NEWS
NBC suspends shutdown of 53 broadcast stations after IPI Nigeria’s intervention
By John Mommoh
Following the intervention of the Nigerian chapter of the International Press Institute, the National Broadcasting Commission (NBC) has suspended the revocation of the operating licenses of 52 broadcast stations owing various sums in licensing fees.
NBC has now given the affected stations up to 6PM on Tuesday, August 23, to pay up their debts.
In revoking the licenses on Friday, the commission had ordered the stations off air beginning this Saturday, citing Section 10(a) of the 3rd Schedule of the National Broadcasting Commission Act CAP N11, Laws of the Federation of Nigeria, 2004.
The provision says, “10. A licence may be revoked by the Commission in the following cases, that is (a) where the prescribed fee has not been paid on the due date…”
After the announcement, IPI Nigeria engaged the Ministry of Information and Culture, the NBC, and the Broadcasting Organisation of Nigeria (BON) to explore an amicable resolution of the dispute.
“We are glad to report that the Director General of NBC, Malam Balarabe Shehu Ilela, has graciously agreed to grant an extension on compassionate ground,” IPI Nigeria President, Musikilu Mojeed, said on Saturday.
“Even though this is a temporary relief, we are hopeful that all parties will engage in the next few days with a view to arriving at a lasting resolution of the matter. We thank the Minister of Information, Alhaji Lai Mohammed, and Mallam Illela for listening to us and allowing a window for dialogue.
“During our engagement with the Commission, NBC explained that the commission had in the past granted several concessions to broadcast organisations, including writing off substantial parts of their debts and engaging them consistently to fulfill their financial obligations to the regulator.
“We implore the affected broadcasting organisations to take advantage of this window of opportunity by reaching out to NBC.
“Nobody benefits when broadcasting stations are shut down. Members of the public have come to rely on these stations to know what their governments are doing to keep them safe in this challenging security environment. Other governments’ policies are also disseminated to the public through these channels.
“In view of the nation’s economic downturn, we further appeal to the affected broadcast stations and NBC to agree on a workable payment arrangement of the outstanding dues.”
The alleged mastermind behind the violent assault on the Abuja-Kaduna passenger train in March 2022, identified as Ibrahim Abdullahi, also known as Mandi, has been apprehended by the police.
Public Relations Officer ACP Olumuyiwa Adejobi revealed during a press briefing in Kaduna on Thursday that the suspect was also involved in the abduction of students from Greenfield University in 2021.
Following Mandi’s arrest, police confiscated 48 AK-47 rifles and are currently working to trace his sponsor and the source of the weapons.
More to follow……
Numerous individuals sustained injuries following a confrontation between rival groups in the Ile-Epo vicinity of Lagos State.
According to reports, the altercation erupted within the local market on Wednesday night and persisted into Thursday morning.
During the clash, several shops were set ablaze, and merchandise was vandalized. Despite efforts by law enforcement, the intervention was hindered by the aggressors.
This morning, a fire service truck attempting to enter the market was compelled to retreat after being bombarded with stones by unidentified assailants.
See video below:
The Nigerian Exchange Group Plc (NGX Group) has unveiled stellar Q1 2024 results, signaling a promising trajectory for the company.
Biztellers reports that this is coming shortly after the company’s 63rd Annual General Meeting (AGM).
From the results made available on Thursday, the Group reported an impressive N2 billion in Profit before Tax (PBT), bolstered by robust growth in operating margins and operational efficiencies.
From the results, Profit After Tax (PAT) rose to N1.3 billion, marking a remarkable 332% increase from the N310 million recorded in Q1 2023.
The NGX claims that “This exceptional performance underscores the group’s unwavering commitment to excellence and strategic growth initiatives”.
Recall that at the AGM, the NGX Group announced plans to capitalize on digital distribution for the upcoming recapitalization exercises mandated by the Central Bank of Nigeria (CBN).
Additionally, the group disclosed a strategic acquisition of a stake in the Ethiopian Stock Exchange, securing a seat on the bourse’s board.
These decisive moves align with the group’s overarching strategy to expand its business operations and solidify its position in the regional market.
In a bid to secure long-term sustainability and drive growth, the NGX Group implemented a strategic optimization initiative. This comprehensive plan encompasses a strategic reduction in workforce size, accompanied by significant salary increases for retained staff.
The initiative aims to streamline operations, enhance efficiency, and optimize resources, fostering a more competitive and agile organization.
The exercise follows a thorough review of the group’s operations, which revealed opportunities for optimization and improved competitiveness. The NGX Group remains steadfast in its commitment to innovation, customer satisfaction, and building a resilient organization poised for sustainable growth.
The recent approval by shareholders of a N10 billion capital raise underscores investor confidence in the NGX Group’s strategic direction and its unwavering commitment to driving sustainable growth and value creation.
The NGX Group remains dedicated to serving its customers, partners, and stakeholders, confident that these strategic measures will pave the way for future success. The company’s focus remains on innovation, customer satisfaction, and building a resilient organization poised for growth.
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