A train on motion has on Monday, reportedly had a head-on collision with a truck.
The incident occurred at about 8.52 am at Mofolasayo Drive, Jonathan Coker Road Level Crossing, Iju/Ishaga, Lagos.
It could not be ascertained if casualties were recorded at the scene but it was gathered that law enforcement officials were on ground.
Eyewitnesses’ account said the incident has disrupted the free flow of traffic in the axis as motorists have been advised to seek alternative routes.
The Securities and Exchange Commission (SEC) of Nigeria has put a hold on its cryptocurrency regulatory plans following the recent ban on financial institutions from providing cryptocurrency exchange services to central banks.
“For the purpose of participating in the’SEC Regulatory Incubation Framework’, the assessment of all persons (and products) subject to the Central Bank of Nigeria’s Directive dated February 5, 2021 states that such persons are Nigerian banks. It will be held until the system can handle bank accounts. “
The committee approved digital assets in September 2008. The SEC then announced that it would build a “sandbox” of cryptocurrency regulation as part of its efforts to fully regulate the market.
For the SEC, the statement is in response to stakeholder inquiries regarding the policy contradictions believed to lie between the September announcement and the central bank directive. According to the committee, the proposed sandbox of regulations on non-cryptocurrency fintech companies focusing on capital markets will continue as planned.Broker of the monthInvestousTest Investous Now
The central bank’s reaction to the ban on cryptocurrencies has diverged national and geopolitical boundaries, and progressive factions seem to be more willing to oppose the move. The central bank has described the move as a measure to prevent the use of cryptocurrencies by criminal organizations in Nigeria.
CBN’s actions have outraged the country’s legislature, as only Nigeria’s parliament or senate can pass laws.
Nigerian Congressman Solomon O. Adeola believes that such a ban is too drastic a measure for crypto assets. Cryptocurrencies are regulated all over the world, so the CBN must develop clear rules to control this activity. The Senate emphasized the need to “sit down at the negotiating table” with regulators so that each agency can state its own position on cryptocurrencies in Nigeria. Many congressmen take the same position.
Senator Sani Musa said Bitcoin has stripped Nigerian naira of value, rendering it useless. He noted that cryptocurrency transactions take place all over the world, and due to their confidential nature, it is difficult to determine the owner of digital assets. The newest technologies are so powerful that it is unclear how they should be regulated. However, this must be done. If Nigeria’s regulators are unable to control crypto assets in such a weak economy, then it is not clear what the country will be like in a few years, Musa said. Senator Biodun Olujimi also believes cryptocurrencies will help boost Nigeria’s economy.
“We didn’t create cryptocurrency, so we cannot eliminate it. We cannot escape her influence. The cryptocurrency industry is developing with good results. Nigeria is unable to insure itself against it. You just need to make sure that crypto assets are not used to harm. The time has come to agree on all issues related to cryptocurrencies,” Oluzhimi said.
Former President, Olusegun Obasanjo has cautioned African countries not to allow agric-business and manufacturing sectors to degenerate as they battle the COVID-19 pandemic.
He gave the advice in the latest issue of ACCORD 2021 series of the COVID-19 Conflict and Resilience Monitor.
In a statement by his spokesman, Kehinde Akinyemi, on Sunday, the former leader urged the continent to find home-grown solutions to bounce back from the economic devastations caused by the crisis.
Obasanjo said if regions of the world that have been heavily infected and affected by COVID-19 are able to implement measures to recover, Africa must do the same by learning from their experience.
“Agri-business and manufacturing, by and large, have not been severely impacted upon by COVID-19. We must take advantage in parts of Africa, which enjoy good rainfalls, to ensure that we do not relax in our efforts to sustain our agri-business.
Obasanjo said COVID-19 has taught the world to be self-reliant in food and nutrition and in essential agribusiness implements and domestic appliances.
“We must be able to feed ourselves. Africa should save $44 billion being spent on importation of food annually”, the ex-President added.
On trade, he stressed that the pandemic has only delayed, but not derailed the operationalisation of the African Continental Free Trade Area (AfCFTA).
Observing that COVID-19 has opened up opportunities to use online platforms and modern technologies to communicate, he said safety measures have restricted movement of goods and people, as well as physical and personal contact.
Obasanjo said the delay provides an opportunity to do the extra hard work that requires some time so that when AfCFTA goes into operation, it would be in full force.
“I genuinely believe that nothing will happen that would derail the full implementation of AfCFTA. If anything, Africa must use this situation to fully prepare itself for the operationalisation once most of these restrictions are lifted”, he counselled
Ngozi Okonjo-Iweala, a Nigerian economist and former finance minister, is poised to become the first woman and first African to lead the World Trade Organization, when the members of the global trade body meet on Monday to consider her candidacy for director general.
The appointment would remove a key obstacle to the functioning of the World Trade Organization, which has been leaderless during a time of growing protectionism and global economic upheaval brought about by the pandemic. But even with Dr. Okonjo-Iweala at the helm and the renewed support of the Biden administration, the World Trade Organization, which was founded in 1995 to ensure that trade flows as smoothly and freely as possible, will face steep challenges surrounding its effectiveness as the world’s trade arbiter.
Trade negotiations, including an effort to restrain harmful subsidies given to the fishing industry, have dragged on without resolution. A key part of the organization for settling trade disputes, called the appellate body, remains crippled after the Trump administration blocked appointments of new personnel. And there are deep divisions over whether rich and poor countries should receive different treatment under global trade rules.
There is also growing consensus that the World Trade Organization has failed to police some of China’s worst economic offenses, which many in the United States consider the world’s biggest trade challenge today. And there is deep uncertainty about whether the group can be overhauled to address those shortcomings.
There are a lot of issues that are begging for reform,” said Wendy Cutler, a former U.S. trade negotiator and a vice president at the Asia Society Policy Institute. She said that the Biden administration’s support for Dr. Okonjo-Iweala could be “an easy way to gain good will and get everyone focused on the important substantive issues.”
The Trump administration spent the last four years mostly criticizing or ignoring the World Trade Organization, ultimately weakening the institution by carrying out its most prominent trade policies outside of its boundaries. Rather than working with the World Trade Organization, President Donald J. Trump took on trading partners like China and the European Union one-on-one, deploying hefty tariffs that those governments argued contravened the W.T.O.’s rules.
President Biden is likely to take a very different approach. He has criticized Mr. Trump for alienating allies and weakening the multilateral system, and is expected to make the United States a more active player in international groups including the World Trade Organization.
That includes supporting the organization’s new leadership. On Feb. 5, the Biden administration announced it would support Dr. Okonjo-Iweala, reversing efforts by the Trump administration to block her candidacy.
The former director general, Roberto Azevêdo, announced last May that he would leave the job a year early and departed in August. While the vast majority of the organization’s members supported Dr. Okonjo-Iweala to replace him, Trump administration officials, particularly the former trade representative Robert E. Lighthizer, had criticized her lack of trade experience, and supported the South Korean candidate, the trade minister Yoo Myung-hee, instead.
On Feb. 5, Ms. Yoo withdrew from the race.
The United States stands ready to engage in the next phase of the W.T.O. process for reaching a consensus decision on the W.T.O. director general,” the Office of the United States Trade Representative said in a Feb. 5 statement. “The Biden administration looks forward to working with a new W.T.O. director general to find paths forward to achieve necessary substantive and procedural reform of the W.T.O.”
A State High Court in Benin City, Edo Sate, on Friday, sentenced a police constable, Joseph Omotosho, to death for conspiring with four other constables, said to be at large, to kill a car dealer in 2015.
The slain car dealer, Benson Obodeh, was suspected by the police to belong to a criminal gang.
Mr Omotosho, who was dismissed from the Nigerian police after the incident, served with the defunct Special Anti-Robbery Squad (SARS), a police unit that was notorious for its brutality and other forms of human rights abuses.
The four other dismissed constables were also convicted but not sentenced because they were not present in the court.
They were identified as Adeleke Adedeji, Abena John, Oniyo Musa, and Henry Shobowole.
The four were said to have escaped while on trial from one of the Medium Security Correctional Centres in Benin City during the October, 2020 jailbreaks.
The judge, Ohimai Ovbiagele, found all the accused persons guilty on an eight-count charge, which included conspiracy to steal and murder.
From the court proceedings, the slain Mr Obodeh, 26, a Benin-based car dealer, was listed as a member of a criminal gang who allegedly stole a Peugeot car in Lagos.
He was said to have been arrested at his home in Benin City on May 21, 2015 and tortured to death the same day by the five police officers.
The Emir of Bauchi, Dr Rilwanu Suleiman Adamu, has declared that Nigeria needs divine intervention to save it from an impending crisis over the current herders’ issue.
The first class royal father stated this when he received the Yoruba community in Bauchi State in his palace on Saturday, emphasizing the need for peaceful coexistence among all ethnic groups in the country.
Adamu appealed to Nigerians irrespective of their religious affiliations to turn to God in this trying period and seek His divine intervention, expressing the belief that Allah would solve the problem which is currently putting the country’s existence on the line.
The traditional ruler advised politicians, especially political office holders to be mindful of what they say on the issue with a view to not escalating the issue beyond what it is now.
The Emir declared that Nigerians were related one way or the other through various means and submitted that to sever such a relationship now would be very difficult.
While calling on the Yoruba people in the state to continue to live in peace and harmony with their host communities, the royal father said they had become part of the state.
“You have become part of the place you are; you have married and given out your daughters in marriage. You are, therefore, part of here,” the Emir told his visitors.
Speaking earlier, the Ọba Yoruba of Bauchi, Tirimisiyu Adegoke, appealed to the Emir to be in the forefront in mobilising traditional rulers across the country with a view to preaching peace and peaceful coexistence among the different ethnic groups in Nigeria.
Adegoke assured the Emir that the Yoruba people resident in Bauchi State are not only law-abiding but also peace-loving citizens working hard to earn legitimately in the state, adding that the Yoruba community would not do anything to breach the existing peace in the state
The highlight of the visit was the formal introduction of the new leaders of the Yoruba community by Adegoke to the Emir.
Chairman, Senate Committee on Army, Senator Ali Ndume has said that Senate Joint Committee on Defence, Army, Navy and Air Force may start the screening of the newly nominated Service Chiefs this week.
Senate President, Ahmad Lawan, on Wednesday, referred the request of President Muhammadu Buhari seeking the confirmation of the new service chiefs for appointment to the Senate Joint Committees on Defence, Army, Navy and Air Force for further legislative work.
Lawan, gave the committees two weeks to carry out their assignments and report back to plenary.
The newly nominated Service Chiefs are: Maj. Gen. Lucky Eluonye Onyenuchea lrabor as Chief of Defence Staff; Maj. Gen. Ibrahim Attahiru (Chief of Army Staff); Rear Admiral Awwal Zubairu Gambo, (Chief of Naval Staff); and Air Vice Marshal Isiaka O. Amao as Chief of Air staff.
They are to replace the former Chief of Defence Staff, General Abayomi Olonisakin; Chief of Army Staff, Lt-Gen. Tukur Buratai; Chief of Naval Staff, Vice Admiral Ibok Ete Ibas and Chief of Air Staff, Air Marshal Sadique Abubakar.
While responding to a question, Ndume said: “It is not advisable to screen service chiefs in the open.
“If you do, it means you will be compromising the security of the country especially if there are issues that borders on national security.”
He said the Service Chiefs would be screened this week since the joint committee was given only two weeks to submit its report.
“We have been given two weeks so it will definitely be done next week and we shall keep you informed,” Ndume said
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit asking the Federal High Court, Abuja, to stop President Muhammadu Buhari from implementing “draconian and unlawful provisions” of the Companies and Allied Matters Act (CAMA) 2020.
The Act allows the Federal Government to arbitrarily merge a new association with an already registered association; suspend and remove trustees of any association or take over funds belonging to any association.
Joined in the suit as defendants are the Attorney General of the Federation and Minister of Justice Abubakar Malami, and the Corporate Affairs Commission (CAC).
In the suit number FHC/ABJ/CS/172/2021 filed last Friday, SERAP is seeking an order stopping the trio from implementing the CAMA Act of 2020.
The organization recalled its letter to Buhari in August 2020, which requested him to revoke his assent and return it to the National Assembly for a repeal of sections 839, 842, 843, 844 and 850 contained in Part F.
The suit filed by SERAP lawyers Kolawole Oluwadare and Opeyemi Owolabi argued that everyone has the right to freely associate and that no one can be imposed on the other.
The suit insists the Nigerian Constitution of 1999 (as amended), the International Covenant on Civil and Political Rights, and the African Charter on Human and Peoples’ Rights guarantees the right to freedom of association.
It warned that allowing the defendants to arbitrarily merge two or more private associations, religious associations, charities, NGOs or professional bodies, would blatantly violate their fundamental human rights.
“Section 842(2)(a)(b)(5)(6) of CAMA 2020 violates the right of these associations and other Nigerians to property including the right to operate their bank accounts and use their funds the way they choose to subject to already existing banking regulations and practices”, it read.
SERAP is also seeking an order of injunction restraining the CAC and others from implementing sections 831, 839, 842, and 850 pending the hearing and determination of the suit
The caretaker committee chairman of the All Progressives Congress, APC, in Enugu State, Dr. Ben Nwoye has said the party is ready to register members of the Peoples Democratic Party, PDP, even at night.
Nwoye spoke on Sunday shortly after revalidating his membership at his Afianwakpaka 00-12 pooling unit, in Amuri ward, Nkanu West Council area of Enugu State.
He said the APC was ready to welcome all, including “our brothers and sisters willing to dump the PDP for our party.
“If you don’t want to come during the day time to register, maybe because you are ashamed, we are ready and willing to register you in the night.”
The Enugu APC boss, who was recently appointed a federal Commissioner in the Consumer Competition Commission, representing South-East Nigeria, said the ongoing exercise was vital in the nation’s democratic process, because “if you want to vie for any election, including the president, or governor, you must be a member of a registered political party.”
Nwoye particularly called on the people of his locality and entire Nkanu West Council area to identify with the APC, “especially for the fact that we have benefitted from the party, he said.
“For instance, by the Grace of God, today, we have a federal Commissioner representing the South East, courtesy of APC. We have the Nigerian Ambassador to Poland, in the person of General Chris Ugwu (Rtd) and the member representing South East in the Police Service Commission PSC, Barr. Onyemuche Nnamani, three of us are from Nkanu West.
“So, with all these appointments our people of Nkanu West don’t have any reason not to join APC enmass via the ongoing registration exercise.”
In his remarks, Chairman of the Enugu State APC membership registration/revalidation Committee, Senator Jonathan Zwingina, expressed satisfaction with the high level of enthusiasm being shown by members and stakeholders of the party in the State.
He said the Nwoye-led APC had succeeded in planting the party in the hearts of the people of the State, calling on the South Easterners to take advantage of the ongoing registration to join the ruling party, as they stand to benefit a lot.
Zwingina added that the exercise was open to all and sundry from 18 years and above, stressing that it was not meant for a particular region or race
