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Afro Nation’s performance in Lagos gets canceled

Tosin Ranks
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Afro Nation’s performance in Lagos gets canceled

On Tuesday, Afro Nation announced the regrettable cancellation of the Afrobeats festival initially slated to take place at the iconic Tafawa Belewa Square in Lagos.

Afro Nation, an annual three-day music festival co-produced by Live Nation, Event Horizon, Smade Entertainment, and Memories of Tomorrow, had eagerly anticipated its inaugural event in Nigeria, scheduled for December 19-20 in Lagos.

In a statement released by the organizers through their official channel, they conveyed their deep disappointment regarding the event’s cancellation.

The statement expressed, “Regrettably, the Afro Nation Nigeria festival in Lagos will not proceed as planned.

As event organizers, we uphold exceptionally high standards, and it has become evident that delivering an event of the caliber that Nigeria deserves in December 2023 is presently unattainable.

We take pride in our role within the Afrobeats community, offering a platform for artists to connect with their fans and curating events that have a positive global cultural impact.

We have successfully hosted remarkable shows in various locations, including Portugal, Ghana, Puerto Rico, Miami, and Detroit.

However, Nigeria holds a special place in our hearts, and it saddens us deeply not to be able to celebrate with you this year.

Please rest assured that we are unwaveringly committed to creating an Afro Nation event in Lagos that we can all take pride in.

We understand that this news is as disappointing to you as it is to us, and we extend our heartfelt gratitude to all those who purchased tickets, showing us their unwavering support on this journey.

We will initiate a full ticket refund process, covering all associated booking fees.

Ticket holders need not take any action, as they will receive an email with instructions on how to proceed with the refund. We look forward to the day when we can gather together once again.

 

Zainab Saleh Tournament to Host 200 Skilled Karate Athletes in Thrilling Competition

Tosin Ranks
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Zainab Saleh Tournament to Host 200 Skilled Karate Athletes in Thrilling Competition

Anticipate the participation of a minimum of 200 skilled karate athletes in the upcoming 9th edition of the Zainab Saleh International Female Karate Championship, scheduled to take place from November 2nd to 5th at Lagos’s Teslim Balogun Stadium.

Zainab Saleh, the event’s founder, disclosed this exciting news during a press conference held at the Teslim Balogun Stadium’s Sports Bar.

“We are excited to welcome over 200 registered athletes to the competition, commencing on Friday, November 3rd.

The tournament’s activities will kick off with a referees’ course and examination on Thursday, November 2nd, adhering to the standard protocol of African and World tournaments,” Saleh confirmed.

Following the conclusion of the event on Saturday, November 4, awards will be presented to the gold, silver, and two bronze medalists in the Kata and Kumitae categories, spanning across senior, junior, cadet, U-14, and U-12 (10-11) weight classes.

A representative of the Lagos State Karate Association, Saleh expressed her belief that the championship has significantly contributed to the development of women’s karate in Nigeria.

She remarked, “This championship has undeniably played a pivotal role in fostering women’s karate in Nigeria, with several female athletes earning spots on Nigeria’s National Team through this event.

Notably, an athlete from Benin Republic, a consistent participant since the championship’s inception, has competed at the World level.”

She also took pride in observing the progressive improvement in the technical skills of the athletes with each passing year.

Saleh expressed hope for corporate sponsors to offer continuous support, acknowledging that the event has grown beyond the capacity of a single individual to manage.

The championship, which has been an annual event since 2014 (with the exception of 2020 due to the COVID-19 pandemic), not only seeks to promote karate but also aims to raise awareness of the benefits it can offer to young girls.

Zainab Saleh stated, “I aim to increase awareness about the virtues of karate, especially for women and girls.

Greater participation means a larger talent pool for selection into our National Team, representing us at international events.

We are pleased to announce that more teams from neighboring countries will be joining us.”

She added, “One of our participants has even competed in the World Karate Championships, and I am confident that we can produce athletes capable of qualifying for the Olympic Games.”

Her parting advice to the athletes was to intensify their training efforts and seize every opportunity to showcase their talents.

 

Unsuccessful event: Pinnick initiates a lawsuit against Davido, seeking N2.3 billion in damages and an apology

Tosin Ranks
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0
Unsuccessful event: Pinnick initiates a lawsuit against Davido, seeking N2.3 billion in damages and an apology

Brownhill Investments Company Limited, the organizers of the annual ‘Warri Again Concert,’ led by Mr. Amaju Pinnick, a former President of the Nigeria Football Federation, has initiated a legal action totaling N2.3 billion against the popular hip-hop artist, David Adeleke, famously known as Davido.

This lawsuit, designated as EHC/183/2023, has been filed before the Delta State High Court in Effurun.

Through their legal representative, Kelechi Onwuegbuchulem, the claimant is seeking N2 billion in general damages from Davido and his music label, Davido Music Worldwide Limited.

Additionally, the claimant is requesting N150 million for legal and professional fees and an extra N30 million to cover the costs associated with filing the lawsuit.

Furthermore, the claimant is seeking a court order for Davido to issue a public apology on his social media accounts and in two national daily newspapers for four consecutive days, directed towards the claimant and the event attendees.

According to the claimant’s statement, in early 2023, Davido approached Mr. Pinnick at the Abuja Airport and expressed his interest in performing at the 19th edition of the ‘Warri Again Concert’ scheduled for October 6, 2023.

Although Mr. Pinnick was initially hesitant, they eventually agreed on a performance fee of N70 million.

A payment of $94,500.00, equivalent to N70 million, was made on April 6, 2023, which was duly acknowledged by the defendants.

Davido also participated in a promotional video for the event.

However, he failed to appear on the event’s scheduled date.

The claimant incurred significant expenses on print and social media advertisements and promotions for the event.

A formal reminder letter, along with a flight itinerary for a chartered private jet, was sent to Davido one week before the event, incurring an additional $18,000 in expenses.

Despite all efforts to reach Davido and his team on the event day, October 6, 2023, they did not show up, even though a private jet was chartered for their transportation.

Consequently, Brownhill Investments Company Limited is seeking the full payment of $94,500 as compensation for engaging Davido’s services.

WIPO IP Labs has chosen the top 21 startups to advance to Phase 2 of the acceleration program

Tosin Ranks
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0
WIPO IP Labs has chosen the top 21 startups to advance to Phase 2 of the acceleration program

The WIPO Nigeria Office (WNO), in collaboration with its implementing partner, The Orbra Company, is thrilled to announce the selection of the top 21 startups for Phase 2 of the inaugural WIPO IP Labs program in Nigeria.

These 21 innovators, out of a pool of 56 promising entrepreneurs in Phase 1, have demonstrated remarkable progress in turning their ideas into impactful businesses by leveraging intellectual property.

These startups cover a diverse range of industries, including AgriTech, HealthTech, Clean Energy, Fintech, Waste Management, and more, all with a shared focus on scalable solutions aligned with Sustainable Development Goals.

The selected participants are as follows:

– Emmanuel Williams
– Stephen Adeyemo
– Thomas James
– Favour Leo-Adegun
– Adeyinka Meduoye
– Jummai Victor Tela
– Oluwafolakanmi Oyeleke
– Abdulazeez Salahudeen
– Chimobi Ogudu
– Alex Nwachukwu
– Chioma Nnanna
– Abduljalaal Abubakar
– Richard Omole
– Noma Sodipo
– Precious Olufemi Adepoju
– Augusta Okafor
– Kamal Aliyu
– Uthman Alao
– Ifeanyi Enwu
– Taiwo Isola
– Michael Osumune

Phase 2 is scheduled to commence on Monday, 30th October 2023, with the IP Management Clinic.

During this phase, startups will receive personalized support to scale and commercialize their innovations.

Participants will engage in IP management clinics to solidify protection strategies, refine business models, enhance pitches to attract investors, and accelerate their ventures from prototype to real-world impact.

The selected participants are excited about the extensive learning and growth opportunities in Phase 2, aiming to transform their ideas into enterprises that uplift underserved communities.

WIPO extends heartfelt congratulations to the Phase 2 participants and eagerly anticipates tracking their entrepreneurial journeys.

These talented innovators inspire hope for African solutions that drive prosperity and underscore the power of strategic IP management combined with purpose-driven tenacity.

Stay tuned for more updates as these startups pave the way for people, profit, and planet through the WIPO IP Labs.

For further information about the program, please visit the WIPO Nigeria website.

Telegram Partners with Ivorypay, a Crypto Payment Startup, to Extend Wallet Services into the African Market

Tosin Ranks
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0
Telegram Partners with Ivorypay, a Crypto Payment Startup, to Extend Wallet Services into the African Market

Telegram Wallet and Ivorypay, a crypto payment startup based in Africa, have announced an exciting strategic collaboration with the primary goal of promoting Peer-to-Peer (P2P) transactions and enhancing liquidity for users of Telegram Wallet across key African markets such as Uganda, Kenya, Nigeria, Ghana, and South Africa.

This partnership paves the way for the further expansion of these services throughout the African continent, reflecting a shared vision for increased financial inclusion and technological progress in the region.

In a move that marked Telegram’s entry into the cryptocurrency wallet sector earlier this year, this partnership with Ivorypay is poised to significantly improve the convenience and efficiency of P2P transactions for Telegram Wallet users in Africa.

Under the terms of this alliance, Ivorypay will provide its on/off ramp infrastructure to facilitate P2P transactions on Wallet by Telegram, ensuring smooth conversions between cryptocurrencies and fiat currencies.

Oluwatobi Ajayi, the CEO of Ivorypay, expressed his enthusiasm, stating, “The collaboration with Telegram Wallet is an exhilarating development.

It not only serves as an endorsement of our technology but also aligns with our mission to simplify and democratize digital transactions across Africa.”

Ivorypay, known for its innovative fintech solutions, has carved a niche in Africa’s crypto payment landscape by offering a diverse range of services tailored to both businesses and individuals.

Among its offerings is Mansa, a mobile crypto payment wallet that exemplifies the company’s commitment to simplifying digital transactions, set to launch later this year.

Meanwhile, Telegram, one of the world’s largest messaging platforms, will now provide millions of Africans using its platform with access to a wide range of crypto transactions.

This partnership with Ivorypay represents a significant step forward for Telegram Wallet in its mission to establish a strong presence in Africa, a market with substantial potential for digital payment solutions.

Together, Telegram and Ivorypay are embarking on a journey to redefine the digital payment ecosystem in Africa, one innovation at a time.

We will continue with our repayment plan, even in light of DLM Trust Company’s withdrawal. – Statement from the Founder of Patricia Technologies

Tosin Ranks
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0
We will continue with our repayment plan, even in light of DLM Trust Company’s withdrawal. – Statement from the Founder of Patricia Technologies

At Patricia Technologies, we were deeply taken aback by DLM Trust Company’s sudden and unilateral decision to terminate our partnership, catching us completely by surprise as we received no prior notice before their public announcement of withdrawal.

Nevertheless, we want to reassure our depositors and stakeholders that the repayment plan, which we jointly initiated with DLM Trustees just a few days ago, will proceed as scheduled.

It is important to note that our selection of DLM Trustees followed several weeks of extensive discussions with the leadership of the Group, including Mr. Kehinde Lawal of DLM Group and Mrs. Lola Rasaq, the CEO of DLM Trust Company, culminating in the partnership agreement.

Throughout the negotiation process and in the aftermath of the agreement, Patricia Technologies upheld the highest standards of professionalism, adhering to all requisite procedures and fulfilling our financial commitments to finalize the contractual agreement.

One piece of evidence supporting this is the substantial transfer of funds to DLM Trustees, earmarked for the planned payouts to our customers, commencing on November 20, 2023.

We find it bewildering that DLM Trustees not only chose to retract from our agreement but also failed to provide notice or engage in prior discussion, disregarding the termination clause in our contract.

Furthermore, their public statement alleges that we breached the terms and conditions of our partnership without specifying the nature of the breach.

We firmly deny this false accusation and challenge DLM Trustees to substantiate their claims.

We consider these allegations groundless and may explore legal action to seek compensation for the setbacks and damages resulting from this apparent defamation attempt if DLM Trust fails to validate their claims.

To Our Valued Customers:

Despite this unfortunate turn of events, we want to assure you that all scheduled payments will proceed as planned, commencing on the 20th.

This situation provides another opportunity to demonstrate our organization’s resilience and unwavering commitment to you, our esteemed customers.

We extend our sincere apologies for any inconvenience or concerns that this situation may have caused and express our gratitude for your enduring trust and patronage.

Once again, we want to emphasize that our planned repayments to depositors will proceed without disruption.

 

5 Compelling Arguments for Why PHANTOM Foldable Devices Should Be in Your Must-Have List

Tosin Ranks
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0
5 Compelling Arguments for Why PHANTOM Foldable Devices Should Be in Your Must-Have List

In an era dominated by technology-driven innovation and uniqueness, the PHANTOM Foldable Series from TECNO emerges as a versatile solution for all smartphone users. Consisting of the PHANTOM V Flip 5G and PHANTOM V Fold, these devices go beyond traditional smartphones, embodying cutting-edge innovation.

For users seeking a standout device in a crowded market, the PHANTOM Foldable Series stands out as the ultimate choice.

Let’s delve into why these devices are the preferred option in a world overflowing with choices:

1. Uniquely Designed
The PHANTOM V Fold grabs attention with its distinctive left-to-right folding pattern, while the PHANTOM V Flip 5G, tailored for fashion-conscious users, offers remarkable pocket-friendliness.

The unique folding style of the PHANTOM V Fold and the inherent portability of the PHANTOM V Flip 5G collectively bring an element of elegance to your daily tech experience.

These distinct features cater to a wide range of user preferences in the mobile device world.

2. Durability That Withstands the Test of Time
One common concern with foldable devices is the unsightly crease on the display after prolonged use.

TECNO addressed this issue head-on with the PHANTOM V Fold, crafting its hinge from Aerospace-grade materials, tough enough to endure 200,000 folds.

Say goodbye to creases and hello to a device that withstands the test of time. What’s more, TECNO backs this up with a reassuring one-year warranty on the display.

3. Outstanding Displays
Both the PHANTOM V Flip 5G and the PHANTOM V Fold impress with their exceptional display quality.

The PHANTOM V Fold offers an impressive cover display – a 6.42-inch LTPO AMOLED screen with a resolution of 1080x2550px, all running at a smooth 120Hz.

But that’s just the beginning. Unfold it, and you’re greeted by a generous 7.85-inch 2000x2296px folding screen, boasting a 120Hz LTPO panel that even surpasses some of its competitors.

The PHANTOM V Flip 5G, on the other hand, boasts a remarkable 6.9-inch AMOLED flexible screen, ensuring vivid visuals and an immersive application experience.

4. Affordable Innovation
The most compelling aspect of the PHANTOM Flip and Fold duo is their affordability.

TECNO, in its mission to make innovation accessible, has set the starting price at just N685,000.

Now, you can join the foldable device trend without breaking the bank. And the icing on the cake – TECNO’s Easybuy option.

It allows you to own either of these devices with a manageable 30% down payment, with the rest spread over several months, free from any interest charges.

5. TECNO’s Forward-Thinking Innovation
The PHANTOM V Flip 5G and PHANTOM V Fold are not just devices; they are a testament to TECNO’s dedication to advancing technology and providing users with devices that offer cutting-edge features and user-friendly experiences.

These devices epitomize TECNO’s mission to bring innovation into the hands of users and set new standards in the tech industry.

The PHANTOM V Flip 5G and PHANTOM V Fold go beyond the limits of conventional smartphones, acting as gateways to a promising future.

Their groundbreaking innovations underscore TECNO’s unwavering commitment to progress, firmly establishing these devices as leaders in the ever-evolving world of smart technology. For those envisioning a future filled with limitless possibilities, the PHANTOM Flip and Fold represent your golden ticket to an exhilarating journey ahead.

To stay ahead of the curve, follow TECNO on Facebook, Instagram, and X for the latest updates and information.

Schweppes introduces a new product

Tosin Ranks
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0
Schweppes introduces a new product

Schweppes, a renowned beverage brand, has unveiled a new 40cl PET bottle in the Nigerian market.

This latest addition enriches Schweppes’ existing range of flavors, which includes Virgin Mojito, Chapman, and Pineapple with malt extract, as announced in an official statement.

The launch event took place in Lagos and attracted celebrities from the entertainment industry and corporate executives.

Yusuf Murtala, the Marketing Director of Coca-Cola Nigeria, emphasized the innovative aspect of the Schweppes 40cl PET bottle launch, underlining its goal to redefine social interactions and foster positive connections among consumers.

He stated, “Schweppes has a longstanding tradition of delivering exceptional and lasting flavors.

Our objective is to elevate the consumer’s engagement with the brand. With our innovative new bottles, consumers can savor our premium offerings and enjoy refreshment at their convenience.”

Addressing the audience, Adesoji Omoigui, the Senior Marketing Manager for Flavors at Coca-Cola Nigeria, underscored the Schweppes family’s dedication to providing an elevated and enjoyable socializing experience.

She expressed, “The Virgin Mojito, Chapman, and Pineapple with Malt Extract variants in the PET bottles represent the perfect fusion of taste and style, catering to the refined preferences of our consumers.

UBA reports a remarkable 115.2% increase in Q3 revenue, surging to N1.3 trillion

Tosin Ranks
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0
UBA reports a remarkable 115.2% increase in Q3 revenue, surging to N1.3 trillion

The United Bank for Africa (UBA) experienced remarkable financial growth in the first nine months of 2023, with its revenue surging by 115.2% to N1.31tn compared to N608bn in the same period of 2022.

These results were disclosed in the condensed interim consolidated financial statements for the period ending on September 30, 2023, which UBA submitted to the Nigerian Exchange Limited.

During this period, the bank also saw its operating income rise by 146% from N414bn in September 2022 to N1.02tn in 2023.

Furthermore, its profit after tax soared by an impressive 287.18% to N449.30bn, up from N116.04bn in 2022, surpassing its annualized return on average equity for Q3, 2023, at 131% to 44.37%. These outstanding results followed the positive growth trend seen in the previous quarters of the year.

UBA continued to maintain a robust balance sheet, with total assets increasing to N16.24tn, representing a substantial 49.5% growth from the N10.86tn recorded at the end of December 2022.

Customer deposits also rose significantly to N11.63tn, a 48.6% increase from N7.8tn at the end of the previous financial year. Shareholders’ funds for UBA stood at N1.778tn, an increase from N922.1bn as of December 2022.

Commenting on these results, UBA’s Group Managing Director/CEO, Mr. Oliver Alawuba, attributed the impressive performance to factors such as FX harmonization, efficient balance sheet management, and service-focused strategies.

He emphasized the bank’s continued commitment to delivering value to shareholders and stakeholders, particularly outside of Nigeria.

Looking ahead, Mr. Alawuba expressed optimism that this growth trend would be sustained in the final quarter of the year, as UBA remains focused on delivering enhanced returns to its shareholders.

UBA’s Executive Director, Finance & Risk, Ugo Nwaghodoh, highlighted the strong momentum of the bank, with improvements across its businesses and key performance metrics.

He stressed UBA’s dedication to achieving sustainable and improved performance across its various business segments, despite changes in monetary and fiscal regimes in some markets.

 

The Senate has given its approval to Adedeji as the Chairman of the FIRS

Tosin Ranks
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0
The Senate has given its approval to Adedeji as the Chairman of the FIRS

The Senate has officially ratified Zack Adedeji’s appointment as the head of the Federal Inland Revenue Service, a decision that gained majority support from senators following his thorough examination during the plenary session held on Tuesday.

In his address before being confirmed, Adedeji committed to enhancing the agency’s data mining capabilities, aiming to enable more informed tax-related decisions.

He pointed out that the absence of comprehensive financial data for both local and foreign companies operating within the nation has contributed to revenue losses.

Adedeji expressed, “We are dedicated to strengthening our data mining prowess, using it as the foundation for our tax assessments.”

Furthermore, he vowed to closely scrutinize the Federal Government’s tax credit program, which provides certain corporations with tax exemptions in exchange for infrastructure development.

 

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