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Copyright Commission Partners Booksellers to Sanitise Book Business

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A Code of Ethics for Booksellers will soon be introduced by Nigerian Copyright Commission (NCC) in consultation with relevant stakeholders to bring sanity to book business in Nigeria.

Copyright Commission Partners Booksellers to Sanitise Book Business

Mr. John O. Asein, director-general of NCC, who revealed this during a virtual launch of The Nigerian Booksellers E-Directory 2021 published by the Booksellers Association of Nigeria (BAN), on March 24, , signaled that the Commission would intensify efforts at checking the sale of pirated books through physical and online outlets.

The director-general who was chairman at the book launch, stated: “It is now time to separate the wheat from the chaff and encourage legitimate booksellers while weeding out the criminals who, as charlatans in this field have brought so much disrepute to the trade”.

He charged booksellers and other stakeholders in the book industry to adhere to rules and regulations guiding the book trade and its distribution channel in the country.

He also expressed hope that the industry would continue to promote peer to peer regulation and internal control measures to complement Government effort.

Mr. Asein commended the launch of the Booksellers Directory as a welcome catalyst in the Commission’s effort to develop a reliable database of practitioners in the different copyright-based industries.

“As part of our broader enforcement strategies to arrest copyright piracy in Nigeria, the Commission has adopted a multipronged approach, focusing on the different players and subsectors in the value chain. We are talking with authors, publishers, printers and of course booksellers. Booksellers are often the face of the book industry. They interface directly with buyers and ultimately play a very critical role in guaranteeing that the customer purchases a genuine copy of the book”, he noted.

He expressed concern that among the legitimate booksellers were also pirates, importers and distributors of pirated materials. He indicated that to stem the level of book piracy, the Commission has intensified its surveillance of booksellers in the open markets, business premises, airports, hotels, online platforms, and on the streets, adding that the sale of pirated books in any of those outlets would, henceforth, be met with the appropriate response.

He advised all booksellers to always have proof of purchase and ensure that they patronise only credible outlets as the Commission would hold them responsible for any infringing material found in their stock.

He reminded the audience that the Commission was already engaging with Abuja Environmental Protection Board (AEPB) to rid the streets of hawkers of books and other copyright materials, many of them pirated.

That intervention, he added, was in addition to the ongoing discussions with right owners about the use of antipiracy devices to help members of the public better identify genuine copyright works.

Expressing worry at the threat of piracy to the nation’s bourgeoning creative industry and the impoverishment of authors, the Director-General commended the Nigeria Customs Service (NCS) for the success recorded so far in checking illicit importation of infringing copyright materials.

He, however, noted that more still needed to be done as available intelligence showed that many container loads of pirated books still find their way into the country.

According to the director-general, the Commission would continue to collaborate with BAN to promote professionalism and encourage legitimate booksellers in order to allow publishers recoup their investment, reward authors and significantly improve on the contribution of the book sector to the nation’s economy.

“This is particularly needful with the challenges faced in the industry as a result of the COVID-19 pandemic”, he added.

He added that the Commission would be working with the Association and other major stakeholders to deploy appropriate safeguards and regulatory interventions to help the industries recover speedily from the pandemic.

Calling for a change in the way practitioners carry on book business in Nigeria, Mr. Asein urged other major stakeholders in the copyright industry to publish similar directories to help identify legitimate practitioners in their respective sectors.

He observed that the Booksellers’ Directory would assist in raising the standard of book trade in the country and provide a credible source of information for publishers, schools, libraries, members of the public and those that would require the services of a bookseller.

“It would also provide the needed trade information and promote access to Nigerian books from outside the country”, he emphasised.

Earlier, Mr. Dare Oluwatuyi, president of BAN, noted that the directory, a compendium of contacts and addresses of genuine booksellers across the 36 States of the Federation and the Federal Capital Territory (FCT), was one of the Association’s projects initiated to reorganise the sector to serve the public better.

Welcoming stakeholders to the forum, Mr. Oluwatuyi said the Association would continue to update the directory while also working to sanitise and boost the book trade in the country.

He expressed appreciation to the Commission and its various stakeholders for their support and contribution to the regulation of the sector.

Among over 70 CEOs and stakeholders that participated in the webinar, many commended the BAN initiative in launching the e-directory.


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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

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Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos, on Tuesday, March 3, 2026, arraigned two bank officials, Bakare Oladimeji Surajudeen and James Olukayode Imokwede, over an alleged $306,667.81 and €50,250 fraud before Justice Ismaila Ijelu of the Lagos State High Court sitting in Ikeja.
EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

EFCC

The defendants, who are both top officials of FSDH Merchant Bank Limited, were arraigned on a 10-count charge bordering on alleged stealing and retention of stolen property to the tune of $306,667.81 and €50,250.
The petitioner, FSDH Merchant Bank Limited, alleged that an internal audit uncovered unauthorized debits totaling $306,667.81 and €50,250, equivalent to N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), from its Letters of Credit (LC) payable accounts.
Investigations revealed that the defendants processed fraudulent transfers through the SWIFT platform to third parties.
One of the counts reads:
“That you, BAKARE OLADIMEJI SURAJUDEEN and JAMES OLUKAYODE IMOKWEDE, sometime in 2021 in Lagos within the jurisdiction of this Honourable Court, dishonestly took the sum of N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), property of FSDH Merchant Bank Limited.”
Another count reads:
“That you BAKARE OLADIMEJI SURAJUDEEN AND JAMES Olukayode Imokwede sometime in 2021 in Lagos within the jurisdiction of this Honourable Court dishonestly took sum of $306,667. 81 (Three Hundred and Six Thousand, Six Hundred and Sixty Seven dollars, Eighty one cents) property of FSDH Merchant Bank Limited”.
The defendants pleaded “not guilty” to all the charges preferred against them.
Following their pleas, prosecution counsel, H. U. Kofarnaisa, asked the court for a trial date and also prayed that the defendants be remanded in a Correctional facility pending trial.
Counsel to the first and second defendants, Oluwaseun Akintunde and Olajide S. Onasanya, informed the court that bail applications had been filed on behalf of the defendants and also urged the court to grant them bail on liberal terms.
They also prayed that the defendants be remanded in the EFCC custody pending the perfection of their bail conditions.
The prosecution counsel, however, opposed the prayers of the defence seeking the remand of the defendants in the EFCC custody, saying that “the EFCC detention facilities are overstretched.”
After listening to both parties, Justice Ijelu granted the defendants bail in the sum of N2 million each, with two sureties in like sum.
The court ordered that one of the sureties must be a relative, who is gainfully employed.
The sureties must provide evidence of tax payment in the last three years and must show proof of livelihood, with their residences verified.
The defendants were ordered to deposit their international passports with the court, and must not travel outside the country without the leave of the court.
The judge subsequently remanded the defendants in a Correctional facility pending the perfection of their bail conditions.
Justice Ijelu adjourned the matter till March 25, 2026, for the commencement of trial.

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AfDB Supports Francophone Africa Start-ups with €6.5M

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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.


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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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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.

Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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.


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