November 10, 2025
By Ayinde Adeleke
The future of ARISE Television and its sister publication, ThisDay Newspaper, has come under scrutiny following a receivership notice issued by the Asset Management Corporation of Nigeria (AMCON) on November 6, 2025.
The notice is linked to an alleged outstanding debt estimated at about $225.8 million, reportedly associated with loans facilitated through First Bank of Nigeria. As part of the enforcement process, AMCON is said to have moved to take possession of certain assets connected to the media group and its Chairman, Prince Nduka Obaigbena.
The development has raised concerns over the operational stability of one of Nigeria’s most prominent private media networks. ARISE TV, known for its national and international news coverage, and ThisDay, a major daily newspaper, both hold significant influence in the country’s media landscape.
In response, Obaigbena has initiated legal proceedings to challenge the action. He described the move as unjust and politically motivated, insisting that the organization has remained compliant in previous settlement agreements.
“We have taken steps to address any outstanding issues. This latest action is unnecessary, unfair, and driven by forces seeking to silence independent journalism,” Obaigbena said in a statement released through his legal representatives.
Industry analysts say the situation highlights the complex relationship between regulatory enforcement, corporate indebtedness, and media independence in Nigeria. Some observers warn that a forced takeover could reshape media ownership dynamics, especially ahead of key national political and economic developments.
AMCON has not issued further public clarification beyond confirming the enforcement notice.
For now, ARISE TV and ThisDay continue operations, though uncertainty remains over the long-term outcome pending the court’s decision and any settlement negotiations.
