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1st Bank Remove Otudeko, Three Others from Its Board

Posted by 9jabook.com on December 30, 2010 at 9:30pm

Dr. Ayoola Oba Otudeko and three others were
yesterday, axed from the board of First Bank of Nigeria. Our check
reveals that Oba Otudeko removal has to do with central bank
regulations, which disallow directors to
stay on the board for more than twelve years. However, Oba Otudeko who
has served on the board for almost twelve years, will be replaced by
Prince Ajibola Afonja, effective Jan 1, 2011.

In line with the CBN regulation, the bank has also appointed Ibrahim Dahiru Waziri; Tunde Hassan-Odukale; Khadijah Alao Straub; and Obafemi
Adedamola Otudeko as Non-Executive Directors.

While Bello Mohammed Maccido replaces Dr. Yerima Ngama, an executive director, who was muzzled to resign.

Other members of the board removed alongside Oba Otudeko are Alhaji Abdullahi Mahmood, General Garba Duba (Rtd.), and Mr. Oye Hassan-Odukale.


A statement issued by the bank management reads:

 

“In
line with the Bank’s long-standing commitment to best-of-breed
corporate governance practice, especially our commitment to continuity
and a constant rejuvenation of the Board of Directors, and consistent
with the provisions of the relevant sections of the Central Bank of
Nigeria’s Code of Corporate Governance for Banks, I wish to inform you
of the retirement of the Chairman, Dr. Ayoola Oba Otudeko from the Board
effective December 31 2010”...

 

“Along
with the Chairman, three other Non-Executive Directors, Alhaji
Abdullahi Mahmood, General Garba Duba (Rtd.), and Mr. Oye Hassan-Odukale
also retired their appointments from the Board effective December 31
2010”.

 

“At
a meeting of the Board of Directors held yesterday, and where these
retirements were announced, the Board underlined its emphasis for
continuity by appointing Prince Ajibola Afonja, previously a
Non-Executive Director, as Chairman with effect from January 1 2011. The
Board also appointed the following new Non-Executive Directors: Ibrahim
Dahiru Waziri; Tunde Hassan-Odukale; Khadijah Alao Straub; and Obafemi
Adedamola Otudeko”.

 

“Meanwhile,
the Board has accepted Dr. Yerima Ngama’s resignation from the Board
with effect from December 31 2010 in order to pursue newer challenges.
Bello Mohammed Maccido was appointed an Executive Director in place of
Dr Ngama with effect from January 1 2011”. 
Read more…

No More Free Music On Air From October 1st – COSON

Posted by NollywoodMohits on September 21, 2010 at 3:09am
The Copyright Society of Nigeria (COSON), the nation’s sole government approved collective management organization for musical works and sound recordings has announced that come October 1, 2010, the era of free music on Nigerian air waves and in public places will be gone forever. The announcement was made by COSON Chairman, Chief Tony Okoroji, at the Boardroom of the society in Lagos during the signing of a royalty collection agreement between COSON and Olusola Adekanola & Co, one of the nation’s foremost indigenous firms of chartered accountants.

By the agreement, the skills and resources of the two organizations are being aggregated to ensure that starting October 1, no organization using music in a commercial setting or in public anywhere in Nigeria is allowed to do so without the payment of copyright royalties as required by law. According to Okoroji, “The time has finally come for everyone to do their duty. We have respected the users of music. We expect them to reciprocate that respect. Any of them that is not licensed by October 1 may be attracting sanctions from us or will be exposed to the full weight of the other tools in our tool box”

At the agreement signing ceremony during the week, Chief Okoroji said that the choice of Olusola Adekanola & Co for the COSON assignment was based on the firm’s proven capacity to deliver. He said that their mandate is to use their nationwide infrastructure to reach every nook and cranny of Nigeria and collect the money due to long suffering Nigerian copyright owners. He added that beyond the collection of revenue, COSON is very mindful of the prudent, professional and transparent management of the copyright royalties collected so that at the end of the day the real copyright owners are not short changed..

The implication of the new regime is that from October 1 all broadcast media organisations, hotels, restaurants, event venues, advertising companies, banks, telecoms establishments, airlines, road transporters, oil companies and such other enterprises in Nigeria which use music in any way to aid their operations will be made to comply with the Copyright Act or face legal consequences.
Read more…

Nigerian Musicians Begin Hunger Strike August 25 as 1st of September is Declared ‘No Music Day’

Posted by NollywoodMohits on August 17, 2009 at 10:43pm
True to its vow at a world press conference held in Lagos on July 14, the coalition of major associations in the Nigerian music industry has begun the mobilization of stakeholders throughout the country for the commencement of an indefinite mass hunger strike to draw the attention of the world to the intolerable amount of piracy that is devastating the music industry in Nigeria. The mass hunger strike is planned to commence on August 25. As a prelude to the strike, there will be an important rally of stakeholders in the Nigerian music industry at the premises of the National Theatre, Lagos at 10.00am on August 25. The rally will offer an opportunity to artistes and investors across the industry to network and devise strategies to frontally attacking the piracy scourge that is plundering the Nigerian entertainment industry.Further to the hunger strike, the coalition has resolved that a powerful delegation of industry stakeholders will proceed to the National Assembly in Abuja on September 1 to express the frustration of the industry over the lukewarm and ineffective attitude of the government to attacking the piracy cancer that is fast eating away the livelihood of hundreds of thousands of Nigerians and destroying the Nation’s image. The coalition is also requesting all broadcast organizations in the country to show solidarity with the plight of the Nigerian entertainment industry by observing September 1, 2009 as “NO MUSIC DAY”. Consequently, broadcasting stations across Nigeria are requested not to broadcast music between the hours of 6 am and 6 pm on September 1. Artistes across the country are also requested not to engage in any musical performance on “NO MUSIC DAY”It will be recalled that at the Press Conference held at Protea Hotel, Ikeja on July 14, the coalition had called on President Yar’ Adua to declare a State of Emergency with respect to the fight against piracy in Nigeria and to muster the necessary resources to eradicate the monster. The coalition had also called on the President to take the following specific actions:-1. Set up a Governing Board made up of Nigerians of proven commitment and integrity to design and supervise the activities of the Nigerian Copyright Commission in accordance with the Nigerian Copyright Act as the records show that for more than five years, the Nigerian Copyright Commission has only had a Board for a period of a few months in 2005.2. Direct the Nigerian Copyright Commission to immediately put on hold the process of approval of any new copyright collective management organization pending the IMMEDIATE convening of a stake holders conference on Collective Management to ensure that the process receives input from the stakeholders that will earn any organization emerging from the process the support of the industry.3. Direct the Inspector General of Police to serve a warning to the traders at Alaba International Market in Lagos, the world’s biggest hotbed of piracy, that if within a specified period the traders do not clean up the market, the government will shut Alaba market down.At the massively attended Press Conference, the coalition had noted that whatever efforts made so far to fight piracy in Nigeria had failed and rather than piracy being controlled or reduced in Nigeria, it was ravaging an entire generation of creative people. The coalition also warned that in desperation, practitioners in the Nigerian entertainment industry may soon be forced to take the laws into their hands in a desperate attempt to safeguard their investment and this may result in otherwise avoidable bloodshed.The coalition made up of Performing Musicians Employers Association of Nigeria (PMAN), Nigerian Association of Recording Industries (NARI), Performing & Mechanical Rights Society Ltd/Gte (PMRS), Association of Music Business Professionals (AM.B-Pro), Music Label Owners & Recording Industries Association of Nigeria (MORAN), Music Label Owners Association of Nigeria (MULOAN), Gramophone Records & Cassette Dealers (AGRECD), Music Advertisers Association Of Nigeria (MAAN). Audio /Video CD Sellers Association of Nigeria (AVCDSAN) also reminded the government that Nigeria may face sanctions from the international community because of the glaring failure to meet the nation’s obligations under the different conventions and treaties signed by our country to protect intellectual property rights of citizens of other nations which are wantonly infringed upon in Nigeria alongside those of Nigerian nationals.All artistes in music film, comedy, drama, literary works and all friends of the entertainment industry are invited to storm the historic rally at the National Theatre Lagos on Tuesday August 25 at 10 amEfe OmorogbeFor: The Nigerian Music Industry Coalition
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