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Saturday, March 21, 2020

Sekibo advocates legislation to boost funding for creative industry

The Managing Director/ Chief Executive, Heritage Bank Limited, Mr Ifie Sekibo has called for appropriate legislation that will enhance the flow of funds to the creative industry and help maximise the potential of operators in the industry.
Sekibo made the call while speaking on the contributions of Heritage Bank to the creative industry, according to a statement.

“Financial institutions will be able to invest more if there is a proper law militating against piracy; there will be value for your moneyand creativity, thereby making the banks to want to invest more in the creativity industry,” he said.

He noted that collaboration between the government and banks was needed to maximise the potential of the creative industry.

Sekibo stated, “We need to push government to be able to create legislations and policies that will enhance this seeming passion and turn it into business opportunities and by so doing, it will turn to economic and empowerment of our people. There is a lot we need to do as banks and government so that we can enhance creativity in terms of culture.

“Government policies are extremely important in achieving this. If there are no proper policies, funding becomes a problem. And the collaboration between banks and government is needed to define what kinds of policy and funding need to applied. These and many more are things to look at critically.

“Take for example, a Nollywood script writer that has no proper propriety or intellectual property law protecting his script, he is unable to monetise it. But if there is proper government policy, then he is able to take it to the bank and monetise it and he is able to grow the industry. This cuts across, even if it is an artist, and there is no law or policies guarding artworks; anybody can steal and sell his ideas anytime.”
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Friday, November 17, 2017

How to protect your bank cards from fraud

The risk of a fraudster accessing your bank account through the card you use at the ATM or a shop terminal is very real.
But there are a few simple steps anyone can take to minimise the risk of people accessing our accounts via cards. Here they are, according to

Check the machine
One of the most common ways a scammer will try to get access to your bank account is at the ATM. This is usually done by installing a ‘skimmer’ over the card reader, which captures the data on your card when you place it into the machine. The scammers then use that data to create a dummy card, which can also be used to access your account.

Skimmers can be extremely difficult to detect. Most are specifically built to blend in with ATMs so you often need to be actively looking for them to notice something is wrong. And, because you will still receive access to your funds even if your card passes through a skimmer, there are few advance warning signs that your account will be compromised.

So before you place your card into the card reader, always check an ATM for any signs of tampering, including scratches and mark; Anything that looks out of place, for instance different coloured plastic around the card slot; Anything that moves when it’s pushed (ATMs are built well and don’t usually have loose parts).

If you notice anything suspicious, report it to the financial institution that owns the ATM and use another machine.
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Friday, September 22, 2017

FMN lists N20.11bn bond on NSE, FMDQ

Flour Mills of Nigeria Plc has listed a N20.11bn bond on the Nigerian Stock Exchange and the FMDQ OTC Plc.
The Group Managing Director, Flour Mills, Mr Paul Gbededo, while speaking at the listing programme in Lagos on Friday, said the N10.11bn Series 1 and N10bn Series 2 senior unsecured fixed rate bonds were issued under its N70bn bond issuance programme.

He said the transaction was strongly supported by the institutional investor community and oversubscribed by 190 per cent within the price guidance.

According to Gbededo, the Series 1 bonds are priced at 15.50 per cent for a tenor of three years with bullet repayment at maturity, while the Series 2 bonds are priced at 16 per cent for a tenor of five years with a one-year moratorium on principal payment and an amortising profile.

He noted that the proceeds of both issuances were used entirely to refinance existing debt obligations of the company and streamline its maturity profile.

He said, “Notwithstanding declining market conditions with a five-year benchmark yield rising from a record low of 10.45 per cent at the start of the year to 15.45 per cent high in September, the success of the transaction was largely due to the momentum created during the well-attended investor roadshow meetings in Lagos and Abuja.
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Friday, September 15, 2017

Housing corporations can help reduce accommodation problems — Experts

Experts in the built environment have said that if encouraged to grow, housing corporations could help to reduce the country’s homeownership problems.
They said that the housing corporations should be considered as critical part of the solutions especially for intervention in a formal rental housing tenure.

The Managing Director, Family Homes Fund, Mr Femi Adewole, stated that it had become crucial to give more attention to developing housing solutions targeted at up to 90 million Nigerians living on less than $1 per day as the population, equivalent to the whole of West Africa, was too large to ignore.

Adewole, who spoke at a national workshop of the Association of Housing Corporations of Nigeria,  said it had become necessary for stakeholders to recognise that the cost of investing in housing that would be affordable to all sections of the population was much lower than the cost of not investing or half -hearted approaches.
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Thursday, September 14, 2017

GOtv Boxing: Ganiyu targets upset against Joseph

African Boxing Unionlightweight champion, Otto “Joe Boy” Joseph, will have a torrid time at GOtv Boxing Night 17 on December 28, his opponent, Hammed “Ese” Ganiyu, has said.
Both boxers are scheduled to go against each other in a national lightweight challenge bout, one of the eight contests billed for the event, which holds at the Tafawa Balewa Square. The event will feature live musical performances by Burna Boy, Wande Coal, Teni da Entertainer, Daddy Showkey, TJ Classic and OJ Flamez.

“I have seen him fight many times and I know his strengths and weaknesses. He knows nothing about me. I will shock him and teach him a big lesson. He has been dismissive of my chances, but he will realise on that day that he has made a mistake,” Ganiyu said.

GOtv Boxing Night 17, the biggest ever edition of the show, will feature the World Boxing Federation intercontinental super featherweight title bout between Segun “The Machine” Wahab of Nigeria and Issa “Peche Boy” Nampepeche.

Also scheduled is an international middleweight challenge clash between US-based Nigerian, Oluwafemi “The Eagle” Oyeleye, and Victus Kemavor of Ghana.

Other bouts include a national light welterweight challenge between Olaide “Fijaborn” Fijabi and Yusuf Mufutau; and national lightweight challenges between current West African Boxing Union (WABU) lightweight champion, Rilwan “Real One” Oladosu and Mubarak Hamzat; and Ridwan “Scorpion” Oyekola and Nurudeen “Prince” Fatai.

Femi “Small Tyson” Akintayo will square up against Ebubechukwu “Coded Man” Eze in a middleweight contest; while OpeyemiAdeyemi will slug it out against Jamiu Dada in a bantamweight challenge.
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