Monthly Archives: March 2018

IrokoTv CEO Jason Njoku Shares How His Wife Mary Built ROK From Scratch 

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Tech investor and founder of iROKO, Jason Njoku, has shared how his wife Mary Njoku‘s ambitions birthed beloved DStv channel ROK.
Njoku, writing on his Medium page, shared how Mary had always loved storytelling and wanted to end up behind the camera rather than in front of it.
She had struggled to get roles in Nollywood, he wrote; producers saw her as a waka passand not a lead character.
Even after marriage, producers had advised she stopped working. She had married a rich man, they said.
With time on her hands, she ventured into storytelling, creating the tv show ‘Festac Town.’
In 2013, after the birth of their baby, Mary offered to create content for his iROKOtv. Although he was as supportive as a husband was expected to be, he wasn’t that interested.
Focusing on talent, Mary Njoku slowly built ROK from the ground up.
Today, ROK is launching two new channels – ROK2 and ROK3, the former to focus on epic movies and shows, the latter on Ghanaian content.
With his permission, we’re publishing Jason’s story on how his wife, Mary, came to be a major content producer in Africa.
Read the story below:
So, ROK on DStv was one a few weeks ago. I thought it important to tell the story of how it came to be. How a new approach to movie making fundamentally returned Nollywood to its roots as a medium to tell our stories.
In 2011, when Mrs Njoku was still Miss Remmy, she told me that she would prefer, by 40, to end up behind the camera rather than in front of it. That was her dream. She always loved storytelling and felt that Alaba-led filmmaking was disconnected from the storytelling core which had popularised Nollywood. She had all these ideas but no-one would really listen. I was her boyfriend so I was obliged to.
Everyone who knows me knows I am pretty much wrapped up in myself and I rarely bother about anyone else. So it pretty much went in one ear and out the next. Even though she had been in arguably the biggest hit of 2011, Blackberry Babes, the year was a dry period for movie making for Miss Remmy. For whatever reason, she just wasn’t getting scripts or roles. With the way Nollywood churns out starlets, it was super worrying. She implored me to lobby producers, after-all I was spending millions of dollars acquiring content from them. I asked a couple of dozen. Only two agreed. The rest, in someway or form, told me I should not spoil their job or that they required me to pay for the entire film budget for her to feature in. See I believe in meritocracy so that wasn’t even an option. Not to mention those who point blank told me to mind my own business. So I let it be. Miss Remmy wasn’t satisfied and I remember we argued when I told her I ‘was too busy’ to run around, too busy to be making these phone calls and jeopardising the relationship with my producers. Jeez, sometimes I wonder why she married me. I could be pretty brutal in those days. The frustrations of wealth creation. See, Miss Remmy was considered a wakapass. So she was always given random supporting or very small roles. And if you think Harvey in Hollywood is bad. What happens in Nollywood? Blood of Jesus. But we will come to that another time.
2011 wandered into 2012 and Miss Remmy became Mrs Njoku. Mid-year, we took our first gamble at financing original content. Let’s say out of five producers, we commissioned 10 movies (2-each), four were satisfactory, five were okay and one movie-budget was converted into a container-of-goods which never ended up reaching Nigeria from the high seas of China. Acting roles were here or there. So Mrs Njoku still had time on her hands (post honeymoon) so ended up going to London to attend the London Film Academy.
It actually had gotten worse post our wedding. Being pregnant and all. Every single marketer / producer / fellow actor etc. advised her to stop working. They literally couldn’t understand why she still wanted to work. What was she chasing? Abi her journey had ended. She had married a rich man (when we married everyone called her a gold digger). If you look very carefully across Nollywood, most actresses who marry, the first thing their new husband does is attempt to stop them from acting. Well, if they can afford to. For the life of me, I don’t understand this. Miss Remmy had me promise a thousand different ways that I wouldn’t force her to stop. But because ‘she had married a rich man and gave him a son,’ producers literally didn’t think of her as a candidate for acting. She was out of the industry. No matter how many times she or I told them to the contrary. They assumed she was gone.
So, now that Mrs Njoku had some time, she started storytelling. Developing a script which became Festac Town. See, Mrs Njoku grew up in Amuwo-Odofin (it’s part if not adjacent to Festac in Lagos) so it was easy for her to tell this story. Except this wasn’t glamorous Island living schleck. This was a pidgin-led, gritty 126-cast monster. And she was 5–7 months pregnant throughout the entire set. It almost broke her and was definitely the most ambitious thing she has done to date. For all those who are still waiting for Festac Town season 2. There it is. She is scared to do it. Youthful enthusiasm created the first 13 episodes. With wisdom, she dare not try again.
Fast forward late 2013. We were in the fight of our lives. The venture financing had not gone unnoticed, the use of capital to realign the entire Nollywood windowing had not gone unnoticed. We had awoken the bear, AfricaMagic (MNET) began waging a content war to price (read force) us out of the market. The price of content had, for no other reason than some distant strategy change somewhere in Randburg, exploded from $2.5k/movie license to $25k, within the space of six months. It was stupid. I was stupid and desperate so just kept on increasing the pricing until someone folded. Mrs Njoku had just returned from London with our first child, O. So she was surprised to walk into my office to see one of the biggest female Nollywood producers shouting. Not necessarily at me, but in disgust at the $25k we were paying her for a movie. A hit. A blockbuster blah blah bloody blah. And the fact that we structured it that she was still able to also sell to AfricaMagic. Mrs Njoku looked at her. Looked at who was in the movie. Did some quick mental arithmetic and decided the movie couldn’t have been made for more than $20k. No way. See, Mrs Njoku knew the talent. Being in front of the camera and around marketers, she kinda knew the prices. She called the BS.
After said producer left, she turned around to Bastian and I. Simply. Give me $25k for a few titles. Let me see if I can shoot this kind of movie. Bastian was sceptical. I was sceptical, the board were nonchalant.
nonchalant

ˈnɒnʃ(ə)l(ə)nt/

adjective

(of a person or manner) feeling or appearing casually calm and relaxed; not displaying anxiety, interest, or enthusiasm.

“she gave a nonchalant shrug”
Right there and then, ROK was born. To be honest, I was as supportive as a husband has to be. But I wasn’t that interested. We were desperate and pressed against the wall. I had learned the hard way. Content is King. And now Mrs Njoku and ROK = leads content at IROKO. Does that make me Queen?
IROKO, IROKO.
IROKO, IROKO (in a typical hailing loud Nigerian accent).
Mrs. Njoku glanced nervously at me. This was the week ‘How I ended up working for Mrs Njoku’ came out. 1,000% sure this chap hadn’t read the article. Yet here he was. Confirming what I knew.
Hailing my wife, Mrs. Njoku. Madam IROKO, IROKO.
She answered him nervously, Noooooo, that’s my husband, he is the IROKO. He looked at me and laughed.
‘I know him. We know him. Leave that thing, we know he is in the background, supporting, you are at the front doing great job. IROKO, IROKO. Madam IROKO’
That was 2018. Back to 2014.
As we emerged from the content wars of 2013, one thing became obvious. License costs going from $2.5–5k to $20-25k per movie in 6 months, for the same content rights, was unsustainable at best. Lethal to our long term ambitions at worst. See the thing with content is that over the last 100 years, the price has only ever gone in one direction. Up, up and up! Example; in 2008 Netflix paid Starz $30m/year for 1,000 movies. A decade later they will spend $5B/year content for a similar amount of content.

So in 2013/14, Mrs. Njoku produced two movies. Hazeezat (rated 86%), Raging Passion (91%). That was a very strong start. And even though it wasn’t widely supported at IROKO board level, she slowly started to build out what would become a massive competitive moat around IROKOtv. Content. This was way before it was in vogue. This was way before we could even really afford it. It was primarily for IROKOtv, but she always saw it being beyond just the internet. She felt it needed to reach into the homes of the masses. It was a different kind of Nollywood.
See, 100% of the producers in Nollywood are independent of a platform. Mrs. Njoku no doubt would have been also. I guess I am fortunate to have married her into mine. A new protective layer around IROKOtv.
But she was going to do things her own way.
Whilst there was an established star system in Nollywood, Mrs. Njoku never cared about that, she honestly didn’t believe she could afford to. At the beginning, I attempted to pressure her into using established stars, you know to help me drive subscribers, for the most part, unless the prices were within budget. She straight refused. As she struggled her way through Nollywood, she saw boatloads of talent that was never given the opportunity by the ‘Men from Alaba’. So she decided to try a different route. She would focus on talent first, second and third. Can you write? Can you act? Can you produce? Can you direct? She would give a new breath of fresh air to Nollywood. She would introduce true meritocracy in Nollywood. Everyone gets a chance.
This became the DNA which differentiated ROK. It became a sanctuary to talent whom many others wouldn’t give a chance.
When established stars attempted to over price her? She didn’t even flinch. She just respectfully de-casted them. She wouldn’t even bother to negotiate. I have never in my entire life seen a person who can be as cold / brutal as Mrs. Njoku when needed, yet somehow in the most respectful and diplomatic way. I’m like a cupcake compared to her. In fact, I am pretty soft when it comes to it.
I remember when she spent time trying to convince established stars to feature in TV series, so many refused claiming it would kill their movie careers. There is a reason one of the biggest series of recent times, Husbands of Lagos, didn’t really have stars. But yet it still performed. Talent is what talent does. Talent wins.
Nobody saw this coming. Especially not me. I’m a commercial guy. I didn’t realise the far reaching impact this would have across Nollywood. She literally (and very quietly) turned everything on its head. Everything. 16 months ago, the launch of ROK on DStv ushered in a new era for Nollywood (in my humble opinion). Even though AfricaMagic had a 10-year head start and everyone assumed (myself included) the game was tied up. ROK became arguably one of the most successful channel launches in recent DStv history. It crushed ratings from Month 1. Crushed them. Not just in Nigeria. In the UK. I was genuinely shocked and surprised at how well it performed. ROK won by focusing on new faces, new talents. This was the time I started to lose my identity and become Mary Njoku’s husband.
Today everything changes…
Today is a big fucking deal in the Njoku household. Multichoice are giving her the opportunity to take this ROK thing to a different level. 5th April, Mrs. Njoku will be launching two more channels across Africa on DStv, but more importantly expanding to a GOtv audience. Now the audience for ROK will be x10. Now I truly believe the earth will shake.
ROK — Contemporary New Nollywood DStv 168
ROK2 — Epic Movies and Series — DStv 169 / GOtv 17
ROK3 — Ghanaian Movies and Series — DStv 164 / GOtv 18
The meritocracy she introduced will be amplified x10, as a new breed of actors are created and more and more dreams can come true. When we first started dating, this was like February 2011, I told her I was going to be the most important person in Nollywood (leave me jor, I was young(ish), broke and boasting with sweet big words), she didn’t care. I was wrong. Mrs. Njoku is arguably the most influential person in Nollywood today. I am biased of course. But I can’t think of anyone who shapes the creation (writers / producers / directors etc.) of so much content (1,000+ hours per year) and also whose content has the fans / distribution reach globally, whether it’s via IROKOtv or DStv or GOtv or SKY. No one to mind comes even close to that. She is increasingly becoming the prism through which the masses who watch Nollywood around the world, are experiencing it. It’s happened.
So where does that leave me?
See, I have finally come to the simple conclusion. In the end, no one really cares about IROKOtv. Yes, it’s a brand they have come to know and love. Yes we are making massive strides on lowering the barrier to adoption and have some neat tech. But what they are really interested and fall in love with is the content. ROK on DStv demonstrated this fact, without a shadow of doubt. That they are in love with what is cooking in the Njokus’ kitchen.
And I can’t cook.
So I will just have to play my position as Mrs Njoku’s husband

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Atiku Answers Questions From Journalist Concerning Security Challenges In Nigeria

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Solution Oriented response from Atiku Abubakar:
Bayo Akinloye – As a Fulani yourself, how do you feel about ongoing security crisis largely caused in many parts of the country by killer herdsmen of Fulani extraction?
Atiku Abubakar – The herdsmen crisis has arisen because of a failure of leadership. Nations are not static. They grow and change. 
Fifty years ago, desertification was not an issue in northern Nigeria. Now it is an issue. The changing environment has placed a great strain on people who live off the land like the herdsmen. Leadership is essentially about anticipating the consequences of these changes. When I gave the keynote speech at this year’s Silverbird Man of the Year ceremony, I addressed this issue. I said Nigeria is caught up in a Malthusian trap where population growth has far exceeded GDP growth. For the specific issue of herdsmen, in my private capacity, I established a company called Rico Gardo that provides animal feeds at very affordable prices to pastoralists so that they do not need to graze their cattle on private lands. This firm has been very successful in reducing herdsmen-farmers clashes in its area of operation. John F. Kennedy said, ‘When written in Chinese, the word ‘crisis’ is composed of two characters. One represents danger and the other represents opportunity.’
I think our current set of leaders are too focused on the danger side of crisis and are not as focused on the opportunity side of it. Turn this crisis into an opportunity. New challenges require new thinking. If I were to advise the Federal Government, I would counsel them to learn from Rico Gardo. Just as Nigeria has built government and privately owned fertilizer plants, the government should build and encourage the private sector to build animal feeds factories. Sell the feeds to the herdsmen and make money from them. The value chain this industry will create will generate jobs for Nigerians and revenue for the government. But most important, it will end these clashes. I am not telling you of what I have heard. I am telling you of what I am doing. And what I am doing is working in the area where Rico Gardo is operational. My plan for the future is to expand nationwide.

Special Announcement!!!

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Special Announcement 
Jigawa Mega Rally!
The National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, invites all members of the National Executive Committee (NEC), Board of Trustees (BoT), all leaders and members of the PDP in the National Assembly, all PDP State Governors, (present and past), PDP leaders nationwide, all stakeholders and teeming supporters of our great party in Jigawa state,  the North West Zone and the nation at large to the PDP’s Mega Rally in Jigawa State, holding as follows: 
Date: Monday, March 12, 2018
Venue: PDP State Secretariat, Dutse, Jigawa State
Time: 11:00Am
PDP…Power to the people!
Signed:
Kola Ologbondiyan 

National Publicity Secretary

Why Ogoni People Are Supporting Gov Wike’s Re-Election 

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Why Ogoni people are supporting Governor Wike’s re-election by Kenneth Kobani 
Secretary to the Rivers State Government, Sir Kenneth Kobani has declared that the Ogoni Ethnic Nationality resolved to vote massively for Governor Nyesom Ezenwo Wike because of his outstanding projects delivery in the area. 
Speaking during the defection of hundreds of APC members to the Peoples Democratic Party in Gokana Local Government Area on Sunday, Sir Kobani said that Ogoni people are committed to the victory of Governor Wike in 2019.
He said since the creation of Rivers State, no other governor has invested in the development of Ogoniland the way Governor Wike has  done.
The Former Minister of State for Trade said all the Local Government Areas that make up Ogoniland  have benefited from strategic projects that have improved the living condition of the people. 
According  to Sir Kobani, the Dualization of the Sakpenwa-Bori Road, the completion of Kpopie-Bodo road, the Ogoni-Andoni-Opobo-Nkoro Unity Road, the General Hospital Bodo City, the Bori Zonal Hospital; General Hospital, Nchia and the Birabi Memorial Grammar School are some of the projects that have transformed the landscape of Ogoniland.
He said: “Governor Wike has transformed Ogoni land and we are committed to his re-election.  If the governor has done  this in three years, by the time he completes  his second term, Ogoni people will benefit more.
“All Ogoni people, including those who left APC  to join us, must remain committed  to delivering Governor Wike in 2019. That is our principal goal. Governor Wike has done so much for the Ogonis. No other former  governor can equal his record”.
He charged all organisations to work  in unity to return Governor Wike in 2019. He warned against divisive tendencies ahead of the campaigns.
Rivers State Finance Commissioner, Dr Fred Kpakol said Governor Wike has placed Ogoni on his priority list in appointments  and projects.
He said  Gokana Local Government Area alone has the Secretary to the Rivers State Government and the Commissioner of Finance, an indication that Governor Wike loves the people.
In his remarks, Special Adviser to the Rivers State Governor on Politics and Strategy, Chief Glory Emeh advised the APC to remain steadfast as they will benefit from their association with the PDP. 
He said that APC has nothing  to offer the people of Ogoniland.  He said more APC leaders of the area will defect to the PDP  
President-General of Grassroots Development Initiative (GDI), Chief Bright Amaewhule commended the APC members for defecting to the APC.  He said their defection will help in ensuring the re-election of Governor Wike. 
Simeon Nwakaudu,
Special Assistant to the Rivers State Governor, Electronic Media. 
11th March, 2018.

By Kenneth kobani

Scam Alert!!!

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ATTENTION!!! A lady’s horrible experience at an ATM

 “Good day people. I want to make you aware of the following so that you as well don’t become a victim. Yesterday afternoon l went to FBN ATM at Phoenix Plaza. There was a guy before me. When it was my turn, l noticed a cellphone left behind so l called the guy back to give him his cellphone. His receipt was also still in the slot, so l had to call him back again to hand over the receipt. When l put my card in the slot , it was automatically kicked out. I tried again and punched in my pin. The same thing happened. Then out of nowhere the same man stepped behind me and began punching buttons saying its a new upgraded system and has to be constantly refreshed. He began removing and inserting my card again. All this time l was trying to get to my card, l was protesting against his help. He suddenly stepped back so I could resume with my transaction only to realise my card was stolen. It all happened in a space of a few seconds. I immediately called FBN and asked that my card and linked accounts be blocked. When I called the card division l was assured that the last transaction was my own and no monies were withdrawn. Later on l received an SMS stating that all my funds in my cheque account have been withdrawn and my savings were also transferred into my cheque account and withdrawn leaving me with a balance of N2,500 in my account. I am currently in contact with the fraud department trying to retrieve any funds if possible. Another victim had a similar experience at Zenith. The guy had left his car keys behind. A plea to you. Please, if you notice that the person before you has left any item at the ATM after using it. Step away from that ATM DO NOT USE IT. If possible notify a security officer. Had I been aware of this new type of card theft, I would have been more cautious. Please forward this message to your family and friends so that they are aware as well. Its a very traumatising experience and if possible let’s make others aware. Pleroobar!!!

Why I laid Wreath At Graveside Of 73- Obasanjo

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WHY I LAID WREATH AT GRAVESIDE OF 73 – OBASANJO  
Former President Olusegun Obasanjo yesterday laid wreath at the graveside of 73 victims of Fulani herdsmen attack in Makurdi where journalists asked him and he explained. Excerpts:
Since the beginning of the year, Benue has been under severe attacks, this place where you’re standing 73 persons were buried, 83 persons have also been killed after this burial, what is your feeling coming to this place to register your condolence?
It is sad, it is sad beyond description for me and that is why I have taken it upon myself, having been to Maiduguri where we held a meeting of the Zero Hunger Forum where if circumstances had been normal here in Benue State, the Governor would have been with us. Because the first meeting was held here in Benue State, and I thought I should, coming from Maiduguri, stop here to pay a condolence visit and share the sadness of the people of this state with them. 

And I thought coming to this grave side and laying a wreath will express sufficiently my sorrow and my sympathy and empathy with the family, with the Governor, and all the people of Benue State and in indeed all our people in Nigeria without any exception because the loss of a Nigerian life anywhere is a loss to all of us. 

And the situation you have described that since the death of these 73 that are buried here, there have been more than 80 others killed in different parts of Benue is even more shocking to me to hear, and I believe it will be more shocking to many Nigerians who would be hearing that as you put it across. 

There is no doubt that we haven’t got it right. We haven’t got it right because whatever is behind this, normally in any civilized society, we must get to the root of it, and until we get to the root of this we will be burying victims. We will be assuming what is not assumable. We must know why, why is this happening and who will put an end to it. 

Somebody must accept responsibility to put an end to this or if it has to be collective responsibility then so be it. But there must be an end to it. We cannot talk of a free country, a secure country, a country where we will want development to take place, where we will want to invite investors from outside and from inside and we are suffering this type of senselessness. I do hope that there will be an end to this. Governor, please accept my condolence and do not give up trying to work with men and women that have the interest of this state and the interest of Nigeria at heart to find a permanent solution. At least to me, go beyond what is on the surface and we need to find out what is at the bottom of it. That is the responsibility of leaders and of course they must leave no stone unturned to find what is the root cause of this and put it to a stop. 
There are over 170, 000 IDPs in the camps, just one of them has over 34, 000 displaced persons, will you like to take time to visit these places where there is despair?
I would see anything that is worth seeing but it is not despair that I want to see. What I will want to see is hope. What I will want to see is bright faces on beautiful people. What I will want to see is happiness of the people. Nothing can be worse than what we have seen here, graveside of innocent people. People that should not have died that are dead. In fact displaced persons still have hope but the people that are buried here, they are lost and lost for ever. What do we want to say to their families, those that have their fathers and mothers slaughtered? What do we say to their children, those that have their children slaughtered, what do we say to their parents, those that have their loved ones slaughtered? What do we say to those who they are leaving behind? But because if I have taken the time to come here I will spare time to see anything that is worth seeing but seeing and sympathising and giving condolence is one thing, finding solution is the thing that we must all endeavor to do.

IrokoTv Boss Jason Njoku Writes About His Experience With Nigeria Bank on Medium 

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If you’ve ever done business in Nigeria, or had cause to seek bank financing, you’ll know that the struggle is really real.
We found this piece written by Jason Njoku, the CEO of IrokoTV, and we knew we just had to share. The business owner wrote about how becoming a father influenced his decision to make certain lifestyle changes. With this decision, he needed funding… and that was where the story got really interesting!
Here are some excerpts from the article on Medium.
On how it started

So I relented. I’m a grown up, a father in fact. I have to do the right thing. So I told her to find a house in Lagos. Let me go find the financing. Contrary to what most people think, the Njoku’s are absolutely not rolling around in dollars. That $40m raised was for Iroko. Iroko does not = Njoku. I am a founder, CEO and shareholder, and still have to negotiate my salary with my board etc. If they see fit to not increase it, they can 100% refuse to. But granted, I am not complaining. I’m pretty well paid and would sit in the top 3% of salaried earners anywhere in the world. If I lived in London or NY or Paris, I could pretty easily get a $1m mortgage without too much effort. (this isn’t me bragging, it will be apparent shortly).

So she looked in Lekki/Ikeja etc. This is 2014 so ~N167 = $1. We found a few places we liked. N130–150m. ($778-898k). We had some savings so we ‘only’ needed N100m. Again. Globally, I earn in the top 3%. In Nigeria I am pretty certain I am in the 0.01% of salaried earners.
On corporate governance and separating self from business:

So I went to my board and asked if I could borrow the money from Iroko. Inasmuch as they wanted to be supportive, CEOs borrowing money from companies is usually a big fat red flag for corporate governance. So they suggested I do a small secondary and sell some Iroko shares to fund the new house. With much regret, I did just that. In the end, I didn’t buy a house. I bought some land and am plotting how to construct my glass house upon it. Those shares have obviously gone up in dollar value since then. The hope is they will go up significantly more over the coming decades. I hate selling equity. Opportunities in value creation, gone.
On Iroko’s needing more than just ATM services:

We were great customers, I guess. That was until we asked them for a couple of facilities. You know. Beyond ATM and Internet banking.

We were great customers. Until we required them to add value.

N10m overdraft – sometimes it takes time to import and exchange dollars. If I remember rightly, they asked for an equivalent of $100,000 cash collateral to cover the facility. Which is kinda besides the point. So we never even progressed with that*

We had secured a 5-year low interest N500m (at N10.4m/month) loan for content, but needed a bank guarantee (we are long Naira debt) in order to access it. Remember, we passed through N645m and $2.25m through their accounts last year. Zenith Bank refused. They needed collateral. Cash or assets. They needed N600m equivalent in cash or land. My account officer literally told me he needed ‘Something tangible’

Tangible — ˈtan(d)ʒɪb(ə)l/

noun

a thing that is perceptible by touch.

“these are the only tangibles upon which an assessment can be made” 
On the role of Nigerian banks with small businesses:

The Nigerian banking system for me is like Nigeria. It has basically failed. If I could, I would keep my money under the bed. I would get the exact same return on interest. I would probably be able to access it more readily. And finally, I wouldn’t have to put up with the BS marketing campaigns about supporting Nigerians in fulfilling their dreams. Rather than marketing about how supportive they are, they should go ahead and be supportive. If you are a top 100 company, they kneel at your feet. If you are one of the hundreds of thousands of regular SMEs (irokotv.com Nigeria is an SME) then you’re on your own.

I actually don’t need the Nigerian banks. But many, many others do. They don’t have the opportunity to tap international capital. They are stuck with the Nigerian banks.

Nigerian banks don’t support. They suffocate.
Read the rest  HERE.
***

Are you a small business owner or a professional just trying to improve your quality of life? Can you relate with Jason’s experience?