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Rivers Assembly moves to probe Chief Judge over alleged age falsification
The Rivers State House of Assembly has set plans in motion to investigate the state’s Chief Judge, Justice Simeon Amadi, over alleged falsification of age.
The development comes amid the ongoing political crisis in the state.
DAILY POST reports that the Minister of the FCT, Nyesom Wike, and Governor Similayi Fubara have been engaged in a political rivalry over control of the oil-rich state.
However, a new twist was added to the crisis on Thursday as the alleged age falsification by the Chief Judge became the subject of plenary at the Assembly.
This followed the presentation of some documents to the Speaker by the Leader of the House, Hon. Major Jack.
Afterward, the Deputy Speaker, Hon. Dumle Maol, raised an allegation against the Chief Judge of the state, Justice Simeon Amadi, saying:
“These documents before me simply say that the Chief Judge of the state, Justice Simeon Amadi, falsified his age in service. Mr. Speaker, that is a very serious allegation, and I do hope that this House takes legislative notice.”
The House debated the issue and resolved to write a letter to the Director of the DSS to conduct an investigation and report its findings to the House.
“The documents are only suggesting a case of age falsification by the Honourable Chief Judge of the state, Justice Simeon Amadi. What it means is that there has to be an investigation to that effect,” the Speaker, Martin Amaewhule, said.
It was later put to a vote, and the House eventually agreed to write to the DSS to investigate the age falsification allegation against the Chief Judge.
[DailyPost]
Stunted growth almost cost my life – Chinedu ‘Aki’ Ikedieze
Actor Chinedu Ikedieze, popularly known as “Aki,” has opened up about the struggles with stunted growth and how it affected his mental health.
He revealed that at the age of nine, doctors diagnosed him with “stunted growth or growth retardant,” which led to intense mockery from peers.
Ikedieze, in an interview with Chude Jideonwo, shared that his mother’s words of encouragement helped him focus on education as a means to overcome his challenges.
However, the constant taunting and name-calling took a toll on his mental health, and he even had suicidal thoughts.
Despite facing adversity, he chose to focus on his education and eventually built a successful career in Nollywood.
He said: “I remember my mom taking me to the hospital when I was around nine years old. I think I was sick. The doctor told her, ‘Madam, stop worrying yourself. He has no problem. Just make sure he reads his books, goes to school, and is there for him.
“That hit me hard. I was born and brought up in the village, so hearing that kind of English from a doctor — it stuck with me. I remember the doctor saying, ‘Madam, what he has is stunted growth.’ Then he wrote something on a report, and I saw another word: growth retardation.
”I didn’t even know how to pronounce it. That was when I started hearing those words over and over again. My mom always told me, ‘You are small; you cannot start carrying cement or doing furniture work. The best thing for you is to go and study.’
“So I knew that the only weapon I had to conquer the world was education. But it was painful. People taunted me. I cried several times. They called me names. It got so bad that, at times, I thought of ending it all.”
[TheNation]
Peter Obi meets Bauchi gov behind closed doors
The presidential aspirant of the Labour Party in the 2023 general election and former governor of Anambra State, Peter Obi, on Thursday, arrived in Bauchi State for a meeting with Governor Bala Mohammed.
The purpose of the visit remains unclear as both politicians are currently holding a closed-door meeting at the Government House in Bauchi.
Mohammed, who is the Chairman of the Peoples Democratic Party Governors’ Forum, is expected to brief journalists alongside Obi after the meeting.
The 2023 presidential election saw former Lagos State governor, Bola Tinubu of the All Progressives Congress, clinch victory after securing the highest number of votes across the country.
Labour Party’s Peter Obi, whose candidacy attracted an unprecedented wave of support, particularly among young voters, finished third with 6,101,533 votes.
Despite being a first-time presidential contender, Obi won in 11 states, including Lagos—Tinubu’s stronghold—and the Federal Capital Territory, Abuja. Atiku, like Tinubu, secured victory in 12 states.
Following the election, opposition parties have intensified discussions about forming a coalition to challenge the APC in 2027.
Atiku has been seen in political meetings with Obi, former Kaduna State governor Nasir El-Rufai, and other key figures across the country as strategizing for the next presidential contest gains momentum.
[Punch]
I consulted Buhari before leaving APC – El-Rufai
Former Kaduna State Governor Nasiru El-Rufai has disclosed that he left the ruling All Progressives Congress (APC) with the full knowledge and consent of former President Muhammadu Buhari.
Vanguard had reported that El-Rufai announced his defection to the Social Democratic Party (SDP) in a statement posted on his verified Facebook page on Monday.
Speaking in an interview with BBC Hausa service on Wednesday, he revealed that he consulted Buhari before making the move, emphasising that he regularly sought the former president’s counsel on political matters.
He said, “There are certain people that before I do any major thing or make any decision, I consult, and anything they ask me not to do, I don’t do, and former President Muhammadu Buhari is among them.
“I consulted Buhari before leaving the APC. It was on a Friday when I went and met him. I hardly make any major decision without consulting him. I told him to pray for me and give me his blessings, which he did.”
El-Rufai recalled instances from his tenure as governor when he sought Buhari’s approval on key appointments, including submitting his commissioner nominees for review.
“Even when I was governor of Kaduna, before I appointed my commissioners, I took the list to Buhari for cross-checking to see if, from among them, someone ever insulted him.
“He laughed, thanked me and told me you can go ahead and appoint commissioners.”
[Vanguard]
Senate passes vote of confidence on Akpabio amid sexual harassment allegations
Senators, on Thursday, overwhelmingly passed a vote of confidence on the Senate President, Godswill Akpabio, despite the sexual harassment allegations levelled against him by Kogi Central Senator Natash Akpoti-Uduaghan.
Members of the upper chamber also urged Nigerians not to allow the allegations to serve as a distraction from the legislative responsibilities of the National Assembly.
The resolution followed a motion sponsored by the Senate Leader, Opeyemi Bamidele, who represents Ekiti Central Senatorial District.
Mrs Akpoti-Uduaghan had accused Mr Akpabio of sexual harassment and reported the matter, along with her suspension from the Senate, to the Inter-Parliamentary Union (IPU).
The suspension of the Kogi senator has been controversial, with some critics alleging it was politically motivated.
Mr Bamidele, while presenting the motion during the plenary, stated that the allegations should be left for the courts to decide.
He cited Senate Rule 40, which prevents the legislative chamber from discussing issues already before a court of law.
The motion was seconded by the Deputy Minority Leader, Olalere Oyewumi, representing Osun West.
Despite the ongoing controversy, when the matter was put to a vote, most of the senators expressed their confidence in Mr Akpabio’s leadership.
Details later…
[premiumtimesng]
Trump threatens 200% tariff on alcohol from EU countries
United States President Donald Trump has threatened a 200 percent tariff on alcohol from European Union (EU) countries.
The threat is in retaliation to the region’s “nasty 50% tariff on whisky” from the US.
The alcohol tariffs are the latest shots in an escalating trade war between the US and its top trading partners, a move initiated by Trump on Wednesday.
The US president had imposed a 25 percent tariff on all steel and aluminium coming into the country.
The EU responded by saying it would raise its levies on up to $28bn worth of US goods, including boats, bourbon and motorbikes, from April 1.
Trump later said he would respond to the countermeasures with additional levies, saying the White House would be “doing reciprocal tariffs so whatever they charge us with, we’re charging them. Nobody can complain about that”.
He said if the 50 percent tariff is not removed “immediately”, the US tariff will target all wines, Champagnes and alcoholic products coming out of EU represented countries.
“This will be great for the Wine and Champagne businesses in the US,” Trump said.
Ursula von der Leyen, European Commission president, said the response was intended to be “strong but proportionate”, and added that the EU stood “ready to engage in a meaningful dialogue”.
“Tariffs are taxes. They are bad for business and worse for consumers,” she said.
“Nobody needs that – on both sides, neither in the European Union nor in the United States.”
The commission president cautioned that the economic disruption threatened jobs and would drive prices up.
[TheCable]
1 Number That Shows Why Bitcoin Will Go Higher Over the Long Term
With Bitcoin (CRYPTO: BTC) currently priced at about $82,000, down from its high of more than $109,000 in January, investors are doubtlessly looking for some good news that might help them to believe that their holdings will be worth more in the future than they're worth right now.
As it turns out, there's one big factor that isn't part of the conversation about the coin at the moment, even though it's actually fairly well-known. Here's the one number you need to know to appreciate why Bitcoin's future as an investment looks even brighter than its impressive run to date.
There's a lot of room to grow here
It's obvious that the more people who buy Bitcoin in a given day, the more its price will go up as buyers compete for the limited supply.
Similarly, the more people who resolve to hold onto their coins rather than sell them, the fewer coins there will be to distribute from holders to buyers on any given day, creating a supply crunch that also generates higher prices. Therefore, the number of people who currently hold Bitcoin in comparison to the total population of people who might want to hold it is a key consideration for determining the direction of its price over the long term. And the dynamics look very favorable here.
As of late 2024, various estimates concluded that between 1% to 4% of the global population owns Bitcoin. Within this in mind, we can see why it's nearly inevitable for Bitcoin to go higher in the long term.
Most people do not yet hold any Bitcoin. At least some of those people have capital that they will seek to allocate at some point in their lives. Many of them who do not currently hold Bitcoin are likely to start holding it at some point in the future if its adoption continues in line with past rates. That implies a huge amount of demand for the coin, which, as you've probably heard, is perpetually in increasingly shorter supply due to the halving mechanic baked into the crypto's protocol.
Against what some may expect, people in developed countries are not the only ones who hold it; the populations of many emerging economies like the Philippines and Vietnam feature fairly high rates of Bitcoin ownership. This is an important nuance because it implies that countries that are experiencing rapid economic growth are also those with large populations and rising incomes. Those rising incomes are going to generate capital that will need to be invested somewhere, and as the social proof is already gaining ground, Bitcoin is going to be one of the places where those people invest.
Then, as the long-term upward movement of Bitcoin's price is reestablished, even more investors are likely to come along to buy. After a certain point, sentiment becomes embedded, and the longest-holding holders get rewarded the most over time.
Population growth isn't a necessity for the coin's price to keep rising
The beauty of the case for buying Bitcoin is that it doesn't really matter if your estimate for the proportion of global Bitcoin holders is 1%, 4%, or higher. The supply of coins is limited, and growth of that supply steadily slows as it gets harder and harder to mine new coins over time.
In other words, regardless of whether there are more buyers for it in the future or in the past, whoever is in the market will be bidding for a smaller number of new coins. The addition of new buyers just makes the process of the price increase occur faster, as it means there's more capital chasing the same ever-shrinking pile of assets being produced.
Just keep in mind that the idea of 100% of the human population owning Bitcoin is a pipe dream, even if it's probably a good idea for every investor to hold some. Topping out at 15% of the global population or so, which is similar to the proportion of U.S. residents that hold Bitcoin right now, would still leave a very long road for new money to flow into the chain, boosting prices for everyone.
[The Motley Fool ]
Cryptoverse: Bitcoin's bear market hits newcomers hardest
They bought in haste - will they repent at leisure?
A stampede of new investors hoovered up bitcoin at lofty prices as crypto fever ran high after Donald Trump swept to victory in the November U.S. presidential election.
Now, barely six weeks after Trump was inaugurated, bitcoin has sunk into a bear market, drained by a sell-off in global stocks. Just weeks after hitting a six-figure all-time high, the largest cryptocurrency is now trading at around $80,000, down nearly a quarter from its January peak.
A wave of investors that entered the market chasing bitcoin's rally past $100,000, especially those using borrowed money, are feeling the pinch from its decline.
At least 20 million new bitcoin addresses - about 1.5% of all bitcoin addresses in existence - have been created in the past three months, according to crypto data and analytics firm Glassnode.
The ratio between the prices at which new bitcoin is being bought and sold, known as the spent output profit ratio, has meanwhile dipped to 0.95, its lowest level in over a year and negative for the first time since October, according to estimates from crypto exchange Bitfinex.
"This suggests that recent buyers are locking in significant losses, reinforcing the exceptionally challenging conditions for newer investors," analysts at Bitfinex said.
The world's largest cryptocurrency hit a record high of $109,071 in January, but has since lost most of the gains racked up since the American election, as concerns about U.S. tariff policy, the health of the world's largest economy and a tech selloff sap risk appetite.
"I was surprised to see bitcoin at $80,000 and it looks like the bloodletting hasn't ended yet," said Kevin Dede, analyst at investment bank H.C. Wainwright.
Even U.S. President Donald Trump's executive order to create a bitcoin strategic reserve and an additional stockpile of other crypto tokens only gave the crypto market a temporary boost.
"This corrective selloff has caught many by surprise," said John Glover, chief investment officer of crypto lending platform Ledn, adding the asset could find support at the $73,500 level.
TRADERS FEEL THE PAIN
Traders with leveraged positions are feeling the pain, according to Bitfinex analysts who said that this group's realised overall losses is hovering above $800 million per day, with February 28 and March 4 seeing some of the biggest single-day losses.
Meanwhile, investment products tracking digital assets saw outflows for the fourth straight week, according to CoinShares data. Total assets under management in these products have dipped around $4.75 billion to $142 billion. That's the lowest since mid-November 2024 after the U.S. election.
U.S. spot bitcoin ETFs saw outflows of around $1.1 billion in outflows on February 25, the biggest daily outflow since their launch in January last year, according to J.P.Morgan.
While past selloffs in crypto markets are often followed by some amount of calm as the market finds its footing, bitcoin may be at the mercy of broader markets for the time being.
The implied or future bitcoin volatility priced into derivatives has spiked to 69% in the last 24 hours, while the second-largest token ether's implied volatility has increased from 65% to 90% since Monday, meaning investors expect more choppiness ahead, according to Amberdata.
"The last two weeks have 100% been driven by the equity market tantrum," said Jeff Dorman, chief investment officer at asset manager Arca in a note. "This likely plays out similar to what we saw in late 2018, which was nothing more than a short-term hiccup on the way to further highs."
[Reuters]
Crypto wallet integrated with Telegram introduces crypto trading and yield features
Telegram's crypto wallet, developed by a third-party company called The Open Platform (TOP), has introduced new features for people who don't just use Telegram as a messaging app. The updates include multi-asset trading and yield functionalities.
Based on the TON blockchain, TOP launched the wallet in 2023. The company reported that over 100 million users have signed up for an account with Wallet on Telegram. Additionally, it noted that most of these users were new to the crypto ecosystem.
The wallet product has primarily been focused on the Toncoin cryptocurrency, which can be used on the Telegram platform to tip creators or pay for mini-games and apps. It also supports Bitcoin and USDT (on the TON blockchain). Since the initial launch, the wallet has also gained support of other currencies like Notcoin.
Following today's update, TOP says that users will be able to buy, sell, or hold crypto without any on-chain deposits. This makes it easier for newer users to get into crypto holding and trading.
The company is also introducing an earning component to the wallet for holding a certain amount of Toncoin. It said that while the average yield is 4%, it will vary based on validators' reward. Later this year, TOP plans to add yields for USDT holdings and launch loyalty programs that would benefit Toncoin holders.
Telegram Wallet has undergone a makeover as well, with a new navigation bar at the bottom and an easy way to switch between the Wallet, Trade, and Earn sections.
"This update enhances Wallet’s functionality, to meet consumers’ expectations for an open and wide market. With current update Wallet now operates as a fully-fledged crypto platform within Telegram while remaining as simple and accessible as ever. We also plan to implement a loyalty program specifically for Toncoin holders, to further boost the adoption of TON Ecosystem," TOP's CEO Andrew Rogozov said in a statement.
The new wallet update will start rolling out to users in March and April. TOP said that some features might be restricted in some countries based on local regulations.
Last December, Telegram founder Pavel Durov said that the company became profitable. The platform has more than 950 million monthly active users. Cryptocurrencies have contributed to the company's bottom-line thanks to integrations with content and mini app payments.
The story is updated after the company's input on yield and self-custody.
This article originally appeared on TechCrunch
Ripple to offer cross-border crypto payments in the UAE
On March 13, the U.S.-based digital payments company Ripple announced that it has received a license from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services in the Dubai International Finance Centre (DIFC).
The DIFC is a free-economic zone in the United Arab Emirates (UAE) that fosters an innovative financial and technological ecosystem. The regulatory approval enables the company to provide its cross-border crypto payment services to financial organizations across the country.
With this license, Ripple became the first blockchain payments provider licensed in the DIFC, said DIFC CEO Arif Amiri. It is also the first license for Ripple in the Middle East.
Ripple CEO Brad Garlinghouse said, “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”
The final approval came months after Ripple secured an in-principle license from the DFSA in October 2024. The local policies mandated any company to establish an office in the region, among other conditions, to become eligible for a regulatory approval.
Since Ripple had already established its Middle East headquarters in DIFC in 2020, it didn’t take long for the company to receive the license. In fact, the company claims that around 20% of its global customer base exists in the Middle East.
Ripple has already secured over 60 regulatory licenses globally in countries such as Singapore and Ireland, in addition to several US states.
The XRP token didn’t have a dramatic reaction to the announcement of the DIFC license and was trading at $2.27 at press time.
[The Street]