Fashion, Celebrity Gist

FG Unveils $1m Venture Capital for Creative Industry

Photo R-L: Lai Mohammed with Kemi Adeosun, who represented Acting President Yemi Osinbajo at the unveiling of $1m venture capital for creative industry in Nigeria.

The Minister of Information and Culture, Lai Mohammed, on Monday announced the establishment of one million-dollar Venture Capital to boost the Creative Industry.

The Minister made the announcement at the opening of the two-day Creative Industry Financing Conference holding in Lagos, saying 20 people, each investing $50,000, are expected to help make up the required amount.

Nollywood gets ₦420m Additional Grant

The Federal Government says it has released the sum of N420.2 million to the Nigeria film industry popularly called Nollywood to improve and support aspiring practitioners.

According to a statement issued by the Deputy Director of Information, Federal Ministry of Finance, Mrs Patricia Deworitshe, on Friday in Abuja, the money, which is the second tranche payment will benefit 105 film distributors.

The Federal Government had earlier introduced the “Project Act Nollywood’’, with three primary components aimed at developing the movie making value chain.

How Mike Tyson Spent Money on Jewelleries, Prostitutes

Former heavyweight boxing champion Mike Tyson, has admitted squandering his fortune on jewelry, prostitutes, mansions and cars which led to his bankruptcy in 2003.

The controversial former boxer said he was never “crazy” about money, but admitted he “went crazy with it,” CNN reports.

It would be recalled that Mike Tyson’s financial collapse was as ferocious as his style of boxing.

After earning more than $300 million over his legendary career, the former heavyweight champion filed for bankruptcy in 2003, and later went to jail for cocaine problems.

World’s Most Expensive Earrings Cost $57m

A pair of diamond earrings have been sold at auction in Geneva for a record-breaking price of $57.4m (£44.4m).

The pear-shaped jewels, nicknamed Apollo and Artemis, are almost 16 carats each, BBC reports.

The flawless stones mined in South Africa are perfectly matched except for their colour – Artemis is pink, and Apollo is blue.

Sotheby’s chief auctioneer David Bennet said that coloured diamonds are extremely rare “show stoppers”.

Nigeria Dominates African Fashion Industry

Nigeria designs have taken over and setting the pace in Africa fashion industry, Ronke Ademiluyi, Founder of the Africa Fashion Week has said.

Ademiluyi told the News Agency of Nigeria on Tuesday in Lagos that Nigerians designs were creative and laced with cultural finesse.

Ademiluyi is a UK based Nigerian fashion expert and entrepreneur.

“The fashion industry in Nigeria set the trend and everybody else follows. We are very bold; we are very vibrant our designers are very creative.

Nobody Will Invest In A Talent If It Is Not For Service –Ali Baba

A renowned comedian, Ali Baba, has said that he started making his millions as a stand-up comedian in the late 90’s when the profession was still in its developing stage in the country.

Ali Baba told the News Agency of Nigeria in Lagos that comedy business started paying off when people knew little about the profession.

The comedian spoke against the backdrop of an award conferred on him recently by The Verdant Zeal Quantum Awards at the Civic Centre, Lagos.

Movies Ease Stress from Recession –Producer

A Movie Producer and Director, Mr Kingsley Agubom, has said that entertainment was a strong tool that could be used to douse the challenges of the recession being experienced in the nation.

Agubom spoke with the News Agency of Nigeria on Wednesday in Lagos at the Artists’ Village, National Theatre, on his movie shoot for his on-going soap opera, “Sparkle: Season 4’’.

The movie director, who has produced numerous films to his credit, said Nigerians needed absorbing movies more than ever to keep them entertained.

African Filmmakers Revive Old Films

The Pan-African Federation of Filmmakers (FEPACI) has resolved to resuscitate 50 African films in a bid to restore the lost glory of the art from the continent.

The filmmakers unveiled the plan on the occasion of the Pan-African Film and Television Festival in Ouagadougou (FESPACO), which ends on Saturday, APA said.

FEPAC launched its new project for the restoration and preservation of 50 films, to safeguard African cultural heritage.

Fashion: Nigerian gets Vogues’ Attention

Popular UK -based Nigerian designer, Duro Olowu, has showcased his latest Autumn/Winter designs at this year’s London Fashion Week (LFW).

The fashion week which commenced on Feb. 16 is set to close on Tuesday (February 21).

The collections released by , are colourful and energetic ready to wear clothes.

Vogue’s Suzy Menkes described Olowu as “a one-man band’’ and “a designer who interacts with his customers’’.

Menkas said Olowu understood the needs and desires of his customers.

BOI to Invest ₦1.7b in Modern Arts

The Bank of Industry (BOI) has earmark N1.7 billion for the development of modern arts and crafts in Niger State, says Mr Emmanuel Zhiri, the Acting Executive Director, Council for Arts and Culture.

Zhiri told the News Agency of Nigeria in Minna on Tuesday that the gesture was aimed at boosting tourism in the state.

“Our efforts in the development of arts and crafts in Niger State have attracted the BOI to collaborate with the state government.