DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 4147

Nigeria’s Presidential Election Tribunal will on Wednesday deliver its ruling

By
Ndubuisi Ekekwe
-
1

Nigeria’s Presidential Election Tribunal will on Wednesday deliver its ruling to petitions challenging the result of the last presidential election. The ruling will be televised, according to the court registrar. Of course, this is like a pre-season warmup game. The real game is at the Supreme Court.

I have read the Labour Party and PDP’s petitions; I have also read APC’s defense. Head or Tail, Nigeria loses because INEC has lost everyone.  How? “Voter turnout was also low, even by Nigerian standards. With total votes cast at just under 25 million, out of 87 million people with voter identity cards and eligible to vote, turnout was only 29%. The previous 2019 election saw a 35% turnout.” Yes, that is not a working democracy!

I do not want to compound your stress level, but note one thing: everyone should chill and remain calm irrespective of how this goes. Do not destroy your neighbour’s property or burn down your university halls. Stay engaged but be calm.  All eyes on you – the Nigerian, as you handle whatever they have there.

NLC is going on strike and banks are joining. By tomorrow, every part of Nigeria will be frozen, against Wednesday. That is a conditioning and everyone should be real here.

 

DSS DISCOVERS PLOT TO STAGE VIOLENT PROTESTS IN THE COUNTRY

The Department of State Services (DSS) hereby informs the public that it has uncovered plans by some elements in parts of the country to stage violent protests to discredit the Federal Government and security agencies over sundry socio-economic matters. Intelligence reports have indicated that the plotters include certain politicians who are desperately mobilising unsuspecting student leaders, ethnic based associations, youth and disgruntled groups for the planned action. Meanwhile, the Service has identified the ring leaders of the plot as well as sustained monitoring around them in order to deter them from plunging the country into anarchy.

While the DSS is aware of Government’s efforts and determination to resolve some of the challenges confronting the nation, it warns those desirous of subverting national security to retrace their steps. This is more so that it will not hesitate to legally come against persons and groups behind the devious plans.

Peter Afunanya, Ph.D, fsi

Public Relations Officer

Department of State Services

National Headquarters

Abuja.

4th September, 2023.

Banks, Insurance & Other Financial Institutions to Join NLC’s Nationwide Strike

By
Samuel Nwite
-
0

On Monday, the National Union of Banks, Insurance, and Financial Institutions Employees (NUBIFIE) released a statement announcing the closure of all banks on Tuesday, September 5th, and Wednesday, September 6th, 2023.

The statement, which was signed by the General Secretary of the Union, Mohammed I. Sheikh, indicated that this decision aligns with the resolution of the Nigeria Labour Congress (NLC) to initiate a two-day strike, following discussions held during the National Executive Council meeting (NEC) on Thursday, August 31, 2023.

“In line with the communiqué issued after the meeting of the National Executive Council (NEC) of the Nigeria Labour Congress (NLC) held on Thursday 31 August 2023 that all affiliates should direct all its members to commence two days withdrawal of services from Tuesday & Wednesday the 5 & 6 September 2023

“The directive is imperative to get the needed attention of the government and warn it of its newfound love of meddling in the internal affairs of unions rather than address the punishing economic circumstances we find ourselves in.

“We hereby direct all our organs to comply with this directive by ensuring all our members stay off duties for the two days,” it said.

On Friday, the NLC announced a two-day nationwide warning strike, starting on Tuesday, September 5, 2023. This decision came as a response to the escalating economic difficulties in the nation, which were further intensified by the government’s choice to remove the petrol subsidy.

The union declared strike with its main goal being to call for an urgent revision of economic policies aimed at enhancing the overall quality of life for the general populace.

The organized labor, made up of the Trade Union Congress (TUC) and the NLC, had last month embarked on a nationwide strike which was eventually called off after just one day following a meeting with the federal government.

However, more affiliates of the NLC are expressing readiness to join the strike this time, a move that has been attributed to the announcement of the Presidential Election Petition Tribunal (PEPT) that its judgment on the outcome of the February presidential election will be delivered on Wednesday.

The NLC has been mobilizing affiliate unions for the strike, which it has vowed to embark on despite attempts by the government to quell it. The NLC president Joe Ajaero said on Friday that the government is unserious about honoring their agreements and has broken its promises.

“Part of our policies, part of our structure permits us to negotiate even if at the last minute, and we have attempted that twice, and we can now say, convincingly, that the people we are dealing with are not serious.

“Three months after the removal of fuel subsidies, and the government has broken promises three times, I think nobody can blame us,” he said.

Nigerian Banks Announce Plan to Embark on a Two-Day Nationwide Strike, Financial Services to be Withdrawn

By
Ojukwu Emmanuel
-
0

Banks in Nigeria have announced plans to join the Nigerian Labour Congress (NLC) to embark on a two-day nationwide strike, which will commence on Tuesday, Sept 5th, 2023.

The directive for this action was issued by the National Union of Banks, Insurance, and Financial Institution Employees (NUBIFIE) in a memo dated September 2, 2023, signed by the union’s General Secretary, Mohammed I. Sheikh.

In a statement by NUBIFIE, they accused the federal government of Nigeria, of undue interference in trade unions’ affairs, diverting attention away from addressing the nation’s pressing economic challenges.

Part of the statement reads,

“In line with the communique issued after the meeting of National Executive Council (NEC) of the Nigeria Labour Congress (NLC) held on Thursday 31st August 2023, all affiliates should direct all its members to commence two days’ withdrawal of services from Tuesday & Wednesday the 5th & 6th September 2023.

“The directive is imperative to get the needed attention of the government and warn it of its newfound love of meddling in the internal affairs of unions rather than address the punishing economic circumstances in which we find ourselves. We hereby direct all our organs to comply with this directive by ensuring all our members stay off duty for the two days. Your cooperation in this regard will be appreciated”.

Reports reveal that during the nationwide strike, financial services will be Withdrawn, while digital channels will remain accessible during the 48-hour industrial action.

Nigerians are therefore advised to withdraw enough cash, to avoid being totally stranded during the duration of the strike action.

Aside from financial institutions, telco staff, and electricity workers have also announced their compliance with the NLC strike notice.

However, in a bid to prevent the proposed strike action by the NLC, the federal government fixed a peace meeting with the leadership of the two labor unions, NLC and TUC, in Abuja on Monday.

The Minister of Labour and Employment, Hon. Simon Bako Lalong, said the government has already taken steps to cushion the impact of the removal of fuel subsidies which are being implemented by the three tiers of government.

Lalong noted that ministers had just been sworn in by the new administration, adding that most of them were still receiving briefings from their various departments.

On the progress so far made by the government to address the demands of labor, he said the president has approved several measures to help cushion the effect of the fuel subsidy removal.

According to him, palliative measures are already being handled and implemented, beginning with the state and local governments.

Mutant 30002 Sold for 500 Ether Despite Decline in Floor Prices on Yugalabs Products

By
Paul Ugbede Godwin
-
0

One of the most remarkable NFT sales of the week was the Mutant Ape, MAYC NFT #30002, which sold for a whopping 500 ETH on Friday, despite the overall bearish trend in the crypto market. This rare and coveted digital collectible is part of the Mutant Ape Yacht Club, a spin-off of the popular Bored Ape Yacht Club, which features 10,000 unique apes with different traits and accessories. The Mutant Ape that fetched such a high price has a distinctive look, with a golden crown, a blue fur coat, and a scarred face. It also has a low serial number, which adds to its value and appeal.

The buyer of this NFT was none other than Pranksy, a well-known collector and investor in the NFT space, who has amassed a fortune from flipping digital art and assets. Pranksy is also the owner of several other Mutant Apes, as well as Bored Apes, CryptoPunks, Art Blocks, and more. He announced his purchase on Twitter, saying that he had been eyeing this particular Mutant Ape for a long time and that he was happy to finally own it.

The sale of this NFT was remarkable not only for its high price, but also for its timing. It happened on a day when the crypto market was experiencing a sharp decline, with Bitcoin dropping below $27,000 and Ethereum below $1,700. Many NFT projects also saw their prices and volumes plummet, as investors and collectors became more cautious and risk averse. However, some NFTs managed to defy the downtrend and maintain their value or even appreciate. The Mutant Ape sale was one of them.

The Mutant Ape Yacht Club is one of the most successful and sought-after NFT projects in the industry. It was launched in August 2021 as an extension of the Bored Ape Yacht Club, which itself is one of the most iconic and influential NFT projects ever. The Mutant Ape Yacht Club consists of 20,000 Mutant Apes, which were either minted by burning a Bored Ape or by using a Mutant Serum that was randomly distributed to Bored Ape holders. The Mutant Apes have different attributes and rarities than the Bored Apes, and they also grant access to exclusive benefits and events for their owners.

According to data from CryptoSlam, the Mutant Ape Yacht Club has generated over $600 million in sales since its launch, with an average price of 9.4 ETH per NFT. The project ranks second in terms of all-time sales volume among NFT projects, behind only CryptoPunks. The floor price of a Mutant Ape, which is the lowest price at which one can be bought on the secondary market, is currently 5.2 ETH ($8,500), according to data from OpenSea. This means that Pranksy’s purchase of MAYC NFT #30002 was almost 100 times higher than the floor price.

The Mutant Ape sale demonstrates the resilience and strength of the NFT market, especially for high-quality and rare projects that have a loyal and passionate community behind them. Even in times of market volatility and uncertainty, some NFTs can still command premium prices and attract buyers who are willing to pay top dollar for them. The Mutant Ape Yacht Club is one of those projects that has proven its value and staying power in the NFT space.

YugaLabs is a leading company in the field of NFT Gaming, artificial intelligence and machine learning. The company has been developing innovative solutions for various industries, such as healthcare, education, finance, and entertainment. However, in recent months, the company has faced a significant decline in price of its products, which has raised concerns among investors, customers, and employees. What are the reasons behind this decline and what can the company do to overcome it?

One of the main reasons for the decline of YugaLabs’ assets is the increased competition in the NFT and AI market. The company has been facing fierce competition from other players, both established and emerging, who have been offering similar or better products and services at lower prices.

For example, AlphaTech, a new startup, has recently launched a cloud-based AI platform that claims to provide faster, cheaper, and more accurate solutions than YugaLabs. This has attracted many customers who were previously loyal to YugaLabs, resulting in a loss of revenue and market share.

Another reason for the decline of YugaLabs’ assets is the lack of innovation and differentiation. The company has been relying on its existing products and services, without introducing any new features or improvements that could set it apart from its competitors. The company has also failed to adapt to the changing needs and preferences of its customers, who are looking for more personalized, customized, and user-friendly solutions. For instance, YugaLabs’ flagship product, YugaAI, a general-purpose AI platform that can be applied to various domains, has been criticized for being too complex, rigid, and generic.

A third reason for the decline of YugaLabs’ assets is the poor management and leadership. The company has been suffering from internal conflicts and disagreements among its executives and employees, which have affected its decision-making process and organizational culture. The company has also been accused of unethical practices, such as data breaches, privacy violations, and intellectual property thefts, which have damaged its reputation and credibility.

Moreover, the company has been facing legal issues and lawsuits from its competitors, customers, and regulators, which have cost it a lot of time and money. To overcome these challenges and reverse the decline of its assets, YugaLabs needs to take some urgent and effective actions. Some of the possible actions are:

Investing more in research and development to create new and innovative products and services that can meet the current and future demands of its customers and differentiate it from its competitors.

Improving its customer service and satisfaction by offering more flexible, tailored, and user-friendly solutions that can solve their specific problems and add value to their businesses.

Strengthening its management and leadership by resolving the internal conflicts and disagreements, fostering a culture of collaboration and trust, and adhering to ethical standards and best practices.

Enhancing its marketing and branding by communicating its vision, mission, values, and achievements to its target audience and stakeholders, highlighting its competitive advantages and unique selling points.

Seeking new opportunities and partnerships by expanding into new markets and segments, exploring new applications and domains for its products and services, and collaborating with other players in the AI ecosystem.

By implementing these actions, YugaLabs can regain its position as a leader in the NFT and AI industry and increase its assets. The company has a lot of potential and talent to achieve this goal if it can leverage its strengths and address its weaknesses.

Okra Solar Announces The Raise of $12 Million to Drive The Expansion of Mesh-Grid Electrification in Africa

By
Ojukwu Emmanuel
-
0

Okra Solar, an Internet of Things (IoT) technology solution that enables solar generating communities to share, store and utilize energy, has announced the raise of $12 million in series A debt and equity funding, to drive the expansion of mesh-grid electrification in Africa.

The funding round saw participation from One Ventures, along with FMO, Susquehanna Provate Equity Investments LLLP, Autodesk foundation and King Philanthropies.

Speaking on its investment in Okra Solar, partner at One Ventures, Helen Lin said,

“With the compounding effects of population growth and growing industrialisation, energy consumption on the African continent will increase disproportionately in the coming decades. The IEA forecasts that total power generation capacity in Africa is expected to double to 510 GW by 2030.

“There is no reason for this new power generation capacity to come from dirty fossil fuel power. We can skip that phase entirely and build it correctly from the start clean, renewable, and suited to the needs of this market.”

Okra Solar creates hardware and software solutions designed to bring solar-based power to developing markets. At present, it is currently focused on Nigeria, Philippines, Haiti and Cambodia, with a renewal bent designed to reduce emissions as it brings more populations online.

Specifically, the company has developed a Mesh-Grid, which shares power through an interconnected network of homes.

The startup has a track record of pushing boundaries on the tech side. Recent product updates include automated network planning software, using geospatial data and monitoring of commercial performance down to the asset level.

Launched in 2016, Okra developed an artificial intelligence-enabled mesh grid that shares power through an interconnected network of homes. The plug-and-play solar home system includes a solar panel, battery, and a smart device. A cloud-based system monitors usage and required, maintenance while allowing for remote control.

Notably, the company has also been actively working with local governments to help accelerate the adoption of its technologies.

In Nigeria, the technology has been approved for subsidies from a $550 million fund put together by the World Bank, African Development Bank and the Rural Electrification Agency.

According to the company, this is helping Nigerian developers roll out its tech rapidly with government subsidies, simply because solar powered Okra Mesh-Grids are the only solution that provides sustainable productive power in last-mile communities.

Mesh grids enable solar power to be generated at the source of individual homes, where excess power is then redistributed by Okra’s smart algorithms from one connection to the next to optimize utilization.

Through its B2B model, Okra supplies technology to last-mile energy utilities, who then energise last-mile households. The cleantech has deployed the grids across four countries, including Nigeria. Okra’s mission is to create technology that enables affordable and reliable access for everyone in the world.

1...4,1464,1474,148...8,462Page 4,147 of 8,462

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy