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Tweeters can now decide who replies their tweet – Twitter

While some Twitter users commended this new feature as it is a good way to minimise the vitriol that often characterise social media, others have expressed worries that the feature could allow unverified news to spread unchecked.

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Twitter has announced plans to roll out a new feature that will allow users to decide who replies to their tweets. The new feature is currently being tested globally, but with only selected users in every country. The product will be launched for all Twitter users soon.

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How it works

This feature, which some Twitter followers have described as “Mind your business feature”, will provide users with three options whenever they compose a tweet. See the options below:

“Compose a tweet, and @mention the people you want to talk to. Tap the permission settings, choose who can reply; everyone, people you follow or only people you mention”.

Note that only people that fall within the selected option can reply to the tweet, but everyone can see, like or retweet the conversation.

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(READ MORE: A holistic approach to Nigeria’s power and agricultural sector challenges)

What this could mean

When this feature is fully launched, it could see a lot of transformations in the way people use this social media. Individuals and brands alike can now conveniently interact with selected persons, without having to deal with distractions from other users commenting or distorting the conversation thread.

As tweet chats, fireside chats, and twitter interviews go more viral, this option could allow for more coordinated conversations with only invited participants. Users who want to input their comments could retweet with comments, but their comments would not be directly seen on the twitter thread.

People’s Reactions

While some Twitter users commended this new feature as it is a good way to minimise the vitriol that often characterise social media, others have expressed worries that the feature could allow unverified news to spread unchecked.

Some say it’s a way to stop potential harassers from replying.

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(READ MORE: Suspension of sporting activities has greatly impacted government revenue – Akin Alabi)

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There are also some users who were concerned about how this feature could affect engagements on chats and conversations.

Although this feature could help prevent replies from trollers and prevent harassment, some Twitter users expressed fears that the presence of the retweeting feature could take the trolling and harassment to a whole new level.

Considering the series of reactions and responses to this development, Twitter may choose to take constructive comments into consideration before the eventual launch of the feature.

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Ruth Okwumbu has a MSc. and BSc. in Mass Communication from the University of Nigeria, Nsukka, and Delta state university respectively. Prior to her role as analyst at Nairametrics, she had a progressive six year writing career. As a Business Analyst with Narametrics, she focuses on profiles of top business executives, founders, startups and the drama surrounding their successes and challenges. You may contact her via ruth.okwumbu@nairametrics.ng

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Central banks digital currencies pose a threat against the U.S dollar

In general, digital currencies could weaken the power of U.S. sanctions and the ability of the U.S. Treasury to watch illicit financial flows.

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Central banks digital currencies pose a threat against the U.S dollar.

A new report by America’s biggest bank, JP Morgan Chase, said the U.S dollar is being faced with a major threat as many  central banks’ digital currencies continue to gain traction.

Analysts, including Josh Younger, the head of U.S. interest-rate derivatives strategy and Michael Feroli, the chief U.S. economist, wrote in a report saying this:

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“There is no country with more to lose from the disruptive potential of digital currency than the United States.

This revolves primarily around U.S. dollar hegemony. Issuing the global reserve currency and the medium of exchange for international trade in commodities, goods, and services convey immense advantages.” 

Aditi Kumar and Eric Rosenbach also recently penned an opinion piece for Foreign Affairs in which they noted that “Just recently, America’s arch-rival China became the first major economy to carry a real test of a national digital currency.”

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(READ MORE: Why the strong dollar is giving Nigeria headache)

In general, digital currencies could weaken the power of U.S. sanctions and the ability of the U.S. Treasury to watch illicit financial flows. A digital Chinese currency (yuan) combined with China’s developed electronic payment systems may give China more future influence than it ever bargained for.  

What Nigerians should know about Digital currencies

A digital currency is a cash balance recorded electronically on a store value card or other physical devices, which could someday replace the physical notes of the naira, for instance.

Digital currencies can be decentralized, that is where the control over the cash supply can come from diverse sources. Digital  currencies can also be centralized, where there is a midway point of control over cash supply, just like the way central banks work.

Central banks digital currencies pose a threat against the U.S dollar.

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Although JP Morgan does not see the U.S dollar being overthrown as the world’s reserve currency anytime soon, experts warned that the U.S dollar dominance could weaken. This is because its processing trade settlement and the SWIFT system could make it more vulnerable.

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The American bank continued by saying:

“Offering a cross-border payment solution built on top of a digital dollar would, particularly if designed to be minimally disruptive to the structure of the domestic financial system, be a very modest investment to protect a key means to project power in the global economy,

“For high-income countries and the U.S. in particular, digital currency is an exercise in geopolitical risk management.” 

Federal Reserve Chairman Jerome Powell said months ago that the Federal Reserve was taking a critical view on the issues regarding a digital currency.

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Dollar gains against major currencies

U.S dollar stood firm against major currencies on Monday as fears over rising tensions between America and China over Beijing’s plans to begin

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The US dollar remains king, U.S dollar gains against major currencies, America threatens China with sanctions.

The U.S dollar was up on Monday morning during London’s trading session after protests in Hong Kong yesterday escalated U.S-China tensions.

US dollar stood firm against major currencies on Monday as fears over rising tensions between America and China heightened.

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The American Dollar Index that monitors the U.S dollar against a basket of other major currencies was slightly up 0.02% to 99.945 by 11.10 am Nigerian local time.

What it means: Nigerians hoping to meet a foreign exchange payment obligation, transactions via the dollar to countries like Europe, Japan, would have the need to pay fewer dollars to fulfill such transactions.

(READ MORE:Reports: China may defer loans owed by Nigeria and others)

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Meanwhile, the friendship between the Americans and Chinese has soured lately since the outbreak of the COVID-19 pandemic. US President Trump and President Jinping of China have traded words against each other issues surrounding COVID-19, including accusations of lack of transparency and cover-ups. 

 

American Dollar remains king as stimulus fails to stop global financial market panic,Demand for “Inflow dollars” drive exchange rate to as high as $N420/$1 compared to “Cash dollars”, U.S dollar drops against major currencies, tension rises between America and China, U.S dollar gains against major currencies, America threatens China with sanctions.

Consequently, the U.S. Commerce Department added 33 Chinese businesses to a blacklist on Friday, and some U.S. Senators proposed sanctions on those businesses.

“The biggest concern is the tension between the United States and China, things were already bad, and it is likely to get worse because of the Hong Kong security law. This supports risk-off trades, which is positive for the dollar and the yen,” Tekuya Kanda, the general manager of research at Gaitame.com Research Institute, told Reuters.

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Business News

NNPC discloses basis for employment and managerial progression in the oil firm

NNPC disclosed that academic competence, application of federal character amongst others are part of key consideration in its recruitment process.

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NNPC, Domestic Crude Allocation, Why NNPC’s Duke Oil is quitting London operations for Dubai , NNPC divests stake in four oil wells to NPDC , How NNPC discovered oil, gas deposits in the North , Nigeria to leverage on condensate refineries to be petrol net exporter, How NNPC saved $3 billion from arbitration , NNPC, IPPG donate medical supplies to South West state governments, NNPC discloses bases for employment and managerial progression in the oil firm

The Nigerian National Petroleum Corporation (NNPC) has explained the basis for employment as well as career progression in the state-owned oil firm, using a recent Graduate Trainee employment process and top management promotion exercise as an illustration.

This is coming against the backdrop of criticism in recent times over management appointments and postings, with claims of nepotism, favoritism, and lack of federal character.

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In a press statement  signed by NNPC’s Group General Manager Public Affairs, Dr. Kennie Obateru, the state NNPC disclosed that academic competence, and application of federal character, amongst others are part of key considerations in employment and managerial progression. The statement said in parts:

Unblemished academic competence, logical thinking, ability to engage meaningfully in problem-solving in addition to the federal character are key to becoming an employee of the corporation.

“To progress in the Management cadre, professional competence, accountability, and transparency as well as ensuring national spread in top management positions are critical factors that are not negotiable.”

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(READ MORE: NNPC pipeline vandalism up by 50% in January, may suspend crude oil production)

Explaining the parameters, Dr. Kennie Obateru stated that the basic academic requirement for newly employed Graduate Trainees in the corporation is a minimum of a Second-Class Upper Division or an Upper Credit for Higher National Diploma (HND) certificate holders. Alternatively, a candidate holding a Second Class Lower Division degree or an HND Lower Credit Diploma holder, must in addition have acquired a Master’s degree in a relevant field.

He pointed out that this was applicable in the last recruitment exercise where qualified applicants undertook a computer-based test conducted by a neutral national examination body, following which the best performers were further taken through a formal interview session to ensure their suitability.

Obateru stated that the end product of the rigorous exercise was the new set of employees who have shown a lot of promise since the beginning of the onboarding programme which started earlier this month; including engagements with the Group Managing Director of the NNPC, Mallam Mele Kyari, and some members of top management of the corporation.

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The NNPC spokesperson said the fairness in the appointment of the new employees was such that many of the new employees expressed astonishment at securing employment in the National Oil Company without any godfather.

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It should be recalled that 1,050 graduate trainees were recently recruited by NNPC and assumed duty virtually on Monday May 4, 2020 due to the lockdown caused by the COVID-19 pandemic.

Also, some top management appointments and postings were done in the first week of March this year.

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