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Court Orders INEC to Transmit the Results of March 18 Governorship Poll Electronically

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The Independent National Electoral Commission (INEC) has been ordered by an Abuja High Court on Friday, to transmit the result of Saturday’s governorship and house of assembly’s election electronically, in line with electoral laws.

The order came from a suit instituted by the Labour Party and its governorship candidate in Akwa Ibom, Uduakobong Udoh, including 13 state’s House of Assembly candidates for the March 18 elections, NAN reports.

The suit marked: FHC/ABJ/CS/334/2023 was filed on March 15 by Moses Usoh-Abia against INEC on behalf of the LP and its candidates, praying the court to compel the electoral umpire to follow the regulations and guidelines of the 2022 Electoral Act.

In the suit, which contains seven prayers, asked the court for an order of mandamus compelling INEC and all its agents to comply with and enforce the provision of Clause 37 of the Regulations and Guidelines for the Conduct of the Saturday’s governorship and house of assembly elections in Akwa Ibom.

The applicants also prayed the court to mandate the presiding officers of all polling units to conspicuously paste the publication of result posters EC460(E) at the polling units after completing the EC8A result sheets.

They sought an order of mandamus compelling the commission to mandate the presiding officers of all polling units in the state to electronically transmit or transfer the result of the polling units, direct to the collation system and use the Bimodal Voter Accreditation System, BVAS, to upload a scanned copy of the EC8A to INEC Result Viewing Portal (IReV) immediately after the completion of all the polling units voting and results procedures.

They said this was in compliance with the provision of Clause 38 of the guidelines for the conduct of the polls.

The applicants equally prayed for an order directing INEC to enforce the observance and compliance of Section 27(1) of the Electoral Act, 2022 in the distribution of electoral materials during the conduct of the polls by engaging the services of independent, competent, and reliable logistic companies who are non-partisans or known supporters of any political party for the distribution of electoral materials and personnel, among other reliefs.

Delivering his judgment, Justice Obiora Egwuatu ordered the use of the Bimodal Voter Accreditation  System  (BVAS) to upload a scanned copy of the EC8A to INEC Result Viewing Portal (IReV) immediately after the completion of all the polling units voting and results’ procedures in Akwa Ibom.

He further held that the commission should conspicuously paste the publication of its result posters EC60(E) at polling units after completing the EC8A result sheets in the state.

Egwuatu ordered INEC to enforce the observance and compliance of Section 27(1) of the Electoral Act, 2022 in the distribution of electoral materials during the conduct of the polls in the state by engaging the services of independent, competent, and reliable logistic companies who are non-partisans or known supporters of any political for the distribution of electoral materials and personnel.

He further held that since the electoral umpire averred in its filed affidavit that it was aware of its responsibilities under the law and had not failed to carry them out, granting the prayers sought by the applicants would not do any harm to the commission but instead, energize its performance.

The ruling has revived the hope of electorates across the countries, who have been worried that the Saturday election may end up like the presidential election.

Usoh-Abia had told the court that INEC’s refusal to comply with the law during the February 25 presidential election resulted in serious prejudice; and had foisted uncertainty and frustration on his clients at their various polling units and wards.

However, there is still concern that the governorship election, especially in states like Lagos, Rivers and AKwa Ibom, will become another test of credibility that INEC is likely going to fail. Pro democracy activists say it is most concerning that political parties have to get court order to compel the electoral umpire to follow electoral laws in conducting election.

Allaying this concern, INEC assured Nigerians that the 28 governorship and 993 House of Assembly polls will be conducted in line with electoral rules and regulations.

INEC Chairman, Information and Voter Education Committee, Festus Okoye, disclosed this during an interview on Arise TV on Friday. He said among other things, the original result will be scanned and uploaded to INEC Result Viewing Portal for public viewing.

“The commission is determined to improve on its previous performance. What we have done is to learn valuable lessons from previous elections that we conducted, and we’re going to put those lessons into our planning purposes and processes, and into our deployment purposes,” Okoye said.

Silicon Valley Bank Former Unit SVB Financial Files For Chapter 11 Bankruptcy

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SVB Financial, the former unit of Silicon Valley Bank has filed for chapter 11 bankruptcy protection to seek buyers for its assets.

In a statement made on Friday, SVB Financial disclosed that it no longer has affiliations with Silicon Valley Bank or its private banking and wealth management unit, SVB private, following the recent takeover of the tech-focused bank by the Federal Deposit Insurance Corporation (FDIC). The company further disclosed that Silicon Valley Bank and its partner entities are not included in the recent filing.

SVB capital has about $9.5 billion in assets under management, with investments both in a number of major VCs and funds, as well as startups directly. SVB securities have been around in one form or another since 1999. Based out of Boston, it has brokered and provided services to startups across nearly 700 deals.

SVB Financial chief restructuring officer William Kosturos disclosed that the chapter 11 bankruptcy filing process will allow the company to preserve value as it evaluates strategic alternatives for its prized businesses, as well as its other assets and investments. Kosturos stressed that SVB Capital and SVB Securities will continue to operate and serve clients led by their independent teams.

One notable thing to note about SVB’s recent chapter 11 bankruptcy filing, is that it will enable the company to resume operations outside of the FDIC’s control while it works through the next steps. To that end, the company disclosed that it plans to file customary first day motions with the bankruptcy court that among other things, it will seek authorization to continue operations of SVB financial group in the course of business as soon as a hearing is scheduled.

One week after Silicon Valley Bank’s collapse, its former parent company is seeking Chapter 11 bankruptcy protection. SVB Financial Group says it has roughly $2.2 billion of liquidity and also has other assets that are being considered for sale. The court-led bankruptcy is separate from the Federal Deposit Insurance Corporation’s efforts to make Silicon Valley Bank’s depositors whole, The New York Times notes. SVB Financial’s assets include SVB Capital, its investment arm, and SVB Securities, a brokerage firm. Both units continue to operate and are not part of the filing.

The failures of Silicon Valley Bank and Signature Bank cast a shadow on credit-rating agencies including S&P and Moody’s, The Wall Street Journal reports. Both institutions had solid ratings when they collapsed. (LinkedIn News)

It would be recalled that three days ago, SVB Financial Group and two top executives were sued by shareholders over the collapse of Silicon Valley Bank, as global stocks continued to suffer, despite assurances from President Joe Biden.

The bank’s shareholders accused SVB Financial Group chief executive, Greg Becker, and chief financial officer, Daniel Beck, of concealing how rising interest rates would leave its Silicon Valley Bank unit “particularly susceptible” to a bank run.

SVB had surprised the market two days earlier by disclosing a $1.8bn after-tax loss from investment sales and that it planned to raise capital, as it scrambled to meet demands from customers who wanted to access their deposits. The bank collapse has sparked fears that other banks could be vulnerable to rising interest rates through an over-exposure to falling bond prices.

SVB disclosed on Monday that it will explore strategic alternatives for what remains of the company. The FDIC has already named Tim Mayopoulos, the former chief of Fannie Mae, as the chief executive officer of Silicon Valley Bank.

Ndubuisi Ekekwe Makes 4 Notable Alumni of FUT Owerri

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One of the finest moments I had as a teenager was  going to meet the principal of Girls Model Secondary School Ovim. As I passed the main gate of the school, students started shouting “Ndubuisi Ekekwe. Ndubuisi Ekekwe. Ndubuisi Ekekwe….” from the windows. My legs froze and I looked round as they waved hands, shouted, jubilated, etc.

A few days before, I had set an all-time academic record in my alma mater (Secondary Technical School Ovim)  in WAEC. It was an unforgettable experience as  kinsmen, kins-women, etc came from cities and brought gifts. I had never left the village and the city people came to see me. Our great Admiral Ndubuisi Kanu (RIP) came to our family house as I was frying garri and said “I am proud of you Ogboo (namesake)”.

Gentlemen and Ladies, the greatest recognition is when it comes from home. I want to thank my alma mater, Federal University of Technology Owerri, and our alumni association (my juniors and my seniors), for including me as one of its 4 noted alumni in the school’s history. Sure, there are better alumni than this village boy. But you know what: allow me to celebrate God’s Favours that men and women can uplift even in your absence. Thank you FUTO for always giving: I came as a village boy and left prepared for the world. The best technical university in Africa, we’ll serve.

Good People, I will take your #congratulations

For the tech bros: ensure you protect your intellectual property

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Emerging technologies like AI would have transformation impacts on Law (source: law.com)

It is a known thing in the tech industry that website builders and app developers most times copy each other and copy an existing or renowned website or code while making theirs. You will see two websites with almost the same features and you can tell that one version was clearly copied from the other which may be the original.

I have seen many foreign based crypto websites and even news blogs with the Nigerian imitated versions; the same interphase and the same outlook. 

Acts like these, although prevalent in the tech industry are completely illegal and it is even criminal in some parts of the world. 

If you copy elements or even an element from another website while building yours, you are infringing on the original creator’s trademark and also infringing their copyright. Copying and republishing parts of a website without the permission of the copyright owner will generally constitute copyright infringement.

The type of intellectual property protection available for app developers and website builders is copyright. For you to legally protect your websites and mobile applications and assume their legal ownership, you will need to apply for the copyright. Copyright in most parts of the world is always represented with the logo ©? while trademark is represented with the ™?  logo. 

As you copyright your websites and app codes, you can as well trademark the name of the app or the website. So trademark and copyright protection are both available for you as a website builder and app developer to protect that brainchild you have poured out into the site or app.

You can be an amazing and renowned tech bro or tech sis with great and mind-blowing codes to your credit but the unfortunate thing is that your legal ownership of those codes is in question and at risk and can be stolen from you by a copycat if you do not copyright the codes and take an extra action to trademark their names. 

If you have watched the movie; “Glass Onion: A Knives Out Mystery”, you will understand more about the importance of proving that you are a legal owner of an idea or a code or you can lose everything. (I highly recommend it). 

Take action today and protect your tech brainchild and distinguish yourself from others by copyrighting those websites and codes.



How To Solve the mathematics of Business

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Equation 1:  Innovation = Invention + Commercialization.

Equation 2:  Great Company = Awesome Products + Great Execution.

At Tekedia Mini-MBA, we differentiate market problems and integrate business opportunities over 12 weeks. The final results are the paths to successful careers and business growths. The Mhagic Velocity Prize Winner for innovation in business education begins the next edition in June 2023, and the early bird  registration deadline with big discounts will end soon. #Register

To solve the mathematics of business, I invite you to register today (N90,000 or $170) here.  This is the #best school.