NEWS

CBN Releases N501bn For Commercial Agric Credit Scheme

Published

7 years ago

October 19, 2017

The Central Bank of Nigeria (CBN) has so far released a total sum of N501.697 billion under the commercial agriculture credit scheme (CACS).
Information obtained from the bank by Eyes Of Lagos showed that the fund was deployed to boost 526 agriculture projects across the country.
The document also showed that total repayment under the scheme was N251.156 billion in respect of 526 projects, out of which 281 projects had fully been repaid as at the end of September 2017.
It was gathered that outstanding balance with lending banks was N250.541 billion as at September 30, 2017.
The CACS was established by the federal government and is financed from the proceeds of the N200 billion three-year bonds raised by the Debt Management Office (DMO).
The fund is made available to participating banks to finance commercial agricultural enterprises.
Speaking with our correspondent on the sidelines of a three-day workshop for CACS agriculture desks officers of commercial banks in Lagos organised by the Nigeria Agriculture Insurance Corporation (NAIC), project management officer of the CBN, Mr. Ademuyiwa Adeleke, expressed worry about frequent abuse and negligence of laid down policies and CACS guidelines.
Adeleke disclosed that banks have flouted repatriation of loans and often failed to carry out due diligence of projects before disbursement of loans.
He warned that CBN would not hesitate to apply appropriate sanctions against banks that fail to observe due process.
In her opening remarks, the managing director of NAIC, Folashade Joseph, said the deposit money banks and other financial institutions have been NAIC’s major distribution channel over the years.
Joseph said the deposit money banks serve as credit providers, while NAIC acts as risk management service provider.
According to her, NAIC as a major stakeholder in the Central Bank of Nigeria CACS’ initiative has repositioned itself to improve on its product offerings and services with a vision of “remaining the pioneer and leader in the agro-investment risk management sphere” in Nigeria.
“Risk management remains an integral part of any modern day agricultural financing model, as such the Central Bank of Nigeria has deemed it fit to ensure that any agricultural investor accessing the CACS facility must have the project insured by NAIC as stated in the current lending guidelines for the CACS loan”, she said.
This, Joseph noted, is to protect the project from failing due to unforeseen risks.
She said, “This capacity building program is to enlighten the agricultural desk officers of banks on how to implement the risk management component of the CACS.
“Furthermore, NAIC is committed to forging the appropriate partnerships with deposit money banks in the fulfillment of their mandate by the provision of the appropriate risk management services to the agricultural investors being financed by the banks”.

Related Topics:CBN Commercial Agric Credit Scheme

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BUSINESS

Samsung Galaxy S25 Series Sets The Standard Of AI Phones As A True AI Companion

Published

2 months ago

January 31, 2025

Adaeze Okechi

Samsung Galaxy S25 series sets the standard of AI phones as a true AI companion

…Pioneering the multimodal era with the most context-aware and personalized mobile experience

Lagos, Nigeria – January 23, 2025 – Samsung Electronics Co., Ltd. has announced the Samsung Galaxy S25 series: Galaxy S25 Ultra, Galaxy S25+ and Galaxy S25, setting a new standard as a true AI companion with the most natural and context-aware mobile experiences ever created. Introducing multimodal AI agents, the Galaxy S25 series is the first step in Samsung’s vision to change the way users interact with their phone – and with their world.

A first-of-its-kind customized Snapdragon® 8 Elite Mobile Platform for Galaxy chipset delivers greater on-device processing power for Galaxy AI and superior camera range and control with Galaxy’s next-gen ProVisual Engine.

Samsung Galaxy S25 series sets the standard of AI phones | fab.ng

Galaxy S25 Ultra

With One UI 7, the Galaxy S25 series is a true AI companion that understands the context of your needs and preferences and provides personalized AI experiences with privacy assured at every turn.

It’s the starting point of a shared vision with Google to imagine Android with AI at the core, bringing together developers and partners from around the world.

AI agents with multimodal capabilities enable Galaxy S25 to interpret text, speech, images and videos for interactions that feel natural. Upgrades to Google’s Circle to Search make searching your phone screen more helpful, fast and contextual. Circle to Search now quickly recognizes phone numbers, email and URLs on your screen, letting you call, email or visit a website with a single tap.

With Galaxy S25 series, you can also perform actionable searches with context-aware suggestions for next steps. Plus, Galaxy S25 makes it frictionless to switch between apps for quick follow-up actions, like sharing a GIF or saving event details.

Galaxy S25 represents a breakthrough in natural language understanding, making everyday interactions easier. Simply ask and intuitively find a specific photo in Samsung Gallery or adjust the size of display fonts in Settings.

In the era of AI, personalization goes hand in hand with privacy. On the Galaxy S25, the Personal Data Engine powers personalized AI features by safely analyzing your data on-device to deliver highly tailored experiences that reflect your preferences and usage patterns.

These insights enable tailored experiences, such as using natural language to search for an old photo in the Gallery or being guided through the day with Now Brief, which proactively offers suggestions accessible via Now Bar on the lock screen. Knox Vault keeps all personalized data private and secure.

Combined with enhanced on-device processing capabilities, this creates a powerful, protected AI experience that is unique to Galaxy.

Galaxy S25+

Galaxy’s Most Powerful Performance Ever

The Galaxy S25 series is powered by the Snapdragon® 8 Elite for Galaxy. With unique customizations by Galaxy, this is the most powerful processor ever on the Galaxy S series. Further delivering a performance boost of 40% in NPU, 37% in CPU and 30% in GPU. This is compared to the previous generation.

This power fuels the Galaxy S25 series’ ability to process more AI experiences on-device without compromise, including previously cloud-based AI tasks such as Generative Edit.

10-bit HDR recording is now applied by default, offering four times richer color expression compared to 8-bit. Galaxy S25 can thus capture details in any lighting conditions. Plus, low-light videos have never been clearer than with Galaxy S25.

Based on powerful processor, Galaxy S25 analyzes movement and time to reduce noise more effectively. This integration allows detecting both moving and static objects with greater precision, ensuring sharper, cleaner footage in any scenario.

Galaxy S25 also introduces a range of tools once limited to specialized software, making advanced editing accessible for all. Now anyone can be a pro at editing photos and videos. Audio Eraser simplifies the removal of unwanted noise in videos. By isolating categories of sounds – including voices, music, wind, nature, crowd and noise – you can control what to tone down or eliminate entirely.

Galaxy S25 Series

Durable Design Embracing a More Circular Approach

The Galaxy S25 series builds upon Galaxy’s ‘Essential Design’ grounded in ‘Simple, Impactful and Emotive’ elements.

Galaxy S25 Ultra refines this essence into the slimmest, lightest and most durable Galaxy S series yet. This is with a rounded edge for a comfortable grip that complements the series’ aesthetic identity.

Galaxy S25 Ultra features durable titanium and the new Corning® Gorilla® Armor 2, a first-of-its-kind material that is more durable than glass. It combines Corning’s glass-ceramic with a proprietary anti-reflective surface treatment. This helps to ensure advanced drop protection alongside anti-reflection surface treatment and scratch resistance.

Combined with seven generations of OS upgrades and seven years of security updates, the Galaxy S25 series ensures a reliable and optimized performance over a longer lifespan.

For greater peace of mind, Samsung Care+ offers comprehensive coverage for accidental damage, repairs, and replacements, ensuring peace of mind for Galaxy users.

The Galaxy S25 series is available to order. Galaxy S25 Ultra will be available in Titanium Silverblue, Titanium Black, Titanium Whitesilver and Titanium Gray. Galaxy S25 and Galaxy S25+ will be available in Navy, Silver Shadow, Icyblue and Mint.

For more information about the Galaxy S25 series, please visit: Samsung Newsroom, SamsungMobilePress.com or Samsung.com.

MOVIES

Nollywood Director, Kemi Adetiba Teases King Of Boys 3

Published

2 months ago

January 9, 2025

Reporter

Nollywood director Kemi Adetiba teases King of Boys 3 | fab.ng

Nollywood director Kemi Adetiba has revealed that another instalment of King of Boys will be released on December 25, 2025. She made this announcement on her birthday through an Instagram post.

“KOB Army…. ARISE!!! It’s time…. We MOOOOOOOVE. Signed: Your General. #KOB3 #TheBeginningOfTheEnd #DettyDecember25 #KAV25,” she said.

Earlier in 2023, director Kemi Adetiba commenced pre-production for the next instalment of King of Boys.

Alongside this, she hinted at the upcoming releases of “To Kill A Monkey” and “Welcome to the Fourth.” This new King of Boys instalment, subtitled “The Beginning of the End,” will feature a blend of familiar faces and exciting new characters.

The feature-length film will make its debut in cinemas on December 25, 2025. This groundbreaking series centres around Alhaja Eniola Salami, a powerful businesswoman and philanthropist embroiled in a high-stakes power struggle.

The first film, released in 2018, captivated audiences with its compelling narrative and exceptional performances. Its sequel, “King of Boys: The Return of the King,” premiered on Netflix in 2021.

The original film boasted an ensemble cast, including the formidable Sola Sobowale as Eniola Salami, alongside Nse Ikpe-Etim, Jide Kosoko, Adesua Etomi, and Richard Mofe-Damijo.

Kemi Adetiba’s career began as a radio presenter at Rhythm 93.7 FM, where she hosted the popular shows “Soul’d Out” and “Sunday at the Seaside.”

During this time, she anonymously shared her remixes on platforms like Spotify and SoundCloud under the pseudonym “Hule.”

Transitioning to television, Adetiba became a prominent figure on Mnet, producing and hosting popular shows such as “Studio 53” and “Temptation Nigeria” alongside Ikponmwosa Osakioduwa.

She also hosted the Maltina Dance All reality show for three consecutive seasons.

After achieving on-screen success, Adetiba pursued her passion for filmmaking. She enrolled at the New York Film Academy to hone her filmmaking skills.

This decision led to international recognition for her work. Her short film, “Across a Bloodied Ocean,” was showcased at the 2009 Pan African Film Festival and the National Black Arts Festival.

Her directorial debut, “The Wedding Party,” a romantic comedy, premiered on September 8, 2016, as the opening film of the City-to-City Spotlight at the Toronto International Film Festival (TIFF).

MOVIES

“Everybody Loves Jenifa” Becomes Nollywood’s Highest-Grossing Film Of All Time

Published

2 months ago

January 8, 2025

Reporter

Everybody Loves Jenifa Nollywood’s highest-grossing film | fab.ng

Nollywood filmmaker Funke Akindele has achieved a historic milestone with her latest film, “Everybody Loves Jenifa.”

The film has officially broken box office records, surpassing the ₦1 billion mark to become the highest-grossing Nollywood movie of all time.

This groundbreaking achievement was announced by FilmOne, the film’s distributor, on their official Instagram page.

“Everybody Loves Jenifa” has officially hit a historic ₦1.466 billion and counting at the box office, making it the highest-grossing film of all time! A massive THANK YOU to our incredible audiences in Nigeria and Ghana for making this dream a reality. Your support is everything. On to even greater heights! Still showing in cinemas near you—experience the magic on the big screen,” the statement read.

View this post on Instagram

A post shared by FilmOne Entertainment (@filmoneng)

Akindele continues her reign as a dominant force in Nollywood with this latest triumph.

“Everybody Loves Jenifa” achieved this remarkable feat in less than two weeks, further solidifying her legacy of box office successes.

Last year, her film “A Tribe Called Judah” made history by becoming the first Nollywood film to surpass the ₦1 billion mark, firmly establishing her as the queen of Nigerian cinema.

In 2023, Akindele’s “Battle on Buka Street” also achieved record-breaking success, surpassing the previous record set by her own blockbuster, “Omo Ghetto: The Saga.”

The “Jenifa” franchise has transcended the realm of a mere movie series, evolving into a cultural phenomenon.

Akindele first introduced the iconic character “Jenifa” to audiences in the 2008 Yoruba-language film “Jenifa,” captivating viewers with her wit and charm.

The character’s popularity skyrocketed with the 2015 launch of “Jenifa’s Diary.” Interestingly, the series is a beloved television series that seamlessly blended humour with valuable life lessons.

With “Everybody Loves Jenifa,” Akindele elevates the character to new heights. She delivers a heartwarming and comedic story that resonates deeply with fans.

The film boasts a stellar ensemble cast, featuring Funke Akindele as Jenifa, Folarin “Falz” Falana as Sege.

Also, Jackie Appiah, Nancy Isime, Stan Nze, Bisola Aiyeola, Patience Ozokwor, Chimezie Imo, and Isaac Olayiwola (Layi Wasabi) brought life to the movie.

Check out more movie updates here.