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AGF Take Over NCC’s Case Against CEO Karl as MTN Petition Succeeds

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The Federal High Court Abuja on Monday has allowed the Office of the Attorney General of the federation to take over and review an alleged copyright infringement case against MTN Nigeria Communications Limited and its CEO, Karl Toriola based on a petition from the latter.

MTN Nigeria Communications Limited had previously asked the court to strike out the case instituted against it by the Nigerian Copyright Commission (NCC) for allegedly being defective.

The case, marked FHC/ABJ/CR/111/2024, was filed by the NCC against MTN Nigeria Communications Limited; Karl Toriola, Chief Executive Officer of MTN Nigeria; Nkeakam Abhulimen; Fun Mobile Limited; and Yahaya Maibe.

The case was adjourned several times following the non-appearance of the MTN CEO and others, who were scheduled to be arraigned and take their plea.

The NCC had alleged that MTN and others used several soundtracks as call back ringtones without the consent and authorization of the original owners.

A staff member of the NCC, Samuel Y. Udowo, also deposed before the court that the Commission investigated a complaint of criminal copyright infringement against the defendants arising from acts that include the usage of the musical works/sound recordings of Maleke Idowu Moye as Caller Ring Back Tunes without his consent and authorization.

He added that the investigation revealed that the defendants had indeed committed some copyright offenses, requiring some form of penalties.

But MTN’s lawyer, Obafemi Agaba filed a motion against NCC, asking the court to decline jurisdiction on the matter.

MTN files petition

While the NCC case was pending, Jackson, Etti & Edu, acting as Solicitors to MTN Nigeria Communications Plc, Kari Toriola and another, asked the AGF to take over the case from the NCC, citing moves by Maleke Idowu Moye and the Commission to “embarrass” the CEO, smear MTN’s reputation and destabilize the company’s business including its share price.

MTN told the OAGF that Maleke had been financially settled in the past before the time of Karl Toriola, and it had also “discontinued the use of all the songs” since 2017.

The solicitors urged the OAGF to examine the NCC’s matter so as to “prevent the abuse of legal process.” MTN petition reads,

” It is our humble submission that the facts enumerated above will reveal that the present criminal Charge against MTNN, Its CEO and a Junior officer is calculated to harass, embarrass, and force the hands of the 1st, 2nd and 3rd Defendants to do the bidding of the Nominal complainant (Mr. Maleke) by paying several hundreds of millions of naira for alleged acts of infringement that took place when the 2nd and 3rd Defendants were not in charge or responsible for the affairs of MTNN.

“The prosecution of this case and the trial of MTNN’S CEO will erode the corporate image of MTNN and deplete its profitability thereby affecting its share price, the Nigerian stock market, and taxes payable to the Federal Government by the company.”

In letter to the Court dated June 19, 2024, the Director of Public Prosecutions of the Federation, OAGF, stated that “After a careful consideration of the petition and in line with the provisions of Section 174 (1) (b) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), the Honourable Attorney-General of the Federation and Minister of Justice has taken over the prosecution of CHARGE NO: FHC/ABJ/CR/111/2024 BETWEEN NIGERIAN COPYRIGHT COMMISSION V. MTN NIGERIA COMMUNICATIONS, KARL OLUKOTUN TORIOLA, NKEAKAM ABHULIMEN, FUN MOBILE LIMITED, YAHAYA MAIBE from the Nigerian Copyright Commission.”

What Happened on Monday

At the resumed proceedings on Monday, Aderonke Imana, Esq, counsel for the AGF, told Justice Inyang Ekwo that though the matter was slated for plea, however, she has the instruction of the Attorney General of the Federation to take over the matter this morning pursuant to his constitutional powers.

She then urged the court to give a further date because there is a need for her office to do a review of the NCC case file, adding the AGF has written to the Commission and the Nigerian Police to send a report.

“I have also written to this Court,” She added.

What do you want now? Ekwo responded.

She replied that she wanted to take over the prosecution of the case and wanted the Court to adjourn the matter to another date.

Ekwo asked her to mention the date she wanted because “I do not want you to come back and give an excuse one way or the other.”

Imana then applied for 10th October 2024.

“Upon the application of the Learned Counsel for the Prosecution, I make an Order adjourning this case to 10th October 2024, for Plea” Justice Ekwo ruled.

It is now within the purview of the AGF to either continue the case or discontinue it in line with the allegations of the MTN contained in its petition.

 

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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