Broadcasting
New Broadcast Code: Assault on Market and Democracy
By ‘Kanmi Ademiluyi
With the focus on survival due to the coronavirus pandemic, out comes a not-so-cleverly-disguised assault on the operations of an economy based on the efficacy of the market, but also a potential limitation on the plurality which anchors a democracy.
As democrats and with the backdrop of the observation of the first celebration of the defining date of June 12 as Democracy Day, it is unsafe to allow the existential threat of COVID-19 to make us complacent about opaque threats to the country’s hard-won democracy, which is still a work in progress.
The threat to innovation, the consolidation of intellectual property rights as well as the operations of a market-propelled economic system by the 6th National Broadcasting Commission (NBC) Code should not be allowed to distort the country’s political economy.
The ethos of the code released to the public by the NBC on May 27 is in direct contradistinction to the thrust of the President Muhammadu Buhari administration to build a society that ensures those who produce and create sustainable jobs are given the pride of place, as opposed to the ethos which fetes those who deal in favours.
The latter is what the celebrated Afrobeat exponent, Fela Anikulpao-Kuti, decades ago, famously branded “Paddy, Paddy arrangements”.
The cronyism-fired arrangements described by Fela not only failed to deliver economic growth, but crucially stifled innovation and made the country uncompetitive with disastrous results.
The country is still paying the price for cronyism and incestuous market-distorting economic relationships till date.
Although in its opening gambit, the 6th NBC Code peddles a sanctimonious sermon: “To maintain and promote efficient market and conduct effective competition in the broadcast industry in Nigeria…”, looked at closely, it is anything but pro-competition.
For the evolution of modern market-oriented economies in democracies is underpinned by a robust defence of intellectual property rights as a propelling trajectory in innovation and content development.
This has been the source of the continued success of places like Hollywood, Bollywood and other media markets.
Dangerously, swathes of provisions in the code prohibit exclusivity, ominously compel content sub- licensing to competitors and empowers the NBC to determine sub-licensing fees in the event of a dispute.
These provisions will certainly inhibit investments in Nigeria’s potentially rich and relatively untapped local content production sector.
What is intended through the backdoor in the absence of open hearings in full public glare and with the inputs of all stakeholders is a brutal assault on intellectual property rights, the prospects of content development as well as diversity, which are vital ingredients in a market economy.
These stifling provisions are straight out of the Command Economy playbook. This is odd. Command economies exhausted the limits of their possibilities and imploded decades ago.
No wonder the promoters are in mortal terror of open public hearings, which will clearly expose the shenanigans and the real anti-competitive intent underneath the sanctimonious sermons. As stated by major stakeholders, the Code was finalised without input from them.
All of this is bizarre in an industry oiled by creativity in which whole financial instruments have been developed, whereby trading in intellectual property rights is taking place very much as a commodity.
Eroding proprietary rights by making exclusivity illegal and compelling [this is as draconian as is imaginable] sub-licensing of content and regulating price (remember the debacle of previous corruption-fuelled attempts at “price controls”?) will clearly stifle private enterprise with the sort of interference, which begins by distorting markets and eventually kills them off.
The contempt of the framework accepted internationally in intellectual property safeguards and commercial proprietary rights is mind-boggling.
The purported objective of the related provision is an enthronement of fair market competition, especially for new market entrants.
It compels rights owners to live foreign sporting events, for example, to offer such to broadcasters on different platforms at an agreed fee and in the event of a dispute, the NBC will determine what is to be paid. The Code also prohibits the bundling of Nigeria “in the same basket with other countries in the sale of football rights.”
Acquisition of sports broadcasting rights is a commercially-competitive process, with the prerogative of how to sell and to whom exclusively that of the rights owners.
Code’s sub-licensing proposal does not take cognizance of the fact a licensee, which has acquired the rights after paying competitive a rate, suffers an inability to differentiate its service from that of competitors— to whom it’s forced to sell at a regulated maximum price—and an erosion of the value of the rights because it cannot use them exclusively.
The Code similarly ignores the fact that granting of sub-licensing rights is not guaranteed, leaving a licensee with the burden of having to negotiate for sub-licensing rights for which the owner— knowing a re-sale is in the offing— will demand a substantially heftier sum. It is not just broadcasters of live foreign sports content that will be affected by the bid to institute a command economy process. It is also a doomsday scenario for general entertainment platforms such as Filmhouse Cinema, Africa Magic, Netflix, Irokotv and prospective entrants. With this framework, no investor in his/her right mind will waste money and energy developing content to then donate to those who deal in favours.
If implemented, the code will bring an end to pay TV in Nigeria. The multiplier effect will manifest in job losses and leaner tax revenues.
Out of obscurity over three or so decades, a vibrant creative industry has developed in Nigeria, a tribute to the country’s commercial attributes and can-do attitude.
The industry has shown that economic diversification can be translated into more than shibboleths and vacuous sloganeering.
The industry has shown the way and made us all proud. Any readjusting of a winning model must, at least, be preceded by multi-stakeholder consultations and public hearings.
The latter, vitally, will see the consumers making input and helping to build a consensus for the benefit of all.
This will prevent the rent-seekers who have continued to swing a wrecking ball at the economy, seeing the creative industry as just another gravy train to hop on. It will be tragic if that happens.
Ademiluyi, an economist and journalist, wrote from Oshogbo.
Broadcasting
NBC Files Fresh Appeal against Judgment Barring it from Imposing Fines on Broadcast Stations
National Broadcasting Commission (NBC) has filed an application seeking the permission of the court of appeal to file a fresh appeal against the judgement of the federal high court in Abuja barring it from imposing fines on erring broadcast stations.
In the application filed at the court of appeal in Abuja by Dapo Akinosun, counsel to the NBC, the commission argued sanity in Nigeria’s broadcasting sector is under threat and that the public interest would be better served if the court grants the application.
On January 17, 2024, Rita Ofili-Ajumogobia, a judge at the federal high court in Abuja, restrained the NBC from imposing a N5 million fine on broadcast stations sanctioned in 2022 over allegations of “undermining Nigeria’s national security by broadcasting documentaries on banditry in Nigeria”.
The affected broadcast stations were Multichoice Nigeria Limited, owners of DSTV; TelCom Satellite Limited (TSTV); Trust-TV Network Limited; and NTA StarTimes Limited.
The suit was filed by Media Rights Agenda (MRA).
Dissatisfied with the ruling, the NBC appealed the judgement filed an appeal at the court of appeal in Abuja.
In June, the court of appeal dismissed the commission’s appeal, holding that it was “fundamentally defective” and incompetent.
Jane Inyang, lead judge of the panel, held that the parties before the lower court were identified as “Incorporated Trustees of Media Rights Agenda (as applicant) and National Broadcasting Commission (as respondent)” but in the notice of appeal the purported appellant was described as the “Nigerian Broadcasting Commission”,
The judge held that the discrepancy was significant and that the court lacked jurisdiction to entertain the commission’s appeal.
In the application, the NBC urged the court to grant it leave to raise and argue a fresh issue on appeal relating to the legal capacity of MRA to institute and maintain the original suit before the lower court.
The commission argued that the defect in the earlier notice of appeal, which resulted in the dismissal of its appeal, arose “solely from an inadvertent misdescription” of its name by its lawyer.
The NBC told the court that the subsisting judgement raises questions on the commission’s statutory powers to regulate broadcasting and enforce compliance with broadcasting standards in Nigeria.
The commission argued that the subsisting judgment is capable of creating uncertainty regarding its regulatory powers if it is allowed to stand.
The NBC also argued that without the pronouncement by the appellate court on the issues raised in the appeal, its regulatory framework would be weakened.
“A weakened regulatory framework may embolden non-compliance with established broadcasting standards, thereby increasing the dissemination of false, misleading and unverified information capable of causing unnecessary public anxiety, panic and social unrest,” the NBC said.
“Absence of effective regulatory oversight may further encourage irresponsible broadcasting practices and the misuse of broadcast and digital media platforms by persons who deliberately publish sensational, inaccurate or inflammatory content to intimidate, harass or unduly influence individuals, institutions and public discourse.”
David Adedeji Adeleke, known professionally as Davido, has shared his past suicidal thoughts as he dropped Oriadé, his sixth studio album yesterday.
Davido
Davido said he chose the date on purpose as it marks exactly 15 years since he began his professional music career.
Oriadé is a Yoruba word combining “Ori,” meaning destiny, and “Adé,” meaning crown.
It translates to “the crowned head.” The album has 13 tracks and features Black Sherif, Aya Nakamura, Leon Thomas, Mayorkun, and Llona.
It follows his 2025 project, 5ive, which reached number two on the Billboard World Albums chart.
Davido also announced an international tour to support the new record.
In the days leading up to the release, Davido gave interviews that revealed personal details about his past and his current life.
Speaking to Vibe Magazine on Thursday, he described a 2014 incident in Ghana that left him feeling suicidal.
He said he invited a woman back to his hotel room after a show, and she later posted a photo of him sleeping online.
He said the fallout overwhelmed him.
“My daddy was calling me. My sisters were calling me. If I saw the balcony that day, I would have jumped,” he said.
He said he was young at the time and did not fully understand the consequences of his actions.
He described the experience as a turning point that changed how he thinks about privacy and fame.
In the same interview, he explained why he often dresses down in public despite his wealth.
He recalled a trip to the South of France where he went out in shorts and slippers without his watch.
“I’ve been on jets, I’ve been flying, I’ve been in all these places since I was a baby. I’ve been seeing money since I was a baby. So all these things don’t really excite me,” he said.
He added that he sometimes prefers to drive a Toyota to the supermarket in Atlanta instead of one of his luxury cars.
In a separate livestream with Davrel, Davido spoke about how his life has changed since marrying his wife, Chioma, and becoming a father.
He said his home no longer holds the large crowds it once did.
“I can no longer have 100 people in my house like before,” he said.
He said he speaks to Chioma every day regardless of his schedule.
He also disclosed that he spends between $200,000 and $300,000 a month on himself, not including costs for his wife, children, jewelry and cars.
He said the amount is lower when he is in the United States, where he described his lifestyle as quieter.
Africa Prudential Plc has reaffirmed its commitment to digital transformation, revenue diversification and sustainable growth after reporting a strong financial performance for the first half of 2026.
Dr Catherine Nwosu
The company made this known during its H1 2026 Investor Call, which brought together institutional investors, shareholders, investment analysts, regulators and other stakeholders to review its financial performance and strategic outlook.
Dr Catherine Nwosu, managing director and Chief Executive Officer of Africa Prudential, said the company’s performance reflected the resilience of its business model and the effectiveness of its long-term growth strategy despite prevailing macroeconomic challenges.
According to the company’s financial results, gross earnings rose by 27 per cent year-on-year to N4.28 billion, from N3.34 billion recorded in the corresponding period of 2025.
Profit before tax increased by 22 per cent to N2.41 billion, while profit after tax grew by 18 per cent to N1.59 billion.
The company also reported a 27 per cent rise in net operating income to N4.21 billion, while total assets increased by 13 per cent to N46.53 billion.
Shareholders’ funds equally rose by 13 per cent to N12.52 billion, reflecting continued financial strength.
Management attributed the performance to sustained growth in its core registrar business, increased corporate action activities in the Nigerian capital market, improved treasury earnings and rising adoption of its technology-driven solutions.
The company said it was steadily transforming from a traditional share registrar into a broader technology and business solutions provider serving Nigeria’s capital market ecosystem.
During the interactive session, investors sought clarification on the sustainability of earnings, particularly as interest rates are expected to moderate.
Responding, Nwosu said the company was deliberately expanding its recurring fee-based revenue streams to reduce dependence on treasury income.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams.
“Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, Annual General Meeting (AGM) technology, probate services and the SabiVest mobile app.
“Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
Nwosu noted that increasing capital market activities had created stronger demand for seamless digital investor experiences, improved operational efficiency and enhanced compliance solutions.
She said the company would continue investing in technology-enabled products capable of delivering long-term value to shareholders while strengthening its competitive position.
According to her, Africa Prudential has identified five strategic priorities for the second half of 2026.
The priorities include driving sustainable growth across its core registrar and emerging business lines, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and deepening corporate governance.
She said the investor engagement demonstrated the company’s commitment to transparency, accountability and regular engagement with shareholders and the investment community.
Africa Prudential reaffirmed its commitment to leveraging innovation, operational excellence and sound financial management to sustain growth and strengthen its leadership position in Nigeria’s capital market.
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