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Nigerian Stock Market Loses Months-Long Streak on Tinubu’s Win

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The equity market on the Nigerian Exchange Ltd. (NGX) has reacted to the outcome of Nigeria’s presidential election, ending its five-day gaining streak.

Peoples Gazette reports that the NGX performance indices shed 0.53 per cent due to sell-offs in medium and large-capitalized stocks.

But Bloomberg had reported that five of Nigeria’s dollar bonds ranked among the 10 best performers on Monday in a Bloomberg index of 71 emerging and frontier nations, as investors bet on the candidate of the All Progressive Congress (APC) to win the presidential election.

However, it’s a different response from the Nigerian stock market, which has maintained months of consecutive gains before the election. PG’s report below shows how the market performed.

The market capitalization dropped by N162 billion or 0.53 per cent, to close at N30.238 trillion as against the N30.4 trillion recorded on Tuesday.

Also, the All-Share Index (ASI) declined by 297.65 points to close at 55,508.61 compared with 55,806.26 posted in the previous session.

The downturn was due to selloffs in, mainly in telco heavyweight, Airtel Africa and others. As a result, the year-to-date return fell to 8.31 per cent.

“Positive sentiments remain in the market, as seen in the number of gainers versus losers. We expect to see profit taking in some selected stocks that have rallied in recent sessions, while market breadth remain in the green,” said analysts at Vetiva Securities Ltd.

Also, market breadth closed positive with 24 stocks on the gainer’s table, while 10 on the losers’. Veritas Kapital Assurance led the gainers’ chart in percentage terms by 10 per cent to close at 22k, per share. Ardova followed with 9.76 per cent to close at N18.55, while Wema Bank grew by 8.75 per cent to close at N4.35, per share.

The Initiative rose  8.33 percent to close at 52k, while Geregu Powers appreciated by 8.20 per cent to close at N298.10, per share. On the other hand, John Holt led the losers’ chart in percentage terms by 6.66 per cent to close at N1.59, per share.

Ecobank Transnational Incorporated (ETI) followed with 7.69 per cent to close at N12, while Airtel Africa dropped by 5.25 to close at N1,535, per share.

United Capital shed 3.91 per cent to close at 14.75, while FTN Cocoa Processors lost 3.45 to close at 28k, per share. The trade turnover increased by 36.73 per cent to 228.49 million units, valued at N4.44 billion and exchanged in 3,6 deals.   Transactions in the shares of Capital Hotel topped the activity chart with 333.24 million shares valued at N2.33 billion.

Transcorp followed with 44.89 million shares worth N67 million, while  Guaranty Trust Holding Company (GTCO) traded 46.63 million shares valued at N126 billion.

Oando traded 19.98 million shares valued at N102.33 million, while Access Holdings transacted 19.42 million shares worth N186.21 million.

Is “Knowledge Power” or “Power is Power”: What “Nigerian Youth” Can Learn from the Election

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A Nigerian youth seen waving the Nigerian national flag in support of the ongoing protest against the unjust brutality of The Nigerian Police Force Unit named Special Anti-Robbery Squad (SARS) in Lagos on October 13, 2020. - Nigerians took to the streets once again on October 13, 2020, in several cities for fresh protests against police brutality, bringing key roads to a standstill in economic hub Lagos. Demonstrations organised on social media erupted earlier this month calling for the abolition of a notorious police unit accused of unlawful arrests, torture and extra-judicial killings. The government gave in to the demand on October 11, 2020, announcing that the federal Special Anti-Robbery Squad (SARS) was being disbanded in a rare concession to people power in Africa's most populous nation. (Photo by Benson Ibeabuchi / AFP) (Photo by BENSON IBEABUCHI/AFP via Getty Images)

What I am hearing and what you must have heard is that it is time to give power to the youths, or time for the youth to take power. However, I don’t know where power is given and how simply power can be taken.

It is recently that people started changing the phrase ‘knowledge is power’ to something like ‘power is power’, probably because of ‘Game of Thrones’ movie coming to change established wisdom or because people started seeing people in power but do not know how they got there. But does that mean they just jumped there?

I believe the quake created recently in Nigeria by the Labour Party led by Peter obi and followed by ‘Nigerian youths’ who are created by the Endsars aftermath;  where the youths believe that the ruling ‘old people’ have failed and the consequences are killing the youth so they want to go from rampage on the street to take over the government. That is strange! If they claim this is not the case then what was the plan? The agitation was not created by any structure nor did it evolve into any. In fact, the logic posed then was not to make anything organized so it won’t be infiltrated by the ruling class that are somewhat organized.

This class of youths claim they represent the Nigerian youths and later in the course, the voices of the people dominate the fan and the disciple of the presidential aspirant of LP (Labour Party). These ‘Nigerian youths’ curse those that supported a person like Tinubu, of the APC especially the youths as a betrayer and slaves of the corrupt class.

How easy is it to pass down power and create regeneration in the political system of a country especially if the existing system is unfavourable, corrupt and selfish? has this form of emotionally driven- expressions and proclamations, and uncalculated moves and assertions ever toppled the existing greedy government? Do we really think it is easy to make a change after so many years of degradation from people who were once young and then grew in rank to become the ruling generation by just trying to make points under 160 characters on Twitter within the bedroom? Shouldn’t the be more to it if we are serious?

Youth claim to be angry, fed-up ready. The Endsars event made this clear and it was closely followed by the election to swap governments. It is then strange that of all the agitations, and tweets, only Peter Obi with is grey hair was available.

Knowledge might not be power but knowledge brings power. It is irrational to say power is power because you need to have that power first, and it can only be easy through inheritance and a fool that inherit power can’t keep it.

In the history of those that were youth before us but with the same problem can be a place to start. The Nigerian heroes fought to take power from a more advanced race that came to colonize us. If you listen to the likes of Tafawa Balewa, Obafemi Awolowo, Nnamdi Azikiwe, etc, you will understand and feel the knowledge and freedom-fighting wisdom to take back their country. It is like taking candy from a cow, you don’t want to be dead and be blamed. And this way of engagement can’t happen differently. We are being colonized by our greed and age is not the problem the but a general corrupt mentality. Black people that were violent at those times were commended but they died anyway. It was the Whites who gave freedom to us after it was sought through wisdom and maturity. They were young too and their fathers might have displayed ’endsars’ energy but we met by ‘massacre’ beyond the ‘lekkis’; and failed.  These young men did not even make a ‘Fela’ their mouthpiece while he was smoking weed the way Endsars event went, nor did they make the playful and ranting Aisha Yesufu and falz A Bad Guy as a spokesperson. They were intellectuals; they understood the system and they penetrated it.

A closer example is the story of Obama. He was young. His skin color made it even worse for him to become a president in the land of white. He could be listening to DMX or 2PAC for motivation, but he did not.  Obama grew within the rank of people you will naturally see as trash, ‘the old people’ to get to the top.

I could remember in our Aluta days, not much can be achieved if we do not own some of the elders before Aluta continua. Lecturers are consulted in our plans for wisdom and secrets and so if the sky will fall it won’t cost us in the process of winning.

Let’s even look back more on some prominent agitation versus common sense. The liberation of the Black Americans from the White, unfortunately, started with ignorance, youthful exuberant and mindless agitation like the Endsars. This won the blacks nothing but hate and guns. Elijah Muhammad came up with an ‘Islam’ to fight the Whites just like they used Christianity to suppress Africans. But this amounted to nothing also as the idea is based on both hate and ignorance. The White are the ones with the power so you can’t outrun them. It took the knowledge and wisdom of Martin Luther King to stand right and Malcolm x to understand that Islam to liberation.

Guys just want to listen to themselves over and over again until the echo suggests to them, they are the voice of the people. The need to read and learnt the past is clouded by afro music and smart-looking tweets. The belief in insults, clap-backs and mockery is a way to fight and a sign of intelligence. Believe because some run tech hubs mean they are ripe enough to rule a country even without a political party or a sustained marriage. They wonder why you don’t rant with them because with your rant, a corrupt leader will resign. How Sowore easily faded from minds like a child throwing off a toy in the face of ice cream.

So, are the youths truly ready?

The system has made our education impotent and no one is sure their knowledge can stand what matters. Many are on drugs clouding their reasoning and to mention the old ones forget it is their responsibility to build the next generation even if all they care about is chatting and ranting on keypads. Until we are organized and get trained to learn the secrets, we will keep hoping for one of the old people that will be sent to build to deliver the nation, and that man can only be like Obama and not obi.

We are hoping the new regime will bring up the youth, not only by negative or positive encouragement but a conscious system to train younger ones in leadership to sustain their good work (If there is any). These youths shall co-exist with your children and if you mismanage them, they will collapse the system at the time it won’t be on your watch again. Apparently, the political prowess of Asiwaju is undeniable, so when he said “emi lo kan’ (it is my time now), we found it disgusting but logically acceptable since we are not blind, we could see the road map and footprint, we should learn from that.

Analysts Favor Collateral Network (COLT) Over Fantom (FTM) and Elrond (EGLD)

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There are winners and losers in the blockchain space, and investors are always looking for the next big project. Recently, analysts have been keeping a keen eye on phase 1 of Collateral Network’s (COLT) presale, which represents a great opportunity for early investors ahead of 35x returns. Let’s review why analysts are favoring COLT over Fantom (FTM) and Elrond (EGLD).

>>BUY COLT TOKENS NOW<<

Collateral Network (COLT)

Collateral Network (COLT) is the world’s first crowdlending platform that uses asset-backed NFTs as collateral for loans. This new system by Collateral Network (COLT) allows borrowers to acquire fast cash payments without impacting their credit scores.

On the lender’s side, they can capitalize on an entirely new asset class and earn interest payments every week — all with just a few clicks.

For example, Mr. Mitty wants to take out a loan of $500 and has identified a piece of art he owns as collateral. He signs up for Collateral Network (COLT), mints an NFT for his artwork, and then lets lenders bid on the loan. He can receive funds in less than 24 hours and pay the lenders back with interest as per the terms of the loan.

The asset-backed NFTs are fractionalized, meaning lenders can own a tiny portion of the NFT, making them more accessible and liquid than ever before. This also provides an opportunity for smaller investors to get involved in asset-backed lending with minimal risk.

Collateral Network (COLT) has a utility token to incentivize users on the platform and unlock premium services, such as reduced fees on the marketplace, discounts on borrowing fees, governance voting rights and more.

The COLT token has just been released to the public via the presale, and analysts are expecting a huge demand. When you consider that Collateral Network (COLT) is bringing much-needed change to the $1.5 billion crowdlending industry, it’s easy to see why analysts are so bullish on the Collateral Network (COLT) project, forecasting that COLT will rise by over 35x during presale.

>>BUY COLT TOKENS NOW<<

Fantom (FTM)

Fantom (FTM) is like the rebel of the smart contract world – while everyone else is content with blockchain technology, Fantom (FTM) said “Nah, we’ll do things our own way.” And that way happens to be using directed acyclic graph (DAG) technology, which gives it some serious speed and scalability advantages.

Fantom (FTM) has seen some adoption from Defi projects that are impressed by its performance, but the blockchain space is highly competitive, and for now, Fantom (FTM) hasn’t been able to gain a significant advantage over competitors.

Fantom (FTM) is down 94% since hitting its all-time high of $3.48 in October 2021. While the whole crypto market is down since then, the performance of Fantom (FTM) has been particularly poor. Analysts suggest that Fantom (FTM) holders can either be patient or swap to Collateral Network (COLT) for a better risk-to-reward ratio.

>>BUY COLT TOKENS NOW<<

Elrond (EGLD)

Elrond (EGLD) is a blockchain platform that uses sharding technology to enable extremely fast transactions, with the potential to process 15,000 transactions per second at just $0.001 per transaction through Elrond (EGLD).

Elrond (EGLD) simply has one of the most powerful infrastructures in the blockchain space, which is why the recent rebrand from Elrond (EGLD) to “MultiversX” is so perplexing. This rebrand represents a shift away from what it’s known for, which could be a sign that Elrond (EGLD) is looking to target retail investors rather than serious developers.

Additionally, Elrond (EGLD) is down nearly 94% from its all-time high. Many analysts feel that this type of performance by Elrond (EGLD) isn’t worth the risk involved and are instead opting to invest in Collateral Network (COLT) and other projects with better risk-to-reward ratios.

 

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk

Destiny and Hope: Astrological and Semiotic Analyses of Tinubu’s Victory at the 2023 Presidential Polls

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Nigerian career politician and statesman, Senator Bola Ahmed Tinubu aka BAT, has recently become the sensation of the moment after achieving a monumental victory in the just concluded 2023 general election in Nigeria which qualifies him to be instated as the 16th president of the federal republic of Nigeria on May 29.

Following the 2023 presidential election which held on Saturday, February 25, Tinubu was declared winner of the keenly contested poll and president-elect of the federal republic of Nigeria by the chairman of the Independent National Electoral Comission (INEC), Professor Mahmood Yakub, having secured the majority of total votes cast and having won in 12 states of the federation which satisfy the provision of the Nigerian law which states that the president elect must have the highest number of the total vote cast and win at least 25 percent of the 36 states of the federation plus the federal capital territory, Abuja.

Tinubu’s landslide victory over his contenders, former vice President, Atiku Abubakar, former Governor of Anambra State, Peter Obi Gregory, Rabiu Kwankwanso of Kano State and fifteen other contestants for the office of the president of the federation purportedly fulfilled his long-term ambition and sealed his reputation as an influential politician and master strategist in the country.

Beyond his political sagacity and track records in state affairs, BAT’s persona has been subjected to astrological and semiotic interpretations. BAT often wears his caps engraved with a sign of a horizontally positioned figure eight, and there have been several conspiracy theories about what this sign represents. Some believe the logo of BAT’s cap is associated to the symbol of the Ouroboros cult, a serpent eating its own tail, which is generally interpreted as the cycle of life, death and rebirth.

However, Tinubu’s personal account of the inspiration behind the symbol of his cap suggested otherwise. According to the Nigerian statesman and former Governor of Lagos state, the logo of his cap represents his political ideology which entails freedom and prosperity. He said the symbol characterizes a broken chain which can be interpreted as breaking free from the shackles of poverty. Interestingly, Tinubu’s slogan for the 2023 presidential campaign, ‘’Renewed Hope’’ is not at variance with his political ideology.

Furthermore, recent revelations from the just concluded 2023 presidential election perhaps inspired a new possible meaning of the insignia of BAT’s cap. This new meaning presupposes the enigma of destiny rather than an affiliation to a cult.

In numeric interpretation, the figure-eight-like symbol of BAT’s cap probably preordains Tinubu’s numbers (8.8million votes approximately) which gave him his victory at the just concluded presidential poll.

If this is just a comical coincidence, it is not a postulation that astrologers would likely take for granted. Astrology is the ancient study of signs, symbols and numbers to cosmically understand events.

Investors Swarm the Collateral Network (COLT) Presale, While Fantom (FTM) and Helium (HNT) Stay Bearish

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The crypto market has been a rollercoaster of successes and failures in the past few months. For example, Collateral Network (COLT) has been attracting a lot of attention from investors during the presale, with forecasts that COLT is set for 35x returns from its initial price of $0.01, while Fantom (FTM) and Helium (HNT) have continued to make new lows not seen for months. Let’s review why all of this is happening.

>>BUY COLT TOKENS NOW<<

Collateral Network (COLT)

Whether you need to borrow funds or want to earn interest payments for lending, Collateral Network (COLT) is a decentralized platform that allows users to do both. The magic of the Collateral Network (COLT) platform lies in the use of asset-backed NFTs that are used as collateral for loans.

This new system by Collateral Network (COLT) bridges the gap between the digital world and the physical world, as Collateral Network (COLT) users can mint NFTs that represent real-world assets — whether that’s artwork, watches, or vintage wine — to secure loans.

By leveraging their physical assets, borrowers can receive instant cash payments without leaving a footprint on their credit score. Those looking to earn some extra money can become lenders and receive weekly interest payments.

Smart contracts within Collateral Network (COLT) automate the entire process so that lenders don’t have to worry about non-payment or counterparty risk. Plus, with no middlemen or banks to go through, the whole process is streamlined and incredibly cheap.

Momentum is in building in phase 1 of the Collateral Network (COLT) presale, with investors from all over the world clamoring to get their hands on COLT before it hits the exchanges and surges by 3500%. Collateral Network (COLT) holders can receive staking rewards, get governance rights, and pay fewer fees — all of which make for a compelling investment case.

>>BUY COLT TOKENS NOW<<

Fantom (FTM)

Fantom (FTM) is a smart contract platform with a difference — it uses directed acyclic graph (DAG) technology instead of regular blockchain technology. Fantom (FTM) helps to reduce transaction times and costs, creating a faster and more efficient platform for transactions. Fantom (FTM)

Fantom (FTM)has been a major draw for the Defi industry, which is looking for faster and more efficient solutions as the sector continues to expand. Covalent, Ankr, and Chainlink are three of the many projects currently using Fantom (FTM) technology.

However, while Fantom (FTM) is slowly being adopted by the sector, its price remains bearish —down 94% since hitting $3.48 in October 2021. This has been attributed to bear market conditions, as well as increased competition from other projects – if Fantom (FTM) can overcome this, it stands a strong chance as a top contender for 2023.

>>BUY COLT TOKENS NOW<<

Helium (HNT)

Helium (HNT) is a decentralized network that is focused on IoT (internet of things) devices. The aim of the Helium (HNT) project is to create an open, low-cost wireless network that can be used by anyone to connect and share data.

There are currently 981,021 Helium (HNT) hotspots around the world, creating a powerful network that is growing every month. T-Mobile is one of the biggest investors in Helium (HNT), as they are also looking to leverage this technology to provide innovative services.

Despite this impressive adoption rate, the Helium (HNT) price remains bearish — down 97% since hitting $55.22 in October 2021. A lot of this can be attributed to the bear market conditions, but also a lack of news from the Helium (HNT) project – if new developments are continued, then Helium (HNT) is set to surge as demand in the current market increases.

 

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk