General
Outcries as NBC Suspends Operating Licence of AIT, RayPower FM
The operating licence of DAAR Communications Plc, operators of African Independent Television (AIT), RayPower FM and Faaji FM, has been suspended by the National Broadcasting Commission (NBC).
Director General of the media watchdog in Nigeria, Mr Isa’aq Modibbo, said at a briefing in Abuja on Thursday that the suspension was till further notice.
He accused the broadcast platforms of going against the broadcasting codes of the NBC and that owners of the stations failed to make corrections even when they were warned several times in the past.
However, the decision of the NBC to shut down AIT and RayPower FM has generated mixed reactions from Nigerians. While some see it as long overdue, others view it as an attempt to gag the media, especially those critical of the government of President Muhammadu Buhari.
The Nigerian Guild of Editors (NGE) in a statement demanded immediate revocation of the suspension order of the licenses of DAAR Communication Plc.
In a statement signed by its President, Mrs Funke Egbemode, and General Secretary, Mrs Mary Atolagbe, the Guild described the action of the National Broadcasting Commission (NBC) as a “case of Executive highhandedness,” adding “it paints our dear country in the darkest tar of dictatorship,” adding that the suspension order “runs contrary to the ideals of free speech and the fine tenets of press freedom.”
“The Fourth Estate of the Realm remains the watchdog of society and any attempt to gag it in any guise is an affront on democracy and the people. The NBC must and should rescind this ignoble and despicable decision.
“The Guild strongly believes the NBC action is a draconian form of regulation, being out of tune with democratic principles.
“The Guild is concerned about the violation of the constitutional rights of DAAR Communications and the absence of media freedom, independence and the stifling of operations of media outfits which are performing their roles as the watchdog of the Nigerian society.
“The NGE condemns in strong terms the barbaric crackdown on the broadcast outfit and demands the immediate cessation of this atrocious repression and excessive show of power by the NBC, whose duty is to regulate and not kill the media.
“Muzzling the media and throwing thousands of Nigerians into the already saturated labor market should not be the trophy for good corporate governance of a regulator; it is something to be ashamed of and NBC should be ashamed at its action in a fledgling democracy in the 21st Century.
“The Guild is strongly of the opinion that the NBC, in exercising its regulatory powers, should concentrate on implementing policies that will position Nigeria’s broadcasting to compete in the global spheres, rather than engage in witch-hunting and unnecessary show of excessive force,” the statement said.
While appealing to President Buhari to use his good offices to call NBC to order, the Guild expressed its solidarity with the AIT/Raypower family, urging the staff and management to remain calm as the Guild liaises with and other media professionals as well as well meaning Nigerians to get justice.
A Senator in the immediate past 8th National Assembly, Mr Shehu Sani, said, “The suspension of @AIT_Online is an utterly condemnable act.The suspension is politically motivated.Its an act of ingratitude & treachery to strangulate the very media outlet that has played a pivotal role in the struggle for the restoration and defense of democracy.”
A former Minister of Aviation and former presidential media aide, Mr Femi Fani-Kayode, while reacting to the issue, said, “AIT shut down! I warned Nigerians in 2015 and I was maligned and hated for it. I warned Nigerians in 2019 and I was ignored, despised and ostracised for it. Even now Nigerians still don’t know the nature of the monster that plagues and afflicts them. The worst is yet to come.”
Mr Reno Omokri, a former media aide to former President Goodluck Jonathan, said, “First they came for the Legislature (@BukolaSaraki), we did nothing. Next they came for the Judiciary (CJN Walter Onnoghen), we said nothing. Now, they have come for the Press (@AIT_Online). Will you still do NOTHING? Please RETWEET to reject #ReturnToDictatorshipInNigeria.”
Also, Senator Ben Murray-Bruce said, “I stand for #PressFreedom. If the press isn’t free, it means Government therefore possesses more power over her citizens than it needs to have. #AITUnderSiege.”
However, Ms Lauretta Onochie, a social media aide to the President Buhari, has hailed the decision of the NBC to shut down AIT and RayPower, saying, “Nigerians must begin to speak up against those who break our laws. We must insist that enforcement agencies ensure consequences are meted out to those who are accustomed to impunity. Thats d way forward. Kudos NBC!”
By Dipo Olowookere
The need for new thinking on energy transition, infrastructure financing and energy journalism has been emphasised by a leading energy company, Sahara Group.
The organisation, at the 2026 Asharami Square held in Lagos on Wednesday, July 22, stressed the need for solution-based journalism for better results.
At the event themed Energising Africa’s Future: Legacy, Impact and Transformation, the Director of Governance and Sustainability at Sahara Group, Ms Ejiro Gray, in her opening remarks, noted that Africa’s energy future must be shaped by local realities, calling for more balanced, evidence-based journalism capable of interrogating the complexities of energy transition, development and sustainability.
“Effective journalism should not only tell us what happened; it should help us understand why it matters, whose interests are affected and what perspectives are missing from the conversation,” she posited.
The Special Adviser to the President on Power Infrastructure, Mr Sadiq Wanka, in his keynote address, highlighted the opportunities emerging within Nigeria’s electricity sector as reforms continue to open new pathways for investment.
He stated that reforms across the sector were creating opportunities in embedded generation, mini-grids, renewable energy, transmission infrastructure and industrial power solutions, while urging journalists to delve deeper into policy reforms, investment opportunities and implementation outcomes.
“The issue is no longer technology. The real challenge is mobilising capital at scale, structuring bankable opportunities and creating an ecosystem that attracts long-term financing,” Mr Wanka said.
At a panel session featuring the Director of Institute of Continuing Education of the University of Lagos, Prof. Abigail Ogwezzy-Ndisika; the chief executive of the Lagos State Electricity Regulatory Commission (LASERC), Ms Temitope George; and the Managing Director of Chapel Hill Denham, Ms Kemi Awodein, it was echoed that Africa possesses significant pools of capital capable of supporting infrastructure development, but that unlocking investment requires stronger governance, investor confidence and better project preparation.
“Energy reporting must go beyond headline events and announcements. Journalists need to ask deeper questions, examine the evidence and connect policy decisions to their impact on communities and everyday lives,” Prof Ogwezzy-Ndisika stated at the panel moderated by the Associate Editor for Africa at Argus Media, Mr Adebiyi Olusolape.
Ms Awodein, during the panel which explored the question: Who is financing Africa’s energy future? Pointed out that “Nigeria has demonstrated that domestic capital can finance transformational infrastructure at scale. The real differentiator is governance, transparency and a clear pathway to value creation.”
Business Post reports that one of the major highlights of the programme was the unveiling of the Asharami Square Energy Reporting Fellowship, which the Head of Corporate Communications at Sahara Group, Mr Bethel Obioma, said was designed to deepen journalists’ understanding of the technical, commercial, environmental and policy issues shaping the energy sector.
He disclosed that this aligns with Sahara Group’s Beyond XXX vision of investing in people and platforms that will help shape Africa’s future, adding that Prof Ogwezzy-Ndisika will serve as the lead assessor for the programme.
“Through the Asharami Square Energy Reporting Fellowship, we are investing in the capacity of journalists to tell more solutions and evidence-based stories that reflect the realities, opportunities and challenges of Africa’s energy transition,” he stated.
Since its launch in 2024, Asharami Square has continued to advance informed dialogue, strategic partnerships and practical solutions that support Africa’s evolving energy landscape and reinforce Sahara Group’s commitment to delivering impact beyond its first three decades.
By Adedapo Adesanya
The Federal High Court in Abuja has sentenced three suspects in the abduction of students and teachers in Oriire Local Government Area of Oyo State to life imprisonment.
According to the court, the sentencing of Mr Abdulrazak Umar, known under the alias Abu Khalifa/Abu Khalid; Mr Yunusa Musa, alias Yunusa Bin Musa; and Mr Shamsu Adamu Sani, alias Abu Itisar, will start from the date of their arrest.
Before the sentencing by Justice Salim Ibrahim, counsel for the defendants pleaded with the court to sentence them on liberal terms, adding that they were first-time offenders and had pleaded guilty.
Justice Ibrahim pointed out that this showed that they were remorseful of their actions, and all the counts they were charged with are not related to the kidnapping.
He added that the convicts were married men who have children and have aged parents who are dependent on them. He pleaded with the court to give them a second chance at life and sentence them on liberal terms.
Counsel for the prosecution, however, pointed out that the convicts were aware of the people on the battlefield, and as true Nigerians, they should have reported it to the authorities.
After the charges were read to them, they pleaded guilty to membership of a proscribed terrorist group.
At their arraignment on alleged terrorism at the Federal High Court, Abuja, the three defendants also pleaded guilty to concealing information on the planning and execution of the abduction.
However, only the first accused person, Abdulrazak Umar, alias Abu Khalifa/Abu Khalid, pleaded guilty to counts 7, 8, 9 and 10, which bordered on training and passing instructions and inciting terror group members on a particular religious ideology.
The three accused persons were on trial by DSS on a 10-count charge bordering on kidnapping, concealment of information, and terrorism-related offences.
According to the charges, the defendants, all from Niger State, are accused of knowingly withholding information about individuals linked to terrorist activities, participating in kidnapping, and using a messaging platform to facilitate terrorist training.
The federal government had, last week, charged the suspects for the recent kidnapping of children and teachers of a school in the Oriire Local Government Area (LGA) of Oyo State. The 10-count charges filed before the Abuja court bordered on terrorism, kidnapping, concealment, incitement and illegal mining.
By Adedapo Adesanya
Pathway Advisors Limited (PAL) and Pivot Integrated Energy Services Limited have launched a N100 billion Series 1 Commercial Paper (CP) issuance under Pivot’s N300 billion Commercial Paper Programme, opening a new funding window aimed at strengthening the downstream energy company’s working capital.
The offer, for which Pathway Advisors is serving as Lead Arranger and Issuing House, is now open for subscription and will close on July 31, 2026.
The transaction underscores Pathway Advisors’ role in facilitating capital market access for Nigerian corporates while supporting the expansion plans of one of the country’s indigenous downstream energy companies.
Under the transaction, Pivot is seeking to raise up to N100 billion through three tranches with varying tenors and returns. Series 1 Tranche A has a tenor of 180 days, offering a discount rate of 17.5 per cent and a yield of 19.15 per cent. Tranche B has a tenor of 270 days, with a 19.5 per cent discount rate and a yield of 22.79 per cent, while Tranche C has a 364-day tenor, carrying a 19.69 per cent discount rate and a yield of 24.50 per cent.
The minimum subscription is N5 million, representing 5,000 units at N1,000 per unit, with additional subscriptions accepted in multiples of N1,000 thereafter.
The commercial paper programme has received investment-grade short-term ratings from leading rating agencies, earning an A3 rating from Agusto & Co., an A3 rating from Global Credit Ratings (GCR), and an A1 rating from DataPro Limited.
According to the transaction details, proceeds from the issuance will be deployed towards working capital financing to support Pivot’s operations in the importation, trading, storage, distribution and supply of refined petroleum products across Nigeria and selected African markets.
The company said the offer presents investors with an opportunity to participate in the growth of a leading indigenous downstream energy company supported by strong revenue growth, robust off-take arrangements and improving profitability.
Pivot Integrated Energy Services Limited is an indigenous integrated downstream energy company engaged in the importation, trading, storage, distribution and supply of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO) and Aviation Turbine Kerosene (ATK).
The company serves a broad customer base that includes bulk buyers, distributors, industrial users, logistics operators, manufacturers and retail-linked channels across key commercial centres such as Lagos, Calabar and Port Harcourt.
It is also one of the 20 approved off-takers under the Dangote Refinery PMS Consortium, with an allocated target volume of 300 million litres of Premium Motor Spirit per quarter, positioning it among the key distributors in Nigeria’s evolving downstream petroleum market.
For Pathway Advisors Limited, the transaction further reinforces its position in Nigeria’s debt capital market as a financial advisory and capital-raising firm. Registered and regulated by the Securities and Exchange Commission (SEC), the firm provides transaction advisory, capital raising, project finance, mergers and acquisitions advisory, and strategic financial solutions to corporate and institutional clients.
The firm said it remains committed to facilitating access to capital for businesses while supporting sustainable economic growth across key sectors of the Nigerian economy through innovative financing solutions.
