Business
MultiChoice faces FCCPC tomorrow to defend price adjustments for DSTV, GOtv viewers
Multichoice had in a statement to customers on Monday February 24, titled, “Price adjustment on DStv and GOtv packages,” and signed by the CEO John Ugbe, attributed the price increase to the rising cost of doing business in Nigeria.

The Federal Competition and Consumer Protection Commission (FCCPC) has invited MultiChoice’s Chief Executive Officer for an investigative hearing on February 27, 2025, at its headquarters in Abuja.
The summon is inconnection with Multichoice’s recently announced increase in the prices of its DStv and GOtv packages, set to take effect from March 1, 2025.
In a statement by Ondaje Ijagwu, FCCPC’s Director of Corporate Affairs, the Commission warns: “If MultiChoice fails to provide a satisfactory justification for its pricing strategy or is found in violation of fair competition principles, the commission will take necessary enforcement actions, including sanctions and corrective measures.”
Ijagwu, said that the FCCPC remains committed to ensuring that businesses operate fairly and in line with Nigeria’s consumer protection laws.
Multichoice had in a statement to customers on Monday February 24, titled, “Price adjustment on DStv and GOtv packages,” and signed by the CEO John Ugbe, attributed the price increase to the rising cost of doing business in Nigeria.
The company cited factors such as currency depreciation and high inflation, which have significantly increased its operational expenses.
The new prices are as follows:
DStv Packages: • Compact: From N15,700 to N19,000 • Compact Plus: From N24,500 to N30,000 • Premium: From N29,500 to N44,500 GOtv Packages: • GOtv Value: From N3,600 to N3,900 • GOtv Plus: From N4,850 to N5,800 • GOtv Max: From N6,200 to N8,500 • GOtv Supa: From N9,600 to N11,400 • GOtv Supa Plus: From N13,500 to N16,800
Business
MTN Group says it’s under US investigation

South African mobile operator MTN Group said Monday it was under US investigation over its activities in Iran and Afghanistan, at a time of icy ties between Washington and Pretoria.
Africa’s biggest telecoms company is already facing court challenges in South Africa by Turkey’s Turkcell, which accuses it of winning the Iranian market through corruption.
In 2006, MTN was chosen over Turkcell to become the 49 percent minority shareholder in Iranian government-controlled mobile phone carrier Irancell.
MTN had been made aware of a US Department of Justice (DoJ) grand jury investigation relating to its former subsidiary in Afghanistan and Irancell, the company said in a statement.
“MTN is cooperating with the DoJ and voluntarily responding to requests for information,” said the statement accompanying the group’s financial results.
Grand juries typically decide whether or not to formally lay charges in a case and take it to trial.
The South African multinational is also facing a court case in the United States from US veterans wounded in Iraq and Afghanistan, as well as relatives of soldiers killed in action, the statement said.
“The plaintiffs’ complaints allege that MTN supported anti-American militias in Iraq and Afghanistan .
Business
UBA Secures N5bn BoI MSME fund for disbursement to key sectors
The facility provides a maximum loan amount of N5 million per obligor, with a three-month moratorium on principal repayments, ensuring businesses have ample time to stabilise before they begin to service the loans.

•GMD/CEO UBA), Oliver Alawuba.
United Bank for Africa (UBA) Plc, has secured a N5 billion loan facility from the Bank of Industry (BOI), to boost key sectors of the economy and support the growth of sustainable and viable businesses in the country, especially the micro, small, and medium enterprises (MSMEs) owned by women.
The facility disbursed through the Federal Government’s MSME Fund, is designed to stimulate key sectors of the economy, while offering affordable financing to support businesses, with a primary focus on Green Energy, Education, Healthcare, and Women-Owned Enterprises.
UBA’s Group Managing Director/CEO, Oliver Alawuba, who spoke about the facility emphasised the bank’s commitment to fostering economic growth by empowering MSMEs, which he described as the “livewire of any developing economy.
He said, “At UBA, we recognize the pivotal role MSMEs play in driving economic development, and how they make up a sizeable portion of what drives our economic growth.
It is in this vein that we have decided not to rest on our oars by facilitating initiatives dedicated to empowering businesses with the financial support they need to thrive.”
Alawuba maintained that, “by offering loans at a competitive 9% interest rate with a three-year tenor, we are removing the traditional barriers that hinder SME growth in Nigeria and Africa. And by this, our message to business owners is simple: Don’t let this once-in-a lifetime-opportunity elude you.
”The facility provides a maximum loan amount of N5 million per obligor, with a three-month moratorium on principal repayments, ensuring businesses have ample time to stabilise before they begin to service the loans.
Business
CPPE Proposes Policy Action to Reduce Food Prices
Dr Muda Yusuf, the Director/CEO of CPPE, noted that while progress has been made in moderating headline and core inflation, the persistence of food and month-on-month price increases highlights unresolved structural weaknesses.

The Centre for the Promotion of Private Enterprise (CPPE) says that a coordinated mix of monetary, fiscal, and structural interventions will be required by the Central Bank of Nigeria, and the Ministry of Finance to consolidate recent drops in inflation and steer the economy toward sustained stability.
CPPE suggested in reaction to the July 2025 inflation reported by the NBS
The headline inflation declined for the fourth consecutive month, easing from 22.22% in June to 21.88% in July, a deceleration of 0.34%Month-on-month food inflation also moderated, falling from 3.25% in June to 3.12% in July, while core inflation posted marginal declines year-on-year (-0.03%) and a sharp slowdown month-on-month, from 3.46% to 0.97%.
Dr Muda Yusuf, the Director/CEO of CPPE, noted that while progress has been made in moderating headline and core inflation, the persistence of food and month-on-month price increases highlights unresolved structural weaknesses.
“The July 2025 inflation figures present a mixed outlook for the Nigerian economy, with notable improvements in key indicators but lingering risks that demand policy attention,” he said.
These developments reflect a gradually stabilising macroeconomic environment, supported by exchange rate stability, improved investor confidence, and the lingering impact of import duty waivers on key staples such as rice, maize, and sorghum.
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