Executive Vice President
Court stops COSON from general distribution practice
A Federal High Court sitting in Lagos has declared that the General Distribution which is practised by the Copyright Society of Nigeria, COSON, is illegal. The practise involves the annual distribution of the same amount of music royalties, usually about N30,000 each, to thousands of the organization’s members. This practice was challenged in court by the Music Publishers’ Association of Nigeria, MPAN, in Suit No. FHC/L/CS/1418/2019; Green Light Music Publishing Ltd, Chocolate City Music Ltd, Premier Music Publishing Company Ltd v. Copyright Society of Nigeria Ltd/Gte. The judgement which was delivered on November 25, 2020, by Justice Oguntoyinbo also ordered COSON to stop further distribution of royalties “in a manner known as ‘General Distribution’ or how so ever called which does not re...
Afreximbank clinches African Banker’s Debt Deal of the Year award
The African Export-Import Bank (Afreximbank) has been announced the winner of the Debt Deal of the Year Award at the 14th Annual African Banker Awards 2020. The awards, which held virtually on Wednesday, recognized institutions and individuals driving growth and development in Africa and creating new economic opportunities for citizens and communities across the continent. The Debt Deal of the Year Award was granted to Afreximbank for a EUR 1 billion syndicated senior loan facility arranged with Credit Suisse for Nigeria’s Bank of Industry. The funds have supported the Bank of Industry’s (BoI) work expanding, diversifying and modernizing Nigeria’s industrial sector. Having originally been sized at EUR 750 million, the debt raising was successfully upsized to EUR 1 billion through a general...
NiDCOM chief congratulates Benedict Oramah on his re-appointment as Afreximbank president
The Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), Mrs Abike Dabiri-Erewa, has congratulated Prof. Benedict Oramah on his re-appointment as President, African Export-Import Bank (Afreximbank) for a second term in office. The NiDCOM chair expressed the felicitations in a statement by Mr Gabriel Odu of the Media, Public Relations and Protocol Unit of the commission on Tuesday. The NiDCOM chief said that Oramah’s “enormous contributions to the growth and development of the bank and the huge successes attained during his first tenure” testified to his re-appointment. She, therefore, urged Oramah, as a Nigerian in diaspora, to woo more diaspora investors to invest in the continent particularly Nigerian diasporas and to continue on his quest to better prepare the African continent to c...
