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NCC DG Calls for National Book Policy to Address New Challenges

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Mr. John O. Asein, director-general of Nigerian Copyright Commission (NCC), has called on stakeholders in the book sector to work towards the formulation and adoption of a National Book Policy that would address the emerging issues in the sector.

He made the call in his remarks at a copyright webinar organised by the Commission as part of the Virtual Nigerian International Book Fair, 2020 over the weekend with the theme: “Information Technology as a Panacea for the Book Industry Sustainability Amidst the Covid-19 Pandemic”.

Mr. Asein noted that the COVID-19 pandemic presented practitioners in the book industry with an opportunity to redesign their business models, stressing that it was imperative for all those concerned to go back to the drawing board and address the new realities of today in order to guarantee a better tomorrow.

He tasked authors, publishers, printers, booksellers and others in the value chain to leverage on emerging Information and Communication Technology (ICT) tools to sustain their relevance in the industry.

According to him, the Commission has harmonised its regulatory and enforcement framework for a balanced, responsive and sustainable copyright ecosystem that would continue to meet the needs of the wider creative sector.

The Director-General disclosed that in partnership with accredited bodies, the Commission would soon roll out measures to monitor the production, importation, warehousing, distribution and sale of books, lamenting the reckless abuse by pirates.

“The Commission will also activate all provisions of the Copyright Act, including the obligation on publishers, printers, producers and manufacturers of copyright works to keep a register of works.

“Our primary objective is to provide a more congenial business environment for copyright business, check book piracy and promote effective management and enforcement of rights”, he added.

He indicated that the proposed measures followed discussions between NCC and stakeholders like the Association of Nigerian Authors (ANA), the Nigerian Publishers Association (NPA), the Booksellers Association of Nigeria (BAN); and the Chartered Institute of Professional Printers of Nigeria (CIPPON), to develop appropriate technology-based solutions to some of the lingering problems in the industry.

Noting that Nigeria ratified the Marrakesh Treaty in October 2017 to enable persons who were blind, visually impaired, or otherwise print disabled have access to published works, the Director-General also urged publishers to deploy information technology to ensure that more books were made accessible to such persons.

“We urge relevant Government agencies at Federal and State levels to adopt a policy requiring all government funded book production or procurement agreements to include an obligation that the books should also be made available in formats that blind and visually impaired persons can access”, he stated.

He assured that the Commission would partner with the Nigeria Association of the Blind to follow-up on its collaboration with the Accessible Book Consortium (ABC) of the World Intellectual Property Organization (WIPO) for the training of publishers and braille production centres to promote the production of school books in accessible formats.

He condemned the rising incidence of illicit book sharing on WhatsApp groups, rogue e-libraries and fraudulent online bookstores, especially in the wake of the pandemic and e-learning solutions that it has forced on the education system.

To this end, he assured right owners that the Commission would continue to monitor the online space and respond speedily to reports of copyright abuses.

“In the meantime, the newly established Online Inspectors Unit in the Commission’s Enforcement Department will also be taking preemptive actions to disrupt online infringements”, he said.

Speaking on the “Challenges of Copyright Enforcement in the Digital Environment”, the Commission’s Director of Enforcement, Mr. Obi Ezeilo identified outdated laws, need to collaborate with different agencies responsible for aspects of online dealings, the difficulty in identifying true copyright owners and the reluctance of online service providers to take down infringing works, as some of the problems militating against effective enforcement of copyright online.

Other challenges identified included the problem of gathering evidence to prosecute online offender; territorial nature of copyright law making it difficult to go against offenders domiciled outside Nigeria; and the frequent changes in technology in the digital environment.

Other resource persons at the webinar were the Deputy Director, Regulatory Department of NCC, Mrs. Susan Bashorun, who made a presentation on “Practical Guidelines for Copyright e-Registration System” and a Chief Copyright Officer, Mr. Kunle Olatunji, who presented a paper on “Management of Rights in Literary Works: Imperatives for the Digital Environment”.

The webinar, moderated by NCC Director of Regulatory Department, Mr. Augustine Amodu, drew participants from across different copyright related sectors.


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VFD Group Proposes SplitXchange for Financing Nigeria’s Creative Industry

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VFD Group Plc has proposed the introduction of a specialized Exchange that would address the issue of financing in Nigeria’s entertainment and creative industries to bolster foreign exchange earnings and economic development.

Folagbade Adeyemi, the Managing Director of Splitar Limited,  stated this while speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) quarterly Forum, sponsored by VFD Group Plc.

Adeyemi revealed that the Group is actively pursuing an exchange platform tailored to the media and entertainment sector, offering diverse investment opportunities for both domestic and international investors.

Currently in its development stage, SplitXchange when launched, would offer a platform for financing the media and entertainment industry, among other alternative assets.

According to him, “Seeing the huge potential in alternative assets, Splitar Holdings, through Split Exchange, would drive the alternative assets space with its revolutionary digital exchange.”

He emphasized the potential of this sector to significantly improve the GDP of the country and called for a collaborative approach towards establishing robust frameworks and clear guidelines to support investment in alternative assets leveraging technology.

“Unless we collaboratively set up institutions that can provide data around these asset classes and place a true value on these asset creators to make seeking finance a lot easier, we will not see significant returns.

“A lot of transactions have been ongoing within that space which are not captured within the country’s value chain. That is what SplitXchange seeks to address.”

With Nigeria’s estimated population at 208.8 million people, Adeyemi highlighted the increasing demand for Nigerian content locally and on a global scale.

Speaking on the theme: “Beyond Tradition: Increasing Relevance of Alternative Assets in the Capital Market,” Adeyemi lamented the absence of robust funding pillars in the country.

He emphasized the potential of Entertainment and Media, noting that globally there is an average market size of $41 billion as of 2021 with an estimated growth of 4.2 per cent.

While pointing out investments by Netflix and Amazon, which have churned out blockbuster movies that have gained viewership and streams across the globe, he noted that Nigeria’s biggest investor in the form of Pension Assets was yet to invest in the entertainment or streaming services.

He stressed the need to solve the problems of liquidity, efficiency, and barriers to entry in the country.

“In today’s market, the quick conversion of assets into cash is a challenge due to the absence of a well-structured marketplace that oversees and regulates these assets.

“The automation of processes such as compliance, escrow account management, dividend distribution, corporate action management, and drag-along actions technology presents a significant challenge in today’s alternative market. The high initial cost of assets in this market restricts participation to only affluent individuals and corporate investors,” he said.

He noted that the sector remains excluded from the organized financial sector due to the inability of intermediaries to recognize Intellectual Property (IP) as suitable collateral to access funding. “Projects are financed informally through a network of angel investors, high net worth individuals, non-governmental organizations, government, and personal savings,” Adeyemi said.

Furthermore, he pointed out that investors and asset creators face challenges when seeking investment opportunities or raising capital through traditional financial avenues.

“Traditional financial institutions are ill-equipped to appraise industry opportunities due to poor visibility, data, and income/revenue leakages leading to mispricing through high-interest rates, market illiquidity of associated securities, poor market depth, and lack of accessibility for retail investors,” he said.


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Konga Travel Commences Canadian Visa Services for Professionals and Students

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Konga Travels and Tours, a leading provider of travel services in Nigeria is pleased to announce the launch of its Canadian visa assistance services through strategic partnership with a licensed Canadian immigration company.

Konga Travels is now equipped and in a vantage position to assist clients in realizing their relocation dreams.

The new Canadian visa services cater to the travel needs of diverse category of individuals including students, workers, professionals, and investors looking for new opportunities in Canada.

Applicants can get exclusive packages on business immigration, study in Canada, work permits, as well as visit and tourist visa services with the professional assistance of Konga Travels and Tours.

The Business Immigration visa is tailored to investors interested in conducting business activities in Canada with a pathway to permanent residency. The Study in Canada visa service caters to students aspiring to pursue undergraduate or postgraduate studies in foreign institutions renowned for their academic excellence and global recognition.

Okezie Akaniro, Senior Vice President of Konga Online Limited expressed excitement about the expansion of the company’s service portfolio saying “We are thrilled to introduce Canadian visa assistance services to our esteemed clients because we understand the aspirations of Nigerians seeking to pursue educational, professional, or business opportunities in Canada.

“This partnership underscores Konga Travels’ commitment to providing holistic travel solutions that meet the diverse needs of our customers, with our expertise and strategic collaboration, we aim to simplify the Canadian immigration process and help individuals achieve their aspirations of studying, working, or investing in Canada,” he stated.

Expressing his enthusiasm for the new service, Abiola Bakare, Business Head of Konga Travels and Tours posited, “At Konga Travels, we continuously seek ways to enhance the travel experiences of our customers.

“The introduction of Canadian visa assistance services aligns with our goal of providing end-to-end solutions and simplifying the travel process for our clients.”

Konga Travels and Tours goes beyond processing visa applications. As part of its suite of services, Konga Travels offers flight booking, hotel reservations, and tour packages. Recently, Konga Travels and Tours further enhanced its offerings by partnering with Coronation Insurance to provide comprehensive travel insurance solutions.

For further inquiries, customers are encouraged to contact Konga Travels through any of the official customer touchpoints provided here:

Phone Call: +234 809 460 5555; 0708 063 5700

WhatsApp: +234 (0) 811 211 4488

Email: [email protected]

Facebook: Konga Travel

Instagram: @kongatravel


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5 Strategies to Prevent Payment Delays from Hurting Your Business

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Payment delays pose significant challenges for businesses across Africa. Maintaining a steady cash flow is essential for business growth and sustainability, making it crucial to address late or non-payments from customers.

So, how can SMEs effectively prevent payment delays? Let’s explore five actionable strategies to keep revenue flowing smoothly.

Streamline Payment Processes
Smoother payment experiences lead to prompt payments. Simplifying the payment process for customers by offering multiple payment options enhances convenience and reduces the likelihood of delays. It is important to note that collaborating with a reliable payment gateway is fundamental in achieving seamless transactions.

Embrace Subscription Models

Adopting a subscription-based payment model ensures consistent cash flow and predictability in revenue streams. SeerBit has innovative features, such as partial debits and automatic retries which fortify this model, ensuring uninterrupted revenue even amidst payment hiccups.

Digitize Invoicing

Transitioning from paper-based to digital invoicing eliminates delays caused by delivery hiccups, while also minimizing the risk of lost documents. Digital invoicing not only streamlines payment tracking, but also enhances operational efficiency.

Implement Incentives and Penalties

Introducing incentives for early payments and penalties for late payments encourages timely settlements. Customers are motivated to pay promptly to capitalize on discounts and other special deals, while the prospect of additional charges or sanctions deters delays. Reminder notifications serve as gentle nudges, prompting customers to fulfil their payment obligations promptly.

Proactive Payment Management

Partnering with SeerBit empowers businesses to proactively manage payment collections. With a robust payment gateway offering seamless transactions, recurring payment capabilities and digital invoicing services, businesses can effectively mitigate the risks associated with payment delays.

Conclusion

Preventing payment delays is critical for sustaining business operations and fostering growth. The World Bank predicts that late payments cost the global economy over $40billion every year. By implementing these strategies and leveraging the capabilities of SeerBit, businesses can optimize their payment processes, ensuring uninterrupted cash flow and significant long-term success.


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