Archive for nigeriang

Asset Corporation takes off with first tranche of bond

Asset Corporation takes off with first tranche of bond

The stage is set for the revitalisation
of the Nigerian economy with the issuance of bond certificates by the
Asset Management Corporation of Nigeria (AMCON) to 21 banks.

This took place in Lagos last Friday
and signaled the transfer of non performing loans (NPLs) to the asset
company and the issuance of zero coupon bond worth N1.036 trillion to
the banks.

Aliyu Belgore, AMCON chairman, said the
bond has the guarantee of the federal government and the full support
of the executive and legislature.

“We are making history today where many
have failed or not even dared to try. AMCON will help in shoring
confidence in our banking system, reinvigorate the capital market, and
guarantee the soundness of the financial system and Nigeria’s sovereign
credit rating,” Mr. Belgore said.

The bond, which is coming with a yield
of 10.125 percent, is due in 2013. The bond was issued to the eligible
financial institutions for AMCON to acquire the eligible banks assets
comprising almost all the NPLs in the nine intervened banks as well as
margin related NPLs from the non intervened banks.

Swap with tradable bonds

Mofoluke Dosumu, executive director,
finance and operations, said the initial consideration bonds were the
first instruments rolled out to absorb the non performing loans in the
banking system.

“Within the first quarter of 2011, we
will be swapping these with another set of tradable bonds. We will be
issuing more bonds as we buy up more non performing loans, which is up
to N3 trillion in total,” Mrs. Dosunmu said in a telephone interview.

At a parley with bank executives on
December 16, she said that the essence of the intervention is to buy
the non performing loans and to cater for their capital adequacy. She
added that the liquidity of the bonds will be enhanced as it will not
only be held by banks but also fund managers, pension fund
administrators, insurance companies, trustees, and custodians.

On the valuation method, she said the
non performing loans secured without underlying collateral will be
bought at five percent of the principal sum.

“For the listed shares, it will be
valued on a 60 days average on the NSE trading platform counting back
from November 15 with a 60 percent premium on the price,” Mrs. Dosunmu
further said.

She said unlisted assets will not be taken in the first tranche of bonds to be issued.

Giant stride

Director general of the Securities and
Exchange Commission, Arunma Oteh, said the transfer of the NPLs from
the books of the banks will have positive impact on the Nigerian
capital market.

“I look forward to when the bonds will
be tradable. It is a giant stride in addressing the challenges we have
faced over the last two years. The capital market is truly an enabler
of our economy. If we have relied on oil all these years, it is time to
leverage on capital market to build businesses and boost
entrepreneurship skills of Nigerians,” Mrs. Oteh said.

The event was attended by chief
executives officers of 10 banks namely Oceanic Bank, GT Bank, Afribank,
Intercontinental, Spring, Zenith, First Bank, UBA, Union Bank, and
Ecobank. All the other banks were represented apart from Citi, Standard
Chartered, and Stanbic IBTC.

The board members of each bank has
individual and collective responsibilities for the accuracy of the
information provided, especially as regards the valuation of the assets
handed over to AMCON. AMCON will manage these assets and sell off at a
later date to recoup its investment.

In the AMCON law, which is yet to be
made public, the asset company can take over assets of bank debtors
which are not charged as collateral while banks or customers found to
have made false representation on valuation can attract a jail term of
three years or fine of N5 million.

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What’s On

What’s On

Crown Troupe: Presents Bode Osanyin’s ‘Omo Odo’ directed by Segun Adefila – Terra
Kulture, Tiamiyu Savage Street, Victoria Island, Lagos. 3pm and 6pm.
Today

The Contest: Dance production by the National Troupe of Nigeria – National Theatre, Iganmu, Lagos. Today.

ANA Lagos: Association reads in honour of late Adolphus Amasiatu – Aina Onabolu
Gallery, National Theatre, Lagos. 3pm. January 8.

Green Summary: Exhibition by nine artists- Centre for Contemporary Arts, McEwen Street, Yaba, Lagos. Till January 21.

Please send details of art events 10 days in advance by SMS (07034086014) or email: culture@234next.com

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‘Bring back the Book’: An Open Letter to the President

‘Bring back the Book’: An Open Letter to the President

I was really
excited when I got a nomination to attend an interactive session with
you. I felt it was a wonderful idea that you were spearheading a
project, to get young Nigerians reading again. To the best of my
knowledge, it is the first time a sitting president will make an effort
to interact with young people at their level. I wasn’t sure what to
expect but made a mental note to be there anyway. Registration was
slated for 12pm but since I have a very annoying habit of showing up
early when I have appointments, I made it to EKO hotel around 10.30am.

Fortunately for me, the campaign had two sessions, the morning session
for the children and the one I was nominated for which was to start by
2.30pm or thereabouts. I made my way into the hall and sat quietly.
Soon enough, You and our very own Wole Soyinka, took your seats. After
acknowledging special guests in the hall, the programme kicked off in
earnest. You read from Chinua Achebe’s ‘Chike and the River’, while
Soyinka read from his book, ‘Ake: The Years of Childhood’.

Wrong crowd

I became
uncomfortable when I noticed the caliber of students present in the
hall: Atlantic Hall, Corona School etc. Using socio-economic
classification as a parameter, most of the schools there were of the
A-B category, with maybe a few C class representatives and in my head
I’m thinking, splendid idea, wrong crowd! The children seated in that
hall most likely had enough books to make a bookseller jealous, they
could compete with their mates around the world academically and
usually travel abroad for summer.

They need very little motivation to
read. Their parents are enlightened captains of industries and would
ensure their wards get the best education money can buy. They really
don’t have any hurdles to cross. Their parents already have their wills
written out, have a robust life insurance policy to take care of
happenstance and will be buried in Vaults and Gardens when they die.

The children who
need to hear the message are students of schools like Oke-Ira Grammar
School or JSS Nyanya where you’ll find 2000 students in JSS 2 alone
with half the class sitting on the floor. After school, they don’t kick
off their boots and watch cable TV, no! Their parents are hustlers;
plantain sellers, fabric merchants, petty traders, pure water hawkers,
you name it. When they get back from school, it’s time to work. They
pick up a tray of plantain or go to the shop to help the family keep
their head above water. They are the ones that need the hope your Bring
Back the Book campaign message brings because reading is the farthest
thing on their minds; the struggle for survival saps whatever energy is
left after a hard day at school where the class teacher would rather
sell buns and tasty-time than do her job. They are the ones that drop
out after JSS 3 due to lack of funds. A message like yours will help
them hope for a better tomorrow and strive to overcome the challenges
you overcame to be where you are today.

Wrong place

I also wondered why
a campaign about books and students took place in a 5 star hotel? It
would have been perfect if you interacted with the students in their
natural habitat-the classroom. Feel the heat they have to endure when
the sun beats the zinc roof above their heads, after which a stroll to
the school library, if there is any, will show you just how much work
there is ahead of us in terms of the quality of instruction being given
and basic infrastructure development in these schools.

The interactive
session with youths was a whole lot more fun than the morning session.
From Dbanj, Mo’Cheddah to Psquare, the performances were tight. I loved
the use of ICT to link other zones within the country and also give
them a chance to be part of the event even though poor audio output
marred the effort for the most part. The integration of music and
dance, which is an effective touch-point for young people, was a good
strategy. Joe Trippi, renowned to be one of the most sought-after
political strategists in the world, was at the event. His presence
helped register at the back of my mind that indeed, this was beyond
interaction, it was part of your campaign strategy to get us on your
side; you didn’t hide what you were trying to do and I thank you for
your sincerity.

Wrong speaker

TY Bello gave a
speech; and a young lady, Nana, can’t remember her last name now, spoke
on behalf of the North. Though she made sense to some extent, I did
notice one thing though: she spoke with a distinct American accent. My
conclusion: she didn’t school in Nigeria, so she probably wouldn’t
understand sitting at home for six months while the government and ASUU
try to resolve their differences, outdated libraries still stocked with
books my father read while he studied at the same university,
disgruntled lecturers who take out their frustration on you, standing
throughout a three-hour lecture with the lecturers using a public
address system to harass your eardrums and reading from the same lesson
note he’s been using for the past eight years. She might identify with
it, but it is only him that wears the shoes that knows where it
pinches. Toyosi Akerele gave a good account of herself, she spoke
fearlessly, and had me cracking up when she said ‘Why should an
85-year-old be so bent on determining a future he will not be a part
of…’ or something like that.

After your address
at the beginning of the event, I waited throughout the event for the
interaction to take place, sadly, it didn’t. Thinking strictly from a
business perspective, you lost a vital moment to sell your brand to a
captive audience. Talking about you as a brand, I ask: what is your
USP? Why should I vote for you and not every other candidate out there
promising Eldorado? The aim of the event is to generate goodwill for
you among the youths, but you see, you’ll need a whole lot more than
goodwill for the coming election because we are tired. Tired of the
lies, the failed promises, the corruption, the ineptitude, the
sycophancy, the grab-all-you-can-while-you-can mentality of people we
have trusted to lead us; and we want change! You are going to have to
convince a very powerful segment of the Nigerian population who have
become aware of the power of their vote and have vowed to make it count
come 2011, that you are the one for the job.

Wrong books

In the goodie bag
I got at the event were two books written by authors I have never met
with storylines I struggle hard to relate to. One was about the FBI and
the other revolved around 4 U.S Navy SEALS. All I could think of was
how much money Farafina or Cassava republic or Dada Books would have
made if you had chosen instead to give everyone in that hall copies of
book published by them.

Some suggestions

By virtue of the
job that I do, I have had to travel within Nigeria extensively and have
visited secondary schools in at least 30 out of the 36 states in the
country. One of such schools was a community school in Gidan Mai Akuya,
somewhere in Lafia. It was built and managed by locals. Out of
curiosity, I visited their library and found about 20 books in a school
populated by over a thousand students; SS3 students received lectures
in Hausa even though they were preparing for WAEC. It is no surprise
that WAEC failure rate is so high.

These are the kind of schools that
will benefit most from your project. Since plans are already underway
to distribute books worth billions of naira to schools, what mechanisms
have you put in place to ensure the books get to the end users? I ask
this lest we have the problem that plagues fertilizer distribution in
the country, where the product are hoarded from the farmers and later
sold at purportedly ‘subsidised’ rates.

I’ll suggest 2 approaches:

1. Code the books,
either by states, or geo-political zones or schools. That way, it will
be easy to track if the books end up in the market or someone’s
bookshop.

2. An independent
back-checking firm should conduct an audit and evaluation of
distribution by visiting school libraries and bookshops across the
nation, either systemically or randomly. That will help measure the
effectiveness of the BBtB campaign.

I honestly believe
that young people should drive the agenda for this country. We know the
future we want to see and where we want to go, allow us help you help
us get there. That’s what friends do.

Yours,

Naomi Lucas

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Sixteen were called, eight came

Sixteen were called, eight came

The fifth edition
of the Celebrity Reads Africa project and the biggest so far, took
place on December 18 at Terra Kulture in Lagos. This special edition
was meant to be a reading as well as career mentoring programme, as
students from select schools in Lagos were expected to be at the event.

Former FCT
Minister Nasir El Rufa; journalist and presidential aspirant, Dele
Momodu; hip-hop artist, Illbliss; RnB singer, Goldie; quirky TV host,
Denrele Edun; photographer, Kelechi Amadi-Obi; and comedian, Owen Gee,
were some of the celebs billed for the event.

However, of the 16
celebrities expected at the event, only eight of them showed up. These
were: artists Illbliss and Goldie; Denrele Edun; actress, Bhaira
Mcwizu; Beat FM radio presenter, Gbemi Olateru-Olagbegi; TV presenter,
Seun Chukwuemeka; lecturer and author, Tosin Otitoju; and RnB singer,
Femi Adeyinka.

There were
students from Ace College, Ikorodu, and children from the Love On The
Streets project (LOTS), most of whom were of nursery and primary school
age.

Tosin Otitoju, a
lecturer in Engineering and Mathematics at the University of Lagos and
an author, opened the show by reading from her collection of poems,
‘Comrade’.

“I assume that in order to write, you have to read a lot,” Otitoju began.

“Reading can be an
integral part of being interesting. It helps you think. I am a lady,
and I don’t think a guy would have a chance with me if he didn’t read,”
she added humorously for the benefit of the teens in the audience.

Sex education

A spokesperson for
the initiative, Leaders with New Dimension (LEND), also chipped in some
vital information for the benefit of the teens. He read a piece about a
lad who was stunned by the news that his girlfriend was pregnant.

He asked the teens
how much they knew about their bodies. He disclosed that he works with
adolescents and that figures about the infection rate of sexually
transmitted diseases are alarming.

“Young people
should be responsible in what they do,” he advised and urged the
celebrities to talk to the students about adolescence, since they have
passed through it.

The closest anyone
came to talking about this issue was the remarkable poem recitation by
Dolapo Ogunwale. According to the poet, the poem ‘Breaking Chains’,
means letting go and not holding on to past hurts.

Bhaira Mcwizu gave
an interesting read from Asha Tyson’s ‘How I Retired At 26′. Bhaira,
who said her fondness for reading was shaped by her dotting mother,
also added that reading helped to expand her horizon. She advised the
children to make the most of their youth.

Seun Chukwuemeka,
before reading ‘Hadassah’, a work of Christian fiction by Tommy Tenney,
told the audience that the death of the reading culture is a global
phenomenon and not peculiar to Nigeria alone.

“Reading is
important. It transports you. I implore you. Start [small] and always
make sure you have a dictionary by your side,” she suggested.

Artiste Femi
Adeyinka, who is signed on to Kennis Music, told the students, “If I do
not read I cannot write my songs. I would not know certain words. I
probably could not sign a record deal and I could end up signing a bad
contract without knowing it.

“You read not just because you are in school, but because it’s an important part of life,” he added.

Singer, Goldie,
who bizarrely kept her dark glasses on even while she read, rendered an
excerpt from ‘The 50th Law’, a book by rapper, 50 Cent and writer,
Robert Greene.

“The greatest fear people have is of being themselves,” said the singer.

She went on to
name four people who stood out, by being themselves. She referred to
Microsoft founder, Bill Gates, and the originator of the social network
Facebook, Mark Zuckerberg, who were regarded as nerds at school. There
was also talk show host, Oprah Winfrey, and pop singer, Lady Gaga.

“Yes, you are in school. You wear uniforms, but you have to stand out for yourself,” Goldie told the students.

Radio presenter,
Gbemi Olateru-Olagbegi, read a humorous narrative about a lady in her
30s who is looking for a husband. She said that as a student, though,
she loved to read novels. She often got bored reading her school books
but realised that sometimes there was a price of discipline to pay for
the gains of success.

Illbliss read a proper book

Rapper Illbliss,
who came in with a huge hard cover copy of Chinua Achebe’s ‘Things Fall
Apart’ which he read from, admitted that the recent proliferation of
computer gadgets has a way of taking one away from books. He said that
at age 11 his father made him read ‘Things Fall Apart’ and summarise
it, to familiarise him with his roots. “Ensure that you read about your
history,” he said.

Denrele came in
dressed in his usual punk ensemble. He read from some random book after
revealing that he had misplaced the book ‘Dancing the Dream’ by Michael
Jackson, which he had intended to read from. Perhaps, Denrele forgot
that he already read from the same Jackson book at an earlier edition
of Celebrity Reads Africa.

Speaking about the
project, Bede Okoro, the founder and coordinator of Celebrity Reads
Africa, said the project has enabled them to form good relationships
with some schools and charity organisations in Lagos.

“2011 will see the launching of Celebrity Reads in the UK and Ghana,” he revealed.

They also intend to start a radio and television version of the project.

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How Lamido Sanusi jazzed up Calabar Carnival

How Lamido Sanusi jazzed up Calabar Carnival

This year’s Calabar
Festival climaxed on Monday, December 27 with the colourful annual
carnival, perhaps now the most famous in Nigeria. Having had the
equally spectacular children carnival and cultural parade the previous
day, it was the turn of the senior bands to dazzle spectators with
their floats, costumes and dances.

And they didn’t
disappoint. The five bands; Bayside, Masta Blasta, Seagull, Freedom and
Passion4, gave people who either sat or stood along the 12-kilometre
carnival route enough entertainment to last them till the next edition.
Thousands of people stayed to watch the procession, supposedly Africa’s
largest street party, from the start point at Millennium Park till it
terminated at dawn on Tuesday at the U. J Esuene stadium.

Governor of Cross
River State, Liyel Imoke, in the company of his wife, Bauchi State
counterpart, Isa Yuguda and Governor of the Central Bank of Nigeria,
Sanusi Lamido Sanusi amongst others flagged off the procession almost
two hours behind schedule. He later explained what caused the delay.

“The official start
time is 2pm and yesterday (Sunday) the carnival bands had problems
because of the rain. Their floats had been damaged so the heavy rain of
the night before delayed the start of the carnival. The reason the
carnival starts at 2pm is because people trek for 12 kilometres. When
they start in the hot sun, by the time they get to the end of the
carnival they are exhausted. The bands themselves prefer the evening
carnival because it is less stressful on the human body, that’s one. A
night event, especially at the stadium, showcases much better than a
day event. The colours, the lights and so on present a much more
beautiful picture to the audience.” There was, however, no stopping the
bands once the train set off. Apart from entertaining with their
dances, music and costumes, they also gave different interpretations to the theme, ‘Our Strength and Resilience: The Bedrock of our Future’.

The bands

Bayside, the first
band off the block chose to focus on ‘Pillars of our strength’. The
band which adopted a lion as its symbol showcased the agricultural,
forest, wildlife, mineral and tourism resources of Nigeria in its five
sections.

Masta Blasta chose
to play up ‘One nation, one destination’ and highlighted Nigeria’s pre
and post independence periods. The band led by Gershom Bassey also
incorporated unity into its presentations, depicting the Yoruba, Hausa
and Igbo, Nigeria’s majority groups. Masta Blasta also made a case for
conservation, dressing its king like the endangered drill monkeys found
in the state and its queen like the Euphaedra Ferruginea (Queen of the
forest), a rare specie of butterflies also resident in the state.

Though its float
wasn’t really impressive, Passion4 celebrated the Black person, family
and personalities including the Madiba, Nelson Mandela, Marcus Garvey,
Leopold Sedar Senghor and Okot P’Bitek amongst others. Seagull Band
reiterated the unity in Nigeria’s diversity, recalling Nigeria’s past,
present and tomorrow in music and costumes and other props.

The Nigerian Army,
Navy, Civil Defence and First Bank, sponsors of the carnival also
participated in the parade. While the Army Band made people dance with
its lively music, First Bank wowed many with its big and small
elephants. The bank also had a giant float decorated in its blue and
white colours.

Beyond banking

Kano prince,
Sanusi Lamido Sanusi, showed his other side during the carnival. Those
who think running the nation’s Central Bank and quarrelling with
members of the National Assembly is all the slim banker is about, are
mistaken. He also loves his culture. Sanusi facilitated the Durbar held
as part of the carnival. 23 beautifully costumed horses and riders from
Kano, Sanusi’s home state, featured in the street party.

“It took us two
days to bring the horses here from Kano,” disclosed the Shamakin (head
of servants) to Sanusi who didn’t give his name. “I feel very happy
participating in this carnival because it is an opportunity to show our
culture and see other cultures. It’s good to show people in the south
our culture but also good to see theirs because it facilitates
interaction. Culture will unite us because we will understand each
other’s culture,” he added.

Salihu Ahmad,
another of the horsemen, described his participation as a “lovely
experience.” The rider who was at the carnival last year disclosed that
the costume of each horse costs N25, 000 while a full grown horse costs
N110, 000. Ahmad added that Sanusi also rides horses and performs in
Durbars when he wishes.

It wasn’t only
Sanusi’s men that participated in the Durbar, first held last year,
however. Three of his sons, Adams, Imam and Sanusi Junior,
distinguished from the rest by their white turbans, also joined in the
colourful, happy procession. The youngest of the three brothers
reportedly kicked against being put in a bus to be taken home after the
parade, preferring instead to continue riding with the men when the
parade ended.

Mama Bakassi’s show

The leader of the
Seagull Band, Florence Ita-Giwa loves razzmatazz and has never failed
to add colour to the carnival. Mama Bakassi, as the former senator is
called, usually brings Nollywood stars to join her band and she did so
again this year. Musician, actor and winner of Big Brother Africa-the
All Stars edition, Uti Nwachukwu and comedian, Nkem Owoh, better known
as Osuofia, joined her train. Ita-Giwa’s party which also included
artists Kalu Ikeagu and Emeka Ezeocha was hailed continuously while the
parade lasted.

Passion4 rules

Though some people
had hoped that Passion4 Band, three times winner of the carnival would
not emerge tops again this year, the band eventually carried the day.
But why wouldn’t it? All the beautiful ladies in Calabar seem to be its
members. Attired in green, with some clad in skimpy shorts and tops,
the ladies probably won the judges over with their winsome smiles and
somewhat erotic dances. The band won N10m for its efforts while
Ita-Giwa’s Seagull, despite the Nollywood stars, came second. Masta
Blasta, which float was equally not very impressive came third. Both
got five and three million naira respectively.

Seagull however made up in the junior category, emerging the band of
the year and going home with one million naira. Masta Blasta was second
and Passion4 third. The bands were judged on their ability to interpret
the theme, best carnival spirit, best float and costumes.

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Nollywood and the new cinema

Nollywood and the new cinema

Nollywood is at
the threshold of a paradigm shift which may have started in 2010. Just
as 1992 is credited with the birth of Nollywood with ‘Living In
Bondage’, a modest cache of offerings on the big screen (The Figurine,
Inale, Ije, and Anchor Baby) may have started the rebirth of Nollywood.
But as to the nature of this change, it is still morning yet on
creation day.

Time will tell
whether the change is an ecdysis of the snake merely shedding its skin
or a mutation that goes down to the genes. If it is the former, there
may be nothing to cheer except the fact of the different platform –
cinema – that the movies are coming out on. But if it is the latter,
there will be lots to cheer, because it means we will be seeing changes
in the very characteristics that define (and malign) Nollywood. What
are these characteristics?

Low budgets

Budget and
gestation period are top on the list of Nollywood’s defining
parameters. Nollywood movies are low budget movies. With two million
naira, a producer can cobble together a flick. Also, the gestation
period from pre-production to marketing can be of the order of few
weeks. Somehow, the questions of budget and gestation period are
inter-connected, like an engine head and its trailer.

Low budget means
that the script cannot be properly researched or a good scriptwriter
hired. Many a time, some hare-brained storyteller is engaged and gifted
character actors are invited to listen to the story and ad-lib their
parts. Casting, set making, props and the shooting proper, all suffer
from this paucity of funding.

In contrast,
‘Inale’, one of the new films whose release signposts the new era,
reportedly cost $2.8 million (N300m) to produce. By Hollywood
standards, this figure is chicken change but in Nollywood, it is a
king’s ransom. The difference is visible in the quality of the film, to
confirm our Nigerian saying that “better soup, na money kill am.”

As for duration,
‘Ije’ took 18 months for shooting alone, with locations in Jos and the
US. This contrasts with the fortnight average duration of a shoot for
Nollywood movies.

Craft

Another parameter
to be used in evaluating how much of Nollywood is to be found in the
new cinema is in the craft. I use craft here as an omnibus word that
encompasses directing, acting, the storyline, and its treatment. As far
as acting goes, Nollywood’s best can hold the candle to the best in the
world. What is lacking is the directorial capacity to lift their game.

In many star roles
of the quartet under review, it is the self-same Nollywood actors that
put up stellar performances. Whether one is talking about ‘The
Figurine’ (Ramsey Noah, Kunle Afolayan, Omoni Oboli, etc) or ‘Ije’
(Genevieve Nnaji, Omotola Jalade Ekeinde), the story is the same. One
can, therefore, posit that the problem with Nollywood is not in the
actors but the acting (excuse the pun). This is true, especially of the
A-list actors.

Storylines

As for the
storylines, those of our normative quartet are no different from the
regular Nollywood fare. Nollywood has countless stories of mysterious
jinxes to rival ‘The Figurine’. It has done too many epics to make
‘Inale’ special just on that score. What is missing from the Nollywood
equivalents is treatment that is suspenseful and filmic. Kunle
Afolayan’s ‘The Figurine’ allows you to conjecture what is happening
with the serial prosperity followed by serial tragedies as happened in
the film.

Up until the end,
the attribution of the mystery to the figurine remains debatable. The
scientific minded would say they are mere coincidences. If the film is
watched in the downtown cinema of our growing up days which had more
rowdy audiences, you could picture the hot arguments that will erupt
between teenage friends on their way out as the lights come on. That is
the purpose of art: engendering debate.

Also the false
ending or twist in the tale of ‘Anchor Baby’ is totally unpredictable
from the beginning, unlike in Nollywood where any eight-year-old
aficionado will tell you what is to happen by merely seeing Patience
Ozokwor, Kanayo Kanayo, or Jim Iyke’s character.

Being too
loquacious, as if one were using an audio medium, has been the bane of
Nollywood. In the quartet under review, one could see glimpses of how
it should be done without the need to preach too much.

Directing

In directing, our
quartet is many notches above Nollywood standard. This is
notwithstanding the limited experience of Lonzo Nzekwe (‘Anchor Baby’).
Only in ‘Inale’ could one see a bit of the corruptive influence of
Nollywood in the perfunctorily executed wrestling scenes.

Also, the
dialogues and romantic scene featuring Odeh (Hakeem Kae Kazim) and
Inale (Caroline Chikezie) before the wrestling seem to kill the
suspense and make the outcome of the contest predictable – more like
working towards the answer. The director, Jeta Amata, cannot be excused
his playful treatment of the wrestling scenes on account of the film
being a musical. His approach seems to be that of merely dramatising
the story being told by Cameron Prozman’s character to his
granddaughter. This is faulty.

In ‘Titanic’,
which uses the same technique of flashback, the film takes a life of
its own and sucks the audience so much into the “now” as to forget it
is only a flashback. Notwithstanding this minor flaw, ‘Inale’ still
blazes a quality trail in its genre with the fragrance of Bongos
Ikwue’s songwriting prowess redolent throughout it.

Across borders

With the exception
of ‘The Figurine’, the other members of the quartet all benefited from
cross border collaborations in set design, location, cast, crew and
post-production. If they are that good, it stands to reason that
collaboration is the way to go. There has to be a trans-Atlantic
handshake for Nollywood to up its game. Nollywood collabos have been
too fixated on merely showing that an Oyinbo face or London street was
captured. The budgets obviously could not carry quality actors in the
collaborating countries.

As for the
Ghanaian actors in Nollywood, they cannot uplift any standards because
they don’t have any higher or better film culture to draw from. Those
of them that have broken into Nollywood’s A-list have no choice but to
conform to Nollywood. Inale’s casting of Hakeem Kae Kazim and Caroline
Chikezie in lead roles was a well-executed move that surely rubbed off
on the musical’s overall rating. Though Nigerians by birth, both had
made their marks in advanced film cultures and were known faces
internationally. ‘Anchor Baby’ also had Terri Oliver. Nollywood’s
casting directors must in future cast their nets wide enough to
incorporate off-shore, top-rated actors to enhance the universal
acceptance of their stories and movies.

In this, maybe
they could borrow a leaf from national football where being
foreign-based has its benefits; but film has no laws against the
nationality of the players you can use.

Offshore, onshore

However, off-shore
collaboration in acting roles should not be confused with feeding our
inferiority complex. It is not necessarily because our A-list actors
are not good enough. Neither is it about having a white face or
American accent. Film is a worldwide medium and these off-shore actors
bring cross-cultural credibility to the story.

But apart from
shopping off-shore, there is a slew of talents waiting to be challenged
in the nascent Nigerian theatre and Nigerian non-Nollywood
constituencies, including Kannywood, the Northern movie market.
Nollywood and the Nigerian stage have had only limited symbiosis.
Nothing prevents the new cinema from going a-fishing in the stage pond.
Dede Mabiaku gave a good account of himself in ‘Inale’.

Before the ink on
this piece could dry, two other big screen flicks with Nigerian, nay
Nollywood, inputs hit the cinemas. ‘Between Kings And Queens’ was made
by ex-Nollywood practitioner, Joy Dickson, and stars Jim Iyke while
‘Champion of our Time’ comes with a full cast of Nollywood stars
including Joke Silva, Segun Arinze, Ejike Asiegbu, etc. Given our zest
for following trends, one should expect a hurricane in Nigerian cinema
films in 2011. It remains to be seen whether Nollywood is merely
re-inventing itself or a totally different movement is being born.

Tighten your seat belts everybody!

Mike Ekunno is a staff of the National Film and Video Censors Board (NFVCB).

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EMAIL FROM AMERICA:Digital Native: More on navigating the new planet

EMAIL FROM AMERICA:Digital Native: More on navigating the new planet

In exile, I missed
my mother and as I confronted the reality of life in America once it
dawned on me,I knew that it would be a long time before I would hear
her voice, not to talk of seeing her face again. The tyranny of
Nigeria’s telecommunication company’s ineptitude did not help matters.

Exile was a
physical and spiritual absence from home. When I first came to America,
I could not afford a telephone, there was a Nigerian in our apartment
complex that owned one ,he also owned a car. He charged us to make and
receive calls and also charged to give us a ride to the grocery store.
That was new to me, the concept of charging someone for doing them a
favor ,I couldn’t understand it, I am a bush man. I will live in
America for hundred years and not understand some of her customs.

My first telephone
was a baby blue affair that I leased from the telephone company. In
those days you couldn’t just buy a telephone, you have to lease it, my
family did not have a telephone in Nigeria too and so on some dark days
I would clutch the receiver wondering what it would be like to hear my
mother’s voice on the other end. It is a long way since the early
eighties, I have had an Internet account since 1993 and I joined the
first ever Nigerian list-serve ‘Naijanet’ in 1994. Dayo Ogunyemi, who
was then at MIT founded Naijanet in 1991. I still have goose bumps when
I remember some of the exciting and brainy things Nigerians did on
Naijanet and its dozen or so spinoffs, some of which became powerful
vehicles for pushing the agenda of the prodemocracy movement during the
Sani Abacha years of darkness. We now have the democracy years of open
looting and darkness but that is another story.

I am a digital
native. If it is not on the Internet you really have to pay me to go
get it. I have made some of the best friends on the Internet and
whenever I meet with someone in flesh for the first time, I am reminded
of the power of the spirit. It never fails; it is always as if we have
known each other for ever. Technology also makes it easier to be in and
out of relationships because people have more options and you have to
work harder to earn their attention. The world is suffering from an
attention deficit disorder because folks are suddenly finding out that
they don’t have to be with each other when they can simply reach out to
others with their fingers. I always half-joke that when I am driving
around with my children, the car is usually overloaded with their
friends coming in to the car via their cell phones’ monitors. They are
texting nonstop. They are on Facebook constantly. There are now 500
million people on Facebook – the equivalent of a subcontinent. It is
said that all Nigerians is on Facebook and from my perch, I think it is
only a slight exaggeration. I am amazed at how much Facebook and Skype
have empowered Nigerian women and children and offered them choices and
opportunities to express themselves in ways that they never could
imagine a few years ago. It is a good thing.

What the Internet
has done for Nigerian literature is phenomenal. I am enjoying myself
immensely. Traditional Nigerian publishing is virtually comatose, its
sole purpose being to trash the dreams and aspirations of talented and
gifted Nigerian writers. It just seems that all these “publishers” do
is staple together raw manuscripts without as much as editing a single
sentence. There are bright spots like Cassava Republic but I am almost
tempted to urge Nigerian writers to stop patronizing Nigerian
publishers. The products are mostly atrocious and unreadable. Do not
judge the writers until you have seen their true works on the Internet.
On the Internet, they shine. Many scholars wax eloquent about JP
Clark-Bekederemo’s classic 1960s poem, Ibadan: “Ibadan, running splash
of rust and gold – flung and scattered among seven hills like broken
china in the sun.” I have seen Facebook status pieces that would give
that great piece a good run for its money. Word for word, Nigerian
literature is being rescued from ineptitude thanks to technology and
the great efforts of some really passionate, visionary and hard working
Nigerians and friends of Nigerian literature. Collaboration among
Nigerian writers and artists is unprecedented thanks to technology. The
world seems to be one little globe sometimes.

Most evenings our daughter and her friend do their homework in our
kitchen. They chat about things teenagers talk about. Her friend’s head
stares at us from inside a laptop on the countertop, her voice filling
the house. Skype. I wish our daughter would ask our permission before
inviting friends over. At times like that, I almost miss when I did not
have to check laptops before changing into my pajamas.

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Ayinde Barrister’s long goodbye

Ayinde Barrister’s long goodbye

Though the remains
of Fuji music legend, Sikiru Ayinde Balogun, aka Barrister, were buried
in his Isolo, Lagos sitting room, on the night of Thursday, December
30, it wasn’t exactly a unanimous decision. Barrister’s oldest child,
Dublin-based Razak, appeared not too comfortable with the idea of
burying his father that night.

“E wa ba broda mi
soro o, se o fe sun ti oku moju ni? Won ni won o ni sin won loni.”
(Come and talk to my brother, does he want to sleep next to the corpse
till day break? He is saying [Barrister] won’t be buried today), one of
the daughters of the deceased, with an Alfa (Muslim cleric) in tow,
said as she passed by.

Minutes before the
corpse eventually arrived at 24, Lamina Lawal Street, by 9.44pm,
another Alfa expressed similar sentiment, wondering why Barrister’s
firstborn, Razak, didn’t want the musician buried that night. King of
Fuji music, Wasiu Ayinde, the artistic chief mourner, reportedly, was
among those who prevailed on Razak to allow the Alfas lay Barrister to
rest.

Razak’s unhappiness
with the state of affairs, prior to the arrival of the corpse, was
evident as he seemed preoccupied with having an incidence free burial.
He politely declined to speak with reporters when accosted. “Gentlemen,
you all know what we have been waiting for since yesterday. It is when
it arrives and is laid to rest that I will be happy and you will also
be happy,” he said, promising to grant interviews as soon as the burial
was concluded.

Waiting for Barrister

The remains of
Barrister, who passed away at a London hospital on December 16, had
been delayed in the United Kingdom due to flight disruptions caused by
bad weather. Scheduled to return to Nigeria on Wednesday, December 29,
the arrival was the subject of much confusion, with spokespersons
giving conflicting information about the exact whereabouts of the
musician’s body and the Air France flight conveying it.

Thousands of fans
kept a two-day vigil at the Fuji maestro’s home as family members and
well-wishers waited, before his remains finally touched down at Murtala
Muhammed International Airport on Thursday evening.

A carnival-like
atmosphere prevailed around the deceased’s home, popularly known as
Fuji Chambers on Wednesday and Thursday. Though there was heavy police
presence on Wednesday to forestall breakdown of law and order from the
mammoth crowd, the numbers swelled on Thursday.

Men of the Lagos
State’s Kick Against Indiscipline (KAI) squad joined regular and mobile
police in controlling the crowd which filled the whole of Lamina Lawal
Street on Thursday. Some fans who couldn’t find space on the street,
found alternatives on the fences of houses close to Barrister’s while
some climbed the decked roof of a two-storey building not far from Fuji
Chambers

While only
Barrister’s music was played on Wednesday while people awaited the
corpse, there were live performances and tributes on Thursday. Smart
traders also made brisk business selling souvenirs including CDs,
calendars, fez caps and polo t-shirts to the crowd including
Barrister’s extended family from Ayeye, Ibadan; Iwo in Osun State; and
the Salawe family of Lagos.

Performances

Ewi exponent,
Sulaiman Ayilara, popularly known as Ajobiewe, paid tributes to the
deceased in rich Yoruba lyrics before Ganiyu Sebutu, one of the three
anchors, gave a lowdown of Barrister’s albums and the history behind
each. The rough talking Akinola Eko, a KAI official, and Azeez
Abdulrahman, were the other anchors.

Tessy Yembra, who
danced to Barrister’s famous ‘Fuji Garbage’ video in 1988, entertained
waiting crowds with the dance again, 22 years on. She also disclosed
how she met the late musician. They met at Club Arcade after she
returned from Madrid, Spain, before Barrister requested that she dance
in the video. Yembra, who also danced for Shina Peters and some other
musicians, described Barrister as ‘father and mentor’.

The maestro’s
military past was recalled by a trumpeter blowing ‘The Last Retreat’
before Islamic musicians started a praise and worship session
(Asikiri). The Twins Alaka from Mushin opened the session with a female
singer coming next. Kutibi Anobi, head of all Muslim singers in Isolo,
involved the crowd in his own session. Another musician, Fatai Pele,
entertained the crowd with some songs from Barrister’s 146 albums.

Waka Queen, Salawa
Abeni, who was also at the house on Wednesday, was short of words when
called to address the crowd. “We must still thank God. It was his time
to leave. May Allah grant him Aljanat,” she said. Salawa ended her
address with ‘Ori Mi Ewo Ni Nse’, an old Barrister song.

Memories

Some members of the
public also testified to Barrister’s impact on their lives. Sakinat
Ajao, who started crying before she completed her speech said, “Alhaji
made my wedding day memorable in Iwo with his performance. We were
distraught when we heard Alhaji died…”

Sekinat Popoola
Williams, who made people laugh with her somewhat affected American
accent, told the gathering of her closeness to the deceased. “It’s not
only today that we will cry for Alhaji, we won’t stop crying because of
what he stood for. Alhaji is the only one who knows how to sing my
praise; no one can do it like him. When he starts praising me, I will
just kneel down and start crying.”

Grace Modupeola
Labaran and Akeem Olanipekun, both residents in the UK, also attested
to Barrister’s sterling qualities. The duo, who were among those who
received Barrister when he arrived in London after his operation in
Germany, said they were shocked at news of his demise. Head of youth in
the area, Abdulahi Yusuf, said they will miss Barrister because he
related closely with them and was their patron.

The musicians

The clearest
indication that it would not be a repeat of Wednesday’s no-show came
around 5pm when renowned musician and Barrister’s godfather, Ebenezer
Obey, arrived with Segun Adewale. The crowd, which the bouncers and
security operatives were having a hard time with, surged on sighting
them. Adewale later told reporters that his single, ‘Tribute to Ayinde
Barrister’ was released earlier in the day. Obey said Nigerians should
not be in a hurry to know what he will do for Barrister when asked.
“I’m going to surprise the world concerning Barrister, people should
just wait.”

Other Fuji
musicians including Ayinla Kollington, Saheed Osupa, Wasiu Alabi
Pasuma, Abass Akande Obesere, Sulaiman Adio Atawewe, and Askari Fuji
started arriving thereafter. Also in the train were Dele Abiodun, Shina
Akanni Scorpido, and Ayeloyun.

Some Alfas carrying
mats started sweeping the frontage of the house, which people were
still struggling to enter, around 8.54pm before the corpse was brought
in at 9.44pm. While the widows, children, and other relatives started
moving closer before the Alfas started praying over Barrister’s
remains, the pushing and shoving by the crowd struggling to get a
glimpse of the corpse intensified. Organisers were left no choice but
to shut the gates to the house.

Meanwhile,
relatives and others, who couldn’t hold themselves any longer, broke
down weeping. Husband to Barry Made, Barrister’s daughter, who sat on
top of Barrister’s Hummer jeep parked inside the house, kept repeating
‘Lai lahi…” Saheed Osupa, who had earlier betrayed emotions, also
joined those preventing the shoving crowd from disturbing the praying
clerics.

The corpse, which was still unpacked during the prayer session, was
lifted and taken into the sitting room for burial around 10.03pm,
finally closing the chapter on the life and times of Sikiru Ayinde
Balogun.

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Ten years of underachievement

Ten years of underachievement

The decade that began in 1990 and ended in 2000 was a period of boon for Nigerian sports.

In that period,
which had begun rather tamely with the country winning a bronze medal
at the 1992 Africa Cup of Nations in Senegal, Nigeria went on to record
its biggest sporting successes on the international sporting arena.

In football,
Nigeria’s senior men’s football team, the Super Eagles became one of
the most feared teams in world football after winning the Africa Cup of
Nations in Tunisia in 1994 and wowing spectators with its delectable
brand of football at the World Cup where it narrowly missed out on a
quarter-final berth after falling 2-1 to Italy. It finished the year
ranked the fifth best team in the world.

Two years later,
Nigeria’s U-23 men’s football team shocked the world at the Atlanta
1996 Olympics when it scalped world football powers, Brazil and
Argentina on its way to winning gold in the football event.

Years of triumph

In the 1990s,
Nigerian athletics, which had been flowering in the 1980s with the
exploits of athletes like Innocent Egbunike, Chidi Imoh, Mary Onyali,
Olapade Adenekan, Ajayi Agbebaku, Falilat Ogunkoya, Fatima Yusuf,
Adewale Olukoju and the Ezinwa brothers, Davidson and Osmond, reached
its apogee with Chioma Ajunwa leaping to gold in Long Jump at the
Atlanta Games on August 2. That medal, which came twenty-four hours
before the gold in men’s football, marked the first time Nigeria would
be winning a gold medal in its forty-four years of participation at the
Olympics.

Atlanta was to
prove a watershed for Nigerian athletics with our athletes winning a
total of one gold, one silver and two bronze medals. It was arguably
our best outing at the Olympics. The closest we have come since was at
the Sydney Olympics where we won one gold and three silver medals, the
gold coming by default after the United States of America, which beat
Nigeria to the gold in the men’s 4x400m had the medal withdrawn
following revelations that some of its athletes who competed in that
race had used performance enhancing drugs.

Duncan Dokiwari’s
bronze medal in Men’s Super Heavyweight boxing event at Atlanta
completed a memorable Olympics for Nigeria, its best performance in
four decades and the best overall since.

The 1990s ended
with Nigeria winning one silver and one bronze medal at the 1999
edition of the Athletics World Championship, which held in Seville,
Spain. Glory Alozie grabbed the silver in the women’s 100 metres
hurdles while Francis Obikwelu coasted to bronze in the men’s 200
metres. Both athletes were to dump Nigeria for Spain and Portugal
shortly after.

Downward spiral

If the decade that
ended in 2000 had been a glorious one for Nigeria sports, the one that
has just ended cannot be said to have been altogether successful for
the country. While there may have been spurts of brilliance and
achievement by Nigerian sportsmen and women, the nation’s overall
impact in global sports diminished considerably.

In athletics,
Nigeria, which used to hold its own against world powers like the USA,
and Britain found itself playing catch up with countries like China and
Japan, which were once considered outsiders.

At the Athletics
World Championships for instance, Nigeria has failed to land a single
medal since Alozie and Obikwelu put us on the medals table in 1999. The
stark reality is that Nigeria, which between the first edition in
Helsinki, Finland in 1983 and the Seville edition in 1999 chalked up
three silver medals and two bronze, has failed to get on the medals
podium in the last five editions.

By contrast,
African countries like Kenya and Ethiopia which are considerably poorer
than Nigeria in terms of financial resources and pool of talent, have
between them won 79 medals in the last five editions with Kenya
recording 15 gold, 14 silver and 14 bronze medals and Ethiopia chalking
up 13 gold, 12 silver and 11 bronze medals. It has been the same story
at the Olympics. Since 2000 Nigeria has only won two bronze medals in
athletics both of them coming in the relays at the Athens 2004 Olympics.

In football, the
story has been worse. Nigeria, which in the mid 1990s exerted
continental dominance in football and was dreaded globally, lost its
pre-eminent position in Africa and became cannon fodder for teams
outside the African continent. Its senior national team, the Super
Eagles in the last four editions of the Africa Cup of Nations managed
three semi-final finishes and a quarter-final ouster at the 2008
edition in Ghana under the guidance of German coach, Berti Vogts.

Drain pipe

The Eagles
performance reached its nadir at last year’s World Cup in South Africa
where it failed to advance to the second round of the tournament
despite being presented with a golden opportunity to do so. That
performance rankled Nigerians and led to calls for the disbandment of
the squad.

While exact figures
cannot be produced, it is obvious from amounts bandied in the media as
having been spent on preparing the team for tournaments that the Super
Eagles have cost Nigeria billions of naira in the last ten years with
little to show for it.

“The Eagles have
not justified the billions spent on them. The last time we won
something good… was in 1994 when they won the Africa Cup of Nations
and played at World Cup in the USA. All they have given us in the last
16 years have been bronze medals,“ said Harrison Jalla, President of
the National Association of Nigerian Footballers (NANF).

At club football
level, the game has remained rooted in mediocrity with
maladministration making nonsense of efforts by footballers playing on
the local scene, to put up decent performances.

Today, eleven years
after the professional league kicked off not one single club is
privately owned. All of them with their managements largely controlled
by cronies of the governors whose states fund them, struggle with the
payment of players’ salaries and allowances.

Internationally,
these clubs struggle to make an impact in continental club competitions
with our biggest achievement at club level in the last ten years being
Enyimba FC of Aba’s back to back victories in the Confederation of
African Football (CAF) Champions League in 2003 and 2004. Sadly, that
club, which made around $2 million from those victories, finds it
difficult today to pay players’ wages and allowances.

That should hardly
be a surprise anyway given that even the Nigeria Premier League (NPL),
the body saddled with the task of ensuring the league runs smoothly, is
itself far from organised. It has been unable to justify the N3 billion
sponsorship fund meant for running of the league. At the moment, the
body is mired in crises with its leadership being fired last week by
the executive committee of the Nigeria Football Federation (NFF)
following its inability to resolves the conflict emanating from its
election into office. Aside, the sack of its leadership, the NPL is
coping with two cases in court, one instituted by it against former
league sponsors, Globacom over the latter’s refusal to release the last
batch of funds under its sponsorship agreement and the other instituted
against the NPL by Globacom for handing rival telecommunications
company, MTN, league sponsorship rights three weeks ago.

Generally, Nigeria’s saving grace in football in the last ten years has been the performance of its women.

Despite being
repeatedly treated shabbily by Nigeria’s football managers, Nigerian
ladies have remained a source of pride to the country. The Super
Falcons, our senior women’s national team, has dominated women’s
football in a way that no other team on the continent has. Of the five
editions of the Africa Women’s Championships, which held in the last
ten years, the Falcons won four-2000, 2002, 2004, 2006 and 2010 –
making them the undisputed leaders on the continent.

More blues

Aside football and
athletics, there was marked decline in other sports with Nigeria ceding
authority in events like boxing and table tennis, which in the past had
earned it global renown. In boxing, the exploits of former professional
and amateur pugilists like Dick “Tiger” Ihetu, Hogan “kid” Bassey
Nojeem Maiyegun, Obisia Nwankpa, Abraham “Assassin” Tonica, Hogan “
Atomic Bomb” Jimoh, Joe Lasisi, Eddie Ndukwu, Tony and Davidson Andeh,
Billy Famous, Dele Jonathan, Peter Konyegwachie, Christopher Ossai and
Jeremiah Okorodudu etc, failed to inspire a new generation of fighters
to glory.

Our performance in
the sport in the last decade has been abysmal to say the least,
reaching its lowest at last year’s Commonwealth Games in India where
our boxers were battered to submission in all their bouts. Rather than
return from the games with medals as was the case in previous
competitions, our boxers and officials came back empty-handed engaging
in recrimination and counter recrimination.

In table tennis,
our players also lost considerable ground with most of them dropping
out of the international ranking system; the same was the case for
tennis.

A harvest of ministers

One of the factors
responsible for Nigeria’s decline in global sports has been identified
as the instability of leadership in the sports establishment coupled
with what observers see as the lack of properly defined structures and
functions for the National Sports Commission, which despite being the
country’s sports governing body, is not backed up by an enabling law.

Figures show that
between 2000 and 2010, Nigeria had a total of 11 ministers of sports-
Damishi Sango, Ishaya Mark Aku, Steven Akiga, Musa Mohammed, Samaila
Sambawa, Bawa Kaoje, Abdulrahman Gima, Alhassan Zaku, Sani Ndanusa,
Ibrahim Bio and Taoheed Adedoja.

With eleven
ministers taking charge of the sports ministry in ten years, the
articulation of long term development strategies have proved difficult.
Matters have not been helped by the fact that the bulk of the ministers
had practically no understanding of the terrain into which they had
been thrust and had absolutely no desire to learn on the job. This
coupled with a clear absence of administrative acumen on their part
meant that no meaningful development could take place. These ministers
who were largely loyal members of the party in power at the federal
level of government were thus open to manipulation by crafty career
civil servants who had spent decades in the ministry and knew how to
“tweak” the system for their benefit.

“It is simply
unacceptable to have an average of one minister of sports a year for a
ten-year period. Look at the last Minister of Sports, he stayed for
just eight months and then jumped ship to pursue his political
ambition. Now, a new minister has been appointed. How can development
take place under such an arrangement,” says Dan Ngerem, a former
President of the Athletics Federation of Nigeria (AFN).

He says this situation coupled with the absence of a clear policy framework is “recipe for disaster”.

“We are not true to
ourselves. Nothing has really changed in the last ten years. Managers
of our sports have hidden under the umbrella of the deplorable state of
affairs in Nigeria to excuse their non-performance. I beg to disagree.
We could have done better and can certainly do better,” Ngerem said.

He noted that the way out of the morass that sports has found itself in the last ten years is straight forward.

“Government should
allow sports to thrive on its own. It is misleading and mischievous for
people to think that sports will die in Nigeria without government
funding. A few years ago we had a public -private partnership
arrangement, that’s talking about the Team Nigeria.

They killed that programme and did not put any in its place. We must
go back to it. The private sector is willing to inject money into
sports but is being held back by the lack of accountability and
transparency of our sports administrators.”

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Woods still the game’s biggest earner

Woods still the game’s biggest earner

Tiger Woods has
once again ended a calendar year as golf’s top earner, despite
suffering a pay cut of $48 million after losing his swing and his
marriage and failing to win a single tournament.

The American world
number two, who celebrated his 35th birthday on Thursday, topped Golf
Digest magazine’s annual list for 2010 with overall earnings of $74.2
million.

Of that, only $2.29
million came from tournament purses with the rest accumulated
off-course through endorsements and appearance fees.

Fellow American
Phil Mickelson was second with total earnings of $40.18 million,
followed by Arnold Palmer, Greg Norman fourth and Jack Nicklaus fifth.

Jim Furyk, who
collected a $10 million bonus for winning the PGA Tour’s season-long
FedExCup in September, was sixth on $23.58 million.

Other players
featuring in the top 50 included South Africans Ernie Els seventh and
Gary Player eighth, Britain’s Lee Westwood ninth and Ireland’s Padraig
Harrington.

Overall earnings
were compiled by Golf Digest through interviews with agents, players,
executives of companies involved with endorsements, industry analysts
and also via the official money lists of the leading professional tours.

In 2009, Woods led
the standings with a mind-boggling $121.9 million but his earnings have
dipped following his unexpected fall from grace after being engulfed by
a sex scandal.

The 14-times major
champion spent much of 2010 unsuccessfully trying to repair his
marriage and also undergoing the fourth swing change of his career.

His troubles led
such firms as AT&T and Accenture to end sponsorship deals, costing
Woods up to $35 million in annual revenue.

He ended his PGA
Tour season without a single title for the first time since he turned
professional in 1996 and was deposed as world number one by Britain’s
Lee Westwood on November 1.

However, since
Woods joined forces with Canadian swing coach Sean Foley after the PGA
Championship in August, his form has steadily improved and he remains
the biggest drawcard in the game.

He is still paid more than $60 million annually by Nike,

Electronic Arts,
Procter & Gamble’s Gillette, Berkshire Hathaway’s NetJets unit,
LVMH Moet Hennessy Louis Vuitton’s Tag Heuer, Upper Deck and TLC Laser
Vision Centers.

Pull quotes: only $2.29 million came from tournament purses with the
rest accumulated off-course through endorsements and appearance fees

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