Friday, May 10, 2019
Widespread attacks by armed gangs in Nigeria
There is a growing concern in northern Nigeria where violence has increased significantly. More than 100 people have been killed in the past month by armed gangs. What began as a conflict between farmers and cattle herders a decade ago has now turned into regular killings and kidnappings.
Tracking movie box office earnings to become easier in Nigeria
The latest boost local movie industries in Africa are getting is data.
Comscore, the US-based media analytics company known for providing box office measurement data, is expanding operations to nine African countries where it will “capture more than 95% of all revenue and admissions.” The company’s operations on the continent will focus on West and southern African countries including Nigeria, Ghana, Liberia, Namibia, South Africa, eSwatini, Zambia Mozambique and Zimbabwe.
As expected, Nollywood, Nigeria’s high-profile movie sector, has proven a big draw. With investment in cinema outlets spiking over the past decade (and with more on the way), movie earnings have grown steadily in tandem. And this growth has not been limited to Hollywood blockbusters as Nollywood hits are also earning big box office returns with an increased focus on quality rather than quantity.
But the rising box office earnings have also created the need for more accurate data on movie earnings in an industry that’s long had a culture of opacity. A long-running piracy problem has usually meant that it’s unclear how much profit, if any, filmmakers and producers earn. But with cinemas now opening up an important revenue stream in comparison to other existing earning models like DVD and VCD releases, the need for industry data is even more apparent.
While local bodies like the Cinema Exhibitors’ Association of Nigeria currently track box office earnings, they lack the credibility of a global independent player like Comscore. There has also been some skepticism from industry insiders who suggest that earnings by local Nollywood movies may be inflated especially as earnings are typically declared by filmmakers and production companies rather than independent box office data sources. Indeed, last December, Genevieve Nnaji, veteran actress and director of Lionheart, Netflix’s first original Nollywood film, accused local cinema chains of manipulating numbers to maintain a “false imagery of making box-office hits.”
While Comscore is currently focused only on West and Southern Africa, there’s a chance it might look farther across the continent as more investors make plays to build cinema infrastructure. For instance, Orange, the dominant telecoms player in the region has partnered with CanalOlympia, the cinema network owned by French media giants Vivendi, to open a chain of twenty 300-seater cinemas.
By Yomi Kazeem
Quartz
Comscore, the US-based media analytics company known for providing box office measurement data, is expanding operations to nine African countries where it will “capture more than 95% of all revenue and admissions.” The company’s operations on the continent will focus on West and southern African countries including Nigeria, Ghana, Liberia, Namibia, South Africa, eSwatini, Zambia Mozambique and Zimbabwe.
As expected, Nollywood, Nigeria’s high-profile movie sector, has proven a big draw. With investment in cinema outlets spiking over the past decade (and with more on the way), movie earnings have grown steadily in tandem. And this growth has not been limited to Hollywood blockbusters as Nollywood hits are also earning big box office returns with an increased focus on quality rather than quantity.
But the rising box office earnings have also created the need for more accurate data on movie earnings in an industry that’s long had a culture of opacity. A long-running piracy problem has usually meant that it’s unclear how much profit, if any, filmmakers and producers earn. But with cinemas now opening up an important revenue stream in comparison to other existing earning models like DVD and VCD releases, the need for industry data is even more apparent.
While local bodies like the Cinema Exhibitors’ Association of Nigeria currently track box office earnings, they lack the credibility of a global independent player like Comscore. There has also been some skepticism from industry insiders who suggest that earnings by local Nollywood movies may be inflated especially as earnings are typically declared by filmmakers and production companies rather than independent box office data sources. Indeed, last December, Genevieve Nnaji, veteran actress and director of Lionheart, Netflix’s first original Nollywood film, accused local cinema chains of manipulating numbers to maintain a “false imagery of making box-office hits.”
While Comscore is currently focused only on West and Southern Africa, there’s a chance it might look farther across the continent as more investors make plays to build cinema infrastructure. For instance, Orange, the dominant telecoms player in the region has partnered with CanalOlympia, the cinema network owned by French media giants Vivendi, to open a chain of twenty 300-seater cinemas.
By Yomi Kazeem
Quartz
Nigeria police publish guidelines on how to survive their checkpoints
Smile, be polite, and avoid fighting an officer. These are some of the tips to improve drivers' experience during a police roadblock in Nigeria, according to the force's Twitter account.
It is not clear what prompted them to share the 16 guidelines, but a recent embarrassing viral video of an officer hassling a driver at a checkpoint for a bribe might be behind it.
In it, an officer is captured asking for a bribe of 4,000 naira ($10; £7) because the initial offer was, according to him, not enough.
Such incidents have reportedly ended in motorists being shot dead after drivers refused to oblige.
The police do not address the issue of bribe solicitation in their "tips for safe and cordial relationship at checkpoints".
So, just in case you're wondering how to comply with the guidelines, here's what a motorist should do:
Slow down as you approach the checkpoint, ensure the car's interior lights are on, if it's at night, and keep your hands visible to avoid spooking police officers. Lowering the volume of the car radio would be greatly appreciated. The police also felt it was necessary to warn about the potentially fatal consequences of fighting an armed police officer.
Most Nigerians don't trust the police because they see them as unprofessional and corrupt, according to BBC Nigeria editor Aliyu Tanko.
They often complain about the ubiquitous checkpoints, which many feel have been set up purely to extort bribes.
Nigerian police are among the worst paid and ill equipped in the world, our reporter says.
The police, however, see bad interactions with the public as being a result of misunderstandings.
The guidelines are being seen as part of efforts by the police service to burnish its image. It comes after the police held a public engagement event on social media.
The reaction on Twitter to the police checkpoint guidelines has been mixed:
"As you've given us these tips. Also educate your officers on how to behave. Not when one follow these tips and at the end your officers start saying 'leave those talk', pay me and go'. Let's be guided and play our respective parts." @Shilorine
"The only thing missing here is what citizens should expect of policemen they meet on the roads. Do we not have any rights, or expectations of courteous service from people who are supposed to be providing service. It is all one way." @rotilaw
"Sir I am I highly impressed with this information and as you are informing and guiding us also try to inform your boys too". @_Tee90papi
"All the policemen along Abakpa to Nsukka road know me and can recognise my vehicle from miles away. Why? Whenever I see a check point, I slow down, hail the officer on duty, ask him how his day is going and tell him well done. I've never had an incident. They're human beings too" @crayziggy
BBC
It is not clear what prompted them to share the 16 guidelines, but a recent embarrassing viral video of an officer hassling a driver at a checkpoint for a bribe might be behind it.
In it, an officer is captured asking for a bribe of 4,000 naira ($10; £7) because the initial offer was, according to him, not enough.
Such incidents have reportedly ended in motorists being shot dead after drivers refused to oblige.
The police do not address the issue of bribe solicitation in their "tips for safe and cordial relationship at checkpoints".
So, just in case you're wondering how to comply with the guidelines, here's what a motorist should do:
Slow down as you approach the checkpoint, ensure the car's interior lights are on, if it's at night, and keep your hands visible to avoid spooking police officers. Lowering the volume of the car radio would be greatly appreciated. The police also felt it was necessary to warn about the potentially fatal consequences of fighting an armed police officer.
Most Nigerians don't trust the police because they see them as unprofessional and corrupt, according to BBC Nigeria editor Aliyu Tanko.
They often complain about the ubiquitous checkpoints, which many feel have been set up purely to extort bribes.
Nigerian police are among the worst paid and ill equipped in the world, our reporter says.
The police, however, see bad interactions with the public as being a result of misunderstandings.
The guidelines are being seen as part of efforts by the police service to burnish its image. It comes after the police held a public engagement event on social media.
The reaction on Twitter to the police checkpoint guidelines has been mixed:
"As you've given us these tips. Also educate your officers on how to behave. Not when one follow these tips and at the end your officers start saying 'leave those talk', pay me and go'. Let's be guided and play our respective parts." @Shilorine
"The only thing missing here is what citizens should expect of policemen they meet on the roads. Do we not have any rights, or expectations of courteous service from people who are supposed to be providing service. It is all one way." @rotilaw
"Sir I am I highly impressed with this information and as you are informing and guiding us also try to inform your boys too". @_Tee90papi
"All the policemen along Abakpa to Nsukka road know me and can recognise my vehicle from miles away. Why? Whenever I see a check point, I slow down, hail the officer on duty, ask him how his day is going and tell him well done. I've never had an incident. They're human beings too" @crayziggy
BBC
Tuesday, May 7, 2019
Candidates to head Central Bank of Nigeria
Nigeria’s central bank governor for the next five years will have to balance fighting inflation and propping up the currency against pressure to boost an economy that’s expanding slower than emerging-market peers.
Godwin Emefiele’s first five-year term ends in June and he could be reappointed. But with less than a month to go, the top post has also been linked to the regulator’s most senior female official and other potential candidates at institutional and development banks.
Below are some of the possible candidates to oversee monetary policy in Africa’s most-populous nation and largest oil producer. That is, unless President Muhammadu Buhari elects a governor that markets didn’t expect, as his predecessor did five years ago in Emefiele.
Godwin Emefiele
Since being appointed, Emefiele raised the key interest rate to a record high to contain price growth and bolster the naira, despite sluggish growth. His decisions to implement currency controls by restricting importers of around 40 items from buying foreign exchange, and his defiance of calls to devalue the naira, may be viewed favorably by Buhari, who’s keen to boost local production and wants a strong currency. The 57-year-old banker would want a second term if he is offered, a person close to the matter has said.
While Emefiele has forged a good working relationship with Buhari, no central bank governor has served more than one term since the end of Nigerian military rule in 1999.
Emefiele’s decision to float the naira and his reluctance until March to reduce interest rates while the Buhari government was pushing for looser policy to support its borrowing plans and stimulate the economy may count against him, Michael Famoroti, an economist and partner at Stears Business, said by phone from Lagos.
Aishah Ahmad
Ahmad was appointed by Buhari as deputy governor in March 2018 and oversees financial-systems stability. Her banking experience, at the former Diamond Bank Plc, Zenith Bank Plc and Stanbic IBTC Bank Plc, may be welcomed by business. At the January Monetary Policy Committee meeting she called for increased lending to small- and medium-sized enterprises. If picked for the post, Ahmad would be the first permanent female governor.
Ahmed Kuru
Kuru heads the Asset Management Corp. of Nigeria which was set up by the West African nation to buy bad debt following a banking crisis in 2009. AMCON’s books expanded rapidly during Kuru’s tenure as non-performing loans spiked after the economy contracted in 2016. If appointed, Kuru could boost the central bank’s focus on banking reforms and strengthening the financial sector.
Mansur Muhtar
Muhtar is a former Nigerian finance minister and was director-general of the nation’s Debt Management Office from 2003 until 2007. Currently a vice president at the Saudi Arabia-based Islamic Development Bank, he’s also served as executive director on the board of the World Bank, as co-chairman of the United Nations Inter-Governmental Committee of Experts on Sustainable Development Finance, and executive director at the African Development Bank.
By Solape Renner with assistance of PaulWallace
Bloomberg
Godwin Emefiele’s first five-year term ends in June and he could be reappointed. But with less than a month to go, the top post has also been linked to the regulator’s most senior female official and other potential candidates at institutional and development banks.
Below are some of the possible candidates to oversee monetary policy in Africa’s most-populous nation and largest oil producer. That is, unless President Muhammadu Buhari elects a governor that markets didn’t expect, as his predecessor did five years ago in Emefiele.
Godwin Emefiele
Since being appointed, Emefiele raised the key interest rate to a record high to contain price growth and bolster the naira, despite sluggish growth. His decisions to implement currency controls by restricting importers of around 40 items from buying foreign exchange, and his defiance of calls to devalue the naira, may be viewed favorably by Buhari, who’s keen to boost local production and wants a strong currency. The 57-year-old banker would want a second term if he is offered, a person close to the matter has said.
While Emefiele has forged a good working relationship with Buhari, no central bank governor has served more than one term since the end of Nigerian military rule in 1999.
Emefiele’s decision to float the naira and his reluctance until March to reduce interest rates while the Buhari government was pushing for looser policy to support its borrowing plans and stimulate the economy may count against him, Michael Famoroti, an economist and partner at Stears Business, said by phone from Lagos.
Aishah Ahmad
Ahmad was appointed by Buhari as deputy governor in March 2018 and oversees financial-systems stability. Her banking experience, at the former Diamond Bank Plc, Zenith Bank Plc and Stanbic IBTC Bank Plc, may be welcomed by business. At the January Monetary Policy Committee meeting she called for increased lending to small- and medium-sized enterprises. If picked for the post, Ahmad would be the first permanent female governor.
Ahmed Kuru
Kuru heads the Asset Management Corp. of Nigeria which was set up by the West African nation to buy bad debt following a banking crisis in 2009. AMCON’s books expanded rapidly during Kuru’s tenure as non-performing loans spiked after the economy contracted in 2016. If appointed, Kuru could boost the central bank’s focus on banking reforms and strengthening the financial sector.
Mansur Muhtar
Muhtar is a former Nigerian finance minister and was director-general of the nation’s Debt Management Office from 2003 until 2007. Currently a vice president at the Saudi Arabia-based Islamic Development Bank, he’s also served as executive director on the board of the World Bank, as co-chairman of the United Nations Inter-Governmental Committee of Experts on Sustainable Development Finance, and executive director at the African Development Bank.
By Solape Renner with assistance of PaulWallace
Bloomberg
Monday, May 6, 2019
Video - Nigerian fashion a source of national pride
Nigerian attires have come to be loved worldwide. They are not only fashionable, but also easy to spot anywhere. But the different Nigerian attires serve different purposes.
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