General
FCCPC Engages MultiChoice Nigeria Over DStv, GOtv Rates Hike

By Adedapo Adesanya
Nigerians were thrown off-balance on Tuesday after MultiChoice Nigeria announced that from next month, subscribers of its DStv and GOtv bouquets will have to pay more to watch their favourite channels.
This issue generated reactions as always and to quell the furore, the Federal Competition and Consumer Protection Commission (FCCPC) has announced that it is engaging the pay-television company for clarity of the subscription fee increment.
Mr Babatunde Irukera, the Executive Vice Chairman of FCCPC, explained that the engagement was to check whether the company implemented a change in terms and conditions in line with the commission’s mandated steps.
According to him, the agency’s orders were broad and it will be important that compliance was prioritized.
“Although we cannot, and did not regulate price except in limited circumstances requiring presidential approval and gazetting.
“As such, our order to MultiChoice did not prevent them from pricing their services in a manner acceptable between them and their subscribers.
“We regulate price gouging. The nature of gouging is post-fact, meaning that when a price movement occurs, we can investigate to determine if it is excessive, exploitative, unrestored or manifestly unjust.
“Such is a very intricate investigation and the fact of the existence of any increase is not the entire evidence.
“There is a method to analyse the increase and other circumstances leading to it.
“As in the case of pharmacies, we are prosecuting for inordinate increases of certain products during early stages of the COVID-19 pandemic.
“For now, the first check with MultiChoice is whether they implement, or intend to, a material change in terms and conditions (of which price is one) without the steps the Commission has mandated as conditions precedent,” he said.
Business Post had reported that MultiChoice on March 22 in a statement, announced the increase in DStv and GOtv subscription rates, blaming it on rising cost of inflation and business operations.
The rates are Xtraview +PVR access fee formally N2,300, now N2,900, Business will now go for N2,669, Padi formally N1,850 will now be N2,150, Yanga formally N2,565 will now be N2,950, Confam formally N4,615 will now be N5,300.
Also, Compact formally N7,900 will now be N9,000, Compact Plus formally N12,400 will now be N14,250, while Premium which was N18,400 will now go for N21,000.
For GOtv, Max formally N3,600 will now be N4,150, Jolli formally N2,460 is now N2,800, Jinja formally N1,640 will now go for N1,900 and Lite formally N800 will now be N900.
The company said the new rates would take effect from April 1.
Prior to that, FCCPC had ordered the company to introduce a price lock option that allowed subscribers to maintain the same subscription fee for a minimum period of one year subject to a contractual agreement that clearly specified the applicable terms and conditions.
The commission also directed the company to have a better value for money proposition for annual prepayment of subscription, including the ability to suspend subscription at least once every quarter of the year.
General
MOFI Unveils N100bn Series 2 Offering to Boost Real Estate Sector

By Adedapo Adesanya
The Ministry of Finance Incorporated (MOFI) launched a N100 billion Series 2 offering under the MOFI Real Estate Investment Fund (MREIF) as part of the federal government’s efforts to expand the housing sector with private sector support.
According to a statement, Monday’s launch of the N100 billion Series 2 offering raised subscriptions so far to N250 billion, a build-up from the successful N150 billion Series 1 subscription earlier launched in 2024.
MREIF is a major initiative to address Nigeria’s critical housing deficit by providing long-term, affordable financing for housing developments and homeownership.
The fund tallies with President Bola Tinubu’s Renewed Hope Agenda and seeks to bridge Nigeria’s estimated 20 million housing deficit through innovative and sustainable financial solutions.
Speaking at the official launch of the project in Abuja, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, highlighted the imperative of private sector involvement in the housing sector.
Mr Edun stated, “The successful completion of Series 1 has demonstrated the government’s commitment to making homeownership more accessible. Now, with Series 2, we are opening the doors for private investors to join this transformative journey, creating jobs, enhancing infrastructure, and strengthening the economy.”
On his part, the Managing Director/CEO of MOFI, Mr Armstrong Takang, reaffirmed the fund’s long-term vision, emphasising, “Series 2 marks a critical step toward unlocking private capital at scale for Nigeria’s housing market.
“By leveraging blended finance, we are creating a sustainable framework for affordable homeownership that benefits all Nigerians.”
The Chairman of MOFI Board, Mr Shamsudeen Usman, applauded the initiative, describing it as “a landmark achievement in Nigeria’s housing sector”.
“The Renewed Hope Agenda is focused on delivering sustainable homeownership opportunities for Nigerians, and MREIF is a major driver of this vision,” he said.
While Series 1 was fully subscribed by MOFI as Sponsor and Anchor Investor, Series 2 is strategically positioned to attract private sector participation, mobilising N100 billion from institutional investors.
MOFI said that underscored its commitment to fostering a collaborative public-private partnership to scale up housing finance and drive inclusive economic growth.
MREIF’s ultimate goal is to raise N1 trillion to transform Nigeria’s housing sector, enabling millions of Nigerians to access affordable homeownership.
The fund prioritises affordable mortgage financing with repayment tenors of up to 25 years and interest rates targeted at 11-12 percent, significantly lower than prevailing commercial rates. This is made possible through a blended finance structure that combines subsidised public funding with market-rate private sector investments.
With Series 2, MOFI is paving the way for deeper private sector collaboration to accelerate housing development across the nation.
“As the fund progresses toward its N1 trillion goal, it will continue to catalyse investments that reshape Nigeria’s housing landscape and improve the lives of millions,” the MOFI statement added.
General
Access Holdings Honours Wigwe With AccessGive Platform

By Aduragbemi Omiyale
The carry forward the legacy of its late co-founder, Mr Herbert Wigwe, Access Holdings has introduced a platform known as AccessGive.
This initiative was unveiled on Sunday, February 9, 2025, at the Herbert Wigwe One Year Memorial in Lagos attended by friends and family members of the late banker.
Mr Wigwe died in a helicopter crash in the United States on February 9, 2024, alongside his wife, son, and an associate, Mr Abimbola Ogunbanjo.
At the launching of AccessGive, the co-founder and chairman of Access Holdings, Mr Aigboje Aig-Imoukhuede, said, “This innovative platform is not merely about giving, it’s about building.”
“It’s about building dreams, building lives, and building Africa. With AccessGive, we are ensuring that Herbert Wigwe’s remarkable legacy continues to inspire and drive progress across the continent,” he explained.
The company urged everyone to join in carrying forward the extraordinary legacy of Mr Wigwe, who was described as a leader whose vision extended far beyond the boardroom and into the very fabric of Africa’s future.
The late banker was said to be a visionary who believed that true success lies in creating opportunities, uplifting communities, and driving change that endures.
He was said to have looked beyond obstacles to focus on solutions, growth, and positive transformation, inspiring impact across Africa.
With an unwavering belief that Africa’s boundless potential resides in the hands of its young people, Mr Wigwe did not merely speak about making a difference, he lived it.
Through The HOW Foundation, he championed youth empowerment, education, and healthcare, knowing that a strong, educated generation would be the driving force behind Africa’s transformation.
His establishment of Wigwe University provided a blueprint for excellence designed to mould fearless innovators ready to redefine the continent’s trajectory.
Access Holdings said AccessGive was built on the pillars of transparency, collaboration, and accountability, saying it is a dynamic platform that serves as a conduit for meaningful action. The platform connects individuals, organizations, and communities with high-impact social initiatives in education, healthcare, environmental sustainability, and community development, ensuring every contribution yields measurable, lasting change.
The AccessGive platform offers an intuitive, user-friendly interface that empowers supporters to explore and back projects echoing Herbert Wigwe’s vision, the firm stated.
It listed the key features of the initiative to include transparent donation tracking, detailed project profiles, real-time updates, and integrated social sharing capabilities, allowing users to see precisely how their contributions are making a tangible difference.
The organisation said by supporting initiatives under The HOW Foundation and Wigwe University, every donation becomes an investment in the future Herbert envisioned—one where young Africans gain access to world-class education, transformative mentorship, and opportunities to shape the continent’s tomorrow.
General
Adelabu Calls for Calm After 100 Days of UCH Power Outage

By Adedapo Adesanya
The Minister of Power, Mr Bayo Adelabu, on Monday addressed students of the University College Hospital (UCH), Ibadan who are staging a peaceful protest on the lingering power cut at the school.
Business Post reports that the outage has lasted over 100 days, with Monday making it 101 days since the hospital was disconnected from the grid in October 2024 by Ibadan Electricity Distribution Company (IBEDC) over an outstanding debt of about N500 million.
The Student Union of the University of Ibadan in conjunction with the College of Medicine staged a peaceful protest to draw the attention of the Federal Government to the development but nothing has been done to the effect.
The protesters demanded an immediate reconnection of UCH and the implementation of a 50 per cent tariff reduction they claim the Minister promised the hospital.
Meanwhile, Mr Adelabu appealed to the students to allow for dialogue while proposing a truce between the IBEDC and UCH.
The students carried placards with different inscriptions such as +100 Days of Darkness: Save UCH; Save ABH Hall; Save Falade Hall; Give Us Light; This Is Not How We Want To Live; Medical School Is Hard Enough—Give Us Light; All We Are Saying, Give Us Light, among others.
The students had protested on January 26, 2025, to the State and Federal Secretariats, Agodi, Ibadan, with the hope that the management would fix the issue, but with the 100-day milestone, the new protest hopes there will be resolution
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