EVENT: NEA IS 10 YEARS OLD

In July of 2006, the first edition of the Nigeria Entertainment Awards (NEA) took place in Washington DC, USA.

The Award which was established to recognize the contributions of Nigerian and African entertainers to a new target market but instead of hosting the Awards in Nigeria which would have been the obvious choice, the organizers decided to launch it in North America with the hope that the Award will help spun and project Nigerian culture to an international audience.

Since then the Award show has been held primarily in New York City, the mecca of the entertainment industry.

Many people still question the organizers motives and why the Awards is held outside the shores of Nigeria. But one thing remains clear; NEA Awards has been very instrumental for African entertainers. It has allowed African entertainers to increase their profile in North America thereby creating demand, which today, has set the premise for many US tours and international appeal for Nigerian entertainment.

This year, the organizers of NEA Awards will host the 10th edition of the Awards.

On June 11th, 2015, the organizers will announce the nominees for the 10th edition of the show and that should get the industry buzzing.

We should support Nigerians who are promoting our local entertainment industry outside the shores of this country, these will increase the export of our music and creativity. Kudos to the organizers of this award.

Source: Pulse ng

CBN APPOINTS FIRST BANK AND UBA TO ADMINISTER N200 BILLION AGRIC FUND

The Apex bank of Nigeria and the Nigerian government has a lot of funds meant to help people start or expand an already existing business. The unfortunate thing is information about such funds is not adequately made known to Nigerians who are supposed to be the beneficiaries. On this blog, we will keep informed of every funding opportunity we know about and or will come across because information is power.
 

The Central Bank of Nigeria (CBN) has appointed two banks – First Bank of Nigeria Plc and United Bank for Africa – to administer the first phase of the special N200 billion fund set by it and the Federal Ministry of Agriculture and Water Resources to promote commercial farming in Nigeria. The two banks are to administer the fund under the Commercial Agricultural Credit Scheme (CACS) and loans granted under the scheme shall have a maximum tenor of seven (7) years. The apex bank in its guidelines for disbursement of the funds specifically noted that interest on the loans shall not exceed 9%, inclusive of all charges, and that rescheduling of repayment shall be approved only by the Project Management Committee. FirstBank has maintained a history of strong commitment to the agricultural sector. From the early days of currency distribution in support of produce trade between West Africa and Europe to its present status as a financial supermarket, FirstBank has continued to play an exemplary role in the development of the nation's agricultural and allied sectors. According to the guidelines on the administration of the fund, the minimum asset base for eligible agricultural enterprises has been fixed at between N200million and N350 million depending on whether applicant is focused on a single enterprise or is integrating various enterprises. There is also no minimum borrowing limit. Borrowers under the Scheme are Corporate and Large Scale Commercial Farm/Agro Enterprises and state governments. Corporate and large scale commercial farms could either be Integrated Large Scale Farm or Agro-based Enterprises with assets, excluding land, not less than N350million with prospects of growing the assets to N500 million within the next three years, or non-integrated Commercial Farms /Agro-enterprises with assets (excluding land) not less than N200 million with prospects of growing the assets to N350million within the next three years. All State Governments/FCT can access up to twenty percent (20%) of the N200billion (i.e. N40billion) through specialized agencies or secretariat established for the purpose of on-lending such funds to Co-operative Unions, Co-operative Societies, Self-Help Groups and Agricultural Commodities Associations in their respective states. FirstBank's agricultural financing operations under the umbrella of FarmersFirst cover a wide array of agricultural activities ranging from production to processing and marketing. The Bank’s services are designed to suit the entire range of micro, small, medium and large agricultural businesses, including Guaranteed Fund Credit (GFC), Cooperatives/Linkage Banking Scheme, FirstBank Agricultural Credit to Schools (FACTS), Industrial End-user's Outgrower Scheme, Multi-Channels Agricultural Finance Scheme (Multi-CAFS), Agricultural Produce Finance, amongst others.

CBN RELEASES GUIDELINES FOR N200 MSME FUND

The CBN N200 billion MSME fund has generated a lot of discussion but what Nigerians are not looking at is the guidelines for accessing this fund and those who have accessed the fund so far. My excitement is the percentage reserved for women entrepreneurs. Read the guidelines below and take advantage of the opportunity. I am monitoring the disbursement and will be bringing you frequent update on how this fund is used and whether is it another fund that will be unaccessible to those it is meant for

The Central Bank of Nigeria (CBN) has unveiled guidelines for the management of the N220 billion Micro, Small and Medium Enterprises (MSME) Development Fund it launched earlier in the year.

In a circular yesterday, the CBN said the fund will be managed by a Special Purpose Vehicle (SPV). It however added that the apex bank will commence the management of the fund pending the establishment and appointment of the SPV or Managing Agent.

WHEN WILL THE KILLINGS STOP IN BENUE STATE: TWO GUNMEN FEARED DEAD IN ATTACK ON BENUE OFFICIAL

TWO gunmen met their Waterloo yesterday during an attack on the convoy of officials of the Benue State Bureau for Local Government and Chieftaincy Affairs and some traditional rulers, who were on their way from Katsina-Ala town to Vandeikya LGA for the selection process of first class chiefs in the state.

The Guardian learnt from eyewitnesses that the traditional rulers and the Bureau officials were in a convoy when the gunmen suddenly opened fire on them.

But, it was gathered that the policemen on the convoy exchanged gunfire with the gunmen, killing one of the gunmen on the spot while the another member of the gang who sustained injury later died at a hospital.

Confirming the attack on the traditional rulers and the death of the gunmen, the State Police Commissioner Hyacinth Dagala said another gunmen was arrested in the process.

Sources available to The Guardian revealed that the traditional rulers were going to Vandeikya to conduct the already controversial selection of 10 first class chiefs in the state and the selection exercise, which it was gathered went on hitch-free.

Meanwhile, a statement issued by the secretary to the Tiv Area Traditional Council, Mr. Torsaa Shinyi, said the decision to unanimously appoint those chiefs was affirmed by the traditional rulers in their domain; stressing that the selection and the appointment was based on the new traditional and Chieftaincy law recently passed by the state house of assembly and assented to by the governor. Those selected and appointed include Tor Sankara, Chief Terkura Suswam, Tor Gwer, Chief Godwin Ikerever, Tor Lobi, chief Moses Anageende and Tor Kwande, chief Ambrose Iyorter.

Others are; Tor Jechira, Tergem Ugande and Tor Jemgba, chief Afatyo Ajoko. The Guardian recalls that the Governor-elect, Dr. Samuel Ortom had criticised the proposed installation of 10 first class chiefs in the state and advised governor Suswam to put the exercise on hold due to poor financial situation of the state.

Courtesy Guardian Newspaper

BENUE:IS ORTOM THE GAME CHANGER??

By Solomon Ayado

The joy that flowed across the length and breadth of the agrarian communities of Benue state when the Governor-elect, Chief Samuel Ortom of the All Progressives Congress (APC) was declared winner in the April 11 governorship election depicted a liberation of the suffering of the people. SOLOMON AYADO writes on the burden to ensure political stability and enhance rapid development

It is definitely an obvious fact that the vulnerable electorates are conversant with the stratagem of campaign promises of smart politicians who offer unrealistic manifesto during campaigns to appease for votes. The party lords build bridges where there are no streams; they shower the electorates with rare gifts, all in the sake to rate a conviction of their candidature preference.

GOVERNOR SUSWAM HAS DONE IT AGAIN

In a clear show of power, Governor Gabriel Suswam of Benue State has appointed six first class chiefs out of ten earlier proposed.

His action is contrary to the earlier verdict of the Benue State High Court presided over by the Chief Judge, Justice Iorhemen Hwande, restraining the governor and eight others from appointing first class chiefs in the state.

African Billionaire Entrepreneur and Philanthropist Speaks at President obama;s Emerging Global Entrepreneurs

Tony Elumelu to Speak as President Obama Celebrates Emerging Global Entrepreneurs Lagos, Nigeria, 07 May 2015 — African business leader and philanthropist Tony O. Elumelu CON, will speak at a White House event hosted by U.S. President Barack Obama this Monday, to celebrate emerging entrepreneurs around the globe. The May 11th event is a prelude to Obama’s scheduled trip to Kenya this summer for the Global Entrepreneurship Summit. The United Bank for Africa Chairman is no stranger to the promotion of global entrepreneurs— Elumelu’s foundation recently launched the $100 million Tony Elumelu Foundation Entrepreneurship Programme, which aims to assist in growing 10,000 start-up companies across the African continent over the next 10 years. The White House event will bring together established and emerging entrepreneurs from all over the world who can benefit from the support and commitment of investors, governments, private foundations, and individuals. Elumelu is the only non-American speaker at the event. Other speakers joining Obama and Elumelu to promote entrepreneurship at the White House event include Mark Cuban, Owner of the Dallas Mavericks;Barbara Corcoran; Founder of Barbara Corcoran Venture Partners;Daymond John, CEO and founder of FUBU — all investors on the hit ABC show Shark Tank; Antonio Gracias, Founder of Valor Equity Partners; and Julie Hanna, Founder of Kiva. The event will be streamed live on May 11th 2015, at 2.00pm EST on www.whitehouse.gov/live. I am really proud of this man cos he's doing a lot to build and empower young African entrepreneurs. Read more after the cut...