A special meeting in the industry. In that meeting, a company executive  was worried that if the company’s stock continues to rise, it could be a huge risk on the design team retention. In most microelectronics companies, designers are the elite teams; they get generous stock options. The challenge is that as company stocks accelerate, stock options make people richer.

For the executive, some of those designers could just cash out and resign, because they have become rich. And if that happens, the company would struggle. He explained his experience during the 1990s how he lost a team because the engineers became rich via stock options, and resigned. Follow me…

Now that Bitcoin has touched $60,000 and could keep growing, what happens to national productivity if people buy coins, and just wait for parabolic returns? For company stocks, at least you are sending money to companies to help them continue to operate and expand, but on coins, it is an entirely different thing. Yes, no real product is created even though you believe that someone will buy the coin later from you at a higher rate. How will that affect national GDP as you can have zero economic activity and still deliver a massive income?

Interesting times ahead…with AI and Bitcoin.

Crypto Capitalization Recaptures $2 Trillion Market Cap as Price of Bitcoin Climbs Above $58,000

I am privileged to serve as a legal expert with Legit Ng news and at the forum, one of the recent questions that was thrown to me was; “A popular bank used my photo for an advert without my consent, can I sue them”?

Here is my answer!

The direct and straightforward answer to this question is “Yes, you have the right of action to sue the bank or any other person not just for infringing on your image copyright by making use of your intellectual property without your consent but for also invading your privacy as constitutionally provided.

By the provisions of intellectual property laws, every individual is entitled to be the full owner of his image, his slogan or name (if trademarked) and his invention and any other person or organization who wants to make use of a person’s intellectual property, especially for advertisement or commercial purposes must do so with the full consent, permission and approval of the owner, originator or inventor. 

I remember in 2022, a stranger walked into my office and narrated how a popular bank in Nigeria, came to the market where she sells to take some pictures of the market and of the market traders; she sells food groceries in Wuse market, Abuja. The bank took some pictures of some market sellers and took her pictures as well in her outlet. She was surprised to subsequently see her pictures on billboards around the city Centres erected by the banks for their commercial campaigns without any prior conversation with her or even asking for her approval for the advertisement. 

I wrote to the bank demanding that the billboard be taken down and the woman, who is now my client, be compensated for the advertisement or we take the matter to court. The bank listened to the voice of reason and complied with our terms. 

Same 2022, it made headlines that Sabinus and his lawyer (which is me) dragged Peak Milk and Gala to court demanding one billion naira compensation for using his image and his trademarked slogan for advertisement without his consent. Acting as Sabinus’s lawyer, I merely brought an action in court demanding fair compensation for the intellectual property infringement of my client Mr Chukwuemeka Emmanuel Aka Sabinus. We have settled out of court with one of the companies and we are still before the court with one of the companies hence why I won’t delve so much into it until the court makes final pronouncement on the matter. 

Last year, precisely on the 14th of August 2023, Palmpay Ltd (popularly known as Palmpay), a renowned Neo bank carrying operation in Nigeria made a post on their official X (formerly Twitter) page. The post was captioned; “morning mood when you fund your cowry wallet on Palmpay App”. This post was attached with an image of Mr Darlington Achakpo, Aka Speed Darlington/Akpi, a famous Nigerian musician and entertainer. 

Mr Speed Darlington retained my service as his lawyer to help him seek Judicial remedy for the infringement. We filed an action in court seeking 200 million Naira in damages for the infringement. 

Palmpay Ltd subsequently admitted their wrongdoings and reached out to us for an out-of-court settlement. They fairly compensated my client Mr Speed Darlington for the breach.

All these examples which I was personally involved as the lawyer to those whose intellectual properties have been used for advertisement without their consent show that you have the right to seek damages in court and the court will definitely grant you one if your picture or any of intellectual properties was used for advertisement without your consent. You deserve to be fairly compensated for it.

Africa, with its abundance of strategic resources, favorable demographics, and attractive growth prospects, is set to become a pivotal player in global geopolitics. While challenges such as intra-regional conflicts, widespread poverty, and corruption persist, there are several factors that indicate a positive trajectory for the continent.

Africa’s population is projected to reach 2.5 billion people by 205, constituting approximately a quarter of the world’s populace. The median age for the continent is just 18 years, significantly younger than any other region. As a result, the African middle class is expected to grow substantially, reaching 1.1 billion by 2060. This demographic dividend will drive consumer spending and economic growth.

The African continent boasts 30% of the world’s mineral reserves, including rare earth metals critical for modern technologies. Demand for these resources is expected to soar in the coming years. Additionally, e-commerce is on the rise across Africa, with internet users projected to increase from 520 million in 2021 to over 850 million by 2030.

Global standards for democracy and sovereignty have matured, providing African countries with institutional backing to protect their resources from exploitation. This support helps deter asymmetrical plundering of Africa’s wealth.

The U.S.-China rivalry continues to play out on the global stage, with Africa being no exception. While the jockeying for standing between the United States and China is more intense in the Asia-Pacific region, where the threat of military conflict is real, Africa has not escaped this growing great power rivalry.

China’s engagement with Africa dates back to the continent’s pre-independence period when ideologically driven Beijing supported liberation movements fighting colonial powers. Today, China still draws political goodwill from this legacy. However, it’s China’s commercial engagement that has ballooned over the last two decades and is most significant.

Infrastructure Lending: China is the biggest infrastructure lender in Africa. Its Belt and Road Initiative (BRI) has given Beijing high standing in many African countries. Trade Partnership: China is a top trade partner for African nations.

Political and Cultural Influence: China actively seeks political and cultural influence by providing political party training, building government buildings, and donating sports stadiums and hospitals.

Forum on China-Africa Cooperation: China has committed to a well-developed and consistent Africa policy centered around its Forum on China-Africa Cooperation, held every three years.

U.S. Policy Toward China in Africa

While the Biden administration may seek general areas of cooperation with Beijing, its Africa policy will certainly reflect its overarching aim of challenging China. The Trump administration had made countering China a priority in its Africa policy. Growing Bipartisan Support: There is growing bipartisan support in the U.S. Congress for “hardline” policies.

As U.S. policy has increasingly focused on countering China’s influence worldwide, Africa has also come under this lens. While the administration and Congress consider approaches and policy options, it is important to ask what Africans think of U.S. efforts to counter China’s growing role on their continent. While U.S. foreign policy should serve American interests, it will be most successful if cognizant and, when possible, reflective of the interests and aspirations of Africans.

According to Afrobarometer data, China is generally viewed favorably by Africans. In recent surveys conducted across 16 countries, 60% of respondents said that China’s influence is “somewhat” or “very positive.” This is down slightly from 65% who held this view five years ago, with declines in 10 of the 16 countries surveyed. However, a few countries report increases in positive views, led by Ghana with a 13% increase.

While the common perception held by outside observers is that China’s influence in Africa is growing, Afrobarometer reports that Africans perceive Chinese influence as having declined in almost all countries surveyed. This nuanced view highlights the need for U.S. policymakers to consider local perspectives when formulating policies related to Africa and its engagement with China.

The Biden administration’s U.S. Africa strategy acknowledges that “Sub-Saharan Africa’s governments, institutions, and people will play a critical role in solving global challenges.” It also recognizes that China views Africa as “an important arena to challenge the rules-based international order’‘.

As Nigeria goes through a challenging season of economic paralysis, I want you to remember that nations rarely kaput. I introduce two men I study – Carlos Slim (Mexican billionaire) and Franklin Templeton (stock picker of the 20th century). These men demonstrated tenacity at a time their respective nations were under stress. Yes, even in the miry clay, they saw an unbounded future – and they won.

Franklin Templeton began a firm in 1947, against all odds, at the ruins of World War II. Mr Slim bought anything in his sight at one of the lowest points in Mexican history – the peso was down and markets in ruins. Templeton trusted the human race and bought “useless” stocks. Slim’s father told him that countries do not fail; they always come back.

Uber was founded during a great recession. Airbnb was founded during a great recession. If both had been conceived during a time of abundance, both would have failed. Becoming successful in life is not about being busy; it is about understanding things and making sense of them, more meaningfully. There are acres of diamond in Nigeria today, across many areas. Look for them. If you do not believe in humans and the aspirational spirits in communities, it is unlikely you can see opportunities in life. 

This current moment will go and like the cryolite, the beautiful gems out of periwinkle, new moments will emerge. Unless you crack the periwinkle, the cryolite rarely emerges. Do not lose confidence because abundance remains in the future. The key is productive exploration of opportunities. Think and thrive; Nigeria has acres of “diamond” you can mine.

At Tekedia Capital, we want to invest in companies which can thrive even in a time of recession or economic stress. Yes, the Ubers and Airbnbs of Nigeria. We #believe. 

As Nigeria goes through a challenging season of economic paralysis, I want you to remember that nations rarely kaput. I introduce two men – Carlos Slim (Mexican billionaire) and Franklin Templeton (stock picker of the 20th century). These men demonstrated tenacity at a time their… pic.twitter.com/3CiH9mM87P

— Ndubuisi Ekekwe (@ndekekwe) February 28, 2024