Friday, May 24, 2024

Binance executive collapses in court in Nigeria - Trial pushed to June

A Nigerian court on Thursday adjourned a money laundry trial against cryptocurrency exchange Binance and two of its executives to June 20 because one of the defendants was not well enough to stand trial.

Binance and executives Tigran Gambaryan, a U.S. citizen and head of financial crimes compliance, and British-Kenyan national Nadeem Anjarwalla, a regional manager for Africa, have been charged with laundering more than $35 million and engaging in specialised financial activities without a licence.

They have all pleaded not guilty to the money laundering charges.

Gambaryan, who has been in detention since February, is "very ill and requires comprehensive medical attention," his lawyer said in a letter to trial judge Emeka Nwite.

"The applicant broke down yesterday and the medical facility gave him intravenous treatment for malaria," the letter said.

Gambaryan, who also faces four counts of tax evasion alongside Binance and his colleague Anjarwalla, did not appear in court on Wednesday for that trial.

Judge Nwite ruled that Gambaryan should be treated at the hospital requested by his lawyer or any other recommended by prison authorities. He adjourned for the trial to continue on June 20 and 21.

Nigeria blamed Binance for its currency woes after cryptocurrency websites became the platforms of choice for trading the Nigerian naira as the country grappled with chronic dollar shortages and the currency fell to a record low. 

By Camillus Eboh, Reuters 

Related story: Nigeria rejects Binance CEO's bribery claim

Thursday, May 23, 2024

Video - Analysts say Nigeria not prepared for a shift from fossil-fuel vehicle

 

CGTN

Nigeria bans smoking, ritual killings in movies, music videos, skits

The National Film and Video Censors Board (NFVCB) Tuesday announced that it would henceforth restrict the depiction of smoking, ritual killings and money rituals in movies, music videos and skits.

NFVCB’s Executive Director, Shaibu Husseini, disclosed this in Enugu at a National Stakeholder Engagement on the “#Smoke-Free Nollywood” campaign, which was organised in collaboration with Corporate Accountability and Public Participation Africa (CAPPA).

Mr Husseini said the federal government would prohibit the depiction and glamorisation of smoking, violence, criminal acts, immoral acts, ritual killings and money rituals in Nollywood, Nigeria’s film industry.

He said the country faced a film “industry emergency requiring bold and ambitious actions” from parents, guardians, and stakeholders.

“Therefore, after a series of engagements, the NFVCB, in collaboration with CAPPA, decided to make Subsidiary Regulations to address smoking in movies since this aspect was not expressly spelt out in the extant Law.

“Today (Tuesday), I am delighted to announce to you that the Honourable Minister of Arts, Culture and the Creative Economy, Hannatu Musa Musawa, under Section 65 of the NFVCB Act 2004, has approved the “Prohibition of Money Ritual, Ritual Killing, Tobacco, Tobacco Product, Nicotine Product Promotion, Glamorization, Display in Movies, Musical Videos and Skits” Regulations 2024. We have forwarded the approved copy to the Federal Ministry of Justice for Gazette,” the official said.

Mr Husseini explained that the goal was eradicating smoking in movies and skits.

He added, “We will work with the industry to see how we achieve zero, completely smoke-free Nollywood.”

He identified the tobacco industry’s tricks to promote smoking but expressed confidence that the government was prepared to counter them.

Mr Hussein said: “Of recent, we realised that tobacco industries hide under the banner of entertainment to flaunt smoking. The NFVCB is well prepared to take leadership in this regard and has planned and begun implementing innovative ways to achieve its mandate, especially at this crucial time when the National Assembly is insisting that there is “Need to Curb the Rising Spate of Cultism, Trafficking, Consumption of Illicit Drugs and other Substances among Youths in Nigeria”.

“The Board had been urged to undertake detailed enlightenment programs in secondary schools, tertiary institutions, local communities, faith groups and other institutions, as well as impose restrictions on home movies promoting social vices.”

Participants at the event included veteran and top filmmakers, producers, scriptwriters, marketers, and distributors from across the country, such as Zeb Ejiro, Fred Amata, Segun Arinze, Bolaji Amusan, and The Aneke Twins, as well as leaders of various guilds and associations in the Nigerian film industry.
Smoke-free Nollywood

The participants affirmed their commitment to a pro-health Nollywood by signing a pledge to ensure a smoke-free Nollywood.

CAPPA’s Executive Director, Akinbode Oluwafemi, stressed the need for stakeholders to work towards a Smoke-Free Nollywood in the interest of a healthy future for Nigerian children.

Mr Oluwafemi said, “Shockingly, studies have shown that smoking remains prevalent in Nigerian movies in contravention of the NTC Act and the Tobacco Control Regulations 2019, which explicitly prohibits tobacco advertising, promotion, and sponsorships in movies and entertainment. There is also a clear provision for warnings that should accompany any tobacco depiction necessary for “Historical Accuracy and Artistic Expression.”

“With the power to tell the Nigerian story, shape our future, and build a genuinely productive society, Nollywood ensures that the growing concerns of non-communicable diseases in Nigeria are addressed. Movies and music videos must reverse the role they play in painting smoking and tobacco use as an excellent way of life.

“With more than five million young Nigerians aged 15 years addicted to smoking cigarettes, our job, not just as movie practitioners and industry experts but also as parents, is to rise to the occasion and act right to protect our children and prepare for a smoke-free future. We are at a point where we must stop the glamorisation of smoking and, instead, promote healthy lifestyles.”

In-Country Coordinator of Campaign for Tobacco-Free Kids (CTFK), Michael Olaniyan, who delivered a presentation titled “A Code of Practice for Smoking in the Entertainment and Plenary for Next Steps”, urged stakeholders to be careful not to breach the NTC Act while shooting movies.

He added that the Act demands the prohibition of avoidable/unnecessary smoking scenes, avoidable/unnecessary tobacco use of any kind, glamorisation of tobacco use, tobacco brand marking, tobacco product placements and sponsorship by tobacco companies, among others.

Consensus

The Nigerian Film Corporation (NFC)’s Managing Director/Chief Executive Officer, Ali Nuhu, backed the move to rescue “vibrant and energetic youths from the claws of smoking-related and early health challenges.”

Mr Nuhu, who was represented by the NFC’s Director, Public Affairs, Brian Etuk, lamented that most Nigerian youths have become victims of circumstances having taken to smoking habits, with consequential health challenges and damage to body organs.

“We must, therefore, use the power of film/movie to help address the gradual but avoidable drifts that are ultimately life-threatening.”

Concurring, Enugu State Commissioner for Culture and Tourism, Ugochi Madueke, noted the “incredible influence” Nollywood holds over public perceptions and behaviours and urged film industry professionals to promote public health by making movies smoke-free.

The Alliance Coordinator for the Nigeria Tobacco Control Alliance, Olawale Makanjuola, congratulated the NFVCB, adding, “We all know the role film, and most importantly, Nollywood, plays in our culture. For us, there is no better partner than the NFVCB and the creative industry in ensuring our screens remain smoke-free, thereby strengthening our public health infrastructures.”

By Jayne Augoye, Premium Times

Emirates set to resume flights to Nigeria after a two-year hiatus

Emirates is set to resume its services to Nigeria this October, after having suspended them back in October 2022. The airline will be operating a daily service between Lagos and Dubai from 1 October 2024, operated using a Boeing 777-300ER. Each day, flight EK783, will depart from Dubai 0945 and arrive in Lagos at 1520 local time, while flight EK784 will depart from Lagos at 1730 and arrive in Dubai at 0510 local time the next day. Each flight will have eight First class suites, 42 Business class seats, and 304 Economy class seats available, and among its in-flight dining and entertainment offerings, passengers will be able to enjoy at least 23 Nigerian movies on offer. Tickets are already available for booking now.

Adnan Kazim, Emirates’ deputy president and chief commercial officer, said, “We are excited to resume our services to Nigeria. The Lagos-Dubai service has traditionally been popular with customers in Nigeria, and we hope to reconnect leisure and business travellers to Dubai and onwards to our network of over 140 destinations. We thank the Nigerian government for their partnership and support in re-establishing this route and we look forward to welcoming passengers back onboard.”

Including the resumption of this flight route, Emirates will now serve 19 gateways in Africa, encompassing a total of 157 per week from Dubai plus an additional 130 through its codeshare and interline partnerships with South African Airways, Airlink, Royal Air Maroc, Tunis Air, among others.

As a major economic hub in Africa, Nigeria and the UAE have built strong bilateral trade relations over the years, headlined by Lagos as the nation’s commercial centre. With the resumption of daily passenger flights, the airline’s cargo arm, Emirates SkyCargo, will further bolster the trade relationship by offering more than 300 tonnes of bellyhold cargo capacity, in and out of Lagos every week. The latter will support Nigerian businesses by exporting their goods via its state-of-the-art hub in Dubai, into key markets such as the UAE, Malaysia, Hong Kong, and Bahrain, among others with key anticipated commodities such as Kola Nuts, food and beverages, and urgent courier material. Meanwhile, Emirates SkyCargo will also import vital goods such as pharmaceuticals and electronics as well as general cargo from key markets such as the UAE, India and Hong Kong, with the aim of keeping trade flowing seamlessly.

By Yi-Hwa Hanna, Business Traveller

Related story: Ban lifted on Nigerian Travelers to UAE After president Tinubu’s Visit

 

Warner Music to Expand Into Lagos, Nigeria

Warner Music Africa (WMA) is planning to establish a new creative hub in Lagos, Nigeria.

The move will mark the opening of Warner’s first fully-owned office in the market. WMA says that its expansion into Lagos will enable it “to provide more of its A&R, Operations and Marketing expertise to Nigeria’s creative ecosystem”.

WMA’s plans to expand in Nigeria arrive at a time of significant recorded music industry growth in the wider Sub-Saharan Africa (SSA) region.

According to IFPI, Sub-Saharan Africa (SSA) was the fastest-growing music region in 2023. It was also the fastest-growing music region globally in 2022.

Recorded music revenues in Sub-Saharan Africa grew by 24.7% in 2023, fuelled, according to IFPI, by a 24.5% rise in paid streaming revenues.

Ahead of the opening of its new office in Lagos, Warner Music Africa’s management team, including Alfonso Perez-Soto, President of Emerging Markets, Warner Music; Laverne Thomas, Operations Lead, WMA; Temi Adeniji, Managing Director, WMA, and Yoel Kenan, CEO, Africori, met with government officials in Nigeria’s capital, Abuja last week.

According to Warner Music Group, this “pivotal journey” saw the executives engage in meetings with key government officials to “establish crucial relationships and to bolster WMA’s mission of empowering Nigeria’s vibrant creative sector”.

During the Warner executive team’s visit last week, they met two senior ministers and the Special Advisor to the President of Nigeria.

Amongst them were: Minister Ayodele Olawande, Nigeria’s Minister of State For Youth Development, who provides insights into youth empowerment initiatives and holds a crucial role in the creative sector for national development. They also met with Minister Hannatu Musawa, the country’s Minister for Art, Culture, and the Creative Economy, and a prominent Nigerian lawyer and politician.

The WMG team also met with Adeagbo (Oluwadunsin) Ayomide, the Special Advisor to the President on Arts, Culture and the Creative Economy.

WMG says that its meetings in Nigeria underscore its “longstanding commitment” to the market.

In 2019, Warner Music Group invested in independent Nigeria-based music company Chocolate City in a deal that WMG said at the time will “dramatically grow the reach of African artists around the world, and will create new opportunities for global superstars in the region”.

In 2022, Warner Music Group acquired a majority stake in Africori, a prominent African music distribution, music rights management and artist development company which has offices in Johannesburg, London and Lagos.

WMG first invested in Africori in early 2020. The original deal gave WMG access to what it called “Africa’s largest catalog and A&R network”, as well as enabling WMG to establish a presence in many African markets for the first time. WMG’s publishing division, Warner Chappell Music, also inked a global deal with Africori in 2020.

In addition, the Warner Music Group / Blavatnik Family Foundation Social Justice Fund (WMG/BFF SJF) has contributed more than USD $400,000 to Nigeria’s creative sector via its Repertoire and Core Funds.

For example, it contributed $200,000 in 2022 to the West African Vocational Education and $150,000 in 2023 to The Sarz Academy which nurtures emerging talent in music production.

Meanwhile, WMG noted on Wednesday (May 22) that Temi Adeniji and Alfonso Perez-Soto’s leadership “has been instrumental in driving the success of Warner Music’s global artists in Africa and their local repertoire across the globe”.

According to WMG, they have played “a pivotal role” in signing and promoting superstar Nigerian artist CKay, whose viral single Love Nwantiti has achieved significant success, recently being certified 8x platinum in the US.

Additionally, WMA recently signed 26-year-old Nigerian singer-songwriter Joeboy, who has amassed 2 billion streams over the past five years.

As part of the deal, Joeboy has created his own record label, Young Legend which will partner with Warner Music Africa for global distribution of its artists’ music.

Earlier this week, Temi Adeniji, Managing Director at Warner Music Africa and Warner’s SVP of Sub-Saharan Africa, joined the MBW podcast to discuss the rise of music from Africa and more.

By Murray Stassen, MUSIC BUSINESS WORLDWIDE