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Zuckerberg loses £62billion in one year

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*Now world’s 22nd richest man

By Francesca Iwambe

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Mark Zuckerberg‘s fortune has shrunk by around £62billion this year following his company’s shift towards the metaverse.

After being the third richest man in the world two years ago, behind only Jeff Bezos and Bill Gates, Zuckerberg is now the 22nd wealthiest person alive.

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That’s because the stock value of his company, Meta, has plummeted following its rebrand from Facebook last Autumn.

Zuckerberg’s fortune also hasn’t been helped by the exodus of users from his social networks.

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An earnings report in February revealed that Facebook gained no new users for the first time in its history in the previous three months.

So far, the Facebook founder and apparent martial-arts enthusiast has seen $71 billion disappear from his net worth since January 1, according to Bloomberg.

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That’s the most of any person tracked by the Bloomberg Billionaires Index, on which Zuckerberg now ranks 20th, with a still mind-numbing $55.9 billion.

For reference, Zuckerberg had a whopping $142 billion a mere year ago. Compared with the beginning of the year, Zuckerberg has fallen 14 spots on the Bloomberg list, putting him into his lowest positioning since 2014, when Facebook’s Boomer-blinding, democracy-destroying powers weren’t even yet fully realized.

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Much of the loss has been attributed to Zuckerberg’s restructuring of the larger Facebook company into Meta, with its aim of taking over the metaverse.

Following the change in October 2021, the company’s earnings reports have been less than stellar. And in February, Facebook reported zero growth in monthly users, with Zuckerberg losing $31 billion in a single day.

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Army, SSS, Police rivalry worsening Nigeria’s insecurity – Amos Ojo

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Amos Ojo, the clerk of the National Assembly, says the rivalry among the Nigerian Army, the police, the SSS and other security agencies is worsening the deterioration of insecurity in Nigeria.
He also called on Nigerians to support security operatives to tackle bandits and other criminals terrorising the country.

“The consequences of inter-agency rivalry have far-reaching implications on national security and exacerbate the already existing security challenges confronting the country,” the clerk stated. “The findings of KAS showed more light on intricacies associated with some laws guiding the operations of security agencies, which include (an) overlap of functions, unclear delineation of functions.”

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The clerk gave the charge in Abuja on Monday while delivering the opening remarks at a two-day retreat on National Security Legislative Reform for Senate Committee members, organised by Konrad-Adenauer-Stiftung (KAS).

Mr Ojo expressed concern over the escalation of security challenges through social media, adding a need to put relevant legislation in place to strengthen the country’s security architecture.

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He said social media was having a field day, feasting on such conflicts, especially inter-agency rivalries witnessed among security personnel, arising from the circulation of texts, pictures and videos.

The clerk said it was the duty of Nigerians to support security agencies and not to escalate situations through social media to avoid worsening the current insecurity across the country.

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Mr Ojo added that amending all existing incongruous legislations and making provisions that would eliminate counter-productivity and ensure inter-agency collaboration required deliberate efforts and resources.

The retreat was organised in furtherance of activities undertaken to address issues relating to the country’s overlapping mandates of security agencies.

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Others, according to him, are the conflicting description of conditions and guidelines for collaboration between security agencies.

The study by KAS in 2020 revealed that the duplication of duties and lack of proper coordination often led to inter-agency rivalry among security agencies.

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TCN confirms national grid restored after Monday’s collapse

grid, NDPHC signs
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The Transmission Company of Nigeria (TCN) has confirmed that the national grid has been restored after its partial collapse on Monday.

TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah, made this known in a statement in Abuja.

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Mbah explained that the national grid experienced partial system disturbance at about 10.51am earlier in the day.

It was caused by a sudden drop in system frequency, which created system instability.

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She said that the restoration of the affected grid commenced immediately at 11.55 am with Osogbo/Ihovbor, followed by Jebba/Osogbo, Kainji/Jebba, Benin/Onitsha, Shiroro/Kaduna, Shiroro/Katampe and Alaoji/Ikot-Ekpene.

Others are Lokoja/Gwagwalada, Odukpani/Ikot Ekpene, Benin/Omotosho, Oke-Aro/Ikeja west, Egbin/Oke-Aro and Kaduna/Kano.

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She said the grid restoration has almost been completed, adding that the Nigerian Electricity Supply Industry (NESI) regrets any inconveniences caused.

Mbah promised that the National Control Centre would launch a full-scale investigation “to establish and ascertain the cause of the partial disturbance as this unwholesome event has resulted in aggregated generation loss.”

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LP Chieftain Challenges Tinubu To Go For Medical Test And Make Result Public

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Popular Political economist Pat Utomi has dared Bola Tinubu to go for a medical checkup and make the result public, claiming the All Progressives Congress (APC) presidential candidate is unfit.

He threw the challenge on Monday while fielding questions on Channels Television’s Politics Today, maintaining that the signs are there to show Tinubu is unfit for the post.

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“Physically, you can see he is ailing. Let’s not kid ourselves. Let’s be honest,” he said during the show.

Utomi refuted claims by the APC that Tinubu is fit, stating that “American presidents go through medicals.

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“Let him (Tinubu) go through medicals with Nigerian doctors and make it (result) public.”

His stance, he argued, is because next year’s election and who leads the country is about “the lives of millions of people”.

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According to him, the ruling party would have fielded another candidate in the person of Vice President Yemi Osinbajo.

“Our country has suffered so much from having ailing leaders. That was why I can say here, that was why the Vice President stepped up,” Utomi added, noting that Osinbajo “would have been a fit person”.

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He also hailed the Yoruba socio-cultural group Afenifere for reechoing its support for the Labour Party (LP) presidential candidate Peter Obi.

At a press conference in the Ikoyi area of Lagos, the group said the decision was based on the “principle of justice, equity, and inclusiveness”.

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“Peter Obi is the person of Igbo extraction that Afenifere has decided to support and back, he is the man we trust to restructure the country back to federalism on the assumption of office,” Afenifere leader Ayo Adebanjo added.

And as far as Utomi is concerned, the group is on the right track as he dismissed insinuations that the Afenifere does not pull political weight.

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