Baring any last minutes glitches, the two time finance minister and first woman coordinating minister of economy in the Africa most populous country Nigeria is set to be announced as the substantive head of the famous world trade organization (WTO).
Late August after the head of the World Trade Organization stepped down, most member countries overwhelmingly rallied behind a successor: 163 nations backed the Nigerian economist Ngozi Okonjo-Iweala, who was also a former World Bank number 2 to chair the organisation, however, such move was vehemently resisted by the past United States administration of Mr. Donald Trump.
Electing her would be “a mistake,” the Trump administration’s chief trade negotiator said, citing a lack of trade experience as the reason for resistance of her candidacy.
Mrs Iweala however stayed calm and a lot have changed within a short period of time and she is now about to be named the first woman to head this global trade empire in its 25 years history.
Who is Ngozi Okonjo Iweala? What you should know.
Dr. Ngozi Iweala is a development economist and former and twice Finance Minister of Nigeria the role that was expanded to include the portfolio of the Coordinating Minister for the Economy. In 2006 she served as Foreign Affairs Minister. She has been the Board Chair of Gavi, the Vaccine Alliance, since 1 January 2016.
She has also held several key positions at the World Bank, including as Managing Director. She is currently a senior adviser at Lazard and serves on the boards of the Rockefeller Foundation and the Center for Global Development, among others. She is also the chair of African Risk Capacity, a specialised agency of the African Union to help member states prepare for and respond to extreme weather events and natural disasters. She sits at the board of Twitter.
She was named by Fortune magazine as one of the 50 greatest world leaders in 2015, and by Forbes for five consecutive years as one of the 100 most powerful women in the world. In 2014, Dr Okonjo-Iweala was recognised by Time magazine as one of the world’s 100 most influential people.
She graduated with a degree in Economics from Harvard University, and holds a PhD in Regional Economics and Development from the Massachusetts Institute of Technology (MIT).
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The Apex bank in the African most populous Nation Central Bank Of Nigeria (CBN) have directed all Commercial banks to henceforth stop facilitating all Cryptocurrency related transactions.
In a memo made public and obtained exclusively by IYKEMAN.com, the CBN said that the directive is total and takes immediate effect.
The statement read in part;
“dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited. As such, all banks should identify persons and/or entities transacting with cryptocurrency or operating crypto exchanges on their platforms and ensure that such accounts are closed immediately. Any breaches of the order would face “severe regulatory sanctions,” the order states.
Read the memo here;
What you should know.
The central bank order was signed by Mr. Bello Hassan, the Director of Banking Supervision, and was dated Feb. 5. This is the first time the CBN is making an open Memo to the commercial banks in the country and analysts are already kicking against the policy saying it would make regulatory duties more tedious for the Apex bank.
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The FinTech and cryptocurrency trading platform #Kucoin chief executive Mr. Jonny Lyu has said that the internet robbers behind the theft of its cryptocurrency worth more than $204Million USD has be found.
He made this known through series of tweets to its followers and fans. The tweets reads;
“After a thorough investigation, we have found the suspects of the 9.26 KuCoin Security Incident with substantial proof at hand. Law enforcement officials and police are officially involved to take action.
With great support from our partners of the industry, another $64 million in assets are now out of the control of the suspicious addresses, bringing the total value to $204 million since KuCoin is coming back to fully functional. My team and I will continue to do our best to offset the impact of the incident.
As of now, a total of 31 tokens have opened deposit & withdrawal services, and more tokens including $BTC, $ETH, and $USDT will follow. After the hack, crypto projects worked to freeze or render useless most of the assets. Many teams updated their blockchain to make this happen.”
What you should know.
As it stands now, about 72% of the total hack, is out of the control of the suspicious addresses according to Mr. Lyu which is worth an overall estimate of about $204 million worth of cryptocurrency. With this, #Kucoin have proposed resumption of its trading while giving investors hope of hedging against any future hacks.
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Digital health simply refers to the use of information and communications technologies in Pharmaceutical, medicine and other health professions to manage illnesses, while reducing risks and to promote wellness.
In the past, a lot of patients and practitioners are accustomed to physical interaction when it comes to managing their health. However in recent times, a lot of those patterns is gradually changing in a very significant way. Many patients now wants a more personalized treatment schedule. This is the area digital innovation steps in.
Unfortunately plenty health care custodians are not stepping up on this reality. In truth, the use of digital technologies have helped in many ways such as optimizing systems, improving patient outcomes, reducing human error, and lowering costs of treatment. So as an expert in health, it’s very important you brace up.
The basic areas of Digital Health care.
The broad scope of Digital Health includes such categories as mobile health (mHealth), health information technology (IT), wearable devices, telehealth, telemedicine, and personalized medicine.
All of these are ways and areas that Pharmacists, Physicians and nurses could leverage on to optimize the health outcome of the patients.
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The president of the federal republic of Nigeria Major General Mohammadu Buhari (Rtd) has approved the immediate relief of duty of the service chiefs of Nigerian armed forces.
This announcement was made by the senior aide to the president Mr. Adesina. The presidency has also appointed the immediate replacements.
According to the statement: “Those involved are the Chief of Defence Staff, General Abayomi Olonisakin; Chief of Army Staff, Lt-Gen. Tukur Buratai; Chief of Naval Staff, Vice Admiral Ibok Ekwe Ibas; and Chief of Air Staff, Air Marshal Sadique Abubakar.
“President Buhari thanks the outgoing Chiefs for what he calls their “overwhelming achievements in our efforts at bringing enduring peace to our dear country,” and wished them well in their future endeavours.
“The new Service Chiefs are Major-General Leo Irabor, Chief of Defence Staff; Major-General I. Attahiru, Chief of Army Staff; Rear Admiral A. Z. Gambo, Chief of Naval Staff; and Air-Vice Marshal I.O Amao, Chief of Air Staff.
“The President congratulates them new Service Chiefs, and urges them to be loyal and dedicated in the discharge of their responsibilities.” The statement concluded.
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Over the years, humans have evolved rapidly seeking ways to make transactions and exchange of goods and services very easy and quick.
One Of such avenue is the use of representative money. Simply put, representative money by definition is any medium of exchange, often printed on paper, that represents something of value, but has little or no value of its own.
On the other hands, a commodity money is money whose value comes from a commodity of which it is made from. It consists of objects having original value or use in themselves and a buying power for regular goods and services.
Tracing the brief history of representative money, is a very far journey. The most and first explicit evidence of representatives money dates back to Chinese of old who practiced this kind of exchange in which commodity warehouses issued certificate of deposits guaranteeing the holders of such money a portion of the goods stored in the warehouse. This way, such certificates are then used as legal tender in purchase of goods and services.
What you should know.
A genuine representative money must have something of intrinsic value supporting the face value you see. A representative money in itself does not have any value, but it indicates that the holder is entitled to a share of something of value just as enumerated above. Take for instance governments issued cheques and ATM credit cards. They are valued because they represent something of value. This way it could be valued for whatever purpose it was to be used.
What you must know.
Humans have used representative forms of money for a very long time. Things like deed of lease, wills, share certificate etc all count as kinds of representative money. One of the major merits of representative money over commodity is it’s easy movement and flexibility. Instead of carrying your land about or carrying a huge chunk of your cash, you simply just needed a thing to represent some portion of your store of goods. This is in contrast to commodity money that needed to have the value of the goods in real time during any form of exchange.
The Business mogul and leader of Dangote group Mr. Aliko Dangote has retained his ranking as African number one in Forbes billionaire world ranking released recently.
This year’s ranking comes with some changes including absence of some billionaire from the list and entrance of new debutants. Notable absentee is Mrs. Folotunsho Alakija while Mr. Mike Adenuga, Abdul Samad Rabiu are the other two Nigerians that made it into the top 10 positions in Africa.
As at today, Mr. Dangote networth stood at $12.1 billion dollars. Other remaining top 10 list members are; Nassef Sawiris of Egypt ($8.5 billion); Nicky Oppenheimer of South Africa ($8 billion); Johann Rupert ($7.2 billion); Issad Ribrab ($4.8 billion); Naguib Sawiris ($3.2 billion); Patrice Motsepe ($3 billion); Koos Bekker ($2.8 billion).
What you should know.
Forbes is an American business magazine owned by Forbes, Inc. Published biweekly, it features original articles on finance, industry, investing, and marketing topics. It also reports on related subjects such as technology, communications, science, and law.
The president of the United States Of America Mr. Joe Biden Jr. In a quick stroke of a finger have reversed the Financial Crimes Enforcement Network (FinCEN) relating to cryptocurrency wallets.
A memo was released in this regard and reads;
“With respect to rules that … have not taken effect, consider postponing the rules’ effective dates for 60 days from the date of this memorandum.“
What you should Know.
From late last year, there have been a lot of motions by the United States Of America heads of treasury to bring more policy geared towards checkmating the meteoric rise of the digital currency. One Of the moves by the trump administration was to bring more transparency and give it a lot more control from the government establishment and protect investors. They also aim to increasing financial access, giving people greater control over their financial lives, and accelerating global payments.
What you must know.
Cryptocurrency related issues at the U.S. Securities and Exchange Commission (SEC) have increased in recent times, the current is the long jam lawsuit against Ripple Labs and its executives. In one of his early nominations (Mr. Joe Biden), Gary Gensler a top University Don from MIT and a blockchain professor have been nominated to chair the exchange commission. This has sent a mix feeling as to what would be expected in the cryptocurrency world in the coming years.
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Contract is a written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
What it means.
It means that making a contract requires the mutual assent of two or more persons, one of them ordinarily making an offer and another accepting. If one of the parties fails to keep the promise, the other is entitled to legal redress.
Government Contracts bidding technicalities.
Government Contracts is often very delicate and requires a full attention to details to be very successful in it. There are countless of ways Government agencies make calls for goods and services to be rendered by various contractors, prospective companies or individual. It becomes very necessary you are very abreast of many types available.
Let me quickly take you through these three kinds of government contracts calls you should look out for.
REQUEST FOR QUOTATION(RFQ): This is the simplified acquisition procedure for Government agencies typically used for contracts requiring few funds. Here you need to prepare carefully your quotation for all the products and services your company is most interested in and submit accordingly.
REQUEST FOR PROPOSALS (RFP): This applies to larger negotiations acquisition. It simply means that the government agency is open for back and forth negotiations between you and other vendors which will lead to ultimate settled and agreed upon pricing terms and conditions. In this case, the process starts when the government agency issues an RFP describing the requirements of the contract, anticipated terms and conditions and the information needed from applicants as part of the proposals. Here complete and accurate information is key to responding to a request for proposals so if you have any confusion about how to respond to certain provisions within an RFP, never shy away from contacting the officer in charge for clarification before submitting your proposals.
Invitation for BID (IFB): In this type of contract call, it is a kind of a sealed solicitation process for Government procurement meaning there is no negotiations between agency and vendor. The submitted Bid package is considered final and price points is most often seen as the key differentiator between qualified bidders. NB: Because of the sealed and final nature of the bidding process, responding to an FIB maybe the case in which you will want to be most cautious in completing your documentation and setting your prices the first time. There won’t be an opportunity for any discussion or amendments so if you overshot the bid that may just be the final and if you become too cautious and leave out relevant details the agency will ultimately reject your bid in favour of a more meticulous bidder.
What you must Know.
In any of these processes and types, ensure you follow the specific format outlined by the agency. Success in bidding process depends on your ability to follow instructions in the proposals formatting. In other words, do due diligence to follow meticulously all schedules and forms within the solicitation in the exact order, structure and time frame as requested.
Finally ensure you price your BID appropriately.
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The 45th President of the United States of America Mr Donald J Trump bowed out from the white house after a tumultuous last months characteried by counter accusations of the Nov. 3rd historic election. Read bellow his farewell Speech.
“It’s been a great honor — the honor of a lifetime. The greatest people in the world. The greatest home in the world — I call it a home.
We’ve had an amazing four years. We’ve accomplished a lot. We love the American people. And again, it has been something very special.
“And I just want to say goodbye, but hopefully it’s not a long-term goodbye. We’ll see each other again.
“Thank you all very much. Thank you.”
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