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DSS Alleges Plot to Install An Interim Government in Nigeria, Warns of Consequences

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The Department of State Services (DSS) said it has uncovered a plot by some political actors to forestall the inauguration of Bola Ahmed Tinubu, who the Independent National Electoral Commission (INEC) declared the winner of Nigeria’s 2023 presidential election.

In a statement signed by its spokesperson, Peter Afunanya on Wednesday, the secret service said it “considers the plot, being pursued by these entrenched interests, as not only an aberration but a mischievous way to set aside the constitution and undermine civil rule as well as plunge the country into an avoidable crisis.”

The statement follows a petition by the spokesperson for the All Progressive Congress (APC) presidential campaign, Festus Keyamo, to the DSS, accusing the candidates of the Labour Party, Peter Obi and the Peoples Democratic Party, Atiku Abubakar, of heating the polity to cause anarchy.

The DSS had on Saturday, issued a statement, warning politicians to desist from peddling “hate speech” and false narratives capable of stirring chaos that could scuttle the inauguration of the president-elect.

Both Atiku and Obi have approached the court, challenging the outcome of the presidential election, which they say does not represent the wish of the people. Atiku also led a protest to INEC headquarters, to register the displeasure of Nigerians over the conduct of the election.

The DSS is believed to have been prompted by these developments to issue the statements. The service said “the illegality” of the recent events “is totally unacceptable in a democracy and to the peace-loving Nigerians.”

The DSS, which describes the conduct of the election as “peaceful”, said “the planners, in their many meetings, have weighed various options, which include, among others, to sponsor endless violent mass protests in major cities to warrant a declaration of State of Emergency.” It added that they’re also planning to “obtain frivolous court injunctions to forestall the inauguration of new executive administrations and legislative houses at the Federal and State levels.”

The service said it will collaborate with the Presidential Transition Council and sister security and law enforcement agencies to ensure seamless inaugurations come 29th May, 2023, warning stakeholders, judicial authorities, media and the Civil Society, to “avoid being used as instruments to subvert peace and stability of the nation.”

Against the backdrop of these statements, Nigerians have expressed concern that the DSS, which is supposed to be apolitical, has become blatantly partisan. Many said that the Nigeria’s secret service is now working as an arm of the ruling APC.

Read the full statement below:

The Department of State Services (DSS) has identified some key players in the plot for an Interim Government in Nigeria. The Service considers the plot, being pursued by these entrenched interests, as not only an aberration but a mischievous way to set aside the constitution and undermine civil rule as well as plunge the country into an avoidable crisis. The illegality is totally unacceptable in a democracy and to the peace-loving Nigerians.

This is even more so that the machination is taking place after the peaceful conduct of the elections in most parts of the country. The planners, in their many meetings, have weighed various options, which include, among others, to sponsor endless violent mass protests in major cities to warrant a declaration of State of Emergency. Another is to obtain frivolous court injunctions to forestall the inauguration of new executive administrations and legislative houses at the Federal and State levels.

The DSS supports the President and Commander-in-Chief in his avowed commitment to a hitch-free handover and will assiduously work in this direction. It also supports the Presidential Transition Council and such other related bodies in the States.

It will collaborate with them and sister security and law enforcement agencies to ensure seamless inaugurations come 29th May, 2023.

Consequently, the Service strongly warns those organizing to thwart democracy in the country to retract from their devious schemes and orchestrations.

Stakeholders, notably judicial authorities, media and the Civil Society, are enjoined to be watchful and cautious to avoid being used as instruments to subvert peace and stability of the nation.

While its monitoring continues, the DSS will not hesitate to take decisive and necessary legal steps against these misguided elements to frustrate their obnoxious intentions.

Peter Afunanya PhD, fsi

Public Relations Officer

Department of State Services

National Headquarters

Abuja

29th March, 2023

Alibaba Assures Investors That Restructuring Won’t Affect Company’s Growth

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Chinese giant E-commerce company Alibaba has assured investors that its recent restructuring which saw the company split into six units won’t affect the company’s growth, rather it will make the business more agile.

In a message to investors, Alibaba CEO Daniel Zhang said that he strongly believes that the company’s overhaul will allow it to become more nimble, which will enhance the business decision-making process and help it respond faster to market changes.

In his words,

We’ve been stressing the idea of agility and being a more nimble and agile organization for several years now, the split will see Alibaba’s board continue to have control over its entities.

“Alibaba Group will be in the nature of a holding company that is the controlling shareholder of the business group companies. As the controlling shareholder, the Alibaba board will continue to have control over the boards of these new companies.”

Shares of Alibaba listed in Hong Kong rose nearly 3% at the market open on Thursday roughly an hour after the CEO’s assurance to investors. Also, the stock on Wednesday closed by over 12% and saw its best day since Nov. 11, 2022.

Meanwhile, a senior lecturer in Chinese and East Asian business at King’s College London Xin Sun warned that while there are promising signs for investors, there is also a reason to be cautious. He describes Alibaba’s overhaul as a move to break up the company’s business empire and to reduce its huge influence that could potentially pose a threat to the Chinese Communist Party’s rule.

He said, “After restructuring, the organizational structure of Alibaba will become more decentralized, and the control over its assets, data, and resources will be less concentrated. The Party could then impose stronger political control over each of the new entity more easily”.

It would be recalled that Alibaba on Tuesday, March 28, Alibaba split its company into six business groups each, (Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics, Global Digital Commerce Group, and Digital Media and Entertainment Group) with the ability to raise outside funding and go public.

The company’s recent overhaul is coming following Beijing’s regulatory crackdown on the Chinese tech sector which began in late 2020, wiping off more than a combined $1 trillion from the country’s biggest companies. Over the past two years, China’s government has often fought against the disorderly expansion of capital of tech firms that have grown into large conglomerates which they believe stifles market competitiveness.

In 2021, Chinese regulators hit Alibaba with a 18.23 billion yuan ($2.8 billion) fine in its anti-monopoly investigation of the tech giant, saying it abused its market dominance. Regulators opened a probe into the company’s monopolistic practices in December. The investigation’s main focus was a practice that forces merchants to choose one of two platforms, rather than being able to work with both.

This saw Alibaba’s founder come under fire for saying that China’s financial system was “the legacy of the Industrial Age.” Therefore, part of Alibaba’s announcement noted that its recent groups of businesses could raise outside capital and even go public, seemingly heading in a contrary direction to Beijing’s concerns.

Alibaba remains optimistic to please investors with its major business restructuring, heralding the biggest shake-up of China’s best-known e-commerce company since Jack Ma founded it 24 years ago.

Fuel to Sell At N360, N400 Per Liter After Removal of Subsidy in June – PENGASSAN

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Fuel prices will rise significantly after the removal of subsidy in June, selling between N360 and N400 per liter, according to the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

This was disclosed to journalists by PENGASSAN president Festus Osifo, during the association’s National Executive Council meeting (NEC) held in Abuja on Tuesday.

Osifo made the disclosure as concern mounts over what the cost of petroleum products will be in coming months, following a claim by petroleum marketers and stakeholders in the downstream sector, that fuel will sell as much as N750 per liter when the subsidy is removed.

In August 2022, the Minister of Finance, Budget and National Planning, Zainab Ahmed, announced that the subsidy removal will be implemented by the first half of 2023. The announcement has triggered speculation that fuel will be sold at international market rate, making it unaffordable for the majority of the Nigerian people.

Allaying the concern, Osifo said that fuel prices will be determined by the sole importer of Premium Motor Spirit (PMS), the Nigerian National Petroleum Company Limited (NNPCL), using the official exchange rate.

“Today, the sole importer of PMS into Nigeria is the NNPC. The NNPC is using an exchange rate of the CBN which gives about N400 to N450 depending on the day and depending on the window that you are looking at. So, if you compute that into the model today, PMS should be selling for a region of about N360 to N400,” he said.

But NNPCL, which was inaugurated as a limited liability entity in July last, lamented in February that it has been running at loss due to subsidy payments, which it said gulps more than N400 billion monthly. The NNPCL Group Chief Executive, Mele Kyari, said the payments, which cover 66 million liters per day at the cost of N202 per liter, are being made by NNPCL even though there is provision for that in the Budget.

The CEO said the payments are impacting the company’s financial flow, scuttling its objective, which is to make profit as a private entity.

The Nigerian government has been looking for ways to break away from the shackles of the fuel subsidy, which gulps significant percent of the country’s budget each year. Ahmed said in January that the fuel subsidy regime plays a very significant contributory role in revenue loss that has forced Nigeria to borrow. She had described Nigeria’s situation of borrowing to pay subsidy as “double tragedy.”

Both the World Bank and the International Monetary Fund (IMF) have repeatedly advised Nigeria to remove the fuel subsidy and channel the fund to the development of the nation’s economy, giving needed attention to education and health sectors.

However, lack of political will – buoyed by the government’s failure to address the potential economic hardship that will result from the subsidy removal, has held the federal government back.

With the Nigerian Labour Congress (NLC) sounding warning of nationwide industrial action if the subsidy is removed without adequate provisions to cushion the resulting effects, the Muhammadu Buhari’s administration had chosen to bequeath the responsibility to the incoming government.

The federal government is understood to be counting on Dangote Refinery, which was expected to begin operation mid-last year, to boost the quantity of locally refined PMS, significantly reducing Nigeria’s dependence on importation and saving the country its much needed forex.

Nigeria’s lack of functioning refineries sits at the center of its petroleum crisis – from fuel subsidy payment to fuel scarcity, which leaves the Nigerian public at the mercy of petroleum marketers every given time. Although the federal government has been working to rehabilitate dormant Warri, Port Harcourt and Kaduna refineries, it doesn’t look like they’re going to be ready any time soon.

Osifo said that functional local refineries will make fuel affordable and also create jobs for Nigerians, urging the government to increase the pace of the rehabilitation exercise.

“While maintaining our support for the full deregulation of the sector and the significant milestone achieved in this regard, we counsel that efforts be made to increase the pace of the current rehabilitation exercise of refineries and get them back on track in due time,” he said.

He added that the incoming administration must make palliatives available to Nigerians to mitigate the impact of the removal of petroleum subsidy.

Ahmed said last year that the federal government plans to introduce a transport subsidy to ameliorate the economic impact of the fuel subsidy removal on the Nigerian people.

Here Is What Makes Cosmos and Big Eyes Coin Fantastic Options in the Bear Market

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The crypto market has not been favorable for crypto users and investors for the past couple of months. When the bear market descended, no one could have imagined it would wreak this much havoc on the coins. However, just about all the coins in the market have been severely affected by the bear market. This has resulted in dilapidating losses for several investors and traders. The adverse market has even pushed a couple of investors to hang their boots and cut their losses with the crypto market. Since the start of the summer, the crypto market has followed the path of the other global financial markets and crashed spectacularly. The crash affected the trading and investment sector of the market.

Without their go-to method, the investors who are choosing to stick with the market have to figure out alternative ways to survive the bear market. As a result, several crypto enthusiasts are now focused on long-term investment options. By focusing on long-term investment options, investors have shifted their focus towards coins that have what it takes to produce massive growth potential in the long run. Seeking out such coins means understanding the features and characteristics of each coin. Two coins with long-term potential to deliver significant gains for investors are Cosmos (ATOM) and Big Eyes Coin (BIG).

Cosmos (ATOM): Answers the Tough Questions

Cosmos (ATOM) is an outstanding blockchain within the crypto market that provides workable solutions to the issues that plague the market. The platform is an interesting coin that has figured out the answers to the crypto market’s challenging issues like energy efficiency, fragmentation, speed, performance, and scalability. By providing the answers to these difficult questions, Cosmos (ATOM) is lauded as one of the top crypto assets in the market. The crypto asset provides the solutions by offering an ecosystem of connected blockchains that makes it possible for interoperability to occur. The crypto asset also tries to ensure that blockchain technology is now less complicated for blockchain developers within the industry.

The crypto asset has a native token called ATOM. The native token helps users take care of governance and acts as a utility token. That way, ATOM can be used to incentivize the network and facilitate numerous crypto operations like network governance, user interaction, and payment fees. The crypto asset is designed to make it easier for distributed ledgers to communicate without the need for a centralized server. The coin was released in 2006, and since then, it has grown to become an Internet of Blockchains. The crypto asset is designed by its creators to be an open-source platform of interoperable blockchains that can smooth the progress of transactions between them.

Big Eyes Coin (BIG): Improving the Decentralized Finance (DeFi) Ecosystem

Big Eyes Coin (BIG) is a unique crypto asset dedicated to improving its community’s financial status. Big Eyes Coin (BIG) has studied the cryptocurrency landscape as a new crypto asset and picked out the essential features that make the market tick. One of such vital facets is the Decentralized Finance (DeFi) ecosystem. To that end, Big Eyes Coin (BIG) has created a marketing strategy that will help improve the DeFi ecosystem. This long-term growth strategy will help to create a thriving community. The Big Eyes Coin (BIG) community is an essential part of the meme coin structure. To that end, the crypto asset is dedicated to improving its community by providing rewards in salient areas. The meme coin might be new in the crypto space, but it has already gained the crypto community’s attention. As its popularity grows day by day, the crypto asset is set on the path of success and growth.

 

Checkout Big Eyes Coin below:

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

The Rise of Mobile Betting: ONWIN Offers Convenience for Experienced Gamblers

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Mobile betting has become increasingly popular in recent years, with many experienced gamblers opting to use their mobile devices to access their favorite sportsbooks and online casinos. This trend can be attributed to the convenience that mobile betting offers, making gaming updates and opportunities to win just one click away.

With mobile betting, players can place bets in real time while a game is being played. Experienced game players can place their bets or play casino games from anywhere, at any time. This is especially useful for those who have busy schedules or who travel frequently, as they can still enjoy their favorite gambling activities without having to take out time to sit in front of a desktop computer for hours. Mobile betting also offers a greater level of privacy, as you can use your device in a location of your choosing without drawing attention to yourself.

Many online casinos and sportsbooks have developed mobile apps that are specifically designed to function at rapid speeds on mobile devices, offering an optimized user experience that is tailored to the smaller screen sizes of smartphones and tablets. These apps can also use advanced features such as touch-screen controls and gesture-based navigation, providing a more interactive and enjoyable gambling experience.

When it comes to mobile betting, ONWIN Casino is one of the best options available. ONWIN offers a seamless mobile betting experience that is optimized for mobile devices, allowing experienced gamblers to easily access their accounts and place bets or play casino games on the go. In addition, ONWIN offers a range of bonuses and promotions that can be accessed through their mobile app, making it an attractive option for those looking to maximize their winnings.

A Closer Look at ONWIN Bonuses

Let’s take a closer look at the bonuses offered by ONWIN. First, the casino offers a welcome bonus of up to 5 BTC, ETH, or USDT for new players who sign up and make their first deposit. This bonus is split across the first four deposits, with a maximum bonus of 1.25 BTC, ETH, or USDT per deposit.

ONWIN also offers a range of deposit bonuses that are designed to reward players for their continued patronage. These bonuses range from 25% to 100% of the deposit amount, depending on the cryptocurrency being deposited. For example, players who deposit Bitcoin can receive a 25% bonus, while those who deposit Ethereum can receive a 50% bonus. The highest bonus, 100%, is offered to players who deposit USDT.

In addition to these bonuses, ONWIN’s promotions and giveaways are available through their mobile app. These include daily giveaways, free spins, and other rewards that can help players maximize their winnings.

When it comes to depositing cryptocurrencies, ONWIN accepts a range of options, including Bitcoin, Ethereum, Litecoin, and USDT. This makes it easy for experienced gamblers to deposit and withdraw funds, regardless of their preferred cryptocurrency.

Conclusion

In conclusion, the rise of mobile betting has made it more convenient than ever for experienced gamblers to enjoy their favorite sportsbooks and online casinos. With its optimized mobile app and range of bonuses and promotions, ONWIN Crypto Casino is a great option for those looking to take advantage of the benefits of mobile betting. So why wait? Download the ONWIN mobile app today and start experiencing the convenience and excitement of mobile betting for yourself!

 

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