TStv CEO Faces Fresh Charges Over Alleged N1bn Fraud

Bright Echefu, the Managing Director of Telecom Satellites Ltd (TStv), has been re-arraigned by the Economic and Financial Crimes Commission on 12 amended counts of alleged fraud and tax evasion totaling N1 billion and $1.3 million.

The charges were filed before the Federal High Court in Abuja and include allegations of defrauding investors, tax defaults, and illegal retention of VAT and PAYE taxes. Echefu and his co-defendants pleaded not guilty to all charges.

Through his legal team, Echefu has proposed an out-of-court settlement, claiming partial repayment has been made to some investors. The court, however, proceeded with formal arraignment and adjourned the case to October 15, 2025, for trial.

TStv was initially launched in 2017 with promises to disrupt Nigeria’s pay-TV market but failed to sustain operations. After a brief return in 2020, it eventually went off the radar again in 2023. Echefu has since unveiled a new platform, LUFT TV, promising to migrate existing TStv customers to the new service.