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FG Supports Google’s Next Billion Users Plan

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In line with its Economic Recovery and Growth Plan, especially its strategy to diversify the economy by making technology an enabler for forex revenue earnings, the Buhari administration would be actively supporting Google’s Next Billion users plan intended to ensure greater digital access in Nigeria and around the world.

This will afford millions of Nigerians access to the Internet and particularly support content distribution.

Vice President Yemi Osinbajo, SAN, gave the assurance during a meeting with Google executives at the company’s corporate headquarters in the Silicon Valley at the start of the investment road show he is leading to San Francisco and Los Angeles.

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Google CEO Sundar Pichai welcomed the Vice President to the meeting held at Googleplex, the corporate headquarters of Google and its parent company Alphabet Inc., located in California, United States.

Nigeria has been identified as one of the major countries where the latest generation of Internet users will come from, and the next billion users are said to be already changing the Internet in three key ways: the prominent use of smartphones to access the Internet, an instinct for universal computing, and a demand for localised content.

The future of the internet is in the hands of the next billion users, as the global technology company has noted, and it is reckoned that the latest generation of internet users will come online on smartphones in places like Brazil, China, India, Indonesia and Nigeria.

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For Nigeria, the Google Next Billion Users plan is expected to provoke innovation on an unprecedented scale.

In the same vein, the VP and Google executives also discussed  localization of content and content creation to make content cheaper and more accessible to Nigerians.

Prof. Osinbajo also discussed other areas for possible partnership with Google, including the establishment of Google Artificial Intelligence Centers in Institutions of Higher Learning in Nigeria and the establishment of a YouTube Creator space to support Nigeria’s digital content producers and enable them make money with their craft leveraging on YouTube and Google Tools.

Other areas discussed include the expansion of Google’s Launchpad Accelerator Program in Africa. Google has also indicated interest in the policy environment in Nigeria and formulation of policy to encourage partnerships and investments from Google with companies in Nigeria’s technology space.

This is in line with Nigeria’s ERGP plans, and the country’s quest to become a data driven digital economy, knowledge and business process outsourcing hub for the global market, and making gains in terms of the efficiency and transparency of process that a digital economy offers.

Also in Federal Government’s effort of ensuring a skilled work force, it is partnering with Google to increase the number of Nigerians in the global technology firm’s Launchpad Accelerator, and Google I/O Developer Festivals.

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Also Google will offer training to Nigerians on Android and Web Development, Digital Marketing and Taking Business Online.

A major objective of the Vice President’s trip is to showcase to the world the progress and strides in the country’s technology, innovation and creative space by Nigerian Start-ups and entertainment industry practitioners.

At the meeting held on Monday in Silicon Valley, the Vice President also interacted with scores of Nigerians working with Google.

The Vice President later met with a series of key technology investors and also visited the headquarters of LinkedIn where he was the Special Guest at the firm’s Fireside Chat in a room packed full of Nigerians in Diaspora among others.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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