Nollywood actor, Lateef Adedimeji has recounted some of the amounts he got paid in the past despite playing lead roles in movies.

The ‘Ayinla’ star recalled that he was receiving as low as N4,000 for a lead role in 2014. 

According to him, he only started getting paid N100,000 to N200,000 for a role in 2015 

He disclosed this on the latest episode of the ‘Deep Dive’ podcast hosted by comedian, Teju Babyface.

Adedimeji said, “If I tell people that I wasn’t collecting N100,000, N200,000 until 2015/16, a lot of people would not believe me.

“Before then, the highest I collected for a lead role was either N4,000, N5,000, or N10,000. I was paid that low back in 2014 because it was more like a learning process.”

Lateef Adedimeji is known for his work in the Yoruba and English-language sectors of Nollywood, Nigeria’s film industry.

He has gained widespread recognition for his versatile acting skills and his ability to portray a wide range of characters with depth and authenticity.

The former Chief of Defense Staff, General Lucky Irabor has backed the closure of the Banex plaza in Abuja, saying an attack on soldiers constitutes an attack on the State.

Irabor stated this in an interview with Arise Television on Wednesday.

According to eyewitnesses, the soldiers visited the plaza to complain about a phone, which resulted in a heated argument and fight with the traders.

After the incident, many shop owners and traders quickly closed for the day to avoid being caught up in a reprisal attack and on Monday, military personnel arrived in about five Hilux vehicles and reportedly shut down the plaza.  

Reacting to the development, Irabor described the Banex Plaza incident as a very sad one, adding that on no account will it be right to raise a finger on a uniformed man. 

He said, “This applies to any uniformed person for as long as he is an agent of the state. An attack on him is an attack on the state, so any Nigerian of goodwill must condemn such an act.

“For me, I join to support the closure of Banex Plaza for as long as it takes to have anyone responsible for that dastardly act brought to justice. This is because if we fail to do so, we will be calling for anarchy. 

“The only men who are sacrificing their lives to ensure our collective good are members of the armed forces, the police, and other security agencies,” he said.

Irabor noted that if not for the policemen and some other private individuals who rescued the soldiers, the situation would have been worse and would have reflected poorly on the nation. 

He appreciated the media’s role in the whole incident but emphasised the need to “put context when setting the agenda for discussion”. 

“The media has created an awareness that in our civics, there are people you must respect. You have to put the context in setting the agenda for this discussion. 

“The populace needs to be re-educated to understand the place of national security and the responsibility of each and every one of us in preserving the sanctity of our various establishments that seek to make us live in a very good environment.” 

Speaking on claims that the army has refused to comment on the situation, he said it is the responsibility of the state to speak on their behalf. 

“Whatever job members of the armed forces do, it is not on their behalf but on behalf of the state, so they are only an agent of the state. They ought not to speak for themselves; the state should speak for them.”  

“It was a mild view, and it would have been harder, not necessarily from the army but from the appropriate agency of government, to be able to speak against such a dastardly act.” 

Irabor called for cooperation from Banex Plaza’s leadership in the ongoing investigation so as to bring out the perpetrators of the crime to book.

He said, “I believe Banex Plaza has leadership because they need to cooperate appropriately so that whatever investigation is ongoing can be concluded, and they must also cooperate by bringing out those who committed that act.”

The Police said on Wednesday that divers were battling to recover the body of a 30-year-old man who allegedly drowned at the Elegushi Beach, Lagos, where he had gone for prayers.

The Lagos Police Command spokesperson, SP Benjamin Hundeyin, told the News Agency of Nigeria in Lagos.

He said that a report to the police indicated that the man, simply identified as Samuel, had gone to pray at the beach with his friends.

Hundeyin said that the case was reported to the Ilasan Police Division at about 7.20 a.m. on Tuesday by a man whose name was not mentioned. 

Hundeyin said that the man’s report revealed that on Tuesday, at midnight, he and three of his friends left Igbesan in Ogun to Elegushi Beach, Lekki for prayers.

The image maker said that the report stated that during the prayer session, at about 4.00 a.m., one of the friends, named Samuel, 30, allegedly drowned.

“The scene was promptly visited by detectives of the division and effort is in progress by divers to recover the corpse.

“The family members of the deceased have been contacted and the investigation is ongoing,” he said.

The bill seeking to raise the retirement age of members of the Nigeria Police Force (NPF) on Tuesday, passed second reading in the House of Representatives.

Tajudeen Abbas, speaker of the house, and Abubakar Yalleman from Jigawa, sponsored the bill which proposes to raise the retirement age of members of the NPF from 60 to 65, and from 35 to 40 years in service.

The bill proposes to amend section 18 of the Nigeria Police Act 2020.

It also seeks to review the service years of police personnel in order to “improve the experience and expertise of the police workforce to retain experienced personnel, and reduce the cost of training and recruiting new officers, improve the morale performance and job satisfaction, and to address the shortage of experienced police personnel”.

In his lead debate during plenary on Tuesday, May 21, Yalleman, who chairs the house committee on police, said the amendment is needed to retain the experience of officers “who have been trained and have served for considerable years”.

“This experience is needed especially in this time of insecurity when experienced police officers are needed to help tackle insecurity in the country,” he said.

The Movement for the Actualization of Sovereign State of Biafra, MASSOB, Wednesday said that is not going to take it lightly with anybody or group that will flout the sit-at-home declared on May 30th 2024, for the celebration of its Biafra Anniversary Day, saying nothing even Nigerian security agents will stop them.

The pro-Biafra group through a statement by its leader Comrade Uchenna Madu, entitled “Biafra Anniversary Day Celebration Is Sacrosanct”, said that the day and all that will be done for the celebration is sacrosanct, adding that it will use the occasion to commemorate 57 years’ anniversary of Biafra declaration by General Chukwuemeka Odumegwu Ojukwu, now deceased.

MASSOB Statement read, “The leadership of the Movement for the Actualization of the Sovereign State of Biafra, MASSOB, have insisted and vowed that May 30th Biafra Day Anniversary celebration must hold irrespective of the threats by Nigeria security agents.

“In commemoration of 57 years anniversary of Biafra declaration by General Chukwuemeka Odumegwu Ojukwu, there will be a sit at home exercise in Biafra land. All schools, banks, markets, public offices, motor/ Keke parks, air/seaports and other corporate bodies shall stay at home as a mark of respect and patriotism to Biafra land.

“We know that the overzealousness, partiality and brutality of Nigeria security agents will be displayed in couple of days in Biafra land towards May 30th. No amount of their intimidating patrols and show of force will ever deter MASSOB and other pro-Biafra groups from honouring our past heroes and friends of Biafra on May 2024.

“MASSOB also wishes to assure the people of Biafra that there will be no public processions, rally or forceful enforcement on the citizens to adhere or obey our directives involuntarily.

“MASSOB is appealing to Ndigbo to continue in their indomitable spirit of the movement for the restoration of Biafra as the political independent of Biafra is the only hope for an Igbo man in Nigeria.

“As we march into 30th May 2024, we advise all Biafrans and Ndigbo to join in the celebration, in remembering the day which His Excellence Dim Chukwuemeka Odimegwu Ojukwu, made a historic declaration of Biafra. Every household shall light up a candle in their homes in the spirit of Biafranism.

“Stay in your house and pray while you light your candle. We will not take it lightly with anybody that will flout the sit-at-home order on 30th May. As we preach nonviolence, we shall maintain the principal of nonviolence in all our approach towards Biafra actualization and restoration.

“As May 30th anniversary celebration is sacrosanct, MASSOB acknowledged the conscious awareness and synergies among the pro-Biafra groups and other organizations in Biafra land towards the preparations and enthusiastic spirit in readiness for the celebration of Biafra declaration anniversary”.

The Federal Government says it  has initiated a comprehensive review of the basic education curriculum, to ensure it aligns with the evolving needs of the country and global standards. 

The Minister State for Education, Dr Yusuf Sununu announced this during the opening of a five-day workshop on the review of syllabus of technical examination in Abuja on Wednesday. 

He said that the strategic move was aimed at enhancing the quality of education, fostering critical thinking, and equipping students with the necessary skills to thrive in a dynamic world.

The minister emphasised the importance of a robust educational foundation, while highlighting that the current curriculum required updates to meet contemporary educational demands and  aspirations of the nation. 

“The world is changing rapidly and our education system must keep pace with the changes.

“We need a curriculum that not only imparts knowledge but also develops the critical thinking and problem-solving skills of our young learners.

“This review will involve key stakeholders, including educators, parents, and industry experts, to ensure a holistic approach to curriculum development,” he said.

Sununu said that the review process would encompass various aspects of the curriculum, including content, teaching methodologies and assessment strategies.

He said it would also integrate modern technology and innovative practices, to create an engaging and effective learning environment for students.

The minister urged stakeholders to actively participate in the review process, noting that public consultations and forums would be organised to gather input and recommendations from diverse groups. 

He said this would ensure that the revised curriculum reflects the needs and aspirations of the Nigerian society.

“The Federal Government remains committed to improving the quality of education at all levels, and believes that this curriculum review is a critical step towards achieving that goal.

‘By equipping students with relevant skills and knowledge, the government aims to build a brighter future for the next generation and contribute to the nation’s overall development,” he said.

Sununu highlighted the necessity of data-driven approaches to tackle challenges such as tracking school enrollment and teachers allocation.

He reaffirmed President Bola Tinubu’s and the Ministry’s commitment to prioritising education as the cornerstone of Nigeria’s development agenda.

He, therefore, expressed gratitude to stakeholders for their dedication and called for continued collaboration.

Also speaking, Prof. Ifeoma Abanehe, Registrar/Chief Executive Officer, National Business for Technical Examination Board (NABTEB), announced the commencement of a comprehensive review of technical college syllabus.

She said the initiative undertaken by various stakeholders, aimed to modernise the curriculum to meet the current demands of society and enhance technological development in the country.

According to her, the revamping process which will begin immediately will include updating the National Business Certificate and National Technical Certificate.

She underscored the significance of adapting to contemporary requirements, assuring that the changes would take effect immediately, with plans for implementation and distribution immediately after the five-day review period.

Citing the need to rein in inflation and achieve price stability, the Central Bank of Nigeria, CBN, yesterday raised its benchmark interest rate, the Monetary Policy Rate, MPR, by 150 basis points to 26.25 percent from 24.75 percent, the third raise less than three months, with the CBN Governor, Mr. Olayemi Cardoso, saying there’s no magic wand. 

Cardoso disclosed this while briefing journalists at the end of the Monetary Policy Committee, MPC, meeting in Abuja.

However, the apex bank retained the Cash Reserve Ratio, CRR, for deposit money banks at 45 percent and the Liquidity Ratio at 30 percent.

Cardoso expressed optimism that the various tools deployed by the bank to tame inflation and create a stable foreign exchange market would yield the needed results in the coming months.

Inflation had sustained upswing for over 13 months hitting 33.69 percent Year-on- Year, YoY, fueled by food inflation.

Also, Cardoso noted that despite pressure from food inflation, the general inflation rate was “moderating”, pointing out that “the tools the Central Bank is using are working”.

He stated: “I have several times and I will say again, there is no magic wand. These are things that need to take their time.

“I am pleased and confident that we are beginning to get some relief and in another couple of months we will see the more positive outcomes from the Central Bank have been doing”.

He added, “The committee thus reiterated several challenges confronting the effective moderation of food inflation to include rising costs of transportation of farm produce, infrastructure- related constraints along the line of distribution network, security challenges in some food producing areas, and exchange rate pass-through to domestic prices for imported food items.

“The MPC urged that more be done to address the security of farming communities to guarantee improved food production in these areas.

“Members further observed the recent volatility in the foreign exchange market, attributing this to seasonal demand, a reflection of the interplay between demand and supply in a freely functioning market system.”

Investors’ confidence

Cardoso said investors’ confidence in the country was growing, adding, “we have attempted to make the market more transparent in our dealings which foreign portfolio investors want to see and which gives them the added confidence.

“We have seen that they have responded very positively to the transparency initiatives and that have given a considerable amount of confidence to them.

“The removal of the distortions that we all know about which over time have resulted in a multiplicity of different circulars to address certain things have also helped in no small measure to boost confidence in the sector”.

Fintechs regulation

The CBN Governor explained that the move to tighten regulations around the operation of Fintech companies was not aimed at putting them out of business but to ensure that the Nigerian public obtains the maximum benefit from the sector.

“The Fintechs have definitely not been singled out for any exceptional kind of treatment, on the contrary we are very proud of what the Fintechs over the years have been able to do for the country and the positive impact it has been having not just in the country but worldwide. It is for us to support them and help them to strengthen what they have been able to accomplish”, he stated.

He said the CBN was concerned about illicit flows and money laundering through the sector which created the need for heightened surveillance of the sector.

He stated that despite the increase in regulatory guidelines for the sector, no Fintech organization has had its licence revoked by the CBN, stressing that “we have had conversations with a number of them and we have explained the need for them take another look at what they are doing and the need to strengthen them”.

MPR poses more challenges for businesses — NACCIMA

Reacting to the further hike in the MPR, the Director General, Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), Sola Obadimu, said MPR hike poses more challenges for managers of businesses in the country.

He stated: “Basic economics defines capital as one of the factors of production. Therefore, if the cost of money by way of interest rates goes up, the cost of doing business further rises.

“MPR rates aside, conventional banking philosophy will encourage banks to charge higher than prevailing inflation rates when lending money.

“Thereby, in the face of rising energy costs, unstable forex rates and associated costs, managing businesses becomes more challenging. Additionally, the issues of revision of minimum wages are there to accommodate.

“Again, it’s quite a challenging time for business managers. As it is loans are currently available above 30% per annum from banks. “It’s surely neither development nor investment- friendly.”

Additional cross for investors to bear – CPPE In his comment, the founder of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said the move will impose additional cross for investors to bear.

His words: “Most economic operators with credit exposures to the banks have not recovered from previous hikes. Interest rates were already around 30% threshold.

“Secondly, extant CRR of 45% has profound liquidity effects on the financial system. Both measures have dampening effects on financial intermediation, which is the primary role of banks in an economy.

“Thirdly, the monetary policy transmission channels are still very weak, given the level of financial inclusion in the economy. This limits the prospects of monetary policy effectiveness.

“Meanwhile, the new rate hike is an additional cross to be borne by investors who have exposures to bank credit facilities. Naturally, a rigid monetarist disposition by the Central Bank is expected. But we need to reckon with the costs to the economy.

“Hopefully, with the positive outlook for domestic refining of petroleum products, we may begin to see a moderation in energy cost and a pass through effect on general price level.

“This is one silver lining that is on the horizon at the moment.

“Necessary fiscal policy supports are urgently needed to compensate for the adverse impact of extreme monetarism on the economy.”