China is angry over the arrest in Canada of Sabrina Meng Wanzhou, a top executive and daughter of the founder of Chinese telecom giant Huawei.

She now faces extradition to the United States.

Chinas embassy in Ottawa has demanded Mengs release.

The Chinese side firmly opposes and strongly protests over such kind of actions which seriously harmed the human rights of the victim, the embassy said in a statement.

The Chinese side has lodged stern representations with the US and Canadian side, and urged them to immediately correct the wrongdoing and restore the personal freedom of Ms Meng Wanzhou.

The detention of Meng Wanzhou, Huaweis chief financial officer, comes after American authorities reportedly launched an investigation into suspected Iran sanctions violations by Huawei, which was already under scrutiny by US intelligence officials who deemed the company a national security threat.

The arrest stirred tensions just as the United States and China agreed to a ceasefire in their trade spat while negotiators seek a deal within three months.

News of her detention rippled through stock markets in Asia, particularly Shanghai and Hong Kong, with tech firms among the worst hit. By lunch Shanghai was 1.3 percent lower while Hong Kong was 2.6 percent off.

China is working creatively to undermine our national security interests, and the United States and our allies cant sit on the sidelines, US Senator Ben Sasse in a statement linking the arrest to US sanctions against Iran.

Sometimes Chinese aggression is explicitly state-sponsored and sometimes its laundered through many of Beijings so-called private sector entities that are in bed with (President) Xi (Jinping)s communist party, he added.

Meng was arrested in the western city of Vancouver on December 1, Canadas ministry of justice said in a statement, the same day that Trump and President Xi Jinping announced a truce in their tariff war in Argentina.

The ministry said the US is seeking her extradition and she faces a bail hearing on Friday, adding it could not provide further details due to a publication ban that was sought by Meng, whose father, Huawei founder Ren Zhengfei, is a former Chinese Peoples Liberation Army engineer.

Huawei said it was unaware of any wrongdoing by Meng and was provided very little information about the charges.

Huawei complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the UN, US and EU, the company said in a statement.

The Wall Street Journal reported in April that US Department of Justice had opened an investigation into suspected violations of Iran sanctions by Huawei.

The New York Times said the company had been subpoenaed by the Commerce and Treasury Departments over alleged violations of Iran and North Korea sanctions.

Huawei is not the first Chinese telecoms equipment firm to face the ire of US authorities.
Earlier this year, the US imposed a seven-year ban on the sale of crucial US components to Chinese smartphone maker ZTE after finding it had failed to take action against staff who were responsible for violating trade sanctions against Iran and North Korea.

The ban nearly killed the Chinese tech company, which said it was forced to cease major operations in May.

A month later, Washington and Beijing reached a deal that would strike ZTE from the sanctions list just days after China reportedly offered to ramp up purchases of American goods to help cut the yawning trade imbalance with the US. American officials denied any connection between the two.

In exchange, ZTE agreed to pay a hefty $1 billion fine and put an additional $400 million in escrow in case of future violations. It was also ordered to replace its board of directors and retain outside monitors.

The case showed that China is highly dependent on imports of US-made semiconductors or computer chips and reinforced Beijings need to become self-reliant on this key technology.

Huawei is one of the worlds largest telecommunications equipment and services providers.

But despite global success, its US business has been tightly constrained by worries it could undermine American competitors and that its cellphones and networking equipment, used widely in other countries, could provide Beijing with avenues for espionage.

In May, the Pentagon said that devices from Huawei and ZTE posed an unacceptable security risk. Personnel on US military bases are banned from buying equipment manufactured by the Chinese tech firms.

Over the summer, Australia barred Huawei from providing 5G technology for wireless networks in the country over espionage fears.

New Zealand followed suit in November, but said the issue was a technological one.

Britains largest mobile provider too has joined the global ban on Huawei.

On Wednesday, BT announced it was removing Huaweis telecommunications equipment from its 4G cellular network, following a warning from the head of MI6 foreign intelligence service that singled out the Chinese company as a potential security risk.

Despite being essentially barred from the critical US market, Huawei surpassed Apple to become the worlds number two smartphone maker in the second quarter of this year

Source: NAN

The United Nations Development Programme (UNDP) and Accenture have launched YAS! (Youth for Africa and Sustainable Development Goals), a pan-African entrepreneurship portal-platform with a two-day programme in Lagos.

The Portal-Platform addresses four main pillars of the entrepreneurship ecosystem Information, Mentorship, Funding and Network.

Africas entrepreneurial space is advancing rapidly however, success stories are often isolated and commonly found only on the national or regional level, according to Lamin Momodou Manneh, UNDPs Regional Director.

In North and West Africa, Nigeria and Egypt are taking a lead role while other localities remain marginalized.

YAS! will help to scale these efforts across the region and the entire continent to improve on the individual achievements and make them collective.

YAS! is an initiative of UNDP, developed by its Regional Service Centre for Africa (RSCA) and powered by Accenture that aims to connect entrepreneurs to the resources they need to develop and grow their ideas or businesses.

Users can interact on the platform, leveraging features such as learning, an ecosystem map, and information around opportunities for funding youth development.

The activation, which will take place on the 10th and 11th of December 2018, in Lagos, will be a two-day programme, where entrepreneurs, mentors, investors, corporates and donors will discuss entrepreneurial topics, attend workshops and network.

Day 1 will comprise panel discussions, workshops and a shark tank. On Day 2, there will be a hackathon, where entrepreneurs will learn about emerging technologies such as blockchain, big data

(Reuters/NAN) Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by the Organisation of the Petroleum Exporting Countries (OPEC).

The meeting is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 per cent since October.

International Brent crude oil futures LCOc1 were at 61.04 dollars per barrel at 0531 GMT, down 52 cents, or 0.8 per cent from their last close.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were at 52.38 dollars per barrel, down 51 cents, or 1 per cent.

Traders said oil prices were being weighed down by weak global financial markets, which saw stock markets tumble on Thursday.
Since early October, crude oil has lost around 30 per cent of its value amid surging supply and fears that an economic downturn will erode fuel demand.

A massive liquidation in long positions by money managers has dampened market confidence on oil prices considerably, said Benjamin Lu of Singaporean brokerage Phillip Futures.

OPEC is meeting at its headquarters in Vienna, Austria, on Thursday to decide its production policy.
Led by Saudi Arabia, OPECs crude oil production PRODN-TOTAL has risen by 4.1 per cent since mid-2018, to 33.31 million barrels per day (bpd).

Oil output from the worlds biggest producers OPEC, Russia and the United States has increased by a 3.3 million bpd since the end of 2017, to 56.38 million bpd, meeting almost 60 per cent of global consumption.

The increase alone is equivalent to the output of major OPEC producer United Arab Emirates.

Russia, a major oil producer but not a member of OPEC, will meet with the producer cartel on Friday to discuss production levels, and it is widely expected that a supply cut will be agreed.

Marketsbelieve the production cut deal will be in range of 1-1.3 million bpd, ANZ bank said on Thursday.

Source: NAN

Twitterati are questioning why President Donald Trump did not join other attendees at former President George H.W. Bushs funeral on Wednesday as they read the Apostles Creed.

The cameras showed Trump standing solemnly beside the Clintons and Obamas as the former presidents recited the Christian creed from their programme.

Trumps behaviour triggered many reactions on Twitter, as reported by TheHill.com:

Curious moment here as all of the former Presidents and First Ladies read and recite the Apostles Creed President Trump

• Insurance business
• Banking business: The Minimum Authorised Share capital is 25 billion.
• Stock brokerage
• Partnership with more than 20 members. Exceptions where no company must be incorporated here is in respect of firms of legal practitioners, Accountants and Cooperative Society registered by Law.
• Pension custodians/Administration/fund managers/issuing houses
• Aviation companies
• Private Guards company
• Foreign companies; the authorised share capital is 10 million.

EFFECT OF INCORPORATION OF A COMPANY S.37 CAMA

• The company has power to hold property
• The company becomes a juristic person that can sue and be sued in its company name,
• The company is distinct from its members, having a common seal with perpetual succession.
• It also has the powers of a natural person -S 38 of CAMA. Thus, it can join in the formation of another company.

POSITION OF A MINOR IN FORMATION OF A COMPANY

• For a minor to join in the formation of a company as a shareholder, a member, there has to be two adults of full capacity in addition Ss. 18;S.20(2) CAMA
• He cannot be counted for the purpose calculating the legal minimum of 2 persons-S 80(2) CAMA
• Thus a minor is only restricted as to his capacity but not prohibited from joining to form a company. In terms of appointment as a Director, a minor is absolutely prohibited – S. 257 CAMA

CAN A COMPANY COMMENCE BUSINESS BEFORE INCORPORATION?
No. A company cannot start any business activities before incorporation- S 37 – 38CAM

Terms Used:
CAMA: Companies And Allied Matters Act

Gaining Control in a Private Company

CLAUSES TO BE INCLUDED IN THE ARTICLES OF ASSOCIATION TO GAIN CONTROL IN A PRIVATE COMPANY

• Appointed as a life director. S. 255 CAMA.
• Power given to a particular person under the MEMART to appoint and remove the other directors pursuant to section 41(3) CAMA
• Appointment as Chairman/MD of the Board of Directors to preside over company meetings. He has the right to casting vote in the event of equality of votes during voting on any resolution- section 240 CAMA.
• Substantial share holding to give due advantage during voting by demand of a poll.
• To be in custody of the common seal of the company.
• Creation of classes of shares with preferential rights with benefit of payment of accumulated dividend upon profit and winding up.
• Pre-emptive right upon transfer of shares.
• Pro-rata distribution of unissued shares

WHAT ARE THE DOCUMENTS REQUIRED FOR STAMPING

• Two copies of memorandum of association, section 27(6) CAMA.
• Two copies of articles of association, section 34(4) CAMA.
• Two copies of the application for registration of company

Terms Used:
CAMA: Companies And Allied Matters Act

To some of us, nothing may be as heartrending as losing data or files that had previously been safely stored on a device – be it our PC, smartphone or memory card. The reason for this can be traceable to the saying that ‘information is power’. However, when that valuable information gets missing, we are left helpless or made to go through the stress of gathering a fresh one from different sources.

But provided the gadget that once had the files is not lost then there is still a glimmer of hope that you can recover the lost files. Thanks to technology and software developers that have been working round the clock to make available apps that can help to retrieve ‘lost’ or deleted files. Five (5) of these apps shall henceforth be discussed in this article.

• Recuva: This is a very popular and effective app for recovering lost files on flash drives, memory cards, system’s hard drives and some other portable storage devices. It is specifically compatible on file systems with either FAT or NTFS architecture. It is quite easy to use as you only have to select the files to be recovered from the list of recoverables presented [after scanning has been completed]. It is however important to state that the earlier you trigger the recovery process, the brighter your chances of having the (deleted) files restored. So, whatever you accidentally deleted those important files of yours, do not hesitate to undelete them with Recuva.

• DiskDigger: Here is another one for undeleting and recovering different types of files from photos to documents, music and videos. It works on Windows and Linux operating systems, and it is capable of digging deep into a variety of storage mediums to bring back to you that (file) which was once lost. And even more interesting is the fact that there is a version for Android devices.

• EaseUS: EaseUS recovery app is a highly revered tool that has proven its effectiveness over and again. This can help to recover lost or deleted files or even the files that have been damaged from hard drives or external hard disk drive. There are versions available for Windows and Mac O. Furthermore, there exist the free and paid versions. However, while it is possible to recover data of any size with the paid version, the free version can only retrieve data with a cumulative size of 2GB.

• Undelete 360: Have you just unintentionally deleted some documents, photos or music files from your device – smartphone, hard drives, camera – you name it. If so, you do not have to worry, just undelete them with this app, and experience a 360o turn-around – from carrying a sad face to putting some smile on again. Undelete 360 is fast, efficient and very easy to use but it is only compatible with Windows.

• PhotoRec: Do not be deceived by the name, PhotoRec is not solely for recovering pictures; it can help to retrieve other (lost) data like videos and documents from different storage mediums. Plus, it can run on a wide range of operating systems – Windows, Linux, Mac OS X amongst others.

This is all we can take for now but it is worth noting that the list of recovery apps is really expansive and a search through the internet will surely let you discover more valuable apps that can be of use to you.

The world has gone full-blown techie and in this age of ours, it is somewhat ‘unimaginable’ to see any business stand the test of time without having a dose of technological input. The speed of service delivery as well as the ease of doing business have made the integration of software application rather quintessential. These inputs seem to give some companies the edge over others as customers demand peak.

Although service delivery within the banking sector may be far from being perfect – amidst varying complaints from customers – it is hard to imagine what life would have been like without the utilization of a couple of software by different financial institutions. It is in view of this that we have decided to shed light on some of the major software used by Nigerian banks

• Finacle: Finacle was developed by Indian technology company, Infosys. The software is renowned for its flexibility, high processing speed and the reliable interactive interface featured on it. It is primarily functional for running core banking operations, updating customer details, performing periodic operations [like standing instruction calculation of interest and so on]. Additionally, it is useful in mobile banking, internet banking and business analytics. Versions of this software that have been released include Finacle 7, 10, 11 and 11E. In Nigeria, Wema Bank, UBA Bank, Stanbic IBTC, Heritage Bank, First Bank, and First City Monument Bank use Finacle 10 while Fidelity Bank uses Finacle 7.

• FLEXCUBE: FLEXCUBE was originally developed by Citicorp Information Technologies Industries Limited – which is now named Oracle Financial Services Software Limited after the acquisition by Oracle Corporation in 2005. This software serves a tremendous purpose in retail banking, customer relationship and management, investor servicing and asset management. The list of Nigerian banks using FLEXCUBE include Access Bank, CitiBank, Diamond Bank, Ecobank, Union Bank and Polaris Bank.

• ICS Banks: Guaranty Trust Bank recently won the Nigerian Bank of the Year once again this year and one cannot but acknowledge the influence of the core banking system in place. Well, ICS Banks – which is the software used by GTB – is known to be efficient for taking care of several financial activities. It has got many advanced features that makes it seamlessly possible to carry out the following functions: core banking, ATM management, Online Banking, risk management, teller operations, transaction monitoring, investment banking and so on.

• Temenos T24: This banking software was developed in 1993 by Temenos Systems, a tech company based in Geneva. Modules available on this software include Corporate banking suite, retail banking suite, Asset Management, wealth management, funds management and so on. Temenos systems is not resting on its oars as it keeps investing in the latest Artificial Intelligence advances in order to maintain its market edge. Keystone Bank and Sterling Bank are the two Nigerian Banks currently using Temenos T24.

• FusionBanking Essence: FusionBanking Essence is a customer-focused software created to help financial institutions run their operations smoothly. It was developed by Misys. The platform is hinged on utilizing advanced analytics to ensure banks promptly cater to the needs of their customers. In Nigeria, Zenith Bank is the only financial institution using this very software.

The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, on Monday said he would run a people-friendly government if elected in 2019.

Atiku made the promise while addressing thousands of PDP supporters at the North-West Zonal launching of the 2019 Atiku/Obi Presidential Campaign Rally in Sokoto.

Our Nigeria of today needs leaders that will involve all in government, not some individuals who only care for their personal interests and not the country.

We have plan to involve all Nigerians in any decision making, most especially the masses that remain our priority in PDP.

Our target is to ensure Nigeria of our founding fathers, a country for all, a united and secure Nigeria that will attract more investors to participate in its economic growth.

As such, we expect all hands to be on deck in order for us to successfully achieve the Nigeria we deserve, he said.

PDP National Chairman, Uche Secondus, called on supporters to secure their Permanent Voter Cards (PVCs) to enable them to vote for the party in the forthcoming election.

Our PVCs are the only weapons for us to attain the required victory of our choice in 2019, as such, we protect them for the best interest of our desire.

We are fully confident that Nigeria is for PDP and such will always remain, as it is the only party that can deliver for the people.

So, our collective responsibility is to ensure that we come out en masse and vote for the party and also protect our votes after casting without any fear of intimidation, he said.

Secondus called on the Independent National Electoral Commission (INEC) to ensure free and fair election in the best interest of the country.

Gov. Aminu Tambuwal of Sokoto State in his remarks, welcomed all the PDP supporters from the zone and other parts of the country to the state.

He called on Nigerians to vote massively for all PDP candidates in their respective States to enable the party to deliver on its campaign promises.

Tambuwal described Atiku as a leader that can deliver all the necessary needs of Nigerians in the area of human development and all other sectors that needed to be addressed in the country.

We are confident that our partys candidate, structure and reputation will be the best for Nigeria and Nigerians and will surely deliver the necessary needs of our people.

As such, we have to come out en masse in February 2019 to vote for PDP for the best Nigeria of our dreams, Tambuwal said.

In his remarks, former President Goodluck Jonathan said that Nigeria has a lot of challenges that need to be systematically addressed.

We believe that today we are facing a lot of challenges in our country and we believe Atiku is the only candidate that can deliver well in tackling such, Jonathan said.

Former Governor of Kano State, Alhaji Rabiu Kwankwaso, described the gathering as a great achievement for the zone and the success of PDP in the country.

He said Atiku remained one of the tested and trusted leaders in Nigeria who deserved the support of the people to achieve a greener country for all.

President of the Senate, Bukola Saraki, said Atiku is contesting to unite Nigeria and tackle all the challenges in the country.

Other personalities who attended the rally were former governors Babangida Aliyu of Niger, Sule Lamido of Jigawa, Ayo Fayose of Ekiti and Attahiru Bafarawa of Sokoto State.

Former President of the Senate, David Mark, former Governor of Kaduna State, Ahmad Makarfi, former Governor of Adamawa State, Boni Haruna as well as all the PDP governorship candidates from the seven States in the zone, also attended.

Source: NAN

By Isaac Aregbesola

Foreign Affairs Minister, Geoffrey Onyeama, says 2019 election is not a matter of `life or death for President Muhammadu Buhari because he will be happy to accept the verdict of the electorate.

Onyeama in an interview with the News Agency of Nigeria (NAN) said that all the president wants to do is to create a level playing field for all the political parties.

He is fully committed to ensuring that the next election in 2019 is free, fair and transparent and that each vote should count.

I think most importantly for him, it is not a matter of life or death. That is where he is coming from. He is very happy to accept whatever the outcome is and the will of the people.

He doesnt want to interfere with the process, he wants INEC to be totally independent for them to do the right thing.

He is ready to invest and provide all the resources for them to be totally independent, he said.

He recalled that Buhari almost did not purchase the nomination form but for the intervention of well wishers.

Onyeama assured Nigerians that Buhari is going to practice what he preached.

He has been to Supreme Court to challenge election, he has been on the other side; he appreciates more than anyone else the importance of free, fair and transparent election.

He always said that the electronic process that has been introduced helping to take away the human element has been the game changer, something that he loves, so he believes in free and fair election, he said.

Onyeama said that Buhari would show good example to West Africa and other countries by practicing what he preaches.

He said that the president led the intervention of ECOWAS in the Gambia and sent special envoys to Mali, Guinea Bissau and Togo to ensure democratically elected government in those countries

He has sent me as a special envoy to ensure that the electoral process in Guinea Bissau is on course; he sent me as a special envoy to Mali get the opposition to accept the court ruling after the election.

He sent me as envoy to Togo to help them to push for a transparent and fair process as they are also prepared for legislative election.

He went to the International Criminal Court as a special guest of honour and delivered a speech to the world about the importance and the rule of law and fair election, he said.

Source: NAN