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Germany Expresses Interest in Digitisation of Nigerian Film

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  • Germany Expresses Interest in Digitisation of Nigerian Film

The German Embassy has expressed special interest in a Nigerian film, Shehu Umar, domiciled in the National Film Video and Sound Archive of the Nigerian Film Corporation (NFC).

Shehu Umar was the protagonist in a book written in 1966 about slavery by Nigeria’s Prime Minister in the First Republic, the late Sir Tafawa Balewa, but was published in 1971.

The book was adapted for a film by Adamu Halilu, a former general manager of the Nigerian Film Corporation.

The embassy has, therefore, sought to restore and digitalise the film in line with modern technological advancement, using the expertise of the Arsenal Institute of Film and Video Archives Berlin, Germany, and subsequently screen it at the 2018 Berlin Film Festival, and thereafter across Nigeria.

The German Embassy’s interest in the film stemmed from its storyline, the rich Nigerian culture it portrays in addition to the dexterity and creativity of its production.

Since the film is damaged and in celluloid form, in line with the existing bilateral relationship between Nigeria and Germany, the German Embassy formally expressed interest in it to the Minister of Information and Culture, Alhaji Lai Mohammed.

According to a statement issued by the Public Relations Officer, NFC, Abuja Zonal Office, Mrs. Juliet Archibong, the minister, while demonstrating his keen interest in the creative industry as a potential revenue-generating and job-creating hub promptly approved the release of the film and the attendant terms and conditions attached to its release as recommended by the NFC.

“These terms and conditions include the ultimate protection of the rights of Nigeria to the film, the repatriation of any financial benefit accruing from the screening of the film and the transfer of the restoration and digitisation technology to Nigeria through the training of staff of the archive who would be invited to Germany to witness the rounding off of the restoration and digitisation process and the eventual screening of Shehu Umar.

“During a visit recently by the Arsenal Institute, a representative of the institute, Mrs. Stephanie Schulte Strathaus, informed the meeting that work had started in earnest on the restoration and digitisation of Shehu Umar and announced a donation of a film scanner to the National Film Video and Sound Archive.

“The cost of the scanner which was funded by the German Embassy is put at about 60,000 euros. The cost of shipping the scanner, installation and computer software would be borne by the German Embassy,” the statement added.

It stressed that Markus Ruff, also of the Arsenal Institute, hinted that on their visit to the National Film Video and Sound Archive, they had discovered other films like Kanta of Kebbi, Sand of Pride, Oba of Benin and Kubla No Barna, adding that the institute was interested in getting to know more about these films for possible restoration and digitisation.

Commenting, the NFC Managing Director and custodian of the film, Shehu Umar, Dr. Chidia Maduekwe, thanked the delegates for their visit and interest in the film and the Nigerian culture, adding that he strongly believed that there would be many more areas of collaboration between Nigeria and Germany.

He noted that the NFC would transfer all its celluloid films from the Lagos zonal office to the National Film Video and Sound Archive in Jos for proper preservation and future digitisation.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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