government
Point of no return? Crypto investment products could be key to mass adoption
The first Bitcoin (BTC) futures exchange-traded fund (ETF) was launched in the United States back on October 19, 2021. Since then, a number of other cryptocurrency investment products have been launched in various markets. That first ETF, the ProShares Bitcoin Strategy ETF, quicklybecame one of the top ETFs of all time by trading volume on its debut, and soon after, several other Bitcoin futures ETFs were launched in the United States, providing investors with different investment options. To Martha Reyes, head of research at cryptocurrency trading platform Bequant, these options are important. Speaking to Cointelegraph, Reyes pointed out that in traditional finance, ETFs have “proved to be incredibly popular in recent years, with ETF assets expected to reach $14 trillion by 2024.” Reyes s...
Reelected Miami mayor to take 401k retirement savings partly in Bitcoin
The long-standing mayor of Miami Francis Suarez has now announced plans to take a part of his 401(k) payout in Bitcoin (BTC) just a month after he started receiving salary in BTC. Soon after becoming the first United States lawmaker to accept a part of his salary in Bitcoin, Suarez wants to dedicate a part of his retirement savings to Bitcoin based on “a personal choice,” he said in an interview with Real Vision: “I just think it is a good asset to be invested in. I think it’s one that’s obviously going to appreciate over time. It’s one that I believe in.” Suarez highlighted that Bitcoin’s success is tightly tied to the confidence in the system, which is inherently an “open-source, un-manipulatable system”. The mayor revealed that he has started receiving salary payments in Bitcoin t...
Cuba blames unrest on U.S. interference as Joe Biden backs protests
Cuba blamed historic protests that took place over the weekend on U.S. “economic asphyxiation” and social media campaigns by a minority of U.S.-financed counter-revolutionaries, while U.S. President Joe Biden said he stood with the Cuban people. The streets of Havana were quiet on Monday, although there was a heavy police presence. Outages in mobile internet – the only way many Cubans have of accessing the web – were frequent. Chanting “freedom” and calling for President Miguel Diaz-Canel to step down, thousands of Cubans joined street protests here from Havana to Santiago on Sunday in the biggest anti-government demonstrations on the Communist-run island in decades. At least 80 protesters, activists, and independent journalists had been detained nationwide since Sunday, according to exile...
Anxiety in Bayelsa as four local councils cannot pay salaries
Trouble is looming in four local government areas in Bayelsa State over the inability of the council to pay the salaries of its workers. The affected local government areas – Ogbia, Nembe, Sagbama and Ekeremor – are said to be owning three months salaries. The other four local government areas namely Kolokuma/Opokuma, Yenagoa, Southern Ijaw and Brass are said to be struggling but have a financial edge due to the internally generated revenue. Bloated wage bills in the troubled local government councils and the various debts they are servicing have eaten up their finances such that they cannot meet the financial obligations to their workers. The state government had recently taken over the payment of teachers salaries in the Ogbia Local Government Area to prevent industrial action by the tea...
President Buhari: Nigerian government to implement policies that will tackle Niger Delta challenges
President Muhammadu Buhari has expressed his administration’s desire to implement genuine policies that would help in tackling problems affecting the Niger Delta region to make life more meaningful to the people. Buhari gave the assurance during the commissioning and handing over of the erosion control and road improvement works in Owo Local Government to the Ondo State Government. The president, who was represented by the Minister of State, Ministry of Niger Delta Affairs, Sen. Omotayo Alasoadura, noted that the erosion control of flooded area/road project was one of the ecological intervention projects approved and executed by the federal government through the Ecological Fund Office, in the Office of the Secretary to the Government of the Federation (OSGF), for the good people of Owo an...
South Africa extends tight coronavirus restrictions for another 14 days
South Africa extended tight COVID-19 rules on Sunday for another 14 days, maintaining restrictions that include a ban on gatherings, a curfew from 9 p.m. to 4 a.m. and a prohibition on the sale of alcohol. The country, the worst-hit on the African continent in terms of recorded cases and deaths, is in the grip of a third wave of infections driven by the more infectious Delta coronavirus variant. “Our health system countrywide remains under pressure,” President Cyril Ramaphosa said in a televised address to the nation. Early this month South Africa recorded a new record of over 26,000 daily cases, stretching hospitals to breaking point. Ramaphosa moved the country to the fourth level of a five-tier restriction scale in late June as infections climbed, promising to review the restrictions af...
Obudu contract debt: Appeal court reserves judgment against Cross River
The Abuja division of the Court of Appeal has reserved judgment in the appeal filed by a private firm, Zedici Capital Ltd, against the Cross River State Government over a N3.8 billion contract debt. The appellant, Zedici Capital Ltd, is the firm that remodelled the Obudu Mountain Resort in Cross River State, now a subject of litigation. The three-member panel of the Court of Appeal, headed by Justice Peter Ige, reserved the date after counsel to the parties had adopted their legal submissions for and against the appeal, that is challenging the judgment of a High Court of the Federal Capital Territory (FCT), which had in 2019, refused to affirm the arbitral award to Zedici Ltd over its investment of N3.8 billion in the resort. Justice Ige announced that a date for the judgment would be comm...
Lagos assembly begins audit of 57 councils
The Lagos House of Assembly has commenced an audit exercise for all the 20 Local Government Areas (LGAs) and the 37 Local Council Development Areas (LCDAs) in the state. The Chairman, House Committee on Public Account (Local), Mojeed Fatai, made this known in a statement issued in Lagos on Saturday. Fatai said that the committee was expected to submit its report to the House after the weeklong exercise. The lawmaker explained that the exercise was aimed at checking probity and accountability in the local government administration as provided in the 1999 (Amended) Constitution. He said: “The essence of the exercise is to allow the committee go through the 2019 report of the Auditor General without fear or favour to any local council indicted by the officials of the Auditor General. “Also, t...
Nigerians urged to reject PIB for failing to address key issues
Socially relevant and need-meeting organisations in partnership with civil society movements have called on Nigerians to massively reject the long-expected PIB as it has failed to address fundamental issues. Rather the organisations said that the outcome of PIB was mischievous and would compound the problems of the communities, just as it would create another avenue to make the rich even richer while the suffering communities continue to languish in difficulty and poverty. The coalition group said the PIB “failed to properly address the lingering issues of the oil and gas host communities” submitting that the recent position on critical issues is a far cry from the yearnings of oil and gas host communities. “The current version of the Petroleum Industry Bill failed to address community, ec...
#EndSARS: Ogun panel recommends payment of over N218 million to victims
Ogun Governor, Prince Dapo Abiodun, has assured that he will implement the report of the State’s Judicial Panel of Investigation on Police Brutality and Extra Judicial Killings. The Governor who gave the assurance while receiving the report said its implementation was necessary towards having a peaceful society and engendering of a more robust relationship between the people and security agencies. Governor Abiodun who spoke on Friday appreciated the Panel members for their selfless efforts and contributions towards the successful completion of the task. “I believe that the implementation of this report will end the gory experience often encountered by residents of the State”, the Governor assured. The State’s helmsman added that it is important for all of us as a people and security agenci...
Yahaya Bello: Nigeria deserves the best captain no matter where he comes from
The Governor of Kogi State, Alhaji Yahaya Bello, has said that rather engage on the unconstitutional issue of rotational presidency, what Nigerians should focus on is look for that Nigerian, no matter where he comes, who can be the captain to pilot the country to the promised land. The governor who stated this at the First Annual Governor Yahaya Bello (GYB) Seminar for Nigeria’s Political and Crime Correspondents/Editors at the Transcorp Hilton, Abuja, said that even after 16 years of Peoples Democratic Party (PDP) and another six years of All Progressives Congress (APC), in the country, the problems of the nation has not been solved by the rotational presidency that has taken place over the years. Bello insisted that the political party must not limit the choice of Nigerians to any region...
Lagos marks 70 houses for demolition, 20 on the Island
The Lagos State Building Control Agency (LASBCA) said it is set to demolish 70 distressed buildings in the state. Twenty of the buildings are on Lagos Island. The agency made this known after bulldozing a partially collapsed house at 19 Church Street on the Island. LASBCA spokesman, Mr Gbadeyan Abdulraheem, said the General Manager of the agency Mr Gbolahan Oki, supervised the demolition. Oki said it has became an urgency to immediately remove the dilapidated and distressed building, which were no longer fit for human habitation, to prevent collapse. He said many defective buildings had been marked for removal in a bid to end the era of building collapses. Oki noted that his team had earlier visited the distressed buildings to get an on the spot assessment and asked the residents to reloca...
