DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 4495

Update: Nigeria’s Central Bank Governor Resumes Duty

0

Update: This is an update

 

Original Article

In December last year, an Abuja Federal High Court stopped the attempt by the Department of State Services (DSS), to effect the arrest of central bank governor, Godwin Emefiele.

The DSS had moved for Emefiele’s arrest based on allegations that he’s financing terrorism and that he’d committed other economic crimes, creating a cloud of controversy and a potential threat to Nigeria’s economy.

The move came along with allegations that the central bank governor masterminded the heist that saw N89 trillion stamp duty fund disappear from the government coffers. The allegations triggered a demonstration by a group of protesters who last week demanded the resignation of Emefiele.

Ever since those developments hit the news, the central bank governor has been notably scarce in the public. Emefiele was part of President Muhammadu’s entourage to the US-Africa Summit held in Washington in December, but failed to return to Nigeria after the event.

Although there are claims that his disappearance has nothing to do with DSS’ attempt to arrest him, that he’s on his annual leave, Emefiele is due to return to Nigeria to resume work as the head of the Central Bank of Nigeria (CBN). But that has not happened.

On December 24, People’s Gazette reported that the DSS had established a surveillance operation to arrest Emefiele on sight despite the High Court’s order, restraining them from arresting him.

“We have different teams of at least two each monitoring those places. We don’t know if they have more people deployed to even more places, but we did not see any signal from the DG’s office to suggest his involvement at this point,” a DSS source told Peoples Gazette.

Yesterday, the whereabouts of Emefiele was discussed on ChannelsTV’s Sunday Politics, which had rights activist, Femi Falana as a guest. The Senior Advocate of Nigeria (SAN) was generous with words when answering question on Emefiele’s whereabouts. Mr. Falana reechoed what several others have been saying.

“I can say without any fear of contradiction that Mr Godwin Emefiele is not in Nigeria; he hasn’t returned to the country because he has been declared wanted by the state security services,” he said.

But while the DSS has maintained that it is acting based on evidence, a section of Nigerians believe the move to arrest Emefiele is buoyed by the recent CBN policies – the redesign of the naira and the introduction of a new withdrawal limit. These, they believed, have irked state and non-state actors who were counting on the old rules to influence the outcome of the coming election through vote-buying.

In support of that belief, many said that the court had denied the DSS an ex parte order on Emefiele because the service failed to provide any evidence to back up its claims. Falana said if there was evidence, the DSS doesn’t need a court order to effect an arrest on any Nigerian who is not protected by immunity.

“If you have the evidence that he has committed the offence alleged, you don’t need a court order to arrest him and that is the law. And by the way, no court in Nigeria or anyway has the power to confer immunity on any citizen… If you are not one of the 74 people who are entitled to immunity in Nigeria; that is the President, the Vice President, the governors, and deputy governors, no other person can enjoy immunity,” he said.

However, while the burden of proof rests on the DSS, the CBN governor, who is seen to have over time created for himself an imbroglio reputation by indulging in illegalities, has not utter a word on the matter. Emefiele openly moved to run for president last year, and has over the last five years, printed more than N22 trillion in Ways and Means loan to the federal government. All in violation of existing laws, which consequently created an image of someone who is capable of committing serious crimes for the governor.

Read also: Emefiele: The Baffling Audacity of A Partisan Central Bank Governor

Against this backdrop, Nigerians are divided on what to believe as the DSS has also been caught several times overstepping its bounds working for vested interests.

However, Emefiele’s refusal to return to Nigeria has been given different interpretations. While many believe it is because he has a case to answer, others say he is trying to avoid being humiliated by a possible arrest given his position as the central bank governor.

BusinessDay quoted a well-connected government source as saying that “there is a deal that will allow the governor to return this week without arrest, but he will be presented with evidence of the allegations against him, and thereafter it is expected he will resign.”

On the other hand, Falana believed the DSS doesn’t have to wait for Emefiele’s return to file charges against him if he has committed a crime.

“So, you can’t say don’t arrest a citizen if there is reasonable suspicion that he has committed an offence. So, I expect the State Security Service to come out with the allegations, and if Mr Emefiele is not going to return to the country, file a charge in the Federal High Court so that he can get his lawyers, and prepare his defense,” he said.

Nigeria is a country where rule of law is not diligently followed. And based on the relationship between Buhari and Emefiele, which is largely believed to be hanging on quid pro quo, Nigerians appear not surprised by what is playing out. Emefiele has repeatedly said he has Buhari’s backing in major decisions he has made.

 

WikiCat Coin and Defi Tiger Token are Creating Buzz in the Nigerian Crypto Community

6

The Nigerian Crypto Community have witnessed a massive buzz in the last weeks, owing to the rise of $WKC and DTG -1.37% meme inspired tokens.

Prominently, WikiCat Coin and Defi Tiger Token has exceeded expectations, the rebase tokens started off as a community push on Smart Contract Dao (SMCDao) with less than 2500 members until its recent exploits numbering over 10,000 unique wallet holdings.

SMCDao, is a community of Believers helping everyone learn and earn in the digital space. With cogent and intuitive push and supports from SirMapy and Crypto Wealth Embassythe two meme alike tokens have been listed on CoinGecko and CoinMarketCap— the most reputable sources for Crypto Statistics, and both coins is currently trending on DeXToolsand Pancakeswap.

Fast forward to early 2022, SirMapy in one of his weekly Community messages on the SMCDAO Telegram channel, he pointed on the direction where WikiCat and Defi Tiger token is heading at— View below screenshot to read more about his predictions and frustrations on SMC Users selling $WKC while at $5K Market-cap.

As at May, 2022, the price of $WKC and DTG -1.37%? was deteriorating and amounting to nothing, some Dev teammates upon witnessing this ugly trend sold off their investment shares to push for new project development leaving SirMapy, Crypto Wealth Embassy, CryptoBaddie and other Community members to rallying on the WikiCat and Defi Tiger projects.

“SMC early members you have no excuse for missing out on $WKC”, he tweeted recently. There’s also a Discord post as far back at June, where SirMapy was literally begging the SMC community members not to sell off their $WKC holdings owing to the underlying project plans.

WikiCat Coin is currently at $19 million market capitalization with a fully diluted Valuations of $29.9 million, $WKC is trading around 0.~[00000003] cent while Defi Tiger Token is at $3 million market capitalization with a fully diluted Valuations of $4.8 million— DTG -1.37%? is trading at 0.~[00000001] cent at press time.

Both projects has renounced ownership and it White Paper released, meaning it’s strictly community driven, SirMapy announced setting up SMCDAO Community Funds, where over $125,000 worths of $WKC was deposited, signaling a shift from individual ownership.

Apparently, WikiCat Coin has undergone two independent Smart Contract Audit; one from Solidity Finance and the other on FairProof Tech. You can earn SMC points while engaging in the SMCDAO Telegram channel or on Twitter, this points will be used for redeeming SMC Airdrops in the long run.

Enroll In Tekedia Mini-MBA At 0% Interest Rate via FinQuest Finance

0

Good People, a fintech startup, FinQuest Finance, makes it simpler for learners to join Tekedia Institute Mini-MBA when they cannot afford the N90,000 (or $170) tuition at once. At ZERO interest rate, you can attend Tekedia Mini-MBA and pay over three months. Our program is so good that more than 97% complete it. Even in America, government loans do not come at 0%. So, this is something to celebrate; we admire the vision of FinQuest.

Tekedia Mini MBA program is designed to give you the knowledge and skills you need to succeed in today’s competitive business world in just 12 weeks.  FinQuest for many editions of our program has helped hundreds to attend Tekedia Mini-MBA with an optimized payment model. Go and apply here and you can pay the N90,000 over 3 months at no interest here.

Tekedia Institute offers an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents.

It is a sector- and firm-agnostic management program comprising videos, flash cases, challenge assignments, labs, written materials, webinars, etc by a global faculty coordinated by Prof Ndubuisi Ekekwe.

Binance Has Assisted Huobi in Recovering 124 Bitcoins from the Horizon Bridge Hack

0

In June 2022, The Harmony Protocol team identified a theft occurred on the Horizon bridge amounting to approx. $100MM. Harmony bridge hack worth was the entirety of its TVL. It’s likely every asset on $ONE is now unbacked by the bridge.

However, Binance has assisted Huobi Exchange in recovering 124 Bitcoin worth $2.58 million— from the Harmony bridge hackers, according to Binance CEO Changpeng Zhao (CZ).

The hackers previously tried to use Binance to launder the stolen funds, but the accounts was frozen, according to CZ’s tweet.

The collaboration between the two exchanges also foiled the hacker’s new attempts to use Huobi in moving funds, as confirmed by Huobi’s advisor Justin Sun.

On-chain sleuth ZachXBT reported on Jan. 16, that North Korea’s Lazarus Group moved 41,000 Ethereum (ETH) — worth $64 million — from the Harmony (ONE) Bridge hack over the weekend.

The funds’ transfer originated in batches of 100 ETH from OFAC-sanctioned Tornado Cash to another privacy platform, Railgun, according to the chart shared by ZachXBT. ZachXBT said the funds were later consolidated and deposited on three unnamed exchanges.

The movements were first noticed by the crypto compliance platform MistTrack on Jan. 14, tweeting that an address associated with the Harmony bridge exploit was on the move.

Elliptic, notes that the attack was carried out by compromising the cryptographic keys of a multi-signature wallet, a technique commonly used by Lazarus Group, adding that the programming laundering of funds it observed following the Horizon Bridge hack was “very similar” to that seen following the Ronin Bridge attack.

Following a $100 million Harmony bridge hack on June 24, 2022, the layer-1 blockchain offered a $1 million bounty for the return of the funds. Blockchain analytical firm Elliptic later traced the attack to North Korea’s Lazarus Group.

Twitter Third-party App Developers Suggest Twitter Deliberately Limited Access to The Platform

1

Developers of Twitter’s third party app such as Tweetbot, Echofon, Mastodon, Twitterrific, etc are suggesting that Twitter deliberately limited access to the platform.

Recall that last Friday, a publication on Tekedia revealed that third-party app users were not able to gain access to their accounts which made it unable for them to access their Twitter feeds.

Users/ Developers of these apps therefore suggested that Twitter likely made some changes to its Apis for third-party clients.

Some other users hoped that the difficulty faced in accessing their Twitter account was a temporary glitch which should be resolved as soon as possible.

According to reports, Tweetbot co-creator Paul Haddad even tried to make the app work by loading in old API keys. That trick worked for a while and some folks were able to access their accounts. However, users started to hit an API limit and the client was later suspended again

Also, Third-party app Tweetbot revealed that they reached out to Twitter for more details, but revealed that they haven’t gotten feedback till date.

Due to Twitter’s silence and failure to address the whole challenge that third-party apps are facing accessing the platform, they are suggesting that Twitter deliberately limited access to third-party apps.

Meanwhile, internal messages on the micro-blogging platform disclosed that shutting down certain third-party clients was a company decision rather than a bug.

The report revealed that one project manager told the product team that the company had “started to work on comms,” but didn’t provide any timeline for official and approved communication.

The reason for the suspension couldn’t be learned. Last week, there were speculations that Twitter might have turned off access to the apps deliberately because they don’t help drive ad revenue.

This implies that the apps may be hurting Elon Musk’s ability to stop a major decline in ad revenue in the past two months.

Reacting to Twitter’s action to deliberately suspend third-party apps, and how it failed to communicate to affected users on its recent plan, an app developer Matteo Villa who has made apps for Apple, took to his Twitter account to express his frustration.

He wrote,

“There you go. The total lack of communication is quite insulting for all the people who worked on these apps and use them every day. I mean, the platform is yours and you can do whatever you want with it, but own your own decisions.

And I’m honestly thinking of also pulling Fenix for iOS from the app store.People are still downloading it, and who knows if or when it’ll stop working.”

Last year, Twitter’s former head of developer platforms, Amir Shevat, disclosed that the new management broke the trust of developers.

“This dubious suspension of third-party Twitter clients without any communication will not instill any confidence in the community”, he said.

Since Musk took over Twitter last year, he has been carrying out a series of revamps at the company and has reportedly shuttered several developer-related projects including Twitter Toolbox for app discovery.

Lately, developers have been cautious about their Twitter development plan given that the company hasn’t explicitly communicated its plans about platform support.