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COVID’s Omicron Variant is High Risk — Here’s Are all You Need to Know

Researchers are still learning about Covid’s new omicron variant, but one expert has a stark prediction.
“All the scientists I’ve talked to… are like, ‘This is not going to be good,’” Moderna CEO Stéphane Bancel told the Financial Times on Tuesday.
On Sunday, at least two omicron cases were detected in Canada, marking its arrival in North America — roughly two weeks after the variant was first detected in South Africa, on November 9.
White House chief medical advisor Dr. Anthony Fauci said he “would not be surprised” if omicron is already in the United States, in an interview with NBC’s “Weekend TODAY” on Saturday.
The next few weeks will be telling, as scientists analyze how effective the Covid vaccines are against omicron and countries crack down on testing and tracing to identify where the variant is. The World Health Organization said Monday that omicron poses a “very high” global risk.
In the meantime, multiple states have warned people to stay vigilant. New York City is back to “strongly recommending” masks in all indoor public settings, regardless of vaccination status, Dr. David Chokshi, commissioner of the New York City Department of Health and Mental Hygiene, told reporters Monday.
Here’s What you Need to Know:
Is omicron more dangerous than other variants?
Omicron contains troubling characteristics that might make it more transmissible — particularly among people who have already gotten and recovered from Covid, according to the WHO.
Most notably, the variant contains “a disturbingly large number of mutations in the spike protein,” Fauci told ABC’s “This Week” on Sunday.
The spike protein is the part of the virus that latches onto and penetrates cells in your body, leading to a Covid infection.
Omicron has more than 30 spike protein mutations, compared with the original virus — significantly more than the delta variant. The function of those mutations isn’t fully known yet, but some of them could make it easier for the virus to infiltrate human cells.
The WHO noted on Friday that “infections have increased steeply” in South Africa, in tandem with the discovery of omicron.
Only 24% of the population in South Africa is vaccinated, compared to 59% of the U.S. population.
Still, other countries can expect a similar pattern to unfold as the variant spreads, Fauci said.
Potentially Good News:
So far, omicron hasn’t caused any known deaths, and its symptoms appear to be “extremely mild,” Dr. Angelique Coetzee, chair of the South African Medical Association that discovered the variant, told the BBC on Sunday.
If true, that could mean omicron’s mutations make it more easily transmissible, but less severe. (According to the WHO, there’s no consensus yet that omicron symptoms differ from other variants.)
Do the vaccines already protect against omicron?
It’s too soon to tell — which isn’t reason for panic. It just means scientists are working on finding out.
Given omicron’s plentiful mutations, it could theoretically evade vaccine-induced protection. Bancel said he anticipates a drop in vaccine effectiveness. Researchers will likely have answers within the next two weeks by testing antibodies from people who are vaccinated, and seeing if they are capable of neutralizing the virus.
Even if omicron can evade those antibodies, the vaccines are still likely to protect against severe illness, BioNTech CEO and co-founder Dr. Ugur Sahin told the Wall Street Journal on Tuesday.
because omicron will “hardly be able to completely evade T-cells,” which are the body’s second line of defense against the virus, Sahin said.
Still, President Joe Biden instructed the U.S. Food and Drug Administration and the Centers for Disease Control and Prevention on Monday to use the “fastest process available without cutting any corners,” to make omicron-specific vaccines available, if necessary.
It’s unclear who would be eligible for those vaccines, if they eventually get approved.
Moderna says it’s already working on one, which could be ready to ship by early 2022, if necessary. On Monday, Pfizer CEO Albert Bourla told CNBC’s “Squawk Box” that his company is waiting for more data before acting — but could have its version ready in 100 days.
Non-vaccine treatments could also be a mixed bag. Pfizer’s Covid antiviral pill, Paxlovid — which has yet to be approved by the FDA — might work against variants like omicron, because it’s designed to address spike mutations, Bourla said.
But fellow drugmaker Regeneron said Tuesday that its monoclonal antibody cocktail, along with any other similar drugs, could be less effective against omicron than other variants. The company said it’s exploring other alternatives.
Should you wait on getting a booster until there’s an omicron-specific shot?
No. Get your booster as soon as you’re eligible, regardless of any omicron developments.
Even partial protection is better than no protection, and the longer you wait, the more you risk getting infected by another Covid variant — including delta, which remains dangerous.
Plus, if the current Covid vaccines prove effective against the new variant, omicron-specific shots may never be deemed necessary. Waiting for that answer is a gamble akin to playing “mind games,” Fauci told “Meet the Press.”
In a statement on Monday, CDC director Dr. Rochelle Walensky specifically cited omicron as a reason why eligible people should get their boosters. Since the booster shot lifts your body’s level of antibodies high enough to protect against every other known variant, it should give you “at least some degree, and maybe a lot of protection” against omicron, Fauci said.
What should you do differently to protect yourself against omicron?
Getting vaccinated and boosted, plus wearing a mask in public indoor settings, remain the best ways to protect yourself and the people around you.
“Do not pull back on your guard,” Fauci told NBC’s “Weekend TODAY.”
On Monday, the Biden administration restricted most air travel from South Africa and seven other countries: Botswana, Eswatini, Lesotho, Malawi, Mozambique, Namibia and Zimbabwe.
Travel bans cannot completely prevent the virus from entering the country, but they “delay it enough to get us better prepared,” Fauci said. Lockdowns aren’t currently being discussed, Biden said Monday.
Even if omicron gets bad, it probably won’t undo the world’s Covid-fighting progress.
Tests can easily detect omicron, promising therapeutics like the antiviral pills are on the horizon and scientists know much more about the disease than they did in March 2020, Dr. Ashish Jha, dean of the Brown University School of Public Health, tweeted on Sunday.
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NIA Questions Legality of Reps’ Financial Probe

The Nigerian Insurers Association has urged the House Committee on Capital Market and Institutions to respect the constitutional separation of powers as it carries out a probe on over 20 insurance firms.
In a statement on Tuesday night, the Director General/Chief Executive Officer of NIA, Mrs Bola Odukale, said the decision of NIA and the affected firms to approach the court was to seek clarity on the constitutional limits of the House Committee’s probe.
It would be recalled that the House of Representatives on Monday is investigating no fewer than 25 insurance companies operating in the country for various financial infractions spanning financial reporting, claims settlement, premium remittance, and issuance of policies.
The Chairman, House Sub-Committee on Capital Market and Institutions, Kwamoti Laori, during a meeting with the management of the insurance companies at the National Assembly Complex in Abuja, said the meeting was convened following the receipt of a petition on infractions by the insurance companies.
In the statement, Odukale said, “The Association wishes to state unequivocally that all actions taken by the NIA and the affected member companies in response to the Committee’s invitations and pronouncements were based entirely on legal advice by its Solicitors. It was on the firm instruction of legal counsel that recourse was made to the courts.
“The objective of approaching the Court is to seek judicial guidance on the legality, propriety, and constitutional limits of the Committee’s intervention in order to safeguard institutional integrity, uphold regulatory independence, and ensure that legislative oversight remains within the bounds of law.
“The Court action seeks to determine whether the current posture of the Committee reflects an exercise of legislative judgment, which, by constitutional design, is the exclusive province of statutory regulators, such as the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange, Financial Reporting Council, Nigeria Data Protection Commission, and the National Information Technology Development Agency.
“This raises serious questions about legislative overreach and an erosion of the doctrine of separation of powers, a cornerstone of Nigeria’s constitutional democracy.”
Odukale maintained that the NIA was committed to lawful and constructive engagement with all arms of government, provided that such engagement respects the autonomy of statutory regulators and the boundaries established by the Constitution.
“The NIA will continue to provide its full support to all member companies while upholding the principles of legal compliance and sector-wide integrity,” Odukale concluded.
17 of the companies that went to court were represented by their lawyer, Mr Abimbola Kayode, at the meeting with the committee.
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Horn of Africa Leaders Seek Enhanced Digital Integration for Increased Regional Growth

Finance ministers and development partners from the Horn of Africa have called for enhanced digital integration to boost trade, drive economic growth and promote regional stability during the 25th Ministerial Meeting of the Horn of Africa Initiative (HoAI).
Held in Nairobi, on July 14, the meeting was co-chaired by the African Development Bank’s Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo and Somalia’s Minister of Finance, Bihi Iman Egeh. Discussions underscored the critical role of digital integration in reducing trade barriers, boosting government service delivery and creating employment — particularly for the region’s youth.
“Digital technologies are shaping today’s economy and tomorrow’s industries. By embedding these technologies into our programs, we can not only improve inclusion but also leapfrog outdated development models,” said Nwabufo.
She called for digital integration a “central enabler” in each of the Horn of Africa Initiative’s pillars – trade, infrastructure, resilience, and human capital,
Learning through experience
Drawing from global and regional success stories, speakers highlighted the transformative potential of technology-led development. The ministers pointed to the Philippines as a strong example, where ICT has generated millions of jobs in business process outsourcing. Similarly, Kenya’s fintech innovation—especially the success of M-PESA—was cited as a model for scaling digital financial services across the region.
Participants urged governments to proactively foster digital ecosystems by capitalizing on the demographic dividend, identifying infrastructure upgrades, tighter regulatory reforms, and digital skills trainings as priorities to enable broader participation in the digital economy.
Minister Egeh reiterated the need for more coordinated regional efforts to create the enabling environment required for accelerated digital integration and expansion. He referenced the HoAI Digital Policy Matrix, adopted in 2023 which provides a blueprint on how to address key obstacles to achieving effective digital integration across the region.
Barack Makokha, Kenya’s Cabinet Secretary for National Treasury, underscored the importance of regionally-aligned public private partnerships and advocated for blended financing to reduce investment risk and expand digital access in underserved areas.
World Bank Vice President for Eastern and Southern Africa, Ndiame Diop, called for a comprehensive multi-pronged approach, combining cross-border coordination, large-scale financing, robust policy support, and digital infrastructure investments. He pointed out that such measures could transform digital integration into, “a powerful engine of economic transformation” for the Horn of Africa—ensuring no one is left behind in the digital era.
The meeting concluded with a shared recognition that sustained political will and the determination to implement a multifaceted approach are essential to unlocking the region’s economic potential and driving long-term growth.
The event also welcomed observers from the East African Community, Agence française de développement, and Shelter Afrique, reflecting strong regional and international backing for the HoAI in the development community.
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CSCS Inaugurates Custodian Portal to Enhance Digital Access, Operational Efficiency

Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure provider, has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure and efficient features.
Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday.
The CSCS is a Public Limited Company with a diversified shareholder base, which serves as the Central Securities Depository for the Nigerian Capital Market.
It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN Savings Bond, Equity-traded Funds, Real Estate Investment Trusts, Mutual funds and Commodities.
Jalo-Waziri said that the custodian portal offered a streamlined experience for market participants with powerful tools that facilitate comprehensive portfolio and trade management, document tracking, share transfer operations, client symbol search, and real-time access to vital data.
He explained that the portal, designed to operate through a flexible subscription-based model, empowered users to manage their records effortlessly and securely through convenient payment channels such as GTPay and Paystack.
According to him, “Digital transformation remains at the core of our strategy to enhance the efficiency, transparency and accessibility of Nigeria’s capital market services.
“The custodian portal is a significant leap in that direction, offering custodians a centralised platform to manage critical processes in real-time.
“We are excited about the value this innovation brings to our stakeholders, and we will continue to evolve the platform in line with users’ needs and industry trends.”
The CEO also explained that the portal was designed with user experience in mind with feature tools like portfolio viewing and downloads in PDF or Excel format.
He further said that it also featured tracking of stock movements across date ranges, inbox messaging and request tracking, as well as robust user management capabilities including role assignment and status tracking.
Similarly, the Divisional Head, Business Technology and Digital Innovation, CSCS Plc, Tobe Nnadozie, said that the portal aligned with CSCS’s drive to automate the market.
“In addition to the normal features, the platform is a part of an omnichannel platform for custodians, and includes API services.
“It also connects to the market-wide workflow, which CSCS has built to ensure secured communication and approvals across all major stakeholders in the market.
“The platform is well secured with best-of-breed cybersecurity solutions and our SOC,” he said.
The Custodian Portal reinforces CSCS’s commitment to leveraging technology to streamline back-office functions and support a more agile, data-driven capital market ecosystem.
All custodians in the Nigerian capital market have now been successfully on-boarded on the Custodian Portal, marking a significant milestone in CSCS’s ongoing drive to enhance collaboration, standardise operational processes, and promote digital adoption across the market.
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