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TSTV Seeks Court Protection to Prevent Irreparable Business Losses in Nigeria

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The legal team of Telecom Satellites Limited (TStv) has asked the Federal High Court in Abuja to grant its “restraining” requests to prevent the business from suffering irreparable losses in Nigeria, according to Nairametrics.

TSTV Seeks Court Protection to Prevent Irreparable Business Losses in Nigeria

Bright Echefu,

This is detailed in its motion on notice marked FHC/CS/ABJ/665/2022.

The motion seeks protection from alleged further harassment by the Economic and Financial Crimes Commission (EFCC) over what it claims to be an investment issue with Mr. Kabiru Tanimu, former Minister of Special Duties and Inter-Governmental Affairs.

Applicant’s Motion

In the motion, the EFCC, Turaki, Tudu Ventures, and the Attorney General of the Federation are listed as defendants.

According to the applicant’s lawyer, Asiwaju Awomolo (SAN), his client was introduced to the ex-minister for the purpose of investing in and financing the purchase of equipment for its operations.

He submitted that, as part of the investment agreement, the ex-minister was allotted 50% of TSTV shares in his personal capacity.

He stated that Turaki was also appointed Chairman of the Board of Trustees, while his children were made directors of TSTV.

He argued that based on the share transaction, it was agreed that the ex-minister should finance a portion of TSTV’s business operations.

The lawyer stated:

“By the agreement of the parties, the 3rd defendant (Turaki) paid for transmission and broadcasting equipment directly to the foreign suppliers.

“The 3rd defendant thereafter facilitated another investment to boost the operations of TSTV (the applicant) through Tudu Ventures.”

The applicant then claimed that, surprisingly, on March 4, 2021, Tudu Ventures sued TSTV at the Federal Capital Territory High Court in Abuja for the recovery of Turaki’s investment.

The lawyer submitted that following the EFCC’s intervention in 2022, its officials have since been harassing, intimidating, and bullying TSTV’s officers, requesting them to produce the investment of the ex-minister and Tudu Ventures.

“If this application is not granted, TSTV and its officials will suffer irreparable loss, and their business may be jeopardized, as the individuals summoned are key officials who run the main activities at TSTV’s headquarters in Abuja and indeed in all its branches across the Federation,” the lawyer stated, asking the court to restrain the EFCC from harassing its business.

According to TSTV, it has commercial and contractual obligations to millions of viewers worldwide on a 24-hour basis, and the EFCC’s actions could cause a permanent interruption of the applicant’s transmission activities.

Reports said that the pending case would continue when the court returned from its vacation.

More insights

While TSTV’s motion is pending, the EFCC also has a fraud-related case against it and its Managing Director, Bright Echefu, among others, before another court presided by Justice Inyang Ekwo.

Count six of the charges alleges that Echefu defrauded Mr. Tanimu, MD of Kalsiyam Global and also former Minister of Special Duties and Inter-Governmental Affairs, of N380 million.

Other allegations state that the defendants allegedly contravened money laundering laws, including tax evasion, unremitted Value Added Tax (VAT), Company Income Tax, and Pay As You Earn (PAYE) deducted from the salaries of 165 staff members.

Echefu, the MD of Briechberg Investment Ltd, was accused of obtaining N150 million from Mr. Turaki Kabiru Tanimu, SAN, MD of Kalsiyam Farm, with the alleged intent to defraud.

In the matter before Justice Ekwo, TSTV and its MD claim the EFCC is trying to criminalize a civil transaction it had with the ex-minister.

What you should know

TSTV, a satellite TV company launched by Echefu, was expected to challenge the monopolistic tendencies of MultiChoice, owners of DStv and GOtv in Nigeria.

Touted as the first and only fully indigenous Pay-TV operator in the country, TSTV entered the industry on October 1, 2017, with appealing offerings that raised the hopes of many Nigerians. Indeed, its decision to launch on the country’s Independence Day was seen as symbolic of a declaration of ‘freedom’ in the Pay-TV industry. However, the company disappeared after the launch.

It made a comeback on October 1, 2020, promising to offer Nigerians the best Pay-TV experience. However, its service remained intermittent, leaving subscribers who had invested in the company’s decoders with constant complaints.

TSTV completely went off the radar again in March last year and has remained so to date without any explanation to the subscribers, aside from intermittent apologies for ‘technical glitches’ during its active days.

The cases before both courts are now within their purview to determine one way or another.

Credit: Nairametrics

 


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Big Larry, Nollywood Actor is Dead

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Big Larry, a popular Nollywood actor has been pronounced dead on Friday by Stanley Ontop, film producer

Big Larry, Nollywood Actor is Dead

Big Larry

Details’ surrounding his sudden demise is yet to be known.

Big Larry’s death comes just a few weeks after the passing of another Nollywood actress, Sharon Okpamen, who died following childbirth.

Stanley Ontop his on Instagram  wrote: “Breaking News: Nollywood actor Big Lary just passed away. Je nke Oma big. What caused his demise is yet to be ascertained. May your soul rest in peace Big Lary. Nollywood Asaba Mourns. Shalom!!!”

Fans and admirers of the late actor have flocked to the post’s comment section to pay tribute to him.

 

 

 

 


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CADEF Promotes Financial Inclusion for Persons with Disabilities @One-day Workshop

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Consumer Advocacy & Empowerment Foundation (CADEF) hosted a one-day workshop on “Improving Access and Inclusion for Persons with Disabilities (PWDs) in Digital Financing” in Lagos.

L-R: Bunmi Adebiyi, Senior Manger, Development Finance Office, CBN; Chinonso Umeh, Head, Retail Services ,Zenith Bank; Lukeman Salami, representative of Association for the Blind; Chiso Ndukwe-Okafor, Executive Director, CADEF; Adeola Aina, Vice-chairman, Association for the Blind and Lovelyn Okafor, Director of Programmes and Communications, CADEF at workshop on Improving Access and Inclusion for PWDs in Digital Financing in Lagos, recently.

The event brought together government officials, financial institutions, disability organizations, and experts to discuss strategies for enhancing financial inclusion for people with disabilities.

Speaking at the workshop, Safiu Babatunde, Head of Legal Services at the Lagos State Office for Disability Affairs, emphasized the importance of financial inclusion for people with disabilities.

He highlighted the challenges faced by individuals with disabilities in accessing traditional and digital financial services and called for innovative solutions to address these barriers.

“Disability related obstacles affect the participation of individuals at every stage of developmental interventions intended to boost livelihoods of people,” Babatunde said.

“Key among the resources essential for enhancing the livelihood of individuals is having access to financial resources for undertaking economic activities.”

He continued, “Unfortunately over the years, traditional banks do not seem to have served people with disability related obstacles.

“Persons with disability have limited access to financial services, including traditional and alternative banking, online payment services, and financial transactions as well as mobile banking applications.”

Babatunde emphasized the need for public-private partnerships to promote financial inclusion for people with disabilities.

“This partnership can bring together government agencies, financial institutions, and disability organizations to collaborate on developing and implementing initiatives that promote financial inclusion for these concerned populations,” he said.

Professor Chiso Ndukwe-Okafor, Executive Director of CADEF, underscored the organization’s commitment to advocating for the rights of marginalized groups.

She emphasized the need for inclusive financial products and services that cater to the specific needs of people with disabilities.

“CADEF has been empowering individuals with financial literacy, including those with disabilities.

“Our goal is to create inclusive financial systems that meet the needs of all Nigerians”, she said.

The Lagos State Office for Disability Affairs, LASODA, also called for increased public-private collaboration to address the financial barriers faced by PWDs.

General Manager of LASODA, Adenike Oyetunde-Lawal, emphasized the need for tailored financial products and accessible services.

Oyetunde-Lawal, who was represented by Mr. Safiu Babatunde, Head of the Legal Department, urged the banking sector to be more responsive to the needs of PWDs.

Participants discussed the challenges faced by people with disabilities in accessing financial services, such as limited awareness of available products, inaccessible ATMs and branches, and discriminatory practices.

They also explored potential solutions, including the development of accessible mobile banking applications, financial education programs in sign language and Braille, and partnerships with disability organizations.

At the conclusion of the workshop, participants agreed on the need for concerted efforts to improve financial inclusion for people with disabilities.

They pledged to work together to develop and implement practical solutions that will empower individuals with disabilities to participate fully in the financial sector.


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NIPR Appoints Rasheed Bolarinwa As Chairman of FinanceHub Committee

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Nigerian Institute of Public Relation’s (NIPR) governing council has announced the appointment of Rasheed Bolarinwa as the Chairman of its newly established FinanceHub Committee.

Rasheed Bolarinwa

Bolarinwa, who serves as the President of the Association of Communication and Marketing Professionals in Banks (ACAMB), will lead the committee aimed at enhancing sustainable Public Relations practices within the banking, insurance, and pensions sectors.

Bolarinwa, currently the Head of Brand Management and Corporate Communication at Polaris Bank, brings extensive experience from journalism, public relations, and the financial sector.

Read Also: NIPR Lagos Chapter Announces Date for 11th conference, sets to discuss climate change, environment

His leadership is expected to drive significant improvements in PR practices across these financial sectors.

The FinanceHub Committee, which includes experts from banking, insurance, and pensions, is part of NIPR’s broader initiative to strengthen public relations across various sectors.

The committee’s formation aligns with NIPR’s strategy to foster sustainable and impactful PR practices in these critical areas of the economy.

In addition to Bolarinwa, NIPR has appointed other chairpersons for newly created sectoral hubs.

Mrs. Thelma Okoh will lead the Maritime Hub, Dr. Jossy Nkwocha will head the Energy Hub, and Mr. Basil Agboarumi will oversee the Aviation Hub. Dr. Ahmad Sajoh has been appointed to lead the Anti-Corruption and Consumer Protection Hub, while Miss Chimdi Neliaku will head the Young Practitioners Hub.

The appointment letters, signed by Uzoma Onyegbadue, Registrar/Secretary to the NIPR Governing Council, reflect NIPR’s commitment to enhancing public relations practices across these sectors.

NIPR Appoints Rasheed Bolarinwa as Chairman of FinanceHub Committee

At the inauguration of the new chairpersons and committee members, NIPR National President Dr. Ike Neliaku praised the appointees, highlighting their expertise and dedication.

“Your appointments are well-considered and reflect the confidence the NIPR council has in your abilities to advance the objectives of the Hub,” Neliaku stated.

He expressed enthusiasm for collaborating with the new appointees and emphasized the council’s support in driving positive change in public relations practices within their respective sectors.


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