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President Tinubu’s Democracy Day Address

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President Tinubu addressed Nigerians today in celebration of the nation’s 2023 democracy day and commemoration of late Chief Monshood Kashimawo Olawale Abiola who is nationally recognised as a hero of democracy. Abiola became a symbol and martyr of democracy in Nigeria after the then Babangida-led military junta annulled the June 12, 1993 Presidential election which Abiola was reported to have won with a wide margin. It was in the course of the struggle to regain his stolen mandate that Abiola died.

President Tinubu speech which detailed some key circumstances of the June 12 election and their impact on the Nigeria’s evolving democracy has been lauded by many Nigerians as one of the greatest speeches to have been made by a Nigerian head of state.

The full speech is here below:

  1. Fellow Nigerians,

  2. It is exactly three decades today that Nigerians went to the polls to exercise their inalienable right to elect a President of their choice to lead the transition from military dictatorship to a representative government of the people.

  3. The abortion, by military fiat, of the decisive victory of Chief Moshood Kashimawo Olawale Abiola of the defunct Social Democratic Party (SDP) in the June 12, 1993, presidential election, up to that time, the fairest and freest election in the country’s political evolution, turned out, ironically, to be the seed that germinated into the prolonged struggle that gave birth to the democracy we currently enjoy since 1999.

  4. In rising to strongly oppose the arbitrary annulment of the will of the majority of Nigerians as expressed in that historic election, the substantial number of our people who participated in the struggle to de-annul the election signified their fierce commitment to enthroning democracy as a form of government that best ennobles the liberty, the dignity of the individual and the integrity as well as the stability of the polity. The fierce opposition to the annulment of the June 12, 1993 presidential election and the unrelenting pro-democracy onslaught it unleashed was the equivalent of the battle against colonial rule by our founding fathers that resulted in the gaining of Nigeria’s independence in 1960.

  5. Just like the anti-colonial movement, the pro-June 12 vanguard demonstrated, once again, the enduring validity of the 19th century historian, Arnold Toynbee’s eternal postulation, that civilization and societies experience progress as they are forced to respond to challenges posed by the environment. The unjust annulment of a widely acknowledged free and fair election was a challenge that elicited resistance by a resurgent civil society, leading ultimately to the attainment of our ‘second independence’ as exemplified by the return of democratic governance in 1999.

  6. Fellow compatriots, we celebrate a day that has remained a watershed in our nation’s history, not just today, but for every June 12, for the endless future that our beloved country shall exist and wax stronger and stronger, generations of Nigerians will always remind themselves that the democracy that is steadily growing to become the defining essence of our polity was not gifted to us on a silver platter.

  7. We can easily recall the sacrifice and martyrdom of Chief MKO Abiola, the custodian of the sacred mandate that was so cruelly annulled. He sacrificed his life in unyielding, patriotic defense of the ideals of democracy as symbolized in his choice, by his fellow countrymen and women, as their duly-elected President. There was an easier choice for him. It was to forgo the justice of his cause and opt for the path of ease and capitulation in the face of the tyranny of power. To his eternal credit and immortal glory, Abiola said no. He demonstrated the time-tested eternal truth that there are certain ideals and principles that are far more valuable than life itself.

  8. Everyday, on this day, down the ages we will recall the several other heroes of democracy such as Kudirat Abiola, wife of Chief Abiola, who was brutally murdered while in the trenches fighting on the side of the people. We remember Pa Alfred Rewane, one of the heroes of our independence struggle and Major General Shehu Musa Yar’Adua (rtd) who were silenced by the military junta while in pursuit of democracy. They gave their yesterday for the liberty that is ours today.

  9. The point is that we must never take this democracy for granted. We must forever jealously guard and protect it like a precious jewel. For, a people can never truly appreciate the freedoms and rights democracy guarantees them until they lose it

  10. We have traversed the dark, thorny path of dictatorship before and those who experienced it can readily testify to the unbridgeable gap between the dignity of freedom and the humiliation and degradation of tyranny. True, rancorous debates, interminable wrangling, ceaseless quarrels, bitter electoral contestations may be perceived by some as unattractive features of democracy. But they also testify to its merit and value.

  11. This year, we held the seventh in the cycle of elections that have become sacred rituals of our democratic practice in this dispensation since 1999.

  12. That the polls were intensely contested is in itself positive evidence that democracy is well and alive in our land. It is only natural that even as those who won and experienced victory in the various elections are elated and fulfilled, those who lost are disenchanted and disappointed. But the beauty of democracy is that those who win today can lose tomorrow and those who lose today will have an opportunity to compete and win in the next round of elections.

  13. Those who cannot endure and accept the pain of defeat in elections do not deserve the joy of victory when it is their turn to triumph. Above all, those who disagree with the outcome of the elections are taking full advantage of the constitutional provisions to seek redress in court and that is one of the reasons why democracy is still the best form of government invented by man.

  14. For Chief MKO Abiola, the symbol of this day, in whose memory June 12 became a national holiday, democracy is eternal.

  15. It is about rule of law and vibrant judiciary that can be trusted to deliver justice and strengthen institutions. It has become imperative to state here that the unnecessary illegal orders used to truncate or abridge democracy will no longer be tolerated.

  16. The recent harmonization of the retirement age for judicial officers is meant to strengthen the rule of law, which is a critical pillar of democracy. The reform has just started.

  17. The democracy that will yield right dividends to the people who are the shareholders means more than just freedom of choice and right to get people into elective offices. It means social and economic justice for our people. To the winner of June 12, democracy offers the best chance to fight and eliminate poverty. Thirty years ago, he christened his campaign manifesto, ‘Farewell to Poverty’ because he was convinced that there is nothing divine about poverty. It is a man-made problem that can be eliminated with clearly thought out social and economic policies.

  18. It is for this reason that, in my inauguration address on May 29, I gave effect to the decision taken by my predecessor-in-office to remove the fuel subsidy albatross and free up for collective use the much-needed resources, which had hitherto been pocketed by a few rich. I admit that the decision will impose extra burden on the masses of our people. I feel your pain. This is one decision we must bear to save our country from going under and take our resources away from the stranglehold of a few unpatriotic elements.

  19. Painfully, I have asked you, my compatriots, to sacrifice a little more for the survival of our country. For your trust and belief in us, I assure you that your sacrifice shall not be in vain. The government I lead will repay you through massive investment in transportation infrastructure, education, regular power supply, healthcare and other public utilities that will improve the quality of lives.

  20. The democracy MKO Abiola died for is one that promotes the welfare of the people over personal interests of the ruling class and one where the governed can find personal fulfillment and happiness. That is the hope MKO Abiola ignited throughout our country in 1993.

  21. On this year’s Democracy Day, I enjoin us all to rededicate ourselves to strengthening this form of government of free peoples that has been our guiding light these past 24 years. In particular, those of us who have been privileged to be elected into public offices at various levels in both the executive and legislative arms of government must recommit ourselves to offering selfless service to the people, and delivering concrete democracy dividends in accordance with our electoral promises.

  22. On my part and that of my administration, I pledge anew our commitment to diligently fulfilling every component of our electoral pact with the people – the ‘Renewed Hope’ agenda.

  23. We shall be faithful to truth. Faithful to equity. And faithful to justice. We shall exercise our authority and mandate to govern with fairness, respect for the rule of law, and commitment to always uphold the dignity of all our people.

  24. On this note, I wish us all a happy Democracy Day celebration and pray that the light of liberty shall never be extinguished in our land.

  25. Thank you all and may God continue to bless the Federal Republic of Nigeria.

Render Token (RNDR), Uwerx (WERX), and RefundCoin (RFD) Form an Unbeatable Trio for Crypto Investors  

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2021-2022 has generally been a rollercoaster for cryptos, with the price of even blue-chip cryptos nosediving and making new lows. However, some crypto tokens like the Render Token (RNDR) are still making waves and doing numbers for investors.

Another crypto token, RefundCoin (RFD), launched after the recent meme coin boom, is also making good gains for its investors. Uwerx is the new kid in the block and getting its fair share of attention.

If the price performance of any of the other duo is anything to go by, it will be a worthwhile investment to stack up bags of the WERX tokens in anticipation of a significant upward price movement.

Render Token (RNDR): Distributed GPU Rending On The Blockchain

The Render token (RNDR) Network aims to link users searching for render jobs with others with people with idle and accessible GPUs to execute the renders. To receive and finish rendering jobs using OctaneRender, owners would connect their GPUs to the Render Network.

Users would transfer Render token (RNDR) to the person causing the work, and OTOY would get a small cut of Render token (RNDR) in exchange for handling the transaction and managing the Render Network. The Render token, RNDR, helps to facilitate GPU trading on the Render network.

Probably due to its huge utility, the Render token (RNDR) has maintained its uptrend for more than a year and currently trading at $2.45 per token with a 24-hour trading volume of $129,845,713.

According to analysts, the Render Token (RNDR) is expected to continue to expand mostly because of the platform’s exposure to global technology and an ever-growing community of believers.

Refund Coin (RFD): An Memecoin Gaining Investors’ Attention

Refund Coin (RFD) was recently launched by Blurr.Eth – an OG Whale and a long-term crypto believer.

The project’s purpose remains open to speculation, and the team has declared that the project is intended for entertainment and experimental purposes only.

Experts believe that the Refund Coin (RFD) is a good catch because of its sheer community drive, which has seen the crypto up by 56% just one day after its launch on May 21st, 2023.

Uwerx (WERX): The Future of Freelancing 

Uwerx token is for long-term holders who need a token that will continuously be in use. This is because Uwerx is proffering a solution to the age-long transparency problem in the freelancing sector.

Uwerx is set to combine blockchain with freelancing, and it doesn’t just stop there. The Uwerx protocol has made headlines for various significant milestones since the start of its presale, which is still ongoing and at the 5th stage.

Some of these milestones include;

  • The unveiling of the Uwerx vault, where users can store their locked WERX token in the vault for various lengths of time and get rewarded for it- a concept similar to staking.
  • SolidProof and InterFi Network have audited Uwerx.
  • The Uwerx platform has reached 6,200 sign-ups, with about 1,600 members on both Twitter and Telegram.
  • A test airdrop taking place after the presale on July 31st.
  • Uwerx has been listed on CoinSniper and will be listed on Uniswap on the 1st of August.
  • The team behind the project has announced their plan to renounce the contracts before launching the project on a centralized exchange.
  • The web pages are currently being built and set to go live in the coming weeks. Users will also be able to test out the platform’s features after this.

After successfully running four presale stages, Uwerx is currently on its stage 5 presale round at $0.041per token with a 15% bonus on every purchase. This price is still a cheap sell compared to the values the project is bringing on board. Not many investors would want to miss out on such discount prices.

 

Join the Uwerx presale today and take advantage of the 15% presale bonus:

Presale: invest.uwerx.network

Telegram: https://t.me/uwerx_network

Twitter: https://twitter.com/uwerx_network

Website: https://www.uwerx.network/ 

Senator Bulkachuwa is Nigeria’s whistleblower of the month

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Unbelievable that a Senator whose wife was the president of the court of appeal could brag how he influenced her decisions. He embarrassed the senate president by revealing the open truth about Nigeria’s judiciary.  We must give Senator Bulkachuwa a national award as a whistleblower of the month. Hope retired Justice Zainab Bulkachuwa will give a press release on how she was influenced! What a nation.

 

Solana is not a Security Asset – Solana Foundation

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The Solana Foundation is a non-profit organization that supports the development and adoption of the Solana blockchain network. The foundation claims that its native token, SOL, is not a security, but a utility token that enables users to participate in the network’s consensus mechanism, pay transaction fees, and access decentralized applications. However, the U.S. Securities and Exchange Commission (SEC) has recently classified SOL as an unregistered security in its lawsuits against two major crypto exchanges, Binance and Coinbase.

The SEC argues that SOL meets the criteria of an investment contract, which is a type of security that involves an expectation of profits derived from the efforts of others. The foundation disagrees with this characterization and says it welcomes the engagement of policymakers to achieve legal clarity on these issues. The foundation also says it is in communication with the SEC and legal experts to address their concerns.

The classification of SOL as a security has significant implications for the token’s regulation and compliance requirements, as well as its availability and liquidity on various platforms. The foundation’s native token, SOL, is not a security asset, but a utility token that serves various functions within the network. SOL holders can use the token to pay for transaction fees, participate in network governance, and stake their tokens to help secure the network and earn rewards.

SOL is not an investment contract that promises profits from the efforts of others, but a means of accessing and contributing to the Solana ecosystem. The foundation disagrees with the U.S. Securities and Exchange Commission’s (SEC) characterization of SOL as a security in its recent lawsuits against crypto exchanges Binance and Coinbase. The foundation believes that SOL meets the criteria of a utility token under the federal securities laws and welcomes the engagement of policymakers to achieve legal clarity on these issues.

Solana is an open-source, decentralized software project that relies on community-based user and developer engagement to enhance and evolve the platform. SOL is the native token of the Solana blockchain, and it has several functions that make it essential for the network’s operation and security.

First, SOL is used to stake on the network, which means that users can lock up their tokens in order to validate transactions and earn rewards. Staking is a crucial mechanism for achieving consensus on the Solana blockchain, which uses a novel protocol called Proof of History (PoH). PoH allows the network to process thousands of transactions per second with low latency and high security. By staking SOL, users contribute to the network’s performance and security, and they also have a say in its governance.

Second, SOL is used to pay transaction fees on the network, which are very low compared to other blockchains. Transaction fees are necessary to prevent spam and malicious attacks on the network, and they also incentivize validators to process transactions efficiently. By paying transaction fees in SOL, users support the network’s sustainability and scalability.

Third, SOL is used to participate in governance of the network, which means that users can vote on proposals that affect the development and direction of the platform. Governance is a key feature of decentralized systems, as it allows users to have a voice and a stake in the future of the project. By participating in governance with SOL, users exercise their rights and responsibilities as members of the Solana community. As you can see, SOL is not a security asset, but rather a utility token that has multiple functions and benefits for the Solana network and its users.

Nasdaq Splashes $10.5 Billion to Acquire Software Firm Adenza

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NASDAQ

Financial services corporation Nasdaq has splashed the whopping sum of $10.5 billion to acquire software firm Adenza, to deepen its push to become a more focused tech company.

The report reveals that the purchase consists of $5.75 billion in cash and 85.6 million shares of Nasdaq common stock, which is expected to aid the growth of the stock exchange company, as it diversifies its portfolio.

Speaking on the acquisition of Adenza, Nasdaq CEO Adena Friedman said,

“This is an exceptional opportunity to acquire a leading software company that enhances Nasdaq’s position at the heart of the global financial system. The acquisition of Adenza brings together two world-class franchises steeped in market infrastructure, regulatory, and risk management expertise at a time when financial institutions are navigating some of the most complex market dynamics in history.

“From fast-evolving global regulations to rapidly increasing pressures to modernize infrastructure, our clients are seeking trusted partners equipped to support them in this challenging environment.”

Adenza Group, Inc., formerly known as Calypso Technology, is a software application provider that specializes in Capital Markets, Investment Management, Central Banking, Risk Management, Clearing, Collateral, and Treasury & Liquidity. Their integrated suite of trading and risk applications is used by banks and other financial companies.

With its headquarters in London and New York, Adenza has more than 60,000 users across the world’s largest financial institutions spanning global and regional banks, broker-dealers, insurers, asset managers, pension funds, hedge funds, central banks, stock exchanges and clearing houses, securities services providers and corporates. It has a strong client base, with 98% gross retention, 115% net retention, and a mix of approximately 80% recurring revenue.

Nasdaq stated that the acquisition of Adenza complements its marketplace technology and anti-financial crime solutions, and enhances its offerings across a broader spectrum of regulatory technology, compliance, and risk management solutions.

Reports disclose that Nasdaq CEO Friedman has been pushing the company into the tech space for some time now, expanding its role as a marketplace for trading that is reliant largely on trading volumes to thrive. The company has increasingly looked to move its business away from market-sensitive exchange operations and has chosen to lean into the financial software offerings for institutional investors.

With Adenza under its wing, Nasdaq, which operates three stock exchanges in the U.S. and seven in Europe, said it will be better positioned to provide comprehensive support to financial institutions across regulatory technology, compliance, and risk management. Nasdaq further revealed that it expects to close the deal within the next nine months.