The International Monetary Fund (IMF) has warned that the widespread adoption of cryptocurrencies could undermine and pose serious consequences for the macro-financial stability of countries.
The Bretton Woods organisation stated in a presentation by its Managing Director, Kristalina Georgieva during the International Conference on Digital Money held in Seoul, South Korea.
She stated that the rise in bitcoin prices since April coupled with the widespread adoption in emerging economies like Nigeria and Brazil is a testament that cryptocurrencies will endure into the future and one policymakers will have to deal with.
- She said, “For one, crypto assets are not going away. Bitcoin is trading at its highest value since April 2022.
- “Also, crypto asset adoption is high especially in emerging market economies like India, Nigeria, and Vietnam, according to Chainalysis.
- “The challenge is that high crypto asset adoption could undermine macro-financial stability.”
She warned further that another danger of the widespread adoption of cryptocurrency assets is the difficulty in policy transmission as only a few people hold these currencies.
Other dangers of crypto as outlined in her speech include; difficulty in managing capital flow, and the danger of undermining fiscal sustainability as tax collection could be more difficult to enforce.
- She said, “That is a future we all want to avoid.”
Regulation on cryptocurrencies
The IMF Chief further called for adequate regulation of the crypto industry to check against money laundering, terrorism financing and tax evasion.
She stated, “Clarify and consistently apply laws, standards, and regulations including for anti-money laundering and financing terrorism. Establish clear tax rules. Provide a solid legal foundation with a clear classification of crypto assets.”
Ms. Kristalina Georgieva sternly warned countries never to allow cryptocurrencies to become legal tender or official currencies and noted that consistent legislature, private sector infrastructure and policy collaboration could enable countries to reap the benefits of the innovation.
She said, “Among the main elements: do not make crypto assets legal tender or official currencies.”
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The adoption of cryptocurrency is on the rise in Nigeria, driven by the challenges of a depreciating currency and escalating inflation in Africa’s largest economy, according to a report from New York-based blockchain research firm Chainalysis.
Between July 2022 and June 2023, Nigeria experienced a 9% year-over-year increase in cryptocurrency transactions, reaching a total volume of $56.7 billion.
[Nairametrics]
Laolu Akande, an ex-aide to former vice president Yemi Osinbajo has faulted the Federal Capital Territory Minister, Nyesom Wike for failing to manage his successor, Fubara Siminialayi.
Faulting the FCT minister while speaking on Channels TV’s Politics Today on Thursday evening, Akande said that he was disappointed that the FCT Minister could not properly manage Fubara who was his anointed candidate at the 2023 Rivers governorship election.
Akande argued that the responsibility to contain the situation was more on Wike than it is on Governor Fubara.
“It is disappointing that the FCT minister (Nyesom Wike) is not managing his ‘anointed governor’ (Siminalayi Fubara) as the responsibility is more on him than the governor,” Akande said.
Naija News reports his remarks come as several political juggernauts in the country have failed in several attempts to resolve the conflict between Governor Fubara and the FCT minister, and as members of Governor Fubara’s cabinet continue to resign.
The Rivers State Finance Commissioner, Isaac Kamalu earlier on Thursday, resigned from the cabinet of Governor Siminalayi Fubara.
Kamalu pulled out of the cabinet on Thursday amidst the gale of resignations that have affected Rivers State in the wake of the political crisis rocking the state.
Apart from Kamalu, Naija News reports that other Commissioners have also resigned from Fubara’s cabinet within the last twenty-four hours.
Those who have resigned include the Rivers State Commissioner for Social Welfare, Mrs. Inime Aguma, the Rivers State Commissioner for Works, Dax George-Kelly, the Attorney-General and Commissioner of Justice in Rivers State, Zacchaeus Adangor, the Rivers State Commissioner for Special Projects, Emeka Woke.
The ECOWAS Court of Justice, on Thursday, dismissed a suit by a Nigerian, Richard Ugbah, asking the court to order the United States of America government to allow him to complete his jail sentence in Nigeria.
Ugbah is serving a 12-year jail term in the US after he was convicted on February 14, 2017, of wire fraud.
He has served eight years of the sentence and will be due for release on May 8, 2026.
In the suit marked: ECW/CCJ/ APP/ 18/21, Ugbah urged the court to order his repatriation to Nigeria, having satisfied the conditions for transfer in the United Nations Office on Drugs and Crime Handbook on the International Transfer of Sentenced Persons.
However, in a preliminary objection, the Federal Republic of Nigeria contended that the application was incompetent and against the provision of Articles 9 and 10 of Article Supplementary Protocol.
The FG noted that the Ministry of Justice, which was the second respondent, was neither a community institution nor a signatory to the ECOWAS Treaty.
It, however, urged the court to dismiss the application, adding that the court lacked the jurisdiction to entertain the matter.
Reading the lead judgment, Justice Sengu Koroma held that the court lacked jurisdiction to hear the matter.
The court also stated that the applicant had not shown a valid reason for their complaint against the respondent.
“The matter of competence is a legal issue and the argument presented by the applicant has no legal basis vesting the court with the authority to hear and determine the case,” the court held.
[Punch]
Veteran Nollywood actress, Joke Silva, has claimed the Nigerian First Lady, Oluremi Tinubu, is the most experienced female politician in the country’s politics.
Naija News reports that the movie star made this known during an interview on TVC, while expressing discontent over the exclusion of women from leadership positions in Nigeria, especially in the political sector.
She said women were at the forefront of leadership in the pre-independent era in Nigeria but have recently lost grip on leadership.
Joke Silva added that it was high time for Nigeria to have at least a democratically elected female Governor.
She said: “In the area of leadership, especially political leadership, women have regressed. I mean, we had some really powerful women. You mentioned Fumilayo Kuti earlier. All these powerful women. There were so many of them spread around the nation. So, you expect them to grow in numbers by now.
“At least by now, we should have had a female governor. Mrs. Oluremi Tinubu for one, in contemporary Nigerian politics, is probably the most experienced female politician. She was just in the Senate for a long time and now she is the First Lady. But the thing is this: how many others? But we have so many male senators. It goes back to what late Chief MKO Abiola used to say: ‘A nation clapping with one hand.’ How do you clap? How is it heard?”
30-year-old Brazilian gospel singer, Pedro Henrique, is dead.
Naija News learnt that the singer collapsed and died on Wednesday night, while performing his song ‘Vai Ser Tão Lindo’ at a religious event that was being streamed online.
According to Daily Mail, the 30-year-old was engaging the crowd as he stood on the edge of the stage before losing his balance and suddenly fell in front of his band inside a concert venue in the northeastern city of Feira de Santana.
Some attendees immediately rushed to help the singer, while others looked shocked. Henrique was taken to a nearby clinic, where he was confirmed dead.
Speaking on the demise, Henrique’s record label, Todah Music, told a radio station, Radio 93, that the singer suffered a massive heart attack.
Mourning the singer, Todah Music, in a post via Instagram on Thursday, wrote, “There are very difficult situations in life, for which we have no explanation. We just need to understand that the will of God prevails!
“We believe Peter will have a prominent place in the great Heavenly Choir! The songs in his voice will not die and his legacy will live on through his wife, his daughter Zoe and so many lives that have been and will be reached by Christ through the records of his voice!”
The 30-year-old left behind a wife, Suilan Barreto, and a daughter, Zoe, born on October 19.
The two factions of the Rivers State House of Assembly flexed muscles yesterday, with both holding parallel sittings and passing bills.
The group of 27 lawmakers, who defected from the Peoples Democratic Party, PDP, to the All Progressives Congress, APC, yesterday, fought against the declaration of their seats as vacant by holding a parallel sitting.
No fewer than 25 of the legislators led by Martin Amaewhule met at the auditorium of the House of Assembly Quarters on Aba Road, Port Harcourt, sequel to the demolition of the Assembly building by the state government, passed some bills into law and condemned the demolition of the Assembly by Governor Siminalayi Fubara.
Two members of the G-27 reportedly returned to the PDP and the G-4 House before its sitting on Wednesday. However, one of them denied reneging on his defection.
On the same day, the Speaker Edison Ehie State Government-recognised G-4 House, whose membership had risen to five, passed within 24 hours, the Rivers State N800.3 billion 2024 budget that Governor Fubara presented, on Wednesday.
This came as the APC, which crowned Chief Nyesom Wike as the dean of Nigeria’s politics, said that Fubara’s presentation of the state’s 2024 budget to four lawmakers was contrary to the provisions of the law.
Amid the crisis, the Attorney General and Commissioner for Justice, Prof. Zacchaeus Adango, SAN, resigned his office on personal principles. Three other commissioners also resigned.
Parallel Assembly sits, passes Financial Autonomy bill, others
Holding what it called its 88th Legislative sitting, the Amaewhule-led House passed the Rivers State House of Assembly Funds Management (Financial Autonomy) Bill, 2023 after debating the Report of the House Committee on Public Accounts presented by Chairman of the Committee, Mr. Major Jack, who was recently elected leader of the factional House.
Commenting on the report of the committee, Speaker Amaewhule said that the Bill would provide for the management of funds accruing to the Rivers State House of Assembly from the Consolidated Revenue Fund of the state, adding the law would ensure accountability and efficient utilisation of funds.
The House also okayed the Rivers State Local Government Law, No. 5 of 2018 (Amendment) Bill, 2023 after a robust debate on the Report of the House Committee on Local Government presented by the Chairman of the Committee, Mr. Ignatius Onwuka.
Amaewhule said that with the passage of the amended Bill, elected LGA chairmen and councilors would be liberated from arbitrary removals and suspensions.
The legislators, via a motion, converted the Auditorium of the House of Assembly Quarters as their Chamber, and described the demolition of the Assembly building as heartless, adding that the state governor acted without approval and knowledge of the House.
The House, in a motion sponsored by 26 members and moved by Mr. Ofiks Kabang, representing Andoni Constituency, drew the attention of the Federal Government, the Inspector-General of Police and the International community, to Governor Fubara’s alleged constant attack on the Legislature of Rivers State.
Amaewhule said that the House would write to the United Nations and governments of other well known democracies on the actions of the governor against the legislature, stressing that no amount of harassment, intimidation and mindless attacks against them would make them shy away from their constitutional duties.
We gave due diligence to the budget — lawmakers
Meanwhile, the state House of Assembly, said they carried out due diligence before approving the 2024 budget.
The leader of the House, Mr. Adolphus Orubienimigha, who spoke while presenting the budget to Governor Fubara for assent, said members diligently deliberated on each item, and did careful consideration of the projects before passing the budget, and urged the governor to remain resolute in discharging the duties of his office.
Speaker Ehie noted that the budget figures and items as articulated were in line with current realities and demonstrated the resolve of Governor Fubara to provide more infrastructure, strengthen sectors such as education, health, youth empowerment and the economy to deliver optimal services.
Ehie promised that the legislature would continue to stand with Governor Fubara, by providing the required support that would secure success for the administration.
Fubara signs appropriation bill into law
An elated Governor Fubara signed the appropriation bill into law at Government House, Port Harcourt, yesterday, saying that with the budget providing a framework for spending in 2024, his administration would undertake notable critical road projects that would connect more communities across several local governments in the state.
Christened “Budget of Renewed Hope, Consolidation and Continuity,” Fubara said: “This budget shows that we have a plan for our dear state. One of the reasons our budget is in the volume of N800 billion is that we intend, not just by desire, to ensure that one key request of our dear state is met. God being our helper, we will commence immediately, by next year, flagging off the actual and main Trans-Kalabari road project phase 2.
“We have also, in our budget, provided to take care of the Elele-Omoku road project, a road that cuts through Ikwerre, Emohua and Ogba-Egbema-Ndoni Local Government Areas. We are also taking that project as one of our cardinal achievements of this administration. We are not going back on it.”
Fubara vowed that no effort would be spared in implementing in full the planned-out quality projects and services captured in the 2024 appropriation.
He emphasised that the budget would be driven in a manner that would make a positive impact on the lives of all residents of the state, adding that people of the state would see and feel development at their doorsteps.
“I want to assure you that this administration has the best interest of our people. It is an administration that wants everyone to have hope. We have keyed into the renewed hope agenda of our dear President Bola Tinubu to continue to assure our people of hope. The best of us will be seen by everyone.
“We will continue to protect the interest of our people, do the best for everyone, not minding your position or class. Our government is responsive and inclusive. Our eyes and ears are open to the needs of our people. We will not disappoint you.”
The governor commended the legislative arm of the state for its support for his administration, adding that God has continued to guide the lawmakers out of the challenges that have continually befallen them.
APC faults presentation of budget to four lawmakers
However, the APC has said that the presentation of the state’s 2024 budget to four lawmakers by Governor Fubara was contrary to the provisions of the law.
The Caretaker Committee Chairman of the APC in the state, Tony Okocha, in a statement in Port Harcourt, stressed that the governor’s action was unconstitutional.
Citing Section 120(2) of the Constitution, Okocha stated that no money shall be spent unless it is appropriated by the Rivers House of Assembly.
He warned that any expenditure made by the state government on the outcome of such a presentation was an infringement on the constitution and, as such, sufficient grounds to commence impeachment.
Okocha said: “The presentation of a bill to four suspended members of the House of Assembly does not fulfill the requirements of the constitution for all the reasons stated.”
He added that Section 92(2)C of the constitution provided that a speaker can be removed by a two-third majority of the House of Assembly, adding that there was no evidence to show that Mr Martins Amaewhule, the Speaker of the House, had been removed legally.
“Amaewhule remains the speaker of the House of Assembly. The lawmakers passed a vote of confidence in him. One-third of 31 minus the deceased member is clearly 11, and as such, four members can never form a quorum.
“Section 99 states that any member who sits or votes in a House of Assembly of a state, knowing or having reasonable grounds for knowing that he is not entitled to do so, commits an offense and is liable on conviction to such punishment as shall be prescribed in a law of the House of Assembly.
“Section 101 gives the House of Assembly the power to regulate its procedures, including summons and recess of the House. Section 105(3) also defines the role of the governor of the state. The governor shall have power to issue a proclamation for the holding of the first session of the Assembly.”
… crowns Wike Nigeria’s dean of politics
Describing the Minister of the Federal Capital Territory FCT, Nyesom Wike, as Nigeria’s Dean of Politics, Okocha blamed Fubara for the political crisis in Rivers.
Accusing the governor of fomenting trouble in the state, Okocha also defended the 27 Rivers Assembly members who recently defected to the APC, saying despite the governor’s demolition of the Assembly chambers, the majority lawmakers were free to sit anywhere and conduct their businesses.
He said: “You cannot place something on nothing and you expect it to stand. An illegality is an illegality. Let me also let you know that what makes an Assembly is not the structure but the human beings in that assembly.
“So, an Assembly can be moved anywhere provided the mace which is the symbol of authority is there. As of Wednesday, about 27 members sat and took far-reaching decisions on state matters. You will see all of them signed underneath those decisions.
“But, I tell you a thing, I read a philosopher called Frantz Fanon, he said the gift you give to an intransigent government is civil disobedience. So, there is a case of anarchy and it is within the ambit of the PDP.
“It is not like we have a breakdown of law and order but this is an internal wrangling in PDP. That they are moving and being allowed to be taken to the centre stage. I had warned the governor or rather advised him. I told him ‘you are opening your flanks to fifth columnists and they will feast.’ Today, he has left governance completely and began to chase shadows.”
On Wike, the APC chairman said: “I have wooed him personally. We have told him publicly to come over to Macedonia and help us. He is a political juggernaut and the Dean of Politics in Nigeria currently, not just in Rivers but in Nigeria at large. He is a force and that is why we won the presidential election after losing the three senatorial seats and all the state House of Assembly members.”
Adango resigns citing personal principles
While the Rivers Assembly crisis was heating up, a commissioner was quitting his job. The Attorney General and Commissioner for Justice, Prof. Adango, in a resignation letter dated December 14, he forwarded to the office of the state governor of the state, noted that his resignation was based on personal principles.
He thanked the governor for the privilege to serve in his administration, adding that he and his family were indebted to the governor.
The letter read: “ I hereby give your excellency notice of my resignation as the Attorney-General and Commissioner for Justice, Rivers State with effect from the date of this letter.
“For the avoidance of doubt, my resignation from the said office is based purely on personal principles. I wish to thank your excellency for the opportunity and privilege granted me to serve in your administration asa member of the cabinet. My family and I are indebted to your excellency in gratitude. I wish your Excellency a successful tenure.”
Alabo, Chinwenwo-Aguma, Woke also resign
Also, in the wake of the Rivers Assembly crisis, the Commissioner for Works, Dr. George-Kelly Alabo and the Commissioner for Social Welfare and Rehabilitation, Mrs Inime Chinwenwo-Aguma have resigned their appointments
The letter of resignation from Alabo sighted by Vanguard was dated December 14, and addressed to Governor Fubara through the Secretary to the State Government, SSG.
According to Alabo, his resignation was anchored on his conscience, personal philosophy and professional ethics, adding that the decision was taken after deep introspection.
“My decision to resign is anchored on my conscience, personal philosophy, and professional ethics. This decision was taken after deep introspection,” he said.
In her resignation letter, Aguma said her decision to resign was personal and based on other pressing commitments.
Also, the state Commissioner for Special Duties, Emeka Woke, tendered his resignation yesterday.
Woke, who was Chief of Staff under the former governor Nyesom Wike, confirmed his resignation yesterday.
He said: “Yes, I have resigned as the Commissioner for Special Duties today.”
Asked if there was any reason for his resignation, he said: “When you get the soft copy of my letter of resignation, you will get the reason.”
Save our democracy, end crisis in Rivers, ASAF begs Tinubu
Meanwhile, a group, the All Progressives Congress, APC, State Assembly Forum, ASAF, has urged President Tinubu to, as a matter of urgency, intervene and return peace to the warring factions of the Rivers State House of Assembly.
ASAF, in a statement by its Director General, Ambassador Fubara Dagogo, expressed concern over the development in the state, and called on President Tinubu “to call the principal actors in the crisis to order” and return peace in the state.
The forum in a statement at the end of its end of year Consultative engagement meeting, noted that President Tinubu needed an absolute peace in Rivers State to actualise his renewed hope agenda.
According to ASAF, the Rivers State Assembly crisis must not be allowed to fester, and degenerate to a state of anarchy which could extend to other states of the federation, and deal a heavy blow to the nation’s democracy.
ASAF is a forum of serving members of state Houses of Assembly, elected on the platform of the APC in the country.
Vanguard News
“The 74-year-old female complainant alleges that on December 6, at 11am, while she and her naughty son, the suspect, were relaxing at home, she quickly went to the bathroom. The mother left behind a handbag containing an undisclosed amount of money,” Thepa said.
“When she (the mother) came back, the son was nowhere to be found. Money was missing from the handbag. The mother said she is sure that the money was stolen by her son,”
The mother alleged that in the previous week, the 50-year-old son had stolen the memory card of her cellphone, and a two-plate stove.
At the time when he was confronted about the missing memory card and stove, the man denied having any knowledge of the property.
"The sick and tired parent registered a case of theft and the perpetrator was arrested and taken to the Daveyton police station. The detained suspect is expected to appear at the Daveyton Magistrate’s Court soon,” said Thepa.
Some residents of Lagos State have raised the alarm over the spike in cases of kidnappings in the state in recent times.
PUNCH Metro learnt that the incidents had largely been recorded on the Mainland, particularly in the Alimosho and Amuwo Odofin Local Government Areas of the state.
It was also gathered that wealthy people were the soft targets for the abductors who demanded huge ransoms.
Checks by our correspondent on Thursday also revealed that the significant rise in the trend became noticeable in the areas around August.
The most recent, however, is the abduction of a car dealer popularly known as Ejike Conversion in the Ladipo Spare Parts Market on Saturday night.
Ejike was said to have been taking an inventory of his newly imported goods in front of his plaza around 12 am when some armed men swooped in on him and his workers.
While his workers fled for safety following the sound of gunshots, Ejike was not so lucky as the armed men attacked him, dragged him into their vehicle and drove off.
A trader and member of the Board of Trustees of the market, who pleaded anonymity, confirmed the abduction on Thursday while noting that the development caught many traders in the market unawares.
“Yes, Ejike was kidnapped in the market on Saturday night. It is a surprise to many because it happened late in the night when almost every trader in the market had gone home at the end of business. The market closes daily at 6pm. He was abducted at his warehouse when he was taking delivery of his goods delivered from China very late in the night,” he said.
A source in the market who also spoke to our correspondent on the condition of anonymity, on Thursday, disclosed that the abductors had opened communication with the family as they demanded N500m.
The source said the family had since been negotiating for the reduction of the amount but they were yet to reach an agreement with the kidnappers.
“Ejike is still with the kidnappers. They are demanding N500m and the amount is too much. The family has been negotiating with them but they did not reduce the amount. They insisted on collecting the amount. He was kidnapped around 12 am in his office. The police had also been informed,” the source revealed.
In a similar development, a yet-to-be-identified businessman was allegedly kidnapped earlier this month in the Ago Palace area of the state while the kidnappers demanded a sum of N500m.
A project architect, Daario Naharis, while narrating his experience on Wednesday via his X handle (formerly Twitter), said he was almost abducted in the area in November where the abductors blocked his vehicle while in motion.
He wrote, “I had this experience firsthand last month in this same Ago. I was coming home around 12 am when some guys with 2.4 Camry blocked me on motion. I bashed into their back bumper, alighted immediately considering the way they drove and bolted away seeing four doors opening at instant.
“My saving grace was that I was riding on a heavier vehicle as the impact devastated them. Before they could reconcile it, I made a decision in a nanosecond and crossed to the other road. If they were just robbers, they would have ransacked or taken the vehicle along.
“I have never had the courage to speak about my experience that day except seeing this tweet, never knew what came into me to go into them with such speed which turned out to have saved me in that situation. Those guys were properly armed and casual.”
In what appeared like a syndicate, a group of unidentified armed men were said to have kidnapped the owner of a popular hotel located at Grandmate bus stop in the Ijegun area of the state in October. His family reportedly paid about N100m as ransom before he was later released.
Similar cases were recorded on Governors Road in Ikotun, Gowon Estate in Egbeda and other locations in the Alimosho Local Government Area as the victims were made to part with huge ransoms before they were released.
PUNCH Metro had reported that a 13-year-old girl, Miracle Adereti, was kidnapped by an unknown gang in the Ikotun area of Lagos State on December 1 on her way home from school.
The father, Segun Adereti, while lamenting the abduction of his daughter, said, “We had no inkling of such a wicked act by this gang, who falsely claimed that, as a politician, I have sufficient funds to secure my daughter’s release.”
“We’ve received threats warning us not to involve the police. But as a family, we are deeply distressed and have no choice but to seek help from law enforcement agencies,” he added.
A source within the police told our correspondent that only a few cases of kidnapping in the state were reported at the police station because of the threats by the abductors.
When contacted, the Lagos State Police Public Relations Officer, Benjamin Hundeyin, promised to confirm and get back to our correspondent. He had yet to do so as of the time this report was filed.
There’s no end in sight to the scarcity of cash across the country even as Point of Sale (POS) agents have jacked up their charges by 100 per cent, checks by Daily Trust have shown.
The scarcity of cash has persisted in recent times despite the Supreme Court judgement which ordered that the new and old notes should remain legal tender.
But the judgement has not addressed the raging cash scarcity as banks have limited withdrawal for customers while Automated Teller Machines (ATMs) rarely dispense cash.
In Lagos, one of our correspondents visited several ATMs which were not dispensing.
However, the POS operators which were the available options for many people have now increased their charges, collecting N400 for N10,000 withdrawal instead of N200.
POS operators alleged that staff of banks are demanding the sum of N10,000 to get N100,000.
Right now, some operators are charging between N300 and N400 for N10,000, our correspondent further reports.
No cash in the ATM machine of Fidelity Bank by NIMASA Headquarters on Burma Road, Apapa; Access Bank, GTB branches on Burma Road, are also not dispensing.
In Delta, POS operators charge N700 for N20,000. They charge between N200/N300 for N5,000. In some places within Delta State, POS operators charge N300 for N5,000.
Mrs Ese Rebowhe who is a POS operator in Asaba said, “When you go to the bank to collect money, you will not get it as you want; maybe you want to collect N20,000, they will only give you N5000.
In Abeokuta, Ogun State capital, POS operators have increased their charges from N100 to N200 on N5,000 withdrawal, following the naira scarcity in the state.
Findings by our correspondent also showed that commercial banks have pegged the amount of money that can be withdrawn over the counter to N20,000/N50,000.
But at the ATM stands, customers can only make withdrawals of N5,000 to N40,000. “Only Sterling Bank pays N150,000 at the ATM stand and it’s only for the bank’s customers,” a customer said. A POS operator in Abeokuta simply identified as Favour POS told Daily Trust that she now buys cash in order to stay in the business.
“It has affected me a lot. As it is now, I am buying cash. And the reason is that I don’t want to stay at home,” she said.
The Central Bank of Nigeria had on Wednesday assured that there is enough cash in circulation while blaming hoarding for the scarcity.
Rebecca Welch to make history as the first female referee of a Premier League game as she has been selected to officiate Fulham’s match against Burnley on December 23, 2023.
Welch became a referee in 2010, juggling the job with her work in the British National Health Service.
She officiated a Football League match between Harrogate and Port Vale in 2021, becoming the first woman to hold the position.
In addition, Welch was the first female official to officiate games in the FA Cup’s third round and the Championship.
She made history last month when she became the first woman to act as fourth official in a Premier League game as part of the team for Fulham’s match against Manchester United.
Welch is also in charge of several high-profile women’s fixtures, including games at the 2023 Women’s World Cup.
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A Grade I Area Court in Dei-Dei, Abuja on Thursday sentenced a 31-year-old man Lawal Babangida to six months imprisonment for impersonating a military officer.
Mr Babangida, who lives in Tungamaji village Abuja was charged with impersonation criminal intimidation and extortion.
The convict pleaded guilty to the charge and begged the court for leniency.
“Please forgive me my lord, I plead for mercy sir.
“I will not commit any crime again’,’ Mr Babangida said.
The Area Court judge, Saminu Suleiman however, gave the convict an option of N6,000 fine.
The judge warned the convict to desist from committing crime after serving their punishment.
The prosecutor, Chinedu Ogada, told the court that on November 11 the complainant Usman Zaiyanu of Tomato Junction Zuba Abuja reported the matter at Zuba Police Station.
Mr Ogade said that on the same date at about 9:30 pm the convict accosted the complainant at Zuba Tomato Junction and introduced himself as a military officer.
The prosecutor told the court that the convict criminally threatened the complainant and stole his cell phone and N10,000 cash.
Ogada said that the convict made confessional statements during police investigations and the offence contravened Sections 132, 321 and 292 of the Penal Code.
NAN
The Registrar, Joint Admissions and Matriculation Board (JAMB), Professor Ishaq Oloyede, has asserted that university degrees should no longer be the only requisite for jobs in today’s information age.
He made the assertion while delivering the convocation lecture at Kwara State University (KWASU) at Malete, Kwara State, on Thursday.
The lecture was titled “Learning, Unlearning, and Relearning – Prerequisites of the Digital Age”.
The JAMB boss opined that emphasis should also be placed on demonstrable skills which are now essential.
Oloyede, a Professor of Islamics, admonish Nigerians to prepare for the challenges of the information age by taking lifelong learning seriously and being willing to change as circumstances unfold.
He emphasised that “learning is useless without practice,” adding that “relearning is the ability to acquire new skills, knowledge, and perspectives quickly and effectively”.
“Those who can learn, relearn, and unlearn are the successful ones, and those without the mindset that accommodates the triad are bound to perpetually lament”, he added.
He said the “World today is totally different from the world inhabited by our forebears. One of the factors responsible for this change is the totality of what makes the Information Age, which is still evolving as technology develops rapidly.
“The changes in the world provide new opportunities and threats. While there are new opportunities in Information Technology, existing jobs such as typists, receptionists, traditional printers, telephone booth operators, computer operators, factory workers, cashiers, travel agents, and fuel attendants, among others, are on the verge of extinction.
“In this regard, there won’t be any difference between those who are literate and those who are illiterate without the cutting-edge skills associated with learning, relearning, and unlearning.
“Therefore, the onus of the responsibility lies on everyone to get prepared for the challenges of the Information Age by taking lifelong learning seriously and being willing to change as circumstances unfold.”
Professor Oloyede advised the institution graduates to remember that learning, unlearning, and relearning are the compasses that will guide them in the uncharted territories of the Digital Age.
“Your ability to embrace these principles will set you apart and empower you to navigate the challenges and seize the opportunities of our rapidly changing world.”
Sit in your office and work for Nigerians - Oshiomhole tackles Minister over N1bn Switzerland trip budget
AdminSenator Adams Oshiomole, who is a member of the Senate Committee on Trade, has criticized the Minister for Trade, Industry and Investments, Doris Uzoka, for proposing N1 billion in the 2024 budget for a foreign trip to Geneva, Switzerland.
Oshiomole tackled the Minister over the budgetary proposal when she appeared before the Senate Committee on Trade on Tuesday, December 12, to defend her budget.
During her presentation, the minister told the joint committee that N905 million was earmarked for overhead costs while N8.1 billion was allocated to capital expenditure.
Reacting to her presentation, Oshiomhole, Senator representing Edo North, urged the minister to utilise in-country expertise to cut costs, emphasising the need for homegrown products and questioning the lack of data on Nigeria's Balance of Trade.
“I see that you intend to travel to Geneva next year and you have budgeted over N1bn for that. We can’t keep going on with over-bloated teams on foreign trips. Use the experts we have in your offices in the country to save costs. Madam sit in your office and work for Nigerians. I have gone there twice. You are always in the Bank of Industry. If you preferred BoI, you should have declined the President’s nomination to be a minister. Let’s practise what we preach. We can’t talk about industrialisation and keep importing toothpicks and tyres. We must ensure that we have homegrown products.
What is our balance of trade, especially with China? Those countries exporting things to Nigeria are expected to build factories in Nigeria. We have to take advantage of our population to grow our industries?"
Responding to Oshiomole's objection, Uzoka stated that she could work from anywhere and revealed plans to establish a Trade Intelligence Unit for generating and storing trade data.
“I assure you that I can work from anywhere and give Nigerians results. My office is currently under renovation. Sir, I regret to say that we seem to have no record of our balance of trade. Or at least, it doesn’t exist in the ministry and that is why we initiated a new unit called Trade Intelligence Unit to ensure that such data is generated and stored.”
Oshiomhole disagreed with the minister for saying her ministry had not records of the nation’s Balance of Trade.
“No Madam. I don’t agree that there is no data. Such data exist with the CBN, Customs and other agencies,” Oshiomhole said.
A Nigerian woman, Emem Effiong and her physically challenged lover, Innocent Moses Ntia, have gotten married in Akwa Ibom.
The wedding was held at the Christ The King Cathedral in Uyo on Saturday, December 9, 2023.
The bride took to Facebook on Wednesday, December 13, to share photos from the wedding.
"Thank God it ended in praise. Our deepest appreciation to Her Excellency, the wife of the Governor, Pastor Mrs. Patience Umo Eno that was ably represented by wives of five LGA transition committee chairmen. Mummy, Thank you for honoring us, God bless you,” she wrote.
Congratulating the couple, one Greg Simon, said there have been many beautiful marriages in the disability community in 2023.
“Oh wow! Congratulations my dear brother Innocent Ntia Love is like the wind, you can't see it but you can feel it. Happiness is understatement for me, to describe how excited I'm celebrating this two love birds. My prayers are for unusual enlargement as you start this beautiful journey together. The year 2023 birth so many beautiful marriages in the disability community, changing the narrative is a goal. I'm positive and prayerfully 2024 will have more warriors walk to the altar Amen. Once more, accept my warmest congratulations,” he wrote.
