MultiChoice Nigeria’s sports betting subsidiary, KingMakers, has reported a remarkable 76% increase in revenue for the financial year ending March 31, 2025, reaching $106 million. This growth highligts a rising appetite for sports betting in Nigeria, even as the company faces a decline in its traditional PayTV subscriber base for DStv and GOtv services. The surge in KingMakers’ revenue is attributed to an influx of higher-quality first-time bettors and a boost in its higher-margin online betting operations, according to MultiChoice Group’s financial report. Although the company did not disclose the exact number of customers in the latest report, it had previously recorded a 37% growth in betting customers and a 26% revenue increase in the 2024 financial year. Despite the revenue growth in local currency terms, MultiChoice noted a 30% drop in reported revenue when converted to U.S. dollars, due to the weakening of the Nigerian Naira. The Nigerian business remained EBITDA positive, but overall KingMakers posted an EBITDA loss of $9 million, impacted by investments in launching SuperSportBet in South Africa and currency fluctuations. MultiChoice’s strategic pivot to betting began with acquiring a 20% stake in Nigerian online sports betting company BetKing in 2020, later increasing its holding to 49% in 2021 for $281.5 million. Leveraging its extensive sports coverage, MultiChoice aims to capitalize on the rapidly growing African sports betting market, which KPMG projects to reach $37 billion by 2022, with online betting revenues expected to nearly double by 2027. The company holds a strong cash position of $97 million to support its growth ambitions, signaling confidence in the betting sector’s potential despite challenges in its core PayTV business.
Nine internet fraudsters convicted by Federal High Court in Anambra
The Federal High Court sitting in Awka has convicted and sentenced nine individuals for internet fraud-related offenses. The convicts, arrested in Enugu on May 2, 2025, were found guilty of crimes including identity theft and fraudulent impersonation, according to the Economic and Financial Crimes Commission (EFCC). Justice Evelyn Anyadike presided over the case and handed down sentences ranging from six months to 18 months imprisonment, with options for fines and community service. Among those convicted are Daniel Okochukwu Okoh, Onwe Chidera Solomon, Hyacinth Chinedu Ani, Malachy Makuochi Adonu, Udeh Collins Chidimma, Ukoro Victor Somto, Ezekiel Valentine Chidubem, Ugwuanyi Kingsley Chinwetalu, and Obi Ezeanyim Eric Ifesinachi. The EFCC revealed that some defendants impersonated foreign nationals on social media platforms like Instagram and Telegram to defraud unsuspecting victims. For example, Ukoro Victor Somto was charged with impersonating a U.S.-based actress via Telegram, while Daniel Okoh created a fake Instagram profile posing as a Russian living in Australia to deceive a foreign national. At their arraignment, all defendants pleaded guilty. EFCC counsel Assistant Commander Rotimi Ajobiewe urged the court to convict and sentence them accordingly, while defense lawyers requested mercy, citing remorse from the convicts. Justice Anyadike sentenced Hyacinth Ani, Ugwuanyi Chinwetalu, and Onwe Solomon to six months imprisonment each with an option of a N50,000 fine. Malachy Adonu received two years imprisonment or a N200,000 fine, and Daniel Okoh was sentenced to six months imprisonment with community service and a fine option. Others received varying sentences and fines based on the counts they faced. In addition to imprisonment and fines, some convicts were ordered to forfeit electronic devices used in the crimes, including phones and laptops, to the Federal Government. In a related case, Justice Anyadike remanded Okafor Sunday Chikwado for operating a Bureau De Change without a license and other related charges. His case is set for bail hearing on July 15, 2025.
AI-Driven identity fraud surges in Africa as traditional scams decline, new report reveals
A recent report from global verification platform Sumsub highlights a significant shift in the identity fraud landscape across Africa. While traditional scams such as document forgery continue to decline, synthetic identity fraud powered by artificial intelligence (AI) and digital forgery tools is rapidly on the rise. According to Sumsub’s Q1 2025 Identity Fraud Report, Africa’s overall fraud rate has slightly dipped to 3.42%, down from 3.50% in the same period last year. However, this modest decrease masks a deeper transformation in how fraudsters operate. Tanzania and Nigeria buck the continental trend, reporting increases in fraud rates to 4.89% and 4.44% respectively. Tanzania’s fraud rate jumped nearly 10%, while Nigeria’s increased by 2.5%. Conversely, South Africa and Kenya recorded significant declines of 26% and 15.5% respectively. The report highlights a sharp drop in traditional document forgery across several key markets. Nigeria saw an 80% decrease in document forgery cases, thanks to improved verification systems. South Africa recorded a 73% reduction, while Kenya and Ghana also saw declines of 45% and 50% respectively. While traditional scams are fading, synthetic identity fraud, where criminals use AI-generated credentials and fabricated documents, is surging. In South Africa, synthetic document fraud remains below 0.3% but grew by an astonishing 480% year-on-year. Tanzania and Nigeria also saw significant increases of 184% and 192%, with synthetic fraud now accounting for over 2% and 1.5% of verification attempts respectively. Sumsub’s VP of Sales for Africa, Hannes Bezuidenhout, commented, “Africa’s fraud landscape is undergoing a seismic shift. Enhanced verification tools have decimated traditional document forgery, but criminals are adapting with synthetic IDs and AI-powered scams.” The report also reveals that fraud is evolving differently across industries. While IT services, gaming, and social media platforms have seen fraud reductions, financial sectors are experiencing increased fraud activity. Professional services and social platforms remain high-risk, with nearly 6% of all verification attempts flagged as fraudulent in Q1 2025. Bezuidenhout emphasized the urgency for businesses to upgrade their fraud prevention strategies: “The data proves that fraud prevention is now a race between innovation and adaptation. Businesses must invest in cutting-edge tools that secure their platforms while meeting regulatory standards.” As fraudsters increasingly leverage AI to create synthetic identities and sophisticated digital personas, the focus for businesses and regulators must shift from merely detecting fake documents to recognizing these fabricated digital identities. With the rise of AI-driven fraud tactics, Africa’s fight against identity fraud is entering a new and challenging phase, one that demands innovation, vigilance, and collaboration across sectors.
Polo Luxury launches new TVC campaign celebrating success and ambition
Polo Luxury, Nigeria’s leading luxury retailer, has unveiled its emotionally charged second television commercial (TVC) titled “Reward of Success,” spotlighting the journey of ambition, perseverance, and achievement. The campaign highlights the brand’s philosophy that luxury is not frivolous but earned through hard work. The TVC captures pivotal moments in the lives of driven individuals who mark their milestones with Polo Luxury’s prestigious offerings, including Swiss timepieces and fine accessories. Shot by acclaimed filmmaker Daniel Obasi, the commercial portrays success as a meaningful story, not just possession. Jennifer Obayuwana, Executive Director of Polo Luxury Group, said, “This campaign is about honouring the success stories that often go untold and a reminder that hard work deserves recognition and reward.” For over 35 years, Polo Luxury has been the exclusive retailer of world-renowned brands such as Rolex, Cartier, and Montblanc, trusted for authenticity and craftsmanship. The new TVC reinforces Polo Luxury’s position as the ultimate destination for those who see success as something to be celebrated and worn.
International airlines suspend Middle East flights amid Israeli strikes on Iran
In response to Israeli military strikes targeting Iranian nuclear and missile facilities, a wave of international airlines has suspended or cancelled flights across the Middle East, citing escalating security risks and widespread airspace closures. Israel has closed its airspace indefinitely, grounding all flights at Ben Gurion Airport in Tel Aviv. Israeli carriers El Al and Israir have halted operations and evacuated aircraft from the region. Meanwhile, Iran, Iraq, Jordan, and Syria have also closed their airspaces, forcing airlines to reroute or cancel flights. Major carriers affected include Air France, KLM, Lufthansa, Ryanair, and Aegean Airlines, which have suspended flights to Tel Aviv through mid to late summer. Russian Aeroflot cancelled its Moscow-Tehran route and adjusted other Middle East flights. Middle Eastern airlines such as Emirates, Etihad, flydubai, and Turkish Airlines have also halted services to Iran, Iraq, Jordan, Lebanon, and Israel, with some limiting flights to daylight hours only. Delta Airlines removed all New York-Tel Aviv flights through August 31, while Qatar Airways suspended flights to Iraq, Iran, and Syria until mid-June. Air India reported diversions and returns of multiple flights due to restricted airspace. These disruptions reflect the heightened tensions following Israel’s preemptive strikes, which have prompted regional airspace closures and raised safety concerns for international travel. Passengers are urged to check directly with airlines for the latest updates as the situation remains fluid.
Four Filipinos, eight Nigerians convicted for cybercrime and money laundering
Justice Yellim Bogoro of the Federal High Court in Lagos has sentenced four Filipino nationals and eight Nigerians to one year in prison for their involvement in cyber-terrorism and internet fraud. The convicts, including Reyna Mae Eriba, Chyna Samonte, Zara Fabian, and Dominique Medina from the Philippines, were part of a group of 729 suspects arrested in December 2024 during a raid in Lagos linked to a sophisticated Ponzi scheme and cyber-terrorism activities. The Nigerians convicted alongside them include Chidera Ezechukwu, Favour Oluchukwu, Egwenum Ifeanyi, David Okezie, Gbenga Shittu Solomon, Ibraheem Olamilekan, Chinecherem Michael, and Oghomienor Jotham. According to the Economic and Financial Crimes Commission (EFCC), the suspects exploited young Nigerians in identity theft and online dating scams, with proceeds traced to various bank accounts, including one holding over N12 billion. All twelve pleaded guilty to charges of cyber-terrorism, internet fraud, and money laundering under Nigeria’s Cybercrimes Act and Terrorism Prevention Act. Justice Bogoro ordered the forfeiture of all recovered assets to the Federal Government and directed the Nigeria Immigration Service to repatriate the Filipino convicts after serving their sentences. The court also allowed fines as alternatives to imprisonment for some Nigerian convicts. EFCC prosecution counsel Anita Imo emphasized the serious threat posed by such cybercrimes to Nigeria’s economic and social stability. This judgment sends a strong message against cybercrime and reinforces Nigeria’s commitment to combating internet fraud and terrorism.