Checks by TimesNow.com.ng on Sunday, June 16, 2024, show that the company has reverted to the old prices after subscribers paid the new rates for May 2024 after the new hike.
The company, which vowed to challenge the order of the Competition Consumer Tribunal (CCT), reported a decline in its subscriber base in Nigeria, where it lost over a million subscribers.
Checks show that DStv subscribers are now required to pay N29,500 instead of N37,000 for the Premium package, and Compact+ package subscribers can now pay N19,800 instead of the new price of N25,000.
Compact Bouquet subscribers can now pay the previous rate of N12,500 instead of N15,700, while Confam package subscribers must pay the old price of N7,400 instead of the increased rate of N9,300 per month.
Yanga package subscribers’ prices have reverted to the old N4,200 per month instead of the new N5,100.
Padi subscribers will pay the former price of N2,950 instead of the N3,600 new price.
GOtv subscribers are now required to pay the old rates of N12,500 for the Super+ package from the N15,700 it increased to.Â
GOtv Super users have their prices reverted to N7,600 from N9,600, which increased before the court order.
Others include N5,700 for GOtv Max, N3,950 for GOtv Joli, and N2,700 for the lowest package, GOtv Jinja, which subscribers will now pay from the new N3,300 rate.
It is still being determined if the company is also offering a month-free subscription as ordered by the court.
No official comments from MultiChoice to confirm the development, as the company’s officials could not comment on the issue.
According to reports, the company hiked its subscription prices to align with market realities following high inflation in Nigeria and the naira devaluation.
TimesNow.com.ng previously reported that the MultiChoice Group, owners of DSTV, said it had an account balance of N31.6 billion with the liquidated Heritage Bank.
The satellite television company disclosed in its annual report for the 2024 Financial Year that it had a deposit of N33.7 billion with the bank as of the 2024 fiscal year ending on March 31, 2024.
The company disclosed that the balance was subsequently reduced to N31.6 billion due to remittance before the Central Bank of Nigeria revoked the bank’s license on June 3, 2024.
Source: TimesNow.com.ng
