Showbiz
Fashion Designer Tasks FG on FX Stability, Says 2024 Will be Good for Business

By Bon Peters
A Port Harcourt-based fashion designer, Ms Angela Wells, has said she’s optimistic 2024 would be a good year for business, though she tasked the federal government to redouble its efforts to ensure stability in the foreign exchange (FX) market.
Speaking to journalists on the sidelines of her annual event tagged Shop and Chop in Port Harcourt, the Rivers state capital recently, Ms Wells maintained that 2023 was a turbulent year for business, noting that it was by the grace of God that many entrepreneurs survived.
On the reason behind such assertion, the fashion expert noted that the exchange rate was not stable, insisting that the federal government, under the leadership of President Bola Ahmed Tinubu, should redouble efforts to ensure that naira is strengthened.
“Those of us who deal in imported materials for our attires did not find it funny in 2023. A situation you will wake up and your supplier tells you Dollars today is exchanging for N1,000 or above, only what you do is to struggle to survive,” she said.
“In a situation where you have already agreed with your customers on the price and quality of the materials, you would still have to design according to agreement and specifications despite the increase in the purchasing of the materials for the work,” Ms Wells added.
Ms Wells is the chairman and chief executive of Precise Look International, a fashion-designing business concern. She hails from the Ugwunagbo local government area of Abia State and runs one of the exquisite traditional fashion shops in Port Harcourt, Rivers State.
She said her thrust for organizing an annual fashion show was to draw the attention of the state government to the need for fashion tourism, insisting that such can attract more revenue to the state government and generate employment for the youth even as she called on people of the same vision for collaboration for fashion exhibition in Rivers state.
It would be recalled that the event, which featured a fashion exhibition, masquerade displays, and high-life music, attracted many persons from all walks of life.
The programme offered participants a 50 per cent discount on every traditional attire purchased, free food for every buyer, gifts for all the children, and others.
Giving a historical account of her business, Ms Wells said she started her business in 2000 with the N10,000 she saved from the sale of oranges.
“It was in the year 2000, here in Oruworukwu, Rivers State, that I started this business with only N10,000 which I saved from the sale of oranges.
“I was pushing wheelbarrow around, hawking traditional dresses and others but today, when I look back and see what I have achieved so far, it is only God that I give all the glory,” she recounted.
On the challenges faced during her early stages, she said, “It wasn’t easy for me, a young girl hawking dresses in a wheelbarrow, and you know, my customers were mainly men, most of them who patronized me would always want to go down with me, but in all these, I was able to overcome because I was focused, committed and resilient.”
On the get-rich-quick syndrome in society at the moment, especially among young girls who depend on selling their bodies for money, Ms Wells admonished them to learn a trade to sustain themselves.
“If I can survive with N10,000 then, you can also survive no matter the amount you use in starting the business, I assure you determination is the key,” she emphasised.
Looking into the 2024 business climate, Ms Wells noted that though it would not be rosy at the beginning, “this year will be better than last year.”
Showbiz
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Showbiz
Court Remands Former P-Square Manager Jude Okoye in Ikoyi Prison

By Aduragbemi Omiyale
Justice A.O. Owoeye of the Federal High Court, sitting in Ikoyi, Lagos on Wednesday ordered the former manager of the defunct music group, P-Square, Mr Jude Okoye Chigozie, to be remanded in the Ikoyi Correctional Centre.
The showbiz personality was brought before the court by the Economic and Financial Crimes Commission (EFCC) alongside his company, Northside Music Limited, on a seven-count charge bordering on money laundering to the tune of N1.38 billion, $1 million and £34,537.59.
“That you, Jude Okoye Chigozie and Northside Music Ltd sometimes in 2022, in Lagos, within the jurisdiction of this court, did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth N850 million, which money you knew or reasonably ought to have known forms part of proceeds of unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022,” one of the charges read.
“That you, Jude Okoye Chigozie and Northside Music Ltd sometimes in 2022, in Lagos, within the jurisdiction of this court, did indirectly using bureau de change, converted the sum of $1,019,762.87, domiciled in Access Bank Plc operated by Northside Music Ltd to the naira equivalent and remitted into various bank accounts with intention of concealing that the said fund formed part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022,” another charge read.
After the charges were read to him, Mr Okoye pleaded “not guilty”, following which prosecution counsel, L.P. Aso, applied for a trial date and for him to be remanded in a correctional facility.
However, his lawyer, Mr Inibehe Effiong, informed the court of his client’s bail application and prayed for a short date of adjournment to enable its hearing, praying the court to have the defendant remanded in the EFCC custody pending the hearing of the bail application.
But the prosecution counsel objected, arguing that the commission’s holding facility was already congested with suspects awaiting arraignment and that the court should remand the defendant in the correctional facility since he has taken his plea.
Justice Owoeye ordered that the defendant be remanded in Ikoyi Correctional Centre and adjourned the matter till February 28, 2025, for the hearing of the bail application and April 14, 2025 for trial.
Showbiz
How to Invest in Art Like a Pro

By Marelize van Zyl
Art has become an increasingly attractive alternative investment, offering the opportunity to diversify one’s portfolio, while having the potential for significant returns. One of its biggest advantages is that, at the very least, it tends to hold its value, and, over time, it can appreciate, all while offering buyers the pleasure of enjoying their acquisitions.
The global art market was valued at $552 billion in 2024 and is projected to grow to $585.98 billion in 2025 and $944.59 billion by 2033. This growth is primarily driven by increased artwork sales, particularly among high-net-worth individuals seeking to include art in their investment portfolios alongside traditional assets like stocks, bonds, and real estate. However, investing in art is not exclusive to the wealthy – aspiring collectors can enter the market by acquiring more affordable pieces from emerging and up-and-coming artists.
If you’re looking to start your journey into art collecting and investment, here are some valuable tips:
- Understand the factors that influence value
Before making a purchase, it’s essential to understand what contributes to the value of art:
Several factors influence price appreciation, including:
- The artist’s status and biography – Well-established artists with a strong reputation have higher demand, and promising emerging artists showing potential and growth in their careers allow for significant returns on early investment in their works.
- Provenance – An artwork’s commercial and ownership history as well as its exhibition and literature records can significantly impact its value.
- Artistic significance – Works that play an important role in an artist’s career or the broader art movement in terms of subject matter, medium or styles tend to appreciate more.
- Market trends – Staying informed about which artists and styles are gaining traction can help make informed investment decisions.
- Seek expert advice
Navigating the art market requires knowledge and experience. Consulting specialists who understand market trends and artist trajectories can differentiate a purchase that holds its value from one that significantly appreciates. A well-advised acquisition can result in exponential returns.
For example, in 2012, I sold a still life titled I Love You All the Time by Georgina Gratrix for R45,000. By 2018, her career had flourished, leading to the artwork selling at an Aspire Art auction for R591,000, providing an astounding 1,211% return on investment. Similarly, a Lisa Brice artwork purchased in 2018 for R39,000 sold for R1.2 million in 2023, showcasing the immense appreciation potential in the contemporary art market.
- Explore emerging artists
While investing in blue-chip artists like Irma Stern, whose paintings average R5 million, is a secure way to preserve capital, identifying promising emerging artists can be an exciting and lucrative endeavour. Cinga Samson, for example, started painting in a shared artist studio in Khayelitsha, Cape Town. By 2021, after securing a solo show in New York and being signed by leading galleries, his works began reaching £321,300 at auction. An early piece, originally bought in 2010 for R1,700, later sold for R240,000 in 2023. This demonstrates how strategic investments in emerging talent can yield substantial rewards.
- Consider online auctions and payment flexibility
For new collectors, online art auctions are an effective way to enter the market, offering exposure to a variety of artworks and pricing insights. Aspire Art recently introduced a “buy now, pay later” model, allowing buyers to pay off artworks interest-free over three months, making art collecting more accessible.
- Exercise patience and build a long-term strategy
Investing in art is a long-term commitment. While some works appreciate rapidly, others take years or even decades. Art collecting is a passion-driven pursuit that can become a lucrative investment when approached strategically.
- Take advantage of the current buyer’s market
Right now, market conditions favour buyers, making it an opportune time to start investing in art. With careful selection and strategic acquisitions, investors can lay a strong foundation for future appreciation as market dynamics evolve.
Marelize van Zyl is the CEO of Aspire Art
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