On Friday, Assembly, a decentralized layer one smart contract network built within the Iota ecosystem, announced it had raised $100 million from private investors, including LD Capital, HyperChain Capital and Huobi Ventures. The project stated that the funds will be used to accelerate the development of decentralized finance protocols, nonfungible tokens (NFTs) and play-to-earn crypto games. Iota is a blockchain designed for facilitating Internet-of-Things transactions. Its proprietary technology consists of a system of decentralized acyclic graphs that can connect to one another in multiple vectors as opposed to in-series as with a regular blockchain. As a result, one new block can validate two other blocks, leading to self-sustainable transaction verification. This allegedly leads to the...
The Lagos House of Assembly has commenced an audit exercise for all the 20 Local Government Areas (LGAs) and the 37 Local Council Development Areas (LCDAs) in the state. The Chairman, House Committee on Public Account (Local), Mojeed Fatai, made this known in a statement issued in Lagos on Saturday. Fatai said that the committee was expected to submit its report to the House after the weeklong exercise. The lawmaker explained that the exercise was aimed at checking probity and accountability in the local government administration as provided in the 1999 (Amended) Constitution. He said: “The essence of the exercise is to allow the committee go through the 2019 report of the Auditor General without fear or favour to any local council indicted by the officials of the Auditor General. “Also, t...
The Speaker of the House of Representatives, Femi Gbajabiamila, has called for collaboration between the National Assembly and the 36 state Houses of Assembly to make the ongoing review of the 1999 Constitution successful. Gbajabiamila, who spoke at a meeting of the Conference of Presiding Officers of Nigerian Legislatures in Abuja at the weekend, noted that the constitutional amendments are to address Nigeria’s foundational problems. The Speaker also stated that the legislature remained the most important arm of government in any democratic setting, according to a statement issued on Saturday by his Special Adviser on Media and Publicity, Lanre Lasisi, titled ‘Constitution review: Gbajabiamila Seeks Collaboration Between NASS, State Assemblies…Says Legislature Remains Most Important Arm o...
In a bid to regulate the activities of herdsmen and the rearing of livestock in the state, the Ondo State House of Assembly has passed into law the anti-open grazing bill. The House also passed into law the bill on the autonomy of the judiciary and the bill on violence against persons prohibition. The bills were passed after the chairmen of three committees submitted their reports on the bill. The plenary session of the Assembly, held on Thursday, was presided over by the Speaker, Mr Bamidele Oloyeloogun. Speaking on the bills at the session, the committee chairmen remarked that the bills were in the best interest of all citizens of Ondo State. On the anti-open grazing bill, Mr Taofik Mohammed of the House Committee on Agriculture explained that the bill was to regulate rearing and grazing...
A Kaduna High Court on Thursday, fixed July 28 for ruling in the No-case-submission filed by the leader of the proscribed Islamic Movement in Nigeria (IMN), Ibrahim Zakzaky and his wife Zeenat. Justice Gideon Kurada fixed the date after the prosecution and counsel to the defendants, addressed the court on the no case submission prayer. Mr Femi Falana, SAN, and lead counsel to El-Zakzaky, who spoke to reporters shortly after the adjournment, prayed the Court to rule in favor of his clients. “The prosecution and the defence addressed the court on the the no-case-submission prayer. ” We did indicate last time that even though the prosecution called 15 witnesses, we felt that no case has been established to warrant our clients being in court. ” In other words, we addressed the court that there...
Governor Bello Matawalle of Zamfara has officially defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC). Matawalle announced his defection to APC in Gusau on Tuesday at a special grand rally to receive him to the party, organised by the National Caretaker Committee of the APC led by Governor Mai-Mala Buni of Yobe. “As from today, I Bello Matawallen Maradun, governor of Zamfara, I am happy to announce my defection from the PDP to the APC. “As from today, I am a full APC member and leader of APC in Zamfara. “I am calling on all APC stakeholders in the state to join hands with me to build the party and move the state forward,” Matawalle said. Earlier, Buni had described Matawalle’s defection as a welcome development to the APC not only in Zamfara but in Nige...