Saturday

2023: Age and certificate forger Bola Tinubu says he is the 'quality' Nigeria is looking for

CC™ Politico News

All Progressives Congress (APC) Presidential aspirant, Bola Tinubu, has disclosed that if given the support to become Nigeria’s president, he will unite the country’s different ethnic groups.

Speaking at Ataoja’s palace in Osogbo of Friday, as part of his consultation tour of the country, he said Nigeria needs a man that can harness the nation’s diversity for prosperity.

The former Lagos State Governor said managing resources is his specialty, adding that the urge to serve made him apply for nation’s presidency and will not let Nigerians down.

He adds, “I am the quality Nigeria is looking for to make the country a very great, prosperous and united, not only in Africa but worldwide.

“Having reviewed the Constitution, I ask myself who is better than me, this prompted me to come out, consult, and be ready to serve the country.

“I have been going round the country, I offer myself the opportunity to become the president of the Federal Republic of Nigeria. I have informed Buhari of this, I told him that I want to step in his shoe and not break a toe. I told him that I want to serve my country to the best of my ability”.

Tinubu added that he will rejig Nigeria such that quality education and job opportunities would be available for Nigerians irrespective of their ethnic nationalities or religion.

“We need a lot of jobs, solid education for our children, we need progress for our country.

“We want somebody that can bring that… what we have in our old national anthem that “Though tribe and tongues may differ, in brotherhood we stand”.

“We must be solid in that belief. We must know that it is the same blood that is running in our veins irrespective of tribe and faith.

“We must have a good attitude for progress and prosperity.

“You must find courage, determination, perseverance, you must find that fellow who will love you, respect you and prioritize national development,” he said.

Speaking on his ability to deliver, Tinubu said, “I am not applying for the job of grave digging, race running, or horse riding. I am not applying for a job of bricklaying.

“I went to school to study accountancy and management. I am applying for a job that demands using my brain, intelligent thinking. I am ready to do things right.

“The job I want to do for Nigeria is for the country to be greater and be proud of our sons and daughter. We want to leave a legacy of unlimited success”.

Responding, Ataoja of Osogbo, Oba Jimoh Olaonipekun said having seen that Tinubu is outstandingly fit, stressed the need for Yoruba nations to stand by him for quality service delivery.

“I have personally seen that you are fit to run the country contrary to insinuation peddled around, you are good product for Nigeria’s prosperity and your vision to rule Nigeria shall come to pass.

“You have nurtured quality men, you gave us one in Osun in 2018 and I know you will not let Nigerians down. Osogbo is with you on this project”, he said.

Friday

Panic in Russia as NATO deploys troops; West imposes ‘severe’ sanctions

CC™ Global News

NATO shifted some of its troops on Friday in order to be able to respond swiftly if needed, as Russian attacks on Ukraine continued unrelentingly and Western countries and alliances imposed tougher sanctions on Moscow.

NATO is deploying units of the rapid reaction NATO Response Force (NRF) on land, at sea, and in the air to respond quickly to any contingency, Secretary-General Jens Stoltenberg said, as Russian continued its attack on Ukraine.

He did not initially state where the troops would be deployed, in comments that followed a video conference with NATO leaders, but sources learned that ground troops could be sent to Romania.

Meanwhile, NRF units are due to head to Norway, for an exercise, in the first deployment of parts of the NRF in the course of deterrence and defense of the alliance area, Stoltenberg said.

The NATO members said the measures were “preventive, proportionate, and non-escalatory” in a statement.

German Chancellor Olaf Scholz told the emergency summit that the eastern members of the alliance needed more troops following Russia’s attack on Ukraine.

As he spoke, the first British soldiers and trucks carrying additional equipment reached Estonia to reinforce the NATO battalion there.

A convoy with six battle tanks and other military vehicles reached the Tapa military base, the Estonian army said.

London is set to send 850 soldiers and equipment to Estonia, roughly doubling the British contingent there.

Other NATO members also announced new deployments to strengthen the Western military alliance.

Italy said it was making around 3,400 additional soldiers available on the alliance’s eastern flank, while Denmark announced it was ready to contribute 20 more F-16 fighter jets to help secure NATO airspace.

Also on Friday, Russia banned British aircraft from using its airspace, in a tit-for-tat response a day after London barred Russia’s Aeroflot airline from flying to Britain.

Poland and the Czech Republic followed up later by saying they would also close airspace to Russian planes.

Friday also saw Western countries impose tougher sanctions amid Moscow’s unrelenting attacks.

Washington was the latest to announce sanctions targeting Russian President Vladimir Putin and Foreign Minister Sergei Lavrov, on Friday after penalties imposed on the two earlier by Britain and the European Union in response to Moscow’s invasion.

Russia responded by criticizing the sanctions on Putin and Lavrov, slamming these as a sign of weak foreign policy.

In further efforts to cease hostilities, the Organization for Economic Co-operation and Development (OECD) formally ended Russia’s accession negotiations, it said in a statement.

The organization said it would continue to reconsider its co-operation with Russia in the days and weeks ahead, while also weighing how to better support the Ukrainian government.

The move came after the 47-country Council of Europe, Europe’s human rights watchdog, suspended Russia with immediate effect.

Individual countries also adopted their own measures, with the Spanish government withdrawing the country’s ambassador to Ukraine.

The pro-Russian president of Serbia, Alexander Vucic, has been critical of the Russian invasion of Ukraine.

“We consider it a grave mistake to violate the territorial integrity of a country like Ukraine,” Vucic said in Belgrade on Friday evening.

At the same time, he said that his country would not be imposing sanctions on Moscow.

Ambassador Silvia Cortés will be taken to Poland in a convoy of vehicles together with around 100 other Spanish citizens, Foreign Minister José Manuel Albares told Spanish media on Friday.

The invasion has opened the eyes of many EU states, according to Latvia’s prime minister Krisjanis Karins, who said a period of naivety had come to an end, in comments to Latvian news agency Leta.

“Many European countries have lived under the illusion that everything can be negotiated if they find the right words to say to Putin and if they are patient,” Karins said, referring to the Baltic states’ long-standing admonitions to its EU and NATO partners.

But with a “brutal war” unfolding in Ukraine, Karins said, the same countries now understand that these were only empty hopes.

“For a long time, the world did not want to accept the obvious. Now everything has changed.

“Putin has lost all trust and support within the democratic world,” Karins said.

At the close of the day, U.S. President Joe Biden reiterated Washington’s support for Ukrainian President Volodymyr Zelensky.

“I commended the brave actions of the Ukrainian people who were fighting to defend their country,” Biden said in a statement following their call.

“I also conveyed ongoing economic, humanitarian, and security support being provided by the United States as well as our continued efforts to rally other countries to provide similar assistance,” U.S. President Joe Biden assured Zelensky.

Washington also dismissed Russian offers of talks with Ukraine.

“Diplomacy by the barrel of a gun, coercive diplomacy, is not something that we are going to take part in,” U.S. State Department spokesperson Ned Price said, adding this would not aid peace efforts in a real, genuine and sustainable way.

Diplomacy cannot succeed in a context where “you rain down bombs, mortar shells” and “your tanks advance towards a capital of 2.9 million people,” he said.

Meanwhile, people worldwide took to the streets to show their solidarity with Ukraine.

Buildings and monuments were lit up in the blue and yellow colors of the Ukrainian flag, including starting Friday evening the Eiffel Tower.

In Germany, rallies were announced for the weekend in cities including Berlin.

In Stockholm, Swedish climate activist Greta Thunberg showed her support during Friday’s climate protest.

Along with others, the 19-year-old stood in front of the Russian embassy.

She held a small sign in the blue and yellow national colors with the inscription “Stand with Ukraine” in her hand.

Tuesday

2023: Nigerians in Diaspora mobilise against career politicians


CC™ Politico News

By Clifford Ndujihe

To halt what they deemed the downward slide of Nigeria into socio-economic and development abyss, some Nigerians in the Diaspora have vowed to ensure that a career politician did not succeed President Muhammadu Buhari in 2023.

According to them, it is time for career politicians to take a back seat, and entrepreneurs must be supported to take over in the new era of “politics of the unusual.”

Meeting on the banner of Nigerian Patriotic Quest, NPQ, the concerned Nigerians across the world took the decision at a physical/online meeting held in Washington DC, United States of America on February 18.

In a communique by their Coordinator, Mr. Ahmed Ja’Usman Tijani, they said their desire is to “change the negative trajectory of Nigeria’s politics. There could be no better time to address these issues than now, as the nation gradually enters another season of politicking and horse-trading for the 2023 elections.

“The 247 participants at this inaugural meeting were drawn from various advocacy groups across the united states, the UK, Continental Europe, and Nigeria.

The participants were fervent in their conviction that Nigeria can no longer afford to continue on the path of political decadence that have blighted the promises of this nation in the past decades.

“The participants, also unanimously declared, that as stakeholders in the destiny of this nation they can no longer stand aloof, while some unsavoury characters continue to decimate and destroy the glory and prospects of this nation.

“A number of participants in diaspora stated that they were forced to flee Nigeria because of the inanities and destructive politics which have brutally dimmed the potentials of both Nigeria and Nigerians.

“We believe that working together, with all Nigerians, we can begin the arduous, but not insurmountable task of pulling this nation back from the path of self-destruction. There is no more time, this task must start with the forthcoming general elections in 2023.”

Going forward, they noted that leadership failure caused by the stranglehold on the reins of power by the old class of career politicians was the reason for Nigeria’s stunted growth.

“This set of leaders have failed to use the instruments of power to build the nation, but are only interested in acquiring power for the sake of power. This has been the bane of Nigeria and it is disheartening that such characters are already parading the national space, with the intention of attaining power at various levels come 2023 in order to continue their destructive politics of self-aggrandizement.

“Nigeria cannot afford to tow this path again. It is time for a new leadership to emerge. Until we retire the career politicians, who have created and used ethnic and religious divisions to attain and perpetuate themselves in power we will continue to wallow in poverty and underdevelopment.”

Consequently, they said: “it is time to build a new vanguard of leadership which is totally anchored on competence and track record of verifiable achievements.

“It was agreed generally, that in this nation they are personalities that have created massive values through dint of hard work, managerial acumen, and unbridled spirit of entrepreneurship.

“These men who have created something out of nothing deserve to be pushed forward at this time in order to rescue Nigeria from the edge of the precipice. “


AGENCY

Saturday

Crypto is the next step toward a cashless society


CC™ Financial News

Julian Hosp

It will take some time for consumers to warm up to crypto, but education is the key to its mass adoption. 

From QR code payments to mobile banking apps, consumers worldwide are increasingly reliant on digital payment solutions, especially as mobile technology becomes more ubiquitous. Government-led efforts in driving cashless economies have been a key factor, with countries such as Singapore or the Philippines seeing their central banks driving the adoption of contactless payments during the height of the COVID-19 pandemic. As a result, usage rates for digital payments platforms have recorded promising growth, even as high as 5,000% in the Philippines alone.

This unprecedented rise in cashless payments is also paving the way for the broader adoption of crypto, with the number of crypto users worldwide hitting around 106 million in January. While this marks an impressive 15% month-on-month growth, it is still just a drop in the ocean when compared to the 4.7 billion people who have access to the internet.

But as crypto continues to command headlines, what will it take for mass adoption to happen?

A new model of financial accessibility

Today, billions of people worldwide are unable to access even the most basic financial services via traditional means, and thus are unable to save or manage their money securely. In times of economic devastation, such as this past year in which global economies have been staggered by the impact of COVID-19, the vast gap between rich and poor has become abundantly clear. The global pandemic has only perpetuated the absence of inclusive financial infrastructure, which has led to approximately one-third of the global population having no financial safety net to fall back on.

With crypto wallets, however, anyone can transfer their crypto internationally without needing to maintain a minimum balance in their account, as long as they have an internet connection. As crypto applications are built on decentralized blockchains, transactions are performed on a peer-to-peer basis in the absence of traditional intermediaries such as bankers or brokerage houses. This results in significant savings in transaction costs, as traditional cross-border remittance fees for small amounts can be as high as 7% after taking into account intermediaries’ fees on both the sender and recipient side. Meanwhile, the same fees for cryptocurrencies are often less than 1 percent — regardless of transaction amount.

Furthermore, highly decentralized platforms are permissionless, meaning that anyone with a crypto wallet and internet connection can lend, remit or trade their crypto without validation by a central authority or intermediary. Instead, transactions are executed by smart contracts, which automate them as long as pre-encoded conditions are met. Beyond the cost savings, consider the time savings as well. Remittance transactions can take several days to be processed, whereas cryptocurrencies can be transferred in mere minutes.

However, most crypto platforms still ask for some form of formal identification as part of their identity verification and Know Your Customer (KYC) process. This can range from a phone number to photo ID to proof of residential address. Some platforms adopt a multi-tier approach in which the more information that users provide, the more services they can access. While necessary for KYC and Anti-Money Laundering compliance, this poses barriers to users who do not own any formal identification documents.

Having said that, some decentralized exchanges, or DEXs, still honour the principles of anonymity and trustless working by not enforcing KYC on their users. The elimination of account verification and waiting time for approval has drawn many towards these types of DEXs — such as PancakeSwap, Uniswap and DeFiChain’s DEX — and has made finance truly accessible and inclusive for all.

Beyond simple transactions, recent innovations in the crypto space promise a much more equitable financial system where the unbanked and underbanked can access more means to build wealth. While DeFi products, such as token holding and staking on a DEX, might be a little too advanced for this group of users at the moment, simplified centralized decentralized finance (CeDeFi) services and improvements in financial literacy over time will help to open the door to these inclusive wealth creation opportunities.

Education is key to crypto adoption at scale

Widespread adoption of digital payment technologies, such as QR codes and biometrics, is definitely a promising sign that consumers have become more digitally savvy than ever before. In the Asia Pacific, more than 90% of surveyed respondents said they would consider at least one new payment method in the next year.

In addition to new payment technologies, the proliferation of retail investing has led to a paradigm shift in the investment landscape, with trading activities doubling over the past year. User-friendly platforms such as Robinhood and their well-known crypto counterparts — such as Coinbase — have made investing much more accessible to non-institutional investors.

This historic rise in cashless payments and retail investing saw the public gain more exposure to different asset types. However, in the United States, a staggering 84% of adults are either uninterested in cryptocurrencies or have never heard of them. While this could be attributable to the seemingly intimidating technicalities involved, we are now in a good place to gradually transition towards a more crypto-forward society.

For now, there’s much more to be done to help mainstream consumers gain a better understanding of crypto. Crypto projects, for one, would do well to invest more resources towards creating educational content to bridge the knowledge gap — whether through guides or detailed explainers. Meanwhile, taking on a more transparency-focused approach that looks to debunk misconceptions and ensure that users are aware of the risks associated with crypto, will enable those users to navigate their entry into the space with greater ease and confidence.

Crypto is the MVP in the cashless drive

As conversations on cryptocurrencies evolve, governments are taking note. While cash will not be eliminated any time soon, as many as 86% of central banks around the world are looking into central bank digital currencies in their quest to go cashless. The world’s first central bank digital currency (CBDC) — the Sand Dollar — was announced by the Central Bank of the Bahamas way back in 2018 and officially launched in October last year. The technology team behind this project was led by U-Zyn Chua, who went on to co-found DeFiChain.

Although CBDCs will be regulated by a central authority, their adoption will send a profound message to market participants on the legitimacy of digital currencies. The introduction of CBDCs is thus a much-needed springboard to catalyze large-scale crypto adoption.

In the short term, crypto is not going to replace the existing financial system, but will instead carve out its own ecosystem that is fit for a new generation of digital-first, financially savvy users. While it will take some time for consumers to warm up to crypto, the nascent technology will prove its worth in due time by offering cheaper, safer and more inclusive financial services for all.

Julian Hosp is the CEO and a co-founder of Cake DeFi, a platform dedicated to providing access to decentralized financial services and applications. He is also the chairman of DeFiChain, a DeFi platform built on the Bitcoin network. Julian is an active speaker for the Washington Speakers Bureau and an adviser for the EU’s blockchain groups. Julian graduated from Medizinische Universitat Innsbruck with a Doctor of Medicine in human medicine.

COINTELEGRAPH