One on of the founding distributors of Nollywood movies, Gabriel Okoye famously known as Igwe Gabosky is presently running around like a headless chicken trying to prevent his house and other properties from being sold by the Bank of Industry.
Igwe Gabosky revealed on Monday in a meeting between the Nigerian Police force and the creative industry that activities of pirates in Lagos have ruined his business and he cannot pay back a N500M loan he took from the bank of industry, hence the bank Is after his house and other properties he used as collateral.
READ ALSO: Immaturity Made Me Walk Naked -Anita Joseph
The loan, according to Gabosky was meant to create the biggest and most reliable distribution network for intellectual properties in Africa , but pirates have crashed the dream and have left him bankrupt
“the first movie I was to market is “half of a yellow”, before I even finished printing the jackets pirates had already flooded the market with fake copies and were selling them for cheap money.
READ ALSO: Rapper Vector Knocks Down Olamide, Ice Prince, Ycee
The second one was “30 Day In Atlanta”, produced by AY and again movie pirates took over and AY was crying over it. The third one was Kunle Afolayan’s “October 1”, I was in South Africa doing some negotiation the street were already flooded with pirated copies. Now these guys have made me helpless.
Go to Alaba international market, the traders behave as if they are an independent state in Nigeria and intellectual property laws do not work in the market. I am glad that the Police are coming to our rescue” he lamented.
