April 2024 - Page 2 of 6 - Business Metrics

NCC Directs Telcos on Tariffs Transparency

Operators Urge Govt to Save $75.6BN Telecoms Sector from Threats

Telecoms operators in Nigeria have cried out over various bottlenecks confronting the $75.6 billion worth industry, tasking the federal government to come to their aid. A...

Court Fines Multichoice N150m over Tariff Hike, Orders One Month Free Subscription The Competition and Consumer Protection Tribunal has fined the prominent Pay-TV operator, Multichoice Nigeria, owners of DSTV, GOTV, N150 million for disputing the court’s jurisdiction, and ordered the company to provide Nigerians with a one-month free subscription to its subscribers. A three-man panel led by Thomas Okusu gave the verdict on Friday. The tribunal had previously blocked Multichoice from raising subscription fees without proper notice, based on a lawsuit by Barrister Festus Onifade who claimed the eight-day notice given for the price increase was inadequate. Onifade had sued DSTV, accusing the Pay-TV of unjustly increasing subscription fees without one month’s notice to customers and leveraging on it to seek interim orders. Counsel for Multichoice had contended that previous rulings had settled price regulation issues, while Onifade focused on the inadequate notice rather than the price hike itself, prompting the tribunal to affirm its jurisdiction and rule against Multichoice. Court Fines Multichoice N150m over Tariff Hike, Orders One Month Free Subscription The Competition and Consumer Protection Tribunal has fined the prominent Pay-TV operator, Multichoice Nigeria, owners of DSTV, GOTV, N150 million for disputing the court’s jurisdiction, and ordered the company to provide Nigerians with a one-month free subscription to its subscribers. A three-man panel led by Thomas Okusu gave the verdict on Friday. The tribunal had previously blocked Multichoice from raising subscription fees without proper notice, based on a lawsuit by Barrister Festus Onifade who claimed the eight-day notice given for the price increase was inadequate. Onifade had sued DSTV, accusing the Pay-TV of unjustly increasing subscription fees without one month’s notice to customers and leveraging on it to seek interim orders. Counsel for Multichoice had contended that previous rulings had settled price regulation issues, while Onifade focused on the inadequate notice rather than the price hike itself, prompting the tribunal to affirm its jurisdiction and rule against Multichoice. The court subsequently fixed July 3 for a hearing of the plaintiff’s substantive suit.

Technology8 months ago

Multichoice Increases DStv, GOtv Subscription Rates, Blames Rising Cost Of Business

Satellite broadcasting company, Multichoice, has jacked up the prices of its offerings in Nigeria four months after its last increment. According to an email sent to...

FG Grounds Dana Air Operations after Lagos Airport Incident

Aviation8 months ago

FG Grounds Dana Air Operations after Lagos Airport Incident

The Minister of Aviation, Festus Keyamo, has suspended Dana Airline operations due to concerns surrounding the safety and financial viability of their operations. The ministry, through...

Transport Stakeholders Canvass Increased Safety Education for Drivers and Riders

General8 months ago

Transport Stakeholders Canvass Increased Safety Education for Drivers and Riders

PRESS RELEASE Transport stakeholders drawn from the Lagos State Ministry of Transportation, Nigerian Police Force, and the ride-hailing company inDrive have agreed to join forces in...

Economy8 months ago

The Nigerian Insurance Industry: Navigating the Turbulent Terrain

In the dynamic landscape of the Nigerian insurance industry, the journey towards sustainable growth and development has been marked by challenges and opportunities alike. As the...

NGX Defies Odds to Post N1.4 Trillion Gain in August

Markets8 months ago

Strategies for Investing amid Rising Inflation and Performance Outlook Analysis

By Gilbert Ayoola As the global economy faces the challenges of rising inflation, investors around the world are seeking opportunities to safeguard and grow their wealth....

Banking8 months ago

INSIGHT: Implications and Benefits for Banks as CBN Reduces LDR

By Gilbert Ayoola The Central Bank of Nigeria (CBN) recently issued a directive instructing all Deposit Money Banks (DMBs) in the country to reduce their Loan-to-Deposit...

Banking8 months ago

First Bank Appoints Olusegun Alebiosu as Acting MD/CEO

First Bank of Nigeria Holdings Plc has announced Dr Adesola Adeduntan’s resignation as the Managing Director/Chief Executive Officer of its flagship subsidiary, First Bank. In a...

NGX Rebounds with N295 Billion Gain on Bargain Hunting

Economy8 months ago

Stock Investors Gain N71BN to Commence Week

The Nigerian stock market returned stronger on Monday as investors raked in N71 billion to commence the week driven primarily by rally in some banking stocks....

General8 months ago

Climate Action Africa Announces Opening of Applications for CAAF24 Deal Room

Climate Action Africa (CAA), a leading advocate for climate resilience and sustainable development, has announced the opening of applications for the Deal Room at the 2024...