Losses
Alameda wallet under liquidator control incurred $11.5M in losses: Arkham
The liquidators of Alameda Research have reportedly incurred at least $11.5 million in losses since taking control of Alameda’s trading accounts. On Jan. 16, a Twitter thread from Arkham Intelligence reported that one wallet under the control of liquidators has seen a string of “significant losses” due to liquidations, some of which were “preventable losses.” Over the past two weeks being under Liquidator control, the account incurred significant losses: Largest single liquidation: $4.85MTotal liquidated amount: $11.5MPreventable losses: $4M+ — Arkham (@ArkhamIntel) January 16, 2023 As one example, Arkham noted that the account ending 0x997 initially had a short position of 9,000 Ether (ETH) ($10.8 million) against the collateral of $20 million in USD Coin (US...
Lagos governor asks security agencies to crush criminals
Lagos State Government has tightened the noose on criminal elements, as Governor Babajide Sanwo-Olu fortifies the armoury of the State Police Command with new hardware and gadgets. One hundred and fifty units of double cabin vehicles, 30 patrol saloon cars, four high-capacity troop carriers and two anti-riot water cannon vehicles are part of the crime-fighting equipment donated to the police, yesterday, by the Lagos Government to strengthen security responses across the state. President Muhammadu Buhari took inventory and inaugurated the security equipment before Governor Sanwo-Olu handed over the gears to the Inspector-General of Police (IG), Mr. Alkali Usman, for the use of Lagos Police Command. The equipment and gadgets were procured through the Lagos State Security Trust Fund (LSSTF) –...
Katsina governor: Kebbi boat mishap a major national tragedy
Governor Aminu Bello Masari of Katsina State, has said that the recent boat mishap in Warrah, in Ngaski Local Government of Kebbi State was a major national tragedy . Masari stated this on Sunday, in Birnin Kebbi, when he led a high powered delegation, for the condolence and commiseration visit to Kebbi state Governor, Senator Abubakar Atiku Bagudu. ”The tragic incident had consumed the lives of over 100 persons and in Nigeria, just like in other climes, tragedies of such disturbing magnitude call for national mourning and concerns. ”That is why we are here ,on behalf of government and people of Katsina State, to express our deepest condolences and commiseration to the families of the victims, people and Government of Kebbi State,” he said. Masari also expressed hope that,the deceased have...
Sri Lanka launches probe after burning ship pollutes beaches
Sri Lanka launched a criminal probe on Sunday into a huge container ship fire that has swamped the island nation’s coast with plastic pollution causing probably one of its worst marine disasters in history. Tonnes of microplastic granules have inundated the South Asian country’s famed beaches in Negombo, a popular tourist destination, forcing a fishing ban and prompting fears of ecological damage. The Singapore-registered MV X-Press Pearl has been smoldering on the horizon for 11 days after a blaze broke out as it was heading to Colombo from the Indian state of Gujarat. The 25-member crew, who have already been evacuated from the ship, will be questioned on Monday after a complaint was lodged by Sri Lanka’s Marine Environment Protection Authority, police said. Last week, authorities said t...
Kaduna paralysed as NLC begins warning strike
Activities in Kaduna State have been paralysed as the five-day warning strike directed by the Nigeria Labour Congress (NLC) over irregular sacking of civil servants began on Monday. Checks revealed that schools, banks and other business premises had been closed. The National Union of Banks, Insurance and Finance Institutions Employees had directed its members to withdraw banking and insurance services in Kaduna state from Monday 17. The Zonal State Secretary of the union, Mr Adamu Danladi explained that the directive followed the NLC’s warning strike in response to what he described as Gov. El-Rufai’s “anti-workers policies”. He said that the withdrawal of services would continue until otherwise directed by the congress. Also, while some schools were closed, others were open but only a few...
Myanmar anti-coup fighters retreat from town as U.S. makes appeal
Fighters of a local militia opposed to Myanmar’s junta have pulled back from the northwestern town of Mindat after days of assault by combat troops backed by artillery, a member of the group said on Sunday. The United States and Britain called on the army to avoid civilian casualties and a shadow National Unity Government formed by loyalists of Myanmar’s detained elected leader, Aung San Suu Kyi, appealed for international help. A spokesman for the junta did not answer calls for comment. The fighting in the hill town of Mindat, about 100 km (60 miles) from the Indian border in Chin state, is some of the heaviest since the coup plunged Myanmar into chaos with daily protests, strikes and the emergence of new local militias. “To avoid confrontation, we retreated out of concern over damage to ...
World Bank to construct 13.16km Lagos farm roads
Lagos State Government says its World Bank-assisted Agro-Processing, Productivity Enhancement, Livelihood Improvement Support (APPEALS) Project will construct 13.16km Farm Access Roads (FARs) in four cluster areas. The state Commissioner for Agriculture, Ms Abisola Olusanya, said this on Thursday during the activities to commemorate the second year of Gov. Babajide Sanwo-Olu’s administration. Olusanya noted that the four farm cluster areas were Igbodu in Epe, Araga also in Epe, Erinkorodo in Ikorodu and Afowo in Badagry. She said the access roads when completed would ensure smooth movement to and fro the farms. Olusanya added that it would reduce losses encountered by egg farmers as a result of the bad road. The commissioner said it would also improve productivity of the concerned farmers....
Gani Adams condoles with Pastors Adeboye, Abina over sons’ deaths
File Photo The Aare Onakakanfo of Yorubaland, Iba Gani Adams, has described the demise of the sons of the General Overseers (GOs) of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, and that of Gospel Faith Mission International (GOFAMINT), Pastor Elijah Abina, as huge losses, adding that God was surely unquestionable in all respects. Adams, who had earlier sent a letter of condolence to Adeboye, in a statement by his Special Assistant on Media, Kehinde Aderemi, expressed shock that the shining light of the young Adeboye went dim when his spiritual strength was needed most. “I was short of words when the news broke out that we lost Pastor Oluwadare Adeboye. It is one loss too many and I feel pained that we lost the younger Adeboye at such a time when he was still active i...
Lagos: Seven die in auto crash on Lekki-Epe Express road
At least seven people have been confirmed dead in an accident that occurred on Saturday afternoon at the Lekki-Epe Express Road, Lagos. The crash involved a Lexus SUV with registration number: AGL953GQ, which ran into a moving Howo truck with registration number ICT-15E-025, killing all occupants in the Lexus SUV. A total of seven adults, comprising two males, five female, lost their lives in the crash. The Lagos Sector Commander of The Federal Road Safety Corps (FRSC), Corps Commander Olusegun Ogungbemide, confirmed the death in a statement. He said that auto crash occurred on the Lekki-Epe Expressway at Shapati (Fragend) around 1 pm and claimed the lives of seven youths. Mr Ogungbemide, who blamed the accident on drunkenness, advised motorists to drive safe and avoid drunk driving. In th...
Namibian president caught in new fishing corruption allegations
Informante The president of Namibia has been implicated in new allegations of corruption involving the country’s lucrative fishing industry by an investigation released by the Organized Crime and Corruption Reporting Project (OCCRP) and The Namibian newspaper. According to a lawyer who allegedly arranged the deal, President Hage Geingob instructed his close associates to embezzle millions of dollars from a state-run fishing enterprise in order to bribe electors at the 2017 congress of the ruling SWAPO (South West Africa People’s Organization) party, reports the new investigation released on Friday. The lawyer, who is not named by the OCCRP, claims that Hage Geingob – elected as President of Namibia in 2014 and re-elected in 2019 – allegedly asked James Hatuikulipi, then chairman of the sta...
UN projects Nigeria’s GDP to expand by 1.5 percent
Nigeria’s gross domestic product (GDP) is projected to expand by 1.5 per cent this year, after a contraction of 3.5 per cent in 2020, a United Nations (UN) report said on Wednesday. In the latest World Economic Situation and Prospects report, the UN noted, that tighter foreign exchange (forex) liquidity, mounting inflationary pressures and subdued domestic demand clouded the medium-term outlook. Although last year, the global economy shrank by 4.3 per cent, this year’s projected recovery of 4.7 per cent will barely offset the losses of 2020, according to the report. The World Economic Situation and Prospects 2021 is a report produced by the UN Department of Economic and Social Affairs (DESA), in partnership with the UN Conference on Trade and Development (UNCTAD), and the five UN regional ...
Commodities trading: SEC issues new rules on warehousing, collateral management
File Photo In a bid to ensure a vibrant commodities trading ecosystem, which would in turn boost foreign exchange earnings for the country, the Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management, among others. According to the rules, every warehouse that stores commodities to be traded on a registered exchange shall apply to be registered by the SEC, while the commission shall maintain a register of all registered warehouses to be published on its website. The new rules also provide that any warehouse applying for registration shall submit proof of ownership or registered-lease deed or rent agreement, alongside a disclaimer from the owner of the warehouse/property providing waiver of ownership regarding commodities stored in such ...
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