Board of Trustees of the Northern Broadcast Media Owners Association (NBMOA) has filed a lawsuit against the broadcast company Arewa 24 Limited and seven other entities, alleging they are operating without proper licenses.

The case, set for hearing before Justice Omotosho at the Federal High Court in the Federal Capital Territory (FCT), lists the National Broadcasting Commission (NBC), the Federal Ministry of Information and National Orientation, the Advertising Regulatory Council of Nigeria (ARCON), the Federal Competition and Consumer Protection Council (FCCPC), MIPAN, MultiChoice, StarTimes, and ADVAN as defendants.

In a statement issued in Abuja, Alhaji (Dr.) Ahmed Tijjani Ramalan, chairman of the NBMOA Board of Trustees, highlighted concerns that the unlicensed operations of the defendants pose a threat to Nigeria’s established legal and competitive media landscape, impacting media owners and audiences nationwide.

Ramalan stated, “Our objective is to ensure a fair, regulated media environment in line with established broadcasting standards, while maintaining a commitment to the rule of law.”

The NBMOA affirmed its commitment to lawful broadcasting standards and noted that it would refrain from further public comments until the legal proceedings are concluded to respect the judicial process.

Stakeholders in Nigeria’s broadcasting industry are closely watching the case, as its outcome could have significant implications for media regulation and licensing across the country

Three radio stations lost their electronic broadcasting equipment worth millions on Saturday night in Aba, Abia state, when they were gutted by fire.

The affected radio stations were Enyimba 94.3 FM, Rose 101.9 FM and Legend 98.3 FM which were all located in the same building located o on the PZ axis of Aba-Owerri Road.

But for the intervention of the officials of the Abia State Fire Service, the fire may have spread to other buildings within the vicinity.

No life was lost in the raging inferno.

According to The Nation, a personnel of the Abia State Fire Service, who pleaded anonymity, called on owners of big factories and companies to procure fire extinguishers and hydrants to help assist manage and attack fire during such incident.

No matter the size of the business/company you run (whether an SME, a startup, or a multinational company), keeping your cash flow running is one of the most critical things you can do.

Unfortunately, sometimes that’s easier said than done!

Statistics show that 80% of MSME businesses in Africa fail within their first five years of operation due to cash flow issues. So, how can you save time and avoid late fees to keep your business running smoothly?  The answer is recurring payments.

Avoid Late Payments With Recurring Payments

Late payments from customers can create cash flow issues and negatively impact your business operations. By implementing recurring payment options for customers, your business can proactively address this challenge and ensure timely and consistent revenue streams.

The benefits are enormous.

Recurring payments enable you to automate billing processes and collect payments on a predetermined schedule, minimising the risk of late or missed payments. It also provides a predictable cash flow.

How Recurring Payments Prevent Costly Delays

Creating invoices and processing payments manually is an inefficient way to run your business. Apart from consuming most of your time, there’s also the risk of costly errors which can negatively affect your business and customer relationships.

As such, utilising an automated process which efficiently saves time, reduces the risk of human errors and increases the efficiency of your payment process should be your obvious preference.

Enhancing Customer Relationships

A crucial benefit of recurring payments is that it also helps to strengthen customer relationships and loyalty. This payment method reduces friction points and reduces the payment burden on customers, so payment is streamlined and seamless. By offering a convenient and flexible payment option, such as recurring payments, you enhance your customer’s overall payment experience and reaffirm your commitment to their satisfaction and convenience. This ultimately helps to foster goodwill, loyalty, and trust with your customers.

Tips for Maximising the Benefits of Recurring Payments

To optimise the impact of recurring payments, here are a few strategies that you should implement.

• Offer tiered pricing

A tiered pricing strategy means you’re providing your customers with different product packages with specific benefits at different price points. This is an effective way to cater to the preferences and budgets of your different customers. This allows them to choose a pricing tier within their budget and a payment plan that’s convenient for them. You can also leverage customer data and analytics to personalise payment options and tailor offerings to individual preferences.

• Introduce proactive management

Taking proactive measures, such as updating customers about the expiry date on their credit card and other potential issues will effectively help avoid errors that can lead to late payment and disturb your cash flow. Proactive actions take away potential issues before they pop up, ensuring that the payment process remains unhindered. Also, ensuring your customer support is proactive in dealing with concerns or questions that customers may have helps to further improve the customer’s trust and confidence.

• Streamline the payment process

Streamline your payment process and make it seamless for customers. Ensure there are minimal steps in the checkout process and that the experience is as seamless as possible.

Conclusion

Forecast revenue and plan your expenditures easily by establishing regular payment cycles with SeerBit’s recurring payments solution.

The best part?

You significantly enhance your financial stability and business resilience.