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Alpha Mead Group Becomes Founding Member of Canadian Global Alliance for Provision of Turnkey Hospital Units

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Available information indicates that Alpha Mead Group, a total real estate solution company in Nigeria, has become member of Oaklu Alliance. This was announced through a press release credited to Morgan Reynolds, President of Oaklu of Edmonton, Alberta, Canada.

Oaklu Alliance is a strategic step of Oaklu in its readiness to build hundreds of Turnkey Hospital units in the United States and underserved countries around the world. As a company, Oaklu is offering “quick-deploy temporary and permanent hospital buildings that convert into social housing – to iconic high-rise developments and leading residential communities.”

With this membership, Alpha Mead’s Health Services and Management Unit is expected to help the company in actualizing its plan for the Nigerian market in the areas of Turnkey hospital unit development and management in Nigeria.

“The founding members of the Oaklu Alliance create a powerful base from which to deliver the Turnkey Hospital and other projects globally. Additional members will be announced as the Alliance grows to stay ahead of its current and potential customers,” said Morgan Reynolds, President of Oaklu.

Alpha Mead is also expected to share its expertise and knowledge in the healthcare sector with other members of the Alliance across the world. Other founding members include;

Shaw Industries, a subsidiary of Berkshire Hathaway – world’s largest flooring manufacturer; Teklight – International distributor of truly automatic UVD ultra-violet disinfection robots; Global Furniture Group – North American leader in office furniture;

Allwest Furnishings – Western Canada industry leader in office furnishings; Zero Mass Water – Source Hydro Panel infrastructure free drinking water solution; Renova Energy – Renewable energy infrastructure design, construction, and engineering; Ante Global Solutions – Provides specialized security services globally; Old Park Engineering Services – L.P.G. bulk storage and distribution specialists; The Lombard Group – Affordable housing solutions for the developing world and Mopec Europe – Anatomy, autopsy, and pathology equipment and supplies.

Our analyst believes that 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.

Mr. Clean, Independent Review Panel Exonerates AfDB President Akinwumi Adesina

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The President of the African Development Bank, Akinwumi Adesina, is clean, and has been completely exonerated by the  Independent Review Panel. The Independent Review Panel was set up by the Bureau of Governors of the Bank, following a complaint by the United States, to review the process by which two previous organs of the Bank – the Ethics Committee of the Board, and the Bureau of the Board of Governors – had previously exonerated Adesina.

This outcome was largely expected as what they accused him, if accepted, will mean no leader can function in this world.  When I read the allegations, I wrote this in May 2020:

These allegations are mundane; the Board can handle them, and communicate to its shareholders. They are not things, in my opinion, for an external counsel to investigate. President Trump does what Mr. Adesina is accused daily in Washington DC! Adesina does not have his daughter and son-in-law working in his office or vacationing in his hotels!

Now, the road to the second term begins.

 

The full statement

 A much awaited report by an Independent Review Panel has completely exonerated the President of the African Development Bank, Akinwumi Adesina of any ethical wrongdoings.

The Independent Review Panel was set up by the Bureau of Governors of the Bank, following a complaint by the United States, to review the process by which two previous organs of the Bank – the Ethics Committee of the Board, and the Bureau of the Board of Governors – had previously exonerated Adesina.

The distinguished three-member Independent Review Panel include Mary Robinson, who is a former President of the Republic of Ireland, a former United Nations High Commissioner for Human Rights, and the Chairperson of the Elders, a global body of wise persons concerned with the world’s wellbeing; the Chief Justice of the Supreme Court of Gambia, Mr. Hassan B. Jallow; and Mr. Leonard F. McCarthy, a former Director of Public Prosecutions, a former Director for the Office of Serious Economic Offences, and a former Head of the Directorate of Special Operations of South Africa. He also served as the Vice President of Integrity for the World Bank for nine years.

In January 2020, sixteen allegations of ethical misconduct were levelled against Adesina by a group of whistleblowers. The allegations which were reviewed by the Bank’s Ethics Committee of the Board of Directors in March, were described as “frivolous and without merit.” The findings and rulings of the Ethics Committee were subsequently upheld by the apex Bureau of the Board of Governors in May, which cleared Adesina of any wrongdoing.

The report of the Independent Review Panel states that it “concurs with the (Ethics) Committee in its findings in respect of all the allegations against the President and finds that they were properly considered and dismissed by the Committee.”

The Panel once again vindicates Adesina and states, “It has considered the President’s submissions on their face and finds them consistent with his innocence and to be persuasive.”

The conclusions of the Independent Review Panel  are decisive and now clear the way for Governors of the Bank to re-elect Adesina to a second five-year term as President during annual meetings of the Bank scheduled for August 25-27.

Adesina is a highly decorated and distinguished technocrat and globally-respected development economist. He was awarded the prestigious World Food Prize in 2017 and the Sunhak Peace Prize in 2019 for global leadership in agriculture and for good governance.

Since taking over the reigns of the Bank in 2015, he has introduced several innovative reforms including a High5 development strategy; a restructuring of the bank including setting up offices in several African nations to get closer to its clients; an Africa Investment Forum that has attracted $79 billion in investment interests into projects in Africa between 2018 and 2019. He successfully led a historic General Capital Increase campaign that culminated in the Bank’s shareholders raising the institution’s capital from $93 billion to $208 billion, in October 2019.

In June and July respectively, global credit ratings agencies Standard and Poors and Fitch Ratings both affirmed the ‘AAA’ rating of the Bank, with stable outlook.

Under Adesina’s leadership the African Development Bank launched a $10 billion crisis response facility to boost African nations’ ability to tackle the health and economic effects of COVID-19.

Several Governors of the Bank speaking off the record, say it is now time to put recent events in the past; provide the Bank’s President with full support; and bolster the Bank’s efforts on Africa’s critical development issues.

The University of Ibadan’s Vice Chancellorship Race

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The University of Ibadan Vice Chancellorship race comes to Tekedia as one of the professors drops a comment, after Mutiu Iyanda has reviewed his  top contenders. But looking at the players, you will weep for Nigeria: federal university VC selection is now a tribal matter.  So, UI will certainly have a professor from Southwest to lead it. That may even be better as a few years ago, the Nsukka community insisted that UNN’s VC must come from the community. Why not…when best graduating students are refused the usual graduate teaching assistantship jobs purely based on their tribes. Nigeria used to be built on excellence and merit but now we are all local tribal elements. Give us two more decades, local vernacular would be the key test; Nsukka Igbo for UNN, Zaria Hausa for ABU and Ibadan Yoruba for UI.

Examining the contenders using a geographical lens, analysis shows Professors Emiola Oluwabunmi Olapade-Olaopa and Remi Raji-Oyelade are from Oyo state, while Professors Kayode Oyebode Adebowale and Oluyemisi Adefunke Bamgbose, SAN are from Ogun state. Professor Adeyinka Abideen Aderinto and Professor Temitope Alonge are from Osun and Ondo respectively. As at the time of writing this piece, date of birth of Professor George Olusegun Ademowo, which should have helped our analyst in determining his age was not found on the Internet.

Univ of Ibadan VC Selection: 7 Contenders and Their Contributions to Public Understanding of the University in 5 Years

Bitcoin, Gold Soar Amidst Global Economic Woes

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Bitcoin recorded a leap above $10,000 for the first time since June 3 when bitcoin halving spurred a surge. It has however maintained stable decline until mid-July when the crypto coin started to witness an increase once again, rising to about 11%.

According to data from Coindesk, the digital currency traded at $10,196.27 at around 12:31 p.m. Singapore time, gaining 2.55% more than the previous day.

Head of business development at Luno, a cryptocurrency exchange, Vijay Ayyar told CNBC that there was a debate by big players on whether to sell off their bitcoin to the market newbies to push the price lower and make the coin more attractive for bigger investors looking for digital assets.

“This doesn’t seem to have happened. What we have unfolding is potentially re-accumulation by big players, joined by smaller traders in an attempt to push BTC higher past 10k and more past 10.5k, which is the big resistance level, where BTC last put in a high.

“We still haven’t broken the 10.5k level, if that happens; BTC is probably running to 15k. All signs point to that at this point,” he said.

Bitcoin is expected to add more gain as governments announce economic stimulus packages to tame the tides of coronavirus pandemic. Moreover, the development of potential vaccines for the virus is offering further hope that bitcoin could attract more investors who are keenly watching the development.

Ayyar added that like other commodities, bitcoin could benefit from the stimulus packages as well as the vaccine development.

“My view is that with the major governments declaring unprecedented stimulus packages… we will see continued bullish momentum across markets. So that includes equities and gold as well. And BTC and crypto will follow in this regard. Added to the fact that a vaccine seems within reach as well now, no reason to be bearish near term,” he said.

Meanwhile, gold has kept defying the pandemic and the US-China tension to record gains in different markets. In Monday morning hours trading of Asian market, spot gold traded at about $1,931,11 per ounce after its earlier $1,943,9275 trade per ounce. This market record surpassed the previous September 2011 high price. Gold futures also went up 2% to $1,938.70.

UBS chief investment officer, Mark Haefele told clients on Monday that the driving force of the surge is the negative correlation to real interest rates and the dollar.

“While we think gold will continue to be supported by rising geopolitical tensions, in our view the primary drivers of the gold are its negative correlation to real interest rates and the dollar. We think these three factors, in combination with limited supply growth as miners continue to restrain capital spending, will drive gold price higher,” he said.

CNBC reported that the yield on the benchmark 10-year Treasury note last sat at 0.5856%. The US dollar was at 93.906, while the Japanese yen traded at 105.60 against the greenback after strengthening sharply late last week from levels above 106.40 per dollar.

Vivek Dhar of the Commonwealth Bank of Australia, who is a mining and energy commodities analyst at the firm said even though there have been other driving factors to the yields, the fall in US 10-year real yields has been the “most important driver,” including weakened US dollar and safe-haven demand being lifted.

“The negative relationship between long term US real yields and gold futures has held up fairly well over the longer term. That is because when long term US yields increase, gold is less attractive relative to US interest bearing securities since gold has no income earning ability. The fall in US 10 year real yields is primarily being driven by an increase in US 10 year inflation expectations,” he said.

The geo-political conflict between the US and China is expected to contribute to further growth, but investors are warily waiting for a clear sign as they continue to look for a safe haven to hide their wealth from the economic storm.

The FUTA Hack And Why the University Should Reveal the Hacker

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Premium Times reports how computer systems in Federal University of Technology Akura (FUTA) were used to hack its website. The newspaper has always been under attacks owing to its investigative mission. While bad employees or students can misuse institutions’ resources for illegal activities, the case here is evidently different as FUTA does not see it the way it should be seen.

The university has confirmed that the attack took place, and that they know the responsible person. Reading the piece, there is one clear conclusion I can make: FUTA should reveal the hacker. That would help investigators complete their work. If the person was doing experiments or just learning hacking, debatable since the attack was sustained over days, Nigerians need to know. But if he was hired, possibly by agents of corruption to take down a bulldog-newspaper which bites really hard, we desire to also know. By protecting this individual, FUTA Management is not on the side of the taxpayers which fund FUTA.

The hacker is not a progressive activist and hacking a newspaper which is approved by law to practice journalism in Nigeria is illegal, even if he was just learning hacking. Typically, he ought to have obtained written permissions before any penetration testing or hacking activity. That is not the case here, and the very reason why SSS and Police should get involved and get this guy to answer for his actions.

Today, it is a newspaper. Tomorrow, it could be a bank. Just like that, another Yahoo Yahoo or 419er is unleashed. A university cannot protect such a person.

On the night of February 28, a hacker operating from the Federal University of Technology, Akure (FUTA), connected a computer to the university’s network and began a cyberattack on the website of PREMIUM TIMES. With a mobile phone as his backup, the attacker continued the operation for the next five days.

At about 8:00 p.m., he started with a reconnaissance scan of the newspaper’s website using a web fuzzer popular with low-grade hackers.

The following morning, at about 6:15 a.m., the attacker returned with another open-source vulnerability scanner – WPScan, free tool bloggers use to test for security vulnerabilities on their sites.

About 90 minutes later, he ran his final probe – a custom script.

The following morning, Sunday, the attacker continued his attacks – a series of distributed denial of service, DDOS, attacks that lasted until that evening. On this day, it appeared his goal was simply to shut down the newspaper’s operations by overwhelming its servers.

He began the day – at about 9:28 a.m – with an attack that exploited the very old Character Generator Protocol found in many obsolete internet-enabled devices like printers.

He ended the day with another DDOS attack exploiting the publicly-accessible Network Time Protocol (NTP) servers. NTP is one of the oldest protocols used by internet-enabled devices to synchronize their clocks.

On that day, he launched a total of seven DDOS attacks