DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 5701

When Bankers Cannot Operate Foreign Bank Accounts

1

It looks like a great idea. Yes, if every stolen money in Nigeria is warehoused or shipped abroad  via the banking system, restricting bank leaders from operating bank accounts may reduce corruption. That is what a new proposal in the Nigerian parliament is pushing for: “It was observed that the Principal Act did not prohibit employees of banks from having foreign accounts. This omission may be exploited. The Amendment Bill expressly prohibits employees of banks from operating foreign accounts.” Besides the accounts, there is also a new playbook: the “Bill makes assets declaration by declarants to include the assets of their spouses and unmarried children less than 18 years old.” This is a distraction!

Workers in the banking sector may be barred from operating foreign accounts as the House of Representatives passed for second reading a bill to amend Banks Employees Act.

On Tuesday, the lawmakers debated the bill that seeks to amend a decree promulgated by the Ibrahim Babangida military administration.

The proposed bill provides that bank employees and customs officers must declare their assets.

According to the principal Act, the Secretary to the Government of the Federation is the custodian of the asset declaration for bankers and customs officers.

Get me right: the government has to do what it has to do and the legislators certainly will put efforts to show they are working. But one question I have is this: has asset declaration and prohibition of foreign bank accounts stopped politicians from stealing Nigeria dry? What is the working paper examining when we introduced that law and what the impact has become? Daily, Nigeria continues to make laws without data, making everything look like a guesswork.

We do not need these distractions. Nigeria has many laws in the books to clean the society. What is lacking is strong enforcement. You do not need another law to try those who sent cash-stuffed bullion vans a night to election or the bank director who made payments to INEC commissioners. We know these people, and we have done nothing because they are untouchable people. By resorting to this law, the parliament is creating an impression that had we had the law, we could have done better. 

Do not be deceived. It is all a show!

Besides Military and Economy, China is Taking its Rivalry with the U.S. to Space

1

Since 1990, China’s economy has without let up, shrugged off the shackles that birthed underdevelopment and kept its people poor. With Gross Domestic Product growth, which never went below 5% since 1991, at 8.0% in 2000, the once South Asian underdog has moved from the crampy side of the global economy to the forefront, defying the odds in baffling ways that have held the world in awe.

In 2021, China is leading the world’s post-covid economic recovery with a record growth of 18.3% in the first quarter of the year. It’s the biggest jump in gross domestic product (GDP) since China started keeping quarterly records in 1992. The world’s most populous country has thus made a quantum leap from $1.211 trillion GDP in 2000 to $16.64 trillion GDP in 2021. There is only one country standing in the way of China — the United States.

While China’s center of focus has been economic development sustained by long-term plans, it is not lagging in other areas where the US and Russia have dominated for years. Its exploits are now telling stories that 20 years ago would have been discarded as fables. They bordered on military might, and now space aeronautics.

With 2,185,000 active military personnel, China’s People’s Liberation Army ranks first in number of personnel. It has also moved from a $22.93 billion military budget in 2000 to $209.4 billion in 2021, ranking second to the United States.

China’s military strength has, in a matter of a decade, revived rivalry with the US Army, increasing its geopolitical authority, expanding its power play in the international scene, and making it a formidable force that the rest of the world has become wary of.

But away from these feats, the South Asian country is leaping up to the sky, a place it is least expected to be seen, at least not now — space technology and astronomy.

China’s first efforts at human spaceflight started in 1968 with a projected launch date of 1973. Although China successfully launched an uncrewed satellite in 1970, its crewed spacecraft program was cancelled in 1980 due to a lack of funds. Since then, China had made other attempts at astronomy, but they had been largely overshadowed by US and Russia exploits until recently.

On November 23, 2020, China launched its Chang’e 5 mission, a moon explorer-mission designed to harvest materials from the moon. The lander landed on the moon on December 1, and the return capsule brought about 60 ounces (3 3/4 pounds, or 1.731 kilograms) of lunar material back to Earth’s surface on December 16. The materials were the first new moon samples in 44 years, and China became the first country to send an unmanned rover to the far side of the moon.

In February 2021, China’s Tianwen-1 mission, an unmanned spacecraft launched in July last year, landed on Mars with a combination of an orbiter, a lander and a rover — making it the first to send all three elements to the red planet. The success of the mission ignited a discussion on how far China has come to disrupt the status quo as it coincided with the US perseverance mission, which is also on a fact finding assignment on Mars. The US, following the dissolution of Soviet Union and Russia’s waned interest in space activities, has exerted supremacy in astronomy for long, but now, it’s getting challenged by a newcomer from the east, and it seems to be getting started.

On Saturday, three Chinese astronauts entered China’s space station during the Shenzhou-12 mission, ending the history of no Chinese in space stations. China has come from years of watching the US and Russia dominate the science of astronomy to building its own space station, and it has given it a stake in the affairs outside the earth, stoking a new celestial rivalry that the US didn’t see coming.

The taikonauts, as Chinese astronauts are called, Nie Haisheng, Liu Boming and Tang Hongbo, started the journey to a new Chinese history on Thursday, through the launch of Shenzhou-12 spacecraft to the space station named the Tiangong, according to the China Manned Space Engineering Office.

Since 2011, the National Aeronautics and Space Administration (NASA) has been banned under the Wolf Amendment, from cooperating with China due to concerns of espionage, and that has limited how much China can do in space.

The International Space Station (ISS) was a US-Russia project created after the cold war. But now, after more than 20 years in operation, the ISS is retiring and Russia is not interested in renewing its partnership with the US. That creates a potential situation of having only Tiangong. Although the Tiangong is still under construction and is expected to be completed next year, China has extended initiation to foreign astronauts to use the space station upon completion.

The ISS has been in use by 19 partners which widens US chances of finding replacement to Russia. But it would also mean Russia forming a new space station alliance that would likely be China. Already China is teaming up with Russia to build a joint research station on the moon’s south pole by 2035, a facility that will be open to international participation. This also means that a new geopolitical space alliance headed by China is being born.

Failure to form a new partnership that will resuscitate US-led ISS will mean rendering NASA handicapped, as it is not allowed to have dealings with China. NASA’s new administrator Bill Nelson, at a House hearing last month, warned Congress against American complacency in the face of China’s space ambitions. He held up an image taken by the Chinese rover on Mars, called China “a very aggressive competitor,” and lobbied Congress to fund NASA’s plans to bring humans back to the moon. His concern validates the warning of other US observers who had earlier warned the US to be mindful of China’s growing space capabilities.

Although the US still leads in space technology by long miles, China’s economic, technological and military development in the past two decades shows that it has what it takes to rival the US in all fronts, and its space breakthroughs so far show that the sky is not even the limit.

Tekedia Conversation on Satellite Business with Daniel Schapiro of SES O3b

0

For Tekedia Institute, John Mc Keown has a conversation with Daniel Schapiro of SES/O3b. Daniel explains many of the interesting features and variables of different types of satellites. These include the distance from the earth and the technologies used.

Daniel provides an immense amount of information and deep insights leveraging his years of experience in the business, since being with Gilat since 2007, on to O3b as a major satellite development project, and then on to SES since the acquisition of O3b to the present day.

It is an interesting discussion that also takes in different types of VSAT bands and frequencies, and also touches on commercial models in use.

Daniel pivots to recent activities that SES/O3b has currently live in Democratic Republic of Congo.

This discussion also opens the door for further exploring of specific areas of these technologies with SES O3b for the Tekedia community.

Spotify Acquires Podz, to Accelerate Podcast Discovery

0
London, UK - August 01, 2018: The buttons of Spotify, Podcasts, Netflix, WhatsApp and Music on the screen of an iPhone.

At a time when podcast is taking a huge place in the content space, its players are working hard to expand their market shares. Today, Spotify announced its acquisition of Podz, a startup that’s trying to solve the problem of podcast discovery.

“We’ve acquired Podz, a small, talented team of entrepreneurs, engineers, and designers, to help make that experience even better,” the company said in a statement.

“At Spotify, we are investing to build and scale the world’s best (and most personalized) podcast discovery experience,” it added. “We believe that Podz’ technology will complement and accelerate Spotify’s focused efforts to drive discovery, deliver listeners the right content at the right time, and accelerate growth of the category worldwide.”

Tech Crunch reports that since podcasts are usually upward of 30 minutes long, it’s hard for listeners to browse new shows — listening to an episode of a podcast isn’t as easy as trying out a song by a new artist. So, Podz developed what it called “the first audio newsfeed,” presenting users with 60-second clips from various shows. Podcasters often use apps like Headliner to create clips to promote on their social media accounts, and Podz follows the same idea. But instead of podcasters manually choosing how to promote their show, Podz chooses a clip using its machine learning model, which was trained on more than 100,000 hours of audio in consultation with journalists and audio editors.

Before its acquisition by Spotify, Podz raised $2.5 million in pre-seed funding from M13, Canaan Partners, Charge Ventures, and Humbition. Celebrities like Katie Couric and Paris Hilton also invested.

“Already, the average podcast listener subscribes to seven podcasts but follows almost 30 on Podz,” M13 General Partner Latif Peracha told TechCrunch via email in February. “Early signals make us optimistic the team can build a transformative product in the category.”

This acquisition marks yet another sign of Spotify’s ambition to corner the podcasting market, and audio entertainment in general — on Saturday, Spotify debuted Greenroom, its live audio Clubhouse rival. And when it comes to driving revenue from podcast subscriptions, Spotify and Apple are neck and neck. In April, Apple announced its expansion into podcast subscriptions, and the following week, Spotify began rolling out its subscription platform after teasing it in February. Apple said it will take 30% of podcast revenue in the first year, which will drop to 15% in the second. On the other hand, Spotify’s program won’t take any cut from creators until 2023, when it will take 5%.

Though podcast creators can quickly determine that it might prove more beneficial to surrender 5% of their subscription earnings than 30%, listeners will likely just flock to whatever app provides the best user experience — and if Spotify’s investment in discovery pays off, it could pose trouble for Apple’s longstanding dominance in the podcasting medium.

Spotify said it believes that Podz’ technology will complement and accelerate its focused efforts to drive discovery, deliver listeners the right content at the right time, and accelerate growth of the category worldwide.

“We plan to integrate Podz’ technology into the Spotify experience, and listeners should start seeing elements of that work before the end of the year,” Spotify said.

How Alpha Mead Is Reinventing Florence Nightingale’s 173 Years Proposition With Modular Healthcare Facility

0

In the next few days, a new chapter will be added to the health facilities provision and management book in Nigeria when Alpha Mead Healthcare Limited, a subsidiary of Alpha Mead Group, launches its modular healthcare facility in Lagos. Among the health professionals and qualitative healthcare advocates who spoke with our analysts, the facility is a great addition to the health sector in Nigeria as the country continues making progress towards sustainable realization of the universal healthcare coverage, stated in a number of national and global policy instruments.

From primary to secondary and tertiary health facilities, it has been a mix of good and bad for citizens who need urgent medical attention. During the first and second wave of COVID-19, we have seen how the pandemic destabilized people and businesses. From the rural to the urban centres, everyone was in panic mood, not knowing what the future holds as the virus spreads unabated globally. In Nigeria, the period was pathetic, when health facilities in Lagos became stressed. This is not a surprise to professionals and health advocates because the state had more than 5,000 people accessing a health facility before the virus emerged. The story was the same for Rivers and Kano states, where over 13,000 and 8,000 people access a healthy facility respectively.

Refinement of Crimean War’s and Nigeria’s Healthcare Delivery Datasets

The idea of MHF, according to our checks, was first introduced during the British and Russian War in 1854, when it was discovered that army base hospital at Scutari in Constantinople was unclean, poorly supplied with bandages and soap and the patients did not have proper food or medicine. These issues and emerging ones are more relevant to the Nigerian context after several years of introducing the facility model.

“To address these issues, we came up with the Modular Healthcare Facility (MHF). The whole idea of the MHF is to aggressively drive the penetration of healthcare facilities in Nigeria by reducing the construction timeline of a healthcare facility to less than 30 days – saving the time lost to design, construction, equipment installation and commissioning of regular brick and mortar healthcare facilities, which sometimes run into years,” Engineer Femi Akintunde, the Group Managing Director says.

Our analyst had earlier noted that the group’s strategic alliance with Oaklu Alliance will improve healthcare delivery in Nigeria. According to our analyst, Alpha Mead is bringing its status of a company that inspires others to reality. It also indicates that the Group has mastered the national market and know when it matters most to improve total real estate solution industry through global strategic alliance.

What Is In It and What Does It Deliver?

Engineer Akintunde further notes that “The MHF is a customised, mobility-enhanced, prefabricated portacabin with detachable modules equipped with state-of-the-art clinical and diagnostic equipment that is designed to take quality healthcare services to the doorstep of all Nigerians.” The MHF is equipped with Radiology Information System, Picture Archiving Communication System (RISPACS), Enterprise Electronic Medical Records (EMR) and Telehealth infrastructure for real-time reporting of investigation and remote consultation.

Our Construction Analyst, Mubaarak Abdulhameed, notes that the MHF is a disruptive initiative in the real-estate sector. It will be like producing turnkey projects targeted at the health sector. Just like turnkey buildings where everything needed in the building is provided, including furniture and kitchen utensils, in the same vein, every component required in, for instance, a diabetes healthcare facility will be delivered as a total package by the real-estate company. The same thing will go for other major (popular) diseases.