Governor Caleb Mutfwang of Plateau State has blamed the current economic hardship being faced by Nigerians on the last administration led by Muhammadu Buhari.
The governor alleged that Buhari supervised the printing and sharing of about N30 trillion.
Mutfwang stated this during the swearing-in of 22 Special Advisers and heads of government agencies at the Government House in Jos.
Mutfwang said Buhari left the country’s economy in terrible shape for his successor, President Tinubu.
“We are at a very difficult juncture in the history of this country and I’m an advocate that after the election you forget politics and face governance,” Mutfwang said.
“And even though the Federal Government is being led by a party other than my own, I owe you the duty to tell Nigerians the truth that this government inherited a worse situation than 1999.
“This government inherited an economy where we simply printed money up to the tune of N30tn and shared.
“This government inherited an economy where the crude oil we’re yet to take out of the ground had been sold in advance.
“So, when you’re talking about the fall of the naira, it’s not rocket science. We sold our future under the last administration.
“No wonder you’re hearing of riots today, people intercepting food on the way. We are lucky on the plateau that perhaps we have more food than many other states.
“And I pray that the time will not come on the Plateau that we will see this kind of riot for food, but it means we must roll up our sleeves and get to work.
“And that is why, for us as a government, when we announced one of the positions that talked about food security, people were laughing but it is a serious issue.”
The governor announced plans by his administration to set up a special agro-processing zone in the Barkin Ladi Local Government Area in partnership with the African Development Bank to the tune of $300 million.
He called on the new appointees to brace up for the challenge to enable his administration to reverse the ugly situation for the good of the people.
“And to tell you that some of the appointees, I don’t know them, but because we want to get things done, we’re looking for the right people,” he said.
He served as President for 8 years without record of visiting any European country for medical reasons - Shehu Sani eulogises Obasanjo at 87
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Former Kaduna Senator, Shehu Sani, has felicitated ex-Nigerian leader, Chief Olusegun Obasanjo for marking his 87th birthday on Tuesday.
The ex-senator said Obasanjo survived the Civil War that lasted between 1967 and 1970, and came out from imprisonment from 1995 to 1998 under former military ruler, Gen Sani Abacha.
The former federal lawmaker showered praises on Obasanjo for returning the country to the democratically elected government of the Second Republic in 1979.
Sani who made these known via his X account on Tuesday added that the former president is endowed with special strength even as he governed for eight years without seeking any medical tourism.
He wrote, “Obasanjo midwifed the second republic in 1979 where Shagari, Awo, Zik, Aminu Kano, Waziri Ibrahim and later Braithwaite strongly led that season. The great men all died and Obasanjo is still alive.
“With the exception of Jim Nwobodo and Awwal Ibrahim now an Emir, all the Governors of the Second Republic have died, Obasanjo is still alive.
“He was Nigeria’s President 17 years ago and he can still play soccer, dance and send missiles he calls letters. He survived the Civil War, survived the prison and survived the Presidency.”
“He served as President for 8 years without record of visiting any European country for medical reasons,” he stated.
Speaking about the octogenarian’s physical and mental stability, Sani said though he was a senior to Obasanjo when they were in the KiriKiri prison, he remained strong and resilient as an old soldier man.
Sani said, “I was his senior in Kiri Kiri maximum security prison in 1995, when we were all charged for treason and sentenced to life imprisonment and later reduced to 15 years by the Abacha military tribunal. In prison, he remained strong as an old soldier.”
“What could be the secret behind the resilience, enduring spirit and longevity of Obasanjo? Nigerian medical scientists should help us with this answer.”
“I know not of anyone who is detribalised and so passionate about Nigeria and the African continent than Obasanjo and some of his contemporaries,” he added.
“Happy 87th Birthday to Ex-President Obasanjo!” Sani remarked.
“Nigeria endured bloodbath, free reign of killings under Buhari’s administration” – Popular cleric says
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The Chaplain of the Chapel of The Resurrection at the University of Ibadan, Venerable (Dr.) Victor Oladele has criticized the security situation in Nigeria, highlighting incidents such as the Kaduna bombing and the Plateau massacre.
In a statement titled “Reflection on the State of Nigerian State: Ominous Signs of Repeat of Failure,” Oladele called on President Bola Tinubu to address the rising insecurity in the country.
He condemned the bloodshed, killings by militias, and public executions during the eight years of Buhari’s administration.
Oladele urged the government to prioritize justice and warned against playing politics with the lives of Nigerians, emphasizing the need to enforce constitutional rights for all citizens.
His words: “For the eight years of Buhari’s administration, Nigeria endured bloodbath, free reign of killings by Fulani militias, open beheading by religious extremists, and public executions in the name of God.
” The chapel is dismayed by the resurgence of brutality against defenceless Nigerians, the mindless slaughter of innocent women and children and the orgy of burning of communities in the Middle Belt by soulless entities devoid of human feelings.
“This evil bloodletting and human sacrifice must stop. The political class must stop playing politics with the lives of Nigerians.
“All lives matter, no matter their ethnicity, religion, gender and social class.”
Many Nigerian citizens are crying out over the hike in the cost of living, as prices of food items, building materials, and other essential services soar.
Some parents told DAILY POST they could only feed their family members once daily.
Prices of commodities, including foodstuffs, have been majorly affected by the fluctuation of the exchange rate and inflation.
This was affirmed by the United Nations World Food Programme, WFP, wherein, it announced its reviewing its local food procurement.
A statement by the UN’s Country Director and Representative in Nigeria, David Stevenson on Tuesday said: “Last week, a WFP monitoring mission in Borno, Yobe, and Kano states confirmed unprecedented inflation rates, and high food price rises caused by market speculations.
“This poses significant challenges for Nigerians, particularly those who are displaced, are unable to farm, and are dependent on markets to access food.”
A recent survey indicated that a popular food eaten in most Nigerian homes, noodles, witnessed a surge in price ranging from N17,500 to N18,000 per carton (120g super pack) from N11,140 it sold earlier in February this year.
The survey carried out by DAILY POST on Saturday in Wuse, Dutse and Utako markets showed that prices of noodles increased by 38.1 per cent in two weeks.
The new price represents a N12,500 (67 per cent) increment compared to the N6,000 per carton it was sold in February last year.
Also, the price of a bag of sachet water popularly called “pure water” increased from N250 to about N500 and N700.
Commenting on the situation, a school teacher based in Makurdi, the Benue State capital, who gave her name as Tolu, lamented the current hardship.
She told DAILY POST that: “The economic hardship is telling on everyone; we can barely eat; when we eat once daily, we thank God for that.”
She also lamented that the high cost of living was taking a toll on the academic sector as schools were planning to hike their fees.
“Most schools have already increased their fees at the beginning of the session, so I don’t know if there will still be a further increment,” she added.
In a similar vein, an online beauty vendor, Deborah, lamented that it was affecting her business and lifestyle.
“The economy has been going from bad to worse in the recent weeks and the only way my family and I have been managing is by cutting down on our spending, thereby, getting only items that are necessary.
“As for feeding, we have been eating only twice a day, which is in the morning and then at night,” Deborah told DAILY POST.
An Abuja-based barber, Anas also lamented that Nigerians were struggling to feed.
He told DAILY POST: “The hardship now is tough and families are finding it difficult to feed, we are just managing.
“At this point, some men have abandoned their wives due to the prevailing economic situation. It appears the government has no solution to the problem.”
Also, while stressing that the economic hardship was taking a toll on his family, an Okada rider, who identified himself as Musa, said it had become unbearable.
“Everything is expensive in the market now; I’m just managing to feed my family once daily from the little I make from my work.
“Tinubu’s administration is worse than Buhari’s regime.
“Even garri, which used to be a common food, has never been this expensive,” he told our correspondent.
Anthony Joshua and Francis Ngannou are set to become significantly richer once their fight in Saudi Arabia is done and dusted later this week.
The two are all set for their contest this Friday and there are tens of millions set to pour into their accounts, no matter who wins.
It’s an important fight for both men, with AJ looking to set up a huge 2024 in which he hopes to become world champion again, while his opponent will want to build on his first professional match against Tyson Fury.
The UFC icon stunned the world when he knocked Fury down before controversially losing via split decision.
It should be a great contest between two men who have stated they plan to be aggressive, and they will both be a whole lot wealthier once the contest is over.
The official figures for the purse and prize money have yet to be confirmed.
However, what is guaranteed is that Ngannou and AJ will make millions from this fight.
The Cameroonian will take home $20million, which works out to around £16m.
This would be the most lucrative fight in his career by a distance and would be double what he earned against Fury.
This purse fee doesn’t include any pay-per-view money or fees for winning or lasting the full distance etc.
So, it’s possible Ngannou could earn well over £20m for a maximum of 30 minutes in the ring.
Meanwhile, this is also set to be one of Joshua’s most lucrative fights.
Reports suggest he will earn nearly £40m.
Again, this doesn’t include PPV fees or any potential prize money.
These figures have not been made public yet, so things could slightly change.
However, what is clear is that Joshua will earn significantly more than Ngannou.
Some might think this is unfair, but the Brit is the more experienced boxer and former two-time unified world champion, so commands a bigger fee.
Meanwhile, this is just Ngannou’s second professional boxing match.
22-Year-Old Kano Keke Rider Who Returned Missing N15m Gets N250m Scholarship Upto PhD Level Of Education
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In what looked like a competitive gesture, the 23-year-old Kano-based commercial Tricyclist, Awwalu Salisu, who returned a cash of N15million left in his tricycle by a Chadian businessman in 2023, has been offered a scholarship upto PhD level of education to the tune of N250million.
Awwalu was celebrated by LEADERSHIP Media Group on Tuesday at its annual conference and awards ceremony as the winner of its ‘Outstanding Young Person of the Year 2023’ Award due to his rare act of honesty.
A fellow awardee and presidential candidate of the Labour Party (LP), Peter Obi, who was honoured as the LEADERSHIP Politician of the Year 2023, was the first to offer Awwalu scholarship at the Abuja-based Baze University up to PhD level.
Thereafter, Niger State governor and co- winner of LEADERSHIP Governor of the Year Award, Mohammed Umar Bago, jocularly reacted by saying Labour Party cannot be allowed to outshine the ruling All Progressives Congress (APC).
Bago consequently announced a N250m scholarship award to Awwalu to appreciate his act of honesty and to encourage other young Nigerians to imbibe the virtue.
He said Awwalu will get N50m scholarship each from him personally, President Bola Tinubu, his Ministers, APC Governors Forum and Niger State government.
Bago added that he would name one of road projects he was undertaking in Niger State after the Kano Keke rider.
Many users of Liquified Petroleum Gas (LPG) also called cooking gas in Lagos went in search for the commodity as many marketers ran out of supply, despite NLNG confirmation that it supplies 1.5 million metric tons of LPG to the Nigerian domestic market.
As at Friday March 1, the price of the commodity soared to as much as N1,300 per kilogram, LEADERSHIP findings reveal.
This is even as the Nigeria Liquified Natural Gas(NLNG) Limited, has advocated increased consumer awareness, especially, in rural areas, on the use of Liquified Petroleum Gas (LPG) also called cooking gas to drive up utilisation and reduce associated risks from using biomass for cooking.
The company further clarified that it annually provides close to 500,000 metric tons of LPG to meet market demands.
This is in pursuit of its commitment to deliver 100 per cent of its LPG production to the domestic market, a decision made by the company’s board of Directors in 2022.
This is coming as the price of the commodity further escalated as most outlets on Friday in Lagos ran out of supply.
This further aggravated the situation leading to long queues at refilling plants with most Nigerian National Petroleum Company, NNPCL, retail outlets were dry.
Some marketers like TotalEnergies where a few outlets sold to customers were selling at N1,300 per 1kg.
Customers were forced to buy limited quantities as they didn’t envisage a sudden arbitrary increase.
In 2023, NLNG supplied 493,000 metric tons of LPG to the domestic market. In the preceding years, NLNG delivered 498,000 metric tons in 2022 and 399,000 in 2021. Currently, NLNG caters for 30 per cent of the total LPG demand in the country which is currently estimated to be about 1.5 million metric tons.
The NLNG maintains a firm commitment to supplying LPG to the domestic market. Additionally, the company remains focused on promoting increased gas utilisation within the country and raising awareness about the use of clean gas for cooking to mitigate health risks associated with firewood usage.
The company said it takes pride in its role in the LPG sector, facilitating the entry of more stakeholders into the LPG value chain and encouraging investments in infrastructure development to bolster sectoral growth. This endeavour has contributed to the creation of additional employment and business opportunities in Nigeria.
At the National Oil Companies Forum on Day Three of the 7th Nigeria International Energy Summit (NIES), the company’s general manager, Finance, Mrs Fatima Adanan, underscored the need for a campaign that aims to transition biomass users to LPG for cooking in the market. She said the goal is to increase LPG usage in Nigeria, thereby altering the current energy mix and achieving deeper penetration of LPG.
She stated that the total market consumption in Nigeria is about 1.5 million metric tons with potential to increase exponentially.
NLNG supplies close to 500,000 metric tons to meet the market’s demand, fulfilling its commitment to supply 100 per cent of its LPG production to the domestic market.
Adanan emphasised that NLNG was doing everything within its power to make the product available and affordable, selling the LPG at a competitive price with payments made in Naira.
She said the company was ready to work with stakeholders to deepen LPG utilisation and called on indigenous companies to participate actively in the distribution network and contribute to a robust value chain.
She stressed that NLNG remains committed to promoting the adoption of cooking gas as a superior and environmentally friendly cooking fuel, aiming to safeguard consumers and the environment from the risks associated with alternative fuels, which aligns with its environmental safety priorities.
Former President Olusegun Obasanjo, on Tuesday, insisted that African countries must jettison Western Liberal democracy for African-style democracy, insisting that only this would stop politicians from winning elections by “hook or crook”.
Obasanjo said the adoption of Western liberal democracy gave room for electoral malpractice and encouraged politicians to win elections by “hook or crook” with the judiciary being incapacitated.
The former President spoke in Abeokuta, Ogun state, at an event organised to mark his 87th birthday.
Obasanjo at the event launched the Olusegun Obasanjo Leadership Institute (OOLI), an arm of the Olusegun Obasanjo Presidential Library (OOPL) and his new book titled: “The Art of Leading: Unconventional Wisdom from Biblical”.
The event was attended by former President Goodluck Jonathan, the Catholic bishop of Sokoto, Mathew Kukah, governors Dapo Abiodun (Ogun), Caleb Manasseh Mutfwang (Plateau) and Douye Diri (Bayelsa); former President of Ghana, John Mahama and former governor Osun state Olagunsoye Oyinlola.
Obasanjo who argued that Western democracy is not relevant to our culture and history, said Africa needs to adopt a form of democracy that is “sufficiently African in content” that will recognise African culture and history.
“We have inherited liberal democracy from the West because they are the ones who colonised us and they only gave us what they had.
“Now, I believe that when we are able to have democracy that is African in content, sufficiently African in content, in culture and in history and in practice, the sort of thing that happened in Plateau state recently will not happen because the idea of ‘well, we will win by hook or by crook, you go to court, there will not be the question of going to court because you won’t have to win by hook or by crook, you will have to settle it the way we settle things in Africa before liberal democracy’.
“Let me say two or three things about this liberal democracy, they (West) have something they called loyal opposition. I have researched African languages for the meaning of opposition, the meaning in almost all African languages is enemy, how do you have a loyal enemy?
“So what they have given to us does not make sense in the African context, African way we have consensus, we sit under the tree and we iron it out and we then decide okay, this is the way it will go, there is no opposition, but they (West), they have loyal opposition because they came out of monarchy and you can be loyal to the monarchy.
“We are rethinking liberal democracy because if it is relevant to their culture and their history, what they have given us is not relevant to our culture and to our history”, Obasanjo said.
The former President also stressed the need for recruiting “selfless and transformational” leaders to take over the mantle of leadership from those he described as “transactional” leaders.
He said: “Leadership is preeminent in anything we do and if leadership is preeminent in anything we do, how do we recruit, how do we train, how do we nurture leaders in all works of life? Leaders that will be transformational instead of transactional, leaders that will be servant leaders, sacrificial.
“In addition to writing a book and talking about it, can it be taught, can leadership be taught? Can we look at where leadership had worked I believe that for me we cannot go farther than in the Bible.
“But, also if it can be taught, what do we need to teach, what do we need to inculcate, what do we need to make people absorb leadership tenets, leadership principles and factors that will make us move fast and move far together and that is what OOLI is about”.
In his remarks, former President Goodluck Jonathan lamented that democracy in Nigeria is faced with a lot of challenges such as greed in leadership, tribalism, nepotism, social vices, access to justice, human rights issues and quality of elections.
The former President of Ghana, John Mahama called on African leaders to practise all-inclusive democracy which according to him allows for the views of the opposition.
Mahama said, “Most African countries hold elections regularly now. You will find out that one leader will take one step forward, one leader may take one step or two steps backwards and even another leader will keep us standing still.
“Effective leadership is therefore important and it is one that continues to make progress even in the face of challenges.”
The Economic and Financial Crimes Commission (EFCC) has intercepted 21 food trucks heading to neighbouring countries.
Announcing the seizure in a statement on its X handle on Tuesday, the anti-graft agency said the items were heading towards N’djamena, Chad Republic, Central African Republic, and Cameroon.
The seizure was made by operatives of the EFCC Maiduguri Zonal Command, it said.
“The trucks were intercepted in a sting operation at major exit routes along Kalabiri/Gamboru Ngala and Bama roads, Borno State,” the statement read.
“Investigation showed food items cleverly concealed in the trucks that would have gone undetected but for the eagle-eyed vigilance of operatives of the Commission.
“Further checks showed that the Waybills covering the goods carried by trucks indicated their destinations as N’djamena, Chad Republic, Central Africa Republic, and Cameroon respectively.
The commission stated that the arrest of the trucks is expected to stem the tide of food insecurity occasioned by unscrupulous antics of smugglers across the country.
Noting that the arrested suspects are being profiled, the agency vowed to charge them to court as soon as investigations are concluded.
The seizure is coming on the heels of the rising cost of food items in Nigeria. With inflation reaching 29.90 percent, the cost of living has reached the rooftops, prompting pockets of protests in several parts of the country.
The official exchange rate of the naira against the dollar ended its three-day winning streak, falling by 4.26% to N1602.43 per US dollar on Tuesday, March 5, 2024, compared to N1534.19/$1, according to data published by FMDQ.
This decline coincides with the announcement from the cryptocurrency trading platform Binance that it will cease trading activities involving the Nigerian currency.
The drop on Tuesday marks the first in three days, indicating that demand pressures persist in the forex market as supply remains insufficient.
FX Rates across markets
According to data from the Nigeria Autonomous Foreign Exchange Market (NAFEM), where forex is officially traded, the domestic currency depreciated by 4.26% at the end of trading, closing at N1,602.43 to a dollar at the close of business.
- This represents a loss of N68.24 compared to the N1,534.19 closing on Monday.
- The intraday high was N1,652.40/$1, while the intraday low was N1,450/$1, representing a spread of N202.40/$1.
- According to data obtained from the official NAFEM window, forex turnover at the close of trading was $291.78 million, representing a 63.26% increase compared to the previous day.
- Forex turnover has averaged over $200 million in the past week as trading continues to pick up in the official market.
Meanwhile, on the parallel market, the Naira depreciated against the dollar as it was quoted for N1,630/$1, reflecting 1.84% compared to the previous day’s quote of N1,600.
- The Great British Pound (GBP) depreciated by 7.32% to close at £1/N2050 as against £1/N1,900 the previous day.
- Additionally, the Naira weakened against the Euro by 0.57%, trading at N1750/EUR1 compared to N1740/EUR1 reported the previous day.
At above N1,600/$1, the exchange rate between the naira and dollar is down by 43% in 2024 and remains one of the worst currencies in Sub-Saharan Africa. This is despite several policy measures introduced by the apex bank to resolve the forex crisis.
Officials close to the central bank have often cited the activities of cryptocurrency traders as a major contributory factor to the exchange rate depreciation. Critics of this government stand will point to the depreciation of the naira as further evidence that the naira is inherently weak with or without the activities of cryptocurrency traders.
[Nairametrics]
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Manchester United are being considered as the frontrunners to sign Napoli forward Victor Osimhen in the summer.
United face stiff competition from Paris Saint-Germain, who reportedly want to make a statement in the summer transfer window.
The Red Devils will also have to compete with fellow Premier League sides Arsenal and Chelsea to secure the signature of the Nigerian star.
The Nigeria international, who has netted 13 goals in 22 matches across all competitions for Napoli this season while also providing four assists, has a €110m (£94m/$119m) release clause in his existing contract.
For now, the striker remains focused on the Italian side and will be next seen in action for them on Friday when they take on Torino in Serie A.
[Leadership]
The Federal Inland Revenue Service, on Tuesday, kicked against the imposition of additional taxes and levies on business owners to raise money for funding the Child’s Online Access Protection Bill.
The FIRS Chairman, Mr Zacch Adedeji, represented by Mr Mathew Osanekwu, made this known when he appeared before the House Committee on Justice in Abuja on Tuesday.
The News Agency of Nigeria reports that the committee is holding a public hearing on a bill to provide for the Child Online Access Protection Bill 2023.
This bill also included other issues of online violence against Nigerian children and related matters.
Adedeji said the FIRS had already been given a target, and instead of levelling additional burden through taxation to fund the bill to become an Act, it should be funded through appropriation.
“The impression we have is that the funding will be through a levy. We already have eight different levies, and I advised that the funding should come by way of appropriation,” Adedeji said.
He added that this became necessary since FIRS was charged with collecting revenue for the government.
Speaking in support of the bill, he said: “Our position is that FIRS fully supports the bill, and its intention is a great initiative.
“We have to adopt global best practices; we observed that funding to make it happen is also in the bill, and in this, we have raised issues,” he said.
The Deputy Director, Legal, Nigeria Communication Commission, Abang Abua, who represented the commission’s Chief Executive Officer, Dr. Aminu Maida, said the commission was concerned about the method of funding in the form of taxation.
“We are concerned about tax because our operators are already inundated with taxes,” he said.
He said the commission had been very active in child online protection and had deployed child line protection protocol.
Also speaking, the Deputy Director, Legal, National Human Rights Commission, Ms Pwadumoi Okoh, who represented the chairman, said the bill was a proactive step to ensure the rights of children were protected.
She, however, said the NHRC had observed some errors in the bill and submitted its inputs to the House.
“We suggest that the committee should explore some other relevant Nigerian laws instead of duplicating efforts in agencies where such laws exist.
“We should look at other Acts of the agencies of government that have similar mandates so as not to have interagency rivalry.”
Usman Kumoh (APC-Gombe), who represented the Speaker of the House of Representatives, Tajudeen Abbas, said the House would continue to protect the rights of the child.
“We will continue to protect the interests of the children on a moral and legal basis. All hands must be on deck to protect children from being harmed.
“Nigeria cannot live in isolation in the digital world, and our children must not be exposed to the dangers of the internet,” he said.
He said the bill must be done collaboratively between parents, and service providers.
This, according to him, ensures that children are protected and adults will not be able to take advantage of their rights.
He said the bill was not targeted at taxing anybody, adding that what the House was demanding was to take part of the existing money to fund the bill.
The Chairman, House Committee on Justice, Olumide Osoba, said the bill was straightforward, adding that it was meant to ensure that service providers safeguarded the Internet for children.
Osoba said the FIRS should be more interested in protecting the Nigerian child than in tax collection.
NAN reports that other stakeholders that appeared at the committee sitting included the Ministry of Women Affairs and the Data Protection Agency, among others.
[Punch]
Anthony Joshua and Francis Ngannou are set to become significantly richer once their fight in Saudi Arabia is done and dusted later this week.
The two are all set for their contest this Friday and there are tens of millions set to pour into their accounts, no matter who wins.
It’s an important fight for both men, with AJ looking to set up a huge 2024 in which he hopes to become world champion again, while his opponent will want to build on his first professional match against Tyson Fury.
The UFC icon stunned the world when he knocked Fury down before controversially losing via split decision.
It should be a great contest between two men who have stated they plan to be aggressive, and they will both be a whole lot wealthier once the contest is over.
The official figures for the purse and prize money have yet to be confirmed.
However, what is guaranteed is that Ngannou and AJ will make millions from this fight.
The Cameroonian will take home $20million, which works out to around £16m.
This would be the most lucrative fight in his career by a distance and would be double what he earned against Fury.
This purse fee doesn’t include any pay-per-view money or fees for winning or lasting the full distance etc.
So, it’s possible Ngannou could earn well over £20m for a maximum of 30 minutes in the ring.
Meanwhile, this is also set to be one of Joshua’s most lucrative fights.
Reports suggest he will earn nearly £40m.
Again, this doesn’t include PPV fees or any potential prize money.
These figures have not been made public yet, so things could slightly change.
However, what is clear is that Joshua will earn significantly more than Ngannou.
Some might think this is unfair, but the Brit is the more experienced boxer and former two-time unified world champion, so commands a bigger fee.
Meanwhile, this is just Ngannou’s second professional boxing match.
[Vanguard]
Bitcoin traded at $69,191, surpassing its previous record of $68,991, reported in November 2021.
However, shortly after the price surge to the record high, the cryptocurrency declined to $64,941.37 as of the time of filing this report.
The cryptocurrency has been on a bullish run, recording a 14.63 percent rise in the last seven days, and a significant surge of over 191.03 percent in the last year.
Similarly, some major altcoins are rising steadily in the last 24 hours, with Ethereum climbing 3.17 percent to $3,673.12, while Solana rose by 5.46 percent to $134.94.
The crypto market capitalisation has increased by 54.10 percent to $222.06 billion within a day.
According to reports, the record is buoyed by the largest cryptocurrency becoming more accessible for trade as supplies tighten.
Meanwhile, the development comes amid the federal government’s clampdown on the crypto exchange over regulatory contraventions in Nigeria.
Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, on February 21, 2024, said Binance and other cryptocurrency platforms should be banned from operating in the country.
Also on February 27, 2024, Olayemi Cardoso, governor of the CBN, said $26 billion passed through Binance Nigeria from unidentified sources in one year.
Cardoso said the apex bank is collaborating with the Securities and Exchange Commission (SEC) to ensure there is no manipulation in the FX market.
On March 1, 2024, the federal government reportedly demanded at least $10 billion as a settlement from Binance for profiting from “its illegal transactions” in Nigeria — days after two top executives of the crypto platform were detained.
Following the restraint on its operations in the country, on Tuesday, Binance Nigeria announced plans to cease all naira transactions, from March 8, 2024.
[TheCable]