General News
Access Bank Brings Africa to Lagos For BAFEST 2018
Access Bank, One of Nigeria’s foremost financial institutions, on December 16, 2018, celebrated the maiden edition of the Born in Africa Festival (BAFEST).
The festival which was held at the Eko Atlantic City, had over 25,000 people in attendance.
Social media has been abuzz with tweets and pictures from fans at the venue.
Over 300,000 tweets and Instagram posts were shared between 12 noon on Sunday 16th and 4am on Monday 17th reaching over 3 Million individuals with the #BAFEST2018 and #BorninAfricaFest hashtags.
Attendees were treated to about 19 hours of non-stop quality African-themed entertainment, with art exhibitions, fashion shows, film screenings, and all culminating in a jaw-dropping music and runway infused concert!
Art lovers admired contemporary artworks exhibited by some of Africa’s most talented visual artists; Tolu Aliki, Uche Edochie, Ibe Ananaba, Isaac Emokpae, Olumide Onadipe, and Obi Chigozie.
At the creative park, enthusiastic fashion lovers were not left out, as there were cutting edge styles on display from designers like Torlowei, Tiffany Amber, Blingshiki and David Tlale.
20 intriguing short films were screened throughout the day, as film lovers sat comfortably in the BAFEST screening room.
BAFEST 2018 was a great avenue for networking, as friends reconnected and families bonded over food and drinks from the food court, games, exhibitions, and much more.
One of the spectacular highlights of the night was the aerial drummers’ performance which featured 10 drummers and an aerial dancer suspended 150 feet above the ground level.
The stunning opener to the concert was a sight to remember, as attendees were left astounded.
Another major highlight of the night was the giveaway by Kia Motors, as a brand new Kia was given to a lucky attendee.
The attendee, who participated in the BAFEST treasure hunt, was presented with the keys to her brand new car at the festival.
Falz the Bahd Guy opened the show with an energetic performance of his hit songs, as supermodels simultaneously blazed the stage with designs by South Africa’s David Tlale.
The rollercoaster of performances had only just taken off when Olamide, Kizz Daniel, Yemi Alade, Congo’s finest, Awilo Longomba, Tiwa Savage, Burna Boy, D’Banj and South Africa’s Sho Madjozi took guests on a journey with their energetic performances.
The renowned international dancer and choreographer, Diddi Emah flew in from the U.S to thrill fans with titillating dance routines.
Diddi, who had previously worked with Beyonce, Missy Elliot, Rihanna, Kendrick Lamar and other international stars, expressed how excited she was to be performing at one of Africa’s biggest festivals and thanked the awesome crowd for the warm reception.
Hosts of the festival, Shody the Turnup King and the Real Energy Gad Do2dtun, did a fantastic job getting the crowd hyped from the beginning of the show till the end. DJ Crowd Kontroller was on the wheels of steel.
In his closing remarks at the festival, Livespot’s Executive Creative Director, Darey Art Alade thanked everyone for attending and announced that the world should look forward to a bigger 2019 edition.
He also showed appreciation to Access Bank for establishing and supporting the Born in Africa Festival, while also thanking other supporting sponsors, Tiger Beer, Pepsi, Martell, Eko Atlantic, and Kia Motors.
Herbert Wigwe, Group Managing Director and CEO, Access Bank, closed the event, saying, “We at Access Bank have always been committed to driving innovation, supporting creative talents, and retelling the African story.
“It is time we let the world know that there is so much to celebrate in Africa.
“Born in Africa Festival is one of the ways of demonstrating our commitment and we are glad it was a huge success.”
Federal government has temporarily suspended the controversial annual dues imposed on public interest enterprises by the Financial Reporting Council (FRC) after fierce opposition from businesses.
Jumoke Oduwole, minister, Industry, Trade, and Investment, announced the decision during a Ministerial Consultative Meeting in Abuja on Wednesday.
The move follows mounting pressure from private sector groups, including the Nigeria Employers’ Consultative Association (NECA) and the Manufacturers Association of Nigeria (MAN), who slammed the Financial Reporting Council (Amendment) Act 2023 for burdening companies with excessive fees.
The Act mandates cumulative annual charges for non-listed entities and imposes a harsh 10% monthly penalty on unpaid dues, compounding until full payment, a provision that sparked widespread backlash.
At the meeting, major industry players like NECA, MAN, the Nigerian Association of Chambers of Commerce (NACCIMA), oil producers, and telecom operators warned that the fees would cripple businesses already struggling in a tough economy.
Oduwole clarified the suspension, stating, “The government has decided to direct the Financial Reporting Council to pause in the implementation of the new annual dues. You know that I am a lawyer, and a suspension request by the organised private sector would be in contravention of legislation duly passed by the National Assembly. A pause is an administrative process simply to review, in line with what we discussed today.”
She assured stakeholders that the halt would last no longer than 60 days, with a technical working group—including FRC officials and private sector representatives—set up to reassess the policy.
“We are a listening administration. The private sector has requested a range from three months to an indefinite suspension. We are not going to do that. So, at the most, 60 days is in my estimate. We are going to set up a technical working group comprised of the FRC and the organised private sector who have formally written in, and this will be reviewed,” Oduwole emphasized.
The Standards Organisation of Nigeria (SON) says it is intensifying efforts to standardise locally manufactured products, including Made-in-Aba brands, in order to enhance both local and international acceptance.
Aharanwa Chuks, Director of Region (South East), SON, communicated this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.
Chuks said through the Mandatory Conformity Assessment Programme (MANCAP), SON ensured that all Nigerian-made products conformed to the relevant Nigerian Industrial Standards (NIS).
According to him, MANCAP involves direct engagement with manufacturers to certify that their products meet established quality benchmarks.
“This process includes inspecting production facilities, sampling products and testing them against NIS requirements.
“Successful compliance results in the issuance of the MANCAP certification, signifying adherence to quality standards.
“In Aba, SON has been proactive in educating manufacturers about standardization.’’
The director said SON also conducted stakeholder interactions; gathering manufacturers from various sectors to provide guidance on producing goods that met both local and international standards.
“For instance, leather manufacturers in Aba have been sensitized on standardization practices to enhance the global competitiveness of their products.
“Manufacturers are encouraged to collaborate with SON to obtain MANCAP certification, ensuring their products are not only marketable within Nigeria but also competitive internationally.
“This initiative aims to boost consumer confidence and promote the acceptance of Made-in-Aba products globally,” Chuks said.
Operatives of the Economic and Financial Crimes Commission (EFCC), has busted a Ponzi Scheme Academy and arrested 133 suspects in Abuja.
They were arrested at the Compensation Layout in Gwagwalada area of the Federal Capital Territory, FCT, Abuja, following actionable intelligence on the existence of the Academy.
The Academy, named Q University (a.k.a Q-Net) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns.
The suspects are enrolled into a training codenamed: “Special Training for New Generation Billionaire” and brainwashed to believe that they would graduate into the league of billionaires.
They got into the training by obtaining a form the promoters called “Independent Representative Application Form” with promotional slogans such as: “I’m a Champion” “I’m Unstoppable”, “I’m Infinity”, among others.
The EFCC carried out the operation in collaboration with officers and men of 176 Guards Battalion, Nigerian Army.
Items recovered from the suspects include phones, computers and other electronic gadgets.
They will be charged to court as soon as investigations are concluded.
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