Is TSTV Going Bankrupt Over Losing Headquarters And Fined Millions? – Faqontech

Is TSTV Going Bankrupt Over Losing Headquarters and Fined Millions?

by Ayorinde Ayodeji

Wow, this is a sad news for TSTV as they might be going bankrupt and this might lend to them ending the cable TV soon. TSTV first announced it’s cable TV to provide Nigerians cable TV on the go.

TSTV promised mouth-watering features that even the most ardent supporter of DSTV will be interested in. We were all happy when they promised to take down DStv and GOtv; we were all happy when they promise to introduce the Pay-As-You-Consume TV service, meaning you only pay for what you consume. 

News has it that:

A law firm, Rahael Adakole & Co (Lighthouse Chamber), on Tuesday took possession of the Abuja Headquarters office of Telcom Satellite Ltd. Television (TSTV) due to its inability to pay its rent.

Owned by West African Business Platform Ltd., the claimant, the property was retrieved in respect to the judgment by Justice Yusuf Halilu of the FCT High Court in November 2019.

The lawsuit followed the inability of TSTV to pay the tenancy agreement entered on May 1, 2017.

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The office is located at Plot 1191, Jahi District, off Gilmore Construction Company, FCT.

Lawyer to the owners, Raphael Adakole, had filed the suit – No. CV/2739/18 – in 2018 against TSTV company and its Managing Director, Bright Echefu.

The counsel prayed for an order declaring that the tenancy agreement between the plaintiff and defendants had elapsed by effluxion of time.

Now, is this the end of TSTV? or should we hope to see them get back on their feet soon as a lot of users are depending on them.

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