News
Censors Board Task Force Arrests Piracy Suspects at Alaba
Three men suspected to be pirates of film and musical works were, early Monday morning arrested in a raid carried out by the newly inaugurated task force on uncensored and unclassified movies by the National Film and Video Censors Board (NFVCB).
The raid, led by Mr. Gabriel Okoye, aka Igwe Gabosky, notable marketer and member of the task force, took place at the popular Alaba market, leading to the seizure and confiscation of films and replicating machines estimated to be worth over N50million.
The suspects were then taken to Area E Police Station Festac Town, Lagos, where they were being interrogated.
While journalists wait for the arrival of the suspects at Area E Police Station, a member of the task force, Nobert Ajaegbu told The Nation reporter that the movement was being delayed because “the market union has been raising all sorts of money to bribe and frustrate the process. But, we are adamant,” he said
“As I speak, there is still contributions ongoing at Alaba,” he added.
Some of the movies that were seized include titles such as ‘Ayamma’, ‘Wedding Party’, ‘Three Wise Men’, ’30 Days in Atlanta’, ‘A Trip to Jamaica’, ‘Lekki Wives’, ‘Wives on Strike’, ‘Jennifer’s Diary’, and ‘Fifty’.
The suspects include, he said, include Ndu Celestine, Okechukwu Ikuagwu, and Austine Ugokwe.
Members of the task force were said to have swept on the suspects at about 1.30am on Monday.
The special taskforce was constituted by the NFVCB in June, to checkmate the upsurge of unlicensed and unclassified movies in the country.
The move was one of the steps taken by Alhaji Adedayo Thomas, new Executive Director of the Board, , who assumed office barely six months ago.
The feat, according to many, was a subtle approach to minimize piracy of intellectual property in Nigeria.
Inaugurating the 8-man taskforce at the Ikoyi office of the agency, Thomas said the reconstituted national taskforce against unwholesome movies, was one of the mandates given him by President Muhammadu Buhari “to revitalize the dying dreams of the founding fathers of the film industry, whose shear efforts brought the sector to phenomenal limelight, but have so far recorded pains and tears as a result of the sabotaging works of people bent on crippling the industry.”
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
NAICOM Signs MoU with BPP to Deepen Insurance Compliance in Public Procurement
FG Approves GIS-enabled Digital Postcode to Tackle Logistics Gaps, Boost E-commerce
Firm Enhances its Security Awareness Platform with SCORM and PDF Support
AfDB Approves €6.5m for Tech Startups
GSMA, African Operators, Others to Launch Low-cost 4G Devices
Dr. Cairo Ojougboh Foundation Bolsters Nigeria’s Education Drive with ₦2.7m Student Support
Kaspersky Brings more Transparency to Threat Detection with New Hunt Hub
NDPC Commits to Balancing Data Privacy, Protection Information
OADC Lagos Reinforces Commitment to Local Data Hosting and Digital Transformation @ NDPC’s National Privacy Week Summit
PwC Reveals AI Scaling Gap Slows Africa’s Digital Transformation
Telecom3 days agoSunil Bharti Mittal Conferred GSMA Lifetime Achievement Award for Transforming Global Telecommunications
Telecom3 days agoWhy Digital Trust Matters: Secure, Responsible AI for African SMEs?
E-Business3 days agoJumia Tech Week 2026 Begins with Tech Deals on Smartphones, Electronics, and Everyday Technology
General News3 days agoKrishnan Exits Africa Data Centre to Embark on Professional Chapter
E-Financial2 days agoNRS Targets N40trillion in Tax, Royalty Revenue in 2026
News3 days agoAfDB Supports Francophone Africa Start-ups with €6.5M
E-Business3 days agoHouse Queries NDIC: ₦5m Max Payout for Failed Bank Depositors
Telecom3 days agoHouse Probes Fintech Regulation via Public Hearing on New Commission Bill