• Kwara First Lady To Join Segun Arinze, Wole Ojo Others For Book-Reading

As the Nigerian film industry gets set for the annual pan-Nigerian Best of Nollywood (BON) Awards, scheduled to be held on Sunday, November 24, at the Sugar Factory in Ilorin, Kwara State, the organisers of the travelling awards have released a line-up of activities, alongside other highlights of the 16th edition.

This year’s event is shaping up to be an unforgettable experience, featuring a variety of engaging activities, including a book reading session and the unveiling of new award categories.

A key highlight of the pre-award festivities will be the welcome party scheduled for Saturday, November 23rd in Ilorin. This will be followed by the Book of the Year reading on the morning of November 24, showcasing “Do As You Are Told, Bani” by the acclaimed author Lola Shoneyin.

Esteemed personalities, including the First Lady of Kwara State and well-known Nollywood actors like Segun Arinze, Wole Ojo, Kemi Adekomi, Cynthia Clarke, and Chioma Okafor, will participate in the reading. This session aims to inspire and engage the youths, specifically a select number of school children from Ilorin, Kwara State.

Also, the 2024 BON Awards has been revealed that four of its major award categories have been endowed by notable figures and organisations. The endowed categories include:

Best Indigenous Movie – Endowed by Oba Saheed Eleguishi, a distinguished traditional ruler and arts patron. Best Use of Food – Endowed by Abundish Limited, an agricultural product wholesaler cum grocery market in Lekki, Lagos.

The Best Actress category is also endowed by the Deputy Speaker of the Lagos House of Assembly, Hon. Moji Ojora, a well-known philanthropist and public servant dedicated to women’s empowerment. While the movie with the Best Social Message is endowed by Hon. Toke Benson, the Lagos Commissioner for Tourism, Arts and Culture, and a prominent advocate for social issues.

According to the founder of the Best of Nollywood Awards, these new endowments promise to enhance the awards’ prestige by taking it to the next level and also offer greater recognition for excellence in these fields.

As the seven-day countdown to the 2024 BON Awards begins, and the excitement is building, Feranmi Olaoye, the Executive Director of the awards has promised that this year is not just another gala night but a getaway weekend for hardworking Nollywood practitioners, and others within the Nollywood community.

With the awards’ unique blend of celebrity-filled events and meaningful high-impact initiatives, this year’s ceremony is poised to leave a significant mark on the entertainment industry and the wider Nigerian cultural scene.

The National Bureau of Statistics (NBS) reports that Nigeria’s inflation rate reached 33.88 percent in October, up from 32.7 percent in September.

This data is outlined in the NBS’ latest consumer price index (CPI) report for October, published on Friday.

The CPI tracks the rate of change in the prices of goods and services.

According to the NBS, the headline inflation rate in October increased by “1.18% points when compared to the September 2024 headline inflation rate.”

“On a year-on-year basis, the Headline inflation rate was 6.55% points higher than the rate recorded in October 2023 (27.33%),” the NBS stated.

“This indicates that the Headline inflation rate (on a year-on-year basis) increased in October 2024 compared to the same month in the previous year (i.e., October 2023).”

“Additionally, on a month-on-month basis, the headline inflation rate in October 2024 was 2.64%, which was 0.12% higher than the rate recorded in September 2024 (2.52%).”

“This means that in October 2024, the rate of increase in the average price level was higher than the rate of increase in the average price level in September 2024.”

• ‘INCREASE IN RICE, YAM PUSHED FOOD INFLATION RATE TO 39.16%’

The NBS also revealed that the food inflation rate in October soared to 39.16 percent, up from 33.77 percent in September.

On a year-on-year basis, the food inflation rate was 7.64 percent higher compared to the rate recorded in October 2023 (31.52 percent).

“The rise in food inflation on a year-on-year basis was driven by increases in prices of items such as guinea corn, rice, maize grains, etc. (Bread and Cereals Class), Yam, Water Yam, Coco Yam, etc. (Potatoes, Yam & Other Tubers Class), Palm Oil, Vegetable Oil, etc. (Oil and Fats Class), and Milo Lipton, Bourvita, etc. (Coffee, Tea & Cocoa Class),” the bureau explained.

The report also highlighted that the month-on-month food inflation rate in October was 2.94 percent, showing an increase of 0.3 percent compared to the 2.64 percent recorded in September.

“The rise can be attributed to the rate of increase in the average prices of Palm Oil, Vegetable oil, etc. (Oil & Fats Class), Mudfish, Croaker (Apo), Fresh fish (Obokun), etc. (Fish Class), Dried Beef, Goat Meat, Mutton, Skin meat, etc. (Meat Class), and Bread, Guinea Corn flour, Plantain flour, Rice, etc. (Bread and Cereals Class),” the NBS added.

“The average annual rate of food inflation for the twelve months ending October 2024, compared to the previous twelve-month average, was 38.12%, an 11.79% point increase from the average annual rate of change recorded in October 2023 (26.33%).”

The report also noted that Sokoto state (52.18 percent), Edo (46.55 percent), and Borno (45.85 percent) experienced the highest food inflation in October, while Kwara (31.68 percent), Kogi (33.30 percent), and Rivers (33.87 percent) recorded the slowest increases in food inflation on a year-on-year basis.

In terms of month-on-month food inflation, Adamawa (5.08 percent), Sokoto (4.86 percent), and Yobe (4.34 percent) states had the highest rates.

According to the NBS, states such as Kwara (1.11 percent), Ondo (1.31 percent), and Kogi (1.50 percent) had the slowest rise in food inflation in October 2024.

Justice Ayokunle Faji of the Federal High Court in Lagos has ordered an accelerated trial of the four bloggers charged with defaming and cyberstalking the management of GTCO (Guaranty Trust Holding Company), including its Group CEO, Mr. Segun Agbaje.

The four accused—Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami—are facing 10 amended charges for allegedly publishing false information about the company through various social media platforms.

At the resumed hearing of the matter on the 13th and 14th of November, Justice Faji also dismissed the bail applications, citing the serious nature of the alleged offences, which include charges that could lead to up to 14 years in prison.

The judge also held that one of the defendants – Precious Eze has shown the tendency to commit a similar offence again if let out as he is currently charged with a similar offence in another court and was only on bail when he went ahead to commit the alleged offence for which he is now standing trial.

Justice Faaji also highlighted the potentially destabilizing impact such actions could have on the banking sector, particularly since some of the charges involve cross-border activities on the Internet.

The defense counsel, Afolabi Adeniyi, had at the last hearing of the matter while moving an application for bail for the accused persons argued that the defendants should be granted bail on liberal terms, emphasizing that the charges were bailable and that the accused were willing to face trial.

Opposing the application, the prosecution Counsel, Chief Aribisala, SAN, urged the court to reject the bail request, highlighting the risk of the defendants absconding and stressing the need for an expedited trial.

In delivering his ruling, Justice Faji not only denied bail but also ordered an accelerated trial, underlining the gravity of the charges.

He also noted that the defendants’ actions challenged the authority of regulatory bodies, including the Central Bank of Nigeria (CBN), which had approved GTCO’s audited statements.

The matter has been adjourned until the 10th and 12th of December for continuation of the trial.