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Tesla, X and Space X CEO has dropped the latest remarks on what he personally feels about cryptocurrency and its potential after taking a long break from discussing crypto-related matters.
Elon Musk who was an avid supporter of the concept of cryptocurrency in its earlier days has taken a slight Hiatus on crypto-related matters.
That ended recently with the multi-billionaire making a recent comment on crypto saying that it plays a crucial role in promoting individual freedom and countering centralized control.
Elon Musk commented on cryptocurrencies during a town hall discussion in Pittsburgh on Sunday revealing the role he thinks Cryptocurrency plays in society.
The X owner explained his opinion in response to a question on the potential for XRP Ledger integration in financial institutions, particularly amid the U.S. Securities and Exchange Commission (SEC) scrutiny.
Elon Musk provided a broad answer to that niche question stating what he feels about crypto in general and not XRP alone.
“ I do think that cryptocurrency is an interesting and probably valuable Bulwark against centralized control”
Musk clarified that his statement was not an endorsement or Lack of endorsement of XRP but rather he believes that crypto by its nature helps with individual freedom.
XRP vs SEC
XRP and its parent company Ripple Labs have been in the midst of a major showdown with the United States Securities and Exchange Commission (SEC) under Gary Gensler. The Legal tussle began in December 2020 and it circles around the accepted status of the XRP token.
The SEC in its case alleges that Ripple’s sale of XRP constituted an unregistered securities offering, claiming the company raised $1.3 billion through these sales.
Ripple Labs the parent company of XRP has consistently argued that XRP is a cryptocurrency, not a security, and thus falls outside the SEC’s regulatory scope.
The SEC recently filed an appeal challenging parts of a 2023 ruling in favor of Ripple Labs.
XRP supporters were excited about Musk mentioning XRP.
Ripple CEO Brad Garlinghouse in reaction to Musk’s comments expressed similar views on the importance of cryptocurrency, particularly XRP.
He tweeted that Voters care about crypto and XRP too. He explained that the crypto debate was not a niche issue and that people want clear policies that drive growth and jobs.
What to Know
- Elon Musk is one of the world’s richest men who have shown admiration and has ties to cryptocurrency. His company Tesla holds significant amounts of Bitcoin and recently transferred $765 million worth of Bitcoin to new wallets.
- Elon Musk was a heavy Promoter of the meme coin Dogecoin in its early days. However, the Token has dropped by over 80% from its all-time high.
[Nairametrics]
Naija News reports that Fagbemi’s remark comes amidst the recently enacted Anambra State Local Government Administration Law 2024, which Governor Charles Soludo argued was necessary due to the complexities surrounding absolute local government autonomy.
Soludo said, “Absolute autonomy for the 774 local government areas in the country is unrealistic and could cause disorder if not carefully structured.”
Speaking in Ado Ekiti on Tuesday during a media chat, Fagbemi stressed that the apex court’s decision is binding and non-negotiable.
According to him, all parties must comply with the court’s ruling, noting that the speculation of a three-month grace period for the ruling’s implementation is false.
Dismissing any attempt to amend the Supreme Court’s ruling, the AGF said. “Are they going to rewrite the judgment of the Supreme Court? Once we have the full details of their law, we will act accordingly.
“There is no such moratorium. The judgment was passed, but we acknowledged the need to establish certain frameworks before full implementation. Nonetheless, implementation is compulsory, and no one can avoid it.”
Fagbemi also warned that any state attempting to disregard the Supreme Court ruling would be in contempt.
He added, “I am aware that one or two states are heading in that direction, but they must understand that there is no moratorium for anyone. The judgment will be enforced.”
[NaijaNews]
There are strong indications that authorities in charge of the Force Criminal Investigation Department (FCID), Alagbon, Lagos State, may have gotten detention order from a court to keep controversial cross-dresser, Okuneye Idris, otherwise known as Bobrisky, in its custody pending the outcome of investigation.
Bobrisky who was arrested on Monday by officers of the Nigeria Immigration Service at Seme border, in Badagry, while attempting to flee the country, was handed over to operatives from FCID Annex, Alagbon.
A senior police source told our correspondent that the police has approached a court to grant them order to hold on to Bobrisky.
“We have gone to court to get a detention order from a court to keep Bobrisky pending the outcome of investigation or further directive from higher authority,” the source who does not want his name in print said.
Daily Trust had reported that Bobrisky was arrested at Seme while he was trying to flee the country.
After his arrest, he was taken to the office of the Controller of Immigration, Seme Area Command, where he stayed till Tuesday before he was moved to Alagbon under armed escort.
His arrival at FCID also created a mild drama, according to another police source who said officers went to have a glimpse of him in one of the offices where he was kept before he was taken to the office of the Assistant Inspector General of Police (AIG), in charge of FCID.
He was interrogated briefly by detectives upon his arrival.
[DailyTrust]
Jigawa State Governor Umah Namadi has put the current death toll in the tanker explosion in the state at 181, with another 80 persons in critical condition in hospital.
Namadi who was at the Presidential Villa on Tuesday to brief President Bola Tinubu on the situation, revealed that a total of 210 families were affected by the inferno.
Recall that the incident occurred on Tuesday, October 15 when a truck carrying petrol, travelling from Kano to Nguru in Yobe State, exploded in Majia, located in the Taura LGA of Jigawa State.
The incident resulted in the immediate death of over 100 individuals and injuries to many others who were scooping fuel.
The governor said the state has already established a high powered committee under the chairmanship of a retired DIG to investigate the remote causes of the incident and then advise the government on what to do.
Speaking to State House correspondents, Namadi said, “The situation as at today is that we have about 181 people that died and about 80 people in the hospital and about 210 families affected by this.
“I came here to brief Mr President about what happened to us, the tragic incident that happened in Jigawa State which claimed a lot of lives.
“We felt it is important to come and brief Mr President on what we are doing as a government and also to thank him for sending a delegation immediately this incident happened.
“Of course, the state government has taken the medical bill of all the affected people. We have done a lot of intervention to the families, to ensure that they continue their livelihood, and also Mr President has promised to intervene and assist the victims.
“The state government has already established a high powered committee under the chairmanship of a retired DIG to investigate the remote causes of that incident and then advise the government on what to do.
“You should also remember that Mr President has given a directive immediately to the Corps Marshal that he should investigate this matter, and he should come up with a permanent solution to this problem in this country.”
[DailyPost]
The Peoples Democratic Party (PDP) faction led by Bauchi Governor Bala Mohammed has filed a suit seeking for an exparte order to hold the party’s National Executive Council (NEC) meeting.
The suit was filed at the Zamfara High Court. Justice Salim Ibrahim will hear the exparte motion in Gusau
The group wants to ignore Federal High Court Abuja order barring the party from removing its acting national chairman Damagum.
Justice Salim Ibrahim is the judge whose court in Gusau is hearing the exparte motion.
Details Shortly…
A bill seeking the alteration of the 1999 Constitution to create a new Oyo State passed its second reading in the House of Representatives on Tuesday.
According to the sponsor of the bill, Akeem Adeyemi, the proposed state will have Oyo town as its capital city.
Leading the debate on the general principles of the bill, Adeyemi, who represents Oyo Federal Constituency in Oyo State, stated that the agitation for the creation of New Oyo State is not entirely new, adding that “The 2014 national conference held in Abuja recommended in its final report the creation of New Oyo State with Oyo town as its capital.”
He said, “It’s noteworthy that the present Oyo State deserves to be split into two, being the largest state in terms of landmass in the South-West geopolitical zone, with 33 local governments and a population of 5,580,894 people (2006 census). The New Oyo State, when created, will have all the factors to be economically and politically viable and sustainable.”
He listed vast agricultural and water potentials, mineral resources including gold, kaolin, and limestone, as well as tourism, as some of the endowments that would give the proposed state a head start when created.
He continued, “The call to make Oyo town the capital of the proposed New Oyo State is justified considering the physical administrative and government facilities currently situated in Oyo town. Oyo metropolis is the repository and citadel of the linguistic and cultural heritage of Yoruba land, the seat of the old Oyo Kingdom, which encompassed the original provincial setup of the colonial masters from which Ibadan Province was carved out in 1936.
“The Erelu Dam in Oyo metropolis supplies water to the four local government areas in Oyo zones and is the second largest water reservoir in the present Oyo State. The Government Reservation Area in Oyo metropolis is one of the first and largest GRAs to be established in the country and could serve as a temporary Government House for the proposed New Oyo State.
“There are 14 functional branches of ministries, parastatals, and agencies of the present Oyo State Government in Oyo metropolis, which could be effectively used as take-off offices for the proposed New Oyo State. Oyo town is the only provincial headquarters in the federation today that has not become a state capital, hence the call for balancing of this national equation.
“In terms of security, the Nigeria Police Area Command in metropolitan Oyo, which covers 14 of the 19 local governments in the proposed New Oyo State, can effectively serve as the Police Headquarters of the State Command in the proposed state.”
He also added that the Federal Medium Security Prison is currently situated in Oyo town.
The bill is expected to be subjected to a public hearing ahead of the third reading and concurrence by the Senate.
[Punch]
Some countries, grappling with economic challenges, are home to some of the world’s poorest people, where poverty remains a pressing issue.
Spotlighting the nations with the largest populations living in extreme poverty sheds light on the magnitude of the challenge and the need for sustainable economic reforms to change the narrative in the affected countries.
These figures, as per the latest report from the United Nations, illustrate the ongoing struggles faced by communities and emphasise the need for a closer examination of the factors contributing to poverty in different regions.
Here are the top 5 countries with the poorest people in the world:
India
India has the largest number of people living in extreme poverty, with approximately 234 million individuals affected in a population of 1.4 billion. Despite some economic growth in recent years, a substantial portion of the population remains vulnerable.
Factors such as unemployment, inadequate access to healthcare, and educational disparities contribute to the persistence of poverty in both urban and rural areas.
Pakistan
Following India, Pakistan has about 93 million people living in extreme poverty. With a population of over 240 million, many Pakistanis face challenges such as inflation, limited access to education, and health services.
Political instability and economic hardships further exacerbate the situation, leaving many families struggling to meet their basic needs.
Ethiopia
Ethiopia is home to over 130 million people with almost 67 percent [83 million] of that population living in acute poverty.
Despite progress in recent years, including improvements in agricultural production and access to education, the country still grapples with food insecurity and the impacts of climate change.
Droughts and other environmental challenges can severely disrupt livelihoods, pushing vulnerable populations deeper into poverty.
Nigeria
Nigeria, with approximately 74 million individuals in extreme poverty, is the most populous country in Africa.
Economic challenges, including high unemployment rates, and a crippling economy, contribute to widespread poverty.
Additionally, high levels of corruption, conflicts, terrorism, and widespread carnage in various regions hinder development efforts and disrupt access to essential services, leaving many without adequate support.
Democratic Republic of the Congo (DRC)
The Democratic Republic of the Congo has about 66 million people living in extreme poverty. Despite its vast natural resources, the DRC faces ongoing political instability, conflict, and corruption, which significantly impede economic growth and development.
Many Congolese lack access to basic services such as clean water, education, and healthcare, perpetuating the cycle of poverty.
The Economic and Financial Crimes Commission, EFCC, has raised the alarm over the threats posed by cybercrime, revealing that Nigeria lost more than $500 million to the criminal activity in 2022.
Chairman of the anti-graft agency, Ola Olukoyede spoke during a National Cybercrime Summit in Abuja on Tuesday.
“As a matter of fact, the research I did earlier this year confirmed that cybercrime has become the third largest GDP in the world with approximately 2,328 cases occurring daily.
“The implication of all this is that if left unchecked, cybercrimes portend grave dangers to the entire world.
“Bringing it to Nigeria, in 2022 alone, Nigeria lost over $500 million to cybercrime,” he said.
The chairman of the EFCC noted that cybercrime constitutes a significant percentage of the convictions recorded by the agency since he took office a year ago.
However, Olukoyede revealed that the agency has made plans to rechannel the energies of young people who are mostly perpetrators of cybercrime.
A Federal High Court sitting in Kano has disqualified the chairman and members of the Kano State Independent Electoral Commission, KANSIEC, from conducting the scheduled local government elections in the state.
The court ruled that the KANSIEC chairman and other members of the Commission are card carrying members of the ruling New Nigeria Peoples Party, NNPP, and also are not civil servants above grade level 14.
This is coming barely four days to the Kano LG elections, scheduled for Saturday October 26, 2024.
The court presided by Justice S.A Amobede made the declaration while delivering judgement in a suit filed by Aminu Aliyu Tiga, an All Progressives Congress, APC, member against KANSIEC, the state Attorney General and Commissioner for Justice, Barrister Haruna Isa Dederi, and 14 others.
According to him, “The defendants being card carrying members of the New Nigeria People Party (NNPP) and in partisan politics contrary to the Section 197 (1) (b) and Section 200 (1) (a) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and Section 4 of the Kano State Independent Electoral Commission Law 2001, are not qualified to be the Chairman and Members of the of the Defendant, (KANSIEC).”
The judge further ruled that “Kabir Zakirai, the Secretary of the Commission, not being an officer in the Kano State Civil Service not below the rank of Director prior to his appointment as Secretary of the Commission, is not qualified to be appointed to the position pursuant to Section 14 of the Kano State Independent Electoral Commission Law 2001”.
The judge added that “the 1st Defendant (KANSIEC) whose composition of members was made in contravention of constitutional provisions of Section 197 (1)(b) and Section 200 (1) (a) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and Section 4 of the Kano State Independent Electoral Commission Law 2001, cannot validly and competently conduct Local Government Election 2024 in respect of 44 Local Governments in Kano State until and unless qualified persons are duly and legally appointed as chairman and members of the commission in line with relevant extent law.”
Justice Amobede further ruled that whatever the Commission “did or has done or is doing in preparation of 2024 Local Government Election in Kano State such as issuance of election guidelines, circulars, screening of candidates, sale of nomination and expression interest forms whichever and howsoever are null and void and of no effect whatsoever”.
“The defendants are forthwith disqualified and removed from their positions as chairman and members of the Commission.
“The 1st defendant (KANSIEC) is forthwith restrained from conducting 2024 Local Government Election in respect of 44 Local Governments in Kano State until and unless qualified persons are duly appointed.
“The defendants are mandated forthwith not to participate and monitor the conduct of Local Government Election 2024 in Kano State until and unless the provisions of sections 197 (1) (b), 199 (2) and 200 (1) (a) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and sections 4 (b) and 14 (1) of the Kano State Independent Electoral Commission Law 2001 are fully complied with in the appointment of qualified persons as Chairman and Members of the 1st Defendant,” the judge added.
Justice Amobede directed the Police and other security agencies to forthwith ensure full compliance with the ruling.
A Deputy Comptroller of the Nigerian Correctional Services, NCoS, Emby Anukwara, has disclosed that crossdresser, Idris Okuneye, aka Bobrisky, was kept in a ‘privilege cell’ during his jail term in Kirikiri Prison.
He explained that Bobrisky was sent to the privilege cell because he was examined and found to have both male and female sex organs.
The deputy comptroller disclosed this at the correctional centre while addressing members of the House of Representatives investigative committee.
The committee had visited the facility as part of their investigative hearing into the allegations against Bobrisky.
A Lagos Court had sentenced Bobrisky to six months in prison for naira mutilation.
But recordings of a conversation leaked by social media sensation, Martins Ortse aka VeryDarkMan, suggested that Bobrisky never served his jail term at Kirikiri prison as ordered by the court.
In the audio, the crossdresser said he served his jail term in a lodge due to the influence of his ‘godfather’.
However, an investigative panel has said there was no evidence that Bobrisky slept outside the prison during his six-month jail term.
However, the officer while addressing the House of Representatives committee, said: “I am Emby Anukwara, Deputy Comptroller of Corrections and officer in charge of Medium when Bobrisky was brought in here.
“On April 12, 2024, Bobrisky was brought here at about 10:30 pm and at about that time, we could not do the necessary documentation.
“So knowing his history as to if he’s a male or female, we decided to take a proactive action; so I directed that he should be given a single cell in the privilege ward – privilege cell.
“He was taken to P-ward room 2 where we are. The next day when we did the admission, he was taken to medicals where the doctor and matron examined him and said he had a male and female organ.”
More...
A suspected cultist has been arrested while negotiating to buy an AK-47 rifle for N1.3 million.
He was arrested by ment of the Delta State Police Command and paraded on Tuesday by State Police Public Relations Officer, SP Bright Edafe.
The Police image maker said the suspect, who is a member of the Vikings Confraternity, has confessed to the crime.
Edafe said, “He said he belong to Vikings Confraternity and was vying for number 1 position and the condition to get the position is to own an AK-47 rifle.
“He was arrested while negotiating to buy the AK-47 rifle for N1,300,000.”
A former member of the House of Representatives, Farouk Lawan has been released from prison after serving his five-year jail term at Kuje Prison.
Recall that the ex-lawmaker was convicted and sentenced to prison in 2021 for accepting a $500,000 bribe from businessman Femi Otedola, Chairman, Zenon Petroleum and Gas Ltd.
In January, the Supreme Court had affirmed the five-year jail term handed to Lawan by the Court of Appeal.
In a unanimous judgment, a five-member panel affirmed the 2022 judgment of the Court of Appeal which upheld Lawan’s sentencing to five years in respect of only count three on the three-count charge on which he was tried at the High Court of the Federal Capital Territory (FCT).
In the lead judgment prepared by Justice John Okoro but read by Justice Tijjani Abubakar, the apex court found that Lawan’s appeal was without merit and proceeded to dismiss it.
However, a video on Tuesday showed Lawan’s release from Kuje prison.
Media
A former member of the House of Representatives, Farouk Lawan, has regained freedom after serving a 5-year jail term in Kuje Prison.
— Daily Nigerian (@daily_nigerian) October 22, 2024
He was convicted for receiving a bribe of $500,000 from a businessman, Femi Otedola. pic.twitter.com/ok5qKj6FEq
Popular Nigerian crossdresser, Idris Okuneye, also known as Bobrisky has now been moved from the custody of the Nigeria Immigration Service, NIS, to the Force Criminal Investigation Department Annex, Alagbon, Lagos State.
The socialite was arrested by Immigration officers at the Seme border on Sunday night October 20 while trying to ‘flee’ to Benin republic.
Punch reports that Bobrisky was transferred from the Immigration service office to the FCID where he spent the night with the police.
Confirming this development, the spokesperson for the FCID, Lagos, Mayegun Aminat, said;
“He is detained at FCID Alagbon. He is with us and we are to get a remand to keep him in custody today.”
FG’s House Gift To Judges Is Essential So They Can Focus On The Heavy Responsibility Entrusted To Them – CJN
AFOLABI
The Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, has announced the construction of 40 Judges’ Quarters in the Katampe District of the FCT.
She asserted that the initiative will significantly boost the performance of judicial officers in the Federal Capital Territory (FCT).
Speaking on Monday at the flag-off ceremony of the project, Justice Kekere-Ekun described it as a significant milestone in the government’s continuous efforts to enhance the welfare of judicial officers in the FCT.
“Beyond the courtroom, a supportive and conducive living environment is essential to their ability to focus on the heavy responsibility entrusted to them,” she stated.
Justice Kekere-Ekun emphasized the importance of a peaceful living environment for judges, noting, “Judicial officers require peace of mind, security and comfort in their residences to fully dedicate themselves to the rigorous task of interpreting and applying the law.”
She further elaborated on the necessity of the project, stating, “The construction of these residences is a practical step towards ensuring that judicial officers are well-supported; it reflects the recognition that the mental well-being of judicial officers is directly tied to their living conditions.”
The CJN added that the homes would provide a secure and tranquil environment, enabling judicial officers to perform their duties with greater focus, efficiency, and clarity of mind. “The ability of judicial officers to perform their functions is strengthened when their well-being is prioritised and their work condition is conducive,” she remarked.
The event was attended by notable figures, including the Minister of the Federal Capital Territory (FCT), Nyesom Wike, and the President of the Court of Appeal of Nigeria, Justice Monica Dongban-Mensem, among other dignitaries.
Minister Wike underscored the necessity for judicial officers to have a robust welfare package, including adequate housing. He asserted that with the guarantee of their houses, judges would be firm in delivering judgments and courageous in executing their duties.
Wike confirmed that 70% of the funds for the project had been released following its approval by the Federal Executive Council last month. He specified that out of the 40 units to be constructed, 20 will be allocated to the FCT High Court, 10 to the Federal High Court, and 10 to the Court of Appeal.