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Breaking: FIRS sues Binance for $79.51b over alleged economic losses on behalf of FG

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Zacch Adedeji @ 47: Celebrating a Man of Exceptional Grace, Excellence By Dare Adekanmbi Ecclesiastical evidence abounds to affirm that God does not look at people or issues through the same prism from which human beings perceive matters. As mortals, we give primacy to mundane parameters as appearance or outward adornments, height or whether the person is oozing opulence or simply look at nobility of a person’s birth before ascribing value or judgment to such a person. The story of David’s ascension to the throne of Israel summarises how God make His choices. Prophet Samuel beheld the firstborn of Jesse named Eliab and, looking at his outward qualities, concluded “here comes the Lord’s anointed king who will govern over Israel.” But just before that thought could settle in the prophet’s mind, God told him that is not the man for the job. The story of Zacch Adedeji, executive chairman of the Federal Inland Revenue Service (FIRS) is the story of a young, wise and brilliant man who has enjoyed exceptional grace of God. His father (of blessed memory) was a cocoa farmer from the mainly agrarian Iwo Ate town, in Ogo Oluwa Local Government Area of Oyo State. His mother is a trader-cum-farmer. It was thanks to Chief Obafemi Awolowo’s matchless leadership and quality governance that the town at that time boasted some basic municipal amenities like school and a dispensary. I can imagine the joy on his father’s face when the news was broken to him that his wife was delivered of a bouncing bonny baby boy later christened Zacchaeus Adelabu Adedeji. While his father desired functional education for Zacch, the first child of the family, the greater joy for the cocoa farmer would be that the birth of Baby Zacch means an extra hand on the farm, heir apparent to the cocoa farming business. This perception perhaps prevented Zacch’s father from noticing the unique stars in the sky that heralded the arrival of a special child to the family, the humble background notwithstanding. The family did not realise they have been gifted a global talent whose brilliance and expertise will be acknowledged beyond the shores of Nigeria. While his father was looking at a child who will grow to become a helping hand on the farms, God was looking at a precious gift that will bring honour to the family name. Growing up for Zacch was not easy as there was no silver spoon in his mouth at birth. But with the grace of God upon his life, he was determined never to allow the circumstance of his birth dictate how far he could go in life. While going to school, he was also assisting his father in his cocoa farming. Zacch could not have chosen any other course in his post-secondary educational pursuit other than accountancy. He was his father’s book-keeper for the sale of cocoa produce. At the Federal Polytechnic in Ede, Osun State, where he studied Accountancy for his Ordinary National Diploma, Zacch came out flying with a distinction. Rather than return for his HND, he opted to further his studies at the prestigious Obafemi Awolowo University, Ile Ife, where he read management and accounting and finished with First Class honours. He did not allow the death of his father at about the time he was starting at Ife to extinguish his hope of having functional university education. Zacch’s special talent as a brilliant accountant quickly singled out from the new recruits at P&G. He saved the company hundreds of millions of dollars in needless expenditure and deploys his financial wizardry to catapult the company’s profit to new heights. For this exceptional display, the company dispatched him to one of the best business schools in Switzerland to share his experience with them. This feat earned him a seat at the management cadre of the American goods company earlier than any young recruit by the firm. He rose to become the Corporate Finance Manager for West Africa. It was while making his mark at the firm that he met a great leader, Senator Abiola Ajimobi (of blessed memory), sometime in 2009. He was just attending to what he would ordinarily consider a routine payment query when they met. Ajimobi was happy to meet a young chap from Oyo State making waves at such a company. From that time, a journey of mentoring, love and support that would remain with Zacch for a lifetime started. It was a meeting that also changed his trajectory from the private sector to the public sector. Ajimobi appointed him Finance Commissioner for Oyo State at age 33. Notable among his achievements include: raising Internally Generated Revenue (IGR) from about N600m monthly to about N2bn in a short period, blocking leakages by streamlining government bank accounts through which a lot of money was haemorrhaged from about 100 to about 10. As executive secretary of the National Sugar Development Council, Zacch left an indelible mark, raising standards and re-engineering processes to deliver better quality service and increased productivity. When tapped as Special Adviser on Revenue by President Bola Tinubu, a lot of people speculated he would ultimately head the country’s tax agency, Federal Inland Revenue Service (FIRS). As an evangelist in the Anglican Communion, Zacch believes in the scripture that the power of life and death is the tongue. As the one whose duty it was to interface with FIRS tax officers while at P&G, he had said during one of his frequent visits to the Agidingbi office of the agency that “someday, I would like to work in this organisation and contribute to its transformation.” Today, not only is Zacch the executive chairman of FIRS, he has brought unprecedented transformation to the agency within a short period. FIRS, under Zacch, surpassed tax revenue target in 2023, leading to a higher revenue benchmark of N19.4 trillion set by government for 2024. Later this month, Adedeji will announce to Nigerians what the agency was able to collect in the year just ended. The agency has done well again and has exceeded the target from available information. To all who know Zacch and have had interactions with him, one special attribute stands him out: his humility. He relates with the young and the old quite well and the big success that God has given him does not get into his head. Many people have spoken so glowingly about this character trait in Zacch. In 2017, he and I returned to Nigeria from a trip to the US. He had gone on holiday and I had gone to cover the annual meetings of the World Bank/IMF. We were to lodge at a popular hotel in Ikeja on arrival. After dinner, the receptionist said only one room was left. “Give it to us. Dare and I will share it,” said Zacch. That was how we slept on the same bed that night. If there are so many positive things to say about Zacch who is 47 years today, then the future holds even a brighter future for the number one tax man in the country today. Our boss believes in Simon Sinek’s submission that leadership is not just about being in charge, but also about taking care of those in your charge. I join admirers and well-wishers to wish ZA many more happy years of his trademark brilliance and wisdom. May God continue to strengthen him in good health. .Adekanmbi is the Special Adviser on Media to the chairman, FIRS, Zacch Adedeji.

Breaking: FIRS sues Binance for $79.51b over alleged economic losses on behalf of FG

The Federal Government of Nigeria has filed a lawsuit against cryptocurrency exchange company Binance Holdings Limited, demanding $79.51 billion and ₦231 million in compensation for alleged economic losses caused by its operations in the country.

The lawsuit, filed by the Federal Inland Revenue Service (FIRS) at the Federal High Court in Abuja, also seeks an additional $2.001 billion in unpaid income taxes for 2022 and 2023.

The case, marked FHC/ABJ/CS/1444/2024, accuses Binance and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, of failing to register with the FIRS for tax compliance and allegedly violating Nigerian financial regulations.

This lawsuit marks the third legal action against Binance in Nigeria. The FIRS and the Economic and Financial Crimes Commission (EFCC) have already charged the company with tax evasion, money laundering, and foreign exchange violations before Justice Emeka Nwite of the Federal High Court in Abuja.

 

Among the financial penalties in the lawsuit are a 10% penalty for non-payment of taxes for 2022 and 2023, a 26.75% annual interest rate, based on the Central Bank of Nigeria (CBN) lending rate and additional penalties for Binance’s failure to register its business activities in Nigeria.

The Nigerian government further alleged that Binance has been operating in the country for over six years without proper registration, violating multiple financial laws.

 

According to an affidavit by Jimada Yusuf, a member of the Special Investigation Team from the Office of the National Security Adviser (NSA), Binance executives admitted to having 386,256 active Nigerian users, a trading volume of $21.6 billion in 2023 and net revenue of $35.4 million from Nigerian transactions.

The NSA claims that Binance refused to provide detailed business records spanning six years, despite a Federal High Court order directing them to disclose the data to the FIRS via the EFCC.

In the lawsuit, the FIRS is seeking a declaration that Binance must pay annual corporate income tax for its operations in Nigeria, a court order compelling Binance and its executives to file income tax returns for 2022 and 2023 and an order for Binance to pay $2.001 billion in taxes.

Also included are penalties, including 10% annual interest and a 26.75% CBN lending rate, until all taxes are paid and a total of $79.51 billion and ₦231 million in compensation for economic damages.

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Nigeria’s Captured State: How MultiChoice Weaponized Laws to Protect Its Empire

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Nigeria’s Captured State: How MultiChoice Weaponized Laws to Protect Its Empire

THE CAPTURED BENCH: HOW MULTICHOICE AND ITS ELITE LAWYERS WEAPONIZED NIGERIA’S COURTS TO CRIPPLE DEMOCRACY, DEFY REGULATIONS AND EXPLOIT THE NATION

Price hikes and silenced watchdogs

In March 2025, Nigerians woke up to find that DStv and GOtv subscription prices had shot up by 20-25%. The Federal Competition and Consumer Protection Commission (FCCPC) immediately announced plans to investigate. Consumer advocacy groups were hopeful. Finally, someone would check whether Multichoice was abusing its market power, But once again, the courts stepped in. Multichoice’s lawyers, led by Moyosore Onibanjo, rushed to file an ex parte motion, claiming the FCCPC had no right to regulate pricing in a “free market.” Justice Omotosho issued an order that stopped the FCCPC from even looking into the matter. No debate. No hearing. Just a swift injunction.

For many Nigerians, this was the final straw. Complaints poured in on social media: “Why can’t our regulators do anything?” and “Is DStv above the law?” People couldn’t help noticing that every time an agency tried to act, a new court order appeared.

Corporate Leviathan

In Nigeria’s rapidly evolving media landscape, Multichoice Nigeria Limited, operators of DStv and GOtv, has long positioned itself as a market leader. However, recent revelations from the National Security Advisor’s office paint a starkly different picture: one of a corporate giant systematically deploying legal warfare to evade accountability, undermine regulatory bodies, and render agencies like the National Broadcasting Commission (NBC), the Federal Competition and Consumer Protection Commission (FCCPC) and the Economic and Financial Crimes Commission (EFCC) powerless. Over the past decade, Multichoice has weaponized Nigeria’s judicial system, securing a litany of court orders to stall investigations, invalidate regulations, and shield itself from sanctions. This report unravels the company’s calculated strategy to transform regulators and security agencies into “toothless bulldogs,” highlighting key cases, complicit judicial actors, and the broader implications for Nigeria’s regulatory framework.

In Nigeria, where media freedom once thrived, Multichoice Nigeria (owners of DStv and GOtv) have used legal tricks to dodge regulators and crush competition. What started as a success story turned into a corporate takeover of Nigeria’s broadcast industry. Multichoice’s legal team weaponized court technicalities to weaken government agencies, turning oversight into a joke.

The 2021 Default Judgment Debacle (FHC/ABJ/CS/1386/2021) Incorporated Trustees of Media Rights Vs. NBC
It was a brisk morning in Abuja when news of Justice James Omotosho’s decision sent shockwaves through Nigeria’s broadcasting circles. In a case that had once promised to empower the National Broadcasting Commission (NBC), the judge instead dealt a stunning blow to the commission’s authority—one that many believe would change the fate of broadcast regulation in the country.

The Incorporated Trustees of Media Rights took the NBC to court. They contended that the commission’s sanctions were not only heavy-handed but also a violation of natural justice. Justice Omotosho had already handed down a sweeping judgment—a permanent injunction that barred the NBC from levying any fines on broadcast stations.

In a bid to overturn the ruling, the NBC filed a motion that the earlier judgment was reached without due process. The NBC had sought to sanction Multichoice for breaching broadcast codes. Justice Omotosho dismissed their plea, and critics argue this set a dangerous precedent: regulators could now be punished for procedural oversights while corporations enjoyed judicial leniency.

This case set a precedent for regulators’ procedural missteps being exploited to entrench corporate impunity. By framing the NBC as negligent, Multichoice and allied entities secured judicial cover to bypass accountability. The significance of the ruling in this case, is to the effect that a regulator does not have the powers to impose sanctions for a breach of a defined law or regulation, which is an anomaly.

The 2024 AGI Heist (FHC/ABJ/CS/652/2024) Multichoice Nigeria Ltd. & Details Nigeria Ltd. v. NBC)
In a sweeping 2024 judgment, Justice Omotosho again ruled in favor of Multichoice, declaring Section 2(10)(b) of the NBC Code ultra vires for mandating 2.5% of broadcasters’ gross income as Annual Gross Income (AGI). The court redefined “annual income” as revenue minus production costs, slashing Multichoice’s liability. It also upheld a disputed 2020 waiver agreement, binding the NBC to accept fixed payments far below statutory rates. The ruling not only invalidated critical NBC regulations but also rewarded Multichoice for years of underpayment, costing the federal government an estimated N32.5 billion in lost revenue. The pattern again was to invoke functus officio to block regulatory appeals and framing Multichoice as the “vigilant” victim against “indolent” agencies.

The Price Hike That Sparked a Legal Firestorm

FCCPC vs. MultiChoice: A Legal Battle Over Price Hike
On March 1, 2025, MultiChoice raised DStv and GOtv subscription fees by 20-25%, citing rising costs. The move, barely a year after the last increase, triggered public outrage, with many accusing the company of exploiting its market dominance.

However, the Federal Competition and Consumer Protection Commission (FCCPC) had summoned MultiChoice and its CEO on February 27, to appear for an investigative hearing to explain its decision to increase rates starting on March 1. The commission expressed concerns about frequent price hikes, potential abuse of market leadership, and anti-competitive practices. However, instead of complying, MultiChoice filed an ex parte motion at the Federal High Court in Abuja on March 3, seeking to block FCCPC’s intervention.

On March 12, Justice James Omotosho known for his pro-corporate rulings, granted Multichoice’s request. In his decision, he restrained the FCCPC from taking any “administrative steps” against the company pending the determination of the case. The ruling effectively shields Multichoice from regulatory scrutiny, allowing it to proceed with the price hike while the FCCPC remains powerless to act. Critics have slammed the decision as a blow to consumer rights and a victory for corporate impunity.

The 2025 Ex Parte Order: EFCC and NBC Gagged
In a recent court order granted in March 2025 and filed under Suit No: FHC/L/CS/179/25 (Multichoice & Details Nigeria Vs. EFCC, NBC & Anor) reveals Multichoice’s desperation to avoid scrutiny. The EFCC had launched an investigation into the company’s alleged underpayment of Annual Gross Income (AGI) and refusal to submit financial records dating back to 2014. Instead of complying, Multichoice accused the EFCC and NBC of “harassment” and violating its “fundamental rights.”

Justice Omotosho, without hearing the regulators’ side, issued a sweeping injunction:
a. Blocked Arrests: Barred the EFCC from inviting or detaining Multichoice staff.
b. Froze Investigations: Halted demands for financial documents, including evidence of AGI remittances.

The ruling effectively halts Nigeria’s anti-graft agency from probing (a) ₦32.5 billion in unpaid levies (as established in the 2024 AGI case) and alleged tax evasion tied to creative accounting of “programming costs.”

The Legal Playbook: How Courts Became Corporate Tools
Multichoice’s tactics follow a ruthless blueprint:

1. Forum Shopping: Multichoice repeatedly filed cases in the Abuja Division of the Federal High Court, where judges like Omotosho became reliable allies. Legal experts accuse the company of “judicial engineering”—handpicking courts to secure favourable rulings that redefine regulatory authority.

2. Killing Competition: When the NBC amended its code in 2022 to break Multichoice’s stranglehold on exclusive content (like Premier League rights), the company sued. Justice A. Lewis-Allagoa sided with Multichoice, declaring that “private contracts trump over public interest.” The decision cemented Multichoice’s monopoly, leaving smaller rivals unable to compete.

3. Redefining the Rules: In 2024, Multichoice challenged the NBC’s Annual Gross Income (AGI), arguing that its 2.5% fee should apply to profits, not gross revenue. Justice Omotosho agreed, slashing Multichoice’s contributions by billions of naira. The ruling starved the NBC of funds meant to support local broadcasters, widening the gap between corporate giants and struggling independents.

4. Pre-emptive Strikes: At the first hint of regulatory action, Multichoice files lawsuits to paralyze investigations. In 2025, when the Federal Competition and Consumer
5. Protection Commission (FCCPC) probed sudden price hikes for DStv subscriptions, Multichoice secured an exparte order from Justice Omotosho—blocking the inquiry before regulators could present their case. Critics called it a “judicial coup.”

Consequently, Nigeria’s judiciary stands accused of enabling corporate impunity. Justice
James Kolawole Omotosho of the Federal High Court, Abuja, emerges as the central figure in Multichoice’s legal fortress. Between 2021 and 2025, he presided over at least seven high stakes cases involving the company, each time ruling in its favour with near-scripted consistency.

The Fallout: Toothless Bulldogs and a Captured State
The cumulative effect of these rulings is a regulatory landscape where:
* NBC is financially crippled, unable to collect lawful levies or enforce content rules.
* FCCPC is barred from investigating blatant consumer exploitation.
* Judicial Complicity: Courts prioritize corporate rights over public interest, with certain judges becoming repeat enablers.

The lawyers behind the scenes
Behind all of Multichoice’s courtroom triumphs are two powerful Senior Advocates of Nigeria (SANs): M.J. Onigbanjo and Moyosore Onibanjo. Their tactics are legendary among legal circles in Abuja.

a. Onigbanjo the Codebreaker: Known for pre-emptive strikes, he files lawsuits against regulators just before they finalize audits or announce sanctions. By flipping the script, he forces agencies to defend themselves rather than go on the offensive.
b. Onibanjo the Ex Parte Maestro: Skilled at obtaining secretive court orders, he convinces judges that immediate action is needed—often without the regulators being present. Critics have called this “judicial malpractice.”

Their Playbook:
1. Judicial Engineering: Handpick courts and judges.
2. Weaponize Rights: Frame investigations as “rights violations.”
3. Delay Tactics: Adjourn cases for years (e.g., the EFCC suit is stalled until May 2025).

The Global Playbook – How Multichoice Replicated Its Nigerian Model and the Pushback
While Nigeria’s anti-graft agencies and courts remain paralyzed by legal maneuvers favouring Multichoice Nigeria, other African nations are mounting fierce resistance against the South African media giant’s monopolistic tactics. From Malawi’s bold expulsion of the company to South Africa’s billion-dollar fines, a pattern of defiance is emerging across the continent—one that starkly contrasts with Nigeria’s capitulation to corporate impunity.

Malawi’s Stand: “Follow the Rules or Leave”
In August 2023, Malawi became a beacon of regulatory courage. When Multichoice attempted to hike DStv subscription prices without approval, the Malawi Communications Regulatory Authority (MACRA) secured a court injunction to block the increase. Multichoice retaliated by halting new subscriptions and threatening to exit the country. “We don’t negotiate with bullies,” declared MACRA Director General Daud Suleman. By September 2023, Multichoice withdrew entirely, abandoning 200,000 subscribers. “Malawi’s laws protect its people, not foreign profits,” Suleman added.

Sierra Leone: Slapped with a “Profiteering” Fine
Sierra Leone’s National Telecommunication Commission (NATCOM) took a similarly hardline stance in 2023, fining Multichoice R968,000 (Le250 million) for “unfairly profiteering” after the company blamed currency fluctuations for price hikes. NATCOM Chair Momoh Conteh accused Multichoice of “exploiting our people under the guise of exchange rates.” The regulator threatened to shut down DStv operations unless the fine was paid within a week—a move hailed by consumer groups.

Kenya’s Football Revolution: Breaking the Monopoly
In 2017, Kenya’s Competition Authority (CAK) ordered Multichoice to share exclusive English Premier League rights with rivals like Zuku TV, declaring the company’s monopoly “anticompetitive and destructive.” After a two-year legal battle, CAK Director Wang’ombe Kariuki announced: “No single entity can hoard content that belongs to the people.” The ruling opened Kenya’s airwaves to fair competition, a model now praised across East Africa.

South Africa’s $3.7 Billion Reckoning
In its home country, Multichoice faced its toughest blow yet. In 2017, South Africa’s
Competition Commission found the company guilty of anti-competitive practices, including hoarding sports rights to crush rivals. The penalty? A staggering 10% of annual revenue—$3.7 billion.

“No corporation is above the law here,” said Commissioner Tembinkosi Bonakele. By 2022, the South African Revenue Service (SARS) had clawed back another $500 million from Multichoice after uncovering years of profit under-declarations.

Nigeria: The Captured Market

While its neighbours fight back, Nigeria remains a glaring exception. In 2023, the Federal Inland Revenue Service (FIRS) settled a N1.8tn ($1.27bn) tax claim for the Multichoice Nigeria operation and a $342m claim for value-added tax dispute with Multichoice for just N35.4bn ($37.3m) —a colossal and unjustified discount.

Breaking the stranglehold

In hushed conversations across government offices and civil society groups, there’s a growing belief that Nigeria must reclaim its regulatory powers—or risk sinking deeper into a state of corporate capture. Some propose that the National Judicial Council (NJC) investigate the repeated pattern of rulings in Multichoice’s favor. Others call for a new Broadcast Industry Reform Act that would strengthen the NBC’s authority. Also, the National Security Adviser must probe the question whether judges collude with Multichoice’s legal team and whether there is economic sabotage whereby preemptive lawsuits have been used to stifle Nigeria’s broadcast sector regarding the Multichoice’s ₦32.5 billion levy evasion.

Nigerians are frustrated by skyrocketing subscription fees and a sense of helplessness. Yet without coordinated action from the courts, lawmakers, and the executive branch, these calls for justice may remain just that—calls.

For now, Multichoice continues to operate in Nigeria with near-impunity, while the rest of the continent moves toward stricter enforcement. The central question remains: “Will Nigeria’s institutions stand up for the public interest, or will the nation remain a haven for corporate giants who know how to work the system”?

Until something changes, the courts will keep issuing orders, regulators will keep hitting walls, and ordinary Nigerians will keep wondering why the rules seem to favour the powerful over the people. The stage is set for a showdown—one that could either reaffirm Nigeria’s commitment to fair governance or cement its status as a captured state under the gavel of judges and unconscionable practices of members of the Bar.

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Benin Republic, Togo Owe Nigeria $8.84M for Electricity, Payment Defaults Spark Concern

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Benin Republic, Togo Owe Nigeria $8.84M for Electricity, Payment Defaults Spark Concern

Benin Republic, Togo Owe Nigeria $8.84M for Electricity, Payment Defaults Spark Concern

Nigeria’s power supply to neighboring countries has once again stirred controversy as Benin Republic and Togo have amassed a debt of $8.84 million for electricity consumed in the fourth quarter of 2024, according to a report by the Nigerian Electricity Regulatory Commission (NERC).

The report, which details remittance performance by both domestic and international customers, reveals a troubling trend—Nigeria’s electricity market is facing low payment compliance from its international consumers, raising questions about the financial sustainability of its cross-border power supply.

Nigeria’s Struggle to Recoup Power Debts

According to NERC, the six international bilateral customers supplied by Nigeria’s power-generating companies (Gencos) were billed a total of $14.05 million in Q4 2024. However, they only managed to pay a meager $5.21 million, translating to a remittance performance of just 37.08%—a figure that underscores a persistent issue of payment default by international customers.

Among the top defaulters:

  • Paras-SBEE (Benin Republic) was billed $2.65 million but failed to make any payment.

  • Paras-CEET (Benin Republic) was invoiced $1.64 million but has not remitted a dime.

  • Odukpani-CEET (Togo) owes a staggering $2.37 million.

  • Transcorp-SBEE (Ughelli, Benin) paid only $1.71 million out of its $3.59 million invoice.

  • Transcorp-SBEE (Afam 3) settled just $0.90 million out of its $1.2 million bill.

The only international customer to fully pay its dues was Mainstream-NIGELEC, which settled its $2.60 million invoice in full—a sharp contrast to other defaulters, particularly Benin Republic and Togo.

Payment Defaults Extend Beyond International Borders

Nigeria’s domestic bilateral customers also showed a lackluster remittance performance, paying just ₦1.25 million out of the ₦1.98 million billed, a 63.36% remittance rate.

Additionally, special customers such as Ajaokuta Steel Co. Ltd and its host community failed to pay a single naira for their ₦1.27 billion (NBET) and ₦0.11 billion (MO) invoices. The NERC highlighted that this non-payment trend has persisted for years, urging the Federal Government of Nigeria (FGN) to intervene.

Is Nigeria’s Electricity Market Being Exploited?

The ongoing payment shortfalls from international customers have sparked debates about whether Nigeria should continue supplying power to countries that fail to meet their financial obligations. Critics argue that while Nigeria faces its own power shortages, it continues to supply electricity to Benin and Togo, who in turn fail to make full payments, thereby straining Nigeria’s electricity sector.

Despite Challenges, Nigeria’s DisCos See Revenue Growth

On the domestic front, Nigeria’s electricity distribution companies (DisCos) recorded a significant revenue generation of ₦509.84 billion in Q4 2024. This represents 77.44% collection efficiency—an improvement from 74.55% in Q3 2024.

While this signals better revenue collection within Nigeria, the lingering issue of international payment defaults remains a thorn in the side of the electricity market.

What’s Next?

With Nigeria’s international electricity consumers repeatedly defaulting on payments, energy sector analysts suggest that NERC must impose stricter payment conditions, reconsider supply agreements, or enforce sanctions against defaulters.

The big question remains: Will Nigeria continue to supply electricity to Benin and Togo despite their growing debts, or will stricter measures be put in place?

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ADVANS TRADING CONSULT EMPOWERS NIGERIAN YOUTH AND STUDENTS THROUGH FOREX TRADING EDUCATION

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ADVANS TRADING CONSULT EMPOWERS NIGERIAN YOUTH AND STUDENTS THROUGH FOREX TRADING EDUCATION

ADVANS TRADING CONSULT EMPOWERS NIGERIAN YOUTH AND STUDENTS THROUGH FOREX TRADING EDUCATION

In a bid to demystify Forex trading and empower Nigerian youth and students with financial knowledge, Advans Trading Consult, under the leadership of its CEO, Mr. Akano Samuel, has successfully concluded the FOREX TRADING CLASS 1.0 training program.

The intensive three-day event, which took place from March 20 to March 22, 2025, at Federal Cooperative College, Eleyele, Ibadan, Oyo State, provided participants with in-depth insights into the opportunities within the Forex market.

Recognizing the widespread misconceptions that have discouraged many Nigerians from embracing Forex trading, the National Youth and Students Enterprise Group (NASEG), in collaboration with Advans Trading Consult, launched this initiative to educate and equip young people with the right skills to navigate the market effectively.

Speaking at the closing session, Olalere Benedict Adetunji, National President of NASEG, emphasized the need for financial literacy among youth, stating:

“Financial freedom does not answer to mere wishes or prayers but to knowledge, diligence, and strategic investments. For too long, Forex trading has been misrepresented, preventing many from leveraging its wealth-building potential. Through this training, we are changing that narrative and ensuring that Nigerian youth have access to legitimate opportunities for financial independence.”

Special appreciation was extended to Mr. Akano Samuel, CEO of Advans Trading Consult, for his unwavering commitment to empowering the next generation of traders. His dedication, expertise, and resources have played a crucial role in making this training a success.

The program witnessed active participation from youth and students eager to harness the potential of Forex trading. With this success, plans are already underway to expand the training to other states, ensuring that more young Nigerians can benefit from this initiative.

NASEG and Advans Trading Consult remain committed to equipping Nigerian youth with the tools they need for financial breakthrough. The journey has just begun, and we will not relent until young Nigerians fully harness the power of Forex trading for economic empowerment.

Olalere Benedict Adetunji
National President, National Youth and Students Enterprise Group (NASEG)
07061830662

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