Value

5 reasons why Bitcoin could be a better long-term investment than gold

The emergence of forty-year high inflation readings and the increasingly dire-looking global economy has prompted many financial analysts to recommend investing in gold to protect against volatility and a possible decline in the value of the United States dollar.  For years, crypto traders have referred to Bitcoin (BTC) as “digital gold,” but is it actually a better investment than gold? Let’s take a look at some of the conventional arguments investors cite when praising gold as an investment and why Bitcoin might be an even better long-term option. Value retention One of the most common reasons to buy both gold and Bitcoin is that they have a history of holding their value through times of economic uncertainty. This fact has been well documented, and there’s no denying that gold has ...

Altcoin Roundup: Three layer-1 protocols see inflows amid choppy, volatile market conditions

Layer-1 (L1) protocols are the foundation of the decentralized application ecosystem, with the Ethereum network dominating the landscape in terms of the number of protocols launched on-chain and total value locked (TVL), followed by BNB Chain and Fantom.  As the sideways market of 2022 drags on and serious projects use the time away from the frenzy of bull markets to work on development, several L1 protocols have been outperforming the field and making gains despite weakness in the wider crypto market. Here’s a look at three L1 protocols that are seeing growth in their decentralized finance (DeFi) communities and an influx of TVL on their networks. Waves Waves is a multi-purpose blockchain protocol that was originally launched in 2016 and has since undergone several transformations al...

NNPC commits to ensuring energy sufficiency, wealth creation for Nigerians

The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to ensuring effective stewardship of the nation’s hydrocarbon resources to guarantee energy security and drive wealth creation in Nigeria. The Group Managing Director of NNPC, Mallam Mele Kyari, made this assertion while delivering the keynote address at the 2021 Nigeria Oil and Gas Conference and Exhibition (NOG 2021) on Tuesday in Abuja. Speaking on the topic: “Vision and Priorities for Nigeria’s Energy Transformation,” Mallam Kyari stated that for a nation with a teeming youth and a developing economy, Nigeria needed the right policies to unlock its huge economic potential, stressing that NNPC was working towards bridging the energy gap to multiply wealth for its varied stakeholders. “We see a nation that m...

NLC urges National Assembly to transform NNPC to public liability company

The Nigeria Labour Congress has cautioned the National Assembly to handle with utmost care what it described as the very sensitive issue of the unbundling of the Nigeria National Petroleum Corporation. It urged the lawmakers to transform the NNPC to a public liability company as part of the reforms of the oil and gas sector captured in the Petroleum Industry Bill. The NLC President, Ayuba Wabba, said this on Tuesday, in a statement lauding the passage of the PIB titled, ‘Congress commends the national assembly for passing the petroleum industry bill – demands that the NNPC be transformed into a public liability company.’ It stated, “We know that the process of making the PIB a law has not been completely consummated as the passed bill would still need to be harmonized by a conference of th...

Facebook hits $1 trillion valuation for first time

Social media giant, Facebook, has hit a $1 trillion valuation, following a dismissal of two antitrust lawsuits against the company. Facebook’s stock closed higher on Monday at $355.64 per share which contributed to the trillion-dollar valuation, Business Insider reported. The rise came after a United States court dismissed complaints by the Federal Trade Commission and a group of state attorneys generals against the social networking company. The FTC has claimed that Facebook is exercising monopoly as the social media giant controls over 60% of the social-networking market. In the ruling of the case, US District Judge James Boasberg in Washington dismissed the claim, as he explained that there was no proof to support their claim. In a separate case, 46 state attorneys general formed a coal...

Bishop Oyedepo: We must deal with social media monster

President, Living Faith Church (Winners Chapel), Bishop David Oyedepo, has urged the government and well-meaning Nigerians to deal with the monster of social media. Bishop Oyedepo called for an urgent step to device means of checking free and unhindered access to social media. He added that the present generation may lose her heroes to social media disaster, adding that “we must wake up from our slumber to deal with this monster.” The clergyman made the call at the weekend during the seventh convocation ceremony of Landmark University, Omu-Aran, Irepodun local government area. 46 students of the institution graduated with first-class honours in the 2021 academic session He spoke on “combating the challenge of education without integration”. Oyedepo said putting measures to check free acces...

Jamiu Abiola: MKO, Kudirat died in vain if Nigeria’s democracy collapses

Getty Images Son of Chief MKO Abiola, winner of the 1993 presidential election, Alhaji Jamiu Abiola has floated a foundation named after his mother, Alhaja Kudirat Abiola to work for peace and unity of Nigeria in the face of agitations for secession. Jamiu Abiola said it would mean that his parents, Alhaja Kudirat and Chief MKO Abiola died in vain if Nigeria or its democracy collapse. He spoke in Zaria, Kaduna State on Saturday while launching the Kudirat Abiola Sabon Gari Peace Foundation in memory of his Zaria-born mother, who was assassinated on the 4th June 1996. Alhaji Jamiu Abiola who is the Chairman of the Foundation said, it was founded to work against the forces trying to bring Nigeria down, adding that the creation of Nigeria by God was not a mistake and the country has gone too ...

Bauchi residents lament erratic power supply

Some residents of Bauchi metropolis have expressed concerned over the erratic power supply in the area. Some of the residents who spoke with newsmen in seperate interviews, said the situation had made life unbearable for them. Newsmen report that Gwallameji area of Bauchi and other parts of the metropolis are leaving in darkness in the past months following vandalisation of electrical facilities in the affected communitie. They urged the Jos Electricity Distribution Company (JEDCO) to address the problem and adopt proactive to protect its facilities against acts of vandalisim. Mr Paul Ugochukwu, a resident of Rafin Zurfi area of the metropolis, said they had been experiencing erratic power supply for the past three months sequel to the alleged destruction of the power transformer in the ar...

Customs arrests six for smuggling adulterated diesel in polythene bags

The Nigeria Customs Service (NCS) on Friday paraded six suspects who smuggled 45,000 litres of adulterated diesel contained in 750 giant polythene bags, which were carefully concealed among sacks of sawdust to deceive security operatives. The seized product has an estimated value of N21,920 million. Also seized were 237 bags of 50kg foreign rice hidden in a petrol tanker. The Controller Enforcement at the Customs headquarters, Kayode Olusemire while parading the smugglers said that the Customs officers on patrol intercepted the smugglers in Suleja, who immediately declared that they were conveying sacks of sawdust from Port Harcourt to Kaduna State. “But the officers perceived unusual odour despite concealing it in sawdust, prompting them to dig further. “That was when they discovered dies...

IPC, NGO reject bill seeking to empower NBC to regulate DSTV, Startimes’ tariffs

A bill seeking to regulate tariff of digital satellite service providers was on Wednesday rejected by several participants at the public hearing on the bill. The bill, sponsored by Unyime Idem (PDP, Akwa-Ibom), seeks to give the National Broadcasting Commission (NBC), the powers to regulate the tariff charged by digital television platforms. The bill proposed that NBC “Regulates and review through broadcasting codes the tariff being charged by the digital satellite television services broadcasting in Nigeria and other subscription policy for subscribers.” If passed, digital satellite service providers like DSTV, StarTimes, TSTV, GOTV and others will have their subscriber fees regulated. It was first introduced to the House on March 19, 2020 and was consolidated with other NBC bills on the ...

Nigerian government mulls deployment of GPS to monitor constituency projects, expenditure

The Federal Government, yesterday, considered the deployment of Global Positioning System (GPS) across the six geopolitical zones, in a bid to monitor constituency projects and expenditure. It also considered a bottom-up approach in the siting and location of zonal/constituency projects to enhance and ensure ownership by the constituents. This was contained in a communiqué issued at a 2-day stakeholders’ interactive forum organized by the Ministry of Special Duties and Intergovernmental Affairs, yesterday in Abuja. The communiqué which was signed by Simon Tyungu, a Special Adviser to the Minister of Special Duties and Intergovernmental Affairs, George Akume, added that ICT platforms should be created for monitoring and evaluation of projects to reduce physical exercise. According to him, “...

House displeased with EFCC over delay in disposal of recovered N46 billion from ex-oil minister

The House of Representatives has expressed displeasure with the Economic and Financial Crimes Commission (EFCC) over the delay in disposing of the N46 billion assets seized from the former Petroleum Minister, Mrs Diezani Alison-Madueke. The Chairman of the Ad hoc Committee on Assessment and Status of All Recovered Loots Movable and Immovable Assets from 2002 to 2020 by Agencies of the Federal Government of Nigeria for Effective Efficient Management and Utilisation, Hon. Adejoro Adeogun, expressed his displeasure on Friday when the Chairman of the EFCC, Mr. Abdulrasheed Bawa, appeared before the committee. The chairman of the committee opined that it was not ideal to continue keeping such recoveries as they were losing value over time. He said: “Given the financial situation of Nigeria, sho...

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