News
Energy Conservation: A Crucial Process for All
By Okoko Chidozie Christian
[email protected]; 090215179984
Energy plays the most important role in the economic growth,poverty eradication and security of any nation.
You might be wondering how simple it is in making conscious decision to use less energy.
But, when we lower our energy use; we slow down fossil fuel depletion thereby clean up our environment and save money for ourselves.
However, fossil fuel is a non-renewable source of energy that is created deep down with the earth’s surface over the course of millions of years.
Inevitably, we will run out of them at some point upon reliance as our primary source of energy.
These fossil fuelsnegatively impact the environment when we burn them creating an incredible amount of greenhouse gas emissions such as carbon-dioxide, methane, water vapour, nitrous oxide to mention but a few.
However, these gases such as carbon-dioxide, add up faster than the atmosphere can absorb, then prevents earth from maintaining a stable temperature properly.
For example, coal when burn, leads to carbon-dioxide emission that contributes to global warming, acidic rain, smog and soot which is limited to congenital disabilities, cancer and other severe health-related conditions.
As such, we must begin limiting our energy consumption because the faster we turn through these non-renewables sources; the more time we have to develop alternative energy solutions.
Today, uninterrupted energy supply is an important issue for all countries helping to supply a wide variety of critical loads, in situations of power outage or anomalies of the mains.
The applicability of such system can be found in distributed generation, micro grids and renewable energy systems.
Hence, the future economic growth of any country will crucially depend on the long-term availability of energy from sources that are affordable, efficient and environmentally friendly.
Meanwhile, it is difficult to grasp the amount of energy consumed worldwide.
To illustrate this, the global annual energy consumption corresponds to the energy released from the Hiroshima nuclear bomb energy every four seconds which is about 1.5 x 1013 joules of energy.
Energy remains an important factor in all sectors of any country’s economy;and enhances the provision of basic needs like cooked food, piped water, essential health care services, educational aids, communications, transportation and lots more.
Research reveals that security, climate change, and public health are closely related to energy, but inability to access these energieswill lead to poverty, deprivation and possibly economic decline.
Moreover, energy conservation is a crucial process that everyone should adopt because it helps protect the natural environment and greenhouse gas emission mitigation.
This could be achieved when you apply better ways of using the same amount of available energy to perform more useful work. It will also help in reducing the need for non-renewable source of energy.
Fortunately, we can minimizethese greenhouse gas emissions by reducing the use of energy in our homes.
This simple act of energy conservation can help slow global warming which allows for lower impacts on mental health, injuries and fatalities caused by severe weather; improve air quality and reduce air borne allergens leading to a reduced risk of cardiovascular and respiratory issues.
Conservation of energy can be defined as “the prevention of wasteful energy use”.
For example, turning off the light in room that are not currently occupied, using a programmable thermostat, walking instead of driving among others.
Since energy conservation entails reducing wasteful energy consumption by using fewer energy services, you can agree with me that improved efficiency through technological upgrade, improved operation and maintenance, changing user’s behaviour, monitoring appliances, and providing energy-saving recommendation among others will be a crucial process that everyone should adopt.
Energy crises as essential disruption in economy’s supply of energy resources has deepened in most developing economies due to the rapid exhaustion of non-renewable energy sources such as natural gas, oil and coal among others.
But, there are various reasons behindit such as increased population growth, no renewable resource options,increased in price of products, increased global warming, energy waste and unequal distribution of wealth to mention but a few.
Transition to renewable resources can be one of the best solutions to eliminate world’s reliance on non-renewable resources while improving overall conservation efforts.
According to the Law of Thermodynamics in Physics, “energy is neither created nor destroyed, but merely change forms.”
For example,changing potential energy to kinetic energy, chemical energy to mechanical energy and so forth.
Perhaps, it is easier to talk about what energy allows us to do.The story of energy never ends because energy can never be used up; it is said to be conserved.
Omniverse Africa has disclosed that UEL Esports Inc., Unanimous Games and Game Evolution Esports will be premier partners for the Gaming Center at Omniverse 2025.
Charles Emembolu, co-convener of Omniverse Africa
This significant partnership will play a crucial role in delivering an exceptional gaming experience, highlighting Omniverse Africa’s dedication to innovation and excellence within the digital and creative ecosystems.
UEL Esports Inc., renowned for its one of a kind, multi genre gaming league, cutting-edge advancement and visionary contributions, will be integral in shaping the Gaming Center, promising an immersive and dynamic environment for all attendees.
Additionally, Game Evolution will serve as the gaming ecosystem and delivery partner for the center, ensuring top-tier experiences and seamless execution.
In a major highlight of this collaboration, an exhilarating gaming tournament will be featured at the Gaming Center.
This tournament, expected to be a central attraction of Omniverse 2025, will offer participants the chance to compete for a staggering prize pool of up to $1 million.
Nigerian gamers will have the opportunity to vie for these substantial rewards and gain invaluable experiences that could propel their gaming careers to new heights.
Charles Emembolu, co-convener of Omniverse Africa, commented: “We are thrilled to partner with UEL Esports Inc., and Game Evolution towards the Omniverse 2025. This collaboration aligns with our vision to create a transformative and engaging gaming environment. We are excited to witness the innovation and talent that will unfold through this partnership.”
Hannatu Musa-Musawa, minister of Arts, Culture, and Creative Economy, stated, “Omniverse Africa has taken a bold step to position Nigeria as a global leader in gaming by launching this major league with partners from Nigeria and USA. The Ministry stands behind this vision, and we look forward to fostering partnerships that will strengthen our creative economy and provide new opportunities for our youth,”
Briant Biggs, CEO of Unanimous Games, USA, added, “This partnership offers an exciting opportunity to inspire and empower gamers globally. Omniverse 2025 is the perfect platform for this mission.”
Titus Walker, CEO of UEL Esports Inc., also stated that’ “Becoming the premier partner for the Gaming Center at Omniverse 2025 is a remarkable opportunity for UEL Esports Inc. We look forward to showcasing our latest innovations and contributing to an exceptional event that will set new standards in the global gaming industry.”
Kunmi Adebimpe, founder of Game Evolution Esports, commented: “As the gaming ecosystem and delivery partner for the Omniverse Africa Gaming Center, Game Evolution is committed to bringing unparalleled experiences to the forefront. We are excited to collaborate with Omniverse Africa, UEL Esports Inc. and Unanimous Games to elevate the gaming experience and provide a platform for gamers to shine, globally.”
Omniverse Africa, Africa’s premium platform for integrating digital and creative ecosystems across the continent, will host its annual summit in Lagos, Nigeria, in February.
The synergy between UEL Esports Inc., Omniverse Africa, Unanimous Games and Game Evolution promises to make Omniverse 2025 an extraordinary event, celebrating talent and innovation in the gaming world.
Stay tuned for more updates on the tournament and how to participate, collaborate, compete or partner. The Omniverse Africa Summit 2025 promises a thrilling experience for gamers and enthusiasts alike.
FBN Holdings Plc has announced the sale of its 100 per cent equity stake in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP.
A statement filed with the Nigeria Exchange Limited by the Acting Company Secretary for FBN Holdings, Adeware Arogundade on Friday stated that the move comes after a competitive bidding process, with EverQuest Acquisition LLP a consortium comprising Custodian Investments Plc, Aion Investments, and Evercorp Industries emerging as the preferred bidder.
FBNQuest is the unified brand identity for the merchant banking and asset management businesses of FBN Holdings.
EverQuest Acquisition LLP is a consortium of three companies, including Custodian Investments PLC, Aion Investments Limited, and Evercorp Industries, founded in June 2024.
“By the Nigerian Exchange Limited Rulebook, we at this moment notify the Nigerian Exchange Limited and the investing public that FBN Holdings Plc has entered into a Share Sale and Purchase Agreement to divest its 100 per cent equity stake in its wholly owned subsidiary, FBNQuest Merchant Bank Limited. This sale aligns with the company’s strategy to optimise its portfolio within the group.
“Following a competitive bid process, EverQuest Acquisition LLP (comprising Custodian Investments PLC, Aion Investments and Evercorp Industries) was selected as the preferred bidder. The completion of the sale is subject to approvals from the relevant regulatory authorities,” the holding firm added.
The company disclosed the development through a share sale and purchase agreement, highlighting that the transaction was subject to approval by the relevant regulatory authorities.
FBN Holdings emphasised that the divestment aligned with its broader strategy to streamline its portfolio for enhanced growth and focus across the group.
FBNQuest Merchant Bank’s gross earnings for 2023 rose by 43.1 per cent year-on-year to N35.5bn.
The Kansas Attorney General’s Office successfully thwarted an attempt by Bimbo Toyin Akinyemi, a Nigerian national, to defraud a Kansas resident of cryptocurrency.
This was revealed in a statement titled, “State of Kansas, U.S., Thwarts Attempt by Nigerian Crypto Scammer to Defraud Resident, Attracting Over $50,000 in Civil Penalties.”
BitKE, known for reporting on Bitcoin, crypto, and blockchain activity in Africa, disclosed the news on Monday via its X handle #BitcoinKE.
According to the Attorney General’s Office, Akinyemi promised the victim a large return for investing in cryptocurrency. Court documents show that Akinyemi entered into a contract with the unnamed victim on 15 July 2023, where the victim was to purchase Bitcoin and deposit it into Akinyemi’s ‘investment wallet address,’ with an expected return of $500 to $1,240.
Akinyemi exploited the victim’s lack of understanding of cryptocurrencies, misleading them by concealing the traceability of fund transfers and falsely claiming that depositing funds into a digital wallet would ‘activate’ it as an investment account. After receiving the deposits, Akinyemi transferred the funds to his own account.
A fraudulent $1,000 cheque was then sent to the victim, which was never cashed. The Kansas Attorney General’s Office stated that the victim is entitled to a refund of their $250 investment, and Akinyemi is responsible for $50,000 in civil penalties for five violations, $4,000 in investigation fees and expenses, and all court costs.
The Charities and Financial Scams Unit of the Attorney General’s Office filed a lawsuit against Akinyemi under the Kansas Consumer Protection Act.
Authorities seized Akinyemi’s wallet, which reportedly contained half of a Bitcoin valued at over $28,900, as well as other digital currency worth more than $4,000.
A local judge issued a default judgment against Akinyemi after they failed to respond to the summons and petitions sent to their email address. In addition to the financial penalties, Akinyemi has been prohibited from engaging in consumer transactions within the state.
“Cryptocurrency is a borderless asset that allows international scammers to target and defraud Kansans from the comfort of a keyboard,” said First Assistant Attorney General Nathanial Castillo.
“Scammers realise they have a better chance of getting away with fraud if they convince victims to send cryptocurrency. Kansans should always thoroughly scrutinise anyone they meet online before sending payment in cryptocurrency.”
The U.S. Department of Justice (DoJ) and the FBI were also part of the investigations.
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