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IP Expert Seeks Mandatory Copyright Registration, Whistle Blower Policy on Piracy
Nigerian Copyright Commission (NCC) has been urged to initiate a regulatory scheme for compulsory registration of copyright and a whistle blower policy to strengthen its renewed drive for enhanced copyright protection and effective anti-piracy enforcement in the country.
Dr. Abdullahi Saliu Ishola, an Intellectual Property (IP) lecturer and acting head of department of the College of Law, Kwara State University, Malete, made this call in Ilorin yesterday (6th November 2013) while delivering a guest lecture on NCC anniversary theme, “Changing the Copyright Narrative for Wealth Creation” as part of activities organised by NCC Kwara State Office in commemoration of the 30th Anniversary of the Commission.
Proffering some practical solutions towards changing the copyright narrative in Nigeria, Dr. Ishola stated that the Commission should initiate proactive measures to check the prevalence of piracy, engender positive attitude of copyright owners and enlist an active role for right owners in the copyright system.
Calling for a review of the Copyright Collective Management Organisations Regulations, he urged the Commission to invoke its discretionary powers in sections 38(1) and 39 of the Copyright Act to approve CMOs as its enforcement agents by appointing some of them as copyright inspectors.
According to him, “NCC should accredit NGOs as copyright activists like the Corporate Affairs Commission accredits lawyers, accountants and chartered secretaries to work for it as partners, relying on Section 45 of the Copyright Act which prescribes that the supervising minister can prescribe regulations for purposes of the Act”.
The senior lecturer opined that copyright registration should not be optional, adding that all educational materials “should be officially copyrighted so that when people want to study, the registered works will be a standard”.
He expressed concern that due to high cost, a lot of foreign books were being pirated and urged NCC to encourage foreign publishers to come and publish the Nigerian edition of their works in the country to reduce costs.
Noting that most authors were only interested in reputation, not really in wealth creation, he admonished NCC to introduce the ‘most economically viable copyright award’ to boost creative enterprise for national wealth creation.
Dr. Ishola who commended the NCC efforts at implementation of its mandates, canvassed for religious and cultural support for copyright, and underscored the need for awareness that Islamic law supports copyright through adoption of ‘waqf’ endowment for exploitation of religious works and creation of employment opportunities.
Chairman on the occasion, Prof. Olu Obafemi, represented by Prof. Abubakar Abdullahi, both of the Department of English, University of Ilorin (UNILORIN), in his remarks, emphasised that in order to change the copyright narrative for wealth creation in Nigeria, the scourge of piracy must be tamed.
Prof. Obafemi expressed concern that the copyright industry was not being adequately funded and decried the attitude of Nigerians in patronising cheap pirated works without minding the loss to copyright owners.
He noted that unduly long litigation constituted a drawback to the fight against piracy, adding that lack of incentive in the creative industry was a discouragement to creative enterprise in the country.
Mr. John O. Asein, Director-General of NCC, while appreciating the support of stakeholders in the State, reassured of the Commission’s partnership with the Kwara State Government and key players in the creative industry to enable a vibrant exploitation of the rich cultural endowments of the state, especially in the creative arts.
Mr. Vincent A. Oyefeso, Represented by the Director of Public Affairs, the Director-General stated: “Today, we are in the global era of knowledge economy and Kwara State can leverage on the copyright system to grow its state economy on a sustainable basis as well as contribute to the national economy. In this wise, NCC is committed to continue to partner with the State Government to attain its development goals, especially in the creative sector.”
He added: “The Commission is also committed to enhanced collaboration with all authors and stakeholders in the copyright based industry to change the copyright narrative for sustained and sustainable wealth creation and national development.”
In an earlier guest lecture, a Senior Lecturer in Faculty of Law, University of Ilorin, Dr. Kayode Adam, had noted that the current copyright narrative was inherited or borrowed from the British legal system, adding that Nigeria’s copyright policies should be based on its fundamental national values.
Commending the NCC for identifying the need for a new national copyright narrative, Dr. Adam stated that a new copyright narrative would serve three purposes, namely guide the adoption of a national copyright policy; assist judges in correct interpretation of our copyright law; help in creating awareness on Nigeria’s copyright values and law.
Honourable Awodiji Tayo Felix, Chairman of Kwara State House Committee on Land, Housing and Urban Development, in a goodwill message, assured that the State House of Assembly would support the Commission’s bid to review the Copyright Act in the interestof right owners and for sustainable development of the copyright industries and the economy.
Mr. Justina Akinwumi, NCC State Coordinator, in her welcome address, stated that the NCC 30th Anniversary celebration was an opportunity for the Commission and all stakeholders “to come together to assess and analyse the journey so far and chart a way forward for economic development through creativity”.
Nigerian Education Loan Fund (NELFUND) has said that Nigerian students will need to present their Unified Tertiary Matriculation Examination registration number (UTME); National Identification Number (NIN); and Bank Verification Number (BVN) to access student loans.
Mr Akintunde Sawyerr, managing director of NELFUND, assured that the body would ensure that those he called ‘ghost students’ would not have access to the soon-to-be-launched scheme.
The MD noted that NELFUND has put processes in place to ensure that all applicants and beneficiaries are traceable to prevent the loan from turning into a sort of national cake.
“We are using technology to run the system. The process of application is online and we are limiting human contact as much as possible. Once you have a Bank Verification Number, BVN and National Identification Number, NIN, which are parts of the requirements, we will have access to your data and all your accounts. This will also help us to know if you are qualified or not,” he explained.
He explained further that those who are already in school can apply for the loan at any level of their study, but must be at the beginning of each session. They would also have to provide their admission and matriculation details in addition to BVN and NIN.
According to the NELFUND boss, about 1.2 million Nigerian students in tertiary institutions and government-recognized skill acquisition centres would be among the first batch of beneficiaries. The number may increase as time goes on.
The programme, he noted, will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS), which will amount to N194 billion if the agency meets its projection.
He explained that the loan would be paid in two segments. The first, he said, is the chargeable school fees which would be paid directly to the institutions while stipend would be paid into individual student’s account for day-to-day upkeep.
Mr. Sawyerr stated that the amount individual applicants will access will vary because of the course of study, school fees payable and geographical location of the institutions among others.
On the method of payback, he said, “You don’t start paying back the loan until two years after your National Youth Service Corps, NYSC Scheme and that is, if you have secured a job or business. A beneficiary can defer repayment if he has not secured a job, but if after due diligence, he defaulted, then he becomes a criminal and we will work with every agency that can help us get the money back, for example, EFCC, ICPC etc.”
Sun International Limited, run by Anthony Leeming, South African entrepreneur, has agreed to sell its Nigerian interests to Rutam Finance Company Limited (RFC) for roughly $14.4 million.
The move is part of Sun International’s strategy to consolidate operations and focus on key markets. Sun International joined the Nigerian market in 2009, but has struggled in recent years due to a challenging operating climate.
This divestiture is consistent with the company’s strategic objectives and represents a shift in portfolio management.
Sun International, will sell a 43.3 percent ownership investment in Tourist Company of Nigeria PLC (TCN), which manages Lagos’ Federal Palace Hotel, to RFC for $1.875 million.
In addition, the group would pay off its whole $12.675 million credit to RFC, effectively exiting the Nigerian market. The corporation also intends to sell its remaining 6% ownership in TCN in due course.
The transaction, subject to customary closing conditions including as regulatory approvals, is estimated to create a cash inflow of about $14.41 million for Sun International.
These funds will be utilized to reduce debt.
Following the completion of the acquisition, TCN will no longer be included in Sun International’s financial statements.
This will reduce group debt by about $41.82 million, excluding IFRS 16 lease liabilities.
The closing is scheduled for no later than May 28, 2024, provided that all usual closing conditions are met. The Nigerian Competition Authority, the Securities and Exchange Commission, and the Nigerian Stock Exchange have all provided key clearances.
Sun International, founded in 1968 by the late Sol Kerzner, has grown into a renowned gaming and resort company under Leeming’s leadership.
In fiscal 2023, the company’s revenue increased by 7% to $646.14 million, while headline earnings increased by 86 percent to $55.35 million.
This demonstrates Sun International’s resiliency and strategic direction. Sun International’s pullout from Nigeria demonstrates the company’s dedication to streamlining its portfolio and pursuing growth possibilities in key areas.
With a rich history and a focus on the future, this transaction demonstrates the company’s commitment to create wealth for shareholders and stakeholders while also strengthening its position in the gaming and hospitality industries.
Sam Darwish, a US-Nigerian telecom entrepreneur, has experienced a huge financial setback in his holding in IHS Holdings following a recent drop in the shares of the top telecom infrastructure company on the New York Stock Exchange (NYSE).
Sam Darwish
According to data, Sam Darwish’s investment in IHS Holdings has lost $6 million in market value during the last 13 days. This drop reflects increasing selling pressure among NYSE investors.
From March 12 to 30, Darwish’s investment in IHS Holdings increased from $35.17 million to $49.27 million, resulting in a $14 million gain.
Darwish founded IHS Holdings in 2001, and it has since grown to become the largest telecom infrastructure business in Africa, Europe, Latin America, and the Middle East.
It is renowned for its huge tower count and is the world’s third-largest independent international tower firm.
In the last 13 days, IHS Holdings shares on the NYSE have dropped by 11.72 percent, from $3.67 on April 3 to $3.24 at the time of writing.
As a result, the company’s market capitalization has dropped below $1.1 billion, causing significant losses for stockholders.
As chairman and CEO of IHS Holdings, Sam Darwish holds a critical position in African telecom.
With a strong 4.17 percent ownership holding, equivalent to 13,958,158 ordinary shares, he is a key participant in the global telecom infrastructure business.
The recent double-digit loss in IHS Holdings shares has resulted in a $6 million decrease in the market value of Darwish’s shareholding in the top telecom infrastructure company. His shareholding has decreased from $51.23 million on April 3 to $45.22 million.
Despite this defeat, Darwish remains an important figure in the worldwide telecom business.
IHS Holdings’ extensive tower network and smart acquisitions have secured its position as a major participant in the global telecom infrastructure sector.
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