Friday 14 March 2014

Nigeria Second Top Destination in RMB’s Investment Rankings


Nigeria is currently ranked second in Rand Merchant Bank, (RMB) Nigeria’s list of top investment destinations.

The pillars of RMB Nigeria’s investment rankings are based on growth, market size and operating environment a combination of which makes up total investment attractiveness, according to Nema Ramkhelawan Bhana, Africa Analyst, at Rand Merchant Bank.

“Nigeria is already among the top 10 fastest growing economies globally, while its share of total inward FDI into Africa stood at 12 percent in 2012,” said Bhana, who made a presentation at the maiden RMB Nigeria Economic Breakfast, discussion with the title: ‘Nigeria – on the fast track to being the leading economy in Africa,’ held in Lagos on Wednesday.

Nigeria is ranked second just behind South Africa and ahead of Egypt by RMB as top Africa destinations for investment.

A breakdown of the ranking shows that Nigeria remains the most favourable destination for retail in Africa, driven by demographic gains from increasing population, rising real wages from increase in GDP per capita and growing urbanization.

“We believe the topic of our first economic research series is appropriate given recent global developments such as the EU slowdown and scale back in quantitative easing by the US Federal Reserve,” said RMB Nigeria chief executive Michael Larbie. “We expect these events to be ongoing and hope they will be of benefit to all participants.”

The RMB event also featured four experts on the Nigerian economy: Doyin Salami, full-time member at the Lagos Business School where he is also a senior lecturer; Bismarck J. Rewane, managing director of Financial Derivatives Company; and RMB research analysts Nema Ramkhelawan-Bhana and Celeste Fauconnier who specialise in financial and economic analysis of selected African countries, including Nigeria, in the RMB Global Economics research team.

In their most recent ‘Where to Invest in Africa’ report they predicted that Nigeria would overtake South Africa in the next few years in terms of “investment attractiveness”, to reach the number one position.

The session was interactive giving the wider business and economic community the opportunity to share ideas and possibilities for future co-operation with each other.

RMB, a division of FirstRand Bank, is a leading African corporate and investment bank and part of one of the largest financial services groups in Africa.

RMB has funded various infrastructure, resource finance, mergers and acquisitions, and development projects in over 35 African countries in the past decade.

The Central Bank of Nigeria granted RMB a merchant banking license on 22nd November 2012.

RMB has over 1 year of transactional experience in Nigeria having established a representative office in the country in 2010.

PATRICK ATUANYA

http://businessdayonline.com/2014/03/nigeria-second-top-destination-in-rmbs-investment-rankings/#.UyK9Fz9dWcD

Sunday 9 March 2014

Masquerades And Festivals: Giving Way To Modernization?

For centuries masquerades have remained, largely, a symbol of culture and customs. In Nigeria, they also depict the origins of particular ethinicgroup. ANTHONY ADA ABRAHAM, takes a look at the eroding effect of modernisation on Nigeria’s rich culture and values.

With colonisation in the 20th century, masquerades became more relevant as an institution for cultural entertainment. But today, modernisation has caused it to be used more for tourist attractions when they come out in colourful robes accompanied by traditional dancers and music. The masks adorned are determined by local tradition and beliefs. Best-known are those that represent the spirit of deceased maidens and their mothers symbolising beauty and peace. The masquerade may be accompanied by the elephant spirit, representing ugliness and aggression, which frightens the male spectators away from her beauty or other characters which include a pair of boy and girl, with the boy dressed up as a girl, satirising his counterpart, and animals (crocodiles, snakes etc.) which represent various local deities.

Religious Belief Reactions
This is one of the biggest killers of traditional ‘masquerades’ in the modern time. Many believe that a masquerade represents evil and could harm the innocent, but according to Pa Nwanosike, a 70-year-old man who believes in tradition, masquerades are the only viable symbols Nigeria could present to the outside world.
He said: “In those days, when someone is known as evil and people could not speak out because of fear, it is the masquerades that would come to the house to expose the person. They lash them to symbolise strength and instill fear which make people not to indulge in crime. I was in Benue State where the masquerades are celebrated both in the Tiv and Idoma lands, but now religion, especially Christianity is wiping it away.
“Even the Europeans who brought the religion to us and say our cultures are barbaric, are worse-off. They come in the name of tourism to see the masquerades mostly during festivals and they call them barbaric while taking it back to their country as modernisation.
“Their own cultures which celebrate same-sex practice like gays and lesbians, which is more barbaric? Unfortunately the youth of today do not know what masquerades or festivals are all about; they think it’s just to have fun. If we don’t preserve our heritage and values now, soon we will have no history to fall on in the name of modernisation as even some of our children cannot speak their respective dialects now. It’s good for the parents to tutor their children the importance of culture and for the youth to help to preserve their culture because you can’t be like an American in Nigeria, it’s just not possible.” He explained.
But Matthew Idoko said the fault is not solely the youths but the elderly as they are the ones who have failed to teach their children from childhood. They speak English to their children just to belong and when the children grow, they are not able to say ‘come’ in their respective dialects.
“I can’t speak my language because my parents don’t speak it at home; they have westernised us and tomorrow they will say the youth are not ready to learn or are selling their culture. The only thing you can’t teach a child when he’s grown is his language but one could learn English at anytime. Though I agree with pa Nwanosike, I don’t think that all the blame should be on us, they have the greater blame,” Idoko responded.

Masquerades As Symbol Of Unity
Masquerades appear in accordance with requisite community festivals calendar, burial rites and other social events. The masquerades are adorned in colourful robes and masks made of wood or fabric. Some masks appear in one festival only, but the majority appear in as many as possible. Masquerades are associated with spiritual elements. According to Igbo belief, they represent images of deities or sometimes even dead relatives. The identity of the masquerade is a well-kept secret and are societies populated mostly by men and performed exclusively by men.
In the past, masquerades were regarded as the means for maintaining peace and order and were primarily used to enforce laws governing the community. The whole village would come out for the ceremony of the colourful masquerades. While entertaining through dances and exhibiting extra-ordinary human feats, the masquerades would walk up to certain individuals and loudly expose any criminal deeds, bad habits or behaviour of that person. As people would always take corrections from these exposures, the masquerades were effective in keeping up with traditional norms and values in the communities.

Igbo Masquerades
There is an annual masquerade festival in November organised by Enugu State and involves masquerade groups from various parts of the state.
The other festival with high social significance carried out by most communities in the entire Igboland is the new Yam (Iri Ji) festival, which marks the beginning of the harvest seasons for new yam. However, the festival timing varies from one community to the other in the South east. The New Yam festival raises the occasion for celebration and the offering of special prayers to God for a good harvest. It is marked with colourful displays of cultural dances and rites, including roasting and toasting of new yams, an obvious time for feasting and merry-making.

Nigeria’s Many Other Rich Festivals

Benue State
Benue State possesses a rich and diverse cultural heritage which finds expression in colourful cloths, exotic masquerades, sophisticated music and dances. These dances include Ingyough, Ange, Anchanakupa and Swange among the Tiv and Anuwowowo and Obadaru among the Idoma. The Tiv Kwagh-hir theatre provides memorable entertainment in its dramatisation of Tiv folklore and social commentary. The people of Benue State respect their traditions and values, that is why they are seen as colourful locally and internationally by their costumes and masquerades.

Abia State
Ohafia war dance festival takes place in the month of December.

Adamawa State
The state has many cultural festivals like harvest festivals, installation, wrestling contests and hunting. It also has historical places of interest like the Lamido’s palace (the seat of Emir of Adamawa in Yola, Old Palace of Harriman Yaji at Madagali, German Rest House at Kowogol) and a host of others.

Anambra State
There is the yearly Ofalla festival, the Ijele masquerade and also the annual Iri ji (new yam) festival.

Cross River State
Leboku festival in Ugep, northwest Calabar takes place annually in the month of August.

Delta State
Celebrations of traditional festivals are an annual community affair in Delta State. Almost every village celebrates a traditional festival that draws both indigenes and non-indigenes to the village. The traditional festivals usually take place between March and December of every year. Festivals occasions provide opportunities for re-union of members of the family, friends and well wishers from far and near. Some of the important festivals celebrated in the State are Adane Okpe, Iyeri, Edjenu, Okere Juju, Ine, Ulor, Ukwata and Ore-Uku.

Eboniyi State
The people of this state are Igbos with several dialects and have rich cultural heritages. This is expressed in the colourful dances namely Nkwa Umuagbogho of Afikpo and Nkwa Nwite.

Edo State
A combination of historical festival in the Bini kingdom, including Ogie Ewere takes place in the month of December.

Ekiti State
Some major festivals are common to all the Ekitis and these are Egungun festival, Ogun festival and New yam festival.

Kebbi State
One of the occupational festivals is the Argungu Fishing and cultural festival. The Argungu festival was first celebrated as a big event in 1934, when it was staged to mark the visit of the Sultan of Sokoto, Mallam Hassan Dan Mwazu to Argungu. Initially, it was an irregular get-together of local fishermen residing in the vicinity of the fishing site of Argungu. Today, it is celebrated with a lot of pomp attracting people from both within and outside the country.

Lagos State
The Eyo festival, otherwise known as the Adamu Orisha play, is a Yoruba festival unique to Lagos State. It is a revered cultural heritage of the people in the early days. But due to modernisation, it is presented by the people of Lagos as a tourist event. And because of its history, it’s traditionally performed on Lagos Island with the masquerades dressed in all white flowing robes.
The Nigeria people should not see their culture as a taboo or a curse due to modernisation, they should see it as a symbol of unity, strength and stability like in Asian and South American countries.



For centuries masquerades have remained, largely, a symbol of culture and customs. In Nigeria, they also depict the origins of particular ethinicgroup. ANTHONY ADA ABRAHAM, takes a look at the eroding effect of modernisation on Nigeria’s rich culture and values.

With colonisation in the 20th century, masquerades became more relevant as an institution for cultural entertainment. But today, modernisation has caused it to be used more for tourist attractions when they come out in colourful robes accompanied by traditional dancers and music. The masks adorned are determined by local tradition and beliefs. Best-known are those that represent the spirit of deceased maidens and their mothers symbolising beauty and peace. The masquerade may be accompanied by the elephant spirit, representing ugliness and aggression, which frightens the male spectators away from her beauty or other characters which include a pair of boy and girl, with the boy dressed up as a girl, satirising his counterpart, and animals (crocodiles, snakes etc.) which represent various local deities.

Religious Belief Reactions
This is one of the biggest killers of traditional ‘masquerades’ in the modern time. Many believe that a masquerade represents evil and could harm the innocent, but according to Pa Nwanosike, a 70-year-old man who believes in tradition, masquerades are the only viable symbols Nigeria could present to the outside world.
He said: “In those days, when someone is known as evil and people could not speak out because of fear, it is the masquerades that would come to the house to expose the person. They lash them to symbolise strength and instill fear which make people not to indulge in crime. I was in Benue State where the masquerades are celebrated both in the Tiv and Idoma lands, but now religion, especially Christianity is wiping it away.
“Even the Europeans who brought the religion to us and say our cultures are barbaric, are worse-off. They come in the name of tourism to see the masquerades mostly during festivals and they call them barbaric while taking it back to their country as modernisation.
“Their own cultures which celebrate same-sex practice like gays and lesbians, which is more barbaric? Unfortunately the youth of today do not know what masquerades or festivals are all about; they think it’s just to have fun. If we don’t preserve our heritage and values now, soon we will have no history to fall on in the name of modernisation as even some of our children cannot speak their respective dialects now. It’s good for the parents to tutor their children the importance of culture and for the youth to help to preserve their culture because you can’t be like an American in Nigeria, it’s just not possible.” He explained.
But Matthew Idoko said the fault is not solely the youths but the elderly as they are the ones who have failed to teach their children from childhood. They speak English to their children just to belong and when the children grow, they are not able to say ‘come’ in their respective dialects.
“I can’t speak my language because my parents don’t speak it at home; they have westernised us and tomorrow they will say the youth are not ready to learn or are selling their culture. The only thing you can’t teach a child when he’s grown is his language but one could learn English at anytime. Though I agree with pa Nwanosike, I don’t think that all the blame should be on us, they have the greater blame,” Idoko responded.

Masquerades As Symbol Of Unity
Masquerades appear in accordance with requisite community festivals calendar, burial rites and other social events. The masquerades are adorned in colourful robes and masks made of wood or fabric. Some masks appear in one festival only, but the majority appear in as many as possible. Masquerades are associated with spiritual elements. According to Igbo belief, they represent images of deities or sometimes even dead relatives. The identity of the masquerade is a well-kept secret and are societies populated mostly by men and performed exclusively by men.
In the past, masquerades were regarded as the means for maintaining peace and order and were primarily used to enforce laws governing the community. The whole village would come out for the ceremony of the colourful masquerades. While entertaining through dances and exhibiting extra-ordinary human feats, the masquerades would walk up to certain individuals and loudly expose any criminal deeds, bad habits or behaviour of that person. As people would always take corrections from these exposures, the masquerades were effective in keeping up with traditional norms and values in the communities.

Igbo Masquerades
There is an annual masquerade festival in November organised by Enugu State and involves masquerade groups from various parts of the state.
The other festival with high social significance carried out by most communities in the entire Igboland is the new Yam (Iri Ji) festival, which marks the beginning of the harvest seasons for new yam. However, the festival timing varies from one community to the other in the South east. The New Yam festival raises the occasion for celebration and the offering of special prayers to God for a good harvest. It is marked with colourful displays of cultural dances and rites, including roasting and toasting of new yams, an obvious time for feasting and merry-making.

Nigeria’s Many Other Rich Festivals

Benue State
Benue State possesses a rich and diverse cultural heritage which finds expression in colourful cloths, exotic masquerades, sophisticated music and dances. These dances include Ingyough, Ange, Anchanakupa and Swange among the Tiv and Anuwowowo and Obadaru among the Idoma. The Tiv Kwagh-hir theatre provides memorable entertainment in its dramatisation of Tiv folklore and social commentary. The people of Benue State respect their traditions and values, that is why they are seen as colourful locally and internationally by their costumes and masquerades.

Abia State
Ohafia war dance festival takes place in the month of December.

Adamawa State
The state has many cultural festivals like harvest festivals, installation, wrestling contests and hunting. It also has historical places of interest like the Lamido’s palace (the seat of Emir of Adamawa in Yola, Old Palace of Harriman Yaji at Madagali, German Rest House at Kowogol) and a host of others.

Anambra State
There is the yearly Ofalla festival, the Ijele masquerade and also the annual Iri ji (new yam) festival.

Cross River State
Leboku festival in Ugep, northwest Calabar takes place annually in the month of August.

Delta State
Celebrations of traditional festivals are an annual community affair in Delta State. Almost every village celebrates a traditional festival that draws both indigenes and non-indigenes to the village. The traditional festivals usually take place between March and December of every year. Festivals occasions provide opportunities for re-union of members of the family, friends and well wishers from far and near. Some of the important festivals celebrated in the State are Adane Okpe, Iyeri, Edjenu, Okere Juju, Ine, Ulor, Ukwata and Ore-Uku.

Eboniyi State
The people of this state are Igbos with several dialects and have rich cultural heritages. This is expressed in the colourful dances namely Nkwa Umuagbogho of Afikpo and Nkwa Nwite.

Edo State
A combination of historical festival in the Bini kingdom, including Ogie Ewere takes place in the month of December.

Ekiti State
Some major festivals are common to all the Ekitis and these are Egungun festival, Ogun festival and New yam festival.

Kebbi State
One of the occupational festivals is the Argungu Fishing and cultural festival. The Argungu festival was first celebrated as a big event in 1934, when it was staged to mark the visit of the Sultan of Sokoto, Mallam Hassan Dan Mwazu to Argungu. Initially, it was an irregular get-together of local fishermen residing in the vicinity of the fishing site of Argungu. Today, it is celebrated with a lot of pomp attracting people from both within and outside the country.

Lagos State
The Eyo festival, otherwise known as the Adamu Orisha play, is a Yoruba festival unique to Lagos State. It is a revered cultural heritage of the people in the early days. But due to modernisation, it is presented by the people of Lagos as a tourist event. And because of its history, it’s traditionally performed on Lagos Island with the masquerades dressed in all white flowing robes.
The Nigeria people should not see their culture as a taboo or a curse due to modernisation, they should see it as a symbol of unity, strength and stability like in Asian and South American countries.



For centuries masquerades have remained, largely, a symbol of culture and customs. In Nigeria, they also depict the origins of particular ethinicgroup. ANTHONY ADA ABRAHAM, takes a look at the eroding effect of modernisation on Nigeria’s rich culture and values.

With colonisation in the 20th century, masquerades became more relevant as an institution for cultural entertainment. But today, modernisation has caused it to be used more for tourist attractions when they come out in colourful robes accompanied by traditional dancers and music. The masks adorned are determined by local tradition and beliefs. Best-known are those that represent the spirit of deceased maidens and their mothers symbolising beauty and peace. The masquerade may be accompanied by the elephant spirit, representing ugliness and aggression, which frightens the male spectators away from her beauty or other characters which include a pair of boy and girl, with the boy dressed up as a girl, satirising his counterpart, and animals (crocodiles, snakes etc.) which represent various local deities.

Religious Belief Reactions
This is one of the biggest killers of traditional ‘masquerades’ in the modern time. Many believe that a masquerade represents evil and could harm the innocent, but according to Pa Nwanosike, a 70-year-old man who believes in tradition, masquerades are the only viable symbols Nigeria could present to the outside world.
He said: “In those days, when someone is known as evil and people could not speak out because of fear, it is the masquerades that would come to the house to expose the person. They lash them to symbolise strength and instill fear which make people not to indulge in crime. I was in Benue State where the masquerades are celebrated both in the Tiv and Idoma lands, but now religion, especially Christianity is wiping it away.
“Even the Europeans who brought the religion to us and say our cultures are barbaric, are worse-off. They come in the name of tourism to see the masquerades mostly during festivals and they call them barbaric while taking it back to their country as modernisation.
“Their own cultures which celebrate same-sex practice like gays and lesbians, which is more barbaric? Unfortunately the youth of today do not know what masquerades or festivals are all about; they think it’s just to have fun. If we don’t preserve our heritage and values now, soon we will have no history to fall on in the name of modernisation as even some of our children cannot speak their respective dialects now. It’s good for the parents to tutor their children the importance of culture and for the youth to help to preserve their culture because you can’t be like an American in Nigeria, it’s just not possible.” He explained.
But Matthew Idoko said the fault is not solely the youths but the elderly as they are the ones who have failed to teach their children from childhood. They speak English to their children just to belong and when the children grow, they are not able to say ‘come’ in their respective dialects.
“I can’t speak my language because my parents don’t speak it at home; they have westernised us and tomorrow they will say the youth are not ready to learn or are selling their culture. The only thing you can’t teach a child when he’s grown is his language but one could learn English at anytime. Though I agree with pa Nwanosike, I don’t think that all the blame should be on us, they have the greater blame,” Idoko responded.

Masquerades As Symbol Of Unity
Masquerades appear in accordance with requisite community festivals calendar, burial rites and other social events. The masquerades are adorned in colourful robes and masks made of wood or fabric. Some masks appear in one festival only, but the majority appear in as many as possible. Masquerades are associated with spiritual elements. According to Igbo belief, they represent images of deities or sometimes even dead relatives. The identity of the masquerade is a well-kept secret and are societies populated mostly by men and performed exclusively by men.
In the past, masquerades were regarded as the means for maintaining peace and order and were primarily used to enforce laws governing the community. The whole village would come out for the ceremony of the colourful masquerades. While entertaining through dances and exhibiting extra-ordinary human feats, the masquerades would walk up to certain individuals and loudly expose any criminal deeds, bad habits or behaviour of that person. As people would always take corrections from these exposures, the masquerades were effective in keeping up with traditional norms and values in the communities.

Igbo Masquerades
There is an annual masquerade festival in November organised by Enugu State and involves masquerade groups from various parts of the state.
The other festival with high social significance carried out by most communities in the entire Igboland is the new Yam (Iri Ji) festival, which marks the beginning of the harvest seasons for new yam. However, the festival timing varies from one community to the other in the South east. The New Yam festival raises the occasion for celebration and the offering of special prayers to God for a good harvest. It is marked with colourful displays of cultural dances and rites, including roasting and toasting of new yams, an obvious time for feasting and merry-making.

Nigeria’s Many Other Rich Festivals

Benue State
Benue State possesses a rich and diverse cultural heritage which finds expression in colourful cloths, exotic masquerades, sophisticated music and dances. These dances include Ingyough, Ange, Anchanakupa and Swange among the Tiv and Anuwowowo and Obadaru among the Idoma. The Tiv Kwagh-hir theatre provides memorable entertainment in its dramatisation of Tiv folklore and social commentary. The people of Benue State respect their traditions and values, that is why they are seen as colourful locally and internationally by their costumes and masquerades.

Abia State
Ohafia war dance festival takes place in the month of December.

Adamawa State
The state has many cultural festivals like harvest festivals, installation, wrestling contests and hunting. It also has historical places of interest like the Lamido’s palace (the seat of Emir of Adamawa in Yola, Old Palace of Harriman Yaji at Madagali, German Rest House at Kowogol) and a host of others.

Anambra State
There is the yearly Ofalla festival, the Ijele masquerade and also the annual Iri ji (new yam) festival.

Cross River State
Leboku festival in Ugep, northwest Calabar takes place annually in the month of August.

Delta State
Celebrations of traditional festivals are an annual community affair in Delta State. Almost every village celebrates a traditional festival that draws both indigenes and non-indigenes to the village. The traditional festivals usually take place between March and December of every year. Festivals occasions provide opportunities for re-union of members of the family, friends and well wishers from far and near. Some of the important festivals celebrated in the State are Adane Okpe, Iyeri, Edjenu, Okere Juju, Ine, Ulor, Ukwata and Ore-Uku.

Eboniyi State
The people of this state are Igbos with several dialects and have rich cultural heritages. This is expressed in the colourful dances namely Nkwa Umuagbogho of Afikpo and Nkwa Nwite.

Edo State
A combination of historical festival in the Bini kingdom, including Ogie Ewere takes place in the month of December.

Ekiti State
Some major festivals are common to all the Ekitis and these are Egungun festival, Ogun festival and New yam festival.

Kebbi State
One of the occupational festivals is the Argungu Fishing and cultural festival. The Argungu festival was first celebrated as a big event in 1934, when it was staged to mark the visit of the Sultan of Sokoto, Mallam Hassan Dan Mwazu to Argungu. Initially, it was an irregular get-together of local fishermen residing in the vicinity of the fishing site of Argungu. Today, it is celebrated with a lot of pomp attracting people from both within and outside the country.

Lagos State
The Eyo festival, otherwise known as the Adamu Orisha play, is a Yoruba festival unique to Lagos State. It is a revered cultural heritage of the people in the early days. But due to modernisation, it is presented by the people of Lagos as a tourist event. And because of its history, it’s traditionally performed on Lagos Island with the masquerades dressed in all white flowing robes.
The Nigeria people should not see their culture as a taboo or a curse due to modernisation, they should see it as a symbol of unity, strength and stability like in Asian and South American countries.


http://leadership.ng/entertainment/353448/masquerades-festivals-giving-way-modernisation