Broadcasting
Unique Selling Point in the Den
Dragons Den Nigeria has empowered young entrepreneurs across the country with business advice from five experienced and successful businesspersons selected from various sectors of the economy.
However, only two entrepreneurs – Yusuf who got an investment of 10 million naira in his business "
Naijacities.com"and Alsu Odewinge who got 3 million naira investment for her "Start-Up City" business – have been able to convince the dragons enough.
The first entrepreneur in this episode, Idowu Oluwakayode, came to the den seeking a 15 million naira investment (for 40% equity) from the dragons to boost his product "H2Jo"- which according to him was a new idea developed to fizzle out the production of water in sachets.
He was to package table water in 50cl plastic cups, an idea that put him under the dragons’ fire. The last straw however was when he stated he was going to recycle the containers to which Ishmael was quick to point out the health implications – he got no investment.
Martin the second entrepreneur had come to the den seeking 50 million naira in exchange for 20% equity in his business "Doctor-on-Phone" which would offer assistance during medical emergencies via the telephone.
The dragons considered the idea a high-risk one since he was not sure of the availability of medical doctors at the time of distress, the absence of physical contact between the doctors and patients to be able to make diagnosis and lastly, the legal implications of falling short of service.
Martin got no deal.
The third entrepreneur, Oluwaseun Kayode needed 2 million naira for his business of designing books in African fabric covers and was ready to part with 30% equity. His current unit production cost was estimated at about 550 naira, and he intended to retail the books at 700 naira.
However, Awosika and Parkes observed that the prototype he presented was not well done and so, the dragons lost faith in that venture.
Ibrahim Jairo was the fourth entrepreneur who came with a proposition to establish a computer gaming arcade in Abuja, and was looking for N9,995,000 (nine million, nine hundred and ninety-five thousand naira).
The idea raised serious copyright issues. This coupled with the fact that he did not conduct an extensive feasibility study of the business sent him out of the Den without a deal.
The fifth entrepreneurs, Frank and Erastus wanted 4.5 million naira to give up 20% equity in their business, "Nigerian Sales Genie", a site where people can come buy and sell products and services. In other words, an online-classified advert portal.
On close examination, the dragons discovered they had not laid any foundation for this business and Amosu’s final comment decided their fate.
They had lost out but with words of encouragement from Momoh.
Babajide Oyeleye, the sixth entrepreneur came seeking 18 million naira for "Emergency Kits for Cars" in exchange of 40% equity in the business.
He came to display towing ropes assembled in Nigeria, to help motorists when they experience vehicle breakdowns. But the dragons aptly pointed out that the business had no uniqueness and no testimonial from any monitoring organization like the Road Safety Commission of Nigeria – they opted out.
The last entrepreneurs for this episode were the siblings Nuyin and Damilola, who came to raise 30 million naira in exchange for 40% equity in their "24-hour Electrical and Electronics Repair Centre," that could provide solutions to every electrical need within Lagos once the customer dials their company.
Well, the dragons did not invest but the trio of Awosika, Parkes, and Ishmael offered them an opportunity to return for more talks when they have prepared a more functional business plan. .
Bright Echefu, chief executive officer, Telecom Satellites Limited (TStv), and three co‑defendants appeared before the Federal High Court in Abuja yesterday on an amended twelve‑count indictment brought by the Economic and Financial Crimes Commission (EFCC). The charges allege money laundering, tax evasion, and investment fraud involving approximately ₦1 billion and $1.3 million.
Bright Echefu, chief executive officer, TStv
In addition to Echefu, the defendants are TStv Executive Director, Felix Igboanuga, Telecom Satellites Limited itself, and Briechberg Investment Ltd.
According to the April 5, 2025, amended charge sheet the EFCC accuses the quartet of defrauding Mr. Tanimu Turaki, Managing Director of Kalsiyam Global and former Minister of Special Duties, alongside BYI General Limited, out of a combined investment of ₦1 billion and $1.3 million. The commission has also included a ₦66 million alleged tax default.
The revised indictment lists:
Count 2: ₦33,909,542.47 in unremitted Company Income Tax
Count 3: ₦13,519,382.00 in unremitted VAT
Count 4: ₦19,488,860.00 in unremitted PAYE
Counts 5–12: Various fraud‑related transactions, including ₦380 million from Kalsiyam Farm, ₦400 million from BYI General Ltd and $1.35 million in loans secured under false pretences.
All defendants pleaded not guilty once again. At the hearing before Justice Mohammed Umar, Echefu’s lead counsel, Senior Advocate Eyitayo Fatogun, informed the court of ongoing settlement discussions with the complainants.
“There are moves to settle this matter and there was a meeting on Saturday between myself and the Nominal Complainant as it is about investment,” Fatogun stated.
“The Defendants have paid some money and I was thinking that the matter be adjourned for report of settlement.”
EFCC counsel A.S. Tomwell confirmed receipt of those payments but emphasized the necessity of entering a plea before considering any adjournment. The court thus ordered the formal reading of the charges and adjourned the trial to October 15, 2025.
The government of Ghana has ordered MultiChoice Ghana to reduce DSTV subscription costs by 30%, noting the significant appreciation of local currency and growing dissatisfaction with current rates.
This comes as Nigeria Data Protection Commission (NDPC) has fined MultiChoice Nigeria ₦766,242,500 for breaching the Nigeria Data Protection Act (NDPA).
According to Mr Babatunde Bamigboye, head Legal, Enforcement & Regulations, NDPC, the investigation, which commenced in the second quarter of 2024, was triggered by suspected breach of privacy rights of Multichoice subscribers and illegal cross-border transfer of personal data of Nigerians.
MultiChoice, which operates across Africa, continues to lose revenue and subscribers.
Ghana’s minister of communication, digital technology, and innovation, Samuel Nartey George, made the call last week during a meeting with a DSTV team led by Dr. Keabetswe Modimoeng, group executive for regulatory and corporate affairs.
According to a ministry statement, George said the government’s responsibility is to respond to Ghanaians’ concerns over high DSTV pricing and outdated content offers.
The Minister pointed out that despite a 30% increase in the cedi’s value over the past five months; DSTV prices have not reflected the positive economic trend.
The statement went on to say the minister is therefore calling for a 30% price reduction to match the cedi’s appreciation and to pass on economic benefits to consumers.
According to the statement, while MultiChoice has implemented promotional packages, people prefer a direct price reduction over temporary discounts.
George said feedback from public engagements revealed that many users are dissatisfied with DSTV’s content, describing it as outdated save for Premier League football. They also believe that the current cost is not justified.
”To address the concerns, he said MultiChoice Ghana has until July 21 to formally respond to the government’s request. The Minister expects a concrete proposal by this date, allowing time for further engagement before the end of July,” the statement said.
In response, Dr. Modimoeng acknowledged the government’s concerns and expressed gratitude for the opportunity to dialogue.
The MultiChoice team reacted positively to the minister’s request and committed to provide input by July 21st. They emphasised the need of balancing public interest and business sustainability.
This is the continent’s latest pricing conundrum for the pan-African pay-TV business, following fee disputes with Nigerian and Malawian authorities.
In Ghana, the demand for price cuts comes as MultiChoice is under pressure, having lost revenue and subscribers in the financial year that ended March 31, 2025. Last month, the company announced its financial year-end results.
In a statement to shareholders last month on the Stock Exchange News Service, the company said the past two financial years have been a period of significant financial disruption for economies, corporates and consumers across Sub-Saharan Africa due to challenging macro-economic factors.
Combined with the impact of structural industry changes in video entertainment, such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group, it noted.
Over this period, MultiChoice said the group lost 2.8 million active linear subscribers and had to absorb a R10.2 billion negative impact on its top line due to local currency depreciation against the US dollar.
For the year, the company reveals that linear subscribers were down 1.2 million, or 8% year-on-year, to 14.5 million active subscribers, with the loss evenly split between South African (600 000) and rest of Africa (600 000).
Nigeria Data Protection Commission (NDPC) has fined MultiChoice Nigeria ₦766,242,500 for breaching the Nigeria Data Protection Act (NDPA).
NDPC is a public institution that processes data in furtherance of its mandate as Nigeria’s data protection authority and relies on recognised lawful bases for data processing, such as consent, legal obligation, and contract.
The fine was contained in a statement signed by Mr Babatunde Bamigboye, head Legal, Enforcement & Regulations, NDPC.
According to him, the investigation, which commenced in the second quarter of 2024, was triggered by suspected breach of privacy rights of Multichoice subscribers and illegal cross-border transfer of personal data of Nigerians.
“The NDPC found, among others, that Multichoice violated the data privacy rights of subscribers and their friends who are not necessarily subscribers.
The Commission also found that Multichoice carries out illegal cross-border transfer of personal data relating to data subjects in Nigeria.
The depth of data processing by Multichoice is patently intrusive, unfair, unnecessary, and disproportionate.
This is a grave affront to fundamental right to privacy as enshrined in Section 37 of the 1999 Constitution of the Federal Republic of Nigeria.
In line with its standard remediation procedure, the Commission directed Multichoice to carry out appropriate remedial measures.
However, the Commission found the measures undertaken by Multichoice in this regard unsatisfactory.
For want of cooperation, the Commission has directed Multichoice to pay ₦766,242,500 for violating the Nigerian Data Protection Act.
“Nigeria is entitled to protect her citizens and data sovereignty under both international and extant municipal laws, as these have far-reaching implication for rule of law, national security, and economic growth.” the statement said.
Babatunde also revealed that, Vincent Olatunji, national Commissioner, NDPC, has directed that all outlets through which Multichoice is collecting personal data of Nigerian citizens should be investigated for non-compliance.
He added that any outlet that processes personal data in violation of the NDP Act is liable to penalty under the Act.
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