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Cryptocurrencies pose a threat to traditional currencies

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On Thursday, the International Monetary Fund released a report titled “Global Crypto Regulation Should Be Comprehensive, Consistent, and Coordinated,” which revealed potential threats from crypto assets to world currencies like the naira.

As the financial system becomes more interconnected, the organization sees a rapid growth of crypto-assets and their associated products and services in recent years. Many activities in this sector, however, are unregulated.

Between July 2020 and June 2021, the organization recorded a total of $105.6 billion in crypto assets traded, representing a 1,200 percent increase in value. Africa leads peer-to-peer (P2P) payment platforms in terms of transaction volume across all regions.

As the number of crypto assets transactions grows, policymakers are finding it difficult to keep track of the risks. The fact that crypto assets transactions are cross-sector and cross-border limits the effectiveness of national strategies. The International Monetary Fund (IMF) warns that such imbalances will exacerbate systemic financial instability in some countries.

“These risks highlight the need for comprehensive international standards that address the risks that crypto-assets, their associated ecosystems, and related transactions pose to the financial system while allowing the development of useful crypto assets and applications,” according to the report.

The report recommends licensing or authorizing crypto-asset service providers that provide critical functions, stating that crypto-assets have the potential to profoundly change international monetary and financial systems.

“In a market where valuations are stretched, the nearly $2.55 trillion market capitalization may reflect froth in addition to the value of underlying technological innovations like blockchain,” the IMF said.

Nasarawa Gov, Sule bags TheNigerian star award for performance

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Governor Abdullahi Sule of Nasarawa State has been nominated for an award of excellence for his outstanding performance.

Organizers of the awards, UK-based media group, TheNigerian News, revealed that the governor will be conferred with its highly coveted ‘Most Oustanding Governor in Primary Eduaction and Rural Develoment’.

The company said Governor Sule will be presented with the award at an event to mark the its fifth anniversary on December 16th at the NAF Conference Centre, Abuja.

According to a press statement signed by Ms. Bridget Agada, secretary of the award planning committee, Governor Sule ” have used basic education as a tool to fight insecurity and other criminal activities, a blueprint that is being adopted by other states. This has set the state on the right track for socio-economic development”.

She added that the governor “has adopted a multi-dimensional approach to reduce poverty level and create wealth and employment. The creation of a rural transformation agency is a game changer that has brought government closer to the rural areas and increase business activities, deflating insecurity to an appreciable level”.

The event will be chaired by the Honourable Minister of Special Duties and Inter-Governmental Affairs, Senator (Dr) George Akume while His Royal Highness, The Emir of Kano, Alhaji Aminu Ado Bayero is the Royal Father of the Day.

Ten other distinguished Nigerians will be recognised on that day including His Excellency, Ambassador Tukur Burutai, Nigeria’s Ambassador to Benin Republic, former Senate President Dr Anyim Pius Anyim and the MD/CEO of FunmiAyinke Nigeria Limited, Engr Funmi Ayinke.

Others are Brigadier General Shuaibu Ibrahim, the DG National Youth Service Corps; Mr Lanre Gbajabiamila, DG National Lottery Commission, Mr Yusuf Bichi, the DG Department of State Services, the Executive Secretary, Nigerian Christian Pilgrim Commission, Rev Yakubu Pam, Director-General of the Industrial Training Fund (ITF) among others.

Govt of Osun rescues abandoned, malnourished 7-year-old girl

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The Ministry of Women, Children, and Social Affairs in Osun State has announced the rescue of a seven-year-old girl who had been gruesomely abused by her aunt, who had been acting as her foster parent.

The rescue, which took place a few days ago in Osogbo, the state capital, was carried out by officials from the ministry in collaboration with the Nigerian Police’s Osun State Command.

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According to information provided by the Commissioner, Barrister Olabukola Olaboopo, the girl whose name has been withheld was discovered in extremely poor condition.

On a visit to her aunt’s house, Olaboopo discovered that the rescued girl was only fed once a week and was abandoned in the backyard of the house in an environment that resembled a garbage dump.

She said the girl was discovered in a weakened state, saying she was skinny, unable to stand, and had broken bones.

She thanked the Nigeria Police Force’s Osun State Command for their support and commitment, and promised that the ministry would continue to protect and uphold the rights of all children in the state in all circumstances.

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She went on to say that the state government had taken custody of the girl and had promised to house, educate, feed, and care for her health.

ACF advises Igbo to lobby for presidency in 2023

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Arewa Consultative Forum (ACF) chairman Chief Audu Ogbeh has advised South-East leaders and stakeholders to lobby if they want to produce the country’s next President.

He assured them that threatening and blackmailing would not win them the presidency.

In an interview with journalists in Kaduna, the ACF suggested that the zoning of the presidency be left to political parties as well.

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He claimed that political party management had deteriorated, and that parties should be in charge of zoning the presidency.

“Today’s political parties have abdicated their constitutional responsibilities of holding their elected leaders accountable,” he claims.

Chief Ogbeh recalled his time as the Peoples Democratic Party’s (PDP) National Chairman, saying that he organized the party’s first and only national conference, where they sat down with President Barack Obama, then-Chief Olusegun Obasanjo, and other governors and asked them to account for their actions since taking office.

He went on to say that party management in Nigeria was hopelessly low, and that there would be no good governance unless political parties were accountable to the people.

He told the Igbos that democracy encourages politicians to be friendly and reach out to a wide range of stakeholders across the country in order to gain their support.

Chief Audu Ogbeh advised that if the people of the South-East want the presidency in 2023, they should start lobbying, go around the country, and talk to people, lamenting that what Nigerians were seeing was so much hatred and attacks about the presidency in 2023, especially on social media.

He stated that no one had approached them to express an interest in running for office, and that they would support whoever was put forward by any political party because peace is what they most need.

The chairman of the ACF stated that they would not endorse people who were unable to perform the job because if they made a poor choice, the people would suffer as a result.

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He explained that ACF is not a political party, and that all they want to see is peace and harmony everywhere prior to, during, and after the 2023 general elections.

“This is barbarism,” Chief Ogbeh, a former minister of agriculture, said of the country’s insecurity. We’re all depressed, worried, and downhearted. We whispered to governments at all levels about how to reduce insecurity in the majority of cases, and where we have the opportunity, we make suggestions.”

Oyerinmade’s campaign for Ondo South Senatorial seat

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Mathew Oye Oyerinmade, a senior member of the All Progressives Congress (APC), is running for the Ondo South Senatorial Seat in 2023.

Oyerinmade, often known as MATO, is a businessman and entrepreneur.

Oyerinmade said he decided to run for senator after lengthy deliberations during a familiarization trip of the Ondo South Senatorial constituency.

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“I’ve been under tremendous pressure to run for a political office and actively participate in the country’s political operations.” I’ve finally succumbed to peer pressure and am ready to participate fully in the country’s politics. Over the years, I’ve worked extremely hard to establish my company empire, but my focus has switched from growing wealthy to making a positive difference in people’s lives.

“It’s past time for me to join other well-intentioned Nigerians in changing the narrative.” For the sake of Nigeria, our children, and those who are less fortunate in our society, we must take control of our own future.

“In politics, my concentration will be on ensuring that institutions function properly and that people of all classes and socioeconomic standing may benefit from government services.” I’d like to contribute to the development of policies that will assist diversify our economy by putting a renewed emphasis on agriculture, tourism, manufacturing, and youth empowerment.”

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Leadership, according to Oyerinmade, should be an instrument for service and followership.

“Make no mistake: everyone, to some extent, is a leader in their sphere of influence. So, if individuals get it right in their own sphere of influence, society would prosper in such a way that advancement is assured and routine,” Oyerimade added.

Nobody can stop me from becoming the governor of Akwa Ibom in 2023 –Godman Richman

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Godwill Richman’s name may not be well known in the political circles of Akwa-Ibom State or even the Peoples Democratic Party (PDP) in Nigeria. For followers of Akwa Ibom politics, however, he has always been a major force in the background in the state.

He spoke about his ambition and other issues in this interview with the Daily Sun in Abuja, where he was visiting for one of the strategic and consultative meetings.

Have you calculated the cost of contesting the 2023 governorship election in Alwa-Ibom, which is made up of heavyweight politicians?

Let me state the obvious: a father comes before a son or a grandson, and a grandson cannot exist without a father. The political heavyweights you’re referring to in Akwa-Ibom State are entirely my creations from 1999 to the present.

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I began working with Ibrahim Babangida, the Military President, when I was 18 years old. In 1999, I brought in Amb Emem, who later brought in Ubong Victor Attah to succeed me as governor of Akwa-Ibom State. Because Victor Attah is my uncle, I worked with him as if he were a brother.

I advised him in particular where he needed to entice something from the federal government to the state, using onshore and offshore resource control as an example. During the Olusegun Obasanjo administration, I was instrumental in ensuring that Akwa-Ibom had both offshore and onshore resources to empower our people.

In 2007, I gave Godswill Akpabio a strong mandate to become the state’s next governor. Anyone familiar with the Wadata House will be aware of the story, and Godswill will not be able to deny me today. I collaborated well with him and gave him sound advice.

After a fundraising event, I told him to board the plane, but he confessed that he was afraid to enter Uyo because of one General Lakpan. But I assured him that General Lakpan would leave the state for you on that day. As a result, when we arrived in Uyo, I told my driver to take me to the General’s residence. I demanded that he explain why he was not supporting my candidate and that he park his truck and leave the state.

I told him that if he kept being stubborn, he should go get the gun he left in the Barracks and have it serviced for him. But the next day, he left the state, never to return. I even moved to his compound on election day to see how the General would influence the outcome, but he did not come out until the election results were announced.

Because I was in charge of five governors, my influence was not limited to Akwa-Ibom alone. Rotimi Amaechi, Timi Sylva, Niyel Imoke, and Ararume were among those who left because he refused to listen to my small advice. I also assisted Emmanuel Udom in his election as governor. In 2019, I told everyone to vote for Udom and the PDP.

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So, to directly respond to your question, I can confirm that I, Dr. Godwill Richman, have been in the halls of power since 1999. Obasanjo and Goodluck Jonathan are both familiar with Richman. I’m also a member of the PDP’s who’s who.

Udom has tried, as have others before him, but Akwa-Ibom has not yet reached the level of excellence that I desire for the state. I told Akpabio that in his eight years, I want to see Akwa-Ibom replicate Dubai. Through the federation account, I pumped money into the Akwa-Ibom government.

From 2007 to 2015, the state had the most resources, which was a good thing. He tried, just like Udom, but I want to make Akwa-Ibom the Dubai for all to see and know that with Richman in charge, what people think is impossible is very possible.

What percentage of the people of Akwa-Ibom have invested in your project?

I would not have bothered with publicity to sell myself before becoming the governor of Akwa-Ibom State if it had been left to me alone. To be honest, I only need a two-week campaign to become governor. However, in order for people to enjoy the campaigning process, I must adhere to all of the procedures.

I can tell you that before I even announced my intention, I received calls from all over the country endorsing me. All of the PDP members persuaded me not to leave the party six months after the 2015 general elections. All the women, youths, elders, and children are clamoring for Richman as I speak.

People are already selling their homes to support my campaign. However, the current issue in the state is that the governor has ordered that all campaigns for the 2023 elections be kept to a minimum. Because I am on a divine mission to transform Akwa-Ibom state into a model city, the elders have announced that they have pitched their tents with Richman, whom they know, trust, and believe in.

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In fact, as far as I’m concerned, there is no one standing in my way of becoming governor of Akwa-Ibom State. I don’t have any competition because the other PDP candidates are all my boys. They will not claim that they have not benefited from me in the past or present.

Besides, becoming governor is not a project for which one simply wakes up and declares his desire. Experience and savviness are required in a governorship race, and that is exactly what I am bringing to my constituents.

Is the zoning system beneficial to you, and are you a zoning proponent?

Zoning favored not only me, but also my neighbors. Under the Uyo Senatorial District, there are four federal constituencies. Uyo, Ibiono Ibom, Etinan, and Nsit Ubium are their names. Except for Uyo, the country’s largest constituency, all have been filled.

My colleagues have agreed that it is now our turn, and they have even micro-zoned the ticket to me. The governor has also instructed the elders to appoint someone from my zone as governor.

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The governor, in his infinite wisdom, has promised to keep it open in my zone. So, after consulting with my God, family, and political allies, I can declare that I am the anointed one. I can confirm that the ticket is valid.

Are you not overconfident to the point of dismissing the APC’s threat?

There is no Jupiter under the sun, no dragon under the sea, and no maggot beneath the earth, in my opinion, that can prevent Richman from becoming governor of Akwa-Ibom State.

As I speak, every APC member has told me that once the ticket is given to me, they will rally behind me because they know no one can challenge or match me. In Anan, Akpabio is no match for me; Akpanudoedehe is my bag boy, Sam Akpan is my messenger; there is no one who can compete with me.

Because I taught them all the system and integrated them into it, there is no one in the APC who can challenge me. If the ticket is given to me, the APC in Akwa-Ibom state will die.

If they incite my wrath, I will hold elections in three states in addition to my own. I’m not afraid at all going into this race because there’s no reason to be. I’m already beaming because I see a bright future ahead of me with no adversaries.

What kind of support have you gotten from people on the national level?

I’m in Abuja to meet with all of the parties involved. I’ve already established contacts and

We’ve made plans. I want to reassure you that during consultations, I have stepped outside of my comfort zone. If

When I become governor, I am obligated to work with any party in power at the federal level to ensure the country’s and my state’s success and development.

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If you are elected governor, how do you plan to achieve your goal of establishing cement companies in three different locations across Akwa-Ibom?

As governor of Akwa-Ibom State, I will construct the heaven that I require and ensure that I remain there. I envision a scenario in which the president of the country comes to my state for a loan to pay federal salaries, and I will ask him how much he requires.

The mineral resources deposited in Akwa-Ibom are simply too great for a single state to handle. What we need now is my political will to explore the deposits and bring development to the state and its people. It will cost less than $5 billion to develop a standard international cement company, and the state already has more than that.

A standard international refinery will cost at least $10 billion to build, and while we have the technology, we lack the political will. We have the raw materials in an LGA that can last 50 years or more. The state has raw materials for the ceramics industry as well as other deposits. For the development of my state, I want to focus on solid mineral exploration.

I am aware that it is more valuable than oil money. As I speak, I have people from Ukraine, Russia, Hungary, China, and even Israel interested in coming to Akwa-Ibom to develop the state’s solid minerals. We’ll explain why we’re so reliant on oil money.

As governor, I will not travel to Abuja to request oil funds; instead, Abuja will travel to Akwa-Ibom to request a loan, which I will gladly grant. The task at hand is to develop our mineral deposit and make use of our land, sea, and air infrastructure.

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How do you intend to engage the throngs of unemployed youths?

One of my five goals is to create jobs. Others include revenue generation and attracting foreign exchange through the development of solid minerals. We would have created massive employment in the state if I built three international standard poultry farms in each senatorial district, as well as three ceramics industries and cement companies in three senatorial districts.

There will be no indigene of Akwa-Ibom at home or in the diaspora wasting time looking for work during my first four years. During my second term, I plan to hire people from neighboring states to work in Akwa-Ibom companies. Of course, I’m sure you’re aware of Ibom Air’s current recruitment efforts. We haven’t even discussed land and sea transportation, which will create a lot of jobs.

By the time we bring our seafood out of international waters, develop all of the maritime areas and turn them into cold rooms, and bring in all of the international investors to train our people in the international fishing system, the Fulani will be parked off the streets because no one will eat cow meat anymore; instead, people will come to Akwa-Ibom to eat and source seafood, which they will buy into their warehouses. We’ll also improve the land transportation system so that anyone can get to our state.

What are your plans for the state’s security?

After spending time in Israel, I want to use the Israeli security architecture and model to secure the country. Even though Israel is surrounded by enemies, it continues to stand strong. Akwa-Ibom will be well-protected under the Israeli security model, allowing businesses to thrive.

Ordinary citizens will be able to start small businesses if they so choose. Today, it’s rare to see Land Cruisers or other exotic cars on the streets of Akwa-Ibom State. Keke and bicycles will be prominently displayed.

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We’ll change the system because, with our mineral deposits, Akwa-Ibom should be able to compete with other states, and Keke will no longer be able to control the transportation system. When we arrive, we will equip people with taxis to create a model city transportation system.

We will also use a microfinance system to empower market women, Akara sellers, and small and medium-sized businesses. Because they know their citizens, we will make the village heads the chairmen of that soft loan. We will empower at least 50 people in each village, and Alwa-Ibom State will be free of poverty in three to four years.

Nigeria Confirms 754 New Cases in COVID-19

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The deadly coronavirus, also known as COVID-19, has been confirmed in 754 new cases in Nigeria.

The cases were confirmed by the Nigeria Centre for Disease Control (NCDC) on Friday via its official Facebook page.

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The new cases were reported in 12 states: “Lagos-595, FCT-68, Imo-49, Edo-3, Oyo-9, Delta-5, Katsina-4, Kano-3, Plateau-3, Ekiti-2, Gombe-2, Rivers-1,” according to the NCDC.

“In today’s report, there are 595 confirmed cases for Lagos state for the 08th (294) and 09th (301) December 2021,” says the report. “68 Confirmed cases reported for FCT for December 08th (28) and 09th (40), 5 Confirmed cases reported for Delta state for December 08th 2021, 16 Discharged cases reported for FCT for December 08th 2021, 1 Discharged case reported for Lagos state for December 06th 2021, 1 Death case reported for Lagos state for December 06th 2021, 4 States with Zero Cases Reported: Ondo, Ogun, Osun, and Sokoto,” according to the NCDC added.

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The total number of confirmed cases in the country now stands at 215,918, with 207,619 cases discharged and 2,981 COVID-19-related deaths.

Buhari joins other international leaders in expressing condolences for the death of India’s top military officer

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President Muhammadu Buhari has joined international leaders in mourning the death of India’s top military commander, Chief of Defence Staff Gen Bipin Rawat, his wife, and 11 people in a helicopter crash in Tamil Nadu’s southern state.
The President called the killings “irreparable losses to the Indian military and the nation” in a statement to Indian Prime Minister Narendra Modi on Thursday.

The late Chief of Defence Staff was generally praised for reforming the Indian military and security forces.

“On behalf of myself, the Nigerian government, and the Nigerian people, I express our heartfelt condolences to the Rawat family, the families of the deceased, as well as the Indian Military and nation, as you grieve the Chief of Defence Staff, his wife, and 11 other fine crop of officers,” he added.

Troops rescue 20 policeman abducted by terrorists

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Nigeria’s Defense Headquarters announced on Thursday that troops had recovered 20 police officers kidnapped by Boko Haram militants in Buni Yadi.

Brigadier General Benard Onyeuko, the Acting Director of Defence Media Operations, said the attack by the troops of Operation Hadin Kai against the terrorists resulted in the deaths of 62 insurgents.

“At Buni Yadi, own troops recovered 20 kidnapped NPF officers who were seized when terrorists attacked the Police Division.”

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In the last two weeks, 192 terrorists and their families, including 51 adult males, 67 adult females, and 74 children, had surrendered to the military, according to Onyeuko.

“The terrorists who surrendered were appropriately profiled and handed over to the competent authorities for further action,” he said.

ASUU EBSU Sacks Chairman Igwenyi

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The Academic Staff Union of Universities, Ebonyi State University, ASUU EBSU, has terminated its acting Chairman, Dr. Ikechuku Igwenyi, and warned the general public to stay away from him.

Dr. Nwambeke Godfrey, the acting Chairman of ASUU EBSU, told journalists yesterday that Dr. Ikechuku Igwenyi had been suspended from office as a result of a resolution passed by Congress on September 16, 2021, for allegedly engaging in acts inconsistent with the ASUU constitution, financial impropriety, and usurpation of other executive members’ offices.

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Mr. Igwenyi, according to Nwambeke, blatantly disobeyed congressional resolutions, one of which required him to submit several annual financial/activity reports to Congress within two weeks after being suspended from office.

“The suspended acting Chairman defiantly refused to comply with the Congress’s directives, forcing a new ASUU EBSU Congress to unanimously fire the leadership and appoint a Caretaker Committee to run the Union’s business and hold a fresh election to put the Union back on track.” The National Office of ASUU was put on notice on September 17, 2021, as a result of all of this,” the acting Chairman said.

He noted that Congress strongly denounced the extension of the tenure of the former acting Chairperson, Dr. Igwenyi, and other executive officers in clear violation of the constitution, as stated in Article 9(iv) and 10 of the Constitution (vi).

“The ASUU EBSU Congress expressed dismay, embarrassment, and betrayal of confidence in the former Ag. Chairperson for failing to submit an annual report of the branch’s operations as required by the constitution, thereby violating Articles 12,(iv), 12e(v), 12c(ii), and 12f(iii) of the ASUU constitution.”

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“It is for these and other reasons that we wish to draw the attention of the general public to the activities of the fired former acting executive led by Ag. Chairperson, Dr Ikechuku Igwenyi. Anyone interacting with him under the guise of ASUU-EBSU is doing it at their own risk,” he said.

As of the time of posting this report, our Correspondent was unable to contact Mr. Igwenyi for a response because he did not pick up or return calls to his mobile phone.