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)
Urges Deeper Local Investments
President Bola Tinubu has commended corporate Nigeria, investors, and stakeholders in the capital market for propelling the Nigerian Exchange (NGX) beyond the historic ₦100 trillion market capitalisation threshold.
In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described the achievement as a “new economic reality and rejuvenation,” signalling strong investor confidence in Nigeria’s reforming economy.
“With the Nigerian Exchange crossing the historic N100 trillion mark, the country is witnessing the birth of a new economic reality,” President Tinubu said. He highlighted the NGX All-Share Index’s impressive 51.19% return in 2025 — outperforming the previous year’s 37.65% and ranking among the world’s top performers — even as many global markets faced stagnation.
The President noted year-to-date gains surpassing benchmarks like the S&P 500 and FTSE 100, positioning Nigeria as an attractive investment destination rather than a overlooked frontier market.
He praised resilient performances across sectors, from industrial giants localising supply chains to innovative banks, and anticipated further growth with upcoming listings in energy, tech, telecoms, and infrastructure.
President Tinubu linked the stock market’s success to broader reforms yielding macroeconomic stability. Inflation has declined for eight consecutive months, dropping from a peak of 34.8% in December 2024 to 14.45% in November 2025, with forecasts suggesting 12% in 2026 and potentially single digits by year-end.
Nigeria recorded a $16 billion current account surplus in 2024, projected to rise to $18.81 billion in 2026, driven by surging non-oil exports (up 48% to ₦9.2 trillion in Q3 2025) and manufacturing growth. Foreign reserves have exceeded $45 billion, with the naira stabilising and projections to surpass $50 billion in early 2026.
Infrastructure advances, including rail expansions, major highways like Lagos-Calabar and Sokoto-Badagry, and port revitalisation, were also highlighted, alongside improvements in healthcare, education loans via NELFUND, and research funding.
Urging Nigerians to invest more domestically, President Tinubu assured that “2026 will yield even greater returns” as reforms mature. He pledged continued efforts toward a transparent, egalitarian, high-growth economy, bolstered by tax and fiscal changes effective January 1, 2026.
“Nation-building is a process requiring hard work and focus. This ₦100 trillion milestone signals to the world that Nigeria’s economy is robust and productive,” he concluded.
Business
MTN’s 5G subscribers reach 15m
“We are proud to be the first telco to achieve over 82 percent coverage in 4G, and the first to roll out 5H in Nigeria, already reaching an estimated 15 million of the population and counting,”
MTN Nigeria says that its 5G network, has reached an estimated 15 million subscribers across the country.
In a statement, the company linked the growth to its aggressive leadership in 4G/5G deployment and the accelerated rollout of its Fibre-to-the-Home (FTTH) network.
” We are proud to be the first telco to achieve over 82 percent coverage in 4G, and the first to roll out 5H in Nigeria, already reaching an estimated 15 million of the population and counting,” the statement reads.
It added that the drive for connectivity is backed by significant capital spending, stressing that Capex, excluding leases, soared by 248.0% to N757.4 billion.
The firm said that this investment was strategically directed at capacity enhancement to reduce congestion and to deliver ultra-fast broadband to households through FTTH.“Demand for data remains robust, driving a 36.3% YoY increase in data traffic, with average usage per subscriber rising by 20.8% to 13.2GB.
Business
China-Nigeria bilateral trade hits $22.3bn in 2025
“From January to October 2025, bilateral trade exceeded $22.3 billion; this represented a 30.2 percent year-on-year increase,” Yuqing said.
• Consul General of the People’s Republic of China in Lagos, YAN Yuqing
Chinese Consul-General in Lagos, Ms Yan Yuqing, had said China-Nigeria bilateral trade exceeded $22.3 billion between January and October 2025.
Yuqing disclosed this at the Lagos Forum New Year Media Symposium, where she reviewed bilateral relations and outlined prospects for deeper cooperation in 2026
.“Over the past year, China-Nigeria economic and trade cooperation has shown great vitality and strong momentum.
Over the past year, China-Nigeria economic and trade cooperation has shown great vitality and strong momentum.
“From January to October 2025, bilateral trade exceeded $22.3 billion; this represented a 30.2 percent year-on-year increase,” Yuqing said.
She said Nigeria had remained one of China’s major investment destinations in Africa for many consecutive years.
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