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EU Passes New Law That Requires Big Tech Firms To Do Better At Monitoring Content On Their Sites

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Lawmakers at the European Union have passed the Landmark Digital Services Act (DSA), which will require big tech firms to be more active in their policing of illegal content, ban advertising targeted at children, and prohibit the dark patterns that companies use to mislead users into parting with their information.

The digital services act (DSA) requires that online platforms are very intentional to search the internet for any illegal content. The European Union last month put out the sum of $12.3 million to experts to assist in investigations and compliance enforcement.

Recently the commission set up a task force, with about 80 officials expected to join up, which critics suggest is inadequate to monitor the actions of these tech firms. These various teams, according to the EU industry Chief, Breton, disclosed that they would focus on different issues such as risk assessments, messenger services, and data access during the implementation of the rules.

Regulator will also set up a European center for algorithmic transparency to attract data science and algorithm scientists to help with enforcement. Any company that breaches the law will get a fine of up to six percent of the company’s annual global turnover.

However, having analyzed the whole law, experts disclose that the EU will face challenges in enforcing these laws.

According to the deputy director of the European consumer organization, Ursula Pachl, he disclosed that if the commission does not hire experts to monitor big tech practices in the market, they could be affected by ineffective enforcement.

In a response to these analyses by experts, the European Union industry Chief Thierry Breton disclose that the commission has already started to gear the internal organization to this new role.

In his words, “We have started to gear the internal organisation to this new role, including by shifting existing resources, and we also expect to ramp up recruitment next year and in 2024 to staff the dedicated DG connect team with over 100 full-time staff”.

Lawmakers at the European Union have also called for a bigger task force to counter Big techs’ deep pockets and an array of lawyers. The new law proposed by lawmakers at the European Union will ensure that business users would be able to promote their products and services on these tech platforms and reach deals with customers off the platform.

The law also mandates that companies will not be allowed to favor their services over rivals or prevent users from removing pre-installed software or apps. Tech companies will also be accountable for the content which was created by users and amplified on their platforms.

According to reports, one of the reasons why the European Union made this move to regulate the content of these Big Tech firms is as a result of the 2016 U.S presidential election, where it was disclosed that Russia used different social media platforms to influence voters.

Even though big tech companies like Facebook and Twitter have promised to crack down on disinformation on its platform, it has only worsened which has forced the EU to step in.

The EU law demands that the government would be able to force companies to take down a wide range of content that is illegal and misleading. Platforms like Twitter and Facebook will be mandated to provide users with tools to flag down inappropriate content, which is a more swift and effective way.

Also, E-Commerce platforms like Amazon would flag down products such as counterfeit sneakers or unsafe toys. The digital services act will also ban deceptive techniques big tech companies use to nudge people into doing things they didn’t intend to, such as signing up for services that are easy to opt into, but hard to decline.

Nigeria Tech Talent Shortage – How Brain Drain Is Threatening Recruitment

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There is no disputing the fact that most firms in Nigeria are constantly losing top tech talents to organizations abroad. Enticed by great incentives and highly competitive wages these tech talents do not hesitate to migrate to Europe. Today, Nigeria leads the rest of Africa as the country with the most immigrants in countries like the UK, US, and Canada.

These Nigerian tech talents are leaving their current positions which is posing a serious challenge to their employers, due to their exit, these employers are often faced with the issue of replacing them. I earlier wrote an article concerning the high resignation of top tech talents in Nigerian Banks.

The exit of these tech talents from organizations has become a huge problem for their employers, due to mobility and options available to them today. Employers are finding it hard to get them replaced, and if eventually they find their replacement, it won’t be long before that talent moves to another organization which is often to a company abroad.

The tech economy globally, is now low with barriers from entry, that even those at entry-level with marketable skills are still sought after by different organizations overseas.

During and after the pandemic, so many companies in Europe began to change their workplace structure to either remote or hybrid systems of work, which mandated that employees can perform their jobs from anywhere they are, and only report to the workplace if there is a need for it.

Many workers welcomed this development which suddenly became a norm. Unlike in Nigeria, most firms still hold on to the traditional workplace structure, which some executives disclosed that working onsite is more productive and an effective way to boost staff morale.

Despite the fact that remote work has become significant with tech companies, some Nigerian firms still struggle with allowing tech talents to work remotely, which a large percentage of them are not cool with. Even top companies like Google and Apple had to allow their staff members who do not want to return to the workplace to work from home.

Almost every day, tech talents in Nigeria announce on social media platforms, especially on Twitter, that they are finally relocating from Nigeria to join a company in Europe. Most of the reasons for their relocation ranges from competitive salaries, Excellent working conditions,  flexibility of employees, Good infrastructure, etc.

There is an evident discontent that these local tech talents are treated unfairly compared with expatriates that work for Nigerian organizations. Some other factors that spur these tech talents to leave the country is when they hear the testimonies of friends or colleagues who left the country and are enjoying so many benefits that they never got back in Nigeria.

While some of these tech talents migrate, some are hired to work remotely for these organizations. The world is constantly evolving and Nigerian companies must see the need to evolve to retain these talents.

Remote work systems have become so popular in the tech ecosystem, that rather than insist on full-time employment, Nigerian employers should understand that such a system is outdated.

These shortages of talents have caused some problems for some of these organizations. For instance, in banks in Nigeria, they have witnessed a high level of frustration in efficiently running their digital banking business.

It’s high time Nigerian organizations offer these tech talents competitive wages coupled with incentives which is one major factor that encourages them to migrate. Most of these migrations usually come from tempting offers from companies outside Nigeria.

No tech talent will want to leave where he or she is well paid. Although I will not dispute the fact that some organizations pay tech talents well, unfortunately, the situation of the country has forced some of these talents to migrate to saner climes.

With problems in the country ranging from insecurity, bad governance, poor infrastructure, and poor power supply (seriously affecting remote workers) all of these have prompted them to relocate without looking back.

Nigeria is currently competing for the few remaining tech talents against European countries. It is unfortunately a competition that the country seems to be losing almost every day. The brain drain is seriously threatening local tech talent recruitment.

Boko Haram Breaches the Security of Kuje Correctional Center, Frees its Members

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On Tuesday evening, terrorists attacked Kuje Correctional Centre in Abuja, Nigeria’s capital. The attack was successfully executed through the use of explosives that altered the security of the facility.

According to the Minister of Defence, Maj Gen Bashir Magashi, about 600 inmates broke out of the Medium Security Custodial Centre. He told journalists that the attack was carried out by suspected members of the Boko Haram terrorist sect.

“They came in with high explosives they attempted the initial entry with a very high explosive, but they were unsuccessful.

“Then they attacked another section of the wall with even higher grade explosive which brought the wall down. The forces on ground did everything they could to repel them but the numbers they came with was overwhelming which they were not able to fight against. But they kept on fighting gallantly, unfortunately the breach happened.

“The incident took about 30 minutes, then reinforcements arrived. The inmates here are about 994. And when they broke out, because this people came specifically, we understand they are Boko Haram, they came specifically for their co-conspirators, in order to get them, some of them are now in the general population. So they broke out and other people in that general population also escaped.

“But many of them have returned, they have reported themselves to the police, some we have successfully retrieved from the bushes were they were hiding. And right now we have retrieved about 300, out of about 600 that escaped their cells,” he said.

The Minister said the attack, which so far has resulted in the death of at least one person and several injuries, was carried out to rescue terrorists being held in the facility.

Prison break is gradually becoming a norm in Nigeria. In the past two years, the nation has recorded alarming incidents of security breach in correctional centers, resulting in the escape of hardened criminals. During an attack on the Owerri prison in Imo State on April 4, 2021, gunmen had freed 1,844 prisoners after using explosives to gain entry into the facility.

There was also an attack on Benin Maximum Correctional Center, Edo State in October 2020, with most of the inmates fleeing.

However, the attack by terrorists on Kuje Correctional Facility has sent an alarming message to Nigerians. Magashi said that all members of the Boko Haram terrorist sect have escaped. But besides the danger their escape poses to the rest of the country, breaching the security apparatus of the nation’s capital in an attack that eyewitnesses claimed lasted for hours, sends a clear message that nowhere is safe anymore in Nigeria.

On Tuesday, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, confirmed this in a statement that President Muhammadu Buhari’s convoy was attacked in his home state, Katsina.

GetBundi Launches Educational Platform To Equip African Youths With STEM Skills

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GetBundi, a digital educational platform designed to deliver high-quality, engaging, and accessible science, technology, Engineering and Mathematics (STEM) courses.

It also offers English language education courses, science, technology, and innovation (STI) Digital skills across Africa.

The platform was recently unveiled in Lagos with a target to refocus Africa’s education towards STEM and digital skills which is an effective way to equip the youths with necessary digital skills, which will lift millions of people out of poverty.

According to Experts, they disclose that Science, Technology, Engineering, and Mathematics education (STEM) is the bedrock of any meaningful or sustainable economic growth and development across the world.

Unfortunately, Africa lags, as the region is still playing catch up in STEM education with less than 25% of African students in higher education studying STEM-related career fields.

GetBundi has set out to change the narrative with the launch of its educational technology platform that will equip a large percentage of youths in the African region with STEM and digital skills that will no doubt close the huge gap.

The CEO of GetBundi, Mr. Osita Oparaugo disclosed that the launch of this platform came from an understanding which he observed that only countries with STEM-enabled citizens can achieve meaningful development, because STEM education encourages creativity, problem-solving, innovation, and critical thinking, all of which are high-demand skills needed in this 21st century.

Mr. Oparaugo cited Singapore as a case study where the country used science and technology to transition from an underdeveloped country to a developed country, all of which was possible as a result of the critical role science and technology played in these advancements.

Therefore, with STEM education, in the coming years, Africa would be able to match up with these developed countries, especially when one considers the innovativeness and resilience of the African youths.

GetBundi is said to currently host over 1,008 hours of audio-visual content, covering different subjects with no intention to replace the traditional method of teaching in schools. Rather, they will supplement and aid these youths/students in continuous learning, which is also for out-of-school students/homeschoolers.

The platform is working earnestly to include three years of JAMB, IELTS, and TOEFL revision classes, as well as science, technology, and innovation skills on its next product deployment.

This is a commendable initiative from GetBundi to ensure that a reasonable amount of Nigerian youths are well equipped with the necessary digital skills. In today’s digital world, having a digital skill is a prerequisite for a beautiful career.

Unlike the obsolete curriculum that most schools in Nigeria use to teach students which is void of digital skills, GetBundi is ensuring to fill that vacuum to ensure that these students don’t miss out on digital skills to be able to compete with other youths in developed countries.

These days, it is not just enough to possess a degree, rather it must be accompanied with digital skills for one to be able to navigate easily in today’s digital world as well as their career.

This innovative learning will no doubt equip these young ones to be entrepreneurs, rather than job seekers. It will also give room for an innovative society that will positively impact the country’s economy.

The arrival of the fourth industrial revolution has necessitated the prioritization of digital skills. Digital skills are no doubt now required more than ever, to stay relevant and competitive in the global economy that is majorly tech-driven.

It has become imperative for a sustained investment in digital skills to support the shift in career opportunities driven by digitalization for long-term economic growth, and GetBundi is actively working towards ensuring that these youths are well equipped with the necessary digital skills to take up relevant digital jobs across the globe.

Congratulations Faculty for Your Commercial Paper Win

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Join us at Tekedia Institute as we congratulate our Capital Market faculty, and Managing Director of TrustBanc Capital and TrustBanc Asset Management, Azeez Lawal, for a major win in the market. Their parent company, TrustBanc Financial Group Holdings, led by CEO, Mr. Abu Jimoh, CFA, just closed its  series 7 and 8 Commercial Paper (CP) issue for a total amount of N5.85bn under its FMDQ approved N20bn CP programme.

We congratulate the team and thank Azeez for preparing a generation of capital market leaders through his course at Tekedia Institute Mini-MBA. We wish TrustBanc more wins ahead.

Tekedia Institute offers Tekedia Mini-MBA, an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents. Besides, programs are designed for ALL sectors, from fintech to construction, healthcare to manufacturing, agriculture to real estate, etc.