ADC
ANZ’s stablecoin used to buy tokenized carbon credits
ANZ’s stablecoin A$DC has been used to buy Australian tokenized carbon credits, marking another critical test of the asset’s use cases in the local economy. In March, the “Big Four” bank became the first major Australian financial institution to mint its own stablecoin after overseeing a pilot transaction worth 30 million AUD ($20.76 million) between Victor Smorgon Group and digital asset manager Zerocap. ANZ’s stablecoin is fully collateralized by Australian dollars (AUD) held in the bank’s managed reserved account. So far, A$DC transactions have primarily been conducted over the Ethereum blockchain. According to a June 27 report from the Australian Financial Review (AFR), the latest transaction saw its long-time institutional partner Victor Smorgon use A$DC to purchase Australian C...
A$DC rocks the Aussie dollar as ANZ bank mints first AUD stablecoin
Big 4 bank ANZ has become the first Australian bank to mint an Australia dollar (AUD) pegged stablecoin named “A$DC.” But rival bank NAB also has its own stablecoin project which is expected to launch by the end of the year. ANZ is working with local regulators such as AUSTRAC and APRA to get the project signed off in a compliant manner, and has already run a test transaction on the Ethereum blockchain with its institutional partner Victor Smorgon Group, the family office tied to the billionaire Smorgon family. According to a March 24 report from the Australian Financial Review (AFR), the stablecoin will initially be rolled out for institutional clients seeking a cost-effective on-ramp for crypto investments, however it is likely to be opened up to the retail trading market in the near fut...
Deregistration: INEC colluding with politicians to undermine court processes – ADC
The African Democratic Congress, ADC, Tuesday, alleged that the Independent National Electoral Commission, INEC, was playing some tricks by colluding with some party leaders and politicians in an attempt to undermine court processes. The National Chairman of ADC, Chief Ralphs Okey Nwosu, who made the allegation, while reacting to the Supreme Court’s judgment which affirmed the deregistration of the National Unity Party, NUP, described alleged moves by the electoral empire as pitiful. Chief Nwosu noted that while the NUP’s case was not of much consequence, the case to watch and which INEC was trying to use NUP to undermine is that involving 22 political parties. According to Chief Nwosu, who is also the interim President of Inter-Party Advisory Council of Nigeria, IPAC, “The Supreme Court j...
2023: ADC condemns INEC’s plan to create more polling units
The African Democratic Party (ADC) has expressed opposition to the plans by the Independent National Electoral Commission (INEC) to create additional polling units ahead of 2023. The National Chairman of the party, Okey Nwosu, addressed the media in Onitsha on Wednesday. He said that establishing more units in addition to the existing 120,000 was bad timing, considering the current economic challenges. The chairman said America, with more population and landmass, has only about 240,000 polling places. “How do we justify this with INEC’s call for additional polling units? Is it because INEC is spending from government coffers?” he quipped. The ADC leader advised the electoral umpire to be judicious with public money. Nwosu added that elections should not continue to drain funds that could b...
Taraba governor advises Nigerian government on state police
Gov. Darius Ishaku of Taraba has advised the Federal Government to try state police in addressing the security challenges in the country. Ishaku gave the advice in his remarks at a world news conference organised by the People’s Democratic Party (PDP) at the party national secretariat in Abuja, on Monday. The conference also featured Senate Minority Leader, Sen. Enyinaya Abaribe, and former president of the Senate, Dr Bukola Saraki. According to Gov. Darius, the primary responsibility of any democratic government was to secure the people and their property. He said the state governors were going through challenges and were helpless in managing the insecurity as they have no power over security. “No matter how bad the state police, let us experiment it. After all, we have the State Electora...
Africa Data Centres to Build 10MW Facility in Nigeria
Africa Data Centres (ADC) has already begun work on its plans to construct a 10MW facility in Lagos, Nigeria. According to TechCentral, the Nigerian data centre will form “(ADC)’ West African hub” and join its network of facilities across East and Southern Africa. ADC CEO, Stephane Duproz says that the Lagos build will help spur the Nigerian economy. “The stimulus effect to the economy of digitisation is well documented and Nigeria is ready for this technology boon. Furthermore, our construction policy is to uplift the community as far as possible, employing local contractors and creating work opportunities within the communities we enter – so the job creation opportunities are realised at both grass-roots and hi-tech levels.” Africa Data Centres Joins NVIDIA DGX-Ready Data Centre Pr...
Obadiah Mailafia honours third DSS invitation
A Former Deputy Governor of Central Bank of Nigeria (CBN), Dr Obadiah Mailafia, on Monday for the third time honoured the invitation from the Department of State Security (DSS). Mailafia arrived the DSS headquarters at about 11am for another round of interrogation over an interview he granted that a sitting Governor in the north is a commander of the Boko Haram sect . The Former presidential candidate of the African Democratic Congress, ADC, in the 2019 presidential election on arrival was cheered by hundreds of his supporters who stormed the DSS headquarters. Speaking with journalists on arrival, before honouring the DSS invitation, Mailafia said “I am ready to perish for speaking the mind of millions of Nigerians over the incessant killings of innocent citizens going on presently in the ...
Oyo ADC: We’ll stand by Senator Lanlehin in whatever political decision he makes
The Oyo State chapter of the African Democratic Congress (ADC) has reaffirmed support and loyalty to its governorship candidate in the 2019 elections, Senator Olufemi Lanlehin, promising to stand by him in “whatever political decisions he makes.” The party stated this in a communiqué at the end of its meeting held in Ibadan, at the weekend, against the background of the breakdown of the coalition over non-fulfilment of the agreement reached before the election. Senator Lanlehin and Chief Sharafadeen Alli of Zenith Labour Party (ZLP) are two major governorship candidates that dropped their aspiration to support the candidature of Makinde in the election. ADC leadership, in the communiqué jointly signed by Reverend Ezekiel Adeniran and Pastor David Orolade, acting state chairman and assistan...
Edo guber: INEC closes dedicated portal for parties nominations
The Independent National Electoral Commission (INEC) on Monday says it has closed its dedicated portal designed for political parties to submit the details of their nominations for Edo governorship election. Mr Festus Okoye, INEC National Commissioner and Chairman Information and Voter Education Committee (IVEC) disclosed this in an interview with newsmen in Abuja. Okoye said that the commission did not extend the June 29 deadline fixed for the exercise, which ended at 6 p.m. on Monday. He said that the commission in line with fixed deadline and schedule of activities for the state election shut down the dedicated portal at 6 p.m. Okoye, who did not disclose the number of political parties that met the deadline, promising that the details would later be made public. “The portal for submiss...
