General News
DSO: STBMAN Accuses NBC of Contempt, Seeks Presidential Intervention
Association of Set-Top Box Manufacturers of Nigeria (STBMAN) has accused the National Broadcasting Commission (NBC) of sidelining indigenous manufacturers and flouting a subsisting court order in its push to launch a new satellite-driven Digital Switch Over (DSO) scheme, tagged ‘The Big Picture’.
Charles Ebuebu, director-general, NBC
The group is calling on President Bola Tinubu to urgently intervene.
STBMAN, in a statement issued by Sir Godfrey Ohuabunwa, its chairman, described the NBC’s approach as “incoherent and unfair”, alleging a consistent pattern of disregard for existing agreements and stakeholders.
“It is becoming routine for the Commission to embark on a course without the slightest consideration to agreements and for key stakeholders in the DSO ecosystem,” the group stated.
The manufacturers expressed concern over NBC’s plan to import five million hybrid set-top boxes from China, despite a presidential executive order promoting local content in procurement.
They argue this move contradicts the “Nigeria First Policy” and undermines years of local investment.
“NBC should therefore be a promoter of economic activities and not a destroyer of ideas and investments,” STBMAN said, highlighting that its members still hold unsold boxes manufactured to NBC’s original specifications.
READ THE FULL STATEMENT BELOW:
PRESS RELEASE BY THE ASSOCIATION OF SET TOP BOX MANUFACTURERS OF NIGERIA, ON THE JOINT PRESS RELEASE BY THE DIRECTORS GENERAL OF THE NATIONAL BROADCASTING COMMISSION (NBC) AND NIGCOMSAT ON THE UNVEILING OF SATELLITE DRIVEN DIGITAL SWITCH OVER (DSO) TAGGED ‘‘THE BIG PICTURE’’.
The Association of Set Top Box Manufacturers of Nigeria (STBMAN)is once again compelled to issue a statement on the very incoherent and unfair practices being pursued by the National Broadcasting Commission (NBC)in its implementation of the FGN’s policy on the migration from analogue to digital broadcasting. Regrettably, it is becoming routine for the Commission to embark on a course without the slightest consideration to agreements and for key stakeholders in the DSO ecosystem.
The public is invited to note that STBMAN is a body of technology driven businesses and is not averse to the introduction and use of new technologies.
Similarly, it should be noted that the Association is not alluding to any inference that it should be the ultimate determiner of how the project is implanted.
For any keen follower of the DSO since its conception by the DigiTeam, it is not far- fetched to recall its decision on the adoption of the Digital Terrestrial Television (DTT) option as against the DTH on grounds of the cost that will be difficult to bear by the larger part of the TV viewing population.
Secondly, as at today the Federal Government of Nigeria has spent close to over N60Billion on DSO program, excluding Millions of Dollars spent by Broadcast Signal Distributors, local DTT factories and other stakeholders who have deployed DTT Infrastructure. This is not minding the over 10 million Poor Television Households that will be impacted by mindless action of hybrid box.
As we are not averse to any change of any government policy, it is on record that STBMAN at various times have encouraged NBC to partner with NIGCOMSAT to provide the necessary signal transmission/ coverage to ameliorate the heavy cost that was being paid to foreign satellite distribution/ carriers but the NBC outrightly refused to consider this.
It is heart-warming to note finally that NIGCOMSAT is now the latest and best to provide signal coverage.
Curiously, the Press Release stated that local manufacturers would be engaged to produce hybrid compliant reception devices yearly, yet there has been no form of engagement with the 13 licensed STB manufacturers who have committed huge financial cost in the manufacture of DTT boxes specifically ordered and made to specifications provided by the NBC/ Digiteam.
It is imperative for the public to note that the STB manufacturers have toiled and sacrificed for the success of the DSO but at each turn, there appears to be deliberate and calculated move to scuttle their efforts and investments.
For almost 10 years, members of STBMAN have been left with scores of boxes in their warehouses without being able to sell because of NBC’s inability to deliver on its obligations and contractual agreements.
The least that any well-meaning governmental body that cares for the growth of its economy should have done, would have been an engagement with the existing licensed manufacturers to work out an acceptable arrangement, considering the financial investments as well as the changes in technology that have become necessary to undertake.
The public is invited to note further that it was on grounds of this and NBC’s attempt to undermine the agreement and the exclusivity granted the pioneer manufacturers that the Association took out a Writ of Summons in Suit No: FCT/HC/GAR/CV/442/2024 to protect its interest by seeking Court intervention to stop any attempt at licensing new manufacturers of STBs. It is *instructive to emphasis here that on the 11th day of September 2024, the High Court of the Federal Capital Territory, sitting in Abuja made interim orders restraining NBC from taking any further step in relation to the reliefs being sought by the Claimants.
Notwithstanding the fact that NBC is not only seized of the pendency of the case/ action but has joined issues with the Claimants, it has chosen the path of contempt to short circuit the ends of justice.
An order of court, whether valid or not must be obeyed if it is subsisting by all no matter how lowly or lightly placed in society until it is set aside. This is what the rule of law is all about.
As if NBC is running a different Government, in the press release, they intend to import 5,000,000 Hybrid/DTH Set Top Boxes from China, in total disregard of the Presidential Executive Order “The Nigeria First Policy’ which makes it mandatory, that Nigeria comes first in all procurement processes.
No foreign goods or devices that are already produced locally will be procured without a clear justified reason. Accordingly, the policy reflects the vision of President Ahmed Tinubu GCFR in industrializing Nigeria, shielding the economy from global shocks and building sustainable local capacity. NBC should therefore be a promoter of economic activities and not a destroyer of ideas and investments.
In the light of the foregoing, we call on Mr. President, Alh. Bola A. Tinubu GCFR to urgently wage in and stop this rather dangerous trend sought to be perpetrated by the NBC leadership and its advisers.
Thank you.
For: ASSOCIATION OF LICENCED SET TOP BOX MANUFACTURERS OF NIGERIA. (STBMAN)
SIR GODFREY N. OHUABUNWA
CHAIRMAN
Dangote Petroleum Refinery is reportedly nearing completion of a $2.5 billion private placement that values the company at about $40 billion ahead of its planned public listing.
Private placement is the direct sale of company shares or bonds to pre-selected investors instead of the general public and it is used to raise money quickly while avoiding strict public reporting rules.
People familiar with the transaction said investors acquired as much as 6 per cent of the refinery, according to a BusinessDay report.
The reported terms would value the business at approximately $40 billion.
Neither Dangote Group nor the refinery has publicly announced the final amount raised, the identities of most subscribers or the precise percentage sold.
The figures should therefore be treated as transaction details supplied by unnamed sources rather than confirmed company disclosures.
The reported $2.5 billion total is nevertheless significant as it indicates strong demand for exposure to a privately controlled refinery that has rapidly become central to Nigeria’s fuel supply and an increasingly important exporter of petroleum products.
The placement was said to have attracted more demand than the available shares, allowing the company to secure substantially more than the amount initially associated with the fundraising exercise.
Femi Otedola, chairman, First HoldCo, is the only major participant publicly identified in the report.
He reportedly committed $100 million to the transaction and sold his investment in Geregu Power Plc to finance the acquisition.
Nigeria’s pension industry was also reportedly cleared to participate.
Access to more than $17 billion in retirement assets would broaden the refinery’s potential investor base beyond wealthy individuals and conventional institutional buyers.
Participation by Pension Fund Administrators would, however, require careful attention to valuation, liquidity and portfolio-concentration limits.
Retirement funds must balance the attraction of a large Nigerian industrial asset against their responsibility to protect contributors’ savings.
The implied $40 billion valuation represents investor expectations about the refinery’s future earnings rather than only the physical cost of constructing the facility.
Its ability to process 650,000 barrels of crude daily gives it a central role in supplying Nigeria and other markets, but its commercial performance remains connected to crude availability, product prices, exchange rates and regulation.
The refinery has struggled to obtain all the Nigerian crude it requires under the government’s naira-for-crude arrangement.
It has consequently purchased some feedstock internationally and recently moved local petroleum-product pricing into dollars to align sales revenue more closely with its foreign-currency expenses.
Those constraints will be important during any public offering.
Prospective shareholders will want greater clarity on crude-supply contracts, debt, operating margins, export revenue and the company’s relationship with Nigerian regulators.
It is also unclear whether the private placement involved newly issued shares, a sale by existing owners or a combination of both.
That distinction determines whether the reported $2.5 billion becomes fresh capital for the refinery or proceeds received by selling shareholders.
The transaction could provide a useful price reference for the planned initial public offering.
Federal government will next month launch Nigeria’s first national organized crime strategy to strengthen the country’s response to terrorism, cybercrime, human and drug trafficking, kidnapping, illicit financial flows, and other forms of organized crime.
Major General Adamu Laka, national coordinator of the National Counter Terrorism Centre under the Office of the National Security Adviser, disclosed this in Abuja during the validation of the strategy document.
He said the strategy provides a coordinated national framework for tackling organized crime through improved intelligence sharing, stronger collaboration among security agencies, and closer cooperation with the criminal justice system, civil society organizations, and international partners.
Major General Laka explained that the document was developed through a partnership involving the Federal Government, the United Nations Office on Drugs and Crime (UNODC), the United States Government, and other stakeholders.
Speaking at the event, Cheikh Toure, UNODC representative, said the strategy would strengthen Nigeria’s capacity to combat transnational crimes, including drug trafficking, cybercrime, human trafficking, kidnapping, and illicit financial flows.
Also speaking, Douglas Grane, acting director of the United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs, reaffirmed the U.S. government’s support for Nigeria’s efforts to tackle organized crime through stronger inter-agency and international cooperation.
Representatives of the National Institute for Strategic Studies, the Nigeria Financial Intelligence Unit, and the National Cyber Security Centre also endorsed the initiative, describing it as a major step towards improving Nigeria’s fight against organized crime.
FATE Foundation, with funding from the Citi Foundation, has launched the Youth Entrepreneurship Incubation Programme to equip young people in Nigeria with financial literacy and entrepreneurship skills.
Delivered through free, safe, and accessible platforms, the programme supports the incubation and scaling of youth-led enterprises, enabling income generation and job creation.
In October 2025, FATE Foundation was selected as a recipient of Citi Foundation’s 2025 Global Innovation Challenge to Accelerate Youth Employability. Joining the cohort of 50 organisations globally, the Foundation will receive $500,000 over two years to advance its youth employability initiative.
“We are excited to be selected for Citi Foundation’s 2025 Global Innovation Challenge,” said Ayomide Akindolie-Igwe, Executive Director of FATE Foundation.
“This support enables us to equip young entrepreneurs in Nigeria with the financial literacy and skills needed to build and scale sustainable businesses.”
The programme addresses youth employability by tackling Africa’s growing jobs crisis. By 2030, the African continent will be home to 40% of the world’s youth, and with one in three under 35 already unemployed, this initiative will support Nigerian youth with a two-phase approach. It begins with financial literacy training before progressing to entrepreneurship development, incubation support, and access to tools needed to build viable, job-creating businesses.
“Through this innovative initiative, FATE Foundation is supporting low-income Nigerian youth to develop essential financial and entrepreneurial skills using accessible platforms.
“This support is not just helping individuals to succeed; it is building a solid foundation for sustainable enterprises that will drive job creation and contribute significantly to our nation’s economic vitality. This initiative is empowering and investing in the future of Nigeria, one youth at a time,” said Nneka Enwereji, MD/CEO Citibank Nigeria Limited.
Dangote Refinery’s Private Placement Reportedly Hits $2.5Bn
FG, UNODC Plan National Strategy against Organized Crime
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
CBN to Monitor Every Dollar with FXBT, Forex Tracker
NCC, NDLEA Partner to Fight Piracy and Drug Trafficking
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
News3 days agoValueJet Expands Fleet with Boeing Aircraft, Targets Wider African Network
Telecom3 days agoHelios Towers Secures $29m Facility to Expand Across Africa
News3 days agoCourt Orders Final Forfeiture of 48 Properties Linked to Former AGF Abubakar Malami
E-Financial3 days agoFirst Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
Telecom3 days agoNCC Begins Stakeholder Consultation on MVNO Business Rules
News3 days agoCourt Grants Former CCT Chairman Danladi Umar N100m Bail Over EFCC Charges
Telecom3 days agoSurge in Fibre Cuts Hobbles Service Provisioning
Broadcasting3 days agoNBC Scraps Annual Digital Access Fee on DSO