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The CEO of Vaneck a $115 billion asset manager said Bitcoin will continue its bullish momentum next year, targeting another uptick to between $150,000 and $170,000
Bitcoin has performed outstandingly in 2024, recording an impressive 124.4% uptrend since this year. Notably, the digital asset’s hefty upsides trounce those of major traditional assets like gold and US stocks.
Meanwhile, a notable market expert has inferred that Bitcoin will continue its impressive run next year. In a recent statement, Jan Van Eck, Vaneck’s chief executive officer, stated that Bitcoin will put in another remarkable performance in 2025.
Bitcoin to $170,000 per Coin
The CEO of the $115 billion asset manager said Bitcoin will continue its bullish momentum next year, targeting another uptick to between $150,000 and $170,000. Furthermore, Van Eck urged market participants to buy Bitcoin and gold as a hedge against fiscal uncertainties.
Meanwhile, his assertions nearly correlate with VanEck’s official Bitcoin forecast for 2025. Last week, the US Bitcoin spot ETF issuer predicted that Bitcoin would hit $180,000 while Ethereum would be worth $6,000.
Bitcoin Drops to $98,000 despite Positive Prediction
Bitcoin the flagship crypto asset dropped to $95,000 yesterday following Data coming from the FOMC on Fed rate cuts. The flagship crypto asset hit its new all time high of $108,372 three days ago but dumped to $95,000 in the 72 hours.
- At the time of the report, Bitcoin has corrected to $98,300 surging by 3.8% in the last 24 hours.
- VanEck CEO’s prediction aligns with an earlier prediction of Bitcoin crossing the $100,000 mark before the end of the year.
- The prediction was made by analysts in November during the Bull run but the crypto asset failed to breach the psychological barrier that month.
The long-awaited event occurred in the first week of December with Bitcoin breaching the $100,000 mark to $103,000. The asset surged to $108,000 before slumping to $95,000 three days ago.
Bitcoin price Analysis
Bitcoin is currently exchanging hands for $98,518 surging by 3.8% in the last 24 hours. The crypto asset has dipped by 8.9% from its all-time high with a maximum price of $99,496 and a minimum price of $92,495.
What to Know
- Bitcoin Exchange Traded funds recorded massive outflows on Thursday losing $617 million in just 24 hours. Blackrock’s IBIT the largest Bitcoin ETF by market capitalization recorded no inflows for the day.
- Exchange Traded Funds creates an opportunity for institutional investors to invest in cryptocurrencies without actually owning them. Bitcoin and Ethereum ETFs are the only available Exchange Traded Funds at the moment.
- There are speculations of a Solana and XRP Exchange Traded Funds in the horizon as both crypto assets are the next in line according to the list of top crypto assets by market capitalization.
[Nairametrics]
The election petition tribunal sitting in Benin City has disclosed that Asue Ighodalo, the Peoples Democratic Party, PDP, the All Progressives Congress, APC, the Independent National Electoral Commission, INEC, and Governor Monday Okpebholo will be calling 290 witnesses during the hearing of their petition.
DAILY POST reports that the tribunal is adjudicating on the declaration of Monday Okpebholo, the candidate of APC winner of the last September 21, 2024 governorship election in Edo State by Asue Ighodalo, the PDP candidate.
Asue Ighodalo and his party, PDP are challenging the declaration of Monday Okpebholo and his party winner of the election by the Independent National Electoral Commission, INEC.
DAILY POST reports that the chairman of the three-man tribunal, Justice Wilfred Ikpochi disclosed this at the weekend during the presentation of the pre-hearing reports and scheduling to parties in the petition.
Ikpochi did not, however, give the breakdown of the number of witnesses that each of the petitioners and respondents would call during the trial.
He said the 290 witnesses were proposed by the parties in the harmonized proposal for the pre-hearing conference.
He said the parties will only call witnesses whose statements on oath have been frontloaded and subpoenaed witnesses where necessary.
The court added that the petitioners shall call their witnesses within 21 days or less while each of the respondents shall be allowed 10 days or less to call their witnesses.
“The parties may call expert witnesses as indicated in their pre-hearing answers.
“All pleading documents shall be rendered and admitted by the tribunal while objections thereto shall be filled separately during final addresses. Objections to such documents during trial shall be noted and rulings reserved appropriately, “he said.
He also added that all frivolous and unnecessary applications for adjournments shall not be granted by the tribunal as the election petitions are time-bound.
According to him, whenever, it becomes very expedient to fast-track the proceedings, the tribunal shall bridge the time for doing anything in accordance with the rules as prescribed by the Electoral Act 2022.
Justice Kpochi, further added that on no account should any written address filed by counsel be more than 40 pages.
He said the address should be of double spacing format with 14 font size.
He, however, advised all counsel to imbibe the spirit of good brief writing in compliance with the Electoral Act, 2022.
Others presented in the reports by the tribunal are that there shall be no consolidation of the petition with any other petition as there was no application in respect thereof and there shall be no amendment of amendment as none is required.
“There shall be no further particulars or admissions save the application by the petitioners for interrogatories directed to the INEC, Monday Okpebholo as first and second respondents requesting for particulars articulated in the copies of the proposed interrogatories that have been filed along with the application in motion No-EPT/ED/GOV/02/M10/2024 filed on December 6, 2024, that has been granted.
The tribunal chairman, who adjourned to January 13, 2025, for hearing, said the court shall be sitting from day to day from 10am except on Sundays and other public holidays gazetted by law.
He, however, stated that the sitting period is subject to reviews as the exigencies of the workload permit.
[DailyPost]
No fewer than 27 people were feared dead following a stampede in Okija, Ihiala Local Government Area of Anambra State.
The tragic incident occurred during a Christmas rice distribution event organized by a local foundation to aid the less privileged.
The annual charity event, spearheaded by philanthropist and Chieftain of the All Progressives Grand Alliance (APGA), Chief Ernest Obiejesi, known as Obijackson, turned deadly due to the overwhelming crowd.
An eyewitness, who spoke to The Nation, described how the good intentions behind the event were overshadowed by the chaos that ensued.
The source confirmed a viral video showing the tragic scene and expressed disbelief over the actions of the crowd.
“Hunger has made some people ‘stupid’. Why were they fighting and rushing for rice that would have been enough for everyone, no matter how many people came?” the eyewitness said, adding that Obijackson’s Foundation has consistently provided excess rice every year, with people from neighboring states also benefiting. “The stampede was caused by impatience.”
Several injured victims were rushed to the local hospital, while the bodies of the deceased were taken to the morgue.
It was gathered that the incident also affected the state government, as one aide to Governor Prof. Chukwuma Soludo reportedly lost two relatives in the stampede.
The aide, a former member of the Peoples Democratic Party (PDP) from the local government, was deeply affected by the loss.
The state police public relations officer, Tochukwu Ikenga, could not be reached for comment, but a senior police officer confirmed the incident.
“Yes, it’s true. The Commissioner of Police, Obono Itam, has already dispatched officers to the site,” the officer said, adding, “The stampede likely resulted from the crowd’s rush, but the command will begin an investigation immediately. It was a pure accident, and we deeply sympathize with the affected families.”
[TheNation]
Former presidential candidate of the Labour Party, Peter Obi, has expressed sorrow and concern over the tragic stampedes in Anambra State and Abuja that claimed the lives of many individuals on Saturday.
In a statement on X.com on Saturday, Obi stated that the stampedes, which occurred during the distribution of food and palliatives to citizens, highlighted the socio-economic challenges in Nigeria.
Obi wrote, “I am deeply saddened and distressed by the tragic loss of lives in desperate searches for food. A few days ago, about 35 people, mostly children, lost their lives in a stampede at a Christmas Funfair in Ibadan, Oyo State.
“This morning, reports emerged of at least 10 people losing their lives in Abuja while scrambling for palliatives, with many others injured.
“Now, I just heard that about 19 more lives were lost in another stampede in Okija, Anambra State, as people struggled to receive food items.”
While appreciating the organisers of the events for their kind gestures in providing support to the needy, Obi stated that the incidents were reflective of systemic failures within the country.
“While I will not cast blame, but instead appreciate the organisers of these respective events for their kind gestures in providing palliatives and support to society, especially the poor, these tragedies reflect the systemic failures that plague our society.
“The desperate quest for survival in these harsh economic times has driven our people to extremes in their search for food, often at the cost of their lives,” he added.
Obi questioned the paradox of widespread hunger in a nation so abundantly blessed with resources.
He wrote, “How do we explain that in a nation blessed with abundant resources, our people are dying of hunger in such numbers? How is it possible that we cannot feed our citizens despite the vast, fertile lands our nation is endowed with? My heart bleeds.”
He also empathised with the states involved and the affected families, saying, “One can only imagine the pain their families are enduring at this moment. My heart goes out to them.
“I sincerely commiserate with all the affected families and the good people of Oyo, Anambra, and the FCT over these tragic incidents. May God grant them, and all of us, the strength to bear these painful losses.”
“May God Almighty grant the departed souls eternal rest, and may the injured recover swiftly.”
PUNCH Online reports that no fewer than 10 individuals, including children, died in a stampede that occurred during a food distribution event at Holy Trinity Catholic Church, Maitama, Abuja on Saturday.
Similarly, some yet-to-be-confirmed number of persons were feared dead following a stampede that occurred during the sharing of palliatives at the gate of the Obijackson Centre, in Okija, in the Ihiala Local Government Area of Anambra State, on Saturday.
This incidents follows the death of 35 children during a stampede at a funfair in Ibadan, Oyo State on Wednesday.
[Punch]
Igwe Laz Ekwueme, Eze Ijikara II of Oko is one of the foremost traditional rulers in Igbo land. In this exclusive interview with Saturday Vanguard, Igwe Ekwueme spoke about the problems facing the traditional institution in Anambra State, the reason he has not been able to celebrate his Ofala festival for the past 20 years, as well as the infamous gully erosion that is threatening his Palace and how he chose to study Music.
Igwe, what was the past like?
I was born in Oko. My father was a church teacher. We were four boys and three girls. The girls died in infancy. My elder brother died at young age and we were left with three boys. One was Dr. Alex Ekwueme, I am in the middle and my younger brother is Obumneme Ekwueme who is a surgeon at the University of Nigeria Teaching Hospital (UNTH), Enugu.
Ekwueme, our grandfather, had five wives and my mother was the second wife. When the church came, they went to the traditional rulers, and asked them to send their children to schools. My grandfather felt that the idea of Christianity didn’t vary much from the traditional beliefs. So he sent his younger children to school. So, my father and the other younger children went to school and that was how Ekwueme became an educated family in this area.
My late uncle went to DMGS, Onitsha, my eldest brother went to DMGS, Alex went to Kings College and I went to Government College, Umuahia. Obuneme went to Igbobi College, Lagos. Alex later went to the USA, to study Architecture and many other degrees in seven different subjects. I went to England to study music and my younger brother went to University College, Ibadan and collected 90% of prizes in Medicine there.
In Ekweme family we have 14 Medical Doctors, seven Lawyers, 11 Engineers, four Pharmacists, eight Architects. We have other professions in the family, including Education, Accountancy and even Religious priest. It’s a large family and God has blessed us in many ways. We were not endowed with money, but we were lucky to have acquired education. Alex went to America on scholarship, I went to England on scholarship, my younger brother after Ibadan went to England for further studies on scholarship. My first son is an Architect and his first son has 1st Class Honours in Engineering from a University in England. We are a religious family of Anglican Church, courtesy of my father.
What inspired you to study music at the time you did because music was not a popular course then?
I went to study music almost by chance. I was much more interested in Drama. As a young person and good looking, I had the ambition of being a film star. I couldn’t take lessons in Drama in Nigeria although there were competitions, like the Festival or Arts and I got prizes in many of them. But I got a Federal Scholarship to study music in England. While studying music, I did not leave Drama, Literature and other aspects of human creativity, including Fine Arts. I conducted choirs in England and America and sang in many churches abroad, including in Jewish Temple churches.
As the first Professor of Music in Africa, what did you do to change African Music?
I made my contributions in whatever way I could. Music is either you write it, play it or practice music. Or you teach music. I have composed quite a few pieces of music, both local instrumental, choral and solo. I have set up choristers in various parts of the world and conducted choral singing in many places. I have published over 20 books in various branches of music and Drama and other aspects of education. That was why I was awarded the Nigerian National Order of Merit (NNOM).
What was your proudest moment as a young man?
It could be the fact that I studied music up to the level I did because most Nigerians did not get up to that level. To have a B. A Mus in England in those days was something very big. And I went to teach at University of Nigeria, Nsukka as a young Lecturer for two years and I got another fellowship to go to America for Ph.D. I conducted the choir at St. Barth’s Enugu at the age of 20 years.
As one of the foremost traditional rulers in Igbo land who everyone would be seeking your views on issues concerning culture and tradition, can you tell us the history of traditional institution in this part of the country?
In other communities in Igbo land, the ways of life revolve around the traditions in Anambra State. Anambra is a community of people who cluster together and how they came together is not quite clear. Every village or community has its own story or narration. Some say they came from Igala land, others say they came from Benin. But nobody is sure of anything. But there was a traditional medicine man called Ezechina who travelled and lived in Benin for many years and the Oba handed him many things. However, an Oba who didn’t like Ezechina mounted the throne and Igbo people had to run away and they came back to the East where they were originally from. There were other stories about origin of the Igbo. Many believed that Nri was the source of Igbo land because they performed rituals. Anywhere there was trouble, they were called to perform the ritual and often acquired land there. So they had a lot of influence spiritually and materially. So many Igbo communities had ancestries in Nri. Apart from Arochukwu, there is hardly any part of Igbo that doesn’t have a trace to Nri. Agu Ukwu, Enugwu Ukwu, Nawfia and Enugwu Agidi are sons of Nri. So, many people migrated from many places to settle where they are presently.
In Oko, for instance, because of the growth of the town due to the educational establishments, the markets, the industrialization, many people migrated to the town and have, as it were, become indigenes of Oko because this is where they were born. Many people from Nsukka and Abakaliki have settled here and they enjoy all rights and privileges.
What have been your challenges as a traditional ruler?
It’s somewhat a checkered history because there has been a tradition of hierarchy in Oko. We have six villages in Oko and there is also seniority within the villages. Ezioko is first and if something is being shared, Ezioko will take first. In Ezioko, there are certain quarters Umuomodo, Etiti, Okoto in that order. If you come to Umuomodo, Umuezeokwe must take first. Traditionally, Umuzokwe has played the leading role in kingship.
My uncle whom I succeeded was Igwe Ekweme the III. Ezeoko produces the king, but our people are amending the constitution which may prevent Ezioko from producing the king. I am not worried about who comes after me. When my uncle who was the Igwe died, I gave a gap before I assumed the office. My elder brother, Dr. Alex Ekwueme, would have been the one but he asked me to take over because he was involved in politics. People were lobbing him but he said I should take it. It has not been easy and the challenges have been enormous. The Igwes no longer command the respect they used to enjoy. All the rights and privileges they used to enjoy are no longer there. Instead, they come to see what they can get from you.
One of the challenges I had faced came from the authorities of the Federal Polytechnic which was established by Dr. Alex Ekwueme which many people made a money spinner for themselves. Instead of using it to develop academics and the town, they see it as a gold mine and it had caused a lot of problems.
My last Ofala was over 20 years ago because of disunity in the town, but we will have one in January, 2025. Even annual Iwaji could not hold for a long period. However, we are now in a period of restoration.
.How has your position as a nollywood actor, an academician, a musicologist and a traditional ruler, been influencing your person?
Part of the problem is that I am a person interested in too many things. In fact, it retarded my academic progress because if I had concentrated on academics, I would have moved faster. I was involved in music, drama, sports. I was a champion boxer, I was in martial arts. I did sciences in higher school and ended up studying music because I got a scholarship. I was even a lay reader in the church in 1956 and a choir master of the Old Niger Diocese which included Benin, Owerri, Enugu and I took St. Barths choir Enugu to competitions and won laurels. My interest in music was because I was taught music at Government College, Umuahia by a white man.
When you are in a film set, do those you act with give you respect as a traditional ruler or just treat you as an ordinary person?
Well, we are there to play our parts irrespective of who you are. If you are asked to play the role of a slave, you have to do it even if you are a king. But outside the set, you get your respect, although many of them would think that because you are a king, you should give them something. The important thing is for one to do his part and that is what drama is all about. But because I happen to be a traditional ruler I played the role of Monarch in a lot of films. But I started doing that even before I became a traditional ruler. But generally I had played the role of a priest, traditional ruler, businessman. They gave me affluent positions because they want someone who can interpret well and come with dignity and without pretence. Yes, it does affect the part one plays, but not in all cases.
Do your colleagues in the Traditional Rulers Council complain about your acting films?
Yes, many of them condemn my acting on set and say it’s a misconduct on my part. But I pity them because it is lack of education on their part. I practice a profession like others. You cannot tell an Igwe who is a doctor not to practice medicine or a lawyer who is an Igwe not to go to court. Some of the Igwes said I should not be entertaining people. Anyway, I am now too old to take active part in acting.
Does being a brother to one of Nigerian’s foremost politicians, Dr. Alex Ekwueme, affect your governing Oko as a traditional ruler?
Naturally some people felt that I was carrying on as an aristocrat. I come from a Royal family and there is nothing people can do about it. They felt I was like that because my brother was a Vice President, but that was not true. If for anything, I even suffered because of it. There was nothing I got that others did not get. I got NNOM on merit, and not because I was Dr. Alex Ekwueme’s brother. And I am a first class monarch. Chukwuemeka Ike later got NNOM. There might have been advantages I enjoyed for Alex being my brother, but there seemed to be more disadvantages. There were things I was entitled to but people thought I already had them because of my brother. People won’t offer you gifts because they think you are rich. People assume that I am rich, but I am not. I didn’t have money. Someone might propose you to be chairman of something, but some people world say, oh he doesn’t need it. For instance, why should I not have been Vice Chairman of Anambra State Traditional Rulers Council? Chukwuemeka Ike who became a traditional ruler seven years after I had been on the throne, became the Vice Chairman. Even when Ike passed on they gave it to somebody else. I didn’t have to request for it.
The State Traditional Rulers Council appears to be in limbo at the moment. What is happening?
The cause of the matter was that past governments selected members of the traditional rulers council. For instance we are about 200 traditional rulers in Anambra State, but government selected only 60 for the state council. The three senatorial zones have zonal forum and Local Government council and everyone belongs to them. But the central one was selected by the governor and he handpicked the members. For example, Ekwusigo local government has only four towns and three from there are members of the council. Nnewi North is one town LG, Onitsha is a two- town LG, Orumba North has 16 communities and by the time Ike died, I was the only member from Orumba North local government and the governor should have appointed the Deputy Chairman from Orumba North. Awka South had six patrons, and Orumba North had no patron. Igwe Aguleri passed on and his successor was made a patron on assumption of office. That sort of thing was something beyond the traditional rulers. Last year, the governor told us that he found out that the law provides that every traditional ruler should be a member of the state traditional ruler’s council and that the law should be amended. But that amendment never took place. It’s over a year and nothing has happened. Many people are displeased about it and the allowance we get is off. We were sitting two times a month. The chairman was getting N100,000, the grand patron gets N75,000, the secretary gets N50,000, the Vice chairmen get N50,000 while the rest get N30,000.
So many of the traditional rulers are unhappy because, for example, if you have to travel from Owerri Ezukala to Awka for a meeting, you need your transportation reimbursed at least, especially when many of the traditional rulers do not have other sources of income. Some of them who are successful businessmen don’t care. So many have been disgruntled and that is part of the problem.
Culturally speaking, are there things you think Igbo people are not doing right?
Indeed there are things we are not doing right. We misplace our priorities and emphasizing on money all the time. We seem to have abandoned honesty, truth and justice, fair play. Oko has been somewhat lucky that there is no battle between the traditional ruler and the PG but many communities have that problem. I am not someone that goes about seeking power. They battled me in the past and set traps and even tried to kill me. But God has been on my side. I believe that with the Ofala we are planning, a lasting peace will return in Oko after 20 years. We couldn’t celebrate Ofala because of lack of peace. The forthcoming Ofala is to cement peace in the town.
The gully erosion had been a problem in Oko to the extent that your palace is also being threatened. What is the situation?
The problem is still there, not because the government is unwilling to do something about it, but because government is unable to do anything. It is an enormous problem. The World Band had been approached and they sent a team through NEWMAP which did a lot of survey here. If you walk behind this palace you will see it. We are only living by prayers and keep hoping that something will be done, but nothing has been done. There is hope that the governor will do something about it and he had taken steps to do something about it. It is not just Oko as many other communities are affected.
Governor Soludo has banned sand mining in Oko and other communities because it causes gully erosion. Are your people still doing it?
Some people are still doing it clandestinely and some of them have been arrested. But those who are caught face the consequences.
If you are asked to name one thing you want government to do for your community, what will that be?
Erosion and roads are our main problems. There are parts of Orumba North that are inaccessible such as Ndi Okolo, Ndi Okpalaeke because of gully erosion. We will be very happy if the problem of erosion is tackled
[Vanguard]
The Niger Delta Power Holding Company (NDPHC) says there has been intense efforts on debt recovery from bilateral customers.
Jennifer Adighije, managing director (MD) of NDPHC, spoke on Friday in Abuja.
Adighije said the power sector is burdened by cash flow challenges, which ripple across the ecosystem, affecting power generation, transmission, and distribution companies.
However, the MD said the debt recovery has allowed the company to address its obligations to gas suppliers, who account for a significant amount of the cost of power generation.
“It’s important to know that the sector is characterised by cash issues across all the subsectors you know and across the entire ecosystem and it reverberates,” she said.
“So the DisCos are claiming to be owed heavily which is why the bulk electricity trader does not settle 100 percent of our invoices so the bulk trader settles about 30 to 35 percent on our invoices and you must also bear in mind that 65 to 70 percent of our cost of generation goes to gas supply so in turn we also owe our gas suppliers.
“So by improving our liquidity we’re able to address some of our debts, some of the exposure that we have to our gas supplies and we’re able to settle some of our gas to meet our gas obligations to a large extent.”
Adighije also said the long-standing issue of stranded energy due to excess generation capacity relative to demand, is being addressed.
According to the NDPHC boss, the company has adopted a strategy to address surplus energy.
The government-owned firm, in alignment with the July 25 directive from the Nigerian Electricity Regulatory Commission (NERC), which encourages direct energy sales to eligible customers, said it has allocated its stranded power capacity to bilateral and eligible customers.
OFF-TAKERS EXPECTED TO SIGN POWER PURCHASE AGREEMENTS BY 2025
Adighije said off-takers who have submitted expressions of interest (EOIs) for the stranded energy of the project will finalise their power purchase agreements (PPAs) by 2025.
She also said some off-takers have expressed interest in acquiring up to 100 megawatts (MW) of capacity each.
“We have always had a generation capacity in excess of demand and the demand is coming from the downstream markets,” she said.
“So, we must understand that the market is driven by demand which has created a lot of stranded energy for us because we have energy generated in excess of demand.
“But with this new management our strategic would unlock that stranded energy by dedicating significant portions of that energy now to eligible customers and bilateral trading arrangements pursuant to the order July 25th order of the NERC directing us now to trade bilaterally with eligible customers so that should be able to address our stranded capacity.
“We already have a lot of off-takers that have sent expressions of interest like Zenith Point is supposed to off-take about 100 megawatts. We have auctioned about 100 megawatts, as well as several other potential PPAs that we are likely to sign in 2025.
“So that would address to a large extent our stranded capacity challenge talking about 2025.”
Adighije said efforts are being made through collaboration to unbundle the bottlenecks that are being faced in the sector, especially in the area of liquidity challenges “as the president has already promised to come up with some initiatives that will improve our outlook for 2025”.
[TheCable]
The Enugu State Police Command in multiple operations has busted a kidnapping gang hideout and arrested five suspects for burglary and car stealing.
These operations also resulted in the recovery of firearms, ammunition, military uniforms, and stolen items, including a car.
According to the State’s Police Public Relations Officer, Daniel Ndukwe, the kidnap gangs were arrested in Nru, Nsukka local government area.
Items recovered from them included a loaded revolver pistol, a single barrel gun, two live cartridges, a Point of Sales (POS) machine and Automated Teller Machine (ATM) cards.
He said the suspects were involved in recent kidnappings and other crimes in Nsukka.
“On December 15, 2024, a combined team of operatives from Nsukka Area Command, acting on intelligence, raided a kidnapping gang’s hideout in Nru community, Nsukka LGA. The suspects engaged the operatives in a gunfight, but fled with gunshot injuries under superior police firepower
“A loaded revolver pistol, a cut-to-size single-barrel gun, two live cartridges, military camouflage uniforms, a Moniepoint POS machine, and ATM cards were recovered.
“Preliminary investigations revealed the gang’s involvement in a recent case of kidnapping and other heinous crimes in Nsukka. Efforts are ongoing to apprehend the fleeing suspects,” he said.
Also, in another operation, the Command arrested suspects for allegedly burglary and stealing a car.
Nelson Uchechi, Waziri Adamu, Auwal Kachalla, and Abba Mohammed were arrested for alleged burglary, while Chukwuka Chika was arrested for allegedly stealing a red Volkswagen Passat car.
“In a different operation, on November 14, 2024, operatives from the Abakaliki Road Police Division of the Command arrested four burglary male suspects, namely: Nelson Uchechi, aged 22, Waziri Adamu, aged 21, Auwal Kachalla, aged 30, and Abba Mohammed.
“The suspects had burgled and stolen bicycles, laptops, phones, and other items from a house in GRA, Enugu, on November 14, 2024, around 2 a.m. The stolen items were recovered, while the suspects confessed to the crime and were subsequently arraigned in court and remanded in the Nigerian Correctional Custodial custody.
“In another operation, operatives from the Central Police Station of the Command, in early December 2024, arrested Chukwudi Chika (male, aged 35) for stealing a red Volkswagen Passat car from where it was parked on the premises of a church at Coal Camp, Enugu.
The car was recovered, while the suspect confessed to the crime. He has been arraigned in court and remanded in the Nigerian Correctional Custodial custody,” the statement added.
The State’s Commissioner of Police, Kanayo Uzuegbu, advised criminals to leave the state. He assured the Command’s unwavering commitment to ensuring public security and safety in Enugu State during the festive period and beyond.
He urged citizens to remain vigilant, report suspicious individuals and their activities, and also cooperate with law enforcement agents to maintain peace and security across the State.
[NaijaNews]
Controversy has trailed the recent conviction of Segun Olowookere, whose parents, Olarewaju and Folashade, are kicking over his sentence to death by hanging for stealing a fowl. TOBA ADEDEJI, who obtained a copy of the judgment delivered on December 17, examines the controversy.
ON January 30, 2013, Segun Olowokere, then a 22-year-old, and 21-year-old Sunday Morakinyo were dragged before the Osun State High Court, Ikirun before Justice Sakariyah Falola on eight counts charge in suit number HKK/2C/2012.
They pleaded not guilty to the charges of conspiracy, armed robbery and stealing pressed against them by the State Counsel, Barrister Biola Adewemimo.
According to the charge, the two convicts who conspired in November 2010 to rob one Mr Oguntade Faramade of his fowls and eggs worth N20,000 also robbed Balogun Taye of his two mobile phones and attempted to rob another Alhaja Umani Oyewo in her house.
It was also stated that they robbed Elizabeth Dare of a gallon of vegetable oil, using cutlasses and a Dane gun. They were also said to have robbed one Balogun Taye of N5,000, mobile phones and fowls.
The prosecution counsel also disclosed that they stole fowls worth N30,000. It was noted that they committed the crime in Oyan community in Okuku Local Government area of Osun State between April and November 2010.
Six witnesses testified against them for robbery and stealing as the prosecution counsel tendered 11 exhibits, which includes four cutlasses recovered from the convicts, one female head net used as face cover, one Dane gun, two DVD players admitted and four kegs of vegetable oil and confessional statements which were all admitted.
In his confessional statement, Olowookere, said: “In the evening of 10/10/2010 when the PDP wanted to do the primary election of councillors, one of my friends, Adepoju Siju, visited me at my home and told me that he wanted to visit his girlfriend, Tosin who is a daughter of one Alhaja.
“He said he would be sleeping in my house at night because I am the only one living in a six-bedroom flat.
“When it was 8 0′ clock in the night, my friend, Adepoju, called me on the phone. He said I should help him to call one Sunday and his group to my house for a business. I delivered the message to the boys and they followed me obediently to my house.
“On getting to my house, Adepoju told the boys that we were all going to guard one counsellor till the following morning.
“When it was midnight, Adepoju called all of us together and said that we were going to the house of Alhaja, the mother of his girlfriend, to rob her of a certain amount of money.
“He said Tosin, Alhaja’s daughter, would open the door for us when we got there because he had arranged with her.
“When it was exactly 12 midnight, we left my house.
“We went to Alhaja’s house as Siju Adepoju was armed with cutlass and others carried iron rod and sticks, but I did not hold anything. I went to the place empty-handed.”
During the trial, the victims of Olowookere, Morakinyo and five others which include Alhaja Oyewo, Elizabeth Dare, Oguntade Faramade and three policemen, namely Alaba Samson, Ogunniyi Emmanuel and Ilyasu Maruf, testified against them.
However, Barrister Ayo Omolosho who was the defence counsel, opposed to the prosecution, stating that they were not arrested at the scene of the crimes committed and that they failed to prove the case beyond reasonable doubt.
Olowookere and his father denied the crime as Morakinyo said he was mentally unfit to oppose the claims of the prosecution.
During the prosecution, the confessional statements by Olowokere, Morakinyo, Ojo Dare, Dare Sunday disclosed that one Adepoju Siju initiated them to commit the crime of armed robbery and stealing at the house of one Alhaja Oyewo and their other victims in the town.
Delivering his judgment, Justice Falola convicted them for conspiracy, robbery by firearms, armed robbery and stealing.
However, he dismissed count 2, 4, 5 and 7 against them, noting that the prosecution failed to prove the case beyond reasonable doubt.
He ordered that they were sentenced to death and life imprisonment for the crime of conspiracy to commit armed robbery, robbery with firearms.
He sentenced them to three years imprisonment for stealing.
However, Justice Falola recommended in his judgment that “In view of the age of the two convicts, it is hereby recommended to The Governor that if it may please him, he should commute the death sentence and life imprisonment to (say) 10 years.
“The medical officer in charge of the prison where the second convict, Morakinyo Sunday, is being kept is hereby ordered to investigate his level of insanity.
“If the convict shall be found to be insane and constitutes danger to fellow inmates and prison officials, he shall be transferred to and kept in an asylum where destitutes are kept. He shall remain there at the pleasure of the Governor.”
Amidst the controversy, Governor Ademola Adeleke, in a statement by his spokesperson, Olawale Rasheed, said the Governor had directed immediate investigation and pardon in the case of Olowookere.
But former Attorney-General of Oyo State, Mutalubi Adebayo, cautioned Governor Adeleke against his plan to free a robbery suspect.
Adebayo, in a statement, warned that “Governments at all levels and the general public should not allow bloggers and internet idlers to mislead them to unnecessarily harass, vilify and attack the judiciary through dissemination of half truths and outright lies.”
He said: “The report that the prisoner was convicted and sentenced to death for stealing a fowl is pure lie and cheap blackmail that was packaged with a view to secure freedom for the prisoner through the backdoor.
“It was very fair trial and there was no appeal against the judgment since same was delivered about 14 years ago.
“It must be made clear that I am not disputing the right of any Governor or even the President to grant pardon to any convict as same is a constitutional provision.
“However, it is unconstitutional for any Governor or President to investigate the circumstances under which any judge delivered his judgment and or the reason(s) and or propriety or otherwise of the judgment. The executive lacks such powers.
“It is a clear usurpation of the powers vested in the judiciary by the Constitution. It is always deeply traumatic whenever judges are being bullied and harassed on the internet for performing their lawful duties, more so when such attacks are premised on falsehood and rumours.”
“We must avoid exposing our Judges to dangers and risk of being attacked by criminals which can lead to loss of lives.
“Governor Ademola Adeleke of Osun has unlimited powers to set free the convict in question and any other convicts for that matter without any reason, but that unconstitutional investigation must be stopped forthwith.“
[TheNation]
Less than a month after the Port Harcourt Refining Company appeared to have resumed production, the facility has stopped working.
Our correspondent, who visited the refinery on Thursday, December 19, 2024, observed that the lifting of Premium Motor Spirit (petrol) had stopped.
Saturday PUNCH gathered that the lifting of petrol actually stopped last Friday, December 13, as the 18-arm loading bay of the new Port Harcourt refinery was empty.
While about 18 trucks littered the stretch of the busy road leading to the refinery itself, nine trucks were spotted inside the parking yard, while the loading bay was empty.
The depot, which is usually a beehive of activities where tankers scramble for space at the parking yard, was a shadow of itself with literally no vehicular or human activity relating to operations.
$1.5bn celebration
Recall that the inauguration of the 60,000 barrel per day production capacity plant by the Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, on Tuesday, November 26, 2024, was met with celebration and fanfare. This was after $1.5bn was approved in March 2021 and spent on the rehabilitation of the facility.
During the re-opening of the facility, there was lifting of petrol to the excitement of the cheering crowd.
However, less than 10 trucks of petrol were lifted that day as against widespread claims that about 200 trucks carried petrol out of the bay.
Our correspondent also reported that no sooner had Kyari returned to Abuja than things returned to the old way, amidst allegations by stakeholders that the petrol lifted during the inauguration was old stock from the storage tank.
When Saturday PUNCH first visited the refinery three weeks ago, it was discovered that the loading bay was deserted without the lifting of products.
In response to the discovery, the Petroleum Products Retail Outlets Owners Association of Nigeria said operations were scaled down due to the calibration of meters at the loading bay and de-watering of the old stock, which had to be emptied to pave the way to receiving newly refined products.
A fortnight ago, tanker drivers drove in and started loading once again.
Journalists were also taken on a guided tour of the refinery, led by its Managing Director, Ibrahim Onoja.
Onoja stated, “The plant is running and we are trucking out our products. We have carried out an extensive revamp of this plant and changed most of the equipment.
“The pump and instrumentation, the cables are all brand new. So what we have done here is massive change and upgrade of the plant.”
Afterward, there was marked improvement as about 11 trucks lifted products, even as it was better the next day.
Back to default
However, when Saturday PUNCH visited on Thursday, it was learnt that production activities stopped one week ago.
A handful of drivers were seen sleeping in their trucks while doing nothing.
One of them, who spoke Hausa, said he learned the lifting of PMS would resume next Monday.
He, however, expressed doubt about the information as he counted the number of days with his fingers and muttered, “Three days; they said they would load on Monday.”
The number of workers and visitors could easily be counted as there were more security men clad in black trousers and blue shirts.
The guards were stationed at the entrance of the depot and the loading bay, and inside the loading bay itself. They kept themselves busy as they chatted away.
Speaking with Saturday PUNCH, another truck driver said, “It was Friday last week they loaded last. About 15 trucks or so loaded that day. Since then, not even a single truck has been loaded till now.”
Asked if any explanation was given, he replied, “I don’t know. Nobody is giving us any information or telling us anything. Some trucks that were here have left. I’m just here because my director said I should wait a bit.”
Meanwhile, a petroleum product marketer, Mr Dappa Jubobaraye, has decried the state of refineries in the country.
Jubobaraye alleged that since Kyari inaugurated the plant, no production had taken place, pointing out that everything was just a show.
He stated, “It was intended to deceive Nigerians that the refinery is working and that is why they came up with that show. That day, only about four or five trucks loaded products.
“The loading meter was not calibrated yet before they started operation. Of the 18 loading arms at the bay only three are working and they have leakages. So, they have been trying to load three, four, five trucks, sometimes 10 just to show that they are working while they are not working.
“Since Mele Kyari came and left, the independent marketers have yet to load products from this depot because the NNPC is yet to fix prices for them to buy tickets and start loading products. They are only loading them to their own mega stations.
“The situation right now is that loading of PMS is not taking place because they don’t have the intention to make this place work. It is just to deceive the people.
“If you come into this place (depot), you will see trucks packed and think that loading is on; but the truth is that they are not working. Some tanker drivers have gone because they can’t come and waste time here.”
He continued, “How can you come here with the hope of loading and you stay here with your truck for two weeks, for what? Before the work stopped last week, they were loading up to 10, 15 but below 20.
“Ordinary one of the arms in the loading bay can load up to 20 to 30 trucks in a day. But for now, they are using only three arms out of the 18 loading arms inside the bay and the three are just for PMS alone. They have not started loading DPK (kerosene) and AGO (diesel). And kerosene is what concerns the ordinary more.”
Efforts to reach the spokesperson for the NNPC, Femi Soneye, were abortive as he did not take his calls or respond to a text message sent to him as of the time of filing this report.
[Punch]
EFCC Secures Final Forfeiture Of Warehouse, landed property Allegedly Traced To Ex-Govt Official
AFOLABI
The Economic and Financial Crimes Commission (EFCC) has secured an order for the final forfeiture of a warehouse allegedly traced to a former top official of the government facing alleged money laundering charges.
Highly placed sources, who spoke in confidence with New Telegraph, said the order was granted on Thursday by Justice Deinde Dipeolu of the Federal High Court sitting in Lagos.
According to our sources, the property, which sits on a landed property measuring 1.925 hectares, is situated along the Lagos- Ibadan Expressway, Magboro.
It was further learnt the warehouse contains 54 general-purpose steel containers filled with sewing machines of various shapes.
This development comes a few weeks after the anti-graft agency seized a property with 753 duplexes and other apartments located in the Cadastral Zone area of the Federal Capital Territory (FCT).
This newspaper gathered that the judge had, on November 28, ordered the interim forfeiture of the assets upon consideration of the Commission’s application for their forfeiture.
One of the sources said: “Following the directive of the court to the EFCC, which is the lead anti-graft agency in the country, to publish the order in two national dailies for any interested person (s) to show cause why a final forfeiture order should not be made, the Commission later approached the court for the final forfeiture of the assets.
“Interestingly, the court also made another order for the forfeiture of the land holding the warehouse to the government”.
On the proceedings leading to the final forfeiture on Thursday, it was gathered that Counsel for the EFCC, Rotimi Oyedepo (SAN) told the court that the applicant had complied with the court’s directives to publish the assets in two national newspapers.
Placing reliance on Section 44(2) (B) of the constitution, as well as Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, the learned silk prayed the court to grant the final forfeiture of the assets.
“Justice Dipeolu granted the order, making the forfeiture another milestone in the asset recovery drive of the EFCC”, another dependable source disclosed.
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Yahaya Bello, former governor of Kogi, has regained freedom after meeting bail conditions.
Bello has been charged with alleged criminal breach of trust to the tune of N110,446,470,089, contrary to sections 96 and 311 of the Penal Code Law Cap.89, Laws of Northern Nigeria, 1963, and punishable under section 312 of same law.
On Thursday, a federal capital territory (FCT) high court in Maitama granted bail to Bello in the sum of N500 million.
Maryann Anenih, the trial judge, held that the defendant must produce three sureties in like sum who must be responsible citizens of Nigeria.
The sureties must have landed properties within Guzape, Wuse 2, Apo, Asokoro and Jabi areas in the FCT.
They are to submit two passport photographs each and other means of identification like National Identification Number (NIN).
In a now-viral video, Bello and Usman Ododo, governor of Kogi, are seen jubilating.
TheCable understands that the former governor is already in Kogi state.
In the video, he is seen surrounded by a group of people who were also jubilating over his release.
The bail ruling comes barely a week after the ex-governor was granted bail in the sum of N500 million by the federal high court in Abuja, on a 19-count charge bordering on alleged money laundering to the tune of N80 billion.
CASE ADJOURNED TO JANUARY
Bello and his co-defendants — Umar Shoaib Oricha and Abdulsalami Hudu — were arraigned on November 27 before the FCT court on a 16-count charge bordering on alleged money laundering to the tune of N110 billion.
On December 10, Anenih adjourned the case to January 29 and 30; and February 25 and 27, after declining Bello’s bail request on the grounds that the application was filed prematurely.
When the case was called for hearing on Thursday, Joseph Daudu, Bello’s counsel, informed the court that the defence counsels had filed a further affidavit in response to the counter affidavit filed and served by the prosecution counsels.
However, he applied to withdraw the further affidavit.
“We do not want to make the matter contentious,” Daudu said.
There was no objection from Olukayode Enitan, the prosecution counsel. The court, therefore, granted the application for withdrawal, striking out the further affidavit.
Daudu also prayed the court to grant bail to his client and to vary the bail condition of the other defendants.
The counsel implored the court to broaden the scope of properties to be used as bail bond to include locations across the FCT, rather than limiting the location to Maitama.
The prosecution did not object. Consequently, the judge granted bail to the first defendant.
She also varied the bail condition of the 2nd and 3rd defendants to allow their sureties own properties in any location within the FCT.
The first defendant (Bello) was also asked to deposit his international passport and other travel documents with the court. Bello will remain at the Kuje Correctional Centre until the bail conditions are perfected.
[TheCable]
Zambian police have arrested two men accused of being witch doctors allegedly hired to bewitch President Hakainde Hichilema.
Police arrested the suspects in Lusaka, the capital city, and gave their identities as Jasten Mabulesse Candunde, 42, and Leonard Phiri, 43.
A police statement issued on Friday said “their purported mission was to use charms to harm” Hichilema.
“The suspects were found in possession of assorted charms, including a live chameleon, and are alleged to be practicing witchdoctors,” the statement reads.
The police said the suspects were hired by Nelson Banda, the younger brother of Emmanuel Banda, a member of the parliament.
The MP was reportedly arrested last month in neighbouring Zimbabwe over robbery charges.
Emmanuel denied the charges but has not been seen in public.
He is also accused of having escaped from custody in August while waiting to appear in court.
Police said the suspects were promised K2,000,000 (about $72,166) after the execution of their mission.
The statement added that the suspects would appear in court “soon”.
The court of appeal in Abuja has ordered MTN Nigeria to pay N15 million in damages over the unlawful deduction of a subscriber’s airtime through unsolicited services.
On Friday, the appellate court in a unanimous decision by a three-member panel of justices, described as fraudulent, the regular deduction of airtime of customers by the telecommunication giant, for the auto-renewal of services not subscribed to.
According to the court, the sending of unwarranted text messages by the company amounted to a breach of subscribers’ right to privacy under Section 37 of the 1999 Constitution, as amended, as well as the violation of Regulation 28 of the Consumer Code of Practice Regulations.
The judgement followed an appeal marked: CA/ABJ/CV/137/2022, brought before the court by an aggrieved customer, Ezugwu Anene.
Anene had approached the court, alleging that he received over 244 unsolicited text messages from MTN for ‘weekly guidance and counselling,’ a service he said he did not subscribe to.
The appealant told the court that from 2016 to 2018, N20 was unlawfully deducted from his airtime balance, each time he received the text message on his mobile telephone line he gave as 08030735301.
Anene alleged that MTN continued to deduct his airtime for ‘caller tune services’ that were imposed on him.
He told the court that the unwanted deductions persisted, even though he protested at the Abuja office of the telecommunication company and also used a code, 2442, which he was told would activate a ‘Do Not Disturb’ service on his line.
Responding, the appeal court agreed that the unsolicited text messages caused the appellant anxiety.
The judge said MTN was likely profiting substantially from the practice, and Nigerians “may not know this”.
“If MTN had sent unsolicited messages to 10 million phones at the time, owned by innocent Nigerians, it would unlawfully enrich itself to over a trillion naira,” the judge said.
The judge, therefore, set aside the N300,000 general damages imposed by the high court.
The court agreed with the high court that the claimant had complained to MTN and made a personal complaint to its customer care team.
It also agreed that the claimant had activated the DND option, but despite the efforts, MTN persisted in sending unsolicited messages.
“In all, I award N15 million in damages in favour of the appellant and against MTN. The appeal succeeds and is allowed,” the judge said.
MTN SAYS ANENE SUBSCRIBED TO SERVICES
On September 22, 2021, at a high court sitting in Abuja, Anene, through his legal team, had sought over N200 million in general damages for the “disturbing unsolicited messages sent to the claimant weekly,” as well as for the “imposition of callertunes on the claimant’s mobile number.”
He told the court that although he subscribed to MTN’s network services, he never signed up for the weekly clarion child guidance, counselling, or caller tune services provided by MTN.
Anene said instead, “the MTN inundated him with a large volume of messages and deducted money from his airtime for unsolicited services from July 2016 to March 21, 2018, at inappropriate hours”.
He added that his refusal to answer calls from certain numbers denied him the opportunity to receive important business calls, while the strange calls were continuously recurring and embarrassing.
On its part, MTN, represented by its staff member Emmanuel Iteade, informed the high court that when a prospective subscriber purchases a SIM starter kit, the prepaid terms and conditions are clearly placed in the kit to allow careful review.
The official said the company did not breach the claimant’s right to privacy or the quiet enjoyment of his airtime and did not make any fraudulent or illegal deductions from his airtime.
“All services complained about by the claimant were subscribed to by him, and the defendant merely debited him for the services,” Iteade said.
The court awarded N300,000 as general damages but noted that the claimant could not sufficiently prove the assertions about the 88 calls.
Dissatisfied with the N300,000 awarded, the claimant approached the appeal court for redress, arguing that the amount was too low.
MTN’s legal team also cross-appealed, saying the total deductions from the claimant amounted to about N14,000 and that the N300,000 award was generous.
Governor Douye Diri of Bayelsa State has narrated how former President Goodluck Jonathan’s political calculations influenced his political journey to the National Assembly and eventually his present office.
Speaking at a service of songs in honour of late Madam Ani-Gunn Rhoda Ikiogha, mother of a former Chief of Staff and Commissioner for Agriculture in the state, Chief Diekivie Ikiogha, in Yenagoa, also attended by Jonathan and his wife, Diri recounted how the former president’s decision altered his political ambition at some point but became a blessing in disguise.
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He stated that Ikiogha and himself had been political sons of Jonathan even before he became president and worked together until their political interests failed to align.
“I have come a long way with Chief Ikiogha. We worked together at some point when he was Chief of Staff, Government House and I was Deputy Chief of Staff. We have been in politics over this period mostly working together.
“But there was a time he left me because we had a conflict of interest. We were very clear on what we wanted, and then our leader was in Abuja as president. So we plotted our political graph with the former governor, Senator Dickson, who was our boss here.
“We agreed that I should go to the Senate and Chief Ikiogha to the House of Reps. We even bought our party’s nomination forms. But we knew that our boss in Abuja will have his own agenda, which we cannot stop and can only collapse ours into his plan.
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“Eventually the former president came with his agenda and it consumed all of us. We had agenda number two and that was when my friend, Ikiogha, disagreed with me and for the very first time we parted ways.
“That agenda was what paved the way for me to be elected as a member of the House of Reps (in 2015) by virtue of the Senate position being zoned to Yenagoa, and Ikiogha could not get the ticket.“
Diri however noted that Ikiogha contributed greatly to his re-election in 2023 to the point of being a target of the opposition, who attacked his residence because he left their camp to work for him.
He stressed that in all that transpired, the late Ma Ikiogha was a rallying point for her son and his political associates, including those in the opposition, noting that she was always accommodating.
He urged the family to take solace in the fact that she left glowing legacies as a devoted Christian and that her life was being celebrated for touching lives in different ways.
In his tribute, Dr. Jonathan said the late nonagenarian was a mother to him and others that were close to her son.
He recalled that when Bayelsa was first created, she accommodated many who usually traveled from Port Harcourt to Yenagoa in her home.
Jonathan described her as a kind and generous woman, who received him and his close associate, King Amalate Turner, like her blood relations and that she lived such exemplary life until her last days on earth.
The former president equally recounted how after losing the presidential election in 2015, she was so saddened by the outcome that she starved herself of food for days.
He thanked God for sparing her life till the age of 91, adding that her little contribution to society will last the test of time.
In a sermon titled: “And She Died,” a cleric with the Redeemed Christian Church of God, Pastor Amos Tubogbo, said in life, one might have the impression of living right but was not so in the sight of God.
Pastor Tubogbo noted that unless an individual lives according to the word of God, he or she will not be justified in the end.
The chief mourner, Dr. Ikiogha, appreciated those that identified with his family in their moment of grief, particularly the former president, his family, the state government for its support as well as the RCCG family.
He said his mother was being buried according to her wish to have a church crusade organised in her honour at the Kpansia Primary School field in Yenagoa.