The Competition and Consumer Protection Tribunal has dismissed the stay of execution filed by the Multichoice Nigeria Limited over N25million contempt charge against it .
A release by Ayotomiwa Ayodele ,the Communications Officer said Multichoice Nigeria Limited was, on 8th September 2022, found in Contempt of the Tribunal for violating its Exparte Order of 30th March 2022 instructing the company to maintain status quo on the proposed increase of prices of its products
The planned upward review of products prices was to commence on the 1st of April 2022.
The CCPT sitting in Abuja, on Monday 24th October 2022, dismissed the Application filed by Multichoice Nigeria Limited seeking Stay of Execution on the Tribunal’s administrative penalty of N25,000,000 (Twenty-five million naira only) given in its Judgement of 8th September 2022.
The Applicant represented by its Counsel Jamiu Agoro Esq, filed an Application for Stay of Execution of the Judgement pending its Appeal against it for want of jurisdiction.
Upon hearing the argument from the Applicant, the three-man panel consisting Rt. Hon. Thomas Okosun Presiding, Mrs Sola Salako Ajulo and Mr Ibrahim El-Yakubu dismissed the application filed by the Applicant
The tribunal held that the application failed to meet the requisite conditions to grant same and ordered the Applicant to immediately pay the administrative penalty into an escrow account to be furnished by the Acting Registrar of the Tribunal pending the hearing and determination of the Appeal at the Court of Appeal.