Dogecoin has fallen below $0.20 for the first time in months, marking a significant drop of over 11% in the past 24 hours. The meme coin is currently trading at $0.201, down 43% over the past month and 72% from its peak of $0.73 in 2021. This sharp decline reflects the broader struggles in the crypto market, with other major cryptocurrencies, including Bitcoin and Ethereum, seeing significant losses of 8.3% and 10.1% respectively. The meme coin sector is not immune to this downturn, with many coins seeing even larger drops.

Solana-based meme coins like Bonk and President Trump's official token (TRUMP) have also dropped by over 14% in the past week. Similarly, the Ethereum-based Pepe coin has been hit hard, continuing the trend of losses in the meme coin market. Meanwhile, Fartcoin, once a token that reached a $2.4 billion market cap, has seen its value plummet by nearly 90%. Currently trading at just $0.29, Fartcoin is no longer part of the top 200 cryptocurrencies by market cap.

The broader crypto market has been in turmoil, with Bitcoin dropping as low as $87,115 and Ethereum experiencing a similar downward trajectory. As of writing, the total market capitalization of cryptocurrencies has dropped 8.8%, falling below the $3 trillion mark. Analysts attribute these losses to various factors, including speculation and uncertainty about future regulations, such as the potential creation of a U.S. national Bitcoin reserve.

Amid the downturn, some tokens have managed to perform better. Popcat and Peanut the Squirrel have seen slight increases, up 1% and 5% respectively. Still, the overall trend remains negative, with significant liquidations occurring. Dogecoin contracts have seen $32.37 million in liquidations, while Trump token contracts have faced $11.39 million in losses.

In light of these recent events, investors are becoming increasingly wary of the volatility inherent in the crypto market, particularly within the meme coin space. The market's unpredictable nature continues to create uncertainty for investors, as seen in the ongoing downturn affecting some of the most well-known digital assets.

Despite the difficult climate, the cryptocurrency market remains dynamic, with fluctuations continuing to shape the sector. The continued volatility underscores the risk involved in digital asset investments and highlights the need for caution in the face of shifting market conditions.

[Coin Market Cap]

On Monday, Apple unveiled plans to invest more than $500 billion in business operations in the U.S., including across fields like artificial intelligence, manufacturing, and engineering.

Although crypto was notably absent in Apple's announcement, some in the industry speculated about a potential move into digital assets: “This level of investment could be the precursor to Apple’s entry into the digital asset space, which may be the product of a more favorable regulatory environment under the Trump administration,” Angus O’Callaghan, XDC Network's Head of Trading and Markets, told TheStreet Crypto.

"Apple has the user reach and technical knowledge to seamlessly enter the digital assets space,” added O’Callaghan.

Apple has not released any details about a possible entry into crypto.

In 2021, Apple CEO Tim Cook admitted he privately invested in crypto, but that the company was far from considering digital assets as part of its corporate strategy: “I think it’s reasonable to own [cryptocurrency] as part of a diversified portfolio,”

Cook said at the 2021 DealBook Online Summit. “I don’t think people buy Apple stock to get exposure to crypto,” he added, clarifying that the company was not integrating digital assets into the Apple payment ecosystem. “It’s not something we have immediate plans to do."

Last year, Bitcoin maximalist Michael Saylor, whose company Strategy (formerly known as MicroStrategy) functions as a proxy for the world's leading digital asset, advised Apple to purchase $100 billion in Bitcoin. The advice went unheeded by the company, with Cook continuing to maintain only personal holdings in crypto.

Meanwhile, Saylor's Bitcoin investment pitch to rival companies like Microsoft also failed, as Microsoft shareholders voted against investing in the digital asset last year.

Following Monday's news, some industry observers also raised other questions about Apple's U.S. investment strategy, suggesting that it may be a broader, calculated effort to align with the America-first aims of the Trump administration, which has castigated American firms promoting innovation abroad rather than domestically.

Apple shares are currently trading at $247.66.

[TheStreet ]

Admittedly, there's cause for concern if you're thinking about buying Bitcoin (CRYPTO: BTC) right now. Bitcoin has dipped below the psychologically important $100,000 price point, and at one point in January, it even fell below $90,000.

However, now is the time to buy Bitcoin at a discounted price before it once again skyrockets in value. Here are three big reasons why you should be adding Bitcoin to your portfolio right now.

Short-term vs. long-term outlook for Bitcoin

If you're a short-term investor, yes, the current situation appears fraught with risk. Bitcoin is only up a modest 2% for the year and has struggled to hold the line at $100,000. At this pace, there's absolutely no way that Bitcoin is going to double in price this year, as many predicted at the outset of 2025.

Even worse, every single bit of incoming macroeconomic news seems to knock Bitcoin lower. The world's top cryptocurrency has been remarkably fragile when it comes to inflation, tariffs, and any news related to monetary or fiscal policy. That shouldn't be happening because, historically, Bitcoin has been completely uncorrelated with every major asset class.

But here's the thing: Bitcoin continues to outperform the crypto market as a whole. Just look at how badly other cryptos are faring right now. Ethereum is down 20% for the year. Solana is down 16% for the year. And highly speculative meme coins such as Dogecoin and Shiba Inu are both down 30% for the year.

Best of all, the long-term outlook for Bitcoin remains unchanged. Cathie Wood of Ark Invest recently doubled down on her $1.5 million price forecast for Bitcoin. She expects Bitcoin to hit that price by the year 2030. She points to the growing integration of Bitcoin into the global financial system, the success of the spot Bitcoin ETFs, and the sound network fundamentals of the Bitcoin blockchain.

Big institutions are buying Bitcoin

There's further room for optimism because large institutional investors are now expanding their commitment to Bitcoin. As they see it, Bitcoin represents an entirely new asset class with its own unique risk-reward profile, and they are looking to add it to their overall portfolio mix. According to BlackRock, the company behind the highly successful iShares Bitcoin Trust (NASDAQ: IBIT), institutions should be allocating 2% of their portfolios to Bitcoin these days.

It looks like many institutions are following this advice. According to recent 13F filings with the SEC, large institutional inventors (those with over $100 million in assets under management) tripled their overall exposure to Bitcoin in the fourth quarter of 2024. As Coinbase Global points out, over 1,000 of these large institutional investors now have exposure to Bitcoin via the new spot Bitcoin ETFs.

The Office of the Attorney-General of the Federation and Minister of Justice has urged the Federal High Court in Abuja to dismiss a lawsuit against it, which seeks to compel Multichoice Nigeria to configure its GOtv and DStv decoders to charge Nigerian customers based on actual viewing time (pay-per-view or during viewing).

The AGF, named as the fourth defendant in a lawsuit against Multichoice, the Federal Competition and Consumer Protection Commission (FCCPC), and the National Broadcasting Commission (NBC), contends that the case constitutes an abuse of court process and should be dismissed outright.

The pending lawsuit, filed by Maduabuchi O. Idam Esq. on April 29, 2024 (suit number FHC/ABJ/CS/563/2024), seeks an order compelling Multichoice to allow the rollover of unused subscriptions upon expiration, enabling Nigerian customers to maximize their investment in its services.

What Transpired in Court   

At the resumed proceedings on February 19, 2025, before Justice Inyang Ekwo, Multichoice’s lawyer, Moyosore J. Onigbanjo (SAN), informed the court that he was opposing the claimant’s suit against the pay-TV network.

• The judge then asked the legal representatives of the FCCPC and NBC if they had filed any responses in the case.
• They individually confirmed that they had filed counter-affidavits against the claimant’s suit.
• The AGF’s lawyer also confirmed filing a motion on notice against the suit.

Ekwo then asked the claimant, “Have you received all these processes, and have you filed a reply?”  

“Yes, my Lord, I have responded,” the claimant answered but added that more court processes (further affidavits) needed to be exchanged, particularly between him and the legal teams of the AGF and NBC.

“I am going to give you a date for the hearing, believing that by then, parties should have filed and exchanged whatever necessary processes,” Ekwo responded.

The judge eventually fixed the hearing date for May 6, 2025.

AGF’s Motion to Strike Out the Suit   

• In the referenced AGF’s motion dated October 25, 2024, exclusively obtained by Nairametrics, the AGF urged the court to strike out or dismiss the suit, arguing that the claimant did not disclose any cause of action or omission by the AGF and that there was no connection between the AGF’s office and the lawsuit.
• The AGF’s lawyer, Maimuna Lami Shiru, further argued that the questions raised by the claimant did not reference the AGF’s powers or responsibilities.

“The AGF is not a regulatory body in respect of the subject matter of the claim and has no business in the suit.   

  “The AGF is not a proper or necessary party to the suit.   

   “The originating process is premature and defective as it relates to the AGF,” the motion stated.

• The AGF’s office emphasized that it is not a regulator of Multichoice or any other TV network provider in Nigeria and accused the claimant of failing to obtain the court’s permission before filing the suit.

• The AGF’s lawyer maintained that the case was frivolous and should be dismissed.

Backstory

Nairametrics previously reported that after the lawsuit was filed last year, Multichoice’s lawyer, Moyosore J. Onigbanjo (SAN), denied allegations of customer exploitation, through his court processes .

• Multichoice cited factors such as exchange rate fluctuations, rising programming and content costs, and increased electricity tariffs as reasons for its subscription rate adjustments in 2024.
• The FCCPC stated that its mandate focuses on promoting competition and protecting consumers but does not directly regulate business operations.
• The Commission also noted that it had previously investigated Multichoice and that similar cases are currently under appeal.

The NBC stated that before the committee assigned to investigate the plaintiff’s complaint could conclude its work, the Federal High Court in Abuja delivered a judgment declaring that the NBC lacks the authority to investigate or sanction in this context.

What You Should Know   

While a verdict on the pending lawsuit is yet to be determined, Multichoice has faced accusations of exploiting Nigerian customers over the years.

• In 2024, a Nigerian tribunal fined Multichoice N150 million and mandated a one-month free subscription for violating interim orders.
• However, Multichoice opposed the ruling, and the case was eventually struck out after a public interest lawyer withdrew the suit.
• Recently, Multichoice notified its customers of another price increase across its DStv and GOtv subscription packages, effective March 1, 2025.

This latest increase comes despite a significant loss of subscribers in the previous year, which the company attributed to multiple price hikes, inflation, and other factors.

[Nairametrics]

Afolabi Fashanu (SAN), Obasa’s lead counsel, confirmed on Tuesday that they are fully prepared for the February 28 court hearing, despite ongoing political efforts to resolve the Assembly crisis.

Fashanu emphasized that Obasa will not return to the Assembly until a judgment is obtained, arguing that any attempt to resume the speakership before the court’s ruling would be illegal.

Obasa, who was impeached on January 13, 2025, by a majority of lawmakers, filed a suit at the Lagos State High Court in Ikeja, challenging his removal and the emergence of Mojisola Meranda as the new Speaker.

Political Mediation Efforts

The Lagos Assembly crisis has proven difficult to resolve, even for the powerful Governors Advisory Council (GAC). In an attempt to mediate, President Bola Tinubu reportedly assigned Chief Bisi Akande and Aremo Olusegun Osoba, both former governors, to intervene.

Following marathon meetings from Sunday through Monday, reports suggest that the mediating panel recommended that both Obasa and Meranda should step down for another lawmaker from Lagos West Senatorial District.

Additionally, Obasa was reportedly asked to withdraw his court case and voluntarily resign, with the panel expected to brief President Tinubu on its intervention.

Obasa’s Legal Team Unmoved

However, when asked about these reports by The PUNCH, Fashanu denied any official communication regarding a settlement.

He said: “Well, that intervention, for me, is still a rumor because nothing of such has been communicated to us, as the legal team. So, what we all read in newspapers, we don’t even know the genuineness or authenticity of the news on the purported settlement.

“Our client has not communicated anything to us in the nature of withdrawal. So, we are still preparing for the case until otherwise.”

Restating the legal team’s commitment, Fashanu added:“Nothing is certain in life except death. But on our part, we will put in our maximum effort, and we believe he has a very good case. So, subject to the overriding power of the deciding judge, we are good to go.”

No Resignation, No Illegal Moves

A source close to Obasa also dismissed claims that he would voluntarily resign, insisting that “it has not gotten to that level.”

On whether Obasa would return to the Assembly before the court ruling, Fashanu clarified that such a move would be illegal, stating:

“That means he will be taking laws into his own hands, and I don’t think he would want to do that. If he had wanted to do that, I’m sure from day two or day three, he would have done that.”

[NaijaNews]

The Supreme Council for Shari’ah in Nigeria (SCSN) has expressed disappointment over the Muslim-Muslim ticket that brought President Bola Tinubu and Vice President Kashim Shettima into office in 2023, stating that it has not yielded the expected benefits for the Muslim community.

Speaking at a Pre-Ramadan Lecture, the President of SCSN, Sheikh Abdurrasheed Hadiyyatullah, criticized the administration for failing to address the plight of Nigerian Muslims, despite the general belief that the ticket would be advantageous to them.

“We have seen Nigerians vote for people of the same Islamic faith into the Presidency without turning the country into an unceasing battlefield, but we have not seen justice and equity done to all communities, irrespective of their faith,” Hadiyyatullah stated.

He further lamented that millions of Muslims remain politically marginalized across various parts of the country despite their significant population and constitutional rights. He warned against what he described as an attempt to suppress the rights of South West Muslims to organize mechanisms that would enhance their coexistence with Christians within their communities.

“We stand in solidarity with our brothers and sisters in the South West and we advise those who think they can divide the Nigerian Muslim Umma to find other mischief to engage themselves,” he said.

Hadiyyatullah also raised concerns over the worsening economic hardship in the country, urging the federal government to take immediate action to alleviate the suffering of Nigerians.

“The Umma looks up to us for guidance and assurances that their faith will not be sacrificed on the altar of political opportunism and greed. Many Muslims are being encouraged to think they have been betrayed to vote for this administration,” he added.

[DailyPost]

The United Kingdom Foreign and CommonWealth Development Office in Nigeria through its programme, strengthening peace and resilience, has organised a four-day training workshop for traditional rulers on conflict resolution and mediation

Declaring the training open, Katsina Governor, Mallam Dikko Umar Radda who was represented by the Secretary to the State Government, Barr. Abdullahi Faskari, highlighted the role of the traditional rulers on peace resolution which he said cannot be overstretched.

He said: “We all know that peace is fundamental and significant for socio-economic development in the society and without peace, nothing can be achieved.

”Any attempt  to.strengthen the issue of having peace in the society is very significant and important for all of us,as these traditional rulers were the closest to the people and everything starts from there.

“This is surely inherent in their own activities from time immemorial for them to settle people for peaceful coexistence.so attempts to bring about modernisation, new ideas, ways and knowledge that will improve their activities, I think is a welcome development”.

Radda further added that bringing peace in Nigeria is the sole responsibility of everyone and that It is a religious duty for everyone and whoever comes to assist on this regard

Underscoring the importance of the training in Katsina State, the team lead, SPRiNG programme, Dr. Ukoha Ukiwo, noted that considering the laudable contribution of the Nigerian government in maintaining peace especially in Africa, the UK government has indicated interest to promote efforts to restore peace and establish security.

He said: “The interest in Nigeria is because of its important role played especially in maintaining peace and security across Africa and there are concerns all over the world that if Nigeria is not stable, Africa will also be unstable”

“Nigeria is very important to the world that is why the UK government is quite interested in supporting the effort of the Nigerian actors and institutions to address issues that affect peace and security in Nigeria.

“All it has to do is to work with Nigerian stakeholders like you to ensure that we are better even to respond to issues around conflict, security, stability particularly that are also related to access to natural resources in a more peaceful way. 

The Training Coordinator, Green Horizon, Prof Muhammed Tabiu, said the programme was aimed at equipping and strengthening the traditional rulers’ skills on mediation as well as basic knowledge of the justice system in Nigeria.

He further added that Katsina State and the rest of the North-West region of Nigeria have become even more important because of the destructions that were brought about by the criminality, banditry and terrorism and that traditional rulers are up to the task if they are equipped with relevant skills, techniques for maintaining law and order and conflict resolution. 

He said: “The subject matter is mediation and conflict resolution aimed at sharpening the participant’s skills and to improve their capabilities to make peace, mediate between members of their communities as well as maintain law and order”.

The participants were expected to be equipped with the basic knowledge of the justice system in Nigeria in order to build their confidence especially when interacting with law enforcement agents during conflict resolution ,mediation and family disputes.

Not a few Nigerians were relieved after former military President Ibrahim Babangida finally admitted, at the recent launch of his book, “A Journey of Service”, that Bashorun MKO Abiola indeed won the June 12, 1993 presidential election.

Though his attribution of the dastardly act almost solely to his subordinate, General Sani Abacha, who eventually succeeded Earnest Shonekan, his successor, may be a true and accurate account of who actually did what and why, it revealed a flaw in his character.

Gumsu, daughter of General Abacha, reportedly posted the cryptic remark, “Weakling,” to General Babangida’s “revelation” that he was in (faraway, unreachable outer Mongolia, Southern Succotash boondocks?) Katsina when General Abacha instigated the annulment of Abiola’s election.

By the way, Abacha’s son, Sadiq, who reportedly accused some faceless people of tarnishing his father’s image, and his sister, Gumsu, should appreciate that it is an exceeding act of cruelty if their father indeed caused the annulment of the election, and turned around to imprison MKO and ordered the assassination of Kudirat, his wife.

According to General Babangida, Nduka Irabor, press secretary of his vice president, Admiral Augustus Aikhomu, suddenly “read out a poorly worded statement from a scrap of paper, which bore neither the presidential seal nor the official letterhead of the government, annulling the presidential elections.”

Of course, he “was alarmed and horrified” about the poorly worded statement, and he, the indulgent patriarch, must have probably thrown up his arms in resignation, as he wailed (?), “These nefarious ‘inside’ forces opposed to the elections have outflanked me!”

Though he alleged that he “would later find out that the ‘forces’ led by General Sani Abacha annulled the elections”, he did nothing other than to acknowledge that he “was caught between ‘the devil and the deep blue sea!”

He adds, “From then on, the June 12 elections took on a painful twist, for which… (he) would later take responsibility.” It is, of course, easier to take responsibility for a wrong, willfully carried out by a dreaded subordinate than risk looking down the barrel of that subordinate’s gun.

Prior to what now amounts to General Babangida’s one-witness narratives, National Electoral Commission Chairman, Prof Humphrey Nwosu, had, “without (General Babangida’s) prior knowledge and approval… announced the suspension of the June 12 elections results ‘until further notice’.”

Though he “knew instantly that certain fifth columnists were at work”, General Babangida did not bother to fish out or sanction them. He (tactically?) withdrew “to (his) home in Minna to reflect and hold series of meetings with various (nameless?) people, within and outside the military, on the situation, oblivious that something even more severe and sinister was about to happen”.

You might be correct if you thought that General Babangida chose to be a gentleman and preserved his life, rather than be an officer who would be brave enough to lay down his life if necessary. Lt-Col Adekunle Fajuyi, the first military Governor of Western Nigeria, had offered to die with his Commander-in-Chief, Major General JTU Aguiyi-Ironsi, when the counter-coup plotters came calling on that fateful day in July 1966.

If General Babangida indeed told his confidant, Prof Omo Omoruyi, that “I see disaster for myself and family,” and asked in desperation, “Where do I go from here?” you will appreciate the mindset of a coward.

If IBB had stood his ground and called the bluff of General Abacha, he may have lost his life (probably alongside MKO), but he would have been the hero that would have been celebrated every June 12 in Nigeria. Wouldn’t that have been more honourable for a four-star general?

The Yoruba would say that it is better for a man to prostrate for his in-law than to fall down for nothing. If you agree with the Yoruba, who seem to agree with British economist John Maynard Keynes that “In the long run we are all dead,” you might also agree that it would have been more honourable for a general to die in the defence of the honour of his country.

Think of the number of Nigerians who died and the businesses that perished needlessly in the wake of the criminal annulment of the free and fair election. Also, think about Hafsat Abiola-Costello and her siblings, who lost their dad, MKO, and their mom, Kudirat, because a general lost his courage.

General Babangida should have written this whitewashed autobiography while General Abacha was alive. But Nduka Irabor needs to help clarify these gaps, omissions and inconsistencies by confirming who asked him to release the innocuous press release.

All this is not to beatify General Abacha, with his innumerable warts, but to recognise that a general feared a subordinate general to the extent that he would compromise the national interest and security of his country to preserve his own life.

When William Shakespeare averred, “Cowards die many times before their death,” no one could tell if he had in mind some Nigerian generals, who shot other generals, who happened to be their childhood friends, for allegedly planning a coup against them.

In executing General Mamman Vatsa for an alleged coup attempt, General Babangida had argued, “I had to choose between saving a personal friend and the nation’s future… The national stability and the cohesion of the armed forces were too high on the scale of priorities to be sacrificed for personal considerations. The law and the imperatives of order and national security are overriding.”

Pray, which did he choose between the consequences of arresting and sanctioning General Abacha for annulment of the June 12 presidential election, a clear breach of national security, and tactically choosing to preserve his own life, even if Nigeria became an abyss of chaos, civil unrest and instability?

By failing to stand up to General Abacha, Babangida’s dedication of his book to “To our fallen heroes, my comrades-in-arms, who fought gallantly to protect the unity of Nigeria”, appears hollow, insincere and just plain trying to be politically correct.

He needs to tell Nigerians if he eventually went along with General Abacha on the willful annulment of the election, or not. He could also suggest what actions should be taken against those who initiated the annulment and those who merely went along with the perfidious act.

Col. Abubakar Umar, who General Babangida described as one of his trusted allies, seemed to have done what his idol could not do. He was reportedly picked up for canvassing support within the army for a reversal of the annulment of the election and the installation of MKO Abiola as president. Though he was eventually eased out of the army, he still openly criticised General Abacha’s plan to transmute into an “elected” president.

In case General Babangida is not aware, actions like those of Col. Umar are the stuff that brave (and maybe foolhardy) soldiers are made of. The general should not have waited for more than 30 long years to reveal who annulled the election, which he admits that Abiola won.

Finally, General, if your career in the military and government was “A Journey In Service,” it would not be an apt definition of altruism, but an obscene adventure in self-service. And as for “dignitaries” at the book launch, and those who shelled out N17bn…