The Competition and Consumer Protection Tribunal sitting in Abuja on Monday dismissed the application by Multichoice Nigeria Limited seeking Stay of Execution on the Tribunal’s administrative penalty of N25million given in its Judgement of September 8.
A statement by Ayotomiwa Ayodele, Communications Officer of CCPT, said Multichoice Nigeria Limited was found in Contempt of the Tribunal for violating its March 30 Exparte Order.
The tribunal had instructed the company to maintain status quo on the proposed increase of prices of its products planned to commence on April 1.
The Applicant represented by its Counsel, Jamiu Agoro, 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.
The panel said that Multichoice 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.
This action was taken pending the hearing and determination of the Appeal at the Court of Appeal. (NAN)