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Navigating 2024: Strategies for Responding to Prophetic Outlooks in Nigeria

By
Rasheed Adebiyi
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3

The dawn of a new year often brings forth a cascade of predictions and prophecies, some spiritual, others grounded in economic outlooks. In the case of the renowned Redeemed Christian Church of God (RCCG) General Overseer, Pastor Enoch Adeboye, his recent forecast for 2024 heralded a challenging start before an eventual upturn. His message hinted at both adversity and opportunity, a mixture of caution and hope that many have grappled with in their interpretations. He was reported to have said that things would get worse first before it gets better in the year. According to Daily Post, the pastor who oversees more than 6 million members in over 4,000 parishes spread across Africa, Europe, Asia and America, was quoted to have said:

”In 2024, things will get worse before it gets better. The wind is blowing, pray to God to allow the wind to blow you good. Some serious secrets would come into the open in Nigeria. There are some people who would start the year as nobody but become significant before the end of the year. Get ready to grab many opportunities this year. There will be divine intervention in those places that are hot. There will be medical breakthroughs in areas like asthma, cancer, hypertension, and diabetes”,

This prediction spoke of impending difficulties, revealing hidden truths within Nigeria while also promising breakthroughs and divine intervention in various realms. Yet, how individuals respond to such prophecies typically unfolds in three primary perspectives: the intellectual, the perceptual, and the action-oriented.

Intellectual Response

An intellectual approach involves a pragmatic analysis of the prophecy, dissecting it in a realistic context. In considering Pastor Adeboye’s words, it’s akin to acknowledging the inherent challenges that often accompany the start of a new year. The initial months often witness financial strains, especially with January’s financial commitments and the slow economic circulation affecting both employees and business owners alike.

This perspective rationalizes the prophecy in the context of practical circumstances, acknowledging the potential for initial adversity before improvement—an acknowledgment grounded in economic cycles and historical trends.

Perceptual Response

The perceptual response tends to delve deeper into the spiritual aspect of the prophecy, often seeking divine solutions rather than pragmatic approaches. Individuals adopting this perspective might lean heavily on faith and divine intervention, hoping for miracles to address their challenges. While spirituality can provide solace and strength, solely relying on faith without corresponding action can limit the practical outcome. Expecting divine intervention without proactive efforts to improve one’s situation might result in missed opportunities.

Action-Oriented Response

An action-oriented response involves a proactive stance, seeking to translate the prophecy into actionable steps. This perspective entails dissecting the prophecy, identifying potential indicators aligning with its predictions, and strategizing accordingly. Those embracing an action-oriented approach to Pastor Adeboye’s forecast might prepare for tough times by diversifying income sources or building robust contingency plans for businesses. This perspective emphasizes preparation and strategic actions to navigate through the anticipated challenges.

The Winning Formula 

Each perspective carries its own implications for how inRCCGRCCdividuals commence and potentially conclude the year. The intellectual approach grounds responses in realism, acknowledging potential difficulties but also preparing for subsequent improvement.

In contrast, the perceptual approach leans heavily on spirituality, which can offer hope but might overlook the necessity of proactive measures. Meanwhile, the action-oriented stance prioritizes strategic planning and readiness, aiming to mitigate the foreseen challenges and capitalize on opportunities.

Ultimately, a balanced combination of these perspectives, in proper proportions, could offer a winning formula. Recognizing the realism of initial challenges, while also acknowledging the potential for divine intervention, and translating these insights into proactive strategies, could pave the way for a more resilient and successful year.

The beginning of 2024, as with every year, might indeed bring forth initial trials before eventual improvements. How individuals respond to these challenges, drawing from a balanced mix of intellectual analysis, perceptual faith, and action-oriented strategies, could significantly shape their journey through the year.

Abia State Improves Foreign Direct Investments in Q3 2023

By
Ndubuisi Ekekwe
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0

The roll call of foreign direct invesments in Nigeria, Q3 2023, according to the National Bureau of Statistics. 

  1. Lagos: $1.79 billion (64%)
  2. Abuja: $799.21 million (28%)
  3. Abia: $150.09m
  4. Akwa Ibom: $39.13 million
  5. Ogun: $27.09 million
  6. Adamawa: $4.5 million
  7. Anambra: $4 million
  8. Niger: $1.50 million
  9. Ekiti: $38,250

With the formation of Abia Global Economic Advisory Board to be “made up of accomplished internationally recognised experts from across the globe who will help in our journey to take our state to the world as a preferred investment destination”, we expect Abia to do more  

#OttiisWorking (OIW) 

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The Prohibition Of Substitutional Arrest

By
Stanley Alieke
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1
A police officer search Catholics before they attend a Mass to celebrate Good Friday in Abuja, Nigeria Friday, April 18, 2014. Nigerian Catholics joined Christians around the world in celebrating Holy Week ahead of Easter Sunday. (AP Photo/ Sunday Alamba)

There is this unfortunate practice that some law enforcement agencies do engage in; if they need to arrest a suspect and the suspect is at large (that is cannot be found), they will arrest and detain somebody close to the suspect which is usually a family member or a friend or a colleague until the suspect shows up. 

I have severally heard of a law enforcement officer calling a suspect who is at large and threatening to arrest and detain someone who has a close relationship with the suspect until the suspect turns himself in before the other person could be released. 

This used to be a strong practice amongst law enforcement agencies until some lawyers and rights activists campaigned against it and this practice is called substitution arrest or arrest in lieu. 

Substitutional arrest is the arrest of one person in lieu or in place of another. It occurs when a person who has not committed or has not been alleged of committing any offence is arrested because their friend, colleague or relative who is alleged of committing an offence cannot be found or arrested by the police.

This practice is illegal and unconstitutional and anybody who is arrested or detained in lieu of another person has the right to action against that law enforcement agency. 

The law is to the effect that nobody should be made to suffer or pay for the sins of another person. A husband should never be arrested or made to suffer for the crime of his wife, so also the wife for the husband or the parents for the child or the child for the parents. Nobody is Jesus Christ and therefore cannot be prosecuted for the offence of another person; individuals are to bear and pay for the crimes alone and if the suspect cannot be found or cannot be brought to book to answer for the crime that becomes the end of the case. 

The exception to this rule is that if a person is found to have participated or in any way or capacity contributed as an accessory either before or after the fact to the commission of the crime, then that person could be arrested and detained but for only the part he or she played in the commission of the crime. Also, the law enforcement agency can invite a person who has no part in the commission of a crime if they believe that the person has some vital information that will be useful to them or that will facilitate the arrest of the suspect or help with their investigation. When a person is invited, he may be asked to write a statement but the law enforcement investigating officer is obligated to inform such a person that he or she is not under arrest and can decide to leave whenever they want to. 

Prohibition of substitutional arrest or arrest in lieu has been provided in Section 7 of the Administration of Criminal Justice Act 2015 which states that “a person shall not be arrested in the place of a suspect”. This summarily implies that it is illegal for the police to arrest a person who has no direct or indirect participation in the commission of a crime. 

 

Pushd (PUSHD) is tipped to be the presale of 2024 and overtake Toncoin (TON) and Litecoin (LTC)

By
TI Partners
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3

In the much awaited presale events of 2024, Pushd (PUSHD), a rising star in the cryptocurrency space, is poised to upend long-standing titans like Toncoin (TON) and Litecoin (LTC). In addition to entering the market, Pushd is taking a bold stand to change the rules and reshape peer-to-peer decentralized transactions in the web3 environment.

Toncoin (TON): Navigating Regulatory Challenges and Ongoing Development

Originally led by Telegram, Toncoin (TON) is a native of The Open Network TON and was abandoned by its social media founder due to regulatory issues with US authorities. Despite all odds, independent developers took control and advanced the project. With forward-thinking projects like TON Bridge and TON Swap, Toncoin (TON) is a monument to interoperability, speed, and adaptability. At $2.38 right now, Toncoin (TON) has increased in value by 5.79% over the past day, exhibiting impressive price performance. Toncoin (TON) is being watched closely as its continuous development positions it as a contender in the upcoming bull market.

Litecoin (LTC): A Decentralized Powerhouse Showing Resilience in Market Dynamics

With a record 1 million transactions per day in 2023, Litecoin (LTC), the decentralized asset enabling borderless transactions, reached a significant milestone. December saw strong success from Litecoin (LTC), which showed tenacity in the face of market volatility with a 7% price gain, active addresses, and daily transactions. The price of Litecoin (LTC) rose from $58.83 on September 11 to a local high of $76.28 on December 8, despite profit-taking actions. This indicates a significant association with Ethereum. Large wallet investors are making calculated moves, as seen by the Santiment chart, which supports the burstiness and durability of Litecoin’s (LTC) upward trend.

Pushd (PUSHD): Disrupting the Norms By Establishing A Web3 Marketplace

Pushd is a newcomer in the crypto space, rising as a decentralized, peer-to-peer platform offering a user-friendly, decentralized experience for web3 marketplaces. It eliminates intermediaries and allows users to list products or auction items seamlessly while setting prices. The user-friendly process, free from extensive KYC documentation, will add simplicity and privacy.

Pushd will support various cryptocurrencies and offer a swap service for quick currency exchange. It will address challenges faced by traditional platforms by ensuring instant fund release upon transaction completion. In a global e-commerce sector projected to be valued at over 5 trillion USD, Pushd’s potential for growth will be evident.

Investors participating in the presale will contribute to the project’s success and gain governance over the platform, empowering them to propose changes for an enhanced user experience. Pushd will distinguish itself with lower fees, instant deposits and withdrawals, and a commitment to security through blockchain technology.

Token holders will actively participate in decision-making processes, fostering community-driven involvement. The enticing proposition of a revenue share of platform earnings will emphasize the prospect of Pushd overtaking Toncoin (TON) and Litecoin (LTC).

For more information about the Pushd (PUSHD) Presale, visit their website.

A New Era in Global Taxation Begins as the Implementation of the Minimum Global Tax Commences

By
Samuel Nwite
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2

In a pivotal moment for global economics, the curtains have risen on a new era in international tax policy. This Monday marked the commencement of a groundbreaking reform that heralds the introduction of a minimum global tax for multinational corporations, a watershed development spearheaded by a coalition of 140 countries.

The primary goal? To address long-standing loopholes and pave the way for an estimated $220 billion in additional annual revenue.

After nearly three years of negotiations, major economies have embarked on the implementation of an effective corporate tax rate of at least 15%, marking a substantial shift in the tax landscape. This interconnected system empowers participating countries to impose “top-up” taxes should a multinational corporation’s profits fall below this threshold in any jurisdiction.

The Organization for Economic Cooperation and Development (OECD), the driving force behind these reforms, foresees a potential 9% surge in global tax revenue, translating to a staggering $220 billion annually.

Jason Ward, principal analyst at the Centre for International Corporate Tax Accountability and Research, lauded the reform, asserting that it will significantly curtail the utilization of tax havens by companies and countries, putting a halt to what was once a concerning “race to the bottom.”

“It will reduce incentives from companies to use tax havens and incentives for countries to be tax havens,” he said, adding that it puts “a serious brake on what was a race to the bottom”.

The initial wave of jurisdictions adopting this global minimum tax includes the European Union, the United Kingdom, Norway, Australia, South Korea, Japan, and Canada. These rules will apply to multinational companies with an annual turnover exceeding €750 million. Notably, countries often considered tax havens, such as Ireland, Luxembourg, the Netherlands, Switzerland, and Barbados with its former corporate tax rate of 5.5%, have joined this transformative initiative.

However, two global economic powerhouses, the United States and China, have not yet introduced legislation to enforce this reform, despite initially supporting the agreement back in 2021. Nevertheless, the wide-scale impact of these reforms is anticipated, as the interconnected nature of the system incentivizes further adoption by other nations.

The OECD-led agreement encompasses two key pillars: the first aims to ensure multinational corporations pay taxes where they conduct business, while the second establishes a universal minimum corporate tax rate. Pascal Saint-Amans, the OECD’s former tax chief, emphasized that the successful implementation of the second pillar necessitates a critical mass of countries, creating a scenario where avoiding compliance becomes increasingly challenging.

“Pillar two only needs a critical mass of countries to implement it,” he said. “Nobody has found a silver bullet where you can avoid it.”

Anticipated outcomes of these reforms include a potential redistribution of revenue to countries hosting substantial low-taxed corporate profits, such as Ireland, a consequence not initially envisaged by proponents.

Manal Corwin, head of tax at the OECD, noted that the early stages might offer a mere snapshot of the reforms’ impact, with the future trajectory likely channeling more taxes to where economic activities genuinely transpire.

“This will shift over time,” she told The Financial Times. “The future footprint is the value of what’s being delivered.” Corwin added that through the elimination of distortions in the system, she ultimately expected more taxes to be paid “where economic activities take place”.

Furthermore, the introduction of these reforms is poised to intensify tax competition among jurisdictions, potentially prompting the creation of credits, grants, or subsidies. The OECD confirmed last year that the global minimum tax calculations would offer preferential treatment for specific tax credits, including those within the US’s Inflation Reduction Act, amplifying the potential for altered economic landscapes across the globe.

However, this seismic shift in global tax policy hasn’t gone unchallenged. Recent actions by Nigeria, Ghana, South Africa, and other nations within the United Nations signal a desire to assert a more substantial role in international tax matters. Growing disillusionment with the OECD-led negotiations has prompted these nations to advocate for a greater UN presence in creating a convention on international tax cooperation.

The evolving global tax terrain, where the balance of power and economic influence undergoes a tectonic shift, is expected to wield rippling effects through economies worldwide, ushering in a new paradigm in global fiscal policies.

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