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[OPINION] Farewell to Ahmed the great - Donu Kogbara
As a youngster living in London full-time, I often participated in a BBC World Service quiz programme called Focus On Africa.
It was great fun and my second favourite work assignment ever (the first was writing reports about wonderful tourist destinations for British Airways’ glossy in-flight magazine. I’d fly to Mauritius or wherever first-class, then assess the best hotels, etc…so cushy!).
OK, so I always eagerly looked forward to the quiz, which happened every month for many years. Later, it became an annual event and I absolutely loved it because it was quality edutainment (educational as well as entertaining).
But most of all, I loved it because of the fabulous multinational cast of characters I worked with: Irish Maura and Ghanaian KB (both now late), Cameroonian Veronique, Zimbabwean Violet, Patrick and Robin (both English), Cameron, another Ghanaian and a handful of other excellent journalists.
Another frequent participant was a Tanzanian journalist called Ahmed Rajab. He was so charming, erudite and amusing…and by far the most knowledgeable colleague I had within that context.
Ahmed could answer almost every question that was thrown at us by the quiz master or mistress. He was the kind of guy who knew what the Gross Domestic Product of Botswana was and could recite the names of every member of the Senegalese football team. He was as well-informed around sports as he was around politics and economics.
He was, simply put, a Pan African genius who put me (a moron by comparison) to shame on several occasions!
Ahmed recently passed away and I am heartbroken. His son, Talal, a PR and Communications professional who works in London, has kindly written the following tribute for Vanguard readers:
Ahmed Rajab, the international journalist and political analyst, sadly passed away at the age of 79 in London.
As I reminisce on his life and career, many memories both happy and sad come to mind. The times that he would sneak me and my brother, Tahar, into Bush House in the early 90s so we could hear him record pieces for the BBC Swahili Service. Watching him being interviewed on CNN or Channel 4 News and shouting “there’s dad!” as we crowded around the TV. Going into the Africa Analysis offices in Farringdon, London, and listening to him talk about politics and economics in far away countries that I had little to no knowledge of.
It also reminded me of the times when he was away for months on end, reporting on elections and wars, missing birthdays and other important occasions as he pursued his passion for journalism. Even in retirement, he was still much sought after by media outlets for his analysis and views of the continent.
Ahmed was born on the island of Zanzibar in 1946, and his experiences of the Zanzibar revolution shaped much of his later life, particularly his political views. Zanzibar, at the time a British protectorate under the Sultanship of Jamshid bin Abdullah, was undergoing radical change during his student years, culminating in an armed revolt in 1964 and the overthrowing of the Sultan. It was an experience that not only led to him moving to the UK but shaped his later political activism. He described the events for a BBC Witness History podcast in 2020.
After moving to the UK in 1964, he graduated from Birkbeck University where he studied Philosophy, before pursuing a Masters in African Studies from Sussex University. After graduation, he worked in various production roles at the BBC World Service in London, and also served within the UNESCO Communications Office in Kenya. It was at this time that he honed his writing skills, contributing articles for Index on Censorship and Africa Events.
By 1995, my dad had become the editor of Africa Analysis, a fortnightly magazine dedicated to African politics and economics and, after leaving Africa Analysis after nearly 20 years, he became the Head of Newsroom for the Middle East/Asia Bureau of IRIN, the United Nations’ Humanitarian News Agency. During his career, he was regularly interviewed on the likes of the BBC, Channel 4 News and CNN.
You could always find my father behind a laptop or PC, as he was also a prolific writer. His work,A Chilly Wind Over the Indian Ocean, was featured in the book Pioneers, Rebels, and a Few Villains: 150 Years of Journalism in Eastern Africa. His poetry, which resonated deeply with African identity and political themes, was included in the 1997 anthology African New Voices.
It’s only now, as a dad myself, that I realise the sacrifices that my father had to make to pursue his passion for journalism and his desire to see true democracy spread across Africa. He left Zanzibar during a time of revolution, started a new life in a new country on his own at the age of 18 and worked day and night to realise his dreams. I can’t even begin to imagine what that must have been like, and my only regret is that I never properly sat down with him to hear his experiences.
He is survived by his wife, Aysha, my brother Tahar, his daughter Zakiya and niece Umi, along with his seven grandchildren.
[OPINION] May Zelenskyy not happen to us - Owei Lakemfa
The world is in a mess and this is not just about Donald Trump, but a confused Europe causing disorder and then deploying falsehood and propaganda to camouflage its real intentions.
For instance, there are a lot of attacks against Trump for allegedly trying to force Ukraine to sign a mineral deal with the United States, US. This is, of course, false propaganda. The truth is that the deal was proposed and sold by Ukrainian leader Volodymyr Zelenskyy to the Biden administration in October 2024, that is over three months before Trump was sworn in! The Europeans knew this because the same deal was presented by Zelenskyy to the European Council on October 17, 2024.
This offer was part of the ‘Victory Plan’ a delusional Zelenskyy hawked around the world, including to Pope Francis at the Vatican.
Four months ago, the war was going very badly for Ukraine as it is now. Many parts of the country were in ruins; it had embarked on forced conscription and 10.6 million of its populace was either internally displaced or in exile. Also, Russia had between 2023 and 2024, seized 4,168 kilometres of Ukrainian land.
Given this reality, only someone on the verge of lunacy would claim Ukraine is about to win the war, would not talk peace, and, draw up a ‘Victory Plan’. This exactly was what Zelenskyy did.
The ‘Victory Plan’ confirms Trump’s portrayal of Zelenskyy during the Oval Office altercation, as an unstable mind who does not want a ceasefire, does not want to negotiate an agreement, yet, has neither the men nor weapons to secure a military victory over Russia.
The first of Zelenskyy’s five-point ‘Victory Plan’ is for an invitation to join NATO. This, as we know, is one of the two main causes of the war. So, he wants the war to continue. His second point is for NATO to supply deadlier weapons so he can attack Russian territories. The third is the supply of comprehensive non-nuclear weapon which will guarantee Ukraine: “Peace through strength.”
The fourth is offering the EU, US and Canada special agreements to exploit Ukraine’s energy, food and natural resources like lithium, gas and titanium. The fifth is for Ukrainian soldiers, after their ‘victory’ over Russia, to replace certain military contingents of the US military stationed in Europe! Zelenskyy claimed that Ukranian soldiers are so battle hardened that they should be allowed to defend all Europe.
Zelenskyy whose five-year term as President expired on May 19, 2024, presented his crazy ‘Victory Plan’ to the Ukrainian parliament and no parliamentarian dared to oppose it as Ukrainians like Denis Kireev who cross his path can be summarily executed.
That being the case, what stopped the EU leaders from pointing out to Zelenskyy that his plans are not the product of a rational mind. Rather, they applauded him.
They exhibited the same behaviour on Sunday, March 2, 2025 when they received him in London after Trump had bashed him. Rather than tell Zelenskyy to agree to a ceasefire and negotiations as Trump suggested, they praised him for bravery.
In fact, the host, United Kingdom Prime Minister Sir Keir Starmer, boasted that he is “ready to put boots on the ground and planes in the air”. Despite usually exhibiting political foolishness, Zelenskyy on this occasion did not take the bait. Indeed, it would be foolish for anybody to believe that any European country would send her sons and daughters to go fight in a war that was avoidable and unnecessary.
Another silly talk by the Western European leaders is to boast that they would form a ‘Coalition of the Willing’, which, to me, simply implies NATO minus US. This is because I do not see why any non-NATO member country would send its soldiers to go and fight in Ukraine.
Another not quite intelligible or, half intelligent idea is that announced by French President Emmanuel Macron. Rather than a straight forward ceasefire which would entail the guns going silent and an immediate cessation of hostilities, he revealed that he and Starmer want to propose a one-month truce in the war. He added that this would only be “in the air, at sea and on energy infrastructure”, not on the battle field. This does not show either leader to be bright minds because it exposes them to the world as people who do not want an end to the war. It is also to ensure that Russia will not accept such a silly ceasefire knowing that it has absolute control in the air and at sea.
Starmer has his own parochial plan for the war. He wants to sell some 5,000 lightweight-multirole missiles, LMM, worth £1.6bn to poor Ukraine. His proposal to an hapless Zelenskyy is planned to treble production at the British Thales factory in Belfast, provide 200 jobs in Northern Ireland and directly support a further 700 jobs for Britons.
On her part, the European Commission President Ursula von der Leyen has a plan to raise $842bn. Not to rebuild Ukraine, but to “rearm” Europe and provide immediate military support to Ukraine after the United States pulled the plugs.
The EU is clearly in crisis, but it continues in its crafty ways. It had beaten into line members that tried to prevent the Ukrainian war by asking Ukraine to abide by the Minsk I and II Agreements. The Minsk Peace Talks were co-chaired by US, France and Russia. Other participating countries included Italy, Sweden, Armenia, Belarus, Azerbaijan, Turkey, France and Germany.
Initially, French President Emmanuel Macron whose predecessor, Francois Hollande, had signed the Agreement, tried to mediate in last minute talks, including with Putin, but was bullied into supporting Ukraine and tossing the peace agreements into the dustbin.
But not so the then German Chancellor, Angela Merkel, who insisted that Ukraine implemented the agreements in which she had been a major participant. But she was on her way out of office. To ensure Germany didn’t have a second thought about the war, the two Nord Stream pipelines between her and Russia carrying cheap gas were blown up on September 26, 2022 by some EU members.
However, despite bullying, Hungary has remained consistent, arguing that the war is unnecessary.
On Saturday, March 1, 2025, Slovak Prime Minister, Robert Fico, issued a statement stating that : “Slovakia will not support Ukraine either financially or militarily to enable it continue the war. If others choose to do so, we will respect that.”
Zelenskyy had been used to play Ukraine like football, now, he is the ball being played in the field. He is caught between the US and most of EU. He may be taken out, not by foreigners, but by the Ukrainians themselves. May the Zelenskyy disease not happen to us.
[OPINION] FCCPC should let MultiChoice be - Ikechukwu Amaechi
Nigeria is witnessing its worst cost-of-living crisis in a generation, no doubt. President Bola Tinubu admitted that much during his first Presidential Media Chat on December 23, 2024. Yet, when asked if his government will consider travelling the “price control” route in order to mitigate the crunch, his answer was emphatic. “I don’t believe in price control. We just continue to supply the market, we work hard to supply the market,” he said flatly.
Surprisingly, barely two months thence, a government agency – Federal Competition and Consumer Protection Commission, FCCPC – is insisting on price control. Granted, it has the mandate to protect consumers, but it is not a price regulator and Nigeria is a free market economy, the very point Tinubu made with his pointed response.
Citing unabating inclement economic climate, MultiChoice, Africa’s leading pay-tv powerhouse, on February 24, announced its intention to adjust tariffs on its DStv and GOtv packages effective March 1. The tariff hike, according to John Ugbe, the CEO, meant that the DStv premium package, which hitherto cost N37,000 monthly will now dig a deeper hole in the pockets of customers at N44,500. Subscribers on the Compact+ are to pay N30,000 as against N25,000 and Compact bouquet will climb from N15,700 to N19,000.
Reiterating that the hike has been necessitated by the ever-increasing cost of running business in Nigeria, the pay-tv service provider boss said it will enable the firm to continue offering its customers “world-class homegrown and international content, delivered through the best technology.” Significantly, the increments are below 25 per cent, far less than the inflationary pressures exacerbated by sundry volatilities in the economy. Yet, it is enough to put the company in FCCPC’s crosshairs.
To be sure, Nigerians, facing significant economic challenges, are barely surviving and any hike in tariffs makes it worse. But businesses are not faring any better. Firms that hitherto posted robust balance sheets year-on-year are going bust, literally. For instance, in 2024, Nestle Nigeria posted a net loss of N164.6 billion and MTN Nigeria announced a whopping N550.33 billion loss before tax. Those who could not stand the heat in the kitchen fled. In 2023 alone, industry giants, including GSK, Sanofi-Aventis Nigeria Ltd, Unilever Nigeria Plc., Procter & Gamble Nigeria, and Bolt Food, exited Nigeria.
The rising operational costs is a consequence of the much-vaunted reform policies of the Tinubu administration, particularly the removal of fuel subsidy and floating of the Naira. Today, petrol which hitherto sold at N185 a litre, now sells at over N1,000 in most parts of the country. When that is added to the over 250 per cent hike in the cost of electricity from N68 kilowatts per hour to N206.80/kWh for those in the so-called Band A, and the sheer bedlam in the foreign exchange market, the impact on businesses is ruinous.
Standing between the devil and the deep blue sea, businesses that have decided to weather the storm rather than fleeing are hiking their tariffs to remain afloat. MultiChoice is one of them. But it is not the only one. In January, the Nigerian Communications Commission, NCC, approved a 50 per cent tariff increase for telecommunications operators in Nigeria in order to address rising operational costs and ensure sustainability.
Long before the telecoms operators hitched a ride on the price hike wagon, many other companies were already on board with price adjustments in excess of 100 per cent. For instance, early 2024, Nigerian Breweries, NB, Plc. upwardly reviewed prices of 45 products due to “rising input costs and the need to mitigate the impact.” Streaming giants, Netflix, also announced a review of its prices with effect from April 1, 2024. Earlier, International Breweries, bottlers of Hero and Trophy lager brands, citing escalating cost of doing business, increased prices across its product portfolio. Another brewing giant, Guinness Nigeria Plc., also announced a new price regime.
In 2023, cab service providers, Uber and Bolt, made significant adjustment in prices in response to the fuel subsidy removal. Airlines have since then tripled their fares. Healthcare is similarly impacted, with prices of medications shooting through the roof. School fees at all levels, including those of Federal Government-owned universities, went up.
Ironically, these other organisations are given free pass even with higher percentage hikes, but whenever MultiChoice decides to travel the same route, it is singled out for sanction. So, with its less than 25 per cent tariff hike, the gloves are off once again. Last week, Ondaje Ijagwu, FCCPC Director of Corporate Affairs, said the Commission had directed MultiChoice’s CEO to attend an investigative hearing on February 27. “This action follows MultiChoice’s formal notification of the price adjustment, which raises concerns about recurrent unilateral price hikes, potential market dominance abuse, and perceived anti-competitive practices in the pay-tv industry,” the statement read in part. The meeting was later rescheduled for March 6, at MultiChoice’s behest.
The House of Representatives has joined the fray. Following a motion by Esosa Iyawe on Tuesday, the Green Chamber resolved that the pay-tv provider should suspend the proposed hike pending a thorough investigation. If the Senate was not embroiled in the scandalous “roforofo” fight between Senator Natasha Akpoti-Uduaghan and Senate President Godswill Akpabio, it would have embarked on its own inquisition by now.
So, why is it a crime for MultiChoice to charge market-reflective rates for its products and services when it is not for others? Why would a National Assembly that does not see anything wrong in government arbitrarily removing petrol subsidy and hiking electricity tariff frown at a private business increasing prices of its products in order to survive?
These incessant attacks on the right of a private company to make sound business decisions in a very challenging economic environment is incongruous with the dictates of a free market economy. MultiChoice Nigeria is a private business with the right to determine the prices of its services and government has no power to regulate consumer prices as the former FCCPC executive vice-chairman, Dr. Babatunde Irukera, explained in 2022. Besides, MultiChoice is a lifestyle service provider that does not enjoy a monopoly in the market. Competitors such as StarTimes, SLTV and UEL abound. So, rather than wishing a company that has changed the face of entertainment in Nigeria for over 25 years dead, those not comfortable with its new price regime have options.
MultiChoice has made significant contributions to Nigeria’s economy. From its humble beginnings of about 30 employees, it has well over 1,000 employees presently even as it indirectly supports over 20,000 more jobs. Since inception, it has contributed significantly to the economy. The 2019 Socio-Economic Impact Report from AccentureTM estimated that between 2016 and 2019, the company contributed N363 billion directly to Nigeria’s GDP, created economic value of N57.1 billion through new businesses, paid N39.6 billion in taxes and fees and spent N49.5 billion on content and local production facilities. The figures have doubled.
But these figures are of no moment to FCCPC, which in its desperation to ratchet up the pressure, on Wednesday, instituted legal proceedings against MultiChoice Nigeria Limited and John Ugbe, allegedly for violating regulatory directives, obstructing an ongoing inquiry and engaging in conduct deemed violations of the provisions of the Federal Competition and Consumer Protection Act, FCCPA, 2018.
Perhaps, the Tunji Bello-led FCCPC management is unaware that in 2015, two lawyers – Osasuyi Adebayo and Oluyinka Oyeniji – approached a Federal High Court sitting in Lagos to challenge MultiChoice’s right to increase prices. They lost, with the court ruling that they were not obliged to use MultiChoice’s services. But Bello should know. He is a lawyer, journalist, and administrator in Lagos at the time.
Truth be told, pay-tv is a luxury and not an essential commodity, and MultiChoice as a business is not insulated from the country’s asphyxiating economic downturn. Expecting, therefore, that the costs for DStv and GOtv services will remain unchanged when the cost of doing business in Nigeria is skyrocketing daily is unrealistic. FCCPC should let MultiChoice be.
Rivers crisis: Militant group spits fire, threatens oil production
Tension has heightened in Rivers State, as the dreaded militant group, Niger Delta Rescue Movement, NDRM, warned the Federal Government not to withhold the allocation meant for the state or face a total cut in the oil production.
It also issued a directive to all non-indigenes to consider their safety and leave Rivers State as hostilities were about to escalate.
The group also declared that, except the Federal Government and all the players involved in the crisis do the needful by sheathing their swords, it would hit the nation’s oil production if the allocation due to the state was not released timely.
Recall that the Supreme Court on Friday upheld the decision of the lower court by stopping the state allocation until a valid House of Assembly which has Martin Amaewhule as Speaker, is constituted.
In a follow up to the judgment, Amaewhule on Monday issued a 48-hour ultimatum to Governor Siminalayi Fubara to present the 2025 budget before the House. The ultimatum had since expired on the midnight of Wednesday.
Also on Wednesday, the Amaewhule-led House directed the state governor to sack all commissioners and political appointees and re-submit for screening, a list of new commissioner nominees.
A trending video on a social media platform featured the militants numbering about eight armed with AK-47 and other assorted riffles in an unknown forest, yesterday, chanting “asawana, asawana,” a common slogan among the Ijaw people of the Niger delta region.
A supposed leader of the group declared in a letter he read, “We the Niger Delta Rescue Movement wish to express our deep concern regarding the recent development in Rivers State threatening the smooth governance of our beloved state under the leadership of Governor Fubara.
“It has come to our attention that certain individuals proclaim as lawmakers have issued a 48-hour ultimatum to the state governor to present the 2025 state budget. This blatant attempt to destabilize the state is not only alarming but also a clear attempt and coordinated effort to incite hell, potentially to lead to a state of emergency or even an impeachment.
“We call on President Bola Tinubu to intervene immediately and put a stop to the action of the minister, Nyesom Wike and his associate, whose intent is to drag Rivers State to avoidable crisis. The people of Rivers state like stability, progress and a conducive environment for governance.
“Furthermore, we must make it abundantly clear that the youths of Rivers State will not sit idly while our state is dragged into turmoil. If the federal allocation due to Rivers State cannot be released promptly, we will have no choice but to take a decisive action including hitting oil production.”
The three minutes, 28 seconds video also showed the militants saying, “We can’t generate money into the Federation Account and not have our own share. Our workers deserve their salaries, our government needs the necessary resources to carry out essential development projects.”
They went on to urge the non-indigenes to leave the state for their safety, saying “We urge all non-indigenes in Rivers State to consider their safety and leave the state promptly as the situation may escalate. We cherish the safety of all residents and urge for a peaceful resolution to this crisis. Enough is enough. We stand united for the rest and future of Rivers State. We demand respect from our leaders and focus on the development of our region,” they warned.
Acts against Fubara contain elements of treason – CISLAC
Meanwhile, Civil Society Legislative Advocacy Centre, CISLAC, has described as treasonable felony, the actions perpetrated against Governor Fubara since he assumed office.
Legal Manager of the Transition Monitoring Group, TMG, CISLAC, Mr Gimba Hassan, in a statement in Abuja, said: “It is my belief that some of the actions against Fubara contain elements of treason under Section 37 of the Criminal Code Act and treasonable felony under Section 40 of the same Act.
“When you examine the use of violence against the governor, the burning of the state House of Assembly, the withdrawal of his security, and the deployment of thugs to take over local government councils during elections, it becomes clear that these acts were intended to intimidate and overpower the governor, which falls within the legal definitions of treason and treasonable felony.
“This is especially worrisome in a country where even peaceful protests by minors are sometimes treated as treason,” Hassan said.
He added that the Rivers State House of Assembly’s 48-hour ultimatum for the governor to present the budget was unlawful and lacked legal backing.
Citing El-Rufai vs. House of Representatives (2003) and the Legislative Houses (Powers and Privileges) Act, he explained that a minimum of seven days’ notice was required for a valid legislative summons.
He emphasised that the 48-hour ultimatum was a clear violation of established legal and parliamentary procedures.
“With its judgment, the Supreme Court has effectively stalled governance in Rivers, and the state Assembly is worsening the crisis by proceeding on a 12-week recess.
“This is despite the fact that the House had virtually no legislative activity for months while the matter was in court.
“Our constitution begins with the phrase “We the People…It is the people who gave power to our institutions, elected the governor and his deputy, and voted for the members of the state Assembly.
Further, he said: “It is time for all parties to come together, resolve their disputes, and move the state forward.”
[Vanguard]
Shehu Sani: I almost got six months suspension for disclosing senators’ allowances in 2018
Shehu Sani, a former senator, says he was nearly suspended for six months in the upper chamber for disclosing the remuneration of federal lawmakers in 2018.
In a post published on his X handle on Thursday, Sani said he would have been suspended if not for the “immediate rescue” of Bukola Saraki, then senate president, and his deputy, Ike Ekweremadu,
The former senator from Kaduna stated that any senator who “blows the whistle too loudly” will have to face the consequences of their actions alone, without support from fellow members.
“When I publicly disclosed the salaries and allowances of the senators, it nearly earned me a SIX months suspension if not for divine intervention, Saraki and Ekwerenmadu’s immediate rescue,” he wrote
When I publicly disclosed the salaries and allowances of the Senators, it nearly earned me a SIX months suspension if not for Divine Intervention,Saraki and Ekwerenmadu’s immediate rescue.Just know that if you are there and you blow whistle too loudly,you will be “On your Own”,no…
— Senator Shehu Sani (@ShehuSani) March 6, 2025
In March 2018, the former senator revealed that he and his colleagues received N13.5 million monthly as running cost.
Sani had also disclosed that the senator received N200 million as constituency project fund.
The former senator’s revelation was met with strong disapproval from many of his colleagues, as the salaries of federal lawmakers are usually kept confidential.
Sani’s comments come on the heels of the decision of the senate to suspend Natasha Akpoti-Uduaghan, the senator representing Kogi central, for six months.
The decision followed the adoption of the report by the senate committee on ethics, privileges, and public petitions.
The Kogi senator was suspended following an altercation she had with Senate President Godswill Akpabio on February 20.
On February 28, in an interview on Arise TV, the Kogi senator alleged that her trouble in the senate began after she rejected sexual advances from the senate president.
[TheCable]
Dangote Group Pays N402.3B Tax To Govt In 2024
The Pan African Conglomerate Dangote Industries Limited, (Dangote Group), and its subsidiaries has disclosed that it paid over N402 billion in taxes in 2024, making it the highest taxpayer in the country.
Dangote’s Chief Branding and Communication Officer, Anthony Chiejina, declared during a meeting with some senior media executives who visited him in his Lagos Office that Dangote Industries Limited (DIL) and its subsidiaries, namely, Dangote Cement, NASCON, Dangote Packaging Limited among others, remitted a total of N402.319billion for the out-gone year as taxes as responsible business enterprises.
Recall that Federal Inland Revenue Service (FIRS) had in late 2024 recognised DIL and its subsidiary, Bluestar Shipping as the most tax compliant organizations in the country during its Special Day at the 2024 Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI).
The Federal Inland Revenue Service is Nigeria’s agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria.
Chiejina told his visitors that as a responsible business organisation, DIL and its subsidiaries have never shied away from its obligations either to the government in the form of tax payment at all levels or to host communities in the form of Corporate Social Responsibility (CSR).
According to him, the Group’s corporate strategy has evolved just as its businesses have grown, matured and diversified into new sectors and regions over the last four decades, noting that Dangote Group has almost single-handedly taken Nigeria to self-sufficiency in cement and refined petroleum products and is expanding rapidly across Africa.
Dangote Group and its and its subsidiaries, were recognised as number one most compliant in tax payment in the country, just as its subsidiary Dangote Cement, the country’s leading cement manufacturer, at another occasion won three awards at the FMDQ Gold Awards in Lagos as the most active business in the Foreign Exchange market.
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[PRESS RELEASE] Vice President Shettima to Attend NACC 65th Anniversary Gala in Lagos
Lagos, Nigeria – The Nigerian-American Chamber of Commerce (NACC) is set to celebrate its 65th anniversary with a grand gala dinner, featuring His Excellency, Vice President of Nigeria, Alhaji Kashim Shettima, as the Special Guest of Honour.
The prestigious event will take place on April 12, 2025, at Lagos Continental Hotel, Victoria Island, Lagos, with the red carpet reception commencing at 5:00 PM.
Alhaji Sheriff Balogun, National President, Nigerian-American Chamber of Commerce
The highlight of the evening will be the inauguration of Alhaji Sheriff Balogun as the 20th President of NACC.
Alhaji Balogun will also unveil his leadership team, while outlining strategic initiatives to strengthen bilateral trade relations between Nigeria and the United States.
As part of the evening’s programme, 40 new members will be inducted into the chamber, and the NACC multi-storey building project will be officially launched.
The gala will also honour outstanding Nigerian and American companies and distinguished individuals, including past presidents of the chamber, for their contributions to economic growth and trade relations.
The President of Africa Finance Corporation (AFC), Mr. Samaila Zubairu, will chair the event.
Dignitaries confirmed to attend include Governor Uba Sani of Kaduna State, Governor Dauda Lawal of Zamfara State, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, Founder and Chairman of Elizade Group, Chief Michael Ade-Ojo and Chairman of Odu’a Group, Otunba Bimbo Ashiru.
Others are Founder of Afe Babalola University, Aare Afe Babalola, Chairperson of Brittania-U Nigeria Limited, Catherine Uju Ifejika, Comptroller General of the Nigerian Customs Service, Bashir Adewale Adeniyi, and Chairman of Zinox Technologies Limited, Leo Stan Ekeh.
His Excellency, Governor Babajide Sanwo-Olu of Lagos State, will serve as the Chief Host of the occasion.
For 65 years, the Nigerian-American Chamber of Commerce has been at the forefront of fostering bilateral trade relations between Nigeria and the United States, serving as the premier platform for business growth, networking, and investment opportunities.
The Chair of the Planning Committee, Dr.Ikenna Nwosu, says all the guests will be treated to one of the grandest anniversary galas ever experienced in the country.
VICTOR OJELABI
Senior PR Associate
Neo Media & Marketing | Chair, Publicity Committee, NACC Presidential Inauguration Dinner & Awards Night
Statement By President Bola Ahmed Tinubu On The Commencement Of The 2025 Lenten Season
As the Lenten Season commences, I extend heartfelt wishes to all Christians in Nigeria and worldwide who partake in this sacred time.
Beginning on Ash Wednesday, the 40-day period is a time of fasting, prayer, and repentance, preparing believers for the joyous celebration of Easter.
During Lent, Christians engage in earnest prayer, self-denial, almsgiving, and deep spiritual reflection. It is a solemn reminder of life's transient nature, echoed in the Holy Scriptures: "By the sweat of your brow you will eat your food until you return to the ground since from it you were taken; for dust you are, and to dust you will return." (Genesis 3:19)
This year's Lent, a time of devotion and reflection for Christians, coincides with the holy month of Ramadan for Muslims, a season that similarly emphasises devotion, sacrifice, and acts of kindness. This convergence of religious observances is a testament to the unity in diversity that characterises our nation.
Beyond fasting and prayer, I urge all Nigerians to embrace the love of Jesus Christ by showing compassion and empathy to those around us.
Let us extend a helping hand to those in need, comfort the grieving, visit the sick, and uplift the marginalised. The Scriptures remind us that our love for one another is a true testament of worship.
Let this season deepen our commitment to selflessness and service as we strive to build a nation where empathy and generosity shape our daily interactions.
This period of reflection coincides with encouraging progress in our nation. We ended 2024 positively, as our economy showed strong growth in the last quarter compared to the same period in 2023. Food prices are declining, the exchange rate is stabilising, fuel prices are dropping, and our internal security is strengthening. Our security and law enforcement agencies are making commendable strides. This progress fills us with steadfast hope and optimism for the future.
As we journey through this season with penitence and steadfast devotion to God Almighty, may His kindness bring healing to the sick, prosperity to our people, and peace to our nation.
May we experience God's goodness in a profound way this Lenten season. May He renew our hearts, strengthen our faith, and guide us on righteousness.
Bola Ahmed Tinubu, GCFR
President, Federal Republic of Nigeria
Bitcoin Chart Shows Back to Back Weekly Hammer Candles, Seen Only a Handful Of Times in BTC History
The past few weeks have been highly volatile for bitcoin (BTC), with price action reflecting sharp swings. In the past two weeks bitcoin traded on an open-high, lower-close candlestick pattern with double-digit percentage differences.
The week beginning Feb. 24 saw bitcoin drop to a low of $78,167 and climb to a high of $96,515, a 23% swing. The following week, starting Mar. 3, recorded a low of $81,444 and a high of $94,415, marking a 16% swing.
These large candlestick formations are known as hammer candles, as defined by analyst Checkmate, where the lower or upper wick makes up 90% of the total price range, leaving a small body with a long wick.
Checkmate’s analysis shows that Bitcoin has formed a weekly hammer candle with a 90% lower wick only five times in its history. These instances occurred during the 2017 bull run, the late 2021 bull market peak near $69,000, twice in 2023—following the Silicon Valley Bank crisis and again after the summer downturn—and once in 2024, also during a summer lull.
While the data does not show a clear pattern in bitcoin’s cycle, the 2017 bull market correction stands out, suggesting that such formations could signal critical turning points in price trends. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
[Coin Desk]
Solana CEO Opposes US Crypto Reserve
Solana's co-founder and CEO, Anatoly Yakovenko, has opposed a US crypto reserve. He shared his thoughts on X, highlighting the necessity of decentralization in the field.
Yakovenko's top choice has no reserves at all. He feels that government control may impede decentralization attempts. His second preference is for state-run crypto reserves to protect against Federal Reserve errors. These remarks follow Donald Trump's recent announcement of a cryptocurrency strategic reserve. The planned reserve would contain XRP, Solana, Cardano, Bitcoin, and Ether. However, Yakovenko denies any involvement in proposing Solana for inclusion.
The Solana CEO also recommended a third option: creating objective, measurable standards for tokens in a national reserve. He suggested that these conditions could be so severe that only Bitcoin now qualifies. Yakovenko emphasized that all standards must be rationally justified.
In response to reports of involvement, Yakovenko questioned the concept of a "Solana representative." He compared it to having a Bitcoin representative, emphasizing the decentralization of these programs. Cardano founder Charles Hoskinson also denied having prior knowledge of ADA's inclusion in the reserve. He added that no Cardano officials were invited to the upcoming White House cryptocurrency roundtable.
Meanwhile, officials from Ripple, MicroStrategy, Coinbase, and Chainlink have confirmed attendance at the summit. This gathering of business leaders emphasizes bitcoin's growing role in national economic debates.
Yakovenko's viewpoint echoes broader concerns in the crypto community about preserving decentralization while avoiding potential government intervention. As debates about a US crypto reserve continue, balancing innovation with regulatory constraints remains a major problem for the industry.
[The Street]