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Promoting Awareness On The Malaise Of Malaria On World Malaria Day

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April 25 annually, the global community commemorates World Malaria Day. Due to the widespread malaria infection and its deadly consequences, the World Health Organization (WHO) thought it wise to proclaim the day.

In view of this, in May 2007 during the 60th session of the World Health Assembly, April 25 of every year was unanimously adopted as the World Malaria Day. The day was established to provide education and thorough understanding of malaria disease across the globe, especially in countries where the disease seems to be endemic.

Malaria remains a mosquito-borne infectious disease of humans and other animals caused by a group of single-celled parasitic microorganisms known as protozoa, belonging to the genus plasmodium. The disease is mainly transmitted by mosquito bites, and the symptoms often commence a few days after the bite.

Malaria is transmitted most commonly by an infected female Anopheles mosquito. The mosquito bite introduces the parasite called plasmodium from the mosquito’s saliva into a person’s bloodstream. The parasites then travel to the liver where they mature and reproduce.

The signs and symptoms of malaria typically begin eight to twenty-five days following infection; however, symptoms may occur later in those who have taken anti-malarial medications in the past as prevention. Initial manifestations of the disease, which is common to all malaria species, are similar to flu-like symptoms and can resemble other conditions such as septicemia, gastroenteritis and viral diseases.

The presentation may include headache, fever, shivering, joint pain, vomiting, haemolytic anemia, jaundice, hemoglobin in the urine, retinal damage, and convulsions. The classic symptom of malaria is paroxysm – a cyclical occurrence of sudden coldness followed by shivering and then fever and sweating; occurring every two days in P. Vivax and P. Malariae infection.

Severe malaria, which might lead to death, is usually caused by P. Falciparum – often referred to as ‘Falciparum Malaria’. Its symptoms arise nine to thirty days after contracting the infection. Individuals with cerebral malaria frequently exhibit neurological symptoms including abnormal posturing, nystagmus, conjugate gaze palsy i.e. failure of the eyes to turn together in the same direction, opisthotonus, seizure, or coma.

There are several serious complications of malaria. Among these is the development of respiratory distress, which occurs in up to twenty-five percent (25%) of adults and forty percent (40%) of children with severe P. Falciparum malaria. Possible causes include respiratory compensation of metabolic acidosis, non-cardiogenic pulmonary oedema, concomitant pneumonia and severe anemia.

It’s worthy to note that, concurrent infection of HIV with malaria increases mortality rate; malaria in pregnant women is the major cause of stillbirths, infant mortality, abortion and low birth weight, particularly in P. Falciparum infection.

Symptoms of malaria can recur after varying symptom-free periods. Depending upon the cause, recurrence can be classified as either recrudescence or relapse. Recrudescence is when symptoms return after a symptom-free period; it is caused by parasites living in the blood as a result of inadequate or ineffective treatment.

Whilst, relapse is when symptoms reappear after the parasites have been eliminated from blood but persist as dormant hypnozoites in liver cells. It commonly occurs between eight to twenty-four weeks and is common among P. Vivax and P. Ovale infections.

Malaria infection develops via two major phases namely: one involving the liver known as exoerythrocytic phase, and one that involves the red blood cells referred to as erythrocytic phase.

When an infected mosquito pierces a person’s skin to take a blood meal, sporozoites in the mosquito’s saliva enter the bloodstream and migrate to the liver where they infect hepatocytes, multiplying asexually and asymptomatically for a period of eight to thirty days.

After a potential dormant period in the liver, these organisms differentiate to yield thousands of merozoites, which following rupture of their host cells, escape into the blood and infect the red blood cells to begin the erythrocytic stage of their life cycle.

The primary sources of mosquitoes include sewage, refuse, dirty stagnant water, and untidy environment. In most cases, mosquitoes are peculiar to damp and dirty environments or substances such as gutter, pool, feces, urine, among other solid and liquid waste materials. This is why residents of untidy localities are at a high risk of contracting malaria.

Methods used to prevent malaria include medications, mosquito elimination through fumigation coupled with regular environmental sanitation, as well as prevention of mosquito bites via regular cum proper use of the mosquito nets, among others. Prevention of malaria, which is yet to have a vaccine, may be more cost-effective than treatment of the disease in the long run; though the initial costs required are out of reach of many of the world’s poorest people.

Owing to the non-specific nature of presentation of symptoms, diagnosis of malaria in non-endemic areas requires a high degree of suspicion. Malaria is invariably confirmed by the microscopic examination of blood films or by antigen-based Rapid Diagnostic Tests (RDT).

Microscopy is the most commonly used method to detect the malaria parasite in the body. In spite of its widespread usage, diagnosis by microscopy suffers from two main drawbacks: many settings, especially rural are not equipped to perform the test, and the accuracy of the results depends on both the skill of the lab technician and the levels of the parasite in the blood.

Malaria is widely treated with anti-malarial medications; the ones to be used solely depend on the type and severity of the disease. While medications against fever are commonly used, their effects on outcomes are not clear.

Uncomplicated malaria may be treated with oral medications. The most effective treatment for P. Falciparum infection is the use of artemisinins in combination with other antimalarial drugs known as Artemisinin-Combination Therapy (ACT), which decreases resistance to any single drug component.

It is obvious that malaria is a killer disease. The WHO estimates that in 2010 alone, there were about 219 million cases of malaria outbreak resulting in 660,000 deaths. The majority of cases, about 65%, occur in children under fifteen years.

Survey also indicates that about 125 million pregnant women are at risk of infection each year. In Sub-Saharan Africa, such as Nigeria, Angola, Chad, Congo, Benin, Ghana and several others, maternal malaria is associated with up to 200,000 estimated infant deaths yearly. In a nutshell, globally, about 3.3 billion individuals in 106 countries are at risk of malaria, mostly among African children.

As Nigeria joins the rest of the world to commemorate the annual World Malaria Day, I urge every individual in the country regardless of age or status, to be extremely conscious of the outlook of his/her surroundings or immediate environment since malaria is mainly attributed to unhealthy surroundings.

Thus, we should always endeavour to properly dispose of any form of waste found within our place of residence as well as thoroughly sanitize our gutters and toilets at all times. In addition, we ought to ensure that our beds are always covered with treated mosquito nets whenever we lie in it.

Among all, we ought to endeavour to see our physician from time-to-time or whenever we notice any abnormality in our body system, for onward review of our health status. In the same vein, the various health workers/personnel across the country are expected to contribute meaningfully and immensely in creation of awareness regarding the causes and possible effects of malaria disease as well as its epidemic.

Most importantly, we, in our individual or collective capacities, must always bear in mind that prevention is invariably better than cure. 

Musk Breaks Through on Twitter

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Elon Musk’s push to purchase Twitter appears to have seen a green light following mounting pressure on the company’s board by shareholders to consider his bid, Reuters reported on Sunday citing people with knowledge of the matter.

Musk made a $43 billion takeover bid for Twitter earlier this month after taking 9.2 percent stake in the company. But his bid has faced a hurdle as Twitter board adopted the ‘poison pill’ in an attempt to stop the acquisition.

Twitter co-founder and former CEO Jack Dorsey had joined Musk in criticizing the board for moving to stop the bid.

Musk had asked that Twitter shareholders be involved in the decision of whether to accept his bid or not. Now many shareholders are asking the company to consider the bid, even though they have varying views regarding what a “fair price” for a “deal would be.”

Musk had promised in a letter to Twitter’s board to turn the microblogging app’s fortune around, a message that apparently seems good to shareholders. Reuters reports that many reached out to the company after Musk outlined his acquisition financing plan on Thursday and urged it not to let the opportunity for a deal slip away.

According to the sources, Twitter’s board is expected to find that Musk’s all-cash $54.20 per share offer for the company is too low by the time it reports quarterly earnings on Thursday. Nonetheless, some shareholders who agree with that stance still want Twitter to seek a better offer from Musk.

But that would be challenging because Musk’s $43 billion bid outweighs Twitter’s current $37 billion market capitalization by $6 billion, and he made it clear that it’s his “best and final offer.” However, there is hope that he could be cajoled to add more to the figures, particularly to appease shareholders who had complained that his bid is not enough.

One option available to Twitter’s board is to open its books to Musk to try to coax him to sweeten his bid. Another would be to solicit offers from other potential bidders. While it is not yet clear which path Twitter will take, it is increasingly likely that its board will attempt to solicit a better offer from Musk even as it rebuffs the current one, the sources said.

“I wouldn’t be surprised to wake up next week and see Musk raise what he called his best and final offer to possibly $64.20 per share,” one of the fund managers who is invested in Twitter said on condition of anonymity to discuss private conversations with the company.

The possibility that Musk could win over shareholders with a tender offer had threatened whatever confidence the ‘poison pill’ had brought to the board. The sources cited by Reuters said that the board is concerned many shareholders could back Musk in a tender offer if it doesn’t negotiate with him. While the poison pill would prevent Twitter shareholders from tendering their shares, the company is worried that its negotiating hand would weaken considerably if it was shown to be going against the will of many of its investors, the sources said.

But there is another challenge. Shareholders are divided on what will be the ideal price per share. Earlier this month, Saudi Arabia’s Prince Alwaleed bin Talal, a Twitter shareholder, had tweeted: “I don’t believe that the proposed offer by Elon Musk ($54.20 per share) comes close to the intrinsic value of Twitter given its growth prospects,” in response to Musk tweets on his Twitter bid.

The sources who spoke to Reuters said the price expectations among Twitter shareholders for the deal diverge largely based on their investment strategy. Active long-term shareholders, who together with index funds hold the biggest chunk of Twitter shares, have higher price expectations, some in the $60s-per-share, the sources said. They are also more inclined to give Parag Agrawal, who became Twitter’s chief executive in November, more time to boost the value of the company’s stock, the sources added.

The disparity would be one of the most challenging issues of the deal, if the shareholders don’t quickly reach a consensus on what would be the right price.

Reuters’ sources said ‘short term-minded investors such as hedge funds want Twitter to accept Musk’s offer or ask for only a small increase’. Some of these are fretting that a recent plunge in the value of technology stocks amid concerns over inflation and an economic slowdown makes it unlikely Twitter will be able to deliver more value for itself anytime soon, the sources added.

“I would say, take the $54.20 a share and be done with it,” said Sahm Adrangi, portfolio manager at Kerrisdale Capital Management, a hedge fund that owns 1.13 million shares in Twitter, or 0.15% of the company, and has been an investor since early 2020.

But most of the issues appear to have been sorted out as new information emerges from the negotiation table.

Bloomberg reports Monday morning, citing sources, that Musk is close to sealing a deal. and if talks continue smoothly, a deal could be announced today. It is not clear yet if Musk elevated his price. Musk was reportedly ready to finance his Twitter bid with as much $15 billion of his personal fortune, and has managed to rally the support of some investors who are willing to finance the deal.

Twitter shares moved up 3.5 percent Monday, following the news that a deal could be reached soon.

The Liberation of the little blue bird by Elon Musk

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Twitter is the most difficult social media platform in the main league. I am on the 3rd trial before I gave up on it. Yes, for two good times, I have deleted my accounts because I struggled with it. On the 3rd voyage, it has been weeks since I logged in.

First, this product does not allow you to build your points, in the academic way. And when you try to break them, you create a mini thesis for the readers. Then, the worst part: inability to edit posts.

But Twitter has been getting away with those issues because it is the best ecosystem to break news. Unfortunately, many of us are not in the business of breaking news; we prefer to analyze broken ones!

But help seems to be on the horizon. The little blue bird is flying to the generation’s finest innovator. People, this is the age of Mustter, a great fusion of Musk and Twitter. It promises to be amazing for the bird because Elon Musk wants to bring a liberation of “free speech”.

Twitter’s board has accepted Elon Musk’s offer to buy the social media platform for $44 billion and take it private, in what could be one of the biggest-ever leveraged buyouts of a publicly-listed company. It’s a dramatic turn of events: When the Tesla CEO unveiled his unsolicited bid 11 days ago, the social media platform appeared certain to reject it, even adopting a “poison pill” defense to ward off a hostile takeover. But Twitter started to warm up to the offer after the billionaire disclosed that he’d secured $46.5 billion in financing. About half of that financing is bank debt, the rest is cash pledged by Musk himself. Musk says he wants to “transform” Twitter into a “platform for free speech around the globe.” (LinkedIn News)

People, Musk is peerless but any promise of a censor-less digital ecosystem will not work. I have made my point before: “Elon Musk is brilliant but there is one thing he cannot achieve: a zero-censorship social media platform”.

It is a big irony: without moderation and censorship, many will lose their “freedom” to tweet. Why? On LinkedIn, if they do not have a blocking feature, I would have left. But with that blocking feature, I have put many people where they belong. They come to cause confusions and bully; we block them to have the “freedom” to discuss. I am not sure how Musk will solve that by taking Twitter private.

Of course, it does not matter when you have $250 billion in the personal balance sheet. At that level, even $44 billion could seem like a good video game.

Twitter is not making money. Unless Musk brings subscription plans, not sure how the outcome will change. It is very hard to make money on text-based products in this age of mobile. Check WhatsApp, check Twitter; their core products are text-based. In those products, you are engaged to use them unlike photo- or video-based products where you relax to consume them, making it possible for you to make time for adverts. Twitter’s challenge is native. But hey, Elon Musk builds rockets; Twitter problem is an earthly one.

Comment on LinkedIn Feed

Comment 1: Elon went on to once again test his grit and weigh his balls by going after a public company, which has served as a major communication channel for individuals, businesses and politicians and he succeeds as usual, growing even bigger balls while doing it.

However, I am not personally confident He will achieve all he is set out to achieve with free speech, Twitter still has to operate within a sovereign just like Ndubuisi Ekekwe alluded to, and free speech many times comes with its own baggage of “bad business”. I am also not confident it is one of the wise business decisions Elon will make in his lifetime.

But then again, who am I to question the decision of a Man of many landmarks, a Man who revolutionized and commercialised space travel, and a Man who has $250Bn to his Name.

Congrat to Elon and his team of advisors.

Comment 2: In my opinion, free speech is an illusion. What we have around the world are different levels of permission of speech. Some countries have higher levels of permission than others.

Apart from that, an open system where anyone can say anything is not possible. People will get hurt and lives will be destroyed. The so-called freedom of speech will suppress the freedom of others.

Eventually, the government will regulate social media and everyone will blame the government for denial of “freedom of speech”

My Response: We will be waiting to see how he will manage the ecosystem when one terrorist group posts that it is looking for fighters. As you said “free speech is an illusion” at all levels.

Another comment on 2: Ndubuisi Ekekwe If a ‘terrorist’ group can recruit fighters, the ‘terrorist’ group is just preaching to their choir. The question becomes why does the audience exist? Banning them increases the barrier to recruit, but doesnt solve the problem, it just delays it.

My Response to that: Good point. But there are many stacks in everything – the generation, distribution, etc. You may not like to be sued for making your platform a den for bad people to play games. Imagine if you allow your house as a place for drug peddlers to share their goods. Society will not excuse you if you do not make efforts to stop that by locking your doors and making sure they do not have access.

Comment 3: I’ve been reviewing this whole Twitter acquisition by Elon. Trying to make Twitter 100% uncensored could be disastrous. Extremists will always abuse such privileges. Free speech for all, trouble for some. And also, Musk is beginning to gain so much influence as an individual, he’s leading the game here on earth and over in space. Tesla and SpaceX, not to talk of Neuralink, Dogecoin and The Boring Company. Now he has added Twitter to the list. I feel there should be regulations to privatization. Musk will become a demigod. Someday we’d wake up and realized we living in Elon’s world not ours. Watch the titans play.

Elon Musk Is Considering Starting His Own Social Media Platform

 

Building the Core Pillars and Unlocking the Wealth of Alaigbo – Ndubuisi Ekekwe Speech at CC

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The recorded video is below.

The Economic Committee of the Igbo Credibility Group, a group of eminent Igbo leaders and scholars, is hosting this webinar. They have approved making the presentation public. You’re highly invited; Zoom below.

Introduction: Looking at 2,000 years of gross world product, and individual GDPs of nations, we can see two distinct economic developmental phases. Nations begin at the “invention” phase where there are many ideas, but few products and services. Successful nations transmute into the “innovation” phase where they do not just have ideas, they actually have the capacities to create products and services. Products and services are what solve frictions (i.e. problems) that societies have. Unless nations can translate those ideas into products and services, they stall economically. That translation is what GDPs capture through economic activities and productions.

Alaigbo today is an invention society – so many ideas postulated in beer parlors, taxis, offices, etc, but limited products and services to serve communities. In this presentation, Prof Ndubuisi Ekekwe will explain how the Igbo Nation can build the core pillars which all innovation societies have built, from Europe to North America to Asia. No nation in human history has developed without those pillars. Like the Europeans who created chemical compounds but were unable to make vaccines, and died of epidemics centuries ago, until Alaigbo can translate its knowledge base into market solutions, and fix frictions in our communities, the economic stasis will remain.

Europeans later turned those compounds into vaccines, after they enabled the pillars; the Igbo Nation can build out its own, and accelerate prosperity. Nigeria’s national budget of $42 billion for 210 million citizens when South Africa with 60 million people is spending $152 billion, explains the urgency for our moment.

Topic: Building the Core Pillars and Unlocking the Wealth of Alaigbo
Presenter: Prof Ndubuisi Ekekwe, Lead Faculty of Tekedia Institute and Harvard Business Review writer since 2009
Date: April 30 2022
Time: 2pm WAT
Zoom: click here

 

The Rise of NFTs and the Nigerian Tax Regime

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Just as the world gets crescively disrupted through the redefinition and driving of an increasing domain of human transactions by blockchain technology and the frenzy of a decentralized financial market gains increased traction across the globe, governments, as a crop of societal institutions that across ages have been at the centre of societal evolution, are increasingly growing nervous and recurrently frustrated in their bid to maintain the status quo in the financial sector.

When viewed from another angle other than the interest of protecting citizens from fraudulent activities, governments may not ordinarily be frustrated if their main concern, which is ostensibly taxes, were turned in unthreatened. When Benjamin Franklin sarcastically stated in 1789 that only death and taxes were certain,[1] he could never have imagined a time when humanity would be so inventive as to independently go beyond a centralised banking system, evolve blockchain technology, build decentralized currencies and trading platforms, create the concept of Non-Fungible Tokens (NFTs), and eventually use it as it is today, amongst a slew of other blockchain-based technologies in the financial sector.

So far, however, the concept of NFTs has proven to be more of a speculative industry than an art collection enterprise, thereby creating more regulatory troubles for governments who are yet to grapple with the regulation of fungible tokens built on the blockchain network and technology, which in due time should enable the evolution of an effective taxation regime. For countries like Nigeria, the nightmare is made worse by its financial sector regulatory agencies, which have sought to avoid the subject of fungible tokens’ legal status and content over the years, directing financial institutions to discontinue interaction with these technologies and frustrating any attempt by private individuals to use their services for the purposes.[2]

Hence, when the domain and content of cryptocurrencies are yet to be determined under Nigerian law to effectively rest its legal status, the questions of compliance abuse and general illegality do not only become mere concerns but a reality. For NFTs and their taxation, the troubles of investors and creators seem to be more complicated, primarily because Nigerian tax laws, just as universally obtained, have evolved in such a manner as to constructively cover all manner of human transactions having economic value. Thus, argumentatively, personal income tax, capital gains tax, and company income tax, as the case may be, amongst others, do apply to the transactions of purchase and sale of NFTs under Nigerian laws. However, the problem that arises rests with the trite principle of taxation law that a statute which seeks to impose a tax must do so in clear and precise terms so that the taxpayers and stakeholders will know who and what is being taxed.[3] By implication, therefore, such wordings as “property” used in the Capital Gains Tax Act[4] to denote assets chargeable, “income” used in the Personal Income Tax Act[5] and “profit” as used in the Companies Income Tax Act[6] for the purposes of defining accruable taxes on persons and companies, respectively, create real legal questions as to the situation of NFTs and cryptocurrencies by the means of which their transactions are generally effected under any of these constructions.

In light of the foregoing, it is important to note that taxes are deductible only on the basis of a recognized currency, whether Nigerian or that of another sovereign country.[7] Consequently, given that NFTs and cryptocurrencies are yet to be recognized as currencies under Nigerian laws, does it allow the argument that any transaction of sale or purchase of NFTs by barter with another NFT or through a cryptocurrency is not taxable under Nigerian law? Theoretically, such arguments may avail the contender to the extent that the courts are willing to accept such  as tax avoidance as against tax evasion and will therefore serve to preclude the investor or artist from any tax liability.[8]

However, it must be noted that even if such arguments are upheld by the courts, it will be extremely difficult, at the expense of saying impossible, for any person to satisfy the primary condition of not embroiling the Naira or any other recognized currency in their transactions, whether before the transaction or after its conclusion. The reasoning is simply based on the fact that cryptocurrency has not yet permeated every aspect of life in Nigeria in such a way that the investor or artist can solely use it as a means of daily transaction.

Expositorily, it is to be noted that personal income tax as within Nigeria in this circumstance will be applicable to the artist whose NFT is sold via another NFT or a token sum of cryptocurrency, either of which he eventually converts into a recognized currency, say the Naira. This is because the law will operate to input on the NFT sold or the cryptocurrency exchanged into fiat the status of a property that was created by the artist whose proceeds must be taxed. Ordinarily, this will be the same position as affecting company income tax mutatis mutandis. However, for capital gains tax, the events will be a little bit compounded as it involves the appreciation in value of a previously held economic position. Therefore, it will be necessary to determine the previous taxable economic position for the appreciated value to be thereafter taxed. Hence, when a collector or investor purchases an NFT, the instrument of purchase being traceable to a legal tender, and thereafter sells the same through an instrument of sale also traceable to a legal tender at a value in excess of that at which they purchased the NFT originally, such excess of value shall be subject to the tax regime affecting capital gains in Nigeria by imputation of the status of capital on such NFT by the law.

Conclusively and consequent of the foregoing analyses, all persons engaged in the sale and purchase of NFTs within the jurisdiction of Nigerian tax law must make every effort to keep their books up to date, as trading in a decentralized financial market may not be sufficient to exempt them from incurring tax liabilities.


[1] NCC Staff. (2021, November 13). Benjamin Franklin’s last great quote and the Constitution. National Constitution Center – Constitutioncenter.Org. Retrieved April 21, 2022, from https://constitutioncenter.org/blog/benjamin-franklins-last-great-quote-and-the-constitution

[2] Moses-Ashike, H. (2022, April 4). CBN warns Nigerians of illegal financial operators. Businessday NG. Retrieved April 21, 2022, from https://businessday.ng/banking/article/cbn-warns-nigerians-of-illegal-financial-operators/

[3] Cape Brandy Syndicate vIRC (1921) 1 KB 64

[4] Section 3, Capital Gains Tax Act, CAP C1 LFN 2004

[5] Section 3, Personal Income Tax Act, CAP. P8 LFN 2004

[6] Section 9, Companies’ Income Tax Act, CAP. C21 LFN 2004

[7] Section 54, Companies’ Income Tax Act, CAP. C21 LFN 2004

[8] 7UP Bottling Company PLC VS Lagos State Internal Revenue Board (2000) 3 NWLR (Pt 650) 565