NEWS

Ngozi Okonjo-Iweala Appointed By Standard Chartered As Director, To Earn £130k

Published

7 years ago

July 28, 2017

Ngozi Okonjo-Iweala Appointed By Standard Chartered As Director, To Earn £130k

Ngozi Okonjo-Iweala, former minister of finance, has been named an independent non-executive director at Standard Chartered PLC.

Standard Chartered PLC is a British multinational banking and financial services company headquartered in London, England and with presence in 70 countries.

According to a statement released on Thursday, by Jon Tracey, the bank’s media specialist, at the London Stock Exchange, the company said her appointment is effective from November 1, 2017.

She will earn £130,000 per annum for her expertise in financial and development financing.

“The independent Non-Executive Directors do not participate in any of the Group’s incentive arrangements,” the statement read.

“Dr Okonjo-Iweala will receive a fee of GBP100,000 per annum for her services as an independent Non-Executive Director, with an additional fee of GBP30,000 per annum as a member of the Brand, Values and Conduct Committee. This is disclosed in accordance with the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited”.

José Viñals, group chairman said “Ngozi is a globally recognised African and international figure”.

“She has significant geopolitical, economic, risk and development experience and expertise at a national governmental level and in international organisations, which will provide significant insight and value to the Board.

“She also has deep knowledge of Africa as well as emerging and developing markets. I am delighted to welcome her to Standard Chartered.”

Okonjo-Iweala spent 25 years working at the World Bank in various positions. After leaving in 2003, she served as the finance minister of Nigeria from 2003 to 2006.

She returned to the World Bank in 2007, serving as a managing director until 2011, when she was appointed to the role of minister of finance and coordinating minister of economy in Nigeria.

According to the bank, Okonjo-Iweala “spearheaded Nigeria’s successful program to obtain debt relief and is credited with developing reforms that helped improve governmental transparency to stabilise and grow the Nigerian economy”.

The 63-year-old sits on a number of prestigious international advisory boards including the Asian Infrastructure Investment Bank and is Chair of the Global Alliance for Vaccines and Immunizations (GAVI).

She has a Bachelor’s degree from Harvard University and a Masters and PhD from Massachusetts Institute of Technology.

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NEWS

Police Arrest Portable Over G-Wagon Debt

Published

14 hours ago

May 15, 2024

Reporter

Police Arrest Portable Over G-Wagon Debt | fab.ng

Popular Nigerian musician Portable is facing legal trouble over an unpaid debt. The singer is known for his sometimes controversial persona. The drama centres around a high-end purchase: a G-Wagon he bought from a car dealer.

According to news reports, Portable purchased the luxury car for a hefty ₦27 million but only paid ₦13 million upfront. This left a remaining balance of ₦14 million. The car dealer reportedly tried contacting Portable to collect the remaining sum. The musician allegedly kept claiming the vehicle had mechanical problems as a way to avoid paying. Unwilling to accept these excuses any longer, the car dealer decided to take a firmer stance and report the matter to the authorities.

On Tuesday, May 14, 2024, the Lagos State Police confirmed Portable’s arrest. Police spokesperson Benjamin Hundeyin stated that the musician was arrested specifically for defaulting on his G-Wagon payment.

“Yes, Portable has been arrested. He bought G-Wagon for ₦27m, paid ₦13m, and refused to pay the rest, claiming the vehicle was bad. We arrested him today,” Hundeyin confirmed.

This incident adds another chapter to Portable’s already colourful public image. It remains to be seen how this situation will be resolved and whether it will impact his musical career.

Check out more details here.

MUSIC

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

Published

1 day 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

2 days 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.