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Chainlink price has crashed this year, continuing a trend that started in December when it peaked at a multi-year high of $30.78.
Chainlink 
LINK-6.14%Chainlink dived to $17.4 on Saturday, down by 43% from its highest level in December. Its crash mirrors the happenings among altcoins as most of them have retreated in the past few months.
Still, there are three key reasons why the LINK price may bounce back later this year.
First, there are signs that many Chainlink holders are not selling their coins. One piece of evidence is that balances on exchanges have continued falling this year. CoinGlass data shows that these balances have dropped to 138.8 million LINK coins, the lowest level since September last year. They plunged from 160 million in December.
Falling centralized exchange balances is a sign that investors are optimistic about the coin, with most of them holding them steady in their self-custody wallets. In most periods, CEX balances jump when investors are moving them from their wallets to sell them.
The confidence among Chainlink holders is likely because many of them expect that the Securities and Exchange Commission will approve a spot LINK ETF later this year. Such a fund would lead to more inflows and boost its price.
Chainlink price may also rebound because of its positioning in the crypto industry, where it is the biggest oracle network. It has a total value secured or TVS figure of $35 billion, making it much higher than other oracles like Chronicle, Pyth, and RedStone.
Chainlink is also a big player in the Real World Asset tokenization industry through its cross-chain interoperability protocol. CCIP is a key component in the industry that provides solutions to build, scale, connect, and send assets across various blockchains.
Chainlink price analysis
Third, Chainlink price may bounce back because of its strong technicals. The weekly chart shows that LINK has remained slightly above the 100-week Exponential Moving Averages even after crashing by 43% from its highest point in November.
LINK has also formed a giant megaphone chart pattern, which is characterized by two diverging trendlines. In most periods, this pattern leads to a strong bullish breakout.
In LINK’s case, the initial target of a rebound will be the November high of $30 followed by the 61.8% retracement point of $35. A drop below the lower side of the megaphone will invalidate the bullish LINK outlook.
Weekly crypto recap: $1.4B Bybit hack, Solana memecoin drama, and Microstrategy's plan to raise $2B
Admin
It’s the week of Feb. 17, Bitcoin plunged and we might be experiencing another crypto contagion.
The biggest news of the week is that the crypto market is reeling after Bybit suffered the largest hack in industry history, with over $1.4 billion in Ethereum (ETH) and staked Ethereum (stETH) drained from the exchange.
The attack has triggered a wave of liquidations, particularly in Ethereum futures markets, as panic sets in.
On Feb. 14, the president of Argentina, Javier Milei, promoted the launch of a new Solana memecoin called LIBRA, which pumped and dumped. The story is still developing, but so far there have been multiple allegations of market manipulation and insider trading.
I'll be posting updates to The Street and Roundtable next week, so make sure you follow me there to get the latest.
Now for some good news! President Donald Trump shared an XRP-related article from Coindesk on his social media platform, Truth Social, which is spurring bullish sentiment. The article discussed the CEO of Ripple, Brad Garlinghouse, and his optimism about U.S. deals and hiring after Trump's election win.
Also, Brazil’s securities regulator approved the world’s first spot XRP ETF, which is managed by Hashdex, a global crypto asset management firm with over $1 billion in assets under management.
Brazil may have beaten the U.S. with a spot XRP ETF launch, but the U.S. SEC has acknowledged filings from multiple asset managers, including Bitwise, for their spot XRP ETF applications. The acknowledgements have initiated a 21-day public comment period before final decisions are made. According to Bloomberg analysts, there is a 65% chance of approval in the U.S.
For Bitcoin, Asset management firm Bitwise has pledged to donate $150,000 from its Bitcoin ETF (BITB) profits to support Bitcoin open-source developers. This initiative is part of an ongoing commitment, with 10% of BITB’s gross profits allocated annually to Bitcoin development.
Meanwhile, Strategy also known as MicroStrategy announced a plan to raise $2 billion through 0% convertible senior notes to purchase more Bitcoin.
This move is part of their "21/21 Plan", aiming to raise $42 billion over three years for Bitcoin acquisitions. The company now holds 478,740 BTC, and despite reporting a $670.8 million net loss in Q4 2024, its stock has surged 372% over the past year.
As of Feb. 18, the Bitcoin memecoin DOG, is now tradable on Solana, thanks to a two-way bridge launched by MineLabs. This bridge allows seamless movement of the token between Bitcoin and Solana, enabling fast trades with fees under a penny inside a Meteora liquidity pool.
Next, Grayscale has introduced the Pyth Trust, offering exposure to PYTH, a Solana-based governance token. Pyth is a decentralized oracle network that provides real-time financial data to blockchains and is used by 95% of Solana dApps.
ChainGPT integrated with Hedera, bringing AI-powered blockchain tools to the network. This includes an NFT Generator for low-fee, fast minting and a Smart Contract Generator and Auditor, enabling AI-driven contract creation, auditing, and deployment.
Lastly, Mantra Finance has secured a VASP license from Dubai’s VARA, allowing it to operate as an exchange and provide broker-dealer, management, and investment services. The company specializes in DeFi and Real-World Asset (or RWA) tokenization, with an initial focus on institutional investors and future plans for retail access.
This has been a strange year for the crypto market. Wasn't 2025 supposed to be the year that the world's top cryptocurrencies skyrocketed in value, fueled by all the pro-crypto optimism surrounding the Trump administration? Instead, only a handful of the top 20 cryptocurrencies (as ranked by market cap) are actually up for the year.
Two that particularly stand out are XRP (CRYPTO: XRP) and Litecoin (CRYPTO: LTC). XRP is up 24% for the year, while Litecoin is up 20% for the year. By way of comparison, Bitcoin is up only 2% for the year. That's an anomaly, given that Bitcoin historically leads the market higher. So how much longer can XRP and Litecoin maintain their momentum?
XRP
Let's start with XRP, which stands out as the clear winner in the crypto market right now. It is the best-performing large-market-cap crypto of 2025. And, over the past three months, it is up a head-spinning 400%.
There's a good reason for this spectacular performance, and it has to do with the pro-crypto, pro-business approach of the Trump administration. Keep in mind: Ripple, the company behind the XRP crypto token, has faced regulatory questions about the status of XRP for more than four years now. A Securities and Exchange Commission court case lodged against Ripple has been ongoing since December 2020.
So the thinking here is that all of these regulatory headaches are going to disappear in 2025. Paul Atkins, the newly appointed pro-crypto head of the SEC, could end the case once and for all. And a new regulatory framework for crypto will make it easier for Ripple to get back to business as usual. All of that bodes well, of course, for XRP, which is the crypto token powering Ripple's blockchain-based payment operations.
XRP has a second major catalyst, as well. This is the anticipated approval of spot XRP ETFs sometime by mid-2025. After the spectacular success of the spot Bitcoin ETFs in 2024, it's easy to see why there is so much optimism in the market right now.
One could argue that the arrival of the new spot Bitcoin ETFs was the key reason why Bitcoin more than doubled in price last year. So XRP bulls are clearly hoping that XRP also has the potential to double in price.
In terms of being able to maintain its market momentum past 2025, XRP seems to be in a good position. It would be nice to see a few more positive signals from the Trump administration regarding Ripple and XRP, of course. But it looks like the regulatory shackles are finally coming off this year, and that could send XRP soaring in value for at least the next 12 months.
Litecoin
Just like XRP, Litecoin is being sent higher by anticipation surrounding potential spot ETF approvals. Currently, analysts at Bloomberg think that Litecoin has a 90% chance of gaining approval from the SEC. As a result, Litecoin could become the first cryptocurrency to get a new spot ETF in 2025.
That's the good news. The bad news is that it is unclear just exactly how much demand there is for a Litecoin ETF. If you take a look at a chart comparing the performance of Bitcoin and Litecoin over the past two years, you'll understand why. In that time period, Bitcoin is up 363%, while Litecoin is up only 51%.
And that has generally been the story for Litecoin for much of its nearly 15-year history. Litecoin has historically underperformed Bitcoin, and that's what makes the current period of outperformance such an anomaly. Right now, Litecoin is running circles around Bitcoin, and, if history is any guide, that shouldn't be happening.
So, from my perspective, Litecoin is going to have a hard time maintaining its momentum past 2025. Sure, it might get a bump in price before the new spot ETFs are approved, but that is likely to be short-lived, given how little demand there might be for those ETFs.
What happens to the crypto market in 2025?
Right now, Bitcoin is struggling to get back above the $100,000 mark, and many of the most valuable cryptocurrencies in the world are in the red. Ethereum is down 20%, and so are many other Layer 1 blockchain networks used to power the blockchain economy.
Against this backdrop, it's easy to see why investors are flocking to XRP and Litecoin. They are just about the only top cryptocurrencies with any momentum behind them right now, and they will likely continue to go up. Both are clear beneficiaries of the buzz and speculation surrounding new spot crypto ETFs.
But just keep your expectations in check: Once Bitcoin gets its mojo back, both XRP and Litecoin may lose some of their appeal. Over the long haul, neither of these two cryptos may be able to keep up with a soaring Bitcoin.
[The Motley Fool]
Do you believe that a Nigerian crypto platform can rival Binance?
Meet the 25-year-old with a mission bigger than himself: “to prove that African innovators can build at a global level and create systems that change lives.”
Moore Dagogo-Hart is the co-founder and Chief Technology Officer (CTO) of Zap Africa, Nigeria’s pioneering non-custodial crypto exchange. Zap is the fastest-growing crypto exchange in Nigeria, and Moore is one of the key minds who has played a pivotal role in making this possible.
The Early Genius
Before co-founding Zap Africa, Moore had already demonstrated a knack for building groundbreaking technology. From a young age, he was gifted with the ability to understand and design complex systems. He believes technology is the closest thing we have to magic. That it is a tool that can rewrite economic realities, create wealth, and break down barriers.
In 2018, he built a top-charting mobile game, Color Match, at just 18 years old which charted #2 on Play Store and #4 on the App Store. He also developed an AI-powered risk detection model to detect sexual predators in chatrooms in 2020.
As a high achiever, Moore placed 3rd at Facebook’s #Hackathon4Justice in 2019 and was the winner of the Goldman Sachs’ University Hackathon in 2020.
From Goldman Sachs to Building Africa’s Future
Moore’s career officially began in 2021 as a software developer at Goldman Sachs. Here, he contributed to their financial security systems and gained firsthand experience in high-risk and high-stakes financial modelling. This was when realised his passion lay in building entirely new systems, not maintaining already existing ones. So, he quit.
He left Goldman after a couple of months to start his own company. He went on to co-found Solarsoft, where he built Africa’s first ever fully functional NFT wallet, Nebula. This development pioneered Web3 and digital asset ownership adoption in Africa. However, despite its success, the app was later removed from the App Store by Apple due to Apple’s crypto regulations.
This marked a key moment in Moore’s journey. When many would have seen this event as a failure, Moore took it as a lesson in decentralization, compliance, and the challenges of building blockchain-based systems in a centralized tech world like ours.
The Birth of Zap Africa: Africa’s First Non-Custodial Crypto Platform
The year was 2022. Many Nigerian crypto platforms were collapsing, one after the other, and trust was at an all-time low. Moore and his childhood friend, Tobiloba Asu-Johnson, then came together to form what would become Zap Africa.
They watched as friends, family and everyday people saw their life savings disappear overnight, and they knew there was a better way. So, they decided to create a solution. In less than three years, Zap Africa has emerged as Nigeria’s fastest-growing crypto platform under Moore’s leadership, processing ₦2 billion in transactions within its first three months.
Moore engineered Zap’s financial model, ensuring automated revenue generation, liquidity optimization, and scalable trading infrastructure. This basically means that he designed Zap’s financial system to work automatically, making sure the company earns money efficiently, has enough funds available for users to trade without delays, and can handle a growing number of transactions smoothly.
He was also heavily involved in executing a historic marketing play leveraging the $TRUMP coin, which brought in 10,000 users in 6 hours, marking the biggest growth spike in Zap’s history.
Moore’s vision for Zap is not restricted to Nigeria only but to the entire continent and beyond. He wants Zap to redefine Africa’s financial landscape, making wealth creation, decentralized finance, and borderless transactions a reality for all.
Beyond Crypto: Engineering Africa’s Tech Future
Moore is a man with many skills under his belt. In 2022 as well, he also founded Syx Labs, a deep-tech company solving complex problems in AI, blockchain, and fintech. Syx Labs is not your average software company; it’s an innovation lab designed to engineer Africa’s technological future.
They specialise in AI-driven financial models and fraud detection systems as well as blockchain-powered authentication and security solutions. They describe themselves as the “next-gen real estate and fintech platform tailored for the African market.”
Zap into the Future
Zap is on a mission to redefine the continent’s financial landscape by making wealth creation accessible to all and borderless transactions a reality.
Growing up, Moore witnessed the economic inefficiencies and limitations that hold Africa back firsthand, and he also recognized the unmatched potential of Africans. Now, he is determined to drive change and foster real economic freedom.
Zap isn’t waiting for permission. They are building the future.
The former Governor of Kaduna State, Nasir El-Rufai has surprisingly transformed into a vocal critic of government policies and a champion of the people’s interests, as evident from his recent criticism of President Bola Tinubu’s administration and his successor, Governor Uba Sani
Not only has he taken a firm stand against the Tinubu, whom he strongly campaigned for, but he has also urged opposition parties to form a coalition to wrestle power from the ruling party.
In one of his many criticism, he had said “The problems that led to the creation of the APC remain unresolved, but I no longer believe the APC is interested in addressing them. The distance between me and the party is widening.”
Speaking further, he stated, “ There are internal mercenaries in the PDP, hired and motivated to destroy the party. The Labour Party is also facing similar issues. Peter Obi himself told me, ‘I don’t know what’s happening in the party I contested with.”
Naija News reports that El-Rufai seems relentless in his desire to wrestle power from the All Progressives Congress (APC), Tinubu and also his successor, Sani
But one must question the reason for the former governors’ activism. Does this come from a place of true patriotism, or is this a path of vengeance to wrestle power from those he once supported?
Tinubu, El-Rufai And Uba Sani
It is no news that El-Rufai’s ministerial nomination into Tinubu’s cabinet was blocked by the Senate due to a damning security report.
Will it be far-fetched to assume that El-Rufai’s discontent stems from what he perceives as a betrayal by the Tinubu’s administration?
Though he has repeatedly claimed that he did not seek any political appointment from the president, his sudden opposition raises questions.
El-Rufai earlier stated that he made it clear long before Tinubu won the presidential election in 2023 that he hads no interest in any appointment.
According to him, “I was cabinet minister 22 years ago and was clear to Asiwaju that I was not interested in any position in his future government. The pathetic manner all of you latter-day converts to the Tinubu government make an issue of something that I never wanted in the first place is perhaps a reflection of the level of your moral flexibility.”
He also insisted that he would have criticised Tinubu’s government if he were a member of the cabinet.
In the same vein, El-Rufai has shown his disdain for Gov Sani’s support for Tinubu’s administration.
El-Rufai and Sani were allies before the 2023 general elections. The governor, who was El-Rufai’s advisor, had on many occasions pledged his loyalty to the former governor until he won the governorship race in 2023.
However, after taking over power, Sani’s relationship with El-Rufai turned sour.
An ad hoc committee set up by the Kaduna State House of Assembly to investigate all finances, loans and contracts awarded under El-Rufai administration had indicted the ex-governor and some of his appointees of siphoning ₦423bn state funds
Recently, El-Rufai accused Sani of sycophancy and pandering to Tinubu for personal gain.
His criticism came after Sani’s remarks during an interview, where the governor expressed surprise at the growing criticism of Tinubu’s administration from some founding members of the APC.
El-Rufai alleged that Sani’s unwavering support for Tinubu was linked to over ₦150bn in federal reimbursements received by Kaduna State in the past 18 months.
“Every day I see this governor embarrassingly and sycophantically rambling, I used to wonder why? However, confirming that Federal Government ‘reimbursements, interventions, and grants’ in excess of N150bn have been given selectively to Kaduna by Tinubu in the last 18 months now explains everything.
“By all means, defend Asiwaju for the conditional cash transfer. Asiwaju has earned it, coming from you. The people of Kaduna State will judge at the right time and place. Have a nice day,” El-Rufai said.
The Wind Under El-Rufai’s Wings
While El-Rufai might wish to wrestle power from the APC, one question remains: does he have the political weight to cause a ripple?
Recently, El-Rufai and allies of ex-Vice President Atiku Abubakar, held a private meeting with the leadership of the Social Democratic Party in Abuja
The closed-door meeting, which took place at the SDP national secretariat, had sparked speculations about potential political realignments ahead of the 2027 general elections.
Among the notable attendees were Maj. Hamza Al-Mustapha an ex-presidential candidate and former Chief Security Officer to the late Gen Sani Abacha and Atiku’s former spokesman, Otunba Segun Showunmi.
Although the specific agenda of the meeting was not disclosed, it is being described as part of a broader strategy to forge alliances among opposition figures with the aim of presenting a formidable challenge to Tinubu in the next election cycle.
Showunmi confirmed the meeting in a Facebook post, describing it as a “strategic gathering” convened by SDP Chairman, Shehu Gabam, to evaluate the state of opposition politics in Nigeria.
While it is possible for El-Rufai to join forces with the opposition to strengthen his prowess, we must also not forget that he equally has enough enemies ready to challenge him.
Thoughts Of A Political Analyst
Speaking in an exclusive interview with Naija News, political analyst, Tunji Ojo has opined that El-Rufai latest outburst is all political, insisting that he does not have what it takes to unseat Tinubu and his successor, Sani.
“It is all political, it is all hard wired politics. Because it’s not only Tinubu. Even El-Rufai friend Sanusi Lamido Sanusi has also come out to criticise Tinubu because the assumption is that Tinubu’s presidency is not in support of Lamido.
“They believe that he prefers Ado Bayero to Lamido. Despite the fact that Tinubu assisted in bringing Lamido to power. Kwankwaso was the governor before Ganduje took over and upset the apple cart by removing Lamido Sanusi. When Ganduje removed Sanusi it was El-Rufai that gave him Chancellor of Kaduna State University
“When people don’t have a chair at the table they would cry. El-Rufai said that he was a founding member of APC. He participated in the registration, formation of the constitution, drafting and all of that.
“El-Rufai has a running battle with three senators of the state, Shehu Sani, and some others. He made sure they did not come back and that was in 2019. He made sure those senators did not come back because they were opposed to his borrowing plan in Kaduna State. Uba Sani initially tried to cover up for El-Rufai but the Kaduna people were disenchanted with him. He was not delivering on governance. Insecurity was worsening in his first year. There was something like the chibok attack in one community where teachers and pupils were carted away by bandits and several other abductions. When people of Kaduna State began to accuse Uba Sani of being a failure he had to speak out that his hands and legs are tied that his predecessor mortgaged the state finances and they are paying so much in term of huge debt that El-Rufai collected when he was governor.
“The state House of Assembly accused El-Rufai of corruption and misappropriation and they set up a committee to investigate and that itself was a huge slap on El-Rufai face.
“El-Rufai felt betrayed that Uba Sani whom he took a bullet for made a senator, and governor could not stand up for him. What really hurt him was that he has being pencilled down as the Minister of Power by Tinubu but when his nomination was suspended by the Senate they went to meet President Tinubu not just for El-Rufai but for Festus Keyamo. They cleared Keyamo but failed to clear El-Rufai for supposed security petitions and since that time El-Rufai has become bitter. El-Rufai felt that any petition written against him should have been waived and his nomination confirmed. There is nothing that El-rufai says that is new.
“El-Rufai is right. He is not saying anything new. But he would not say these things if he had gotten his ministerial nomination,” he said.
When asked if El-Rufai might be trying to push his political ambition as president, Ojo expressed doubt that El-Rufai was strong enough to challenge Tinubu.
“Can El-Rufai our of power wield such an influence over Northern Nigerians? he has made so much enemies. Am not sure he is a political threat to the re-election bid of President Tinubu. Tinubu as I know him is a master strategist.
“Tinubu is a master strategist. Tinubu knows the value of Uba Sani. He prefers Uba Sani to El-Rufai.
“Tinubu does not want to run with it in that El-Rufai is a nuisance or is of no effect. There is a saying a leper might not be able to milk a cow but he can spill the milk. But if you ask Tinubu to choose between El-Rufai and Uba Sani he will choose Uba Sani.
“Some people advised Tinubu not to allow the nomination of El-Rufai to fly that he is a lesser evil in the whole permutation of 2027.
“I am not taken in by all the activism and heroism of El-Rufai because if there is a reshuffle and El-Rufai is made a minister he will not be speaking this way. El-Rufai was a former loyalist of Atiku, then he became loyalist of Obasanjo and then became a loyalist of Buhari. You should not believe people like that. How many ministers have resigned out of conviction of this government is bad let me just resign,” he added.
[NaijaNews]
In 2025, the cost of living in Nigeria varies greatly between cities, with some urban areas being much more expensive than others. This difference in living costs is due to factors like business activity, demand for housing, available services, and local resources. Some of Nigeria’s most expensive cities are major centers for business, politics, and industry, where the high demand for goods and housing has led to rising costs.
Here are five most expensive cities to live in Nigeria in 2025:
1. Lagos
Lagos is the most expensive city in Nigeria in 2025. As the country’s business and economic hub, it attracts many businesses, which drives up the demand for housing and services. This has made living in Lagos costly, with high rent prices. Known for its busy city center and wealthy neighborhoods like Ikoyi and Victoria Island, Lagos also has expensive food, transportation, and other daily costs. With a Rent Index of 24.30, Lagos is even the most expensive rental city in Africa.
2. Abuja
Abuja, Nigeria’s capital city, is another high-cost city in 2025. Being the political heart of the country, it draws government officials, international workers, and business professionals, all contributing to the city’s high living costs. Expensive areas like Maitama, Asokoro, and Wuse are filled with luxury homes, and the prices for goods, services, and transportation remain high, making Abuja a costly place to live.
3. Port Harcourt
Port Harcourt, the oil capital of Nigeria, ranks among the most expensive cities to live in 2025. The city’s strong oil industry brings in workers and businesses from all over, which increases demand for housing and services. Popular areas like the Government Reserved Area (GRA) are known for their expensive properties. Along with high rent, costs for goods, transportation, and other services are also elevated due to the city’s economic growth.
4. Enugu
Enugu, known as the “Coal City,” has become more expensive in recent years. The city is growing as a commercial center, with more people moving in for work and business opportunities. This has driven up housing costs, especially in the city’s more popular areas. As Enugu continues to develop with more businesses and infrastructure, living expenses, including food, transportation, and utilities, have also increased.
5. Owerri
Owerri, the capital of Imo State, has seen a rise in living costs in 2025. The city’s growing economy, especially in real estate and services, has led to higher property prices and rent. Areas like Nekede, New Owerri, and World Bank Road are becoming expensive as demand for housing increases. Prices for goods and transportation have also gone up, making Owerri one of the most expensive cities in Nigeria.
[TheNation]
The Chief Executive Officer of Micheno Multi-Purpose Cooperative Society, Uno Eke, has been sentenced to one year in prison for conspiracy, obtaining property by false pretence, and money laundering amounting to N2bn.
This was disclosed in a statement by the Economic and Financial Crimes Commission on its verified X handle on Saturday.
The statement revealed that Eke was convicted by Justice Rosemary Oghoghorie of the Federal High Court in Calabar, Cross River State, after pleading guilty to four amended charges preferred against him by the Uyo Zonal Directorate of the EFCC.
The statement partly read, “Justice Rosemary Dugbo Oghoghorie of the Federal High Court sitting in Calabar has convicted and sentenced the Chief Executive Officer, Micheno Multi-purpose Cooperative Society, Uno Michael Eke to 1-year imprisonment for conspiracy, obtaining property by false pretence and money laundering to the tune of N2bn.”
The EFCC detailed the charges against Eke, with Count One stating: “That you, Uno Michael Eke (being the President/Chief Executive Officer of Micheno Multi-Purpose Cooperative Society); Registered Trustees of Micheno Multi Purpose Cooperative Society, MMCS, Aya Kanu Aya, (Alias Mbakara) being the Vice President of Micheno Multi-Purpose Cooperative Society (now at large), sometime between June and August 2018 in Calabar within the jurisdiction of this Honourable Court, conspired among yourselves to commit an offence to wit: obtaining property by false pretence and you thereby committed an offence contrary to Section 8 (a) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act’.”
Another charge read, “That you, Uno Michael Eke (being the President/Chief Executive Officer of Micheno Multi-Purpose Cooperative Society), Registered Trustees of Micheno Multi-Purpose Cooperative Society, MMCS, Aya Kanu Aya (Alias Mbakara) being the Vice President of Micheno Multi-Purpose Cooperative Society (now at large), on or about the 12th day of July 2018 in Calabar within the jurisdiction of this Honourable Court, with intent to defraud, did obtain the sum of Two Million Naira (N2,000,000.00) from one Kubnse Ogar Ebute by inducing her to invest the money into your Swiss golden packages through your Micheno Multi-Purpose Cooperative Society Ltd under the false pretence of paying her 80% as return on investment on her principal sum on the 40th day of his investment, which you knew to be false and thereby committed an Offence contrary to Section 1 (1) (b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”
Eke pleaded guilty to the charges when they were read to him in court.
The prosecution counsel, Joshua Abolarin, urged the court to convict him based on the charges, while the defence counsel, Ime Umanah, pleaded for a lighter sentence, citing a plea bargain agreement.
“The judge, after considering the plea of the convict and evidence before the court, convicted and sentenced Eke to one-year imprisonment or an option of fine of N2m.
Also, the convict was ordered to forfeit the following to the Federal Government of Nigeria: 12 flats of two bedrooms each located at Goodluck Jonathan bypass, Calabar, Cross River State, two plots of land (4.162 hectares and 3.391 hectares) both located at Adiabo Ikot Mboout Community Land, Odupkpani Local Government Area, Cross River State, two plots of land located at Akai Effa, Calabar Municipality, Cross River State and 18 self-contained flats (storey building), located beside University of Calabar, Ita-Agbor, Calabar, Cross River State and N10m recovered during investigation”, the statement further stated.
The court further ordered that all recovered funds be restituted to the victims of the fraud.
“Eke’s road to the Correctional Centre began when he was arrested for collecting huge sums of money from different unsuspecting victims with a promise of 80% return on investment within 40 days.”
Investigations revealed that Eke operated multiple bank accounts where he received N2bn from his victims, which he then used to acquire landed properties and houses in Calabar.
Son of General Sani Abacha, Nigeria’s former military ruler, Sadiq Abacha, has expressed admiration for his late father, stating that his leadership remains significant despite persistent scrutiny.
Sadiq, in a Facebook post on Saturday, suggested that his father was a victim of jealousy and subtle betrayal but insisted that history would ultimately be kind to him.
“The man Abacha—you have always been the one they envied with silent deceit. History shall remember you for being a better leader, no matter how much they try to put you down. As a son, I am most proud of you today. You indeed are the man they wish they were half of”, he wrote.
He ended his message with a Hausa proverb: “Duk wanda yayi jifa a kasuwa,” which translates to “whoever throws a stone in the market…”—a phrase often interpreted as a warning that actions have consequences.
Sadiq’s statement comes just days after the launch of the long-awaited memoir by former military President, Ibrahim Babangida, which has triggered extensive discussions.
A major highlight of the book is the controversial annulment of the June 12, 1993, presidential election, which Babangida admitted was won by MKO Abiola.
The former leader disclosed that while he regretted the decision, the move was largely orchestrated by forces within his government, allegedly led by Abacha, without his full awareness.
The late Abacha, who ruled Nigeria from 1993 until his passing in 1998, remains one of the country’s most debated figures.
While his government is credited with economic stabilisation and strong security policies, allegations of corruption and human rights violations continue to shape his legacy.
[Punch]
A former Governor of the Central Bank of Nigeria, Godwin Emefiele, has denied the ownership of some funds and property forfeited to the Federal Government on the order of the Federal High Court in Lagos.
Justice Yellim Bogoro of the Federal High Court in Lagos on Friday ordered the final forfeiture of $4.7m, N830m, and multiple properties said to be linked to the former apex bank boss.
The judge, who had earlier dismissed an application brought by an interested party seeking to stop the judgment from being delivered, granted the final forfeiture application filed by the Economic and Financial Crimes Commission.
Reacting in a press statement issued late Friday by Olawale Fapohunda on behalf of his legal team, Emefiele also distanced his immediate family from ownership of the said properties and funds.
While admitting that part of the assets belonged to his relatives, Emefiele asked those associating him and his immediate family with the assets to stop doing so in the interest of fairness.
The former CBN governor stated that a company, DeepBlue Energy Limited, established in 2009, is owned by his relative and not himself, as being peddled in the media.
He stated that Justice Aneke of the same Federal High Court, Ikoyi, Lagos, had previously discharged an interim forfeiture order on the same assets, which is now ordered to be forfeited by Justice Bogoro.
The statement read in parts, “Our attention has been drawn to recent news reports indicating that Justice Bogoro of the Federal High Court, Ikoyi, Lagos, has granted a final forfeiture order on certain properties allegedly linked to one Anita Joy Omoile and her companies, including DeepBlue Energy Limited.
“It is important to clarify that DeepBlue Energy Limited, established in 2009, is owned by a relative of our client, Mr. Godwin Emefiele, but not by Mr. Emefiele himself.
“For the avoidance of any doubt, we, as the legal representatives of Godwin Emefiele, categorically disassociate our client from the ownership of the assets in question.
“For emphasis, the assets in question do not belong to our client or any member of his immediate family.
“Furthermore, information reaching us suggests that Justice Aneke of the same Federal High Court, Ikoyi, Lagos, had previously discharged an interim forfeiture order on the same assets now forfeited by Honourable Justice Bogoro.
“We urge all stakeholders and members of the public to take note of this clarification and stop associating these assets with Mr. Godwin Emefiele.”
Ukrainian President Volodymyr Zelensky is “not ready” to sign a deal that would give the United States preferential access to his country’s rare earth minerals, a Ukrainian source told AFP.
US President Donald Trump wants Ukraine to give US companies access as compensation for the tens of billions of dollars of aid delivered under his predecessor Joe Biden.
Mike Waltz, Trump’s national security adviser on Friday predicted that Zelensky would sign the deal soon, but the contours of the proposed agreement have not been made public.
“In the form in which the draft is now, the president is not ready to accept, we are still trying to make changes and add constructiveness,” a Ukrainian source close to the matter told AFP Saturday.
“There are no American obligations in the agreement regarding guarantees or investments, everything about them is very vague, and they want to extract $500 billion from us.”
“What kind of partnership is this? … And why do we have to give $500 billion, there is no answer,” the source added.
The source said that Ukraine had offered amendments.
Ukraine is seeking security guarantees from the United States as part of any deal signing away its natural resources and critical minerals.
The disagreement over the deal comes amid a war-of-words between Zelensky and Trump, who branded his Ukrainian counterpart a “dictator” in a social media post earlier this week.
[Vanguard]
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Hashim Abioye, chairman of the Osun State Independent Electoral Commission (OSSIEC), has accused the police of arresting election officials and blocking journalists from covering the local government elections.
In a video shared on X, Abioye said several OSSIEC officials were detained while on their way to polling units on Saturday.
He also alleged that police officers sealed off the commission’s office, preventing journalists from collecting accreditation tags and jackets needed to cover the election.
Abioye, however, assured voters that materials had been deployed to affected areas, adding that there were sufficient resources on the ground to proceed with the election.
He also apologised to journalists for the accreditation issues, attributing them to the police sealing off the commission’s office.
“So far so good, the reports have been positive and the conduct has been very smooth and peaceful as against the false alarm raised by the police. Everywhere is calm,” Abioye said.
“The only thing is that in some of the areas in which materials are supposed to have arrived for voters to cast their votes, we had reports of police arresting our officials.
“I don’t know on whose order because there is no court order that warranted the arrest of officers of our officials.
“As it is, we have deployed materials to those units because we have enough on the ground.
“For our people in the media community, I want to apologise for the inadequacy on the tags and the jackets because we have enough but the police sealed our office and that was not warranted at all.”
[TheCable]
Options available to Nigeria’s opposition leaders and political parties ahead of the 2027 general elections are somewhat limited, but they’ve shown signs of not giving up.
With the next election in about two years, opposition politicians have already started hoarding together and speaking out against the current administration’s policies and decisions.
“Any sign of unity among the opposition attracts institutional attacks from the ruling party. You come out with your plans, they plant their people. The much as I can say for now is that registering a new political party is off the table.”
We must make sacrifices and come together for Nigeria- LP
National Publicity Secretary of the Labour Party (LP), Obiora Ifoh, said, “We all should learn from what happened to us as opposition in 2023.
“In spite of the electoral heist by the ruling party, imagine if all the votes that went to opposition parties went to one candidate. It will be nearly impossible for INEC and the APC to do what they did.
“Going forward, opposition parties and leaders must unite, make sacrifices to liberate our country. This is more than the personal ambitions of individuals or their political platforms.
“There is no need seeking to register a new party, the LP is here. This is a party that in less than eight months caused a major upset nationwide. For those of us in opposition, it is either we make sacrifices and come together or fizzle out and give the ruling party a free reign.
What we must do as opposition to succeed- Ameh
National Secretary of the Conference of United Political Parties (CUPP), Chief Peter Ameh, told Saturday Vanguard that the ruling party has infiltrated the rank and file of the opposition.
Ameh said, “The opposition’s woes are compounded by the lack of internal political party processes.
“Atiku, Obi, Kwankwaso are all qualified to be president but should not allow their personal ambitions take precedence over the collective goal of defeating the APC.
“If the opposition intends to win then they must all align themselves to the existing gentleman’s agreement between the North and South which rooted in power rotation so that the ability to mount a credible challenge is not compromised by any other interest.
“However, all is not lost. There is a growing recognition among Nigerians that the country needs a viable opposition to hold the ruling party accountable.
“The gentleman’s agreement between the south and north to take turns ruling the country could provide a basis for unity among opposition parties.
“ If the South is indeed due to produce the next President, then opposition parties must be willing to make concessions and rally behind a single candidate that has the potential to defeat the incumbent president.
“Historically, opposition parties have played a crucial role in shaping Nigeria’s democracy. During the Second Republic, the late Chief Obafemi Awolowo, as the Leader of the Opposition, provided a robust check on the ruling party’s excesses.
“ His example shows that a strong opposition can make a real difference in promoting good governance and accountability.
“To revitalize their fortunes, opposition parties must put aside their differences and work towards a common goal.
“They must also engage in robust policy debates and offer credible alternatives to the ruling party’s policies.
“As noted by many political observers, opposition politicians are already meeting and strategizing under various platforms.
“This is a step in the right direction, but more needs to be done to build a united and effective opposition.
“while the outlook for the opposition in Nigeria appears bright, there are still more work to be done.
“By uniting behind a single candidate, engaging in policy debates, and offering credible alternatives, opposition parties can revitalize their fortunes and provide a robust check on the ruling party.
“The 2027 election may yet provide an opportunity for the opposition to reclaim its relevance and shape Nigeria’s democratic future.”
Some possible options for the opposition include: Rebranding and Reorganization. Political pundits argue that the opposition needs to revamp its image and structure to appeal to a wider audience and build a stronger support base.
It also needs to build coalitions and form alliances now more than ever before to create a united front against the ruling All Progressives Congress (APC).
The political camp of Atiku Abubakar, one of the leading opposition figures is upbeat about the possibility of the opposition causing an upset come 2027.
A source within the camp who pleaded anonymity because he was not authorized to speak on the matter, explained that Atiku, like other opposition leaders, is conscious of the issues at stake.
The source said, “Atiku like his colleagues in opposition is fully aware of what is at stake. At this point, the issue of position sharing is not on their minds.
“What is on their minds is not about who will be President or Vice President, it is about saving our country from an avoidable catastrophe staring us in the face.
“Just watch and see. There’s a serious realignment of forces coming. This is unlike what has happened in the past because as a nation we are facing an existential threat. What we will do will be different from what we did in the past.
“We have a President who is becoming a full-blown dictator. Discussions have gone very well and very far, about stopping him. Details of what we’re doing and how far we’ve gone are not what we would want in the media space for very obvious reasons
Christian Oladimeji, an assistant superintendent of immigration (ASI), was “accidentally” shot by a police officer in Minna, Niger state.
Zagazola Makama, a counter-insurgency publication focused on the Lake Chad region, reports that the incident occurred around 12:30pm on February 21, after suspected hoodlums attacked a police patrol team recovering stolen materials.
According to the report, a surveillance patrol team from the ‘A’ division police command in Minna, led by Ibrahim Paiko, was on routine patrol near Obasanjo complex when they encountered a group of road construction workers carrying iron rods suspected to have been stolen.
Upon sighting the officers, the workers, who were about seven in number, abandoned the materials and fled.
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“As the officers attempted to recover the abandoned iron rods, they were suddenly attacked by other road construction workers and hoodlums, who threw stones and other objects at them,” the report reads.
“The assault also damaged the Dangote patrol vehicle used by the police.”
Makama reported that in an attempt to prevent the officers from being overrun, Ibrahim Audu fired a shot, which accidentally struck Oladimeji, who was riding on a motorcycle.
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“The bullet hit Oladimeji on the lap, causing her to fall from the motorcycle and sustain additional injuries,” the report added.
Makama said the officer was rushed to the IBB specialist hospital in Minna, where medical personnel confirmed that although no bullet fragments remained in her body, she suffered a waist fracture.
“She is currently receiving medical attention, and doctors have assured that she is in stable condition,” Makama stated.
The publication noted that several suspects have been arrested for questioning, while disciplinary measures have been initiated against the officers involved.
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Meanwhile, authorities have urged residents to remain calm as security agencies work to maintain law and order in the state.
“We are conducting a thorough investigation into the incident, and necessary actions will be taken,” a security source was quoted as saying.
Nasir el-Rufai, former governor of Kaduna, says Atiku Abubakar, ex-vice-president, deserves credit for spearheading economic reforms during the Olusegun Obasanjo administration.
Abubakar was vice-president in the Obasanjo government from 1999 to 2007.
He was also tasked with overseeing the privatisation of national assets, with the Bureau of Public Enterprises (BPE) headed by el-Rufai, also within his purview at the time.
Speaking during a condolence visit to the family of Edwin Clark, the elder statesman and Niger Delta advocate who died on February 17, el-Rufai said Abubakar deserves flowers for economic policy making under Obasanjo.
“Nobody gives Alhaji Atiku Abubakar the credit for economic policy making under the Obasanjo administration. Many of the things we did, we did under his leadership,” el-Rufai said.
“Maybe because we don’t write about it, and people don’t read history, we tend to forget. We only remember negative things. Maybe it’s part of human nature.”
In 2016, el-Rufai launched a scathing attack on Abubakar, accusing him of being an expert in spreading falsehood.
He also said Abubakar was haunted by “demons of corruption”.