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FG commends Heritage Bank commitment to entertainment industry

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Federal Government has commended Heritage Bank Limited, Nigeria’s Most Innovative Banking Service Provider, for its commitment to the development and growth of the creative industry.

The Minister of Information and Culture, Alhaji Lai Mohammed gave the commendation at a two-day Creative Nigeria Summit held in Lagos recently with the theme: Financing the Film, Television and Music Industries; which was co-sponsored by the Bank.

He remarked that the conference which was jointly organized by the Federal Ministry of Information and Culture and the Think Tank Media and Advertising was to take the industry into a golden era with smooth access to short and long term financing, world class management and local and international distribution.

In a plenary session on Alternative Sources of Financing for the Creative industry, Mr. Dike Dimiri, Acting, Chief Risk Officer of Heritage Bank, articulated some issues that have continue to plague the entertainment industry over the years.

According to him, the industry is being hindered by lack of infrastructure such as studios, equipment and talented manpower, adding that at a time when some international universities are offering cinematography as a course in mass communication, Nigeria’s educational system is still skewed towards the print industry which is dying rather than electronic industry that is widening, so there is deficiency that needs to be corrected.

Other issues he cited as hindrances to the creative industry are legal framework around which the industry runs its business, especially how intellectual property is protected as well as the right type of finance for the industry.

The Chief Risk Officer also touched on the need to have value chain in the industry, instead of one person being involved in every stage of the business as well as the need for operators to package their works into libraries and use them as collaterals to access money from banks.

Dimiri said Heritage Bank was committed to the development and growth of the entertainment industry because one of the easiest ways to solve the unemployment issue in the country is to get as many people as possible involved in the entertainment industry, because manufacturing, banking and other sectors cannot do it alone.

He said the music industry has done so much for Nigeria in terms of employment and foreign exchange earnings and if more resources could be put into it and also de-risk it, the country would be better for it.

Dimiri said Heritage Bank was therefore concerned on how to find a framework through which it could get funding to the players in the industry.

The two-day summit attracted who is who in the industry and the Minister of Information and Culture, Alhaji Lai Mohammed announced the establishment of a $1 million venture capital to boost the industry.

He said the Federal Government has held discussions with about 20 foreign/local investors who were expected to invest a minimum of $50,000 each to raise the $1 million, adding that five investors have already indicated interest to invest $50, 000 each and expressed the hope that more were also expected to show their firm commitment in due course.

The minister said the $1 million venture capital would provide seed money for young and talented Nigerians to set up businesses in the creative industry

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IBEDC records 1,459 energy theft cases in January, February

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The Ibadan Electricity Distribution Company said it has recorded 1,459 cases of energy theft by its subscribers between January and February 2024.

This was disclosed in a press statement signed by the firm’s Chief Key Accounts Officer, Mr. Johnson Tinuoye, on Tuesday.

IBEDC added that it is actively pursuing investigations and legal actions against individuals and businesses involved in the theft in collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences.

Identifying the cases, IBEDC said they included various offences such as meter bypass and illegal meter tampering, which resulted in significant financial losses amounting to hundreds of millions of naira for the company.

The statement read, “We want to send a clear message to our customers that energy theft will not be tolerated. Our collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences underscores our commitment to ensuring a fair and just electricity distribution system.

“Energy theft not only undermines the integrity of our operations but also deprives IBEDC of the revenue necessary to provide quality services to our customers.”

Tinuoye emphasised that under the Electricity Act, energy theft is now recognised as a criminal offense, carrying severe penalties including imprisonment stressing, “In the Osun region, two individuals were apprehended for stealing energy through meter bypass and illegal connections. Their cases have been formally charged in court for prosecution.”

IBEDC further urged customers to refrain from engaging in any form of energy theft, emphasising that the consequences can be severe, as there is no room for negotiation with the SIPTEO Task Force team, which is actively patrolling and investigating instances of energy theft for prosecution.

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Copyright Breach: NCC Drags MTN, Others To Court Over Musician’s Works

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The Nigerian Copyright Commission (NCC) has filed criminal charges against MTN Nigeria Communications Ltd. and four others over alleged copyright infringement.

The charge with number FHC/ABJ/CR/111/2024 filed in the Abuja Division of the Federal High Court was obtained by journalists on Monday.

News Agency of Nigeria (NAN) reported that the four other defendants in the case include the chief executive officer of MTN Nigeria, Karl Toriola; Nkeakam Abhulimen, Fun Mobile Ltd.; and Yahaya Maibe.

In the three-count charge, NCC alleged that the defendants, between 2010 and 2017, “offered for sale, sold and traded for business’’, infringed the musical works of an artiste, Maleke Idowu Moye, without his consent and authorisation.

The commission alleged that the defendants used musical works and sound recordings of Mr Maleke with subsisting copyright as caller ringback tunes without the authorisation of the artiste.

The musician’s musical works and sound recordings allegedly infringed upon included 911, Minimini-wanawana, Stop Racism, Ewole, 911 instrumental, Radio, Low Waist, and No Bother.

The defendants were also alleged to have distributed the musical works to their subscribers without authorisation, thereby infringing on the rights of the artiste.

In the third count, the defendants were alleged to have in their possession, other than for their private or domestic use, the artiste’s musical works and sound recordings.

According to NCC, the alleged offences are contrary to and punishable under section 20 (2) (a) (b) and (c) of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

The case has yet to be assigned to any judge, and no date has been fixed for the mention.

Meanwhile, no official statement has been released by any of the defendants as at the time of filing this report, while all efforts to get reactions from MTN by New Telegraph proved abortive.

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LASG, LCC ANNOUNCE REOPENING OF LEKKI CONSERVATION CENTRE AFTER REPAIRS

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Following the completion of extensive routine maintenance works on the Lekki Conservation Centre (LCC), the Lagos State Government and the Management of the Centre have announced that the Walkway will be reopened for public use with effect from Friday, 29th March 2024.

The Special Adviser to the Governor on Tourism, Arts and Culture, Mr. Idris Aregbe confirmed this on Friday during a visit to the Centre in Lekki alongside some officials of the Ministry.

Aregbe said that he was happy to see that all repairs and renovations on the facility, including the Walkway, have been completed and would be accessible for tourism during the Easter celebration.

The Special Adviser appreciated Lagosians and tourists across the world for their patience during the thorough maintenance works carried out at the Centre in Lekki.

The Director-General of the Centre, Prof Mathew Onoja also appreciated the State Government for its intervention following the viral video, which first circulated in December as well as the swift response and efforts towards making the repairs and renovations seamless.

He noted that the Centre being a major tourism asset in Lagos State has played host to tourists from all over the world as it offers a serene environment for nature tourism and also boasts of the longest canopy walkway in Africa.

Recall that the facility has been undergoing routine maintenance since January following apprehensions arising from the damaged section of the Canopy Walkway, which had been repaired before the viral video was posted on social media platforms.

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