Cable TV operator MultiChoice Nigeria Limited, has had a last laugh in the suit filed against it for hiking the subscriptions of its brands DSTV and GOTV.
The Competition and Consumer Protection Tribunal sitting in Abuja and headed by Thomas Okosun, said the three-man tribunal lacked the power to regulate prices. The suit was filed by Mr Festus Onifade challenging the increment last April.
According to the tribunal, the power to regulate prices of goods and services does not reside in the Federal Competition and Consumer Protection Commission (FCCPC), the regulatory agency. The power to regulate prices of goods and services only resides in the President.
The tribunal, which held that the claimants failed to prove that MultiChoice had abused its power of dominance in the market, said since Nigeria operates a free market economy, the argument lacked merit.