General News
Naira marginally gains on Dollar weakness; FOMC in focus

By Lukman Otunuga
The Naira entered the final full trading week before Christmas on a steady note despite concerns over plateauing global economic growth weighing on risk sentiment.
It is becoming clear that a weakening Dollar remains one of the drivers behind the Naira’s marginal gains on the parallel exchange. With the Dollar seen depreciating ahead of the Fed meeting as investors remain on the side-lines, emerging market currencies such as the Naira have the opportunity to appreciate further.
However, geopolitical risk factors in the form of lingering trade tensions, Brexit-related uncertainty and political risk in France are seen fuelling risk aversion down the road. If Oil prices continue to depreciate and the Dollar ends up rebounding from the risk-off mood, the Naira will most likely be one of the many casualties.
Dollar weakens despite market caution
The Dollar is struggling to find support from market caution ahead of the Federal Reserve policy meeting this afternoon.
With a rate hike in December already heavily priced in, investors will most likely direct their attention towards the policy statement and press conference for clues on rate timings in 2019. It must be kept in mind that dovish comments from Fed officials and soft economic data have clouded the Dollar’s medium- to longer-term outlook. Buying sentiment towards the Dollar is seen diminishing further if the Federal Reserve implements a dovish hike. Although the Dollar Index is trading near 2018 highs, it does feel like bulls are living on borrowed time. A breakdown below 97.00 could trigger a decline back towards 96.50.
Gold shines ahead of Fed meeting
Gold bulls are poised to remain in the driver’s seat as investors struggle to shake off jitters over global economic growth and lingering trade tensions. A softening Dollar boosted appetite for the yellow metal with prices trading marginally above $1,248 as of writing. With the Dollar likely to remain depressed ahead of the Federal Reserve meeting and risk aversion magnetizing investors to safe-haven assets, Gold has the potential to appreciate further in the near term. Technical traders will be closely observing how prices behave above the $1,240 resistance level. If the upside momentum holds, the next key points of interest will be at $1,250.70 and $1,258 – a level that resides just below the 200 Daily Simple Moving Average. In an alternative perspective, repeated weakness below $1,240 will be good news for bears and should encourage a decline back towards $1,228.00.
General News
Court Dismisses FCCPC Case Affirms MultiChoice’s Right to Set Competitive Prices in Free Market
Federal High Court in Abuja has dismissed the case between the Federal Competition and Consumer Protection Commission (FCCPC) and MultiChoice Nigeria Limited, operators of DStv and GOtv, marking a victory for MultiChoice and reinforcing the principles of a free-market economy in Nigeria.
The suit was thrown out by Justice James Omotosho who, in his ruling, addressed the core issues raised.
The judge specifically considered whether the FCCPC had the statutory authority to regulate or fix the prices charged by MultiChoice for its services in Nigeria, whether the FCCPC acted within its powers by issuing orders to MultiChoice to suspend price increases, and whether MultiChoice’s pricing practices amounted to abuse of dominance or unfair practices under the Federal Competition and Consumer Protection Act.
Justice Omotosho held that since Nigeria operates a free-market economy, the FCCPC lacks the power to interfere in the pricing decisions of private companies like MultiChoice.
The judge cited Section 88 of the Federal Competition and Consumer Protection Act, clarifying that only the President of the Federal Republic of Nigeria can regulate prices in a regulated industry and for essential goods.
The services rendered by MultiChoice, the court noted, do not fall into this category, as consumers have alternative choices. Justice Omotosho further ruled that the FCCPC has no business querying how companies fix their prices in a free-market environment.
The court found no evidence that the FCCPC had the statutory authority to regulate or fix prices in the absence of specific presidential approval, and that the relevant laws do not empower the Commission to impose price controls unilaterally.
The court also found that the FCCPC’s orders to MultiChoice to suspend price increases were ultra vires, or beyond its legal powers, and that there was no evidence before the court that MultiChoice’s pricing practices constituted an abuse of dominance or unfair practice as required under the Act.
The judge’s findings on these issues for determination made it clear that the FCCPC’s intervention in MultiChoice’s pricing was not supported by law.
The court’s submission is expected to have significant implications for the regulation of pricing in Nigeria’s pay-TV industry. By upholding the principle of market-driven pricing, the judgment reinforces investor confidence and clarifies the limits of regulatory intervention in a liberalised economy.
Industry observers noted that the ruling underscores the importance of balancing consumer protection with the need to foster a competitive and dynamic market.
General News
FG Launches Virtual Privacy Academy

The Nigerian government has launched the Virtual Privacy Academy, a new digital training platform designed to deepen data protection and privacy policies in the private and public sectors.
Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, unveiled the initiative during the 8th annual conference of the Network of African Data Protection Authorities, which began yesterday in Abuja.
The three-day conference, titled “Balancing Innovation in Africa: Data Protection and Privacy in Emerging Technologies,” drew attendees from over 30 African countries, as well as Europe, Asia, the Middle East, and the United States.
Dr. Tijani emphasised that the academy is part of Nigeria’s strategy to capitalise on the benefits of the digital economy by providing actors with the tools they need to navigate hazardous data governance landscape.
According to Tijani, this project would provide Nigerians with the opportunity to gain practical skills in data protection.
Dr. Vincent Olatunji, National Commissioner of the Nigeria Data Protection Commission, highlighted Nigeria’s recent data governance milestones during his address.
He stated that the Commission had completed over 5,000 compliance assessments, opened 223 investigations, and assisted 12 organisations with rehabilitation.
Dr. Olatunji urged African countries who have yet to pass data protection laws to do so, emphasizing that “strong data protection frameworks are not barriers to innovation, but enablers of a resilient and inclusive digital economy.”
General News
Treepz, Miva Open University Partner for Nationwide Mobility Services

Treepz, Africa’s leading corporate mobility startup, has announced an exclusive partnership with Miva Open University, Nigeria’s premier open university. Under this agreement, Treepz becomes Miva’s official transportation provider, delivering services across key cities, including Lagos, Abuja, Uyo, Port Harcourt, and Jos.

L-R: Sani Chanchangi, Business Development Manager, Treepz; Godwin Okpe, Community & Engagement Manager, Miva Open University; Florence Sulyman-Boboye, Global Vice President of Business Development and People, Treepz; Oluwole Adeniji, Manager, Corporate Services, Miva Open University
As Miva Open University expands its academic and administrative presence across Nigeria, Treepz will provide on-demand access to premium vehicles for staff transportation, guest logistics, special events, and official university functions. With a fleet that includes SUVS, Coaster buses, and luxury vehicles, Treepz ensures that all mobility needs are handled with reliability and professionalism.
“This partnership is a strategic move that helps us stay focused on what we do best—delivering accessible and flexible education,” said Oluwole Adeniji, Admin Operations Manager at Miva University. “With Treepz handling our transportation across the country, we can scale confidently, knowing our staff, guests, and stakeholders are moving safely and efficiently.”
On Treepz’s end, Johnny Enagwolor, Co-Founder and President at Treepz, noted that the partnership comes at a pivotal moment, allowing Miva, a forward-thinking institution, to prioritise its core mission of delivering quality education, while Treepz efficiently manages a wide range of its inter-city mobility needs.
“By providing a tailored transport service, Treepz aims to alleviate the logistical burdens of institutions, ensuring Miva University operate at its best.
“At Treepz, we understand the importance of reliable and efficient transport services in driving organisational success. Our goal is to provide Miva with the most comfortable, safe, and convenient transportation solutions possible,” Johnny added. We are committed to providing high-quality, safe, and reliable transportation solutions that support Miva’s mission and contribute to its ongoing success.
Furthermore, we recall that Treepz commemorated its fifth anniversary on September 16th, 2024. Over the past five years, the startup has made notable progress in addressing the continent’s transportation challenges through innovative, tailored solutions.
Treepz has also established itself as a key player in the African mobility industry, with more than 6 million customers served, consistently expanding its services and strategic partnerships to meet the evolving needs of corporate clients.
Recent partnerships with industry leaders such as Parallex Bank and KingMakers (owners of BetKing) have enabled Treepz to provide efficient transportation solutions to complete millions of employee commutes with their shared transportation service.
These accomplishments highlight Treepz’s growing influence and its commitment to revolutionizing corporate mobility and enhancing transportation experiences across the continent.
For more information about Treepz and its corporate travel services, kindly visit www.treepz.com
- E-Business2 days ago
Firm Finds Leaked Netflix, Roblox and Discord Accounts Registered on Corporate emails
- Telecom2 days ago
Sophos Warns of the Risk of Data Theft as Chinese Cars Flood France
- Telecom2 days ago
How Emerging Technologies Are Reshaping Trade – NITDA DG
- General News2 days ago
Afreximbank to Fund African Energy Bank with $19bn
- Telecom1 day ago
PAFON 2.0: Tizel Cybersecurity Calls for Vigilance over Surge in AI-Powered Fraud
- News2 days ago
Experts Urge Adoption of Digital Tools to Strengthen Nigeria’s Compliance Culture
- E-Business1 day ago
Gov. Mbah Tasks Youths to Embrace Technology as Enugu Tech Festival Opens
- News1 day ago
Power Ministry, NAEC Partner to Unlock Nuclear Energy Potential