WHY INVESTORS RELUCTANT TO COMMIT FUNDS TO FILMMAKERS, BY FEMI ADEBAYO. (PHOTO).

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 Why investors reluctant to commit funds to filmmakers, by Femi Adebayo Seasoned actor Femi Adebayo has expressed his concern about the rising incidents of film piracy in the country. Adebayo, via his Instagram page, shared his experience in dealing with piracy perpetrators and how he was able to win the legal case against them. He lamented that the profits of the film industry have not been fully realised due to the illegal activities of movie pirates. Adebayo said: “The Nigerian film industry has experienced exponential growth over the years, but we haven’t been able to maximize the true dividends of this business because of daredevil pirates who benefit where they didn’t show. “This is a major reason why investors find it hard to commit their funds to filmmakers. However, through persistence and the use of the legal framework covering intellectual property, we can bring their activities to a gradual halt. “Several times, I have been a victim of movie pirates and I never spared them.

EFCC DOCKS EX-NBC BOSS,MBA & OTHERS YESTERDAY FOR N2.8BILLION FRAUD.{PHOTOS}.

Image may contain: 1 person, sitting and glasses                    The Economic and Financial Crimes Commission,EFCC yesterday tuesday,January 24,2016 arraigned a former Director-General of the National Broadcasting Commission,NBC,Emeeka Mba alongside three others before Justice Gabriel Kolawole of the Federal High Court sitting in Maitama,Abuja in a 15-count charge of money laundering and procurement fraud of the tune of N2.8billion.Mba was arraigned alongside a former director of finance,NBC,Patrick Areh; Basil Udotai {trading in the name and style of Technology Adviser} and Babatunji Amure {trading in name and style of Divine Partners}They were alleged to have at various times connived and transferred a sum of N2,899,723,500 from the account of NBC through various proxies for their personal gains.Mba was also alleged to have used his office as NBC DG to award contracts without following due procurement process.Shortly before the defendants took their plea,counsel to the fourth defendant,E.C. Ami asked the court for a short adjornment to enable him respond to the counter affidavit filed to the by the prosecution.''My Lord we filed a bail application since 25th of December and we were just served with a weighty response,therefore we urge the court to give us a short adjournment to enable us reply'',Ami urged.
Responding,counsel to EFCC,Ben S. Ikani said that the defence should rather be concerned with the court granting the defendants bail on such conditions that will enable them attend trial.
Justice Kolawole after listening to both counsel,said that there is no need to speculate on the court proceedings since the judicial process requires the defendants to take their plea before there can be hearing on bail application.He therefore ordered that the charges be read to the defendants for them to enter their plea.In view of their pleas,Ikani expressed readiness to commence trial immediately.Mba's counsel,S.I. Ahmed,moved a motion for bail of his client,but could not go far when the judge suggested that rather than wasting the time of the court on arguments,counsel to all parties should take an hour break to go agree on terms of the bail.At the resumed sitting after the break,the parties agreed that the defendants should continue with the administrative bail earlier granted them by the EFCC.However,Ikani noted that the conditions of the administrative bail had no monetary consequences attached to it,and said the sureties might not have anything to lose in the event of the defendants jumping bail.He urged the court to add a sum to protect the interest  of the prosecution in the event the accused jump bail.Justice Kolawole,thereafter ruled that the defendants should continue on the earlier bail terms adding a sum of N50million against each defendant.The defendants are to produce one surety each,who must have landed property anywhere in Nigeria.Their international passports which they earlier submitted to the EFCC should be transferred to the court.He ordered that the condition given must be met within 14 days failure of which the defendants would be remanded in prison custody.The matter has been adjourned to Fefruary 28,2016 for commencement of trial.More photos below.
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