Ciao,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- FCCPC drops case against MultiChoice, CEO cleared
- CBN tightens rules for POS agents
- Moniepoint ends first UK year with $1.2M loss
FCCPC drops case against MultiChoice, CEO cleared
MultiChoice Nigeria can breathe easy again. The Federal Competition and Consumer Protection Commission (FCCPC) has dropped its case against the pay-TV giant, its CEO John Ugbe, and several directors. The withdrawn charge accused them of obstructing an investigation and ignoring a lawful summons related to their pricing practices.
FCCPC’s legal team, led by Nsitem Chizenum, formally withdrew the charge marked FHC/ABJ/CR/197/2025 during Tuesday’s court session in Abuja. The move comes just months after the Federal High Court dismissed MultiChoice’s own case seeking to justify its DStv and GOtv price hikes, a decision that had drawn intense public scrutiny.
Initially, the regulator accused Ugbe and others of failing to appear before the FCCPC in March 2025 and of withholding key documents requested as part of an ongoing probe into the company’s pricing model. The agency had claimed these actions violated Section 3 of the FCCPC Act 2018, which prohibits obstructing lawful investigations.
But on Tuesday, FCCPC’s lawyer, Daniel Amadi, told Justice James Omotosho that both sides had reached an understanding and agreed to withdraw the matter. “Parties have settled and we agree to withdraw this suit,” Amadi said. MultiChoice’s counsel, Rolake Akingbola, raised no objections, and the judge promptly struck out the case.
The development effectively ends what had been shaping up as a major legal battle between the pay-TV company and the competition regulator. It also closes a tense chapter in a long-running standoff over MultiChoice’s frequent price reviews and alleged market dominance.
For now, the dust has settled. But the spotlight on Nigeria’s pay-TV pricing practices isn’t likely to fade anytime soon. With the FCCPC watching closely, the next round of tariff adjustments will almost certainly come under even tighter scrutiny.
CBN tightens rules for POS agents
From April 1, 2026, POS agents in Nigeria will be forced to pick one principal. No more juggling multiple masters. That’s according to new guidelines the Central Bank of Nigeria (CBN) released on October 6, 2025. The exclusivity rule doesn’t kick in until next year, but the rest of the changes are already active.
Under the new rules, agents can still carry out familiar tasks — cash-in, cash-out, naira transfers, bill payments — and even help with account opening (by submitting forms to their principal). But now, “super agents” (those who recruit or manage agents) are barred from doing agent banking themselves. Principals also get to decide which services their agents can offer by assessing risk and following CBN’s standards.
The exclusivity clause goes beyond just the individual. Agents must belong to only one super agent network at a time. Super agents, however, may continue partnering with multiple principals. Agents also face tougher criteria: no non-performing loans in the past year, no bankruptcy or felony convictions, and your BVN must be clean.
Business setup matters now too: your agent point must be a fixed location (at least a kiosk), and non-individual agents (like shops, service outlets) must operate from their registered premises. Also, principals can no longer prefer one card brand over another; they must ensure equal pricing and rewards for all customers and agents. Plus, agent transactions must be separate from merchant ones, and all agent activity should use the “6010” agent code.
And there’s a new class in town: Payment Terminal Service Aggregators (PTSAs). These guys will register POS terminals, track their locations, and help ensure each device stays properly monitored. This builds on the CBN’s August 2025 push for geotagging POS devices to reduce fraud and boost transparency. For more information, check out Chimgozirim’s story for Techpoint Africa.
Moniepoint ends first UK year with $1.2M loss
It’s been a rocky start for Moniepoint’s UK adventure. The Nigerian fintech, which made its big move into the British market last year, recorded a $1.2 million loss in its first year of operations, according to new regulatory filings. The company didn’t generate any revenue between February and December 2024, with its parent company footing the bill to keep things running.
Moniepoint had entered the UK with high ambitions, and in April 2024, it launched Monieworld, a digital platform meant to help African immigrants access financial services, starting with remittances. The idea was to build something familiar for Africans in the diaspora, beginning with the UK’s vibrant Nigerian and Ghanaian communities.
To speed up its plans, Moniepoint went shopping. In July 2025, it finalised the acquisition of Bancom Europe, a UK-based fintech licensed by the Financial Conduct Authority (FCA) as an e-money institution. The deal, whose value remains undisclosed, gives Moniepoint instant regulatory access to not just the UK but also the entire European Economic Area (EEA).
That move might turn out to be its real play. Rather than wait months — or years — for a fresh FCA licence, Moniepoint now inherits Bancom’s existing authorisations, effectively giving it a passport to operate across Europe. For a fast-growing African fintech trying to go global, that’s a shortcut worth taking.
Still, Bancom itself hasn’t exactly been thriving. The company’s revenue dropped from £73,526 in 2023 to a mere £68 in 2024, all from payment and card services linked to MasterCard products. It ended 2024 with a small loss of £83,646 and negative retained earnings. In other words, Moniepoint has some heavy lifting ahead to revive it.
Per filings, Moniepoint has already committed to injecting more funds into the business. It holds a £7.3 million share capital — cash that could support its expansion plans across Europe. The strategy is clear: take the pain now, build infrastructure, and bet that the African diaspora will make it all worthwhile.
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Opportunities
- Airtel is hiring Enterprise Key Account Manager. Apply here.
- Financial Times is recruiting a West African Correspondent. Apply here.
- Moove is hiring a Marketing Manager. Apply here.
- Standard Bank is looking for a Data Engineer. Apply here.
- Food Court is looking for a Marketing Coordinator. Apply here.
- FairMoney is recruiting Head of Business Banking Product. Apply here.
- Max.ng is looking for a Platform Support Intern. Apply here.
- Businessfront, the parent company of Techpoint Africa, is hiring a Sales Associate. Apply here.
- Businessfront, the parent company of Techpoint Africa, is looking for a Managing Editor (FMCG). Apply here.
- Flutterwave is hiring for several roles. Apply here.
- Paystack is recruiting a performance marketing specialist in Nigeria. Apply here.
- Paga is recruiting for several positions. Apply here.
- Moniepoint is hiring for several positions. Apply here.
- Are you building a startup can feel isolating, but with Equity Merchants CommunityConnect, you can network with fellow founders, experts, and investors, gaining valuable insights and exclusive resources to help you grow your business. Click here to join.
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Have a wonderful Wednesday!
Victoria Fakiya for Techpoint Africa
