Business

Federal High Court bars NBC from imposing fines on broadcast stations in Nigeria

Published

3 years ago

May 10, 2023

465 Views

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)

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CBN Holds Benchmark Interest Rate at 26.5% Amid Renewed Inflation Concerns

Published

3 hours ago

May 20, 2026

Charles Flames

22 Views

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent, maintaining the current stance after its two-day meeting that ended on Wednesday, May 20, 2026.

CBN Governor Olayemi Cardoso announced the decision, noting that the committee voted unanimously to hold all key parameters unchanged. The asymmetric corridor around the MPR remains at +500/-450 basis points, the Cash Reserve Ratio (CRR) stays at 45 per cent for commercial banks and 16 per cent for merchant banks, while the liquidity ratio is retained at 30 per cent.

The hold comes as headline inflation rose for a second consecutive month to 15.69 per cent in April 2026, up from previous levels, driven largely by food inflation at 16.06 per cent and higher transportation costs. Cardoso emphasised the need for a cautious and vigilant approach to anchor inflation expectations and safeguard macroeconomic stability.

This decision aligns with analysts’ expectations ahead of the 305th MPC meeting and follows the first rate cut in years implemented in February 2026, when the MPR was reduced by 50 basis points to the current 26.5 per cent.

The CBN Governor highlighted ongoing reforms, exchange rate stability, and efforts to improve food supply as factors supporting the disinflation process, even as global and domestic risks persist. The next MPC meeting is expected in July.

The retention signals the apex bank’s priority on taming inflation while monitoring the impact of previous policy actions on the broader economy.

Business

South African pension fund expresses interest in Dangote IPO

Dangote Group , in a statement shared on its official X handle, underscored increasing attention from African institutional investors towards projects considered critical to strengthening energy security, industrial capacity, food systems and regional economic resilience across the continent.

Published

10 hours ago

May 20, 2026

OCHEFA

43 Views

Photo: Aliko Dangote address representatives of South African pension fund, Tuesday May 19, 2026.

Representatives of South Africa’s Government Employees Pension Fund (GEPF) and the Public Investment Corporation (PIC) visited yesterday the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited , and expressed interest in the upcoming Dangote IPO.

The planned IPO is expected to involve the sale of about 10 percent equity in the refinery through what the Dangote Group has described as a pan-African public offering.

According to the company, African investors and institutions are increasingly looking inward to support large-scale infrastructure projects capable of driving sustainable economic growth and accelerating industrial transformation across the region.

The engagement also comes as the refinery moves closer to its planned Initial Public Offering (IPO), which is expected to open up ownership of the facility to a broader pool of investors across Africa.

The company noted that ongoing engagements with major institutional investors reflect growing recognition of strategic infrastructure as a key driver of Africa’s long-term economic transformation and industrial expansion.

Business

NRS Enforces Unified Tax ID system for all taxable persons in Nigeria

In addition, NRS said that the Tax ID framework would harmonise taxpayer information across all levels of government.

Published

2 days ago

May 18, 2026

OCHEFA

60 Views

Nigeria Revenue Service (NRS), in collaboration with the Joint Revenue Board (JRB) commences the implementation of a new Taxpayer Identification (Tax ID) system for all taxable persons in Nigeria.

The agency announced this via a public notice issued on Monday.

NRS said that the initiative is in line with Sections 6, 7 and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in the country to obtain a Tax ID.

The agency explains that taxpayers will now operate with a single tax identity for all tax-related transactions and engagements across the country.

The NRS added that the initiative would simplify tax compliance processes, including registration, tax filing, and payment procedures.

It also noted that the system would improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection.

In addition, NRS said that the Tax ID framework would harmonise taxpayer information across all levels of government.