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US Senator Elizabeth Warren urges White House to regulate crypto

By
Paul Ugbede Godwin
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0
White House

In a letter addressed to President Joe Biden, US Senator Elizabeth Warren expressed her concerns about the risks posed by the unregulated cryptocurrency market. She argued that crypto is a national security threat that can be used to fund terrorism, evade sanctions, and undermine the US dollar.

Warren, who is the chair of the Senate Banking Subcommittee on Economic Policy, cited several examples of how crypto has been used for illicit purposes, such as ransomware attacks, money laundering, and terrorist financing. She also pointed out the environmental and consumer protection issues associated with crypto, such as high energy consumption, price volatility, and fraud.

The senator acknowledged that crypto also has some potential benefits, such as increasing financial inclusion, innovation, and efficiency. She noted that some crypto projects are trying to address the challenges and limitations of the current system, such as reducing transaction costs, enhancing privacy, and improving cross-border payments. She stated that she supports the development of responsible and beneficial crypto technologies that can serve the public interest.

However, Warren stressed that these benefits cannot be realized without proper regulation and oversight. She called on the White House to use its executive authority to coordinate a comprehensive regulatory strategy for crypto.

She urged the administration to appoint a “Crypto Czar” who would oversee the development and implementation of a clear and consistent framework for crypto regulation. She also recommended that the White Housework with Congress to enact legislation that would address the gaps and challenges in the current regulatory landscape.

Warren stated that crypto regulation is necessary to protect the national security, economic stability, and democratic values of the US. She warned that if the US fails to act, it will cede its leadership and influence on other countries that are more proactive in regulating crypto.

She concluded her letter by saying that “the longer that the United States waits to adapt to the growing role of cryptocurrencies in the global financial system, the more likely it becomes that digital assets will become so intertwined in our financial system that there could be potentially serious consequences if we fail to act.”

Gas station in Florida first in the U.S. to accept Bitcoin Lightning payment

A new milestone for cryptocurrency adoption has been reached in Florida, where a gas station in Jacksonville has become one of the first in the U.S. to accept Bitcoin Lightning payments.

The station, which is located on Atlantic Boulevard, has installed a Bitcoin ATM that allows customers to buy and sell Bitcoin, as well as pay for gas and other items using the Lightning Network.

The Lightning Network is a second-layer solution that enables fast and cheap transactions on top of the Bitcoin blockchain. It works by creating channels of payment between users, who can send and receive Bitcoin without having to wait for confirmation on the main chain.

This reduces the fees and congestion that often plague Bitcoin transactions, especially during periods of high demand.

The owner of the gas station, Raj Patel, said he decided to embrace Bitcoin after learning about its potential benefits for his business and customers. He said he was impressed by the speed and convenience of the Lightning Network, which allows him to process payments in seconds, without having to worry about chargebacks or fraud. He also said he hopes to attract more customers who are interested in using or learning about Bitcoin.

“I think Bitcoin is the future of money, and I want to be part of it,” Patel said. “I believe that more people will start using Bitcoin once they see how easy and fast it is. I want to offer them a place where they can buy gas, snacks, and Bitcoin all in one stop.”

Patel said he plans to add more Bitcoin ATMs and Lightning-enabled terminals at his other gas stations in the area. He said he has received positive feedback from his customers, some of whom have already used the Lightning Network to pay for their purchases.

“It’s amazing how simple it is. You just scan a QR code, and the payment is done”, a regular customer who paid for his gas using Bitcoin. “I think this is a great way to support Bitcoin and also save some money on fees.”

Patel said he hopes that his gas station will inspire other businesses to adopt Bitcoin and the Lightning Network, and that he is happy to share his experience and knowledge with anyone who is interested.

“I think this is a win-win situation for everyone. I can offer better service and lower prices to my customers, and they can enjoy the benefits of using Bitcoin,” Patel said. “I think this is the beginning of a new era for cryptocurrency adoption.”

Be Your Brand And Recommend Yourself in your Absence

By
Ndubuisi Ekekwe
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0

A great conversation today on visibility and invisibility of business leaders and their companies. As I noted, you must find what works for you. Without visibility, one of the Kardashians might not have built KKR Beauty which she grew to $1 billion before Coty Inc came along. Her market was her social media handles; she outsourced manufacturing and logistics. 

Young People, get this from me: the most important factor today in the digital era is not Supply of products. Yes, there is nothing in the market, people do not have options. The most catalytic element in the market is the ability to influence DEMAND. What does that mean? In the golden era of newspapers, Supply of news was controlled by publishers and editors. And to reach readers, you needed to compete for the small print space in newspapers. In that space, the newspapers influenced demand, and advertisers paid huge money in order  to reach those readers.

But in this area, Supply of news is unbounded and unconstrained since anywhere you go, there is a channel to consume news. So, the real issue now is no more who supplies news but who makes it manageable (i.e. aggregate or filter) for people to pick the right ones. That is where Google, Facebook, LinkedIn, Twitter, etc become the lords. Magically, power moves to them and advertisers follow their commands, crippling the old business models of the newspapers.

If you extrapolate that, you will notice that you have a higher chance of getting a new job if you have professional articles on Linkedin on that subject matter than someone who has no digital footprint. It is the same thing when people work in companies and hope that their work will just speak for them, even if they make no effort to tell them about their work.

Humans Talk, Not Work

Humans talk; work does not! Make humans know what you are doing. Yes, until humans know what you are doing, none will recommend you in your absence. And there is no career which can advance if it cannot get some recommendations in absence.

For founders: when you promote your product, do not be ashamed. If you believe your product is the best, you are serving society by making sure people know the best product out there. If you do not do that, you are depriving humans the opportunity to use the best product. That is why I promote Tekedia Mini-MBA, Tekedia Capital, Fasmicro Intel partnership,  etc because those are the best. Period.

Think about this: if Ndubuisi Ekekwe does not do just that, I am not fair to people who are not aware of our services. Rethink your position as a business leader; it is not just a title; you are the chief marketing officer, chief product officer, despite other people who may have those titles in the firm.

Tell us what you do. You can do it and must not hire a PR machine. For me, I run a business school which attracts more students than any university in Africa!

Comment on Feed

Comment 1: Your insight is as accurate as it is brilliant. America is a society that is given to hyperbole, possibly because of the cut throat competition that is an inbred characteristic of capitalism. Even at that, as Ndubuisi Ekekwe subterraneanly suggests, you will be addressed the way you elect to address yourself. No one can, or will, for that matter, market you as well as yourself. The world is under no obligation to burnish a brand that even you do not appear particularly enthusiastic about buffing. Nothing is to be gained by making yourself look small, other than to manifest smallness in your life. To indulge in ineffectual grandstanding, in order to exhibit a humility which you probably do not even remotely feel, is to curry a potential client’s instant devaluation of his conceptual estimation of you. Thank you, I will advise the young artist accordingly.

Comment 2: ?! Learn first to be your own best advocate before expecting others to do the same for you. Ensure you are seen and heard. No matter how “fantastic” your work is, it’s only a small part in the equation. We should deliver, but also pride ourselves on it and let it be known (chest pump!) when opportunities arise. Create opportunities to show and introduce yourself. Visibility, image, advocacy matter more!!

How To Register A Licensed Private Security Guard Company In Nigeria

By
Emmanuel Ifeanyi Ogbuka
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0

Private Guard Companies are engaged mainly in the provision of security guard services for private individuals and companies and are in fact subject to a wide range of regulatory provisions.

Private guard services have proven to be one of the fastest rising business niches in Nigeria, prompting the need for more detailed regulatory oversight.

This article will be looking at how to set up a licensed private guard company in Nigeria and provisions of the regulatory framework governing such companies in Nigeria.

Can any individual or organisation engage in private guard services in Nigeria?

No individual or organization shall perform the service or guarding, patrolling or carrying of money for the purpose of providing protection against crime unless the organization concerned :-

– Is a registered company.

– Has applied for & has been granted a license to do so.

Which agency is in charge of regulating private guard companies in Nigeria?

Private guard companies in Nigeria are licensed & regulated by the Federal Ministry of The Interior through the Nigerian Security & Civil Defence Corps (NSCDC).

What is the nature of licenses given to private guard companies in Nigeria?

– Private guard company licensing is valid for 2 years from the date of issue before requiring renewal.

– Any such license shall specify the number of offices, branches or other places of business which the  company is permitted to maintain.

– A license may be suspended or revoked by the interior minister at any time he is satisfied that such company is unsuitable to hold such license.

How many directors are required for private guard companies in Nigeria?

Private guard companies are required to have 3 (Three) directors, one of who should be a retired military or paramilitary personnel from the rank of major or commissioner.

How many foreign directors are allowed for private guard companies in Nigeria?

Foreigners are not permitted to be directors in Nigerian private guard companies.

What is the minimum share capital for private guard companies in Nigeria?

Private guard companies are required to have a minimum share capital of 10 Million Naira.

What are the requirements for private guard company licensing in Nigeria?

– An application to the NSCDC.

– Copies of the applicant company’s Certificate of Incorporation and Memorandum and Articles of Association (MEMART).

– A Letter from a legal adviser.

– A letter from the applicant’s bankers and auditors.

– A proposed guard training program.

– A proposed salary structure.

– Veterinary certificates (where animals such as dogs are to be employed by the company).

– Eight (8) passport photos of each director.

– An application fee of 500 Thousand Naira.

– Tax clearance certificate.

What are the license categories for private guard companies in Nigeria?

Category A

– This license allows for having more than 3,000 guards

– Carries a license fee of 3 Million Naira

Category B

– This license category allows for the employment of no more than 3,000 guards.

– Carries a license fee of 2 Million Naira. 

What are the activities classified as prohibited for private guard companies?

– Acting as debt collectors.

– Acting as police officers.

– Using the expression “private detective”

– Divulging confidential information acquired in the course of employment under this act.

– Using or deploying guards wearing uniforms resembling those of military or paramilitary personnel of Nigeria.

Kiranjit Ahluwalia; Defense for Domestic Abuse

By
Stanley Alieke
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0

Kiranjit Ahluwalia, an Indian woman residing in the UK with her husband was serially abused and sexually molested by her husband for a continuous period of ten years until she was no longer able to take it and decided to burn the husband to death in 1989. 

Through this case of Kiranjit Ahluwalia, the court was able to set the law in motion subsequently leading to the passing of the law stating that marital rape is statutory rape. This means that a husband who forced himself on his wife thereby having sex with her without her consent can be prosecuted for rape and the same goes for a wife that forces herself on the husband.

After Kiranjit Ahluwalia set her husband ablaze thereby burning him to death, She was subsequently arrested and charged with murder but she raised the defense of provocation claiming that her husband had abused her for the past 10 years thereby “raising the possibility of a slow-burn anger that led to her snapping and setting her husband ablaze”. This defense failed and she was convicted of murder but on appeal, the judgment was reversed and the conviction for murder was swapped to a conviction for manslaughter, although the reversal of the judgment was not based on her defense of provocation or slow burn of anger but on other reasons. 

This case has remained one of the notable cases in English jurisprudence, it has gained popularity from the fact that the defendant is said to have been serially abused by the partner until she couldn’t take it anymore and retaliated thereby burning him to death. Some persons have argued using this case as a basis that accumulated anger or grievance is enough ground to raise the defense of provocation and that an abusive husband deserves whatever he gets in return.

This case also gained popularity by the reason of some lawyers using it as a judicial precedent for marital rape. Through this case, the court acknowledged the fact that a spouse can rape his or her spouse even when they are statutorily married. The old rule was that once you are married to a spouse, he or she can have sex with you any time even if you consent to it or not, but through this case, the new rule of marital rape got a judicial acknowledgement. A year after this case, marital rape was declared rape in England in 1991.

President Biden to ask congress for $100 billion in funding for Ukraine and Israel

By
Paul Ugbede Godwin
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0

In a major foreign policy move, President Joe Biden announced on Wednesday that he will ask Congress to approve $100 billion in additional funding for Ukraine and Israel, two key allies facing security threats.

The president said that the funding will help bolster the defense capabilities of both countries, as well as support their economic development and democratic reforms. He also said that the funding will send a clear message to the adversaries of the United States and its allies that they will not tolerate any aggression or interference in their sovereignty.

The president’s announcement comes amid escalating tensions in Eastern Europe and the Middle East, where Russia and Iran have been accused of pursuing destabilizing actions and violating international norms. In recent weeks, Russia has amassed tens of thousands of troops near the border with Ukraine, raising fears of a possible invasion or annexation of parts of the country.

Meanwhile, Iran has continued to enrich uranium beyond the limits set by the 2015 nuclear deal, which the United States withdrew from in 2018 under former President Donald Trump.

The president said that he has been in close consultation with the leaders of Ukraine and Israel, as well as other allies and partners in Europe and the region, to coordinate a unified response to the challenges posed by Russia and Iran. He also said that he has been in dialogue with the leaders of Russia and Iran, urging them to de-escalate the situation and respect the international rules-based order.

The president stressed that the United States remains committed to diplomacy and dialogue, but also to defending its interests and values, as well as those of its allies and partners. He said that the proposed funding for Ukraine and Israel is not only a matter of security, but also of solidarity and shared values.

President Biden’s proposal is expected to face opposition from some members of Congress, who may question the need, cost, and effectiveness of such a large aid package. Some critics may also argue that the funding would escalate the tensions in the region, rather than reduce them. However, President Biden said that he is confident that he can persuade Congress to approve his request, saying that “this is not a partisan issue, but a national security issue”. He said that he will work with both parties to ensure that the funding is approved as soon as possible.

President Biden’s announcement has been welcomed by Ukraine and Israel, who expressed their gratitude and appreciation for the U.S. support. Both countries said that they share the same vision of a free, prosperous, and peaceful region, and that they are ready to cooperate with the U.S. and other allies to achieve it. They also said that they are willing to engage in constructive dialogue with Russia and Iran, but only on the basis of respect for their sovereignty and interests.

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