It's all about infotainment: CBN Building burnt down after the suspension of Sa...

It's all about infotainment: CBN Building burnt down after the suspension of Sa...: The Lagos State office of the Central Bank of Nigeria is on fire. The fire started at about 5:40 PM at the top most part of the buildin...

CBN Building burnt down after the suspension of Sanusi. What is their plans?

The Lagos State office of the Central Bank of Nigeria is on fire. The fire started at about 5:40 PM at the top most part of the building.
Men of the Lagos Fire Service and other emergency agency officials are said to have arrived the scene.
The over 50 year old building is located at the Tinubu area of Lagos Island. It is situated opposite the Stock Exchange office on Custom Street, Marina.
The building used to serve as the bank’s headquarters before the Federal Capital Territory was moved to Abuja.
The cause of the fire is yet to be ascertained.

Source: Channel tv

The value of the Nigerian Entertainment Industry

By ROBERTS ORYA
“Nollywood is getting set to take over the world. I recognize the role of entertainment in the Nigerian economy and this government will support an industry that makes Nigerians happy. I have given them direct order to make sure entertainers have $200 million worth of loan to work with. Make more movies, write and produce more hit songs, provide jobs and give hope to our people.”
- President Goodluck Jonathan
It bears similarity to Hollywood. A number of Nollywood actors and actresses are destined to superstardom before they attain their middle age. It is not about instant fame and fortune, but by sheer productivity and masterful performances, actors and actresses become veterans before they attain the golden age.  Musicians even tend to operate across generations. The reason for this  is that the entertainment industry does so well in harnessing the power of youth. A lot is feared about the demographic structure of Nigeria, for now and for the future. By current estimates, the Nigerian population has over 100 million people under the age of 45. Will this army of young people find gainful employment today? If they don’t, how are they to vent their energy? From, say the year 2054, when the potential demographic dividend of today will yield to something of an inverted pyramid population structure, what percentage of private and public resources would be required to support the pension system and care for the aged?
First, let’s take a close look at the last question. Most artistes across the genres of entertainment are early starters. They start to contribute to the GDP at a relatively young age. Their careers prop a broad range of economic activities that define the entertainment industry value chain. Because artistes remain economically active in their old age, and some of their past works gain even greater value much later, they’re hardly any burden on government or society. Instead, they keep both together happily.  Furthermore, outside of policy-making and regulating the industry, entertainment is a sphere of activities for the private sector. It is not a place where huge pension liabilities will accrue to the government. Therefore, the growth of the entertainment industry does not pose corresponding additional burden on fiscal management.
Indeed, the entertainment industry has been growing in leaps and bounds in the last decade. Nollywood has risen to number two position (behind India’s Bollywood) in the global film markets, in terms of volume of production. In revenue, Nollywood is third, behind Hollywood and Bollywood. Nollywood produces about 50 movies per week. Current estimates put its annual revenue at an impressive $590 million. Africa Renewal, a publication of the United Nations, reported in its May 2013 edition, that the African film industry (in which Nollywood is by far the dominant), would contribute significantly to the expected 5.2% GDP growth projection for the continent last year. Euromonitor International and Reed Exhibitions, the organisers of the World Travel Market, a global event for the travel industry, were cited by Africa Renewal saying that the Nigerian film industry will continue to drive domestic and regional tourism.
The entertainment sector is job-rich. It is now reputed to be the second highest employer of labour in Nigeria after agriculture. Characteristically employing pools of young people with diverse skill sets, the Nigerian film industry alone currently employs more than one million people. In the earlier part of its history, Nollywood struggled to attract the interest of funders. It basically relied on angel investors and personal finance of a few people within the industry to maintain production. Then, its distribution infrastructure was hijacked by pirates and other agents of unauthorised distributorship. Today however, the industry is raising a new breed of savvy entrepreneurs whose exploits have internationalised the movie industry. One of them is 33-year old Jason Njoku of Iroko Partners, who was recently listed by Forbes as one of “top 10 young African millionaires to watch.” His firm with offices in Lagos, London and New York, distributes Nollywood and Ghanaian films and music. Seen as Africa’s version of Netflix, Iroko Partners attracted further $8 million in funding last December to boost its on-demand video platform and drive it toward profitability in 2015.
With the rising funding profile, several Nigerian actors and actresses have starred in international films. Some  Nigerian films have been shot in exotic locations outside the country. One of the exponents, Genevieve Nnaji has been a guest on the Oprah Winfrey Show. Omotola Jalade-Ekeinde is currently a Goodwill Ambassador of the United Nations. In the music sphere, Femi Kuti has received two nominations for Grammy Award, while 2Face Idibia and D’banj are winners of MTV Music Awards. Around Africa, Europe and America, Nollywood actors and Nigerian musicians are showcases of the abundance of raw talents in Nigeria, and how we are a people that is up and doing. Africa Magic channel on DSTV (Digital Satellite Television) is about the magic of the Nigerian creative zest and industrial capacity; no pun intended.
Less than a decade ago, it was almost unthinkable that a local Nigerian musician would collaborate with international stars. Today, such collaborations are commonplace. U.S. mega stars Kanye West and Snoop Lion have worked with D’Banj and Don Jazzy, while Senegalese-American star Akon has signed Tuface Idibia, P-Square and Wizkid as the African representatives of his record label, Konvict Musik. Apart from signing a lucrative deal with Sony Music Entertainment, D’Banj’s was recently unveiled at the African Union Summit in Addis Ababa as the Ambassador for ONE Campaign, an advocacy that calls on African governments to commit at least 10 per cent of national budgets on agricultural investment.
Nigeria’s kings of comedy, Ali Baba, Basketmouth, Julius Agwu, AY, among others are also celebrated across Africa and beyond. Basketmouth and Julius Agwu have individually organized sold-out shows at the O2 Arena, United Kingdom. Apart from having sold-out performances at home and abroad, video and audio recordings of comedy shows have also become huge sources of revenue for these comedians.    Nollywood bubbles with the energy of youth. The predominant genre of the Nigerian music ruling our airwaves is youthful. That means perfect symmetry with the huge Nigerian youth population. The population universe of 170 million people provides a big market for retail of entertainment products. At the same time, businesses tapping the huge Nigerian consumer market, especially the mobile network operators (MNOs) and food & beverage, are propelling Nigerian entertainers to new levels of financial success with incomes from endorsements, Caller Ring Back Tones (CRBT), etc. In effect, Nigerian youths have the right motivations for success in the examples of the stars that grace our television sets and rule our airwaves.
When cinemas arrived in Nigeria, much of the movies that moviegoers were treated to came from Hollywood, Chinese and Indian films. However, over the last decade, Nollywood films have become staples of Nigerian cinemas. This experience has further deepened the cinema culture in Nigeria as Nollywood film producers and directors, with considerable investments in both equipment and training, have significantly improved the quality of Nigerian films.   The Nigerian entertainment industry has invalidated the excuse of poverty as a reason for the youth to operate in the underworld. Many music stars and comedians have emerged from poor neighbourhoods, including Mushin and Ajegunle  suburbs  of  Lagos. We therefore hope that the demographic dividend that is associated with the Nigerian population structure will be realised. The threat of a large youth population, which will turn against the larger society because of lack of the right motivation and opportunities, therefore diminishes.
Presidential vision
It is to the credit of  President Goodluck Jonathan that he made the connection with the entertainment industry as early as 2010 when he succeeded late President  Umaru Musa Yar’Adua. On November 6th of that year, he announced an intervention fund for the entertainment industry. He expressed his vision for the industry and commitment to growing it with these words: “Nollywood is getting set to take over the world. I recognize the role of entertainment in the Nigerian economy and this government will support an industry that makes Nigerians happy. I have given them direct order to make sure entertainers have $200 million worth of loan to work with. Make more movies, write and produce more hit songs, provide jobs and give hope to our people.”
This show of foresight, and the consequent recognition of the body of artistes by Mr. President, with the audience he granted the industry stakeholders, was thought to be an election gimmick ahead of the 2011 presidential election. Assuming that was the case, it would mean that the youth, given their visibility in the entertainment industry and their career successes, have become a critical bloc in the Nigerian political calculus.
However, soon after his election in 2011, Mr. President kept his promise. He has continued to renew his commitment to the industry.
The Nigerian Creative and Entertainment Industry Stimulation Loan Scheme (NCEILS) was launched with the funds pledged by Mr. President. Having facilitated the drafting of the operational guidelines for operating the Fund, and as the trade policy bank of the Federal Government, the Nigerian Export-Import Bank has managed it. NEXIM Bank flagged-off funding support for the Nigerian movie industry with its first film financing facility for the production of “Dr. Bello” Movie on Saturday, April 21, 2012 at the Radisson Blu Hotel in Lagos. The bank has since been providing funding support for the improvement of distribution infrastructure/platforms and establishment of new digital production studios.

Strike: National Hospital Workers To Resume Work On Tuesday – Union

Strike: National Hospital Workers To Resume Work On Tuesday – Union

 

Agency Report

— March 10, 2014

Striking workers of the National Hospital will on Tuesday suspend their 12-day-old strike and resume work, the Senior Staff Association of the institution has said.
Mr Kelani Jelili, Chairman of the association, confirmed this to the News Agency of Nigeria (NAN) in Abuja on Monday.
NAN reports that some members of staff went on strike on Feb. 27, following the management’s failure to implement some of their conditions of service.
Jelili said that the striking unions decided to suspend the strike to give room for further dialogue on the issues in contention.
“We have decided to suspend the strike to leave room for further dialogue with the management and we want to inform the public that normal work will resume on Tuesday, March 11 by 8 a.m.
“We therefore demand that no member of staff of National Hospital should be victimised on the account of his or her participation in the strike.’’
Dr Tayo Haastrup, Head, Management Information Service of the hospital, also confirmed to NAN that the board had received a correspondence to this effect and that work would resume.
The workers’ demand include the implementation of the Consolidated Health Salary Structure (CONHESS) by the management.
Others are provision of statutory benefits to workers as provided in the public service rule.
The health workers involved in the strike are the National Hospital Abuja chapters of Senior Staff Association, National Association of Nigerian Nurses and Midwives and the Medical and Health Workers Union of Nigeria.  (NAN)

Kidnappers Demand 30million Naira for the realease of President Jonathan's Uncle

Nitabai Inengite The abductors of President Goodluck Jonathan’s uncle and foster father, Nitabai Inengite, have rejected an offer of N30 million made by the victim's family. Mr. Inengite has been in his abductor's custody for 12 days.
A family source told SaharaReporters that their family had sent word to President Jonathan about their inability to raise the ransom demanded by the abductors.
Mr. Jonathan is currently in his home town, Otuoke. There are indications that he may facilitate the release of funds to pay the kidnappers. Our source said the kidnappers have asked for N500 million.
Mr. Inengite was abducted 12 days ago from his Otuoke residence.
Two security sources confirmed that the kidnappers had established contact with
the family and demanded a ransom of N500 million to free the victim. One source disclosed that the kidnappers were offered N30 million by the family.
The kidnappers were reportedly irked by the offer which they reportedly described as paltry for the foster father of the president.
The heavy presence of armed securitymen deployed to secure the release of Mr. Inengite has so far yielded no breakthrough.
Numerous kidnap incidents in Bayelsa State remain unsolved, heightening the state of insecurity in the president's home state. A law in the state  state prescribes the death sentence for kidnapping. The law has largely failed  to deter criminals who rake in fortunes by kidnapping relatives of notable politicians, political appointees, oil industry employees and hapless citizens.

What do you think of this new phone.

Xperia™ Z2

The world’s best camera and camcorder in a waterproof smartphone*

Only the best of Sony brings you closer to the real experience

Meet Xperia Z2. An Android phone that allows you to take photos and videos like never before. For moments you’ll keep looking back on forever.

More pixels. Larger sensor. Amazing results.

With a megapixel count of 20.7 and a sensor that’s 30% larger than the standard smartphone, the Xperia Z2 Android phone is on a par with our compact digital cameras. The results are super crisp and super sharp images.

Videos four times sharper than Full HD

With the Xperia Z2 you can record in world class 4K video, allowing you to relive that special moment in amazing, ultra-high definition.

Hear only what you want

A crammed train. An airplane full of weekly commuters. Or the office at its busiest.This Android phone comes with stereo speakers and noise cancelling technology, so you can enjoy clear and loud music wherever you are, with an elegant pair of headphones like MDR-NC31EM.

A cinematic experience. In your pocket.

Feel like you’re part of the action thanks to the large, high-resolution 5.2” Full HD screen that features the world’s first Live Colour LED display.

Always ready for the unexpected

Switch songs with wet fingers in the pouring rain. This highly durable Android phone is both waterproof and dust resistant. So go ahead and enjoy it whenever, wherever.

So fast, it’ll have to wait for you

Lag-free UI. Stutter-free browsing. And zero loading time. The latest Quad-core processor gives you an Android phone that offers an unbeatably fast and smooth user experience – all while offering outstanding battery life.

Loaded with tons of apps

From Timeshift video that lets you record video and apply slow motion effects, to Background Defocus that lets you take photos with gorgeous blurring. The Xperia Z2 comes with an impressive range of innovative camera apps. All to enrich your camera experience to the fullest.

NOKIA ANDROID X COMING TO INDIA MARCH 15TH

New Delhi: Nokia has announched the launch date of its newest phone ‘Nokia X’ Android smartphone which will be available in Indian market from the 15th of March, as the Finnish firm takes head-on the likes of Samsung and Micromax to grab a share of the burgeoning affordable smartphone market.

The smartphone priced at Rs 8500, is a four inch touchscreen dual SIM handset loaded with Android's Jellybean OS a dual core 1 GHz processor, 3MP rear camera and 512 MB of RAM and memory expandable up to 32GB. The phone come pre-loaded with apps like Maps, Mixradio, facebook and twitter.
As per the Nokia webiste, Nokia X also introduces to an all-new customisable home screen in which one can customise as per requirement. Resize and rearrange apps with resizable tiles, group apps into folders and get Android widgets for the things that a user may require frequently.

The Finnish firm, whose handset business was bought by Microsoft last year, had unveiled its Nokia X range of smartphones Nokia X, Nokia X+ and Nokia XL - powered by Google’s Android operating system at the Mobile World Congress in Barcelona on the 24th of February.

The copmpany said Nokia X will be rolled out (prices starting at €89 or about Rs 7,500) in Asia-Pacific, Europe, India, Latin America, the Middle East and Africa. The Nokia X+ and Nokia XL are expected to launch in these markets starting early second quarter, priced at €99 (Rs8,300) and €109 (Rs9,200), respectively.

The phones are not pure Android phones but run a variant of Android. Nokia has taken the open-source elements of Android and added elements of Asha and Microsoft’s Windows Phone to offer its users a different experience.
Nokia X has already been launched in Malaysia for 399 Malaysian ringgit (about Rs 7,500).

WIZKID AND SON - "TRUE OR FALSE"

Rumors have it that this is the son of the popular nigerian musician, How true is it?.......

GUYS MEET WIZKID PARENTS

Guys, meet Wizkid's wonderful parents, Mr & Mrs Balogun, the two people that birthed the wonder kid that has taken the world by surprise. This picture was taken at a party they all attended today. Wizkid's daddy, Mr Balogun turned 70 last year. I don't exactly know how old his mum is. But all the same, what more can a parent wish for her kids.

Also read the beautiful message Wizkid shared with this picture of his parents on Instagram

WIZKID FT SAEON'S RELEASE "BOGGIE DOWN"

Following the success of her song, “Bust my Brain” featuring General Pype, singer Saeon comes harder with a new single “Boogie Down” which features Wizkid.
This brilliant piece of work started with Saeon & Wizkid throwing funny lines at each other and upon hearing them, Maleek Berry laced his magic on a beat to complement their melodies. It is safe to say this hit song will be embraced by the Nigerian majority.
According to a representative of Saeon, this was definitely a brilliant union between the iCirculate & StarBoy camps. We officially present to you “Boogie Down” by Saeon featuring Wizkid. Produced by Maleek Berry.

LATEST ON THE UKRAINE ISSUE

The Ukrainian Paralympic Committee has confirmed that their team will compete at the Sochi 2014 Paralympic Winter Games.
The decision was announced by Ukrainian Paralympic Committee President Valeriy Suskevich at a press conference just hours ahead of the Opening Ceremony at the Fisht Stadium.
Sir Philip Craven, President of the International Paralympic Committee (IPC), said: "We are delighted by Ukraine's decision as we want sport to prevail and a full complement of teams to compete in what we are confident will be a fantastic Paralympic Winter Games.
"All week the IPC has been working closely with the Ukrainian Paralympic Committee in an effort to keep them here in Sochi.
"The talking point of Sochi 2014 needs to be great sport and great athletes, not global politics."
12.10 Ukraine border guards say 30,000 Russian troops now on Ukrainian territory, according to Reuters citing Ukraine's Channel 5.
_{A Russian Mi24 military helicopter flies over the Russian navy seagoing armament transport 'General Ryabikov' in the harbour of Sevastopol. PHOTO: AFP / GETTY}
11.03 Roland Oliphant reports:

Ukraine's UNN news agency is reporting that Dmitry Yarosh, the head of the far-right paramilitary group Pravy Sektor, intends to run for president.
"Pravy Sektor is revolutionary and remains at the avangarde of the revolution, although fighting with revolutionary methods no longer makes sense," the agency quoted Mr Yarosh's deputy Anderei Tarasenko as saying, explaining the decision.
Pravy Sektor - Right Sector in English - emerged in the early stages of the pro-European protest movement as an alliance of far right groups who believed Viktor Yanukovych would only be evicted by force. They played a prominent role in street fighting in January and February, and Mr Yarosh won a lot of respect even amongst ordinary protesters for what his followers' did on the barricades.
But the group's far-right ideology and subscription to the doctrine of Stepan Bandera, a mid-20th century Ukrainian nationalist insurgent leader considered a Nazi collaborator by many ethnic Russians, makes him a toxic candidate in the east of the country.
He has become a hate-figure in Crimea, where many ethnic Russians have denounced the revolution in Kiev as a fascist coup, and self defence groups have set themselves up to fight what they say are Yarosh's plans to send his men south to cleanse Crimea of Russians.
So far there has been no sign whatsoever of Pravy Sektor or other ultra-nationalists coming anywhere near Crimea.
_{Angela Merkel, left, meets Yulia Tymoshenko, second right, and Vitali Klitschko in Dublin. PHOTO: EPA}
10.29 Ukraine has decided not to boycott the Winter Paralympic Games, that begin tonight in Sochi.
Ukraine's Paralympic chief, Valeriy Sushkevich, said that he asked Vladimir Putin to ensure there would be peace during the Games and that his team would not pull out over events at home:
I repeated my one request, the one and most important request, that before and during (the Games) there will be peace.
10.09 The Kremlin claims there is "no understanding" of Vladimir Putin's position on Ukraine. The Russian president's spokesman Dmitry Peskov said:
Regardless of all the efforts of our president, his readiness to explain Russia's position practically on a daily basis, we still hit a wall of no understanding.
It is rather sad and what is worse is that it is very bad from the point of view of possible repercussions.
_{Armed men, believed to be Russian soldiers, march outside the Perevalnoye military unit. PHOTO: EPA}
09.43 Russia's lower and upper houses of parliament have pledged to vote into law the result of a "historic" March 16 referendum in Crimea on whether to become Russia. The EU and US state the decision is "illegal".
The heads of Russia's two houses of parliament indicated President Vladimir Putin's resolve by announcing that Moscow intended to respect Crimean MPs' decision to renounce ties with Ukraine and stage a March 16 referendum on switching over to Kremlin rule.
We will respect the historic choice of the people of Crimea. We support the free and democratic choice of the population of Crimea.
_{The US Navy guided-missile destroyer USS Truxtun sets sail in the Dardanelles straits towards the Black Sea. PHOTO: REUTERS}
09.33 The Ukraine crisis has highlighted China's muddled foreign policy, according to an interesting AFP analysis:
"Welcome to the real world," said Kenneth Lieberthal, a China expert and senior fellow at the Brookings Institution in Washington.
"China by now has global interests but is not a global strategist or global player...(it) is not the one that initiates and tries to drive the outcome," he said.
Although China aspires to greater global standing, it pursues narrow goals overseas as long as its core concerns are not involved, letting its ally and fellow UN Security Council member Russia take the lead on crises such as the conflict in Syria while it zeroes in on business deals in Africa and elsewhere.
Its foreign ministry tends towards non-specific bromides, urging "calm" here, "restraint" there and a "political solution" elsewhere.
09.04 The speaker of Russia's upper house of parliament, Valentina Matviyenko, says Crimea's parliament has the right to hold a referendum on the region's future status:
Yesterday we learned about the historic decision taken by the Crimean parliament to hold a referendum on accession, on entry into the Russian Federation.
Without a doubt, the Crimean parliament, as a legitimate authority, has that right ... The sovereign right of the people to determine their future.
09.03 Video of Barack Obama speaking yesterday evening on Russia sanctions:
09.02 Crimea has reportedly terminated the broadcasting of Ukraine national televsion.
09.01 The Telegraph's Roland Oliphant reports from parliament building in Simferopol where Cossacks stand guard outside as politicians decide to hold a referendum on whether Crimea should become part of Russia:
09.00 London (GMT), 11.00 Kiev (EET), 13.00 Moscow (MSK), 01.00 Washington (PST) Good morning and welcome to our live coverage of the Ukraine crisis.