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Sony Music Shrugs Off Pandemic, Reports Q2 Gains
Within that, the company received a one-time gain of 6.5 billion yen ($62.2 million) by selling shares of Big Hit Entertainment subsidiary Pledis and another 5.4 billion yen ($50.85 million) in what it terms a music company business transfer of an undisclosed business, which it apparently no longer owns a stake in. But even without those gains, the company would have posted a 40.95 billion yen ($384.7 million) in operating income, or a 9.3% increase. The Sony segment containing its music operations breaks out to:— Recorded music operations of Sony Music Entertainment and Sony Music Japan comprising 123.3 billion yen ($1.16 billion). That’s a 9.9% increase from the 2019 second quarter when recorded music tallied 112.2 billion yen ($1.045 million).— Music publishing operations of Sony/ATV Mu...
Pressure on banks over consumer loans money market
A Central Bank of Nigeria, CBN, Survey Report has shown that banks experienced higher loan default rates on credit cards and overdrafts/ personal lending to household in the third quarter of the year (Q3’20). The survey also noted that lenders expect to tighten the conditions for which loans are given to borrowers (loan covenant) in the next quarter (Q4’20). The Survey Report titled: ”Credit Condition Survey Report for Q3’20″ stated:”Lenders experienced higher default rates on credit card and overdrafts/personal lending to households in Q3’20 but expect lower default rates in Q4’20. “Losses given default on total unsecured loans to households and overdraft/personal loans to households both declined in Q3 2020. “Similarly, default on total unsecured loans to households was expected to worse...
Nico Rosberg: I take my hat off to Lewis Hamilton
Nico Rosberg hailed Lewis Hamilton’s record 92nd Formula One win and sporting longevity as a great achievement on Tuesday. Rosberg added that the way the Briton was using his platform to raise awareness for global issues was just as impressive. The 35-year-olds were teammates and fierce rivals at Mercedes from 2013 until the German won the 2016 title and immediately retired. Rosberg was also teammate to Michael Schumacher, whose record Hamilton broke in Portugal last Sunday, at Mercedes from 2010 to 2012 after the Ferrari great had made a comeback. “I have huge respect for what he’s managed to achieve,” Rosberg told Reuters after a launch for the Extreme E off-road electric series that starts next year with both men entering teams. “One thing is being at the level that he’s at, just a phen...
How fans pushed Al Nassr to sack Super Eagles skipper
More facts are emerging as to how Ahmed Musa suddenly became clubless. On Monday, Al Nassr confirmed that the Super Eagles captain was leaving. The 28-year-old is now a free agent after parting ways with the Saudi Pro League outfit on ‘mutual terms’. However, speaking with newsmen, Mohamed Hamdy Ahmed who writes for Merca Today in the Gulf State, gave more details on Ahmed’s departure. “There was great anger that caused this decision. The fans are sad about the player’s performance with the team. “The fans were not satisfied with the level of the player so the management took this decision,” Ahmed said. The Nigerian winger in 58 appearances scored 11 goals and got 14 assists, while helping the team win the 2018/2019 Saudi top-flight diadem and the 2019 Saudi Super Cup. But it was not enoug...
Nigeria records 133 new virus cases, 3 more deaths
Nigeria on Tuesday recorded 133 new COVID-19 cases, taking the total number of infections in the country to 62, 224. Three more deaths were also recorded, taking the total fatalities from the disease to 1,135. This is according to an update by the Nigeria Centre for Disease Control (NCDC) on Tuesday night. The 113 new cases were reported from 12 states. These are Lagos (51), FCT (15), Plateau (11), Kaduna (8), Oyo (8), Rivers (8), Ogun (4), Edo (2), Imo (2), Kwara (2), Delta (1), Kano (1). Lagos, which again had the majority of infections on Tuesday with 51 new cases, remains Nigeria’s COVID-19 hotspot with over 20,000 infections and 208 deaths. Abuja, Nigeria’s capital, Is the second most impacted with about 6,000 cases and 80 deaths. Nigeria has been reporting cases below 300 for about t...
NSCDC dismisses officer for ‘looting’ virus palliatives in Abuja
SIGNAL The Nigeria Security and Civil Defence Corps has dismissed a Corps Assistant, Illiya Ibrahim, from service for allegedly looting COVID-19 palliatives discovered in a warehouse in Gwagwalada, Abuja. It was gathered that Ibrahim of the Gwagwalada Division Abuja was seen with some food items while wearing the NSCDC uniform at the scene where hundreds of youths looted COVID-19 palliatives in Abuja. Ibrahim’s sacking was contained in a press statement by the Media Assistant to the Commandant General of NSCDC, Ekunola Gbenga, on Tuesday. The statement was titled ‘NSCDC dismisses officer for looting in Abuja’. It read in part, “The Commandant General Abdullahi Gana Muhammadu has approved the recommendation of the Junior Staff Disciplinary Committee for the dismissal of Illiya Ibrahim of th...
IPAC congratulates INEC chairman over re-appointment
The Inter-Party Advisory Council (IPAC) has congratulated Prof. Mahmood Yakubu on his re-appointment by President Muhammadu Buhari as the Chairman, Independent National Electoral Commission (INEC) for another five years in office. IPAC National Chairman, Dr. Leonard Nzenwa, in a statement described the re-appointment as a welcome development and a blessing to the polity, restating that only few helmsmen at the Commision have been able to achieve respectable results like he has done during his first tenure. IPAC Chairman, however, praised the INEC Chairman’s remarkable digitalization programme which has transformed the way elections have been conducted in the country in the last four years. He said: “The success of the Edo and Ondo 2020 gubernatorial polls are clear examples of the positive...
Lagos government promises to compensate victims of Fagba crisis
The Lagos State Government on Tuesday promised to compensate residents who lost their property to the Fagba crisis in Ifako-Ijaiye local government area of the state. Lagos State governor, Mr Babajide Sanwo-Olu, made the promise while on assessment of the level of destruction of property over the ethnic clash in the area. Sanwo-Olu assured residents of Fagba who were affected by the clash that Lagos State Government would assist them to alleviate their pains. “The level of destruction that I have seen here is colossal; it is unfortunate. “Enumeration would start immediately by the two local governments. “The councils chairmen and all the community leaders will come together; you are living in the same community. “Please let the peace among us reign, and that is why I have to come here myse...
Nigerian judge throws out case against 47 men for homosexuality
A court in Lagos throws out a case against men charged with public displays of affection with members of the same sex. A judge in a Nigerian court has thrown out a case against 47 men charged with public displays of affection with members of the same sex, ending what had widely been seen as a test of the country’s laws banning homosexual relationships. The Nigerian law banning gay marriage, punishable by up to 14 years in prison, and same-sex “amorous relationships”, prompted an international outcry when it came into force under former President Goodluck Jonathan in 2014. The men were arrested in a police raid on a Lagos hotel in the city’s Egbeda district in 2018. Police said the men were being initiated into a gay club, but the defendants said they were attending a birthday party. Prosec...
FIFA president tests positive for coronavirus
FIFA President Gianni Infantino has tested positive for coronavirus, the world football governing body announced on Tuesday. Infantino has been confirmed to have contracted the virus and is now entering a period of self-isolation. The 50-year-old is said to have shown just ‘mild symptoms’ of Covid-19, and all those who have come into contact with him in previous days are said to have been informed. In a statement by FIFA it was outlined that Infantino will remain in complete isolation for ‘at least ten days.’ The statement read: “FIFA President Gianni Infantino has received confirmation today that he has tested positive for coronavirus. “The FIFA president, who has reported mild symptoms, has immediately placed himself in self-isolation and will remain in quarantine for at least ten days. ...
Police arraign ex-lawmaker, ex-governor’s aide, three others for ‘arson’
File Photo A former House of Assembly member, Dayo Akinleye; Afolabi Ariyo, a former aide of Ex-Governor of Ekiti State, Ayo Fayose, and three others, on Tuesday, appeared before an Ado-Ekiti Chief Magistrate Court for the criminal act of deliberately setting property ablaze during the #EndSars protest in the state Others also arraigned were, James David, Ajimoko Busola and Oyin Filani. The Police Prosecutor, Mr Johnson Okunade, told the court that the defendants committed the Offence on Oct. 20 at Ado-Ekiti. He explained that the defendants also set ablaze three trucks conveying cement, saying that the value of the damages was yet unknown. According to Okunade, the offence was punishable Under Section 451 of the Criminal Code, Cap. C 16, Laws of Ekiti State, 2012. Counsel to the defendant...
Delta governor presents N378.1 billion 2021 budget to state assembly
Delta State Governor, Ifeanyi Okowa, Tuesday, presented a proposed budget of N378, 184,397,889 for 2021 fiscal year to the State House of Assembly. The budget is made up of N170, 370,000 for recurrent expenditures and N207.5 billion for capital expenditures. Okowa in the more than 50 minutes presentation of the Appreciation Bill at the Hallowed Chamber of the House, said the budget christened “Budget of Recovery” would be funded from four sources. The sources according to the Governor, include Internally Generated Revenue, N65.6 billion, Statutory Allocation including Mineral Revenue Derivation and Excess Crude, N219.9 billion, Value added tax, N17.5 billion and Other Capital Receipts, N17.3 billion. Explaining that the 2021 budget estimates was N96.1 billion increase over the revised budg...
