Bitcoin (BTC) neared $89,000 in Asian morning hours after a 24-hour low of $86,200, slightly improving market sentiment with major tokens showing signs of a recovery.
XRP and BNB Chain’s BNB led a gradual majors rebound Wednesday as traders continue to reel from Tuesday’s carnage — one that saw overall capitalization drop as much as 10% and at least $1.2 billion in losses on bullish bets.
XRP rose 3%, while BNB and Solana’s SOL added 5%. Dogecoin (DOGE) and Cardano’s ADA showed a slight 1.2% gain, while Tron’s TRX was down 5% in the past 24 hours. The broad-based CoinDesk 20 (CD20) was down 2%.
The move higher was in line with a CoinDesk analysis on Tuesday, as a five-month low in a sentiment index and a large-scale liquidation event indicated assets were likely oversold and could see relief in the short term.
Gold fell 1.3% on Tuesday after a profit-taking bout following a record rally where it touched a new high Monday, but rose higher in Asian morning hours Wednesday.
Macro Outlook
Reasons for Tuesday’s panic ranged from money flowing out of bitcoin ETFs, with over $1 billion pulled out in the last two weeks, to a stronger yen, a perceived safe-haven currency whose growth tends to pull down riskier bets.
Expectations for easier U.S. Federal Monetary policy have surged, however, with prediction markets putting chances of a May rate cut to 30% over the past week, and the chances of two rate cuts by June have more than tripled to 15%.
These hopes come after a gauge of U.S. consumer confidence marked its deepest fall since August 2021, decreasing 7 points in February to 98.3 in its third straight decline. U.S economic data and policies tend to impact prices of risk assets such as bitcoin, as crypto traders bet on expectations of retail participation as idle cash frees up.
Traders Remain Cautious
Hopes of an altcoin rally remain muted among traders, with fresh dollar inflows expected to flow exclusively to BTC.
BTC finally broke out of its range, dipping below 90k for the first time in a month and now hovering just below that level, triggering over USD 200mm in liquidations over the past few hours.
Market sentiment remains under pressure following Trump’s decision to implement tariffs on Canada and Mexico and curb Chinese investment. Front-end gamma was covering as BTC broke lower, with 1M implied volatility now back around 50v, while skews interestingly remain largely unchanged.
“Zooming out, equities, fixed income, and gold have largely shrugged off the data points previously blamed for broader market weakness, with BTC remaining flat,” Singapore-based QCP Capital said in a broadcast message late Tuesday. “Rising BTC dominance and sliding altcoin prices suggest that alt bulls may already be fully long, with any new dollar inflows going exclusively into BTC.”
“We remain cautious. Recent BTC demand has been driven primarily by institutions like MicroStrategy financed through equity-linked note issuances. With crypto-related issuance accounting for roughly 19% of total issuance over the last 14 months, the market for such financing may be nearing saturation — potentially dampening institutional demand if spot continues to stay muted,” it added.
Players like Strategy (previously MicroStrategy) have been the main drivers of BTC demand in the past weeks and months, funding their purchases by raising their stock. But here’s the catch: companies might struggle to justify more purchases since the hype isn’t increasing prices. Less institutional buying could cool off BTC demand and lead to big investors pulling back, affecting the market further.
[CoinDesk]
Dogecoin has fallen below $0.20 for the first time in months, marking a significant drop of over 11% in the past 24 hours. The meme coin is currently trading at $0.201, down 43% over the past month and 72% from its peak of $0.73 in 2021. This sharp decline reflects the broader struggles in the crypto market, with other major cryptocurrencies, including Bitcoin and Ethereum, seeing significant losses of 8.3% and 10.1% respectively. The meme coin sector is not immune to this downturn, with many coins seeing even larger drops.
Solana-based meme coins like Bonk and President Trump's official token (TRUMP) have also dropped by over 14% in the past week. Similarly, the Ethereum-based Pepe coin has been hit hard, continuing the trend of losses in the meme coin market. Meanwhile, Fartcoin, once a token that reached a $2.4 billion market cap, has seen its value plummet by nearly 90%. Currently trading at just $0.29, Fartcoin is no longer part of the top 200 cryptocurrencies by market cap.
The broader crypto market has been in turmoil, with Bitcoin dropping as low as $87,115 and Ethereum experiencing a similar downward trajectory. As of writing, the total market capitalization of cryptocurrencies has dropped 8.8%, falling below the $3 trillion mark. Analysts attribute these losses to various factors, including speculation and uncertainty about future regulations, such as the potential creation of a U.S. national Bitcoin reserve.
Amid the downturn, some tokens have managed to perform better. Popcat and Peanut the Squirrel have seen slight increases, up 1% and 5% respectively. Still, the overall trend remains negative, with significant liquidations occurring. Dogecoin contracts have seen $32.37 million in liquidations, while Trump token contracts have faced $11.39 million in losses.
In light of these recent events, investors are becoming increasingly wary of the volatility inherent in the crypto market, particularly within the meme coin space. The market's unpredictable nature continues to create uncertainty for investors, as seen in the ongoing downturn affecting some of the most well-known digital assets.
Despite the difficult climate, the cryptocurrency market remains dynamic, with fluctuations continuing to shape the sector. The continued volatility underscores the risk involved in digital asset investments and highlights the need for caution in the face of shifting market conditions.
[Coin Market Cap]
On Monday, Apple unveiled plans to invest more than $500 billion in business operations in the U.S., including across fields like artificial intelligence, manufacturing, and engineering.
Although crypto was notably absent in Apple's announcement, some in the industry speculated about a potential move into digital assets: “This level of investment could be the precursor to Apple’s entry into the digital asset space, which may be the product of a more favorable regulatory environment under the Trump administration,” Angus O’Callaghan, XDC Network's Head of Trading and Markets, told TheStreet Crypto.
"Apple has the user reach and technical knowledge to seamlessly enter the digital assets space,” added O’Callaghan.
Apple has not released any details about a possible entry into crypto.
In 2021, Apple CEO Tim Cook admitted he privately invested in crypto, but that the company was far from considering digital assets as part of its corporate strategy: “I think it’s reasonable to own [cryptocurrency] as part of a diversified portfolio,”
Cook said at the 2021 DealBook Online Summit. “I don’t think people buy Apple stock to get exposure to crypto,” he added, clarifying that the company was not integrating digital assets into the Apple payment ecosystem. “It’s not something we have immediate plans to do."
Last year, Bitcoin maximalist Michael Saylor, whose company Strategy (formerly known as MicroStrategy) functions as a proxy for the world's leading digital asset, advised Apple to purchase $100 billion in Bitcoin. The advice went unheeded by the company, with Cook continuing to maintain only personal holdings in crypto.
Meanwhile, Saylor's Bitcoin investment pitch to rival companies like Microsoft also failed, as Microsoft shareholders voted against investing in the digital asset last year.
Following Monday's news, some industry observers also raised other questions about Apple's U.S. investment strategy, suggesting that it may be a broader, calculated effort to align with the America-first aims of the Trump administration, which has castigated American firms promoting innovation abroad rather than domestically.
Apple shares are currently trading at $247.66.
[TheStreet ]
Admittedly, there's cause for concern if you're thinking about buying Bitcoin (CRYPTO: BTC) right now. Bitcoin has dipped below the psychologically important $100,000 price point, and at one point in January, it even fell below $90,000.
However, now is the time to buy Bitcoin at a discounted price before it once again skyrockets in value. Here are three big reasons why you should be adding Bitcoin to your portfolio right now.
Short-term vs. long-term outlook for Bitcoin
If you're a short-term investor, yes, the current situation appears fraught with risk. Bitcoin is only up a modest 2% for the year and has struggled to hold the line at $100,000. At this pace, there's absolutely no way that Bitcoin is going to double in price this year, as many predicted at the outset of 2025.
Even worse, every single bit of incoming macroeconomic news seems to knock Bitcoin lower. The world's top cryptocurrency has been remarkably fragile when it comes to inflation, tariffs, and any news related to monetary or fiscal policy. That shouldn't be happening because, historically, Bitcoin has been completely uncorrelated with every major asset class.
But here's the thing: Bitcoin continues to outperform the crypto market as a whole. Just look at how badly other cryptos are faring right now. Ethereum is down 20% for the year. Solana is down 16% for the year. And highly speculative meme coins such as Dogecoin and Shiba Inu are both down 30% for the year.
Best of all, the long-term outlook for Bitcoin remains unchanged. Cathie Wood of Ark Invest recently doubled down on her $1.5 million price forecast for Bitcoin. She expects Bitcoin to hit that price by the year 2030. She points to the growing integration of Bitcoin into the global financial system, the success of the spot Bitcoin ETFs, and the sound network fundamentals of the Bitcoin blockchain.
Big institutions are buying Bitcoin
There's further room for optimism because large institutional investors are now expanding their commitment to Bitcoin. As they see it, Bitcoin represents an entirely new asset class with its own unique risk-reward profile, and they are looking to add it to their overall portfolio mix. According to BlackRock, the company behind the highly successful iShares Bitcoin Trust (NASDAQ: IBIT), institutions should be allocating 2% of their portfolios to Bitcoin these days.
It looks like many institutions are following this advice. According to recent 13F filings with the SEC, large institutional inventors (those with over $100 million in assets under management) tripled their overall exposure to Bitcoin in the fourth quarter of 2024. As Coinbase Global points out, over 1,000 of these large institutional investors now have exposure to Bitcoin via the new spot Bitcoin ETFs.
That number is likely to soar in the coming years as pension funds and other risk-averse institutional investors become more comfortable with Bitcoin. Moreover, only a smattering of the very largest institutional investors -- the sovereign wealth funds -- have bought into Bitcoin. However, more are coming. In Q4 2024, for example, an Abu Dhabi sovereign wealth fund started to buy Bitcoin for the first time ever.
Is a strategic Bitcoin reserve coming?
I've saved the best for last: There's approximately a 50/50 chance that the U.S. government will create a strategic Bitcoin reserve by the end of the year. If that happens, then the price of Bitcoin could skyrocket. That's because the U.S. government could buy as many as 1 million Bitcoins over the next five years in order to build this reserve. That's 5% of the total circulating supply of Bitcoin and would easily make the U.S. a Bitcoin superpower.
Worldwide, a number of sovereign nations have also announced their plans to start buying Bitcoin. It's easy to see how a steady stream of Bitcoin buying from countries such as Brazil could become a torrent if an economic superpower like China decides to enter the fray. Some analysts have even hypothesized that the U.S. and China might get into a "Bitcoin arms race," as both nations race to accumulate as much Bitcoin as possible.
Keep your eye on the big picture
So ignore the daily drip-drip-drip of bad macroeconomic news. Stop worrying about Bitcoin struggling to hold onto that $100,000 price level. Instead, focus on the long-term outlook for Bitcoin.
It might not soar in value during the first quarter of this year, but by the end of 2025, I'm highly confident that Bitcoin will once again have turned in the same type of triple-digit performance that it did in both 2023 and 2024.
[The Motley]
The Office of the Attorney-General of the Federation and Minister of Justice has urged the Federal High Court in Abuja to dismiss a lawsuit against it, which seeks to compel Multichoice Nigeria to configure its GOtv and DStv decoders to charge Nigerian customers based on actual viewing time (pay-per-view or during viewing).
The AGF, named as the fourth defendant in a lawsuit against Multichoice, the Federal Competition and Consumer Protection Commission (FCCPC), and the National Broadcasting Commission (NBC), contends that the case constitutes an abuse of court process and should be dismissed outright.
The pending lawsuit, filed by Maduabuchi O. Idam Esq. on April 29, 2024 (suit number FHC/ABJ/CS/563/2024), seeks an order compelling Multichoice to allow the rollover of unused subscriptions upon expiration, enabling Nigerian customers to maximize their investment in its services.
What Transpired in Court
At the resumed proceedings on February 19, 2025, before Justice Inyang Ekwo, Multichoice’s lawyer, Moyosore J. Onigbanjo (SAN), informed the court that he was opposing the claimant’s suit against the pay-TV network.
- The judge then asked the legal representatives of the FCCPC and NBC if they had filed any responses in the case.
- They individually confirmed that they had filed counter-affidavits against the claimant’s suit.
- The AGF’s lawyer also confirmed filing a motion on notice against the suit.
Ekwo then asked the claimant, “Have you received all these processes, and have you filed a reply?”
“Yes, my Lord, I have responded,” the claimant answered but added that more court processes (further affidavits) needed to be exchanged, particularly between him and the legal teams of the AGF and NBC.
“I am going to give you a date for the hearing, believing that by then, parties should have filed and exchanged whatever necessary processes,” Ekwo responded.
The judge eventually fixed the hearing date for May 6, 2025.
AGF’s Motion to Strike Out the Suit
- In the referenced AGF’s motion dated October 25, 2024, exclusively obtained by Nairametrics, the AGF urged the court to strike out or dismiss the suit, arguing that the claimant did not disclose any cause of action or omission by the AGF and that there was no connection between the AGF’s office and the lawsuit.
- The AGF’s lawyer, Maimuna Lami Shiru, further argued that the questions raised by the claimant did not reference the AGF’s powers or responsibilities.
“The AGF is not a regulatory body in respect of the subject matter of the claim and has no business in the suit.
“The AGF is not a proper or necessary party to the suit.
“The originating process is premature and defective as it relates to the AGF,” the motion stated.
- The AGF’s office emphasized that it is not a regulator of Multichoice or any other TV network provider in Nigeria and accused the claimant of failing to obtain the court’s permission before filing the suit.
- The AGF’s lawyer maintained that the case was frivolous and should be dismissed.
Backstory
Nairametrics previously reported that after the lawsuit was filed last year, Multichoice’s lawyer, Moyosore J. Onigbanjo (SAN), denied allegations of customer exploitation, through his court processes .
- Multichoice cited factors such as exchange rate fluctuations, rising programming and content costs, and increased electricity tariffs as reasons for its subscription rate adjustments in 2024.
- The FCCPC stated that its mandate focuses on promoting competition and protecting consumers but does not directly regulate business operations.
- The Commission also noted that it had previously investigated Multichoice and that similar cases are currently under appeal.
The NBC stated that before the committee assigned to investigate the plaintiff’s complaint could conclude its work, the Federal High Court in Abuja delivered a judgment declaring that the NBC lacks the authority to investigate or sanction in this context.
What You Should Know
While a verdict on the pending lawsuit is yet to be determined, Multichoice has faced accusations of exploiting Nigerian customers over the years.
- In 2024, a Nigerian tribunal fined Multichoice N150 million and mandated a one-month free subscription for violating interim orders.
- However, Multichoice opposed the ruling, and the case was eventually struck out after a public interest lawyer withdrew the suit.
- Recently, Multichoice notified its customers of another price increase across its DStv and GOtv subscription packages, effective March 1, 2025.
This latest increase comes despite a significant loss of subscribers in the previous year, which the company attributed to multiple price hikes, inflation, and other factors.
[Nairametrics]
Why Obasa Is Yet To Resume At Lagos State Assembly – Lawyer Reveals, Addresses Resignation Plan
Admin
Afolabi Fashanu (SAN), Obasa’s lead counsel, confirmed on Tuesday that they are fully prepared for the February 28 court hearing, despite ongoing political efforts to resolve the Assembly crisis.
Fashanu emphasized that Obasa will not return to the Assembly until a judgment is obtained, arguing that any attempt to resume the speakership before the court’s ruling would be illegal.
Obasa, who was impeached on January 13, 2025, by a majority of lawmakers, filed a suit at the Lagos State High Court in Ikeja, challenging his removal and the emergence of Mojisola Meranda as the new Speaker.
Political Mediation Efforts
The Lagos Assembly crisis has proven difficult to resolve, even for the powerful Governors Advisory Council (GAC). In an attempt to mediate, President Bola Tinubu reportedly assigned Chief Bisi Akande and Aremo Olusegun Osoba, both former governors, to intervene.
Following marathon meetings from Sunday through Monday, reports suggest that the mediating panel recommended that both Obasa and Meranda should step down for another lawmaker from Lagos West Senatorial District.
Additionally, Obasa was reportedly asked to withdraw his court case and voluntarily resign, with the panel expected to brief President Tinubu on its intervention.
Obasa’s Legal Team Unmoved
However, when asked about these reports by The PUNCH, Fashanu denied any official communication regarding a settlement.
He said: “Well, that intervention, for me, is still a rumor because nothing of such has been communicated to us, as the legal team. So, what we all read in newspapers, we don’t even know the genuineness or authenticity of the news on the purported settlement.
“Our client has not communicated anything to us in the nature of withdrawal. So, we are still preparing for the case until otherwise.”
Restating the legal team’s commitment, Fashanu added:“Nothing is certain in life except death. But on our part, we will put in our maximum effort, and we believe he has a very good case. So, subject to the overriding power of the deciding judge, we are good to go.”
No Resignation, No Illegal Moves
A source close to Obasa also dismissed claims that he would voluntarily resign, insisting that “it has not gotten to that level.”
On whether Obasa would return to the Assembly before the court ruling, Fashanu clarified that such a move would be illegal, stating:
“That means he will be taking laws into his own hands, and I don’t think he would want to do that. If he had wanted to do that, I’m sure from day two or day three, he would have done that.”
[NaijaNews]
The United Kingdom Foreign and CommonWealth Development Office in Nigeria through its programme, strengthening peace and resilience, has organised a four-day training workshop for traditional rulers on conflict resolution and mediation
Declaring the training open, Katsina Governor, Mallam Dikko Umar Radda who was represented by the Secretary to the State Government, Barr. Abdullahi Faskari, highlighted the role of the traditional rulers on peace resolution which he said cannot be overstretched.
He said: “We all know that peace is fundamental and significant for socio-economic development in the society and without peace, nothing can be achieved.
”Any attempt to.strengthen the issue of having peace in the society is very significant and important for all of us,as these traditional rulers were the closest to the people and everything starts from there.
“This is surely inherent in their own activities from time immemorial for them to settle people for peaceful coexistence.so attempts to bring about modernisation, new ideas, ways and knowledge that will improve their activities, I think is a welcome development”.
Radda further added that bringing peace in Nigeria is the sole responsibility of everyone and that It is a religious duty for everyone and whoever comes to assist on this regard
Underscoring the importance of the training in Katsina State, the team lead, SPRiNG programme, Dr. Ukoha Ukiwo, noted that considering the laudable contribution of the Nigerian government in maintaining peace especially in Africa, the UK government has indicated interest to promote efforts to restore peace and establish security.
He said: “The interest in Nigeria is because of its important role played especially in maintaining peace and security across Africa and there are concerns all over the world that if Nigeria is not stable, Africa will also be unstable”
“Nigeria is very important to the world that is why the UK government is quite interested in supporting the effort of the Nigerian actors and institutions to address issues that affect peace and security in Nigeria.
“All it has to do is to work with Nigerian stakeholders like you to ensure that we are better even to respond to issues around conflict, security, stability particularly that are also related to access to natural resources in a more peaceful way.
The Training Coordinator, Green Horizon, Prof Muhammed Tabiu, said the programme was aimed at equipping and strengthening the traditional rulers’ skills on mediation as well as basic knowledge of the justice system in Nigeria.
He further added that Katsina State and the rest of the North-West region of Nigeria have become even more important because of the destructions that were brought about by the criminality, banditry and terrorism and that traditional rulers are up to the task if they are equipped with relevant skills, techniques for maintaining law and order and conflict resolution.
He said: “The subject matter is mediation and conflict resolution aimed at sharpening the participant’s skills and to improve their capabilities to make peace, mediate between members of their communities as well as maintain law and order”.
The participants were expected to be equipped with the basic knowledge of the justice system in Nigeria in order to build their confidence especially when interacting with law enforcement agents during conflict resolution ,mediation and family disputes.
The national secretariat of the ruling All Progressives Congress was a beehive of activities on Wednesday morning as governors elected on the platform of the APC and party chieftains trooped in for the long-awaited meeting of the National Executive Committee.
Early arrivals at the meeting include members of the National Working Committee, APC State Chairmen, former governor of Zamfara state, Sen. Abdulaziz Yari, former governor of Kebbi state and Minister of Budget and National Planning, Sen. Abubakar Atiku Bagudu, Deputy Speaker, Rt. Hon. Benjamin Kalu
President Bola Ahmed Tinubu, Vice President Kashim Shettima, Senate President Goodwill Akpabio and Speaker, House of Representatives, and Rt. Hon. Tajudeen Abbas are expected to be in attendance.
As early as 8.30am, there was heavy vehicular movement and party supporters blaring music and displaying APC banners around the party headquarters and neighbouring streets.
Stern-looking security operatives including agents of the Department of State Security were also manned at the entry and exit point of the venue to provide security.
US President Donald Trump unveiled plans Tuesday to sell new “gold card” residency permits for a price of $5 million each — and said Russian oligarchs may be eligible.
Trump said sales of the new visa, a high-price version of the traditional green card, would bring in job creators and could be used to reduce the US national deficit.
“We’re going to be selling a gold card. You have a green card, this is a gold card. We’re going to be putting a price on that card of about $5 million,” Trump told reporters in the Oval Office.
The Republican president, who has made the deportation of millions of undocumented migrants a priority of his second term, said the new card would be a route to highly prized US citizenship.
“A lot of people are going to want to be in this country, and they’ll be able to work and provide jobs and build companies,” Trump said. “It’ll be people with money.”
Sales of the cards would start in about two weeks, Trump added.
“We’ll be able to sell maybe a million of these cards. We have it all worked out from a legal standpoint,” Trump added.
The billionaire former real estate tycoon said that all applicants for the new gold cards would be carefully vetted.
But asked if wealthy Russians would also be able to apply, Trump said it was a possibility.
“Possibly. I know some Russian oligarchs that are very nice people. It’s possible,” Trump said. “They’re not as wealthy as they used to be. I think they can. I think they can afford $5 million.”
A number of Russian oligarchs have been hit by western sanctions since Moscow’s invasion of Ukraine three years ago.
Trump has caused shock in European capitals by suddenly opening negotiations with Russia to end the war, amid fears that he could be willing to sell Ukraine short.
The US president told reporters that lifting sanctions on Russia was possible “at some point” but was not currently on the table.
US Commerce Secretary Howard Lutnick, standing at Trump’s side in the Oval Office, said of the gold cards that “we can use that money to reduce our deficit.”
Trump, who has branded a series of hotels and casinos in a long business career, even suggested the new cards could also be named after him.
“Somebody said, ‘Can we call it the Trump gold card?’ I said, ‘If it helps, use the name Trump,'” he said.
AFP
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“How many seconds do we have?”
“Forty-five!” shouted back Hollywood’s biggest stars, from Timothee Chalamet and Ariana Grande to Ralph Fiennes and Isabella Rossellini.
Just five days before the Oscars, this year’s nominees gathered in Los Angeles on Tuesday for an intimate dinner — and a few words of warning about the length of their acceptance speeches.
Nobody really expects Oscar winners to stick to those exact limits, but it is the job of Academy President Janet Yang to at least try.
“I feel like a schoolmarm,” joked Yang, as she politely requested this year’s crop of movie stars to keep their moments in the spotlight “heartfelt, humorous if you’d like, poignant, inspirational, but brief.”
As if to exemplify the challenge, “A Complete Unknown” director James Mangold arrived several minutes late for the annual nominees “class photo,” which had finally been taken, forcing a hasty reshoot.
“It’s the Mangold edition!” quipped one star, as “Wicked” actors Grande and Cynthia Erivo sat politely, side-by-side and front-and-centre of the group, while “A Complete Unknown” star Chalamet chatted to “Anora” director Sean Baker in the back rows.
In a typical year, the Academy holds a celebratory, champagne-soaked luncheon for nominees and invites press in early February.
This year, it was scrapped in the wake of the devastating Los Angeles wildfires.
Instead, a smaller, scaled-back dinner was held at the last minute, with Yang emphasizing “an atmosphere of support for so many amongst us who are recovering from the fires that devastated large swaths of Los Angeles.”
Still, the event allowed nominees the chance to catch up and swap stories at the end of the lengthy campaign trail.
“Well, here we are!” said Mikey Madison, taking a brief break from chatting to Rossellini.
“I’ve never gone before” to the Oscars, she told AFP. “I’m excited. We’ll see what happens”.
Madison is a favorite to win best actress for her role as a sex worker in “Anora,” up against Demi Moore for gory body-horror “The Substance.”
Moore was concerned that she had not brought her dog Pilaf, a minuscule Chihuahua who accompanied her to the Cannes film festival last May.
“They were expecting her, I should have!” she told AFP.
Fiennes, twice an Oscar nominee in the 1990s without winning, praised a “great crop of movies this year.”
His twisty Vatican-set thriller “Conclave” now appears to be locked in a two-horse race for best picture, Hollywood’s ultimate accolade, with “Anora.”
Insisting the dinner was “good fun,” British actor Fiennes admitted he had been flying back and forth across the Atlantic “quite a bit.”
Indeed, other than excitement for Sunday’s gala, a repeated sentiment among the Oscar nominees was relief that soon the campaigning marathon would be over.
“What am I working on next? I’m working on sleeping for a week,” said “Wallace and Gromit: Vengeance Most Fowl” director Merlin Crossingham.
AFP
Senate President Godswill Akpabio says lawmakers who reclaimed their electoral mandate through the courts are part of the problem of the upper legislative chamber.
Akpabio spoke on Tuesday while announcing that Natasha Akpoti-Uduaghan, lawmaker representing Kogi central, would face disciplinary action over her outburst regarding seat reallocation.
The lawmaker had on February 20 disrupted plenary by rejecting her assigned seat, defying Akpabio’s order and repeatedly raising a point of order despite being overruled.
During plenary on February 25, Akpabio described the altercation as stemming from a lack of understanding of senate guidelines and directed the national assembly management to organise periodic orientation for senators.
“I think part of the problem is when people come from court… court-declared senators; they missed the orientation,” the senate president said.
“The management of the national assembly is hereby ordered to organise periodic orientation, particularly for senators who are midstreamers, who came midstream and did not start when their colleagues started.
“I remember that this particular senator (Natasha), on the day she was sworn in, raised her hand to speak. I was scared, but I had to recognise her, because I was saying we just gave her the rule book.
“Part of what we give to you when you are sworn in is the standing order of the senate. I asked if she opened the rule book to know what to say, but she made a contribution on that day. I think two days later she brought a motion.
“There is nothing wrong in being vibrant, but there is a lot wrong when you don’t know anything about the procedure.”
LAWSUIT
Akpoti-Uduaghan has filed a N100 billion defamation suit against Akpabio.
In the suit filed at the federal capital territory (FCT) high court, Akpoti-Uduaghan alleged that Akpabio and Mfon Patrick, his legislative aide, made defamatory comments against her.
The Kogi lawmaker asked the court to compel the respondents to withdraw the defamatory comments and apologise to her in a national newspaper.
In February 2023, the Independent National Electoral Commission (INEC) declared Abubakar Sadiku-Ohere of the All Progressives Congress (APC) winner of the Kogi central senatorial district election.
Not satisfied with the outcome of the polls, Akpoti-Uduaghan filed a petition seeking to nullify the election over “irregularities”.
The national assembly petitions tribunal upheld the prayers of the PDP candidate and nullified Sadiku-Ohere’s election.
The court of appeal in Abuja later affirmed Akpoti-Uduaghan as winner of the election.
In November 2023, she was sworn in as the senator representing Kogi central.
[TheCable]
Communique Issued At The End Of The Monthly General Meeting Of The Afenifere Held At The Country Home Of The Leader, Chief Ayo Adebanjo At Isanya Ogbo Ogun State On Tuesday 25Th Day Of February 2025
Admin
1. 000 PREAMBLE.
The Afenifere held its regular monthly General Meeting today, the 25thday of February 2025, at the country home of the late Leader, Chief Ayo Adebanjo at Isanya Ogbo, Ogun State.
The Meeting which was attended by delegates from the six South West states, Kogi, Kwara and the Itsekiri of Delta State Resolved as follows:
2.00 RESOLUTIONS.
2.01 On the Transition of The Afenifere Leader, Chief Ayo Adebanjo:
2.02 Delegates were formally briefed of the demise of The Leader, Chief Ayo Adebanjo. The Meeting proudly acknowledged the enviable contributions of our late Leader to nation-building as reflected by the glowing tributes in his memory from all walks of life within Nigeria and the world over.
2.03 Meeting commiserated with the children and the immediate family members of our Leader and applauded them for their untiring courteous engagement of large number of people who daily throng the Lekki Lagos and Isanya-Ogbo Ogun State residence of our great Leader.
3.00 APPOINTMENT OF OBA OLADIPO OLAITAN AS THE NEW LEADER OF AFENIFERE.
3.01 Meeting considered the recommendations of the National Caucus and approved the appointment of Oba Oladipo Olaitan as the new Leader of Afenifere.
3.02 Oba Olaitan was called to the Nigerian Bar as a lawyer in 1971, a Political Adviser to Governor Lateef Jakande and member of the Lagos State Executive Council 1979 – 1983; elected Member House of Representatives and Leader of AD in the House 1999 – 2003. He has been a member of Afenifere for over 45 years serving in various capacities including the National Financial Secretary under the leadership of Chief Reuben Fasoranti and Deputy Leader under Chief Ayo Adebanjo.
3.03 Oba Olaitan will function as the Leader in acting capacity till after the final burial of Papa Ayo Adebanjo when he will assume the office as substantive Leader.
3.04 In his acceptance speech the new Leader committed himself to the ideals of Afenifere as a social political organisation and unrelenting advocate of restructuring and true federalism adding that he would ensure the unity of the organisation.
4.00 ON SECURITY
4.01 Afenifere decried the worsening security situation in the country. Members received reports of a young man, Prince Eniola Ojajuni, the videos of whose ordeal, in the den of kidnappers have been on social media for almost a week.
4.02 The Meeting called on the governments of Ondo and Kogi States around which common boundaries the kidnapping was reported to have taken place and the relevant security agencies to act without further delay and ensure the rescue and safety of the young man.
5.00 ATTENDANCE
5.01 Delegates in attendance include 1. The Leader, Oba Oladipo Olaitan 2. Senator Femi Okunrounmu 3. Senator Gbenga Kaka, former Deputy Governor of Ogun State 4. Pekun Awobona, 5. Chief Tola Mobolurin, 6. Tokunbo Ajasin, 7 Engr. Bayo Adenekan, Hon Leke Mabinuori, Olayemi Olajuyinu; Canon Goke Omigbodun, Olu Pessu, Chief Olusegun Olawoyin
Chief Sola Ebiseni
Secretary General
Justice Faloye
National Publicity Secretary.
Crypto traders are feeling the jitters today.
The widely-watched Crypto Fear and Greed Index, a market indicator that uses social media posts, volatility, trends and prices to gauge trader sentiment, dropped to a five-month low of 25 in its latest update.
That’s a big fall from yesterday’s figure of 49, landing it in the “extreme fear” zone, coming as overall market capitalization fell 10% in the past 24 hours as bitcoin and major tokens such as Solana (SOL) and xrp (XRP) fell more than 14%.
The Fear and Greed Index measures how people feel about crypto on a scale from 0 to 100. A low number, like 25, means fear is taking over, while a high number shows excitement or greed. Tuesday’s drop from 49 to 25 is one of the sharpest since September and indicative of a quick shift toward overly bearish sentiment.
Reasons for the panic range from money flowing out of bitcoin ETFs, with over $1 billion pulled out in the last two weeks, to the general lack of catalysts to sustain a run that started with crypto-friendly Republican Donald Trump’s win in the November elections.
Elsewhere, Nasdaq futures pointed to continued losses in technology stocks ahead on Tuesday, and strength in the Japanese yen is sparking fears of an August-like risk aversion.
There’s hope for bulls, however. Extreme fear can be a sign that investors are too worried, turning into a buying opportunity in the short term as assets are considered oversold. Some traders also say poor U.S. economic data could mean central banks are forced to take steps to recharge the economy — a move that may eventually fuel a rally.