Broadcasting
NGX Group appoints Temi Popoola as CEO-designate

Nigerian Exchange Group has announced the appointment of Temi Popoola as the Group Managing Director/Chief Executive Officer-designate of the group ahead of the retirement of the current GMD, Oscar Onyema, next year.
According to a statement signed by the Group Company Secretary, Obehi Ikhaghe, on Friday, the appointment takes effect on January 1, 2024.
Also, the Executive Director, Capital Market of the exchange, Jude Chiemeka, has been appointed Acting CEO of Nigerian Exchange Limited.
The statement partly read, “Further to the receipt of the Securities and Exchange Commission’s No-Objection to the announcement of the appointment, Nigerian Exchange Group Plc is pleased to announce the appointment of Mr. Temi Popoola as GMD/CEO designate effective 1 January 2024 subject to SEC’s formal approval of the appointment.
“Mr. Jude Chiemeka has also been appointed as the Acting Chief Executive Officer of Nigerian Exchange Limited effective 1 January 2024.”
It was revealed that Onyema, will complete his tenure on March 31, 2024, and ahead of this, he will embark on his terminal leave on January 1, 2024.
Commenting on the appointments, the Chairman of NGX Group, Umaru Kwairanga, said “I’m delighted to announce these pivotal changes in the leadership of NGX Group which is a testament to effective succession planning. I would like to express my profound gratitude to Mr. Onyema for his stellar leadership first as the CEO of The Nigerian Stock Exchange from 2011 – 2021 and thereafter as the GMD/CEO of NGX Group Plc from 2021 -2024.
“Mr. Onyema led the stabilisation, growth, demutualisation and restructuring of The Nigerian Stock Exchange to NGX Group Plc, a public company limited by shares, which is a significant milestone in the organisation’s history. He also led the listing of the Company on the main board of NGX.
“I have no doubt in Mr. Popoola’s capability to successfully continue the legacy Mr. Onyema has created, and take NGX Group to greater heights. I also firmly believe in Mr. Chiemeka’s ability to seamlessly assume leadership at NGX from Mr. Popoola, building upon his impressive achievements and fostering continued growth in the capital market.”
The GMD/CEO, Oscar Onyema, in his comments, said, “I’m deeply appreciative of the privilege to have led The Nigerian Stock Exchange as its CEO and later, Nigerian Exchange Group Plc as its GMD/CEO. I extend my best wishes to Mr. Popoola and have full confidence in his capabilities to continue the legacy and growth of NGX Group. I am grateful for the support and dedication of the entire team at NGX Group and capital market stakeholders throughout my tenure. Together, we drove significant development in the African capital markets, and I am proud of the various accomplishments we have achieved since 2011.
“As I step into a new phase, I am committed to ensuring a smooth transition and look forward to witnessing the continued growth and prosperity of NGX Group under Mr. Popoola’s leadership. The future is indeed promising.”
On his part, Popoola said, “I step into this new role at NGX Group Plc with a deep sense of responsibility and enthusiasm. I extend my appreciation to Mr. Onyema, for his exceptional leadership during his tenure and to the Board of Directors for the confidence reposed in me.
“The modernisation of the Nigerian market infrastructure space and the demutualisation and restructuring of NSE under Mr. Onyema’s guidance have been instrumental in shaping NGX Group, and I’m honored to continue this legacy. I am fully committed to building on the foundation laid out and taking NGX Group to greater heights. With the support of the dedicated team and in collaboration with the esteemed leadership, I’m optimistic about the exciting opportunities and challenges that lie ahead.
“I am also very confident in Mr. Chiemeka’s ability to successfully steer the helm of affairs at NGX and propel NGX to greater heights.”
According to the profile of the CEO-designate who is currently the CEO, NGX and a member of NGX Group Executive Committee chaired by Onyema, began his career in London as a portfolio manager focused on African energy markets and worked for several years as a senior equity derivatives trader with Bank of America Securities in New York, where he drove firm profitability by providing derivative solutions to US corporations and family offices.
Popoola joined NGX in 2021 as CEO of Renaissance Capital (Rencap) where he was the Managing Director and CEO for West Africa.
He graduated with a first-class degree in Chemical Engineering from the University of Lagos and holds a Masters degree from Massachusetts Institute of Technology. He is a Chartered Financial Analyst and a Chartered Stockbroker.
Also, Chiemeka who is currently the Executive Director of Capital Markets responsible for Trading, Products Development and Listings at NGX, has almost 30 years experience in Securities Trading and Asset Management across markets in Africa.
Before joining NGX, he was the MD/CEO of United Capital Securities, a subsidiary of United Capital Plc listed on NGX.
He is a Fellow and Council Member of the Chartered Institute of Stockbrokers, a Member of the Institute of Directors, a Fellow of the Association of Investment Advisers and Portfolio Managers and an Associate of the Certified Pension Institute of Nigeria. He is also an alumnus of the University of Lagos, Lagos Business School and the University of Oxford, UK.
Broadcasting
NCC Warns DJs: Playing Music Without License Could Lead to 5-Year Jail Term

Nigerian Copyright Commission (NCC) has warned disc jockeys (DJs) against publicly playing music without proper authorization or a valid license.
NAN reports that John Asein, NCC director-general, gave the warning in an advisory issued in Abuja.
He said the commission’s attention had been drawn to the growing practice of DJs playing music in public spaces without obtaining copyright licences from their approved collective management organisations (CMOs).
Asein said under sections 9 and 12 of the Copyright Act, 2022, only the owner of copyright in a musical work or sound recording has the exclusive right to reproduce, perform, or communicate it to the public.
The NCC threatened to prosecute defaulters in a case that could lead to a N1 million fine or a 5-year jail term upon conviction.
“Engaging in any of these acts without the owner’s authorisation constitutes an infringement under the Act,” he said.
“Such infringement may constitute a civil wrong or a criminal offence under section 44 (7), punishable upon conviction by a fine of not less than N1 million or imprisonment for a term of not less than five years or to both.”
Asein advised DJs to obtain the necessary licences and pay royalties to the approved CMO before performing music publicly.
The NCC director-general added that the commission will arrest and prosecute anyone found violating the law.
“For the avoidance of doubt, the approved CMO for musical works and sound recordings in Nigeria is the Musical Copyright Society, Nigeria (MCSN),” he said.
“The Commission is aware that the Disc Jockey’s Association of Nigeria (DJAN), as the umbrella body representing DJs in Nigeria, has entered into a Memorandum of Understanding with MCSN.
“Under the arrangement, DJAN is authorised to work with MCSN to facilitate the payment of royalties by DJs nationwide, based on the tariff that DJAN had negotiated with MCSN.”
Broadcasting
Netflix Hikes Subscription Fees Again in Nigeria over “Market Conditions”

Netflix has increased its subscription fees in Nigeria for the third time since 2024, with the Premium Plan rising by 21.43%, from ₦7,000 to ₦8,500 per month.
This marks the streaming platform’s first price adjustment in 2025.
Other subscription tiers have also been affected.
The Standard Plan now costs ₦6,500, up from ₦5,500—a hike of 18.18%.
The Basic Plan has increased from ₦3,500 to ₦4,000, while the Mobile Plan moved from ₦2,200 to ₦2,500, reflecting increases of 14.29% and 13.64% respectively.
The latest adjustment aligns with Netflix’s broader global pricing strategy, which the company has linked to its ongoing investment in content and platform development. In a previous communication to investors, Netflix stated, “As we invest in and improve Netflix, we’ll occasionally ask our members to pay a little extra to reflect those improvements. Which in turn helps drive the positive flywheel of additional investment to further improve and grow our service.”
While the company did not explicitly cite inflation in its most recent update, its website indicates that local economic factors influence its pricing structure.
“Price changes are made to respond to local market changes, such as changes to local taxes or inflation,” the statement read.
The move mirrors similar pricing shifts among other major digital and entertainment services in Nigeria.
Companies including Google, DSTV, GOtv, and Microsoft have also raised subscription rates, attributing their decisions to continued inflationary pressures and a weakening naira.
Broadcasting
NBC, Nigcomsat Launch Satellite Plan to Transform Broadcasting

National Broadcasting Commission (NBC) and Nigerian Communications Satellite Limited (NIGCOMSAT) have jointly introduced “The Big Picture’, a flagship initiative under Nigeria’s renewed Digital Switchover (DSO) project.
Under the project, Nigerian households will for the first time, gain access to high-quality digital broadcasts via affordable satellite dishes, hybrid devices, and internet-enabled set-top boxes.
Backed by President Bola Ahmed Tinubu and in line with his Renewed Hope Agenda, this strategic shift marks a significant step toward transforming Nigeria’s broadcasting landscape by leveraging the country’s sovereign satellite infrastructure.
At the heart of the initiative is NigComSat-1R, Nigeria’s only communications satellite in orbit, which will play a critical role in delivering Direct-to-Home (DTH) broadcasts across the entire Nigerian territory.
This satellite-first approach eliminates the traditional dependence on terrestrial transmission towers, accelerating the nationwide rollout of digital broadcasting by over 65%.
It also offers a scalable, cost-effective, and future-ready model for expanding digital access and promoting national storytelling.
Key figures, including: Charles Ebuebu, director-general, NBC; and Jane Nkechi Egerton-Idehen, managing director, Nigcomsat, have welcomed this forward-thinking strategy, emphasising its importance in maximising the use of national satellite assets and ensuring inclusive access to digital content.
An estimated 10 million homes equipped with DVB-S2-compatible televisions or decoders will have immediate access to free-to-air channels, while others will benefit from next-generation hybrid devices that combine satellite feeds with online streaming capabilities.
These new branded devices are designed with the country’s youth-dominated demographic in mind over 60% of the population is under the age of 25.
They will feature pre-installed apps, voice search functionality, parental controls, and seamless integration with NigComSat’s Electronic Programme Guide (EPG), offering an intuitive and engaging user experience.
In a data-driven upgrade to Nigeria’s broadcasting ecosystem, NBC is also partnering with global analytics firm GARB to introduce real-time audience measurement technology.
This will enable broadcasters, advertisers and content creators to analyse viewership trends across regions and devices, helping to tailor content more effectively and drive higher audience engagement. The introduction of this system is expected to boost advertising revenue by as much as 300% by 2026.
The success of “The Big Picture” will rely on robust collaboration between public and private stakeholders.
The Broadcasting Organisation of Nigeria (BON) and other content partners are expected to supply 60% of programming for the new 120-channel platform, using both original and repurposed content.
Meanwhile, local manufacturers will contribute by producing around 5 million compliant devices annually, a move projected to create over 20,000 jobs in assembly plants nationwide.
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