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Lagos Blue Rail Line to Begin Operation Sept 4, Costs N750 Per Trip

By
Samuel Nwite
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0

The Lagos State Government has announced that the first phase of the Blue Rail Line will commence commercial operation on Monday, September 4, 2023.

In a statement titled, ‘Lagos to commence blue rail line operation on Monday’, the state government said the commencement of the Blue Rail Line operation will be followed by other activities that will sustain the transport initiative.

The managing director of Lagos Metropolitan Area Transport Authority, Mrs Abimbola Akinajo made this known at the marina train station.

According to the LAMATA MD, the first train ride will kick off by 9. a.m. with Governor Babajide Sanwo-Olu on board, along with other passengers, which is from Marina to Mile 2 train station.

Lagosians have eagerly anticipated the kickoff of the Blue Rail Line since it was commissioned by former President Muhammadu Buhari on January 24, 2023.

The commissioning of the project included the signing of paperwork for the commencement of Phase 2 of the project, which covers from Mile 2 to Okokomaiko. The event was also witnessed by Buhari.

As a segment of the Lagos Rail Mass Transit, the Blue rail line will stretch over a distance of 27.5 km, connecting Marina to Okokomaiko. It will feature 13 stations and facilitate an end-to-end travel time of 35 minutes. The stations are at Marina, National Theatre, Orile Iganmu, Suru-Alaba, and Mile 2, while phase two upon completion, will extend the line 27km to Okokomaiko in Ojo.

The complete Blue Line system will operate on a dedicated and secure pathway, entirely separated from road traffic and pedestrians, eliminating both level crossings and unregulated entry points.

In February 2023, the state government initiated a 2-month trial run of the 13-kilometer Lagos Blue Line train service.

The statement quoted the LAMATA MD explaining how the operations will unfold.

Mrs Akinajo explains that for the first four weeks, the rain will run only twelve trips with the locomotive system. After one month LAMATA will commence electric-powered train operation with 76 trips, also with estimated passengers between 150,000 and 175,000, from 5.30 am to 11 pm daily. And the train will only stop for 90 seconds at each station.

According to her, the transport palliative announced by Governor Sanwo-Olu will also reflect on train transportation. She said it would cost N750 per trip.

The LAMATA MD appeals to residents of Lagos not to cross the rail tracks because it is energized. Anyone found carrying out illegal activities across the five train stations will be prosecuted.

The first phase of the Blue Rail Line (from Marina to Mile 2) was scheduled to begin operation by the end of the first quarter of 2023, but it experienced delays. The delays have left many who see the project as a reprieve from their hectic daily commuting to the island disappointed.

“We couldn’t begin operations as intended by the end of the first quarter due to unexpected issues. Although we promised an August launch, we faced challenges in meeting that timeline,” Akinajo explained.

Leadership Is Failing Africa, Not Democracy!

By
Ndubuisi Ekekwe
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2

As Gabon goes into paralysis, many are writing that Africa should do away with “democracy” because it has not delivered sustained dividends to the people. Yes, poverty, hopelessness and despair continue to be the byproducts of Africa’s democracy.

But the question is this: what is the alternative? Certainly, not the military because we have seen their results also. Yes, they’re “no good”, and there is no way we can forget in a hurry how decades of military rule destroyed Africa. When politicians steal, you know. But when the khaki men steal, you see no records because they keep none.

My postulation is simple: we need to focus on Leadership and not just on “Democracy” with the colouration of the Western mindset. As a certified village boy who did not leave the village until they forced me to leave the village for college, I can tell you that most African communities have indigenous democratic systems.

In most Igbo communities, the oldest man in the clan runs the community and he seeks counsel from other elders. Even though he may seem to be the boss, he does not wield any unusual power; he folds into the antennas of the citizens. In Ovim, the Ojengwa women are like police officers. They have the power to excommunicate stubborn people and ban them. But before that is done, everyone must agree that the person is really bad. Consensus and democratic ideals!

Democracy is not for the Western world. What you can say they have more than us is better leadership. But Africa cannot have better leadership when we vote based on tribe, religion, etc. The fact is this: poverty does not respect tribe, religion, etc.

Good People, Africa’s problem is not Western Democracy. And the solution is not military rule. What we have to do is become real, and that means leaving behind tribalism, religiosity, etc as we choose leaders. The solution is good governance and that cannot come without a filtering process.

If we can improve the electoral process, democracy will give us what we need. I have advocated that the African Union should take over conducting elections as it makes no sense to allow sitting presidents to supervise elections their parties or themselves are participating in. 

Interestingly, I made that point in the City of Democracy, Libreville, Gabon, as the now deposed president of Gabon smiled. I called it the African Democratic Commission with a clear mandate to conduct free and fair elections under the tenets of the AU within member states!

Comment on Feed

Comment 1: I completely agree with you, Prof. Ndubuisi Ekekwe!

Whenever I condemn military coups, some folks erroneously believe that it means I agree with our current democratic anomaly in Africa; no, I don’t agree with our current system a bit.

As you’ve noted, a redesign of our system (African Union serving as electoral umpire) and building leadership in all spheres of our institutions (beyond looking for a presidential savior) is what we need.

I witnessed some of the years during Nigeria military juntas; those guys are very abusive and power drunk. I remember several times how a private officer would beat up older men in their SUVs on the roads (at the slightest provocations), the scale of corruption (no one dared report, etc. Since then, I have loathed the military regime and detested them in power; they are made for Command and control.

Africa needs to build its own systems, have its own debates (we need to learn how to disagree to agree), and its own identity. We do not need a ‘Boss’ at the helm of affairs; we need ‘leaders’ throughout our organizations.

Comment 2: Political leaders in Africa are pushing the people to the wall. What is playing out should serve as a reminder to them that there are alternatives to democracy, and it’s a different conversation whether those alternatives are acceptable or not. In any case, the people should have a say in what the acceptable mode of political governance is. AU, ECOWAS and the rest should design a mechanism to develop metrics for leadership and governance, and encourage subtle peer review.

You cannot be beating a child and tell him or her not to cry. The people will support any alternative at this point because democracy in Africa seems to be a safe haven for leadership without purpose

China’s Blockchain System in Shanghai

By
Paul Ugbede Godwin
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0

Blockchain technology is one of the most promising and disruptive innovations in the digital era. It has the potential to transform various industries and sectors, such as finance, trade, logistics, healthcare, and governance. Blockchain technology enables secure, transparent, and decentralized transactions and data sharing among multiple parties, without the need for intermediaries or central authorities.

China is one of the global leaders in blockchain development and adoption. According to a report by PwC, China ranked second in the world in terms of blockchain projects, patents, and investments in 2020. China has also launched its national blockchain service network (BSN), which aims to provide a unified and low-cost platform for blockchain applications across different sectors and regions.

To address these challenges and promote the development and adoption of blockchain technology in China, the Shanghai Municipal Government has launched a blockchain infrastructure system that aims to provide a unified platform for blockchain applications and services. The system, which is called the Shanghai Blockchain Engineering Technology Research Center (SBERC), was officially inaugurated on August 18, 2023.

The SBERC is a joint initiative of the Shanghai Municipal Government, the Shanghai Jiao Tong University, the Shanghai Academy of Social Sciences and several leading enterprises in the blockchain industry. The SBERC will serve as a hub for blockchain research, innovation, education and collaboration. It will also provide technical support, policy guidance and standardization for blockchain projects in Shanghai and beyond.

The SBERC will focus on four major areas:

Blockchain infrastructure: The SBERC will build a high-performance, low-cost and secure blockchain infrastructure system that can support various types of blockchain applications and services. The system will consist of a public chain, a consortium chain and a private chain, as well as a cross-chain communication protocol and a smart contract engine. The system will also integrate with existing information systems and platforms, such as cloud computing, big data and artificial intelligence.

Blockchain applications: The SBERC will develop and promote blockchain applications in various domains, such as finance, logistics, healthcare, education, government affairs and social welfare. The SBERC will also facilitate the integration of blockchain technology with other emerging technologies, such as 5G, IoT and biometrics.

Blockchain standards: The SBERC will establish and implement blockchain standards and norms that are compatible with international standards and regulations. The SBERC will also participate in the formulation and revision of national and regional blockchain policies and laws.

Blockchain talent: The SBERC will cultivate and attract blockchain talent through education, training and exchange programs. The SBERC will also establish a blockchain innovation incubator that will provide mentoring, funding and resources for blockchain startups and entrepreneurs.

The SBERC is expected to play a key role in advancing the development and adoption of blockchain technology in China and beyond. It will also contribute to the construction of the Shanghai International Financial Center, the Shanghai Science and Technology Innovation Center and the Shanghai Free Trade Zone. The SBERC is a milestone in the history of blockchain technology in China and a testament to the vision and leadership of the Shanghai Municipal Government.

One of the key areas where China is focusing its blockchain efforts is Shanghai, the country’s financial and commercial hub. Shanghai has been designated as a pilot zone for blockchain innovation and application by the central government. The city has launched several initiatives and policies to support blockchain development, such as establishing a blockchain industry alliance, setting up a blockchain innovation center, and issuing blockchain-related standards and regulations.

Shanghai’s ambition is to build a world-class blockchain infrastructure system by 2025, according to a recent plan released by the Shanghai Municipal Commission of Economy and Informatization. The plan outlines the vision, goals, and strategies for developing Shanghai’s blockchain ecosystem in the next five years.

The plan envisions that by 2025, Shanghai will have:

A comprehensive and high-quality blockchain infrastructure system that covers the whole city and connects with the national BSN and other major blockchain platforms.

A mature and vibrant blockchain industry that nurtures leading enterprises, attracts global talent, and fosters innovation and collaboration.

A rich and diverse blockchain application scenario that covers various fields, such as finance, trade, logistics, healthcare, government affairs, social governance, culture, and education.

A sound and effective blockchain governance mechanism that ensures the security, legality, and compliance of blockchain activities.

To achieve these goals, the plan proposes several strategies and measures, such as:

Strengthening the construction and integration of blockchain infrastructure, such as cloud computing, big data, artificial intelligence, internet of things, 5G, etc.

Promoting the research and development of core blockchain technologies, such as consensus mechanisms, encryption algorithms, smart contracts, cross-chain interoperability, etc.

Supporting the cultivation and growth of blockchain enterprises, especially small and medium-sized ones, by providing financial incentives, tax benefits, subsidies, etc.

Encouraging the exploration and innovation of blockchain applications in various sectors and scenarios, such as digital currency, supply chain finance, digital identity, traceability certification, etc.

Enhancing the regulation and supervision of blockchain activities, such as establishing a blockchain registration system, setting up a blockchain security monitoring center, issuing blockchain-related laws and standards, etc.

Improving the education and training of blockchain professionals and talents, such as launching blockchain courses in universities and vocational schools, organizing blockchain competitions and hackathons, etc.

Building a favorable environment for blockchain development, such as strengthening international cooperation and exchange on blockchain issues, creating a positive public opinion atmosphere for blockchain awareness and acceptance. Shanghai’s plan to develop a blockchain infrastructure system by 2025 reflects its determination and confidence to seize the opportunities and challenges brought by blockchain technology by leveraging its advantages in finance.

How To Get Sexual Blackmailers Off Your Back

By
Stanley Alieke
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0

I have written a series of articles (all is available and accessible here on Tekedia) on how sexual blackmail and sextortion is a crime not just in Nigeria but in other jurisdictions around the world, it is punishable with at least 5 years jail term. For the umpteenth time, I will be writing on sexual blackmail and sextortion again because I recently learnt that it is the most lucrative internet fraud in Nigeria at the moment.

For the past two weeks, I have had three briefs from victims of sexual blackmail. According to them, how they became a victim of having their private pictures and videos in the hands of the blackmailers is that some folks pose as beautiful and horny ladies on social media, they spam strangers and anybody that accepts or responds to the spam message becomes a potential victim.

The beautiful lady who is obviously a fake persona will either request they exchange nudes or that they should engage in online sex. Once you agree to that and send your private pictures or videos over to them they will start using them to blackmail you; threatening to release them online if you do not meet their demands which are usually money requests. 

The other incident is an angry ex-lover who wants to get back at his ex-girlfriend for dumping him. They regularly exchanged nudes while they were dating, When the relationship went sour the ex-boyfriend decided to leverage on the sex tapes and nudes of the lady to blackmail and extort money from her. 

The other incident is that these criminals hack into people’s devices and if they see any compromising private pictures or videos, they will download them and start using them to blackmail and extort money from you. 

If you ever find yourself in any of these situations or something similar to it, one thing you should know about blackmailers is that once you have paid them or succumbed to their demands once they will never let you go again, you will automatically become their cash cow. They will keep demanding payouts from you until you give up or decide to call their bluff. 

Therefore, the recommended best way to get not just sexual blackmailers but every other kind of blackmailer off your back is to call their bluff and ignore them, while you are doing that also report to law enforcement agencies: it is a crime so it falls under the purview of the Nigeria police force, in fact, I just filed a petition at the Interpol division of the Nigerian police force this morning on behalf of a client who is currently a victim of sexual blackmail. 

Most importantly, you as an internet user or a lover should exercise some level of discretion, Not every private picture or video you should send across and if you must share those private files with your online lovers, make sure that your face cropped your face off, blurred your face or just ensure that your face  is not showing on them. 

Blackmailers are criminals who threaten to reveal embarrassing or damaging information about someone in order to extort money or something else of value. Blackmail is a crime under federal and state law. It is a felony that can carry over a year in prison and high fines. Blackmailers often have information that is damaging to the victim. They may threaten to reveal this information to family members or associates, rather than to the general public. Blackmailers may also threaten to tell a harmful secret about someone in order to try to force them to do something.

Blackmail is a crime based on information, while extortion is a crime based on force. Blackmailers may want the victim to believe they are in the clear, but they will start harassing the victim again as soon as they are comfortable. This can make the victim break down and think there is no way out other than giving the suspect what they want.

 

South Korea Requires Crypto Exchanges Operating in the Country to Hold $2.3M Reserves

By
Paul Ugbede Godwin
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0

A new regulation will take effect in South Korea next month that will require cryptocurrency exchanges to hold at least 3 billion won ($2.3 million) in bank accounts as a measure to protect consumers from possible losses or fraud. This is part of the government’s efforts to tighten oversight and transparency of the crypto industry, which has been growing rapidly in the country.

The Financial Services Commission (FSC), the main regulator of the financial sector, announced the rule on August 24, saying that it aims to prevent exchanges from using customer funds for their own operations or investments. The FSC also said that the rule will help ensure that exchanges have enough liquidity to refund customers in case of bankruptcy or hacking incidents.

According to the FSC, there are currently 63 crypto exchanges operating in South Korea, but only four of them have obtained a license to offer real-name accounts that are linked to customers’ bank accounts. The rest of the exchanges use anonymous or virtual accounts that are more vulnerable to money laundering and fraud.

A major regulatory change is looming for the cryptocurrency industry in South Korea. The Financial Services Commission (FSC), the country’s top financial watchdog, has set a deadline of September 24 for all crypto exchanges operating in the country to register with the authorities and comply with the new rules. This deadline is part of the revised Act on Reporting and Use of Certain Financial Transaction Information, which was passed in March 2020 and came into effect in March 2021. The act aims to prevent money laundering, tax evasion, and other illicit activities involving cryptocurrencies, and to protect investors from fraud and scams.

According to the act, crypto exchanges must obtain an Information Security Management System (ISMS) certification from the Korea Internet and Security Agency (KISA), and partner with a bank that can provide real-name accounts for their customers. The ISMS certification is a standard that evaluates the security level of an organization’s information systems and management practices. The real-name account system is a measure that requires crypto users to verify their identity with a bank before they can deposit or withdraw funds from an exchange.

These requirements are intended to enhance the transparency and accountability of the crypto industry, and to align it with the global standards set by the Financial Action Task Force (FATF), an intergovernmental body that combats money laundering and terrorist financing.

However, meeting these requirements has proven to be a challenge for many crypto exchanges in South Korea, especially for smaller and mid-sized ones. As of August 27, only four exchanges have obtained both the ISMS certification and the bank partnership: Upbit, Bithumb, Coinone, and Korbit. These are the four largest exchanges in the country, accounting for more than 90% of the market share. The rest of the exchanges, which number around 60, are either still waiting for the ISMS certification, or have failed to secure a bank partnership. Some banks have been reluctant to work with crypto exchanges due to the high risks and costs involved, as well as the uncertainty over the future of the industry.

The FSC has made it clear that there will be no extension or grace period for the deadline, and that any exchange that fails to register by September 24 will face legal consequences. This means that unregistered exchanges will have to cease their operations or face criminal charges and hefty fines. Moreover, their customers will not be able to withdraw their funds or access their accounts after the deadline. The FSC has urged crypto users to check whether their exchange is registered or not, and to move their assets to a registered exchange or a personal wallet before September 24.

The deadline is expected to have a significant impact on the crypto industry and market in South Korea, which is one of the most active and vibrant in the world. According to a report by Chainalysis, a blockchain analysis firm, South Korea ranked third in the world in terms of crypto adoption in 2020, behind only Vietnam and India.

The report also estimated that South Koreans traded about $7 billion worth of cryptocurrencies in 2020, up from $600 million in 2019. The country has also been a leader in innovation and development in the crypto space, with various projects and initiatives involving blockchain technology, decentralized applications, non-fungible tokens (NFTs), and more.

The deadline may result in a consolidation of the industry, as only a few exchanges will survive and dominate the market. It may also lead to a loss of diversity and competition in the industry, as well as a reduction of choices and convenience for consumers. On the other hand, it may also improve the credibility and stability of the industry, as well as its compliance with international norms and regulations. It may also foster a more mature and responsible attitude among crypto users and investors, who will have to pay more attention to their security and risk management.

The deadline is a critical moment for the crypto industry in South Korea, as it will determine its fate and direction for the foreseeable future. It will also test the resilience and adaptability of the industry, as well as its potential for growth and innovation. The deadline is not only a challenge, but also an opportunity for the industry to prove itself as a legitimate and valuable part of the financial system.

The new regulation is expected to have a significant impact on the crypto market in South Korea, which is one of the largest and most active in the world. According to data from CoinMarketCap, South Korea accounted for about 4% of the global crypto trading volume as of August 28, ranking fourth after the US, China and Japan. Some industry experts and analysts have welcomed the move as a positive step to enhance consumer protection and trust in the crypto sector, while others have expressed concerns that it may stifle innovation and competition among smaller players.

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