Business News
Ecobank’s head office shut over workers’ sack
Ecobank workers under the auspices of the NUBIFIE, have shut down the headquarters of the bank in Lagos following the disengagement of about 1200 workers.
Ecobank Nigeria Plc workers under the auspices of the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), have shut down the headquarters of the bank following the disengagement of about 1200 workers.
The workers, with their placards, took to the bank’s head office to protest their disengagement, insisting that the bank should pay their commensurate benefits.
[READ MORE: NSE to dialogue with CBN over banks’ recapitalisation plans]
Complaints of the workers: The workers maintained that the picketing of Ecobank would remain a continuum until the management of the bank ensure that those affected get their severance package.
Managing Director (MD), Ecobank Plc, Patrick Akinwuntan
Speaking at the protest, NUBIFIE President, Comrade Anthony Abakpa, said the union would not accept the unilateral peanut of take it or leave it attitude of the bank. Abakpa made known that the most painful part of the whole unlawful retrenchment was the alleged fraud perpetrated by the bank in connivance with the outsourcing firms.
He said picketing would continue today in other branches in Lagos, and if no cogent agreement was reached, “we would shut down their branches nationwide.”
Ecobank’s stance: As reported on Nairametrics, the lender had responded to the allegation that it laid off about 1,200 staff members. In a statement, Ecobank said it did not disengage its workers, contrary to the reports making the rounds.
The bank said that it only decided not to renew the contracts it had with its third-party recruitment agencies after the expiration, “and as such, returned this category of personnel back to the agencies who are their employers.”
(READ ALSO: Ecobank raises $200 million credit facilities)
The statement read, “As a demonstration of the bank’s concern and compassion for the affected personnel of our contractors, palliative measures were put in place by the bank to cushion the effect on them.
These include payment of contract cessation packages of over half a billion Naira already paid through their employers, as well as opportunity given to those with requisite qualification to apply to the bank for permanent employment.
In addition, the bank has offered them the opportunity to become Xpress point agents of Ecobank as a way of further providing them entrepreneurial and financial empowerment. May we state that Ecobank is not obligated to renew its contract with the service providers involved.”
[READ FURTHER: Ecobank deploys digital products for SMEs’ growth]
Corporate Press Releases
Benefits of having an immutable ledger to the healthcare system
EHR Data’s vision is for both the healthcare industry and individual patients to benefit from the blockchain platform housing healthcare records.
Technological progress has paved the way for advancements in medical science; and ample healthcare data that has made momentous contributions in the treatment of various diseases. However, there is still a lot more to be done. The current pandemic has shown everyone that data silos are not equipped to handle a huge amount of healthcare information. So many people are dying all over the world; and many of these can be prevented with enough transparent patient data within the healthcare sector.
In the latest Bitcoin news, on the second day of the CoinGeek Live conference, data platform EHR Data presented their concept of clinical healthcare data that are stored, shared and managed at an individual level on the blockchain, which is a globally distributed digital ledger.
Currently, healthcare data are stored and accessed only on private servers and transferred to third parties who request for the data. According to Chief Clinical Officer Cheryl Jorgenson, real-time clinical information cannot be accessed, clinical services cannot be tracked and there is nonexistent workflow integration in data structures at present. Patients also have no say in how their healthcare history is stored. Many even find themselves in a bind when trying to access their own personal healthcare data.
Blockchain Technology Used for Healthcare Data
Satoshi Nakamoto first used blockchain technology as an immutable database where all Bitcoin transactions are stored. It is distributed in that all nodes on the Bitcoin SV (BSV) network have a copy of the blockchain; and it is immutable because data recorded on the blockchain cannot be changed or altered.
Headed by Jorgenson, Chief Scientist & Consultant Ron Austring and Director of Product Design Joseph Eckstein, EHR Data proposed that a marriage between healthcare data and blockchain technology is the solution to the lack of transparent healthcare data. This will then create the world’s biggest health data set. EHR Data envisions healthcare records to be stored at a personal level, meaning patients will have control over who can access their data, on what terms and for how long.
Healthcare data on the blockchain can have multiple uses through micro transactions and smart contracts. In building this blockchain platform, EHR Data said they hope to improve the way private healthcare data is accessed, managed and even monetized. This is certainly big Bitcoin news for blockchain technology to be used in such a relevant manner.
Benefits of Housing Healthcare Data on the Blockchain Platform
EHR Data’s vision is for both the healthcare industry and individual patients to benefit from the blockchain platform housing healthcare records.
- This data model is built with the capacity to assimilate to the various systems being used by hospitals and other medical organizations. Inter- and intra-operability of data is the main objective—being able to provide “a single source of truth powered by the BSV blockchain.”
- Through the use of the BSV blockchain, which is highly scalable, this new data system can widen its range to more states, more countries and more drug types. It will consolidate healthcare data and systems into a more practical and accessible format.
- Consumers of healthcare need not remain as mere consumers anymore. This proposed model allows patients to benefit from more positive health results and lowered healthcare costs brought about by an upgraded data structure. Individuals can also earn money by allowing medical and pharmaceutical institutions to gain access to their personal healthcare data for research and other uses.
This most recent Bitcoin news could not have come at a better time. With the ongoing pandemic, this proposed model of using the BSV blockchain to power a new healthcare data system not only serves to benefit national and global healthcare, but also provides individuals with a new source of income.
Coronavirus
Covid-19: African Union in talks with China and Russia over vaccine
The AU and Africa CDC have revealed that they have reached out to both China and Russia over the possibility of vaccine partnerships.
The Africa Centres for Disease Control and Prevention and the African Union announced they have been in talks with China and Russia over the possibility of vaccine partnerships to ensure that Africa is not left behind when vaccines become available.
This was disclosed by John Nkengasong, Africa CDC Chief, at the Bloomberg Invest Africa online conference.
READ: Covid-19: Pfizer to file for emergency authorization for its vaccine, reaches safety milestone
“We are not limiting ourselves to any particular partner. As a continent of 1.2 billion people, we are willing to work with any partner who adheres to our strategic plan for vaccine development and access in Africa.
He said that the WHO Covax programme only covers 20% of the population, but Africa will need 60% of its population vaccinated to achieve herd immunity.
“There are multiple avenues being explored now to make sure Africa has the appropriate doses of vaccines and also that we have that in a timely fashion, not in a delayed manner,” Nkengasong said.
He revealed that the AFREXIM Bank agreed to finance vaccine procurement with $5 billion and is waiting to see how much it will receive from World Bank’s $12 billion vaccine procurement fund for developing nations.
READ: COVID-19: G-20 to extend debt relief to developing nations
What you should know
Nairametrics reported earlier this month that Pfizer Inc. disclosed that its experimental vaccine, which is jointly developed with BioNTech, was more than 90% effective in preventing COVID-19, based on initial data from a large study in the ongoing phase 3 trials.
(READ MORE: COVID-19: AstraZeneca vaccine could be 90% effective against the virus)
Last week, a pharmaceutical company, Moderna Inc., stated that its COVID-19 vaccine was 94.5% effective in treating coronavirus, after preliminary analysis of a large late-stage clinical trial.
The G-20 nations also announced a pledge to pay for vaccine distribution to developing nations that could not afford it. The leaders also unveiled a debt extension programme to developing nations during the weekend’s G-20 summit.
The Federal Government of Nigeria also announced through the Ministry of Health, that it would inaugurate an 18-man Covid-19 Vaccine Task Team, in a bid to ensure vaccine security In Nigeria.
Coronavirus
Covid-19: EU considers skipping vaccine patents to boost vaccine access
The EU has disclosed plans to increase its access to Covid-19 vaccines by offering financial incentives to vaccine production companies.
The European Union (EU) says its planning emergency measures to increase its access to Covid-19 vaccines including sidestepping patent rights and offering financial incentives to vaccine production companies to move production to Europe.
This was revealed in an EU document on Wednesday and reported by Reuters. The Document says the EU may create an emergency coordination mechanism to be issued at short notice when the EU needs a vaccine license, which is different from fully patent waivers, discussed in the WTO last week.
READ: COVID-19: EU to buy up to 300million doses of BioNTech-Pfizer’s COVID-19 vaccine
The EU says the new move will ensure faster procedures during a pandemic, which will enable generic production in the EU without the consent of patent holders.
“The Commission sees the need to ensure that effective systems for issuing compulsory licenses are in place, to be used as a means of last resort and a safety net, when all other efforts to make IP (intellectual property) available have failed,” the EU’s document said.
READ: COVID-19 boosts Fidson Healthcare Plc’s Q2 2020 performance
The EU’s actions may be triggered by its inability to access the antiviral drug, remdesivir, during the pandemic, as the United States ordered most of the stock.
READ: U.S dollar drops, Currency traders fear increasing COVID-19 caseloads
The EU also disclosed that it will begin a consultation process with pharmaceutical companies next year to address issues in its pharmaceutical value chains. They added that measures could be imposed to encourage manufacturers to move pharmaceutical production to Europe from China and India.
“The Commission calls on member states to ensure that the tools they have are as effective as possible; for instance, by putting in place fast-track procedures for issuing compulsory licenses in emergency situations,” the EU said.
READ: COVID-19: Vaccine Alliance says vaccine might cost a maximum of $40 per dose
They added that it is urgent “to assess whether manufacturing capacity for certain critical medicines may be required in the EU.”
“We need to be able to rely on ourselves, not on others,” the Commission’s Vice President, Margaritis Schinas said. He disclosed that the EU is working on more compliance with drug supply need and increased stock levels by 2022.
What you should know
This comes as surprise considering the EU rejected a World Trade Organization (WTO) proposal last week to waive the intellectual property rights needed for the manufacturing of Covid-19 vaccines. The waiver would have made the vaccine access cheaper for developing nations.
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