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How Zuckerberg lost $5b as Facebook shares crash
Facebook shares plunged Monday as the social media giant faced an onslaught of criticism at home and abroad over revelations that a firm working for Donald Trump’s presidential campaign harvested and misused data on 50 million members.
On Wall Street, Facebook shares skidded 6.8 percent amid concerns about pressure for new regulations that could hurt its business model.
The share plunge erased $5billion from the net worth of Facebook founder, Mark Zuckerberg on Monday.
Calls for investigations came on both sides of the Atlantic after Facebook responded to the explosive reports of misuse of its data by suspending the account of Cambridge Analytica, a British firm hired by Trump’s 2016 campaign.
Democratic Senator Amy Klobuchar and Republican John Kennedy called for Facebook chief Mark Zuckerberg to appear before Congress, along with the CEOs of Google and Twitter.
The two lawmakers said the companies “have amassed unprecedented amounts of personal data” and that the lack of oversight “raises concerns about the integrity of American elections as well as privacy rights.”
Senator Ron Wyden asked Facebook to provide more information on what he called a “troubling” misuse of private data that could have been used to sway voters.
Wyden said he wants to know how Cambridge Analytica used Facebook tools “to weaponize detailed psychological profiles against tens of millions of Americans.”
In Europe, officials voiced similar outrage.
Vera Jourova, the European commissioner for justice, consumers and gender equality, called the revelations “horrifying, if confirmed,” and vowed to address concerns in the United States this week.
In Britain, parliamentary committee chair Damian Collins said both Cambridge Analytica and Facebook had questions to answer.
“We have repeatedly asked Facebook about how companies acquire and hold on to user data from their site, and in particular whether data had been taken from people without their consent,” Collins said in a statement.
“Their answers have consistently understated this risk, and have also been misleading to the committee.”
Alexander Nix is chief executive of Cambridge Analytica, which has denied misusing Facebook data for its work on Donald Trump’s 2016 campaign
Brian Wieser at Pivotal Research said the revelations highlight “systemic problems at Facebook,” but that they won’t immediately impact the social network’s revenues. (NAN)
Digital solutions provider, Globacom, has congratulated Christians in Nigeria on this year’s Easter celebration, and urged them to emulate the noble qualities of Jesus Christ.
The company, in a goodwill message to the Christian faithful in the country, lauded their perseverance through the Lenten period which preceded Easter. It enjoined them to always promote the ideals of selflessness, love and peace among all as a way of demonstrating the virtues of the exemplary life of Jesus Christ.
“Peace, love and sacrifice are the central message of Easter. Christ offered himself in atonement for the sins of the world and he lived a life which made Him an eternal symbol of peace and goodwill for mankind”, Globacom added.
The company enjoined all Nigerians to share in the lessons of promoting selflessness, a necessary ingredient in the growth and development of every society. It also enjoined all Nigerians to join hands to make Nigeria a better place for all.
Easter is celebrated yearly at the end of the Lenten season of fasting and prayer considered as a ritual of purification for the Christian faithful. It also precedes the crucifixion of the Lord Jesus Christ on Good Friday and His eventual resurrection on Easter Sunday.
The company assured its customers of seamless voice, data and Short Messaging Service (SMS) during and after the Easter celebrations, while urging them to avail themselves of the various data and voice offerings on the network.
The Guild of Private Broadcast Managers has extended its heartfelt congratulations to the Nigeria Union of Journalists (NUJ) as it celebrates its 70th Anniversary.
In a congratulatory message signed by the Guild’s National President, Ambassador Patrick Uzoyi-Peters, JP MNGRM, the guild described the milestone as a testament to the NUJ’s unwavering commitment to upholding press freedom, journalistic integrity, and the advancement of democracy in Nigeria.
“For seven decades, the NUJ has played a pivotal role in shaping the media landscape, advocating for the rights and welfare of journalists, and ensuring that the voice of the people remains strong and unyielding. Your resilience, professionalism, and dedication to ethical journalism have been instrumental in fostering transparency, accountability, and national development”.
Celebrating this historic achievement, the Guild’s President, Uzoyi-Peters recognized the sacrifices and contributions of journalists across the nation who work tirelessly to inform, educate, and empower society.
The Guild reiterated it commitment towards collaborating with the NUJ in promoting responsible journalism and strengthening the media industry for the greater good.
While wishing the NUJ continued success, growth, and greater impact in the years ahead, President Uzoyi-Peters prayed that the anniversary serve as a renewed call to uphold the principles of truth, fairness, and press freedom in our collective pursuit of a more informed and just society.
News
Family Marks one-year Memorial of Late APC Chieftain, Ojougboh with Charity Outreach
By Ikenna Oluka
The family of the late chieftain of the All Progressives Congress (APC), Chief Dr. Cairo Ojougboh, led by his wife, Mrs. Bose Ojougboh, marked his one-year memorial anniversary with a series of charitable initiatives aimed at honoring his legacy of philanthropy and service to society.
The memorial activities included the donation of school books and bags to pupils of Erigbe Primary School, in Agbor within the Ika South Local Government Area (LGA) of Delta State, where Dr. Ojougboh had received his early education.
The outreach also included extension of financial assistance to patients at Central Hospital, Agbor, and the provision of toiletries, cash, and food items to children at the Salve Regina Children’s Home, Agbor.
The outreach was carried out under the ‘Dr. Cairo Ojougboh Foundation’, a family-led initiative established to immortalise him and continue his lifelong commitment to education, healthcare, and social welfare.
Speaking during the event which took place recently, Mrs. Ojougboh reaffirmed the family’s dedication to sustaining the ideals of the late APC chieftain, describing him as a man who strongly believed in education and giving back to society.
“We are here to celebrate the life of my husband, Late Dr. Cairo Ojougboh, who passed on a year ago. In his honour, we decided to give back to society. He was a man who valued education and was always willing to help others. It is only fitting that we continue his legacy through acts of generosity,” she stated.
Honouring his passion for education
The first visit was to Erigbe Primary School, where Dr. Ojougboh had received his early education. The Foundation distributed school bags, writing materials, and food packs to the pupils. The family encouraged the pupils to take their education seriously and strive to become responsible citizens.
Supporting patients at Central Hospital, Agbor
At Central Hospital, Agbor, Mrs. Ojougboh and her entourage moved through the medical wards, offering financial support to patients to assist with their treatment costs. The hospital staff and beneficiaries responded with prayers and words of gratitude for the kind gesture.
Reaching out to orphaned children
The outreach team also visited Salve Regina Children’s Home in Agbor where they donated cash, food items, and toiletries to the children.
The Matron of the home expressed her deep appreciation to the Ojougboh family, commending their commitment to sustaining the late politician’s legacy of compassion and social impact.
Dr. Cairo Ojougboh’s enduring legacy
Reflecting on her late husband’s contributions to society, Mrs. Ojougboh emphasised that his legacy of generosity and service to humanity would not be forgotten.
“Dr. Cairo was a selfless man who touched many lives. His contributions to the Nigerian political landscape, his mark in Agbor Kingdom, Delta State, and the country at large, will always be remembered. He may be gone, but his impact will continue to be felt for generations,” she said.
The Dr. Cairo Ojougboh Foundation has pledged to continue supporting education, healthcare, and social welfare initiatives in his memory, ensuring that his vision for a better society lives on.
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