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    Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

    Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

    FG fines Multichoice N766m over privacy breaches

    FG fines Multichoice N766m over privacy breaches

    Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

    Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

    Food inflation: NSA, 36 states launch joint action

    Food inflation: NSA, 36 states launch joint action

    Petrol imports drop 54% as Dangote boost supply

    Petrol imports drop 54% as Dangote boost supply

    World Bank retains Nigeria’s growth at 3.6%

    World Bank retains Nigeria’s growth at 3.6%

    Petrol: 6 depots slash prices as competition heightens in downstream sector

    Petrol: 6 depots slash prices as competition heightens in downstream sector

    Market capitalisation hits N70.89tr as 36 stocks close in green

    Market capitalisation hits N70.89tr as 36 stocks close in green

    Sixteen years after meltdown, NGX market cap surges by 347.5%

    Sixteen years after meltdown, NGX market cap surges by 347.5%

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      Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

      Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

      FG fines Multichoice N766m over privacy breaches

      FG fines Multichoice N766m over privacy breaches

      Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

      Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

      Food inflation: NSA, 36 states launch joint action

      Food inflation: NSA, 36 states launch joint action

      Petrol imports drop 54% as Dangote boost supply

      Petrol imports drop 54% as Dangote boost supply

      World Bank retains Nigeria’s growth at 3.6%

      World Bank retains Nigeria’s growth at 3.6%

      Petrol: 6 depots slash prices as competition heightens in downstream sector

      Petrol: 6 depots slash prices as competition heightens in downstream sector

      Market capitalisation hits N70.89tr as 36 stocks close in green

      Market capitalisation hits N70.89tr as 36 stocks close in green

      Sixteen years after meltdown, NGX market cap surges by 347.5%

      Sixteen years after meltdown, NGX market cap surges by 347.5%

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        Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

        Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

        FG fines Multichoice N766m over privacy breaches

        FG fines Multichoice N766m over privacy breaches

        Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

        Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

        Food inflation: NSA, 36 states launch joint action

        Food inflation: NSA, 36 states launch joint action

        Petrol imports drop 54% as Dangote boost supply

        Petrol imports drop 54% as Dangote boost supply

        World Bank retains Nigeria’s growth at 3.6%

        World Bank retains Nigeria’s growth at 3.6%

        Petrol: 6 depots slash prices as competition heightens in downstream sector

        Petrol: 6 depots slash prices as competition heightens in downstream sector

        Market capitalisation hits N70.89tr as 36 stocks close in green

        Market capitalisation hits N70.89tr as 36 stocks close in green

        Sixteen years after meltdown, NGX market cap surges by 347.5%

        Sixteen years after meltdown, NGX market cap surges by 347.5%

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          Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

          Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

          FG fines Multichoice N766m over privacy breaches

          FG fines Multichoice N766m over privacy breaches

          Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

          Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

          Food inflation: NSA, 36 states launch joint action

          Food inflation: NSA, 36 states launch joint action

          Petrol imports drop 54% as Dangote boost supply

          Petrol imports drop 54% as Dangote boost supply

          World Bank retains Nigeria’s growth at 3.6%

          World Bank retains Nigeria’s growth at 3.6%

          Petrol: 6 depots slash prices as competition heightens in downstream sector

          Petrol: 6 depots slash prices as competition heightens in downstream sector

          Market capitalisation hits N70.89tr as 36 stocks close in green

          Market capitalisation hits N70.89tr as 36 stocks close in green

          Sixteen years after meltdown, NGX market cap surges by 347.5%

          Sixteen years after meltdown, NGX market cap surges by 347.5%

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            Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

            Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

            FG fines Multichoice N766m over privacy breaches

            FG fines Multichoice N766m over privacy breaches

            Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

            Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

            Food inflation: NSA, 36 states launch joint action

            Food inflation: NSA, 36 states launch joint action

            Petrol imports drop 54% as Dangote boost supply

            Petrol imports drop 54% as Dangote boost supply

            World Bank retains Nigeria’s growth at 3.6%

            World Bank retains Nigeria’s growth at 3.6%

            Petrol: 6 depots slash prices as competition heightens in downstream sector

            Petrol: 6 depots slash prices as competition heightens in downstream sector

            Market capitalisation hits N70.89tr as 36 stocks close in green

            Market capitalisation hits N70.89tr as 36 stocks close in green

            Sixteen years after meltdown, NGX market cap surges by 347.5%

            Sixteen years after meltdown, NGX market cap surges by 347.5%

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              Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

              Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

              FG fines Multichoice N766m over privacy breaches

              FG fines Multichoice N766m over privacy breaches

              Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

              Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

              Food inflation: NSA, 36 states launch joint action

              Food inflation: NSA, 36 states launch joint action

              Petrol imports drop 54% as Dangote boost supply

              Petrol imports drop 54% as Dangote boost supply

              World Bank retains Nigeria’s growth at 3.6%

              World Bank retains Nigeria’s growth at 3.6%

              Petrol: 6 depots slash prices as competition heightens in downstream sector

              Petrol: 6 depots slash prices as competition heightens in downstream sector

              Market capitalisation hits N70.89tr as 36 stocks close in green

              Market capitalisation hits N70.89tr as 36 stocks close in green

              Sixteen years after meltdown, NGX market cap surges by 347.5%

              Sixteen years after meltdown, NGX market cap surges by 347.5%

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                Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

                Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

                FG fines Multichoice N766m over privacy breaches

                FG fines Multichoice N766m over privacy breaches

                Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                Food inflation: NSA, 36 states launch joint action

                Food inflation: NSA, 36 states launch joint action

                Petrol imports drop 54% as Dangote boost supply

                Petrol imports drop 54% as Dangote boost supply

                World Bank retains Nigeria’s growth at 3.6%

                World Bank retains Nigeria’s growth at 3.6%

                Petrol: 6 depots slash prices as competition heightens in downstream sector

                Petrol: 6 depots slash prices as competition heightens in downstream sector

                Market capitalisation hits N70.89tr as 36 stocks close in green

                Market capitalisation hits N70.89tr as 36 stocks close in green

                Sixteen years after meltdown, NGX market cap surges by 347.5%

                Sixteen years after meltdown, NGX market cap surges by 347.5%

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                  Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

                  Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

                  FG fines Multichoice N766m over privacy breaches

                  FG fines Multichoice N766m over privacy breaches

                  Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                  Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                  Food inflation: NSA, 36 states launch joint action

                  Food inflation: NSA, 36 states launch joint action

                  Petrol imports drop 54% as Dangote boost supply

                  Petrol imports drop 54% as Dangote boost supply

                  World Bank retains Nigeria’s growth at 3.6%

                  World Bank retains Nigeria’s growth at 3.6%

                  Petrol: 6 depots slash prices as competition heightens in downstream sector

                  Petrol: 6 depots slash prices as competition heightens in downstream sector

                  Market capitalisation hits N70.89tr as 36 stocks close in green

                  Market capitalisation hits N70.89tr as 36 stocks close in green

                  Sixteen years after meltdown, NGX market cap surges by 347.5%

                  Sixteen years after meltdown, NGX market cap surges by 347.5%

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                  NBC under Fire for Fining ARISE NEWS, Channels, AIT

                  •NUJ kicks as SERAP threatens legal action

                  Thisdaylive | October 27, 2020
                  NBC under Fire for Fining ARISE NEWS, Channels, AIT
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                  The Socio-Economic Rights and Accountability Project (SERAP), Peoples Democratic Party (PDP) and the Nigeria Union of Journalists (NUJ) yesterday criticised the National Broadcasting Commission (NBC) for imposing fines on ARISE NEWS Channel, Channels Television and Africa Independent Television (AIT) over their coverage of the #ENDSARS protests.

                  SERAP demanded the withdrawal of the fines or else it would sue the broadcasting regulator.

                  The PDP and the NUJ in condemning the fines described the sanctions as an attempt to cow the media.

                  NBC yesterday accused the three broadcasting organisations of violating broadcasting codes for broadcasting footages obtained on the Lekki shooting by soldiers from unverified and unauthenticated social media sources.

                   

                  The regulator alleged that the three stations aided in the escalation of tension through coverage of the protests in the country.

                  They were slammed with fines that varied between N2million and N3million.

                  The Acting Director-General, NBC, Prof. Armstrong Idachaba, threatened at a press briefing in Abuja yesterday that the operating licences of the affected stations will be suspended if they commit the same infraction again, which is classified as a Category A offence.

                   

                  Idachaba said the sanction would serve as a deterrent to broadcasters who did not verify news stories before airing them.

                  He said the commission was concerned about the recent professional misdemeanour of some broadcasting stations.

                  Idachaba said: “In line with the provision of Section 5.6.9 of the Nigeria Broadcasting Code, which states that the broadcaster shall be held liable for any breach of the code emanating from the use of material from User Generated Sources, the commission, therefore, sanctioned Arise TV, Channels TV and AIT in line with the provision of the broadcasting code.

                   

                  “Channels Television, Arise TV and AIT, especially continued to transmit footages obtained from unverified and unauthenticated social media sources.

                  “No doubt, these pictures stimulated anger and heightened the violence that was witnessed during the #EndSARS crisis.

                  “If you escalate the violation that has emanated from the misuse of social media sources by broadcasting, it will escalate the sanction.

                   

                  “According to the provision of the law, we can comfortably shut them down because what they are doing is capable of causing the breakdown of law and order.

                  “No responsible country will sit down and allow any form of media to bring down the country.

                  “Look at the level of damage and killings that happened on account of the unverified news report.

                   

                  “In line with the provision of the Code Section B, which is heavy fine between N500, 000 to N5 million, we will communicate that to the affected stations depending on the magnitude of breaches.

                  “But none of them will pay less than N2 million to N3 million and any further breach will lead to the withdrawal of licence.’’

                  He cautioned broadcasters against airing materials that could embarrass individuals, organisations or cause disaffection, incite to panic or rift in the society.

                   

                  “We believe that the whole country has now seen why the spurious and recklessness on social media must not be patronised by the mainstream traditional media,’’ he stated.

                  Idachaba, however, condemned the assault and intimidation of media houses.

                  He said the burning of TVC Lagos and the brief closure of Channels TV were worrisome indicators of mob threat to the freedom of the press.

                   

                  According to him, no nation can grow when the citizens muzzle and intimidate its press.

                  He stated that the sanction will serve as a deterrent to broadcasters that fail to verify stories before broadcasting.

                  SERAP, NUJ, PDP Kick

                  Reacting to the fines, SERAP, in a statement by its Deputy Director, Mr. Kolawole Oluwadare, said NBC’s action was yet another example of Nigerian authorities’ push to silence independent media and voices.

                   

                  SERAP said NBC should drop the fines or face legal action if it does not rescind the decision within 48 hours.

                  ”This is a new low in Nigeria’s protection of freedom of expression, and the ability of independent media to function in the country. The fines are detrimental to media freedom, and access to information, and the NBC must immediately withdraw the decision,” it said.

                  NUJ National President, Mr. Chris Isiguzo, condemned the sanctions.

                   

                  In a statement titled: “Unending assault on the media,” he said the decision by the industry regulator exposed the government’s anti-democratic tendencies.

                  He said: “Rather than trying to muzzle the media, we suggest that the NBC should applaud media coverage of the protests and the professionalism of journalists who despite the enormous risks to their lives ensured a comprehensive coverage of the protests.

                  “This development is of major concern to the union as journalists and media organisations are targets of attack by both protesters and the government. The media, despite all its perceived shortcomings, remains the most viable tool for good governance and democracy and should be jealously guarded and protected.

                   

                  “Actions like this only bring back unpleasant memories of the long tenure of military rule and the established culture of intolerance against the media when Nigeria recorded her most grievous crimes against the industry. Sadly, we are once more witnessing actions that seek to undermine the profession by both state and non-state actors.

                  “We call for an end to this open contempt and disrespect for the media by NBC and note that the fines imposed on the media houses are unnecessary, discriminatory, an attempt to discourage a free, independent media, and should be withdrawn immediately.”

                   

                  The PDP also condemned what it described as the clampdown on major broadcast stations by the All Progressives Congress (APC)-led federal government.

                  The PDP, in a statement by its National Publicity Secretary, Mr. Kola Ologbondiyan, said the rush to impose monetary fines on the television stations smacks of a fresh attempt to gag the media, suppress free speech and Nigerians’ access to information.

                  The main opposition party said the clampdown on broadcast stations has heightened widespread public apprehensions of attempts at concealments of details and suppression of material evidence relating to human rights violations during the protests.

                   

                  “In fact, this display of high-handedness by the NBC has hugely detracted from the efforts being made by well-meaning Nigerians to douse the tension in the land and reassure Nigerians at this critical time.

                  “The NBC should rescind this rushed clampdown and handle its regulatory role more professionally,” PDP added.

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