NEWS

CBN Budgets Cut By 50% By National Assembly.

Published

8 years ago

August 24, 2016

The National Assembly has reduced the budget of the Central Bank of Nigeria (CBN) by 50 per cent. The director of the Bank in charge of Financial System Stability (FSS) 20:2020 Implementation Committee, Suleyman Mohammed, disclosed this in Abuja, yesterday.

He said reduction in the Bank’s expenditure has already begun to take its toll on projects costing N198 billion.Mohammed revealed the pains the Bank was undergoing when he led members of the Committee to the Nigeria Deposit Insurance Corporation (NDIC), to seek financial contribution.

He said: “CBN got a 50 per cent cut in its budget this year and this has immediately affected its operations, including the FSS:20:2020, which it has been single- handedly funding since the creation of the Committee, even though it’s a joint project of all financial sector regulatory agencies. That is why we are here to implore you to assist the Committee with funds to drive the initiative.”

Reacting, the NDIC team, led by its Managing Director and Chief Executive Officer, Umaru Ibrahim, assured the FSS:20:2020 Committee of its readiness to play its funding commitment and advised the team to carry out a harmonisation of the budget.

Meanwhile, operators in the manufacturing sector of the Nigerian economy, yesterday, said the ban, last year, of 41 items from the list of goods to benefit from foreign exchange, is one of the factors that have caused recession in the nation’s economy.

Speaking at the presentation in Abuja of a survey on the manufacturing sector undertaken by NOI Polls in collaboration with the Centre for the Studies in of African Economies (CSEA), the operators said the sectors lost N1.4 trillion between July and December 2015.

Source: guardian.ng

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MUSIC

Kendrick Lamar’s “Not Like Us” Beats Drake’s “Family Matters” To Billboard #1 Spot

Published

12 hours ago

May 14, 2024

Reporter

"Not Like Us" beats "Family Matters" To Billboard #1 Spot | fab.ng

Kendrick Lamar‘s latest diss track, “Not Like Us,” has landed the coveted number-one spot on the Billboard Hot 100 chart. This marks Kendrick’s second chart-topping single in 2024, following the success of “Like That” by Metro Booming & Future.

“Not Like Us” is the final chapter in Kendrick’s rap battle with Drake, and many fans believe it solidified his victory. This track, which Mustard produced, completely outshines Drake’s response song, “Family Matters.” “Family Matters” debuted at a much lower number 7 on the Billboard Hot 100.

Billboard Hot 100: #1(new) Not Like Us, @kendricklamar.

— chart data (@chartdata) May 13, 2024

Here’s where things get interesting:

Kendrick’s entire diss track trilogy dominated the top 10. “Euphoria” climbed eight spots to number 3, and “Like That” (by Metro Booming & Future) rose two places to number 2.

“Not Like Us” also shattered records on its path to the top. It became the most-streamed rap song on Spotify in the US in a single day, and it nearly broke Drake’s global single-day record for a rap song on Spotify (held by “Girls Want Girls” featuring Lil Baby).

Sales-wise, “Not Like Us” boasted the biggest debut week for any song in 2024, with 510,000 units sold. It fell short only to Taylor Swift’s “Fortnight,” which debuted with 560,000 units.

Biggest song debut sales weeks of 2024 so far (US units):

#1 Fortnight 560K
#2 Not Like Us 510K
#3 Like That 455K
#4 Down Bad 385K
#5 I Can Do It With A Broken Heart 340K
#6 The Tortured Poets Department 340K
#7 So Long, London 335K
#8 My Boy Only Breaks His Favorite Toys 325K…

— chart data (@chartdata) May 13, 2024

This chart dominance by Kendrick Lamar’s diss tracks proves that the music, not just the feud, resonated with listeners. “Not Like Us” not only secured the number one spot but also propelled his other diss tracks up the Billboard Hot 100, solidifying his success in this musical battle.

MUSIC

BNXN Bags His First RIAA Certification With “Mood”

Published

1 day ago

May 13, 2024

Reporter

BNXN Bags His First RIAA Certification With "Mood" | Fab.ng

Nigerian music star BNXN (formerly Buju) is on a roll with the hit song “Mood.” It just hit a major milestone in the US music industry.

Remember “Mood”? “Mood” the catchy track BNXN collaborated on with Wizkid for his critically acclaimed album “Made In Lagos (Deluxe Edition).” Well, “Mood” has just been certified gold by the RIAA!

This might sound complex, but here’s the scoop:

The Gold Standard

The RIAA, or Recording Industry Association of America, is a big deal in the US music world. When a song or album earns a Gold or Platinum record from the RIAA, it means it’s achieved super impressive sales or streams. Basically, “Mood” is a bona fide hit in the US!

Reaching Gold Status

So how does a song reach Gold status? The RIAA counts one “unit sale” as a physical album purchase, a download of the song itself (although 10 downloads equal one unit sale), or 1,500 streams on platforms like Spotify or Apple Music. According to the RIAA, “Mood” has officially surpassed 500,000 unit sales, making it Gold certified!

🚨Wizkid’s “Mood” featuring Bnxn is now RIAA certified gold 🌟 📀 pic.twitter.com/FSYg7dPo68

— 𝗔𝗟𝗕𝗨𝗠 𝗧𝗔𝗟𝗞𝗦 📀 (@AlbumTalksHQ) May 9, 2024

Benefits of Certification

Earning RIAA certification is a huge accomplishment for musicians. It can open doors to exciting opportunities, like:

- Live Shows: More performance opportunities in the US, like invitations to festivals, tours, or even headlining shows.
- Record Deals: Record labels love RIAA certifications, and this could lead to lucrative deals that provide BNXN with resources and support to further his career.
- Endorsements: Increased popularity can attract brand endorsements, generating additional income and expanding BNXN’s reach.
- Greater Recognition: The RIAA certification basically says American audiences love BNXN’s music! This can significantly boost his overall popularity and career trajectory in the US.

This gold certification is a win for both BNXN and Wizkid. It shows their music resonates with listeners worldwide. This milestone is a stepping stone for BNXN’s continued success in the US, and fans can definitely expect more fantastic music from him in the future.

For more music updates, check here.

ENTERTAINMENT

Brymo Reacts To Reports He Asked Simi For Sex

Published

1 day ago

May 13, 2024

Reporter

Brymo Reacts To Reports He Asked Simi For Sex | Fab.ng

Nigerian singer Brymo is setting the record straight based on recent rumours about him and Simi. During an interview with media personality Chude Jideonwo on the latest episode of “With Chude,” Brymo addressed the controversy surrounding claims that he propositioned singer Simi for sex in exchange for working on a song together.

Chude asked,

“You came out on Twitter and on TV to say that you wanted to create art with Simi, and you asked to sleep with her first.”

“…I didn’t want to create art with her,” Brymo interjected.

Brymo clarified the situation, explaining that things went differently than what was reported. According to him, Adekunle Gold initially approached him about collaborating on a song. However, Brymo declined. He then added that Simi also asked him to collaborate, but after he said no, she went on to create a successful album with rapper Falz.

View this post on Instagram

A post shared by Chude Jideonwo (@chudeity)

“Adekunle Gold came to me. Those two wanted to get married and then they took a break to hustle separately and then Adekunle Gold came to me and said that we should create an album together and I said no. Simi also came to me and I said no, then suddenly she did an album with Falz,” he said.

Brymo directly addressed the accusation, denying that he ever asked for intimacy. He expressed his frustration with the situation, calling Nigerians “sick people.”

He said,

“The reports then came in that Simi and Falz were dating. Simi and Falz? Nobody even knew that Simi and Adekunle Gold had stuff going on during that period. So I came back to gist everyone about what happened then and then they started accusing me of asking Simi for sex in exchange for a collab. Nigerians are sick people! That’s dark.”

“They came to me first of all; it didn’t happen second of all; then I came to tell everyone what happened later. That’s it,” Brymo emphasised.

Brymo’s denial adds a new layer to the story. Last year, he admitted to sometimes offering intimacy to female musicians he collaborated with, including Simi. However, his current explanation contradicts that earlier statement.

His tweet read,

“Though AG reached out later, I like to think that he didn’t check in again, by will or fate, because I turned down the same request many years before. I also did the same with Simi, saying I wanted to get intimate to create intensity. I didn’t know they were together, of course.”

Brymo Reacts To Reports He Asked Simi For Sex | Fab.ng