By Adedapo Adesanya

African broadcasting giant, MultiChoice, has won a suit against the National Broadcasting Commission (NBC), which requires broadcasters to pay 2.5 per cent of their Gross Annual Income as an Annual Operating Levy to the Nigerian government.

Justice James Omotosho of the Federal High Court Abuja struck down Section 2 (10) (b) of the National Broadcasting Code, 6th Edition, which was challenged by MultiChoice.

This judgement followed a suit filed by MultiChoice Nigeria Ltd and Details Nigeria Limited (GOtv) against NBC.

Delivering the judgment on Wednesday, Justice Omotosho ordered that the provision be struck down and replaced with Net Annual Income instead of the existing Gross Annual Income.

This means that the 2.5 per cent levy will be taken out of the total amount of revenue after the companies have deducted all operational expenses, taxes, and obligations against Gross Annual Income, which is the total earnings before deductions.

The court also barred the NBC from demanding the plaintiffs’ VAT remittance, FIRS reports, bank statements, audit adjustment journals, trial balances, and general ledgers for the purpose of computing the plaintiffs’ annual income, other than the annual audited accounts of the companies as stipulated in the NBC Code.

The judge stated that NBC can only access other financial documents of MultiChoice through sister agencies such as the Federal Inland Revenue Service (FIRS).

In the suit, the plaintiff’s counsel, Mr Moyosore Onigbanjo (SAN), sought several reliefs, including a determination of whether the NBC had the authority to demand any financial documents other than the annual audited accounts.

He also sought clarification on whether the term “gross annual income,” as used in the NBC Code, was fair and equitable.

“Income, as provided by the NBC Code 6th Edition, is not defined, nor is it defined in any previous editions or in the NBC Act of 2004,” the counsel submitted in court.

Mr Onigbanjo also asked the court to determine whether the waiver or agreement between the plaintiffs and the NBC to pay a flat rate of N800,000,000 (Eight Hundred Million Naira) as an Annual Operating Levy for the years 2020–2023, including certain previous years, was binding on both parties.

Counsel to the NBC, Mr Victor Ogude (SAN), argued before the court that the agreement was not binding on the NBC, as the NBC’s acting Director-General who agreed on its behalf acted beyond his powers.

He contended that the NBC was entitled to the full amount payable.

Mr Ogude also urged the court to uphold the NBC’s oversight role over MultiChoice and Details Nigeria.

Delivering his verdict on Wednesday, Justice Omotosho, said with his experience as a trained economics teacher, running a business like the one operated by the plaintiffs requires significant capital and expenses. It is only fair, he said, that these expenses be deducted before the Annual Operating Levy is paid.

He stated that net income is the actual profit after subtracting all business expenses, adding that the taxable amount cannot be determined when calculating gross profit but should be based on net profit.

The judge emphasized that the Annual Operating Levy charged by NBC is a form of tax imposed on broadcasters.

He then held that it would be unjust to impose it on their gross income.

“The proper and lawful income to impose a levy on is the net income,” he said, adding that this aligns with tax laws and global best practices. “In the United States, for instance, companies pay a flat rate of 21 per cent on their profits, determined after all expenses have been deducted. Similarly, in the United Kingdom, a 25 per cent corporation tax is imposed on company profits.”

“From this Court’s knowledge of economics, gross income implies all money that accrues to a person or business within a specific time. This gross income typically does not account for company expenditures such as production costs, rent, vendor payments, staff salaries, taxes, and other costs. It is only after all these payments are made that the company determines its profit, known as net income.”

“Consequently, this Court holds that Section 2 (10) (b) of the National Broadcasting Code, 6th Edition, which demands 2.5 per cent of Gross Annual Income from broadcasters as an Annual Operating Levy, is unconscionable, unfair, and stifling to the plaintiffs,” Justice Omotosho ruled.

Furthermore, Justice Omotosho noted that the plaintiffs had provided credible and documentary evidence showing they had faithfully paid their Annual Operating Levy (AOL) without fail, and the defendant did not challenge these documents.

He said the NBC’s claim that it was entitled to N4 billion, as stated in its letter dated August 15, 2023, was unsupported by any evidence.

Regarding the agreement, Omotosho ruled that when parties express their intention and enter into a binding agreement, neither party is allowed to abandon the agreement simply because one or more of its terms are unfavourable.

The judge declared that the agreement between the defendant and MultiChoice, or the waiver on the payment of N800,000,000 (Eight Hundred Million Naira) throughout their current “DTH license”, is binding on both parties.

He also restrained NBC from demanding any additional sum from the plaintiffs as AOL for the years in which they have already made payments.

He issued a perpetual injunction restraining the NBC, its servants, agents, or privies from sanctioning, fining, or suspending the plaintiffs’ license, contrary to the court’s judgment on the issues raised.

The buzz around Young Jonn’s latest remix with Pepsi is arguably one of the best brand infusions in pop culture The remix and music video were leveraged to unveil the reintroduction of Pepsi’s iconic 60cl LongThroat bottle, Big Big Tinz. This remix is more than just a brand jingle — it’s an anthem that taps into the fabric of urban pop culture. In this context, the brand understood the desire for more as Nigerians despite the harsh economic realities. It communicates its offering of Big Refreshment, Big Value, Big Big Flex, and everything that makes life more enjoyable. Young Jonn’s and Pepsi’s new remix captures this vibe perfectly. After watching the music video, you’ll agree that it’s the ultimate anthem for the year, and here’s why.

1. A Hit Song with a Fresh and new Vibe 

Young Jonn’s remix of Big Big Tinz couldn’t have come at a better time. In a year full of ups and downs, this song — with its energetic beats, clever lyrics, and relatable vibe — goes beyond just talking about enjoying a drink; it’s about living life to the fullest. The remix resonates with anyone seeking that extra refreshment, reminding us that bigger and better things are always within reach. As people search for the best bargains and affordable ways to celebrate the holiday, the 60cl Pepsi LongThorat bottle, still offers at the same price, delivers an affordable yet enjoyable way to celebrate the holidays.

2. A Perfect Infusion of brand into pop culture

In challenging economic times, value matters. The Big Big Tinz campaign, celebrating the return of the 60cl Long Throat bottle, offers consumers more refreshments for the same price. Young Jonn’s remix amplifies this message in a fun and memorable way. By tapping into the global hit song and popular street anthem, Pepsi has successfully entrenched the brand’s message and the essence of the campaign, delivering big refreshments and Big Value. Combining an anthem that resonates with everyone and a value-driven product, Pepsi has successfully connected with fans who appreciate getting a little extra without paying more.

3. The Music Video: A Visual Feast

The Big Big Tinz remix isn’t just about the sound—it’s also about the visuals. The music video elevates the energy of the song with vibrant, high-energy scenes that showcase the spirit of the campaign. Picture Young Jonn in full motion, weaving through the bustling streets of Lagos. This video reflects the excitement and vibrancy of both the Big Big Tinz theme and Pepsi’s return to the 60cl bottle.

4. A Celebration of Big Wins and Big Moments

This anthem stands out even more because of its connection to the people. The lyrics of Big Big Tinz celebrate the big wins, the little victories, and those moments that make life exciting. Big Big Tinz — whether it’s winning big at life, achieving a personal goal, or simply enjoying the refreshment of a cold Pepsi.

      5. A Collaboration Made for the Fans

Young Jonn is known for his vibrant music and strong connection with his audience, making him the perfect partner for Pepsi’s campaign. His remix of Big Big Tinz, combined with Pepsi’s promise of fun and refreshment, has created a track everyone is talking about. Young Jonn’s remix with Pepsi isn’t just a song; it’s a vibe, an experience, and a reminder that sometimes, life’s best moments come in bigger, better packages.

Watch the music video https://youtu.be/v9m-XWGK5q0. Stream live https://youngjonn.lnk.to/bbtinz. Follow @pepsi_Naija on Instagram.

 Turn up the volume, crack open a 60cl Pepsi, and vibe to Young Jonn’s Big Big Tinz remix!

By Modupe Gbadeyanka

Nigerian shoppers who use one of the world’s largest online retail platforms, AliExpress, can now pay for the items with their Verve cards, Business Post has learned.

This has been made possible because of a partnership between the e-commerce platform and the leading domestic payments card scheme and token brand, Verve International.

It was gathered that the collaboration empowers Verve cardholders, both locally and internationally, to engage in cross-border transactions.

It also reinforces Verve’s unwavering commitment to delivering inclusive, innovative, and secure digital payment solutions that empower individuals and businesses alike, while bridging the gap in global digital commerce.

With AliExpress joining this network and Verve integrated into its payment options, Verve cardholders can easily shop and pay for a wide range of products.

To shop on AliExpress using a Verve card, users need to simply sign in, select the items to buy, and click ‘Buy now.’ When prompted, add a new card and enter the Verve card details. Save the information for future use, confirm the details, and complete the payment seamlessly.

“We are excited to announce that Verve is now accepted on AliExpress, a globally recognised e-commerce leader.

“This marks a significant milestone in our global expansion journey, reflecting our commitment to providing cardholders with access to more possibilities in today’s digital economy.

“The addition of AliExpress to our growing network is just the beginning, there’s much more to come as we continue to innovate, expand, and deliver value to millions of Verve cardholders in Nigeria and beyond,” the Managing Director of Verve International, Mr Vincent Ogbunude, said.

Verve’s expanding global network is bolstered by partnerships with renowned brands such as Google, YouTube, Netflix, Amazon Prime, Facebook, Uber, Spotify, among others, enabling cardholders to conveniently pay for subscriptions in Naira.

These alliances solidify Verve’s position as a trusted leader in the digital payments space, ensuring that consumers can access top-notch services across diverse industries.