General News
Stanbic IBTC Money Market Fund Rated Aa(f)
Stanbic IBTC Money Market Fund, one of the six Mutual Funds managed by Stanbic IBTC Asset Management Limited and regulated by the Securities & Exchange Commission (“SEC”) has recently been assigned a fund rating AA(f) by Agusto & Co., Nigeria’s reputable credit rating agency. This is the highest rating so far conferred on a Mutual Fund managed in Nigeria by the rating agency.
According to the Agusto & Co., the rating denotes a fund with “minimal exposure to downside risk (i.e. impairment of the net asset)”. Established in 2009, the fund is ideal for conservative investors looking to optimize cash balances that might be required in a short period of time. The Fund has a capable Investment Management team with an average of 10 years financial services experience and a well established investment process.
Yinka Sanni, chairman, Stanbic IBTC Asset Management Limited while commenting on the feat said the company will continually leverage its robust risk management framework to safeguard and ensure optimal return on investment for investors in the company’s Mutual Funds. This, he said, is anchored on strict adherence to global best practices by the fund manager.
“Stanbic IBTC Asset Management Limited is committed to implementing initiatives that improve corporate governance for the benefit of all stakeholders. We remain steadfast in implementing governance practices that comply with international best practice”, Mr. Sanni said.
According to Olumide Oyetan, chief executive officer of Stanbic IBTC Asset Management Limited, “the Stanbic IBTC Money Market Fund is a collective investment scheme that invests in a wide range of very liquid short-term money market instruments such as Guaranteed Commercial Papers, Bankers’ Acceptance, Term Deposits and Certificates of Deposit, among others, with domestic banks in Nigeria”.
He said the Fund invests 100% of its assets in low risk money market securities (including treasury bills) with financial institutions in Nigeria rated “A” and above by credit rating agencies recognized by the SEC. The Fund is geared to rival direct money market placements and has the added advantage of making quarterly distribution of income which is very important for investors who require periodic liquidity. The effective yield net of fees on Stanbic IBTC Money Market Fund as at 31 December 2011 was a competitive 15.44% which was available to subscribers with a minimum investment of N50,000.
Other mutual funds under management by Stanbic IBTC Asset Management Limited include: Stanbic IBTC Nigerian Equity Fund, which is currently Nigeria’s largest mutual fund; Stanbic IBTC Ethical Fund, Nigeria’s first socially responsible quoted mutual fund, which allows subscribers to make long-term investments without compromising their religious beliefs or principles; Stanbic IBTC Guaranteed Investment Fund; Stanbic IBTC Bond Fund and more recently Stanbic IBTC Balanced Fund. Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Bank Group is a member of Standard Bank Group.
Overall, the Stanbic IBTC Group has managed funds for Pension Funds, Retirement Benefit Schemes and High Net worth Individuals since the late 1980s. Stanbic IBTC Asset Management Limited’s current list of portfolio management clients includes many large multinationals and blue chip companies.
General News
Nigeria Targets Satellite-to-Mobile Services in Draft Spectrum Roadmap

Nigerian Communications Commission (NCC) has unveiled a forward-looking strategy that places satellite-enabled mobile connectivity at the heart of the country’s drive to bridge its long-standing coverage gaps.

The draft Spectrum Roadmap for the Communications Sector for 2025 to 2030 lays out how satellite technologies could help deliver reliable voice and data services to millions of Nigerians who live beyond the reach of conventional mobile networks.
The direction is outlined in the Commission’s draft Spectrum Roadmap for the Communications Sector covering the period.
The proposed approach highlights non-terrestrial networks as a complement to existing mobile infrastructure, especially in areas where terrain, insecurity, or high costs limit the deployment of base stations.
The NCC said D2D satellite technology, which allows standard mobile phones to connect directly to satellites, is gaining traction globally as a means of delivering voice and data services without reliance on ground towers.
According to the regulator, the technology could help close persistent coverage gaps in rural, riverine, and border communities that remain outside the reach of conventional networks.
It also noted that satellite-backed connectivity could improve network reliability by providing alternative links during fibre cuts, power failures, or other disruptions affecting terrestrial systems.
The Commission added that wider adoption of D2D services could support emergency communications, public safety operations, Internet of Things applications, and services such as smart agriculture in underserved regions.
It also pointed to potential investment opportunities through partnerships between mobile network operators and satellite companies, including more efficient use of shared spectrum resources.
Beyond D2D services, the roadmap places emphasis on Low-Earth Orbit satellites to expand broadband access to remote parts of the country.
It also proposes better utilisation of Geostationary Orbit satellites and the exploration of high-altitude platforms, such as stratospheric balloons, to support mobile backhaul and rural connectivity.
The policy signals come shortly after Airtel Africa announced an agreement with SpaceX to introduce Starlink-powered direct-to-cell services in Nigeria.
The NCC’s roadmap is expected to shape future spectrum allocation, licensing decisions, and technology adoption across the telecommunications sector.
General News
House of Reps Releases Certified Copies of Tax Reform Acts amid Gazette Discrepancy Claims

House of Representatives has released certified true copies of the four tax reform Acts signed into law by President Bola Tinubu, addressing public concerns over alleged discrepancies between legislative versions and circulated gazetted documents.

Tax Reform Acts
House spokesperson, Akin Rotimi, disclosed this in a statement, noting that Speaker Tajudeen Abbas directed the immediate publication of the Acts—including endorsement and presidential assent pages—for public verification, in collaboration with Senate President Godswill Akpabio.
The move followed allegations raised by Rep. Abdulsamad Dasuki on the House floor, highlighting inconsistencies between Bills passed by the National Assembly and executive gazetted versions, which he warned could erode legislative integrity and public trust.
Abbas constituted a seven-member ad hoc committee chaired by Rep. Aliyu Betara, with members including Idris Wase, Sada Soli, Adedeji Faleke, Igariwey Iduma, Fred Agbedi and Babajimi Benson, to investigate the alleged alterations, unauthorised circulation and preventive measures.
The committee’s mandate includes probing circumstances around the discrepancies, while Abbas ordered internal verification and public release of certified copies to dispel doubts and safeguard legislative records. Legal experts, tax professionals and civil society had demanded clarification and implementation suspension amid heated debates triggered by Dasuki’s intervention.
The released laws comprise the Nigeria Tax Act, 2025; Nigeria Tax Administration Act, 2025; National Revenue Service Establishment Act, 2025; and Joint Revenue Board Establishment Act, 2025, described as foundational to modernising Nigeria’s tax system.
These reforms aim to enhance compliance, curb inefficiencies, eliminate overlaps and bolster fiscal coordination across federal, state and local tiers, following extensive stakeholder consultations, committee reviews and plenary debates under Abbas’s leadership.
Rotimi reassured Nigerians: “The National Assembly is an institution built on records, procedure, and institutional memory. Every Bill, every amendment, and every Act follows a traceable constitutional and parliamentary pathway.”
He emphasised that only National Assembly-certified versions hold authority, urging the public, institutions and stakeholders to disregard all other circulating documents as unofficial.
General News
MultiChoice Secures 12 Warner Bros. Discovery Channels in New Multi-Year Deal

MultiChoice, a CANAL+ company, has retained the distribution rights to 12 Warner Bros. Discovery thematic channels following the signing of a new multi-year, multi-territory agreement between CANAL+ Group and Warner Bros. Discovery, marking a significant expansion of their long-standing partnership.

MultiChoice
The new deal, which spans several regions across Africa and Europe, covers the distribution of HBO Max as well as the renewal of selected Warner Bros. Discovery thematic channels. It represents a major milestone in the companies’ international collaboration and strengthens content offerings across MultiChoice Group territories.
MultiChoice disclosed that this agreement builds on earlier partnerships concluded in Europe. “It builds on the landmark agreements concluded in France in 2024,including the renewal of the exclusive pay-TV window for Warner Bros. Pictures films just six months after their theatrical release in France and the integration of HBO Max within select CANAL+ group offers – as well as in Poland in 2025, with the renewal of the distribution agreement for 22 thematic channels (including TVN 24 and Eurosport) and 4 free-to-air channels (including TVN).”
Under the renewed arrangement, MultiChoice Group will continue to distribute 12 Warner Bros. Discovery thematic channels across its territories, with some channels offered on an exclusive basis. CNN International and Cartoon Network will remain exclusive to South Africa while being distributed non-exclusively in other markets. Cartoon Network Porto will be exclusive in Angola and Mozambique and non-exclusive elsewhere. Other channels such as Discovery Channel, TLC, HGTV, Food Network, TNT Africa, Travel, ID and Cartoonito will be offered on a non-exclusive basis.
According to the partners, the deal reinforces CANAL+ Group’s channel portfolio on the continent. “This agreement enables CANAL+ Group to strengthen its entertainment, kids, news, and documentary channel offerings in African markets.”
The agreement is also expected to improve access for CANAL+ Group subscribers to Warner Bros. Discovery’s premium content through HBO Max and selected channels, including globally recognised series and films, further extending the studio’s international reach while consolidating MultiChoice’s content offering in key markets.
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