Basis
Here’s why Ethereum traders could care less about ETH’s current weakness
Since hitting an all-time high at $4,870 on Nov. 10, Ether (ETH) price has been posting lower lows over the past 50 days. If this downtrend continues, the lower trendline support suggests that the altcoin will bottom at $3,600. Still, derivatives data is signaling that pro traders are not concerned about the seemingly bearish market structure. Ether/USD price on FTX. Source: TradingView Notice how the price peaks are getting lower on the 12-hour time frame as mounting regulatory concerns drive investors away from the sector. In a press conference on Dec. 17, Russia’s Central Bank governor, Elvira Nabiullina, stated that banning crypto in the country is “quite doable.” Nabiullina cited crypto’s frequent use for illegal operations and significant risks for retail inve...
Court remands father for ‘giving out 12-year-old daughter in marriage’
A Family Court in Ilorin, on Monday, ordered the remand of one Oyefeso Saheed in Oke-Kura Correctional Centre, Ilorin, for allegedly giving out his 12-year-old daughter in marriage. Magistrate Shade Lawal also ordered the remand of the victim’s purported husband, Ismail Lawal, 32, before adjourning the case till Wednesday, for further mention. Earlier, the Prosecutor, Sgt. Akinjide Adisa, said that the matter was reported at Adewole Police Station by Aishat Temem, a member of the state branch of the International Federation of Women Lawyers (FIDA). He said that the matter was reported after the complainant had received a call from the victim’s school principal. The prosecutor also told the court that the purported husband gave the victim a HP laptop as bride price for the ‘marriage’. He th...
INEC promises to train Malawian electoral body on delineation, creation of polling units
The Independent National Electoral Commission (INEC) has promised to teach its Malawian electoral commission counterpart the tricks it used in the delineation of constituencies and creation of polling units. Speaking when his Malawian counterpart, Justice Chifundo Kachale, led a delegation on a courtesy visit on him in Abuja on Thursday, National Chairman of INEC, Prof Mahmood Yakubu, said he understand that the Southern African country is also faced similar challenges Nigeria had previously. He announced to the delegation that the Commission is currently undergoing a historic voter registration exercise, emphasizing: “We are also doing the voter pre-registration online, which will now be completed physically in person at designated centres nationwide. So you are coming at the right time. ...
PANDEF cautions Nigerian government over Nnamdi Kanu, Sunday Igboho, others
The Pan Niger Delta Forum (PANDEF) has cautioned the Federal Government over some of its recent actions, warning that the government should consider the consequences of treating with contempt, the 16-Point Agenda it presented to President Muhammadu Buhari in November 2016. The group also condemned the midnight raid on the house of Yoruba Nation agitator, Sunday Adeyemo, popularly called Sunday Igboho and cautioned the Government’s plan to identify the sponsors of the rearrested leader of the Independent People of Biafra (IPOB), Nnamdi Kanu. The socio-cultural organization said the action of the government has caused the Niger Delta youths to declare a vote of no-confidence on PANDEF because it was the leaders of the region that requested them to stay action when they took a decision to cri...
Senator backs Nigerian government on grazing routes
The Chairman, Senate Committee on Agriculture, Senator Abdullahi Adamu, has asked the Federal Government to go ahead with its plan to recover the old cattle grazing routes because herdsmen activities affect every part of the country. Adamu, who also served as a two-time governor of Nasarawa State, disagreed with those who argued that the Federal Government should not dabble into grazing issues because it had no constitutional powers to do so. The Senator, who spoke with newsmen in Abuja, said herdsmen needed the cattle routes because of the challenges they usually faced when they wanted to adopt other forms of transportation. He said the Federal Government should attend to the welfare of herdsmen just as it was providing basic amenities for others involved in private businesses across the ...
Petrol smuggling: Nigerian government using device to track trucks, smugglers
The Federal Government says it has facilitated the use of a tracking device to track every truck loading petroleum product from any of its depots as part of efforts to nip smuggling in the bud and arrest culprits. Minister of State for Petroleum Resources, Chief Timipre Sylva, said this at a forum organised by the News Agency of Nigeria (NAN) to gauge the achievements recorded in the oil and gas sector in the last two years. Sylva noted that a lot had been achieved in the industry but that the activities of smugglers had continued to overshadow the successes especially as it concerned fuel subsidy and the quantity of petroleum products consumed in the country. “This is one big question that we try to answer ourselves because when we look at the number of load-outs from our depots every day...
Appeal court president inaugurates special court sitting 270 cases in Jos
The President of the Court of Appeal, Hon Justice Monica Dongban-Mensem, has organised a special court sitting in Jos where about 270 Motions and Appeals would be addressed for quick dispensation of justice. Justice Dongban-Mensem disclosed this on Monday during the inauguration of the special court sitting, held at the Court of Appeal Jos Division, Plateau State. She noted that the essence of the special sitting was to ensure quick dispensation of justice over motions and Appeals that have not been heard. She described the special sitting which started from Abuja, Lagos and Jos as apt and said any Court of Appeal Division that apply for the special court sitting would be given the opportunity. Dongban-Mensem applauded the Chief Judge of Plateau State, Chief Judge of Federal High Court and...
House speaker: APC must be committed to its manifesto to succeed
The speaker of the house of representatives, Femi Gbajabiamila, says the All Progressives Congress (APC) must be committed to its manifesto for it to succeed in governance. Gbajabiamila said members of the party must also not forget that they will answer for “what we have done with our time in government”. A statement from Lanre Lasisi, the speaker’s spokesman, quoted him as saying this at the progressives youth conference organised by the APC in Abuja on Monday. He described manifestoes as “statements of vision and vision is the foundation of all achievements.” “For a nation such as ours to succeed, we must first define a common vision that will inspire us, bring us together, and provide the focus that allows us to persevere through the inevitable difficult times,” the speaker said. “As i...
CDHR calls for release of abducted Ebonyi children
Committee for the Defence of Human Rights (CDHR) has urged the police and sister agencies to secure the unconditional release of the seven Ebonyi children abducted by suspected hoodlums at Enyigba community. The children were abducted from their respective homes at Enyigba community in Abakaliki Local Government Area (LGA) of Ebonyi by unknown persons, following alleged renewed conflict over a land dispute with Enyibichiri community in Ikwo LGA. A statement signed by the state secretary of CDHR, Jeremiah Oyibe, on Tuesday in Abakaliki, urged the police to ensure the safe and unconditional release of the seven abductees. The CDHR added that the police and the state government should ensure the arrest and trial of those involved in the criminal abduction of innocent children. The group expre...
Ondo governor: Why Amotekun will transform into state police
Governor Oluwarotimi Akeredolu of Ondo State on Saturday said that the State Security Network codenamed Amotekun Corps would eventually transform into a State Police overtime. Akeredolu, who insisted that every federating unit in the country should have its own police for effective security, noted that there was no serious attempt to redesign the nation’s security architecture to respond to the demands of a nascent country at the time of independence. Speaking at the 2021 Democracy Day lecture held in Akure, the state capital, the governor also said that he does not believe in secession. At the event held at the International Event Centre (DOME), Akeredolu said the local government could not be absolutely autonomous and that the Federal Government should have no control, whatsoever, over h...
Canada’s premier says he discussed border with Joe Biden, but no deal
Canadian Prime Minister Justin Trudeau said on Sunday he has spoken with U.S. President Joe Biden about how to lift pandemic-related border restrictions between the two countries but made clear no breakthrough has been achieved. U.S. and Canadian business leaders have voiced increasing concern about the ban on non-essential travel in light of COVID-19 that was first imposed in March 2020 and renewed on a monthly basis since then. The border measures do not affect trade flows. The border restrictions have choked off tourism between the two countries. Canadian businesses, especially airlines and those that depend on tourism, have been lobbying the Liberal government to relax the restrictions. Canada last week took a cautious first step, saying it was prepared to relax quarantine protocols fo...
Zambian court throws out second challenge to president’s re-election bid
Zambia’s Constitutional Court ruled on Friday that President Edgar Lungu can stand for re-election in August, throwing out a second opposition challenge to his eligibility on the basis of the constitutional two-term limit. The ruling comes as Zambia faces a multipronged economic crisis, after overleveraging its debt right before the brutal global COVID-19 shutdown. The crisis has triggered Africa’s first pandemic-era sovereign default and driven the southern African country to seek emergency IMF help. Lungu’s first term in office lasted a year and six months, when he took over after the death of the previous elected president, Michael Sata. He then won an election in a disputed vote in August 2016. Since this is technically his second term, the opposition had argued that he is no longer el...
