Court has granted Natasha 50m naira bail and trails to begin September 23.

As this guy Stephen Ndukwu has exposed content creators in Naaja , and some people are saying they never mentioned how much they make, but that it was the narrator Stephen Ndukwu, that said it was in billions. And that if the state government comes for their taxes, they can deny it.

Anyways , the Lagos state government will get all their earnings report from YouTube , Meta, TikTok, Twitter etc. They don't need to ask them for it or believe their words. It is obligated by law that those companies must comply or face serious fines from the Naaja government. So even if they lied or refused to say the exact amount they make , they still have set themselves up because the narrator said it was in billions of naira and the state government will investigate and ask of those earnins from those companies. They can't hide or lie if true.

Again, them for no do such a sho

Davido buys a 2026 car in the 6th month of 2025.

Its a brand new Mercedes Maybach SL 680
$750,000,000= 1.2 Billion naira

This is coming after he splashed about 700m on a CyberTruck few weeks ago.

Are Brands Shortchanging The Southeast?

We pride ourselves on having a large market in the Southeast. Numbers and statistics support this claim. When I was in the telecom industry, Onitsha was a big revenue center for the telcos.

However, we cannot say that brands benefiting from the huge Southeast market have shown enough good faith in their social investments decision-making and this is baffling.

Lagos, Abuja, and Port Harcourt usually receive a large chunk of corporate sponsorships from major Nigerian brands, to the neglect of the Southeast market, which can be likened to the goose that lays the golden egg.

We once had MTN as the title sponsor of Enugwu-Ukwu Igu-Aro and the other associated festivals. That relationship stopped and no other brand has bothered to throw their muscle behind the rich cultural fest. Globacom sponsors the Onitsha Ofala Festival. However, other brands are yet to step in as co-sponsors to help blow the festival the same way they have done with the Ojude Oba festival in Ijebu-Ode, Ogun state.

These fliers are just a few examples of how other brands have helped to activate the Ojude-Oba festival.

Organizing world-class festivals requires a lot of resources which only brands can provide. We people of the Southeast are demanding more from brands that are generating tons of revenue from the Southeast. Fair is fair.

We are simply asking for a re-think of the corporate social investments (CSI) strategies of major Nigerian brands to also favour the Southeast which also generates the revenues for them.

The argument that insecurity in the Southeast is one of the reasons why brands chose to stay away from CSI investments is not completely true. Insecurity may have impacted social life but people are still making calls and using data in the Southeast so the telcos can’t complain. On the Mondays of sit-at-home, I can bet that data and call usages increase as people idle away at home. On weekends, and even weekdays, bars and nightclubs are still banging so beverage companies are smiling. The financial services sector is thriving despite the security challenges. POS operators are almost lined up inch after inch in our communities. Banks are still declaring trillions of Naira in profits.

During festive periods such as Easter, New Yam, and Christmas seasons when these festivals take place. It’s choc-a-block and bumper-to-bumper traffic in the Southeast. So a bit more CSI gaze towards the Southeast by the brands won’t be a bad idea. The tokenism approach should be discarded because it’s good business for them.

Copied

Folklore music star Sir Mike Ejeagha has passed away. The man that sang gwogwongwogwo . He was the man Brainjotter gifted 2m naira last year. Thank God he enjoyed life a bit before he passed.

May his soul find rest

WOW

Zlatan revealed that Davido supportted his business with over 20 million Naira . He bought his $1500 merch for everyone in 30BG gang .

It didn’t end there , he went with it to America and wore it almost everyday . He promoted Zlatan’s clothing line despite being a PUMA Ambassador

001 is a man with the Heart of Gold .

Make him buy one for Shatta abeg .

“The $100 million we invested in Iroko TV was a mistake. If I had another opportunity, I would not do it again.”

Jason Njoku shares his terrible, brutal experience running Iroko TV.

Let's read him:

STREAMING IN NIGERIA. DID THE MARKET WIN?

Iroko’s first funding was in August 2011; our mandate was to build a large streaming business in Nigeria.

Tiger Global believed that one of the largest growth areas would be online entertainment, and like most content, the winners would be local content in large domestic markets.

They invested $200 million in Netflix back in 2010 and then invested in IVI in Russia, YY in China, Netmovies in Brazil, and us in Nigeria.

With super-expensive data bundles and inelegant payment options (I remember waiting for Interswitch to enable us to integrate), our market took a while to mature. In most opportunities, you can be too early or too late; only in hindsight can you gauge when the best time to strike would be. iROKOtv was very early when we launched in 2011, but we were fortunate that there was a ready-made international market in the diaspora who were willing to pay and able to overcome any technical hurdles (payment/bandwidth/devices) to enable us to at least generate a sizable income.

We actually waited until 2015 (four years post-launch), building the product, securing a sizable content library, and assembling a team to attempt to take on Nigeria and Africa. Between the revenues we generated and the venture capital we raised ($35 million) over the first ten years, we easily spent $100 million trying to win.

But we weren’t winning; we weren’t really losing either. We were just there, in full survival mode, operating in the toughest conditions possible. Streaming, even domestically, is a scale game.

Africa wasn’t immune to those costs. It’s incredibly expensive across marketing, content, delivery, and product platforms. Our largest, most serious competitors were Showmax, Netflix, Amazon, and Iflix. Collectively, they easily invested $1 billion or more from 2015 to 2023.

During that period, we often had tense board meetings about why iROKOtv wasn’t succeeding; it was challenging to feel that all my hard work and dedication were constantly reduced to “you’re not doing enough”.

We have been, and remain, the most aggressive in trying to distribute content across Nigeria—deploying hundreds of manned kiosks, teams of outbound contact centre agents, creating agency networks, adjusting our product to prioritise Android downloads, and pioneering peer-to-peer file sharing.

At one point, it dawned on me, and I finally shot back in a board meeting: if iROKOtv was losing, could they point to someone who was beating us? In the startup world, that’s usually the outcome of underperformance.

You are simply being out-executed by a better-capitalised or higher-performing startup. In this case, there simply wasn’t anything anyone could point to to establish that.

So my simple assertion was that the market was winning. In 2019, we went out to fundraise; for the first time, we used a bank, Stanbic IBTP, to support that.

We were looking for $10-20 million to keep pushing into and across Africa with our outbound, agency, and kiosk models.

I believed my tales of survival would inspire the (primarily) PE investors that we were going to be the eventual winners in a brutal, long-fought civil streaming war. Instead, they all largely concluded that perhaps there was no market there, that the unit economics were simply not viable at any reasonable scale.

What they were all interested in was the ROK content, TV channels, and distribution business. It was straightforward (fewer than 30 employees), had clear revenue recognition (billion-dollar paid TV platforms – DStv, Multichoice, SKY, etc., with 3-5 year contracts in non-local currencies), and was amassing a sizable IP library funded by the same paid TV platforms. Once we separated out ROK, it was clear where the value lay in Iroko. It represented 80% of revenues and 25% of costs. EBITA margins of 35-40% were achieved without even realising it.

The outcome of that fundraise was the $25 million partial exit (Iroko sold her shares; Mrs Njoku remains a significant shareholder in the studio) to Vivendi/Canal+.

We closed in July 2019.

Before the end of 2019, we had distributed $5 million as a special dividend and were primed to take on the world.

Then COVID-19 happened. Streaming temporarily boomed in the West (our North American business tripled in subscriber growth), while Nigeria closed borders and grappled with peculiar economic principles (devaluations, FX windows, etc.).

The local market in Nigeria simply collapsed. We saw it and stubbornly decided to keep investing and doubling down until we were all tapped out, having burnt through most of the post-exit capital. To save iROKOtv, we considered crowdfunding, an AIM LSE listing (you could raise $10-30 million easily back then) with relatively little revenue but a strong narrative.

In the end, we raised $1.1 million in convertible notes, then recapped the company a year later and paid it back.

In 2023, we finally accepted there was no market for paid premium services and exited Nigeria. We haven’t processed any Naira payments there in almost two years.

As I humbly survey the wreckage of the last 15 years of streaming in Nigeria and Africa, it’s clear our (then $2k GDP per capita) was too small to support even a $5/mo product. It’s clear this wasn’t even a question of capital.

Showmax alone continues to pour tens, if not hundreds, of millions to make it work. But the global giants tapped out last year; their costs (content and marketing) were clearly unsustainably high, and their product needed to be localised to make sense and actually work; it’s just not how platforms sustainably scale.

So I wasn’t surprised when either Amazon or Netflix rolled back their considerable investments in Nigeria. $5/mo is a luxury I doubt even 250k can reliably afford in Nigeria.

You can see the impact of what GOtv and DStv are suffering at the hands of the market. It’s okay that we tried and failed. It’s okay that we accept the limitations in the domestic market we find ourselves in. Did it need $1B+ to figure this out?

Absolutely not. I believe, with my newfound knowledge, that iROKOtv could have reached the same conclusions with $5-10 million versus the $100 million+ we ended up investing.

In hindsight, streaming wasn’t the winning model for Nollywood in Nigeria. Content, channels, and distribution were.

With the economics that business had in 2018, we could have shut down iROKOtv and her $5 million/year in losses and either listed it or just had a fantastically profitable business.

But I was a believer and walked away from millions of dollars in personal liquidity to put it all in to build streaming in Africa.

My lessons were expensive, and that’s why I am so consistent in telling founders not to over-raise.

I am not surprised by the story of Obi from Kobo360; I lobbied him pre-$30m raise not to raise too much capital or later on to seek a merger with his nearest competitor whilst they were engaged in a brutal price war.

The unit economics and payment cycles were brutal, and capital wasn’t going to dramatically change the market dynamics, and it appeared that no one was really going to win that market. It’s only with deep, lived, and expensive experience that I can glance at unit economics coldly and get a feel for whether, with the usual macro turbulence, a startup has a better chance at long-term success.

Nigeria is currently a massive drag on the entire operating business of Multichoice. Their most recent H1 reports indicate.

Reminder that this is the largest pay platform in Africa, which is currently being acquired in a $2.8B deal.

If I won the Presidency in 2023, I wasn’t going to remove fuel subsidy— Omoyele Sowore.

The Presidential candidate of the African Action Congress in the 2023 election has reviewed what he would have done if he was elected the president of Nigeria in an interview with channels tv. According to Sowore

“ If i win the presidency in 2023, i wasn’t going to remove fuel subsidy, I was going to remove subsidising those who are stealing from the poor. I wasn’t going to float the naira the way they floated it”

President Bola Tinubu will go down in Nigeria history, democratically as the most reckless, financially wasteful, with an appetite for borrowing, yet nothing to show for it.

Tomorrow will mark 2 years he removed subsidy, the only thing Nigerians enjoyed from the government under the guise of saving and prudence.

Where the subsidy money running into trillions of Naira goes into, we don't know, all we see is opposite, which is borrowing, borrowing ,borrowing in Dollars, Pounds, Euro, Yen and very soon, he will go for Cedis.

Jagagban is steadily becoming a borrowing master.

For many young Nigerians who may not know, Tompolo is not just a name you hear in passing. He is one of the most powerful figures to ever emerge from the Niger Delta, and his story is far from ordinary.

Back in 2005, Tompolo joined the Niger Delta People's Volunteer Force (NDPVF), a militant group that took up arms against the Nigerian Army deep within the creeks of the Niger Delta. After gaining experience and influence, he went on to create his own formidable militia — the Movement for the Emancipation of the Niger Delta (MEND). Tompolo didn’t just lead this group; he equipped it with weapons and ammunition, commanding thousands of fighters who launched a fierce campaign against oil companies and government forces. They successfully shut down pipelines, crippled oil production, and held control over vast swathes of the Delta’s waterways.

For years, MEND clashed with the Nigerian military, and despite repeated offensives, the army struggled to overcome them. By 2009, the government under President Umaru Musa Yar'Adua decided negotiation was wiser than war. They offered Tompolo and his fighters amnesty, bringing an uneasy peace to the region and allowing oil companies to resume operations.

The story didn’t end there. In 2016, President Muhammadu Buhari tried to revive the crackdown. He ordered Tompolo’s arrest, hoping to finally put an end to his dominance. Once again, Tompolo’s loyal fighters — popularly known as the Egbesu Boys — stood their ground. The conflict dragged on until Buhari’s government was left with little choice but to return to the negotiating table. Eventually, the federal government reinstated a multi-billion naira security contract with Tompolo — a contract that still exists today.

Beyond militancy, Tompolo holds deep cultural influence. He is the high priest and chief worshipper of the river goddess Egbesu, a spiritual figure that many in the region believe protected him throughout his battles.

Despite his reputation and wealth — he is quietly a billionaire — Tompolo remains rooted in the creeks, far from the public eye. He does not parade on social media, nor does he seek online fame. His power lies in action, not talk. When Tompolo makes a move, it’s real, not for show.

This story is public record. It is not hidden, and it speaks volumes about a man whose legacy still shapes the Niger Delta today.

AirPeace flight to Douala, Cameroon of 1.3million Naira, they just canceled.
Please, I want to cry.
This is too painful na.

EFCC arrests businessman E-Money for alleged Naira abuse and defacement of foreign currency.