By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
RebruitRebruitRebruit
  • Latest
  • Finance
  • Technology
  • Security
  • Guides
Reading: NIgeria to lose ₦1.8 trillion in tax debt if Canal+ buys MultiChoice
Font ResizerAa
RebruitRebruit
Font ResizerAa
Search
  • Latest
  • Finance
  • Technology
  • Security
  • Guides
Follow US
  • About
  • Our Standards
  • Contact
  • Privacy Policy
  • Cookie Policy
  • Terms of use
© 2025 REBRUIT | We don’t control content on external sites. Read more about how we handle external links

Home » NIgeria to lose ₦1.8 trillion in tax debt if Canal+ buys MultiChoice

Latest

NIgeria to lose ₦1.8 trillion in tax debt if Canal+ buys MultiChoice

Charles Ndubuisi
Charles Ndubuisi
March 12, 2024
Share
2 Min Read
MUltiChoice
MUltiChoice
SHARE

During a meeting at the Nigerian House of Representatives, Saidu Abdullahi announced to the congregation that there was a motive by a foreign entity to purchase the MultiChoice group and its subsidiaries in a mandatory takeover.

The issue with this transaction to the Nigerian Government is the fact that MultiChoice Nigeria has an outstanding tax debt, making the sale of the company result in a loss in taxes for Nigeria if actions to recover the funds are not made immediately.

In an attempt to secure the MultiChoice outstanding tax debt, the Nigerian House of Representatives has taken the step forward to warn the potential buyer about the outstanding tax debt, which may have been omitted from the company’s financial report.

To further investigate this matter, a committee on finance by the Nigerian House of Representatives has been deployed to crosscheck the MultiChoice tax non-remittance, adopting the motion “Need to investigate the alleged unremitted ₦1.8 trillion and $342 million tax revenues owed the Federation by MultiChoice”.

According to Saidu Abdulahi, the Pay-TV Company is accused of concealing important tax information that was exposed from the company’s submission in South Africa. This act ignites the Nigerian House of Representatives’ right to probe MultiChoice based on Sections 88 and 89 of the 1999 Constitution.

To get the exact figure owed by the Pay-TV Company in tax debt, the FIRS made contact with a consultant to audit the outstanding debt obligations of the MultiChoice Group and subsidiaries operating in Nigeria spanning from 2011 to 2020.

According to the in-depth audit by the consultant, the MultiChoice group is said to owe ₦1.8 trillion while the Nigerian subsidiaries owe $342 million from the timeframe specified.

Share This Article
Facebook Whatsapp Whatsapp Bluesky Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

Apple’s AI Search Move Could Cost Google Billions
Apple’s AI Search Move Could Cost Google Billions
Latest
AMD Beats Q1 2025 Expectations, Despite Trade Pressures Between the U.S. and China
AMD Beats Q1 2025 Expectations, Despite Trade Pressures Between the U.S. and China
Latest
M&S Cyber Attack
How Hackers Broke Into M&S and Co-op: It Wasn’t a Glitch — It Was Human Error
Security
gtaVI
Grand Theft Auto VI is officially coming on May 26, 2026
Latest
WWDC 2025: Here’s what we can expect from Apple in June
WWDC 2025: Here’s what we can expect from Apple in June
Latest

You Might Also Like

Apple and Anthropic Are Teaming Up to Build an AI-Powered Coding Platform
Latest

Apple and Anthropic Are Teaming Up to Build an AI-Powered Coding Platform

May 3, 2025
Tariffs Cost Apple Nearly $1B—Here’s How It’s Fighting Back
Latest

Tariffs Cost Apple Nearly $1B—Here’s How It’s Fighting Back

May 2, 2025
Port Houston
Latest

Major Xfinity Outage Knocks Out Internet Across Houston

May 2, 2025
XBox
Latest

Xbox is Getting more Expensive—And it’s not just them

May 2, 2025
street view of london with famous department stores
Latest

Harrods Responds to Cyber Attack as UK Retail Faces Ongoing Threats

May 2, 2025
Marks-&-Spencer-cyber-attack
Latest

M&S Cyberattack Enters New Month as Online Services Remain Offline

May 1, 2025
Apple
Latest

Apple Warns of $900M Tariff Hit as It Shifts iPhone Production to India

May 3, 2025
Amazon's Project Kuiper satellites
Latest

Project Kuiper: Amazon Deploys First Production Satellites into Orbit

April 29, 2025
Follow US
© 2025 REBRUIT | We don’t control content on external sites. Read more about how we handle external links
  • About
  • Our Standards
  • Contact
  • Privacy Policy
  • Cookie Policy
  • Terms of use
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?