HOW BAUCHI ACCOUNTANT-GENERAL TRANSFERRED STATE FUNDS TO PRIVATE COMPANY - WITNESS. (PHOTO). #PRESS RELEASE

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 How Bauchi Accountant-General Transferred State Funds to Private Company - Witness   Trial of the Accountant-General of Bauchi State, Sirajo Muhammed Jaja continued on Monday, September 21, 2026 at the Federal High Court in Abuja presided over by Justice Obiora Egwuatu with a witness revealing how Jaja diverted state funds to a private company. Jaja is facing prosecution by the Economic and Financial Crimes Commission, EFCC ,  alongside Aliyu Abubakar, Abubakar Muhammed Hafiz, Ari Manga and Muhammed Aminu Bose, for alleged corruption. The defendants are being prosecuted by the EFCC on an amended five-count charge of money laundering, diversion of public funds, and criminal misappropriation of funds to the tune of N1,635,270,350.9 (One Billion, Six Hundred and Thirty-five Million, Two Hundred and Seventy Thousand, Three Hundred and Fifty Naira, Nine Kobo). Prosecution counsel, Ekele E. Iheanacho, SAN told the court that the matter was for trial before calling in the first...
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MULTICHOICE'S SHOWMAX IS SHUTTING DOWN AFTER 11 YEARS, WITH THE COMPANY CITING HUGE LOSSES AND FAILURE TO MEET SUBSCRIBER GROWTH TARGETS. (PHOTO).

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MultiChoice's Showmax is shutting down after 11 years, with the company citing huge losses and failure to meet subscriber growth targets. 

The decision comes after a strategic review aimed at strengthening its overall digital offerings and ensuring long-term sustainability in a competitive streaming environment 1 2 The platform, launched in 2015, was conceived as MultiChoice's answer to global streaming services such as Netflix and Amazon Prime Video. 

Despite investing $309 million in equity funding in 2024, Showmax struggled to gain traction, accumulating losses of about €370 million (S$428.9 million) in the three years leading up to the Canal+ takeover  MultiChoice has assured subscribers that their service will continue uninterrupted for now, and no immeiate action is required. The company is working on a subscriber and content migration plan, which will be communicated in the next few weeks. The shutdown is part of Canal+'s cost-cutting measures, aimed at saving about €400m by 2030 . 

Key points:

 • Showmax will be wound down in the coming months, with no job losses due to a three-year retrenchment ban in the takeover agreement. 

• MultiChoice will focus on its television channels, including Africa Magic, M-Net, and Mzansi Magic.

 • The decision reflects the challenges of building a profitable streaming business in price-sensitive African markets. 

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