The ordeal of Herbert Wigwe’s children, who have been caught up in a legal tussle between their grandfather on one side and the testaments of their deceased father’s Will on the other, has shone some light on what other fatherless children and their mothers are going though in the hands of oppressive relatives. Whether their fathers died interstate or testate, many Nigerian children and their mothers have been cheated out of their legal inheritance by greedy and callous relatives, especially if they had nobody to fight for them. Herbert Wigwe’s children are lucky to have their father’s friend and business partner, Aigboje Aig-Imoukhuede, stand up for them. Aigboje should be commended for his principles and capacity to stand by the law and protect Herbert’s children according to the wishes of their departed father, despite pressures and attempts to cow him.

Other children who have not been so fortunate to have a strong pillar of support have been dispossessed of their heritage and pushed out into penury and hopelessness. This tribute is to all such unfortunate children and their mothers and to all men of goodwill and father figures who have decided to take sides with these fatherless children (and widows) who are fighting to claim their inheritance. A recent piece by Onikepo Braithwaite, a law columnist with Thisday newspaper, on this subject matter is quite enlightening and educative.

Herbert Wigwe left behind both a Will and a Revocable Trust to protect his estate and ensure a smooth inheritance for his children and wife. But, unfortunately, his wife died with him. The laws governing the administration of estates of deceased persons in every state of the federation explicitly define the dependents of the deceased who are entitled to benefitting from the inheritance of the late breadwinner. In Lagos, for example, where Herbert Wigwe lived most of his life and raised a family, Section 2(1)(a) & b of the Wills Law refers to the deceased’s spouse(s) and children as the family dependants of the deceased who are entiled to benefit from his estate; not the deceased’s grandparents and siblings. Section 4 of the law provides that for a Will to be valid, the Will must be in writing; the Testator (the person writing the Will) must sign it in the presence of two witnesses who must, in return, attest and subscribe to the Will in the presence of the Testator. A Will made outside Nigeria can also be valid in Nigeria.

The second scenario in death, intestacy, is a case in which a person dies without a Will. In the case of Herbert Wigwe, his Will named three people alternatively to be his personal representatives and three people alternatively to be his trustees. Herbert listed his wife Doreen (who unfortunately died with him) and his cousin, Uche Wigwe to be both his trustees and personal representatives. Aigboje Aig-Imoukhuee is also listed as the second alternative trustee, while an American citizen, Ms Blanco, is listed as the second alternative personal representative. Ms Blanco subsequently declined to be the personal representative.

The Wills law and administration of estate law in Lagos define dependents as spouses and children, and in scenarios of testacy and intestacy, the children and the spouses are priorities in the hierarchy of inheritance. In intestacy, the children are the most superior, in that, where there’s no spouse, whether there are parents or siblings of the deceased, the children take the whole estate of their father; but if there is a surviving spouse and no children, the spouse will only take half, and the other half goes to the parents of the deceased in equal shares. It goes without saying that being a biological relative of the deceased person does not confer a right to inheritance. Rather, it is the wishes of the deceased as stated in the Will that confers the right of inheritance; or where the deceased left no will, the provisions of the law will prevail.

Herbert Wigwe left behind a Will and by the Wills Law of Lagos State; his four surviving children are the true inheritors of his estate. It is therefore mindboggling that Herbert’s father and cousin, Christian, are fighting to be in control of the estate by first seeking an Order of the Court to change the administrators of the estate. Typically, it is the children of the deceased who fight over their father’s Will. I have never seen a situation in which a 90-year-old man is taking on his granddaughter in such an embarrassing feud. This is why Aigboje Aig-Imoukhuede, himself a lawyer, is determined to protect Herbert’s children and preserve their inheritance for them as enshrined in their father’s Will. Aigboje Aig-Imoukhuede should be commended for standing up for Herbert’s children in spite of all the innuendoes thrown at him. But who will protect the tens of thousands, if not hundreds of thousands of other Nigerian children and their mothers who have been disposed of their rightful inheritance just because they do not have someone to fight for them? What can our governors do about this? In many Nigerian societies, the siblings of the deceased are always eager to step in and confiscate the deceased’s properties and chase the widow and children away.

Professor Humphrey Nwosu, will, finally, go back to mother-earth on Friday, March 28, 2025. On that day, he will finally find peace and satisfaction which his country, Nigeria, denied him while alive. And that,  inspite of his selfless sacrifices for it.

On that day, Nwosu will, finally, find that peace, denied him by his country when his body embraces the bosom of his beloved Ajalli, Orumba North Local Government Area Anambra State, to  meet his Ancestors who must be proud of his sojourn on Earth. They will tell him: “Great son of ours, you have done well. You did well for your country. And we are proud of you”.

It was the erudite and urbane and calm and unassuming Nwosu, a Professor of Political Science who oversaw the June 12, 1993, Presidential Election adjudged by Nigerians and the International Community as the freest and fairest election ever conducted in Nigeria, a Country which every of its election is covered by corruption as water covers the sea. Nwosu was the Chairman of the National Electoral Commission  1989 – 1993 when he was unceremoniously kicked out for conducting a free Presidential Election.

That election, held after years of  Military Rule was meant to usher Nigeria into the circle of decent Nations, governed by civilians, law and order. It was between Chief Moshood Abiola of the Social Democratic Party, SDP, and Bashir Tofa of the National Republican Convention, NRC. The two political parties were created by the Military Regime of President Ibrahim Babangida. He had dubbed one a little to the right, and the other, a little to the left.

When Nwosu was appointed the Chairman of the Electoral Body to birth Nigeria into the world of democracy by Babangida, it was a job he took seriously. It was a job he gave his all, and inspite of all the dribbles and obstacles, did a good job.

The SDP Candidate, Chief Abiola, was clearly, undisputably, in the lead. There was nothing to stop his victory lap, and that of Professor Nwosu – Abiola’s for his overwhelming victory, and Nwosu’s for delivering a perfect baby.

But just when Nwosu, all smiles, was ready to name the baby he had just delivered, the smile was brutally wiped off his face. The baby was snatched from him and killed. It was camouflaged like a still birth. But no. The baby had already been seen alive by most Nigerians. They were celebrating, already, a new dawn. But, the Military Regime, led by Babangida, inexplicably, annulled the election. Nwosu was left empty and broken.

It is not known whether Professor Nwosu ever recovered from that brutal smack on his face and reputation. An undeserved question mark had been put on his credibility. And capacity. He withdrew into his shell. He never granted any major interview to discuss June 12; the pressure he underwent; the trauma he went through; the threats he endured. He never let on.

In those very fluid days, between June 12 and the day the Election was, finally, annulled, he never discussed where he was. Was he under house arrest? Was he surrounded by trigger-happy soldiers? Was a gun, or guns, pointed at him with a threat not to make “pim” or …? Anything could have happened. What was going on inside his head? Was he afraid? Did he fear for his life, that perhaps, he could be wasted just like that by an unappreciative Country and people? What were his regrets? Did he feel betrayed by Babangida, the man who appointed him? Did he feel abandoned? Did Babangida call him to apologize or explain what happened? Was he thinking of his time, years, now wasted, and the trillions of Naira gone down the drain.?

With Professor Nwosu’s passing on 24th October, 2024,  in the United States of America, a good chunk, indeed, what could have been the most authentic June 12 story is gone. For, the Professor never wrote a book to tell his story. Nigerians have been denied of all that by his passing. Now, who will tell his story?

The question one has been asking since February 20 when Babangida presented his own side of June 12 story in his autobiography – A Journey In Service – is: What could have been Nwosu’s response to Babangida’s tale?  Babangida’s book was sadly presented behind Nwosu, as it was behind a whole number of those who played prominent roles in that very dark phase of Nigeria’s history. Most of them are gone. They left the world  in silence as if their mouths were celotaped. The only real main character remaining is Babangida. That irks.

But perhaps, what irks most is that  Professor Nwosu was not alive to hear Babangida validate the June 12 Election. He was not alive to hear Babangida say “Yes, Professor Nwosu was right, I was wrong; that the election was clean; that Nwosu did a good job, and I was the one, along with my colleagues, especially, the goggled one, who rubbished it, and took Nigerians on an endless journey. Sad.

Yet, the worst is that Professor Nwosu is going home unsung, unappreciated, uncelebrated by a Country he gave his all. Nobody has recognized him. Nobody is even remembering him. No National Honour has been bestowed on him. No National monument has been named after him. None. Why?

On the day Babangida presented his book, I never heard any speaker pay glowing tributes to Professor Nwosu. I never heard any talk about Nwosu’s pains and sacrifices. And resilience. Just as I never heard any of them pay tributes to the hundreds of Nigerians who lost their lives over that scandalous incident.

And, unless I missed it, when he died, I never read any letter of condolence to his family from the Federal Government. In the preparation for his final send- off from mother-earth, I have not heard of any contributions made by the Federal Government of Nigeria. What role is the FG playing for a man who offered us the democracy we are enjoying today? Is he being given a state burial? Will the Nigerian flag adorn his casket?

From the programme of events released by the Family, not by the Federal Government, or in conjunction with the Federal Government, the closest I saw of Nigeria’s involvement is a Service of Songs for him which will be held at the Nigerian Embassy,  Washington on March 1. Will the Federal Government be represented? There is no Ambassador at the Nigerian Embassy yet. So, who? There will, also, be a Night of Tributes at the Shehu Musa Yar’adua Centre, Abuja on March 28. Who is organizing that? The Federal Government or friends and family?

Yet, as the saying goes, it is better late than the late. Any time one wakes up, it is, also said,  is one’s morning. The Federal Government still has a chance to redeem itself. Nigeria still has a chance to celebrate its son who is the architect, the hero of the democracy we are enjoying today, no matter how weak, and disjointed and corrupted it is. It is still better than a Military Regime.

On  March 28, the day Professor Nwosu will be interred, the FG should honour him by naming a National Monument after him.

May his great and patriotic soul rest in perfect peace. Amen.

Crypto traders are feeling the jitters today.

The widely-watched Crypto Fear and Greed Index, a market indicator that uses social media posts, volatility, trends and prices to gauge trader sentiment, dropped to a five-month low of 25 in its latest update.

That’s a big fall from yesterday’s figure of 49, landing it in the “extreme fear” zone, coming as overall market capitalization fell 10% in the past 24 hours as bitcoin and major tokens such as Solana (SOL) and xrp (XRP) fell more than 14%.

The Fear and Greed Index measures how people feel about crypto on a scale from 0 to 100. A low number, like 25, means fear is taking over, while a high number shows excitement or greed. Tuesday’s drop from 49 to 25 is one of the sharpest since September and indicative of a quick shift toward overly bearish sentiment.

Reasons for the panic range from money flowing out of bitcoin ETFs, with over $1 billion pulled out in the last two weeks, to the general lack of catalysts to sustain a run that started with crypto-friendly Republican Donald Trump’s win in the November elections.

Elsewhere, Nasdaq futures pointed to continued losses in technology stocks ahead on Tuesday, and strength in the Japanese yen is sparking fears of an August-like risk aversion.

There’s hope for bulls, however. Extreme fear can be a sign that investors are too worried, turning into a buying opportunity in the short term as assets are considered oversold. Some traders also say poor U.S. economic data could mean central banks are forced to take steps to recharge the economy — a move that may eventually fuel a rally.

Dogecoin, the original meme coin, has seen a sharp decline, falling to $0.225 per coin after a 7% drop in the past 24 hours.

The price dipped as low as $0.2239, nearing its lowest point of 2025. Over the past week, DOGE has lost nearly 18% of its value, making it one of the worst-performing top cryptocurrencies.

Crypto analyst Ali Martinez, who previously predicted a $4 price target for Dogecoin, now warns that the coin could fall further if it loses a key support level.

"Is Dogecoin following PEPE? If so, a breakdown below $0.31 could trigger a correction toward $0.20 for DOGE!" Martinez wrote on X.

He also pointed out that network activity has dropped to its lowest level since October 2024, with only 66 whale transactions and fewer than 60,000 active addresses per day.

Can Dogecoin hold above $0.19?

Despite the recent downturn, Martinez suggests that if Dogecoin maintains a key support level, it could see another rally.

“Dogecoin has been trading inside an ascending channel since 2014. Dogecoin has tended to rebound from this channel's lower support trendline to the resistance trendline. From this level, it tends to drop back to the support trendline and then rebound again, repeating the whole cycle,” he explained.

"Dogecoin recently rebounded from the support trend line. If history repeats as long as Dogecoin holds above 19 cents, it could rally to the resistance trend line at around $4," he added.

Market sentiment turns bearish

Dogecoin was flying high just months ago after billionaire entrepreneur Elon Musk reignited interest in the meme coin. In December, DOGE hit a three-year high of $0.48, but it has since fallen significantly.

DOGE remains the eighth-largest cryptocurrency by market cap but has been struggling alongside the broader meme coin market.

Data from CoinGecko shows that nearly every major meme token is in the red. Shiba Inu (SHIB) is down 9% in the last 24 hours, while Pepe (PEPE) and Bonk (BONK) have lost over 14% each.

Adding to the bearish outlook, open interest in Dogecoin has dropped to just $2.16 billion, the lowest level of the year, according to CoinGlass. This suggests traders are losing confidence in the coin's ability to rebound.

Dogecoin remains a significant part of Musk’s influence in the crypto space. The billionaire, who once fueled its rallies with tweets, now runs a U.S. government department called the Department of Government Efficiency, or DOGE.

Will the biggest and best-known crypto assets of today, like Bitcoin (CRYPTO: BTC), continue to hold up against newer players like Cardano (CRYPTO: ADA), or will they go the way of the dodo?

To address this question, let's examine how and why these two coins might flourish during the coming decade and which is more likely to provide a good return for investors.

Bitcoin is about to get a shot in the arm

You're probably already familiar with the investment thesis for Bitcoin: It's a asset with a firm supply cap that's hard for any given set of actors to control or disrupt. There can only ever be 21 million Bitcoins in circulation (about 19.8 million now circulate), which means that it should, in theory, maintain its purchasing power against fiat currencies. Furthermore, because it gets more and more difficult to mine over time, there's a structural basis for rising prices, as any increase in demand will be chasing less and less supply. Notably, its blockchain doesn't need to be upgraded at all for this process to occur.

That thesis calls for the asset to be continually relevant over the long term, even longer than the decade we're thinking about right now. During the last 10 years, Bitcoin's price has risen by a mind-boggling 41,640%, suggesting that there was indeed some real meat on the bone.

The coin could soon be getting a big catalyst, too. People around the globe already hold it, but now many states and countries are buying it to hold as part of their asset mix. In the U.S., there's even a proposal for it to be the biggest holding in a hypothetical national cryptocurrency repository. That would represent perhaps the final frontier of mainstream acceptance and adoption.

But here's the thing. Bitcoin doesn't need to be included on any government's balance sheet for its thesis to keep playing out. That makes it a very compelling asset.

Keeping pace with a glacier is harder than it sounds

Cardano's appeal is very different from Bitcoin's.

Cardano was created to address many of the problems associated with Ethereum, specifically its technical constraints, which kept Ethereum's gas (user) fees high and its transaction times too long. Cardano's solution is a slow development cycle that relies heavily on collaboration, consensus, and peer review to bypass Ethereum's problems and provide a consistent framework for users and developers on the chain to work within.

So Cardano's investment thesis is essentially that its better technical leadership and more careful planning process will let it unseat Ethereum and other blockchains over time by undercutting them and outperforming their ecosystems. If this turns out to be true, a blossoming set of decentralized finance (DeFi) projects on its chain would be a key sign, along with plenty of trading volume. And as the ninth-largest cryptocurrency by market cap, it isn't a laggard.

Japanese investment firm Metaplanet announced on Tuesday that it has acquired an additional 135 Bitcoin, investing approximately $12.9 million in the top crypto. This latest purchase brings the company's total holdings to 2,235 BTC, a significant increase from 1,761 BTC at the end of 2023 and 141 BTC recorded at the end of June 2024.

The acquisition was made at an average price of 14.3 million yen, or about $95,951 per Bitcoin. Metaplanet has outlined a strategic goal to increase its total Bitcoin holdings to 10,000 BTC by the end of 2025, with a longer-term target of 21,000 BTC by the end of 2026.

This move underscores the firm's commitment to its Bitcoin treasury operations, which it officially designated as a core business line in December 2024.

Despite the positive trajectory of its Bitcoin investments, Metaplanet's stock experienced a decline of 1.3% during midday trading on Tuesday.

However, the company's stock price has seen substantial gains, rising 67.5% since the beginning of 2025 and climbing 233.7% over the past year, according to data from Google Finance.

Metaplanet's ongoing accumulation strategy reflects a growing trend among institutional investors in the cryptocurrency market. As firms increasingly recognize the potential of Bitcoin as a long-term asset, Metaplanet's aggressive purchasing strategy positions it as a notable player in the evolving landscape of digital currencies.

[Coin Market Cap]

Bitcoin tumbled below $90,000 to hit the lowest level since mid-November, as the rally that followed Donald Trump’s election to the White House reverses under the weight of his trade tariffs and a string of industry setbacks.

Bitcoin dropped as much as 7.6% and traded around $89,0420 at 7:51 a.m. New York on Tuesday. Other cryptocurrencies also fell, with Ether, XRP and Solana down sharply for the session. An index tracking top digital tokens was on pace for its largest four-day drop since early August.

The recent turmoil in digital assets is a stark shift from the risk-on rally that drove crypto markets higher following Trump’s election in early November. Bitcoin has tumbled roughly 20% since his January inauguration, as Trump’s combative stance against allies and geopolitical rivals alike shakes investor confidence, and concerns about elevated inflation linger.

“The fall in Bitcoin prices is likely related to broader macro uncertainty that has hit most financial markets in the last couple of days and is linked to the various tariffs being announced by President Trump,” said Adrian Przelozny, chief executive of crypto exchange Independent Reserve.

Tumbling crypto prices mirror a broader retreat from risky assets that gained momentum late last week when a string of disappointing economic reports pushed the Nasdaq 100 to what is now its worst three-day drop in two months. In turn, money has flowed into bond havens, pushing the 10-year Treasury yield down for five straight sessions.

Exchange-traded fund investors, whose hand-over-fist buying helped power the post-election crypto advance, have been stepping back. The iShares Bitcoin Trust ETF (ticker IBIT), the largest spot Bitcoin fund, shed $158 million on Monday in a rare outflow, while investors pulled nearly $250 million from the Fidelity Wise Origin Bitcoin Fund — the third-largest withdrawal among all ETFs. More than $956 million has exited from US-listed spot Bitcoin ETFs in February, the worst month on record for the category, Bloomberg Intelligence data show.

In derivatives markets, more than $1.34 billion of bullish crypto positions were liquidated over a 24-hour period, according to data on CoinGlass.

Memecoins, Giant Hack

 Microsoft has made an undisclosed equity investment in Veeam Software as part of an expanded partnership to build artificial intelligence products, the cloud data company said on Tuesday.

Veeam's software is designed to help customers quickly recover their data after cybersecurity incidents, ransomware attacks or accidental data loss.

Its core product supports immutable backups to prevent ransomware from modifying or deleting data, ensuring that clean copies remain available for recovery even if hackers encrypt files.

Microsoft had invested in cybersecurity firm Rubrik in 2021, which also offers data backup and recovery solutions.

Veeam said it would focus on research and development investments and design collaboration, among others, with the support of Microsoft. It will also integrate Microsoft's AI services into its products.

U.S. private equity firm Insight Partners, which is the largest shareholder in Veeam, sold a $2 billion stake in the company in a secondary sale valuing the firm at $15 billion, it said in December last year.

Veeam was acquired by Insight Partners for about $5 billion in 2020.

Founded in 2006, Veeam has more than 550,000 customers globally including corporations such as Deloitte and Canon, according to its website.

[Reuters]

Crypto stocks sank across the board early Tuesday as bitcoin (BTC-USD) dropped below $90,000 for the first time since November. Crypto heavyweights Strategy (MSTR) and Coinbase (COIN) led the declines.

Strategy, the largest corporate holder of Bitcoin (formerly known as MicroStrategy), dropped more than 5%, extending the prior day’s roughly 6% decline. Crypto exchange platform Coinbase sank as much as 3%, while crypto mining companies including Riot Platforms (RIOT) and Marathon Digital (MARA) fell more than 4%.

Those declines were driven by Bitcoin’s nearly 7% plummet Tuesday to just under $89,000, its lowest level since Nov. 14. The cryptocurrency is down nearly 15% over the past month, reversing direction after a massive rally following the election of US President Donald Trump. Trump’s crypto-friendly stance had sent Bitcoin above $100,000 last December. In January, it hit a record high of more than $109,000.

But macroeconomic uncertainty surrounding US interest rates and Trump’s tariff policies have fueled fears of inflation staying higher for longer, pressuring stocks across the board. And industry controversy has pressured crypto stocks in particular: the crypto exchange Bybit fell prey to the largest crypto heist in history last week, with hackers stealing $1.5 billion in digital assets. Trump and First Lady Melania’s recently-launched meme coins have also crashed.

Bitcoin’s declines Tuesday were mirrored by other cryptocurrencies. Ether (ETH-USD) fell 10%, while Solana (SOL-USD) dropped nearly 13%.

Leading crypto stock Strategy was one of the biggest losers of bitcoin’s drop, as the company said Monday that it had purchased an additional $2 billion in bitcoin, meaning it’s spent more than $33 billion buying up the cryptocurrency since 2020 and now owns roughly half a million bitcoins.

[Yahoo.Finance]

The Federal Government has introduced a new policy requiring contractors to provide an active Advance Payment Guarantee (APG) and a performing performance bond before receiving payments from the Ministry of Works.

An APG ensures that funds advanced to contractors are used for the project, while a performance bond guarantees the contractor will complete the project as agreed.

This new payment policy aims to enhance accountability and quality in road construction across Nigeria.

Minister of Works, David Umahi, announced the policy during the Lagos-Calabar Coastal Highway Stakeholders’ Meeting on Sunday, 23rd February 2025, in Lagos. He explained that the policy is designed to secure funds for repairs if contractors fail to address defects within the liability period.

Umahi emphasized that the new policy would be implemented for all ongoing and future projects under the Ministry of Works.

“Any payment made by the Ministry of Works will now require an active Advance Payment Guarantee (APG) and a performing performance bond. This ensures that if a contractor fails to fix defects within the liability period, we will have the resources to carry out the repairs,” Umahi stated.

The minister made the announcement while giving an update on RCC’s ongoing work on Section 2 of the Lagos-Ibadan Expressway, which faced significant failures on the Ibadan-bound lane.

More insight 

The minister provided updates on the ongoing Lagos-Ibadan Expressway construction, which is divided into two main phases with multiple sections.

Phase 1 includes Section 1, constructed by Julius Berger, spanning about 43 km with three lanes dualised. Although minor failures were recorded, Umahi noted that they had been successfully repaired without major delays.

• Section 2, managed by RCC, encountered significant failures on the Ibadan-bound lane, leading to ongoing repairs. Umahi revealed that RCC has been directed to engage in further discussions to resolve the issues. He added that approximately 8.5 km of this section remains incomplete, with an expected completion by April and commissioning planned for May.
• Phase 2 involves completing flyover heads at strategic locations, including the RCCG axis, Wawa axis, Ogun Bridge, and Arepo Bridge. It also includes a 12 km dual carriage stretch at Sagamu-Iperu, currently under construction using rigid pavement.

Additionally, a 48 km stretch to Ore will be reworked, with the contract anticipated to be awarded by March. According to Umahi, completing this phase will conclude the Lagos-Ibadan Expressway project at the Ibadan axis.

[Nairametrics]