Sango
Central African Republic court says new $60,000 citizenship-by-crypto-investment program is unconstitutional
According to Reuters, the Constitutional Court of the Central African Republic (CAR) said on Monday that the purchase of citizenship, e-residency and land using its government-backed Sango digital currency is unconstitutional because a nationality has no market value. Earlier in July, the CAR unveiled its Sango crypto hub to attract global crypto talent and enthusiasts, boost Bitcoin (BTC) adoption and implement new crypto regulatory frameworks. The Sango blockchain is built on top of the Bitcoin blockchain, similar to a layer-2 solution. Part of the program includes a citizenship-by-investment program, where foreign nationals can effectively purchase citizenship in the CAR for $60,000 in crypto, with an equivalent amount of Sango tokens held as collateral and returned...
Sango crypto hub goes live in the Central African Republic
The Central African Republic (CAR) has launched its new government-backed Sango crypto hub initiative to foster the development of the local digital asset sector. The Sango project follows the CAR’s adoption of Bitcoin (BTC) as legal tender in April. The initiative aims to attract businesses and global crypto talent/enthusiasts, ramp up local BTC adoption and oversee the rollout of crypto regulatory frameworks and infrastructure. A metaverse platform dubbed The Crypto Island and Sango Coin is also in the works. Speaking at the launch event on Sunday, President Faustin-Archange Touadéra outlined the vision for Sango is to have a “common cryptocurrency and an integrated capital market that could stimulate commerce and sustain growth.” One of the key points President Touadéra emphasized was f...
World Bank won’t support Central African Republic’s Sango crypto hub
The World Bank has signalled its concerns over the Central African Republic (CAR) adopting Bitcoin (BTC) as a legal currency and says it won’t support the newly announced “Sango” crypto hub. At the end of April CAR president Faustin-Archange Touadéra established a regulatory framework for cryptocurrency in the country and adopted Bitcoin as a legal tender. On May 24 he announced a plan to launch the country’s first crypto hub called “Sango”. Sango is described as the country’s first “Crypto Initiative” — a legal hub for crypto related businesses encompassing economic policies including no corporate or income tax and thecreation of a virtual and physical “Crypto Island.” An official document outlining the Sango project states that the country “received approval for a $35 million development...
Troop arrests 23 ‘bandits’ in Plateau
The Operation Safe Haven also known as the Special Task Force (STF) has arrested 17 suspected kidnappers and five Armed robbers for attempted kidnapping and robbery in at Lishin village, in Pengana Chiefdom in Bassa and Lamingo in Jos North Local Government Areas of Plateau State. Commander, Operation Safe Haven, Major General Dominic Onyemulu stated this while parading the suspects at the Command headquarters in Jos and vowed to make his area of operation uncomfortable for kidnappers and other criminal elements. “On the 16 of March, troops of Operation Safe Haven responded to a distress call on an attempted kidnap of one Alh. Gambo Yawurp from his residence at Lishin village in Pengana Chiefdom Bassa LGA. “Troops in collection with vigilante members and locals foiled the attempt kidnappin...
Coronavirus takes toll on federal roads’ construction in Lagos
The ravaging effect of Coronavirus (COVID-19) was, perhaps, the biggest challenge faced by stakeholders in the road sub sector of the construction industry in 2020. As the virus gained ground, several contractors soon abandoned work and shut their operations, consequently, many hitherto gainfully employed Nigerians were thrown into the labour market. Even when the government later introduced partial lockdown measures, the number of workers on site was scaled down by many contractors in line with COVID-19 protocols, which slowed down progress of work. Virtually all road projects in Lagos State suffered the effect of the pandemic, with every project having its own peculiar challenge. The reconstruction of 46km Agbara-Seme section of the Lagos-Badagry Expressway project awarded to CGC Nigeria...
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...
Ekiti court imposes N40,000 fine on man for not wearing face mask
An Ado-Ekiti Magistrates’ Court in Ekiti State has fined a man, Ikechukwu Vincent, N40,000 for contravening the order on the use of face mask in the state. It will be recalled that governors in South-West agreed on mandatory use of face masks by residents as part of measures in containing the spread of coronavirus. Director of Public Prosecutions in the state, Julius Ajibare, told the court that the suspect committed the offence on Friday around Fajuyi park in Ado-Ekiti, the state capital. The charge read: “That you, Vincent Ikechuckwu, at about 11.00 a.m. on the 8th day of May, 2020 at Fajuyi, Ado-Ekiti magisterial district did without lawful excuse move without wearing a face mask thereby violating the provisions of Regulations 4 (2) (a) punishable under Regulation 12 of the Ekiti State ...
Ogun PDP gets new executive committee
File Photo The crisis rocking the Peoples Democratic Party (PDP) in Ogun State, deepened on Friday, as the faction loyal to Senator Buruji Kashamu, inaugurated its new state executive members to steer the affairs of the party for the next four years. The oaths of office which was done in batches of 15 persons were administered by a lawyer and notary public, Victor Owokoya and Oluwatoyin Omomehin, respectively. The inauguration, ceremony which took place at the State Party Secretariat in Abeokuta, also saw the new exco members getting cars from the Omo-Ilu Foundation, courtesy Senator Buruji Kashamu. Ogun PDP had been enmeshed in a battle of supremacy between the loyalists of Kashamu and party faithful loyal to a former House of Representatives member, Oladipupo Adebutu. Speaking with newsm...
