerce platform focused on speed, trust, local content and economic empowerment.
Photo: Left to Right: Amaka Onaibre – Legal Counsel, Dr Eke Eke – Chief Executive Officer, Tolulope Ogungbade – Business Manager & Chief Operating Officer.
bitMARTe, a new Nigerian-focused e-commerce platform, has officially launched operations, unveiling a suite of innovative features designed to address long-standing challenges facing online shopping and digital commerce across Nigeria and Africa.
Speaking at the launch, Chief Executive Officer of SpringRock Group and founder of bitMARTe, Dr. Eke Eke, said that the platform was built with a deep understanding of the peculiar realities of the African market, particularly issues around delivery delays, payment security, product quality and access to business capital.
Beyond online marketplace
Dr. Eke emphasised that bitMARTe is not merely an online marketplace but a technology-driven operating system tailored to manage the infrastructural and logistical challenges unique to the region, while delivering services comparable to global e-commerce standards.
One of the platform’s standout innovations is its same-city, same-day delivery service, aimed at restoring consumer confidence in online shopping.

A gap bitMARTe intends to close.
Dr. Eke noted that delivery delays have historically discouraged Nigerians from relying on e-commerce for urgent purchases, a gap bitMARTe intends to close.
The platform also places strong emphasis on promoting Made-in-Nigeria products, offering buyers access to a wide range of locally produced goods without the restrictions commonly seen on other platforms.
This, according to the founders, will enhance affordability while supporting local manufacturers and merchants
To attract early adopters, bitMARTe has rolled out multiple promotional incentives. The first 5,000 users to register on the platform will receive a ₦1,000 gift card, while users who successfully refer others who make purchases will earn ₦1,000 per referral, with no cap on earnings.
First-time buyers will also enjoy additional rewards, creating multiple earning opportunities for active users.

Payment Safety
Addressing concerns around payment safety, Dr. Eke explained that bitMARTe operates a secure escrow-style payment system, ensuring that funds are only released to merchants after buyers confirm receipt and satisfaction using a unique verification code.
This mechanism, he said, provides strong protection against fraud and misrepresentation.
In addition, bitMARTe has established a robust quality assurance framework to ensure product accuracy and integrity. Items that fail to meet stated standards will be removed from the platform, while goods damaged in transit will be replaced at no cost to the buyer.
The company also pledged to investigate and address the root causes of such incidents to maintain high service standards.
bitMARTe’s customer service architecture
Dr. Eke emphasized that bitMARTe’s customer service architecture is deliberately buyer-centric, with centralized handling of interactions to ensure consistency, professionalism and fairness across the platform.
Beyond buyers, bitMARTe is also positioning itself as a growth partner for merchants.
In response to a question on its merchant financing model, Dr Eke disclosed that the platform plans to offer loans to active merchants after six months of operation, based on transaction history, cash flow and conduct on the platform.
He noted that access to affordable credit remains a major obstacle for Nigerian businesses, adding that bitMARTe’s financing model is designed to provide practical and sustainable loan terms, in contrast to the high interest rates typically charged by commercial banks.
Present at the launch
Also present at the launch were Mrs Tolu Ogungbade, Business Manager and Chief Operating Officer of bitMARTe, and Mrs Amaka Onaibre, Legal Adviser, who both reaffirmed the company’s commitment to transparency, compliance and long-term value creation for users and partners.
With its official launch, bitMARTe is now live and open to users across Nigeria, positioning itself as a technology-enabled commerce platform focused on speed, trust, local content and economic empowerment.
Business
Heirs Energies Secures $750 Million Financing from Afreximbank for Expansion
Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank).
The deal was finalized during a signing ceremony in Abuja on December 20, 2025, attended by Tony O. Elumelu, CFR, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman of Afreximbank.

This transaction marks one of the largest financings ever obtained by an indigenous African energy firm, underscoring strong confidence in Heirs Energies’ operational track record, governance, brownfield expertise, and future growth potential.
Since taking over operatorship of Oil Mining Lease (OML) 17, Heirs Energies has implemented a rigorous turnaround strategy, emphasizing production recovery, asset integrity, and efficiency gains.
Through targeted interventions and infrastructure upgrades, the company has shifted from acquisition-focused funding to a sustainable capital structure suited to long-term reserve development.
Production has doubled since acquisition, rising from 25,000 barrels of oil per day (bopd) and 50 million standard cubic feet of gas per day (mmscf/d) to more than 50,000 bopd and 120 mmscf/d currently. All gas output is supplied to Nigeria’s domestic market, playing a key role in supporting national power generation.
The company has also overhauled community engagement and upheld top-tier health and safety standards.

The new Afreximbank facility will fund accelerated field development, production optimization, and strategic growth initiatives, all while adhering to strict capital discipline.Tony O. Elumelu, CFR, Chairman of Heirs Energies, commented: “This transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long-term African capital.
It reflects the successful journey Heirs Energies has taken—from turnaround to growth—and reinforces our belief in African capital working for African businesses. This is Africa financing Africa’s future.
”Dr. George Elombi, President and Chairman of Afreximbank, added: “Afreximbank is proud to support Heirs Energies at this pivotal stage of its growth.
This financing reflects our confidence in the company’s leadership, governance, and asset base, and aligns with our mandate to support African champions driving sustainable economic transformation across the continent.
”The deal highlights Afreximbank’s commitment to empowering indigenous operators capable of advancing energy security, sustainable development, and economic value throughout Africa.

With this funding in place, Heirs Energies is well-positioned for its next growth phase, prioritizing operational excellence, responsible resource management, and lasting stakeholder value.
Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, dedicated to addressing the continent’s energy demands while advancing global sustainability objectives. It emphasizes innovation, environmental stewardship, and community development in the evolving energy sector.
The African Export-Import Bank (Afreximbank) is a Pan-African multilateral institution focused on financing and promoting intra- and extra-African trade, supporting industrialization, trade growth, and economic transformation.
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