Archive for nigeriang

Ibru’s assets to recapitalise Oceanic Bank, says CBN

Ibru’s assets to recapitalise Oceanic Bank, says CBN

The
assets recovered from Cecilia Ibru, the former chief executive officer
of Oceanic Bank, one of the banks found insolvent after the Central
Bank’s special audit last year, would help in refunding the bailout
funds injected into the bank by the CBN and help recapitalise the bank,
the Central Bank said at the weekend.

Mrs.
Ibru was last Friday convicted and sentenced to six months imprisonment
on a three-count charge of negligence, reckless grants of facilities
running into billions of dollars, and mismanagement of depository funds
by a Federal High Court sitting in Lagos. She is also to forfeit assets
and shares, contained in a schedule submitted to the court, worth N191
billion.

The
head, corporate affairs department of the bank, Mohammed Abdullahi,
also said the Asset Management Company would help manage the recovered
assets.

“As
you know, by the order of the court, the assets confiscated from Mrs.
Ibru will be transfered to and managed by the Asset Management
Corporation (AMCON) who will take the necessary steps,” Mr. Abdullahi
said.

“The
role of the AMCON is to assist in the recapitalication of the banks by
absorbing some of the toxic assets found to have been responsible for
the problems faced by the banks we had to intervene in,” he added.

Mr.
Abdullahi said the decision of the court regarding the transfer of the
assets to AMCON is clear. He said proceeds from whatever assets AMCON
would get “will now form part of the funds that are expected to be
refunded by the bank to the Central Bank, speaking specifically on the
N100 billion that was injected into the bank by the Central Bank last
year. We also believe that the assets should also assist in the
recapitalisation of the bank, to survive its present challenges.”

According
to him, the Central Bank is pleased with the decision of the court and
believes it is a vindication of the examination results of the special
audit carried out by the Central Bank and the Nigeria Deposit Insurance
Corporation (NDIC).

“We
are very happy that this decision has taken place, and it is a pointer
regarding what to expect as the determination of the Central Bank to
cleanse the banking sector and ensure that corrupt practices are not
only prevented from happening, but that those found responsible are
made to face the law, rather than walk away freely with their loot,” he
said.

Outstanding court cases

The
Central Bank’s spokesperson said the outstanding court cases are being
vigorously pursued by the EFCC, and a prosecution team has been set up
to handle the cases.

“Based
on the fact that the same examination conducted by the NDIC and the CBN
found similar infractions against those that are still in court, we are
hoping that the cases would take their due course and at the end of the
day, all the other MDs would face the music in the same way that Mrs.
Ibru is facing hers now, if they are found guilty,” he said.

Significance of the ruling

The
Central Bank said the significance of this decision on the ongoing
banking reforms is the vindication of the Central Bank and the NDIC.

“In
the process of these reforms, the Central Bank and its leadership have
been accused of regional, religious and even personal agenda, as
reasons for embarking on these reforms. This ruling has, therefore,
made a lie of all the allegations.

“I
also believe that it has given an impetus to the dedication of the
leadership of the Central Bank to ensure that depositors funds are
protected and all those who dipped their hands into funds given to them
on trust would never get away, but would face the music, no matter
their position in the society,” Mr. Abdullahi said.

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Increased dollar buying weakens the Kenya shilling

Increased dollar buying weakens the Kenya shilling

A rising Kenyan
import bill is an important factor behind increased central bank dollar
buying and there is no intention to intervene to influence the value of
the shilling, the head of the central bank said on Saturday.

Foreign exchange
dealers have grumbled that fundamentals dictate the shilling should be
stronger, but that central bank purchases of foreign currency have
capped its gains.

“Dollar purchases
are to protect reserves and to build up reserves, not just for fun,”
central bank governor, Njuguna Ndung’u told Reuters on the sidelines of
the International Monetary Fund and World Bank meetings in Washington.

“Our import bills have risen significantly to slightly over $1
billion a month, so it means that keeping four months of import cover
means being in the neighbourhood of $4 billion,” Mr. Ndung’u said.

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Egypt inflation rises by 11 percent

Egypt inflation rises by 11 percent

Urban consumer
inflation in Egypt inched up to 11.0 percent in the 12 months to
September, from 10.9 percent in the year to August, the state-run
CAPMAS statistics agency said on its website on Sunday.

Nine analysts
forecast an average of 11.12 percent for urban inflation – the most
closely watched indicator of prices. Forecasts ranged from 9.6 percent
to 12.9 percent.

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Africa currency management improves

Africa currency management improves

African states
rebounding from the global downturn are far better placed than in the
past to ensure currencies do not become overvalued and damage
competitiveness, a top World Bank official said on Saturday.

World Bank managing
director, Ngozi Okonjo-Iweala, said, however, that rising capital
inflows could become a concern as African countries attract more money
from short-term investors seeking higher returns.

Global currency
tensions are at the center of discussions at meetings of the
International Monetary Fund and World Bank in Washington this weekend.

“The continent has
implemented remarkably sensible policies. Fiscally, they’ve been
responsible. Exchange rate management has been reasonable. People have
learned the lessons of overvaluation in the past,” Okonjo-Iweala told
Reuters.

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Stock Exchange records mixed trading performances

Stock Exchange records mixed trading performances

Performances on the
floor of the Nigerian Stock Exchange (NSE) during the week were mixed,
as the NSE All-Share Index (ASI) had three bullish days and two days
bow to the bear’s call. The bull(s) return during the previous week was
strong and boosted investors’ portfolio to appreciable profit levels.
This in-turn led to short profit taking activities, which saw the
market down between the third and fourth trading day of the week.

In all, NSE ASI
wrapped up the week slightly above the opening point by 3.17% or 721.81
points to close at 23,772.40 points, from 23,050.59. Market
capitalization closed at N5.825 trillion.

Four of the five
sectoral indicators closed the week above their various opening
figures. NSE-Food/Beverages were up by 17.28 points or 2.43% and close
with 735.30. NSE-Banking appreciated by 17.35 points or 5.2%,
NSE-Insurance headed north by 13.63 points or 9.3% at 154.87.

NSE 30 gained 30.54 points or 3.19% to close at 1,007.34, while NSE-Oil/Gas dipped by 4.96 points or 1.51% to close at 154.87.

Activities review

The stock market
recorded a turnover of 2.05 billion shares valued at N18 billion. The
said volume was moved in 28,785 transactions. The banking sector top
volume performance with 1.15 billion shares that were boosted by volume
on the shares of Diamond Bank, Access Bank, Guaranty Trust Bank, First
Bank of Nigeria Plc, and First City Monument Bank Plc. The insurance
subsector followed on the performance chart with 372.43 million shares
traded in 971 transactions.

The 47 stocks that
appreciated traded a total of1.277 billion shares, same as 62.33% of
market volume, 31 equities dipped and they moved 325.58 million units
of shares that accounted for 16% of total volume traded on all equities
through the week. Meanwhile, 123 companies ended the week’s
transactions on a flat note; volume traded by those stocks is
equivalent to 21.78% of the total market volume.

Technical view

R-squared, a
measure of portfolio performance, is currently at an extreme low. This
indicates that there is no strong trend in-tact. This value should
increase soon. When it does, there is likely to be a new short term
trend. The current slope of the close is positive, moving higher,
indicating strength of the medium term uptrend.

The standard error
is 565.237; at this level, there is much higher than normal volatility
around the current trend and traders are probably not in general
agreement, not allowing the indicator to trend easily. The price is
probably not following the regression slope well.

Report on the OTC market for FGN Bonds

A total turnover of
248.9 million units valued at N243.41 billion in 1,940 deals was
transacted last week, in contrast to a total of 332.8 million units
worth N317.95 billion exchanged in 2,864 deals during the week ended
Wednesday, September 29, 2010.

The most active
bond (measured by turnover volume) was the 10.00% FGN July 2030 series,
with a traded volume of 44.9 million units valued at N37.78 billion in
383 deals. This was immediately followed by 10.5% FGN May 2012 series,
with a traded volume of 43.3 million units valued at N46.65 billion in
388 deals.

Seventeen (17) of
the available thirty-six (36) FGN Bonds were traded last week, compared
with eleven (11) recorded a fortnight ago.

Corporate actions reported in the week ended

In the week under
review, the market witnessed avalanche of reported audited results for
belated period ended December 31, 2010. Few were for the periods ended
March 31, 2010 (Neimeth Int’l Plc & Chellarams Plc) and July 31,
2010 (Ellah Lakes Plc).

These results were
released in an effort to beat Nigerian Stock Exchange (NSE) hammer on
quoted companies that are yet to report their audited results for
period ended December 31, 2009. Analysis of few of the results is shown
below, while lead operations figures are reflected in the table below.

NIEMETH INT’L PLC

Neimeth Int’l Plc,
a healthcare company with specialty in production and marketing of
pharmaceutical products released its Q4 results for FY ended March 31,
2010.

Close observation
and computations of figures revealed that the company remained in the
wood. Gross revenue (TO) only managed a fractional growth of 1.2% at
N1.89 billion, against N1.87 billion in comparable period 2009.

On the profit line,
all other indicators returned negative figures. Both PBT and PAT
declined by 71% and 72.3% respectively. This resulted to negative
earnings, meaning the company will recourse to its reserve to finance
its major activities in the current fiscal year (2010/2011). Figures
computed at this instance were: loss per share (LPS) 7 kobo, loss
(profit) margin of 6.67%.

Shareholders’ equity equally lost 11.3% from N1.072 billion, in a similar period 2009.

Observation: This is a poor corporate performance. It has been consolidated for the second time in a row.

Dividend payment will not be considered here. We do not expect price appreciation on this stock in meantime.

STACO INSURANCE PLC

Indemnity covering
company, Staco Insurance Plc, joined league of companies that made
their corporate files available in the market last week. Though this
belated Q4 report saw manageable growth at the top line, it turned
mixed and docile at the bottom line. Turnover recorded improved growth
of 15.6% at N5.06 billion over N4.38 billion posted in similar period
2008.

Profitability
indexes returned lower figures, compared to 2008. PBT dipped by 13.6%
at N538.41 million, so was PAT with 20.1% dip over N546.42 million in
2008. As the bottom lines dipped, computed earnings ratios equally
reflected lower figures. EPS lost 25% of its 10 kobo in FY 2008 at FY
2009’s 8 kobo. This resulted to earning yield of 16%.

PE multiple of 6.25 appears attractive. Return on stakeholder equity (ROE) is 9% while profit margin stood at 8.6%.

Observation:
Performances wise, bottom lines fared poor against FY 2008 figures.
Recall that in FY 2008, the company paid 2 kobo and 1 for 10 bonus
incentive. If at all anything will be paid here, it will be cash
dividend. But the directors have not disclosed anything yet.

The stock looks attractive at its current price, only that the insurance industry remains a skeptic zone for now.

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FINANCIAL MATTERS:Politics and the economy

FINANCIAL MATTERS:Politics and the economy

In the four years
to 2003, output growth in Nigeria averaged about 4% (then considered a
significant increase on the 2.8% rate of growth recorded in the 1990s).
Some of this increase came from a more stable environment, as the
economy adjusted to the new democracy. With a parliament looking over
the shoulders of the executive arm of government, most economic units
were at least assured that the policy environment was going to be less
volatile than was the case under the opaque workings of military rule.

Therefore, even in
the absence of new entrepreneurial effort, growth could and did feed
off the new optimism. Still, this was nowhere near the dividends we had
been told would accrue to us from the transition to democratic rule.
The NEEDS document duly argued in 2005, that in order to reduce poverty
in the country, the economy had to grow by “at least 7-8% annually”.

This was before a
rash of reforms by the Obasanjo administration boosted entrepreneurial
activity in certain sectors of the economy. The telecommunications
sector is arguably the poster child of that period. By the time the
Obasanjo administration left office, the NEEDS growth target had been
breached.

But instead of the
new growth levels being driven by inflows of new capital and investment
funds, revenue over-performance (with oil prices nudging new highs)
drove the new output levels.

A democratic
caudillo imposed his will on fractious sub-national governments, and
through the “excess crude account” threatened to address the volatility
that has dogged public expenditure management in the country, since the
economy became addicted to crude oil-based revenues. Unfortunately, the
absence of policy coherence between sub-national political units and
the government at the centre required institutional responses, if the
national plan and budgeting processes were to have any meaning.

It is fair to
assume that at some point, the Obasanjo administration reached its
frontiers as an agent of reform, for even it could not find the
political will to follow through the logic of its new policy choices.
Ought the electorate to hold this failure against that government? Yes;
and no!

Yes, because owing
to the popular nature of the processes by which that government came
into office, even the stars were aligned in its favour. The people were
worn to the bone from the epic effort that was needed to oust the
military. The “forces of reaction” were even worse off. With their
backs to the wall, we awaited with baited breath our new government’s
administration of the coup de grace. This didn’t happen, however,
because the Obasanjo administration was handicapped by a congenital
defect. The selfsame circumstances of its birth were a real and present
constraint.

Thus, we were still
waiting for the telling blow to the interest groups whose choices had
held back the commonweal for decades, when the Yar’Adua government
assumed office. Upside claims for this administration notwithstanding,
it remains something of an enigma. History may yet judge it well, but
it only managed stasis everywhere.

Bereft of a real
change agenda, it was able to maintain growth rates at the 7% level
reached by the Obasanjo administration only by drawing down on the
savings set aside by the latter. The more ravenously it dipped into the
pool of savings, the more aggressively it drove up government
consumption as a share of domestic output; and at the expense of both
private consumption, and investment by businesses in expanding or
building new capacity.

Consequently, we
have had four years of growth without new jobs being created. Nothing
wrong with all of these in a democracy. If nothing else, the four-year
cycle affords the electorate the opportunity to turf out perspectives
that they find incongruent with their needs.

Surprising
therefore, that the stories coming out of the campaign headquarters of
would-be candidates in next year’s presidential elections
unconscionably rehash old platitudes. From IBB, through Nuhu Ribadu, to
Goodluck Jonathan, we hear of projects to return Nigeria to its past
(?) glory.

Nothing, alas, is
said about the particulars of these projects. How much of it would be
because of new funding initiatives in education? How much because we
would be investing in new infrastructure? And how much because we would
change the way government is run?

How would the projects be sequenced? And where will the much-needed funding come from? Not a squeak from anybody!

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ON THE WATCH

ON THE WATCH

Stephen Davis

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Frankly Speaking

Frankly Speaking

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Uchena Ikonne, renaissance man

Uchena Ikonne, renaissance man

Uchenna Ikonne
could be described as a walking encyclopedia of some sort because of
his knowledge of the history of Nigerian music. Based in the United
States, he is a filmmaker by vocation and a lawyer by training, but his
consuming passion is Nigerian music. Ikonne is currently working on
reissuing a lot of Nigerian classic songs under his label, Comb &
Razor Sound. He shares his story with NEXT.

With your knowledge of Nigerian music classics, many would be shocked to realise that you are only 35 years old

That does often
take people by surprise. I’m primarily known as an online presence,
chiefly for my writing on my blog (http://combandrazor.blogspot.com),
so most people have no idea of my background, age, or appearance. They
generally expect me to be much older than I am because I’m writing
about Nigerian music and popular culture of the 1960s, 70s, and 80s;
and they’re often alarmed to learn that I’m in my 30s.

The funny thing
about it is that I have spent a lot of time interviewing musicians from
that era, and even when I’m sitting with them face-to-face, they still
forget how old I am. Like, we’ll be discussing some events that
happened immediately after the civil war, and they’ll say to me, “Shey,
you know that nightclub we used to go to in Port Harcourt… You remember
when so-and-so played there one Friday night like that in 1971. Were
you there that night?”

When stuff like
that happens, I’m not quite sure how to process it: do I take it as a
compliment that I appear so knowledgeable of the era that they forget I
wasn’t there? Or does it mean that hard life has aged me to the point
that men in their 50s and 60s can look at me and think I am their age
mate?

Do Nigerian youth know enough about Nigerian songs of old?

I would not even be
exaggerating if I said that many of our youth actually believe that the
Nigerian music industry started in 1998 or so. They realise that yes,
there must have been music in Nigeria “back in da dayz” – but they
think that maybe we only had a handful of artists: Fela, Osadebe, Sonny
Okosuns, Onyeka, maybe Evi-Edna, and a few other really popular names
like that. I am not playing!

I have had many
young people express this to me directly! But what’s curious is that a
lot of times, even Nigerians who are old enough to remember better have
completely forgotten most of the music of the past; cultural amnesia is
an epidemic in our society, and that’s a shame.

Tell us why you decided to embark on this task

If I didn’t do it,
who would? Well, the main thing I am working on right now is the Comb
& Razor Sound record label, which will be reissuing a lot of
classic music from Nigeria, as well as other countries in Africa and
South America.

I’m trying to make
it so that our releases are more like “publications”—big booklets full
of historical information, stories, and photographs with a CD attached
to them.

Because really,
people aren’t that interested in just buying CDs anymore and CDs are
too easily pirated, anyway. You have to give them the value for their
money. We’ll also be releasing the music on vinyl records, which
happens to be my preferred format.

You recently embarked on a trip to Nigeria to get more information; were there any challenges?

The number one
challenge is always the relative inaccessibility of the information.
It’s not like you can just walk into a library or something and
comfortably find information. You have to dig for it. And frankly, not
a lot of people have the stamina or resourcefulness to do that.

I remember when I first started telling people in Nigeria that I am looking for old records and stuff like that.

They told me, “You
can’t find that kind of thing in Nigeria today.” My reply was “No, you
mean YOU can’t find it… I can!” And they would say “Ha! You won’t see
that sort of thing in the market o!” The market? Are you kidding? Who
is looking at the market? To find this stuff, you need to go ‘under’
the market! For months on end I would be rummaging through dark and
filthy storage spaces, day in and day out. Getting sinus infections
from the dust and mould… digging through urine-soaked garbage and
getting bitten by rats. And in the end, when I show all the material
I’ve gathered, people always ask “How did you find this stuff?” as if
I’m a magician. But really, it’s all right here under our noses!

Security was also a
major challenge. Undertaking the project required me to traverse the
breadth of the country several times over, and navigating the terrain
while trying to stay ahead of the kidnapping epidemic in the East.
Well, let’s say it required a good deal of gumption and creativity.

The challenge I
feel defeated me, though, was the complete unavailability of a lot of
the material. I’m actually a filmmaker by vocation, and my original
intention had been to make a documentary film about Nigerian musicians.

Unfortunately, I
couldn’t get enough period footage to create a sufficiently dynamic
documentary because of a lot of the tapes of musical performances
recorded for television in the 1960s, 70s and 80s were either dubbed
over or thrown away. So, unfortunately, I had to put that project aside.

Any collaborations with record labels in Nigeria for more information?

No, not really. For
one thing, most of the big record labels from Nigeria’s golden age of
music – EMI, Phillips, Decca/Afrodisia, and the like – they don’t exist
anymore. And many of them even discarded or destroyed most of their
records, master tapes, artwork, videos, and documentation.

Record keeping is almost non-existent in Nigeria. Why do you think this is so?

It’s probably a
controversial view, but I think that we as Africans have a peculiar
relationship to the concept of antiquity. We joke about “African time”
and what-not, but I really do believe that the African perception of
time is a bit more… fluid than it is in the West. We tend to live
primarily in the present, and even our concept of “the present” is very
elastic.

I once read about
an anthropologist who was looking for artefacts in a certain African
country, and he was presented with a carved wooden mask representing an
ancient fertility god. He asked the indigenes if the mask was
“authentic” – by which he meant: “does this particular mask actually
date back to an ancient era of this land? Is it an antique?” And the
people told him, “Of course it’s authentic” – by which they meant:
“Yes, it was made here, and it still represents this particular
fertility god who we still worship.”

Whether or not the
mask is old was unimportant to them: all that matters is whether the
mask did its job as the avatar for the god. It wouldn’t make a
difference to them if the mask was carved 3000 years ago or yesterday.
And if there was a mask from thousands of years ago representing a god
that they no longer worshipped, then they would have no qualms with
burning it or throwing it away because it served no useful purpose for
them in “the present.”

So it is with us in
Nigeria. We’re fixated upon how utilitarian things are to us in “the
present,” and “the present” trumps everything.

That’s why you have
television stations erasing the only copies of classic TV shows like
‘The Village Headmaster’ so they can use the tapes to record today’s
music videos. It’s why record companies hired contractors to cart away
and destroy entire libraries of master tapes of Nigerian music from the
1940s to the 1980s, so they’d have room for the music of the 1990s.
‘The present’ is all that exists for us.

When will your releases hit the market?

The first of these
publications will probably be released in the US and Europe at the end
of November. I’m not sure exactly when it will come to Nigeria, but
obviously it will find its way here. It’s a musical chronicle of the
years of Nigeria’s Second Republic (1979-83) and covers a lot of the
notable developments of that era: the increased professionalisation of
the Nigerian music industry with the rise of high-tech independent
labels like Phondisk and Tabansi, the rise of solo singers as the old
bands died, the emergence of more women in the music scene, and so on.

The next one will
probably be out in December, and it will focus on the venerable
Semi-Colon Rock Group of Umuahia. Then in early 2011, we’ll have
something concentrating on music from Cross River and Akwa Ibom States
and then a spotlight on Benin-style highlife, and lots of other stuff
in the pipeline.

Is royalty payment a big issue for you?

It is a big deal to
me. A BIG deal. You see, one thing that a lot of people don’t know is
that most Nigerian musicians of years past never made any money off the
sales of their records. I mean, ask someone like Onyeka Onwenu if she
ever made even one naira from record sales. There’s no way I can in
good conscience perpetuate that kind of exploitation of our artists and
so, it’s of the utmost importance to me that the original artists are
paid, even if it’s not a huge amount of money.

CDs actually are
not selling as much as they were ten years ago, so nobody is getting
rich off selling discs. But one thing we’re working on is developing
ways to licence the music for use in films, television, adverts,
ringtones, and other applications, and hopefully we can make some
decent money for the artists that way, because some of them really,
really need it.

What do you hope to achieve with this project?

I’d love to tell
you that I hope to become a millionaire from it, but I’m much too
realistic to even fool myself with that, let alone fool you. If, as a
result of my efforts, Nigeria’s rich heritage of popular culture
becomes fully recognised and celebrated, and I get to see our national
artistic legends reap some of the money and kudos they deserve, I think
I’d call myself a happy man.

And if I’m able to
even make a few pennies from it myself to stay afloat and continue
doing what I do, that would be a bonus, because this is really
expensive work and I fund it pretty much completely out of my own
pocket.

What’s next after this?

Well, I don’t like
to look like I’m this guy who is stuck in the past, because despite my
interest in history, I’m very much on the cutting edge of culture! I
want to sign some contemporary artists to Comb & Razor Sound; I’m
just looking for artists who are really unique. What I would really
love is to find a really cool, young Nigerian hard rock/funk band.

Also, this whole
music thing is really a side track that I stumbled into over the past
two or three years and it has taken me away from my work as a
filmmaker, so I’d like to get back to making movies soon.

To that effect, I have some film projects I’m developing. I haven’t
completely given up on the documentary either. I’m also working on a
book on the history of Nigerian filmmaking, and a cartoon series for
Nigerian TV.

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On-the-ground spiritual game

On-the-ground spiritual game

If Fela
Anikulapo-Kuti (Fela) was still alive and healthy, he would be looking
forward to being 72 years old on 15 October, 2010. Hardly the age one
associates with mavericks defiantly dishing out double-fisted
‘black-power’ salutes, decked out with war paint, amulets and charms
strapped to a tight body displaying 6-pack abs most men would die for.
So today he would be greyer or even geriatric maybe, yet I suspect he
would still have been able to sweep on stage and pull-off a power-pose
with purpose, menace and sex-appeal. And the masses would roar, and his
music would still be giving me goose bumps.

Just listen to the
opening stanzas of his songs ‘Water No Get Enemy’ or ‘Otoriti
Stealing’; the mind-blowing horn arrangements in ‘Yellow Fever’,
‘Beasts of No Nation’, ‘Teacher Don’t Teach Me Nonsense’; and the
orchestration in ‘Overtake Don Overtake Overtake’. Add to that
signature introductory first layer of sound a rumbling seemingly
primordial drum beat delivered in a merciless pulsating rhythm, and
then percussions, from the shrill shekere and kpangolo traditional
instruments to the deep conga drums. Pure Genius.

On Fela

I cannot claim to
have known the man personally, and despite his giving me the most
memorable display of the relationship between a father and daughter,
Fela did not know me at all. He was oblivious of my many visits to his
night club the ‘Africa Shrine’. Thankfully, so was my boarding school
principal. And come to think of it, my parents who had delivered me
safely into boarding school did not know of my nocturnal adventures
either, but I digress.

At that memorable
first and only meeting 33 years ago with Fela at a concert in Tafawa
Balewa Square Lagos, one of his daughters who happened to be dating a
friend of mine sneaked us backstage to introduce us to her father.
“Fela, this na my bobo and him friend”. Fela looked my friend over and
then spoke around the inevitable stick of marijuana hanging
precariously from his lower lip. “So na you dey do my pikin, ehn?”

As a comment made
by a father in the presence of his daughter and two young strangers, it
was just too good, beyond translation or rephrasing. In its original
delivery format faithfully reproduced here, it remains deliciously
memorable. Some moments are frozen in time and this was certainly a
classic one.

I want to point out
quickly that Fela was not my role model so I never aspired to his
lifestyle, yet to me he was the ultimate icon. The man was undoubtedly
a musical genius, an inspiration for my part-time musical ambitions and
most certainly the chief proponent of Afrobeat, the music genre he is
credited with pioneering or popularising, depending who you ask.

On “Afrobeat”

According to Albert
Oikelome in his piece “Stylistic Analysis of Afrobeat Music of Fela
Anikulapo Kuti” – “In musical terms, Afrobeat clearly draws upon jazz,
blues, soul, funk, afro latin, highlife and folksong elements and
grafts them all into a West African rhythmic template.”

Also quoting
acclaimed photo journalist Tam Fiofori “… It is safe, sensible, and
factually logical to state that Afrobeat and its various flavours were
created by Nigerian musicians who were interested in expanding the
tonal and rhythmic frontiers of Nigerian highlife music… It is from
this distinct and unique Nigerian highlife flavour that the various
inflections of Afrobeat evolved through assimilation, experimentation,
cross-fertilisation, and individual musical innovation….”

I imagine in
reading these definitions, Fela in his typical continuous switch from
pidgin to Queen’s English would probably have retorted, “Which kind big
big grammar una want take confuse people?? Afrobeat is for the body and
mind, an On-the-ground spiritual game”

So for me, and I
wager that for others too, Fela’s Afrobeat with its signature call and
response pattern in both the music and the lyrics will always stir deep
emotions and feelings of the foot-tapping, head bobbing; chin holding
and occasional deep sighing variety, as we sway to the beat and ponder
what our beloved Nigeria might have been if we had listened more
carefully to his ingenious stories in song.

With Fela, Afrobeat
achieved international recognition and political purpose, evolving
alongside a Nigeria losing its innocence to civil war, military
dictatorship and rapacious corruption. Afrobeat became synonymous with
non-conformism and disaffection.

The youth,
especially the poor and disadvantaged, were drawn to it like bees to
pollen, even as parents squirmed and clucked their tongues in
disapproval of its proponent’s lifestyle.

I was fortunate
enough to be present at Fela’s club the Afrika Shrine on the night that
the ‘Overtake don Overtake’ was performed for the first time. A very
strange thing started to happen when the song got to the point of
describing the struggle of an ordinary civil servant trying
unsuccessfully to buy a fan to reduce the discomfort of sleeping in the
oppressive Lagos heat (“My friend wan come buy fan, him dey sweat where
him dey sleep for room”). I heard a restrained sob escape from the man
standing next to me, and when I looked around, realised that several
grown men in the audience where weeping quietly as they swayed to the
music! With this song, Fela was stripping bare the truth about their
lives in grim and excruciating detail – an overwhelming revelation of
their day to day non-existence (“Na now him come understand him life,
enjoyment can never come him way, na now him life dey go reverse, in
Africa him fatherland”). Later it occurred to me that the expatriates
in the audience that day must have thought these men had smoked a
particularly potent strain of marijuana and were literally “stoned to
tears”! To this day, the memory of that surreal night still makes me
break out in goose bumps. Such is the power of his music.

On Fela the Rebel

After Fela
metamorphosed from as he put it “a young guy enjoying himself around
town” to a powerful and fearsome social critic, he became widely viewed
as a “Rebel”.

I have questioned
this categorization of the man, and believe that his goal was promoting
genuine social reformation. He was not always coherent, especially in
his interviews, but once the music started you could always see an
immediate transformation in which he not only created but also directed
the merging of a thousand seemingly discordant notes into a harmonious
whole as a backdrop to the powerful story telling which he referred to
as “the on-the-ground spiritual game”. Raw, irreverent, and deeply
moving.

So for me, it has
and will always be about the music, this gift he had of storytelling
using the powerful Afrobeat platform. Perhaps some inspiration came
from the ganja he “rebelliously” and habitually smoked, but above all,
Fela was simply a unique being in which various elements came together
over a period of time to produce the equally notorious and revered
legend we know.

It was probably
this powerful effect he had over the masses through his music that led
Fela to think he could actually rule Nigeria as president. I watched in
astonishment as he attempted to register a political party and run for
elections, and even more ridiculous was the Government’s viewing of it
as a real threat, enough so as to actually employ time and energy in
frustrating his efforts!

On the live performances

For all his
anti-convention reputation, Fela ran his clubs with good old-fashioned
authoritarianism supported by corporal punishment. Other than
marijuana, his own personal narcotic of choice, it was apparently
forbidden to deal any other drug at the venues. Discipline was harsh,
meted swiftly and liberally. Patrons at Afrika Shrine apparently felt
more at risk from the ever possible police drug squad raid than from a
crime committed at the club.

Clad in adire-print
trousers, hand-made shoes from matching fabric and very often
bare-chested, Fela moved about on-stage, cigarette betwixt fingers, in
a casual, smooth (almost languid) stroll. Off-stage he existed mostly
in underpants. It was hard not to pay attention to him in a room full
of people. A late night performance at the Shrine was as much
showmanship as it was theatre, a musical concert and a “gaddem
on-the-ground spiritual game’!

Patrons showed-up
for yabbis i.e. irreverent commentary by Fela interspersed between
the songs about the inanities of Nigerian and African society. Fela
himself sang about his irreverent unstoppable mouth in the song Beasts
of No Nation “…basket mouth don start to leak again o..oo, basket mouth
don open up again o..oo!

Make I yab dem?
Fela would tease; Fela yab demmmm… the anticipating audience would roar
back, eager for a laugh at someone else’s expense. Contempt for the
affectations and pretentiousness of the ruling elite was dished-out in
equal measure with thorough verbal roastings of the ‘masses’ that
condoned these rulers in the first place.

A visit to Lagos
without a pit stop at Fela’s club was a less than fulfilling experience
for savvy foreigners, especially Europeans, who paid good money to
endure humorous but stinging jibes from a social critic conscious
always, about the legacy of colonialism and oppression.

For all of his
brilliance as a composer, arranger, keyboardist and saxophonist, it was
his prowess as a bandleader that held everything together. Supported by
a coterie of brilliant individualists like Igo Chico on tenor saxophone
and the peerless Tony Allen on drums; catchy and easily understood
lyrics largely in pidgin English flavoured by syncopated rhythms and an
awe inspiring horn section, were echoed and chorused by the female
singer-dancers whose shrill voices struck me as a throwback to the
witches in Shakespeare’s “Macbeth”. Intense, raw and uncut.

No matter where he
was playing live, Fela was value-for-money. Whether performing with his
entire ensemble at the Shrine or at the Tafawa Balewa Square (TBS) in
Lagos or just gigging impromptu with Tunde & the late Fran Kuboye
at the Museum Kitchen and later at Jazz 38 on Awolowo Road Ikoyi, he
effortlessly delivered a satisfying performance which friends and I
would talk about till the next show.

Even his habitual
lateness in arriving at his live performances did nothing to dampen the
anticipation of the crowd and the joyful roar that always greeted his
double fisted black power salute as he strode onto the stage, sometimes
six hours late!

Last thoughts

Yes, I didn’t know
the man personally but almost every time I watched him live, I saw the
visceral impact his music had on his audience, me included. He had the
ability to talk directly to each person in the audience. I now have an
extensive collection of his music as one of my most prized possessions,
and even to this moment, continue to discover new things about the man
through his music. Where did he get the opening stanza of ‘Water No Get
Enemy’?? What was he thinking? Why is this assembly of notes still one
of the most recognisable musical phrases in Nigeria, across gender and
tribe? Why would a light skinned woman be described as “Yellow Fever”?
I get the “Yellow” but the “Fever” beats me. Was she hot to the touch
or just hot to look at??

There are many more
such questions waiting when I head into blissful retirement with Fela’s
music, and it will be a joy to ponder on them and perhaps find answers,
if only in my head.

Epilogue

I have heard other
Afrobeat bands and artists keeping the music alive, listened to sampled
versions of his music by young international artists, and even seen the
Broadway show “Fela!” that is now making waves on the global
entertainment circuit and introducing the Fela phenomenon to new
audiences worldwide. This is AWESOME. The Emperor sleeps and the people
ponder and talk amongst themselves!

More respect, Abami Eda (The strange being), more respect to you as you rest. I am still getting those goose bumps.

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