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CBN warns against bitcoin investment.

The Central Bank of Nigeria on Wednesday cautioned Nigerians to be wary of investments in cryptocurrencies, stating that virtual currencies were not legal tender in the country.

The apex bank said in a statement issued in Abuja that cryptocurrencies such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin and Onecoin, and exchanges such as NairaEx, were not licensed or regulated by it.

The statement signed by the bank’s Acting Director, Corporate Communications, Isaac Okorafor, explained that dealers and investors in any kind of cryptocurrency in the country were not protected by law.

It added that since they were not protected by law, such investors might not be able to seek legal redress in the event of failure or collapse of the business.

The apex bank warned Nigerians against investing in cryptocurrencies as doing so would be at their own risk.

The bank had on January 12, 2017, issued a circular to banks and other financial institutions on virtual currency operations in Nigeria.

In the circular signed by the Director, Financial Policy and Regulation Department, Kevin Amugo, the CBN had, among other issues, noted that virtual currencies were traded on exchange platforms that were unregulated all over the world.

It noted that transactions in virtual currencies were largely untraceable and anonymous, thereby making them susceptible to abuse by criminals for money laundering and financing of terrorism.

Abia Warriors chose Krisdera Stadium as home ground

Abia Warriors football club of Umuahia has chosen the Krisdera Hotel Stadium, Omoku, Rivers State as their temporary home ground in the on-going 2017/2018 Nigeria Professional Football League Campaign.

The Umuahia based football club made this known through the club’s Twitter handle on Friday.

Although no reason was given for this, Krisdera Hotel Stadium is the home ground of the Omoku-based Go Round FC.

Abia Warriors currently sit at no 16 on the league table while Go Round sit at no 19.

First Maritime Engineering Center of excellence takes off.

The Centre of Excellence (CoE) in Marine Engineering and OffshoreTechnology established by the Shell Petroleum Development Company of Nigeria Ltd (SPDC)-operated joint venture at the Rivers State University (RSU) is set to open its doors to the pioneer students who are currently being screened in an elaborate admission process, according to a Shell statement.

More than 100 candidates applied in response to newspaper advertisements, and the shortlisted ones are being screened and interviewed preparatory to commencement of studies in April.

“We continue to thank NNPC and SPDC for being part of our success story at the university,” RSU Vice Chancellor, Professor Blessing Didia, said at the start of the admission interviews.

“We are very happy that the centre has taken off, and we congratulate NNPC, SPDC and the other joint venture partners for what they have done for the university.”

Also speaking, the Head of University Relations, SPDC, Professor Edmond Allison-Oguru, expressed the hope that the Centre of Excellence would bring the much-needed improvement in marine engineering and offshore technology in the Niger Delta.

The company also said that the CoE in Marine Engineering and Offshore Technology, the first in Nigeria, will run 18-month Master’s and Diploma programmes, covering classroom lectures, practical sessions, term project modules and a six-month internship in the oil and gas industry.

The multi-million-naira facility was inaugurated in June 2017, during which SPDC Managing Director and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, pledged that it would produce industry-ready Master’s degree graduates to further advancements in Nigeria’s offshore technology sector.

The SPDC JV had earlier established a CoE in Petroleum Engineering and Geosciences at the University of Benin, and endowed six professorial chairs in Nigerian universities as part of the support for the academia.

In 2016, a Chair in Light Weight Automobile Engine Development was established at the Federal University of Petroleum Resources in Effurun, Delta State, which is expected to contribute to the growth of local content in Nigeria’s automobile industry.

Also, research at the Shell Professional Chair in Petroleum Engineering at the University of Port Harcourt in 2012 produced the Optiwell well-bore stability software. Use of the software has significantly reduced drilling time as well as costs associated with mud loss and other drilling challenges.

The support for universities is implemented along with other social investment schemes of the SPDC JV, which include the Shell Eco Marathon, the Sabbatical and Research Interns Scheme, Research and Development Grant for competitive proposals and Data support for academic activities from undergraduate to doctoral levels.

Chinese condoms too small for our men – Zimbabwe’s health minister.

Zimbabwe’s minister for health has called on the county’s manufacturers to start producing condoms after claiming Chinese imports are too small for the local population.

Health Minister David Parirenyatwa made the comments last week at an awareness event in the capital Harare, according to local media. Despite having one of the highest rates of HIV/AIDS infection in the world, most of the condoms in Zimbabwe are imported from China.

According to Parirenyatwa, the imported prophylactics are not fit for the task. “Youths now have a particular condom that they like, but we don’t manufacture them,” the minister said. “We import condoms from China and some men complain they are too small.”

The politician challenged local companies to start manufacturing indigenous condoms instead of relying on Chinese imports. “You need to be able to have your own condoms,” Parirenyatwa said. “If you want to be a big businessman, then manufacture them for the region.”

In response, one Chinese condom manufacturer announced that it is planning to produce condoms of different sizes to satisfy demand. Speaking to the South China Morning Post, Zhao Chuan, chief executive of condom manufacturer Beijing Daxiang, said the company has “the ability and the obligation” to provide condoms of an appropriate size. “We have started to do some surveys on users’ data in the region to make preparations for future products,”he said.

Zimbabwe has some of the worst rates of HIV/AIDS infection among countries in sub-Saharan Africa, with an estimated 13.5 percent of adults in the country infected with HIV. Condoms are a crucial factor in stopping the spread of infection. The country is one of the top five importers of the contraceptive in the world. According to UNAIDS, the number of new HIV infections has almost halved and AIDS-related deaths decreased by 45% since 2010.

Port Harcourt to host Energy and New Green Technology Conference

Energy and Green Technology

The Garden City of Port Harcourt is set to host The Energy and New Green Technology Conference with the theme: ‘The Future of Hydrocarbon Industry in the New Age of Green Technology` at the Hotel Presidential.

The event will provide a platform for articulating a proactive response to the seemingly irreversible disruption to the hydrocarbon industry, according to Alfe City Company Ltd who are the organizers.

Among key speakers expected at the event that will attract major stakeholders in the economy are Prof. W.J. Okowa, Dr. Eddie Wikina, Prof. P. A. Olomola, Prof. R A. Olowe, Engr. Don Boham and Dr. Adebayo Adedokun.

The conference with provision for the exhibition of new green technology products and services and Regulators Clinic is targeted at participants from Oil & Gas Companies; Petrochemical Companies; Services Companies; Financial Institutions; Regulators; Federal Government; State Government; Oil Producing Areas Development Authorities; and Insurance Companies.

Among the sub-themes of the conference which industry experts will do justice to include: A perspective on the evolution of the hydrocarbon Industry and its role in the industrialised global economy; The recent emergence e of the new green technology and its potential impact on the future of the energy trade; The direct cost of the new green technology industry on economies like Nigeria that are almost wholly reliant on the hydrocarbon Industry; Managing the immediate to short term effects of the new green Technology on the economies of countries like Nigeria whose economic prospects are tied to the fate of the hydrocarbon Industry; The roles of government and regulators in managing the transition from a hydrocarbon based economy to a new green technology environment; Deciding on a new template and business module in a green technology economy.

According to Mr. Soji Adeleye, Chief Executive Officer, Alfe City Company, “one of the most important decisions being discussed right now at both the policy level and corporate headquarters across the Globe is what to make of the inevitability of the new green technology and potential demise of the energy trade as we know it.

“In the case of economies like Nigeria that hitherto had relied almost exclusively on hydrocarbon industry for their economic survival, the issue is existential.

“This conference will bring this existential discussion into focus for three days. Distinguished experts in the sector and renowned economists are scheduled to bring their considerable wealth of Industry experience to bear on the subject with a view to channeling a way forward.”

He listed other objectives of the conference to include, exploring the role hydrocarbon energy has played in the global economy industrialization; exploring the politics of oil and the emergence of the new green technology; channeling a path for a possible coexistence of hydrocarbon business and the new green technology; for bringing industry operators, regulators, government, and other industries together for a look at the future of the hydrocarbon Economy.

“The global collapse of the crude oil market in the recent time demands a rigorous analysis particularly in a place like Nigeria that derives almost all of her foreign exchange earnings exclusively from hydrocarbon, the Alfe City boss said.

“This specialist conference would attempt to put into focus the role hydrocarbon energy has played and continue to play in the world economy. It would also consider the critical circumstances of countries like Nigeria that did not leverage the considerable wealth accumulated from oil to diversify their economy.

“The technical content will be handled by seasoned international experts in the industry who are expected to proffer plausible solutions for industry operators, government, and regulators on how best to confront the inevitable transition to the new green technology.”

Diobu residents decry PHED’s inhumane treatment

Residents of Diobu have cried out against management of Portharcourt Electric Distribution, PHED, for the company’s inability to provide the area with electricity.

The angry residents who spoke to a TPCN correspondent, stated that the area has not had electricity for two weeks.

The residents said that the inhumane treatment by the power distribution company has made life in the area unbearable and has affected businesses.

However, a representative of the power distribution company said that the company does not generate power but only distribute amounts allocated to it.

He maintained that the waves of protests against the company in Portharcourt is unnecessary as it is a national problem stating that the company has begun rationing power so that it will get to every household.

The residents threatened to protest to PHED office at D-Line if the company does not provide the area with electricity.

Payment of salaries is a priority – Wike

Rivers State Governor, Ezebunwo Nyesom Wike, has said that payment of salaries should be given maximum priority in the state.

Governor Wike said this during the swearing in of 15 Local Government Caretaker Committee Chairmen who had been screened and confirmed by the State House of Assembly.

The Governor Wike charged the caretaker committee chairmen to pay the salaries of local Government workers for December 2017, January 2018 and February 2018.

He explained that the funds were not released to the immediate past council administrators because the tenures of the former councils had expired.

He said: “The payment of salaries of workers must be given priority attention. As you take over the councils , pay the outstanding three months salaries”

Governor Wike also charged the urban local government areas especially PHALGA and Obio Akpor to focus on sanitation of different suburbs. He urged the chairmen to engage youths to promote environmental sanitation.

He stated that any caretaker committee chairman involved in using council funds to service his political godfather will be sanctioned.

Nigeria Sues Alabama State University Over Scholarship Scandal

The Nigerian government has dragged a university in the United States, the Alabama State University, to court for allegedly mishandling the scholarship meant for students’ rent, books and food.

According to a BBC report, Nigeria is also accusing the university of charging them for accommodation they did not use and lessons they did not take.

But the university has denied the allegation, telling local media it had “adhered to and complied with every instruction and direction given to the university by the Nigerian government regarding that agreement.”

It admitted that the Nigerian government was owed $202,000, saying it had been deposited into an account.

But Anthony Ifediba, who represents the students, said they believed the university might have withheld as much as $800,000.

He told the Montgomery Advertiser that the Nigerian government had paid Alabama State University about $5m, which was meant to cover tuition and living costs for all the students.

“I hope it will sober the Alabama State University up, and its new President, to realise that what these students are talking about is very serious and it’s having an adverse effect on them legally and I’d imagine public relations-wise,” he stated.

Mysterious deaths strike fears in Uganda

Mysterious deaths of foreigners and locals are stoking fears in Uganda about crime amid an ongoing feud among the country’s security agencies, and now the president is weighing in.

In the past month four Europeans have been found dead in the East African country. Police say a Finn and a Swede whose bodies were discovered separately in their hotel rooms in the capital might have been murdered. The third case is of a Belgian man who reportedly killed himself. In the fourth case, a German man is said to have suffered a heart attack.

And earlier this week, the body of a young local woman was found dumped along a highway, the victim of kidnappers who had chopped off two of her fingers and sent them to her family in a bid to force them to pay $1 million.

That case has shocked many in Uganda, where security is often cited as one of the strengths of longtime President Yoweri Museveni, who has relied heavily on the security forces and multiple intelligence agencies to stay in power.

Museveni on Wednesday called for the collection of the “DNA records of everybody” in a bid to stem the crime rate, and is vowing to catch the young woman’s killers.

“I will not allow anybody to interfere with the freedom of our young people,” the president said.

But critics of Museveni, a U.S. ally on regional security who took power by force in 1986, say he is no longer as firmly in charge as he once was and that criminal gangs are exploiting feuds within his security agencies over money and power.

Last month Museveni acknowledged a fight among some leaders of the security agencies and urged them to stop.

“The fighting is about money,” lawmaker Ssemujju Nganda told The Associated Press. “I was joking with a friend that I don’t know if I am going to be killed by the Internal Security Organization or the police. Criminal gangs have taken advantage of their laxity.”

Local newspapers, including the government-backed New Vision, have published reports of a tussle between the police and the Internal Security Organization, a domestic spy agency that reports to Lt. Gen. Henry Tumukunde, a rival of the police chief, Gen. Kale Kayihura.

In recent months, some of Kayihura’s perceived allies have been arrested and charged with crimes such as abduction, signaling the police chief is out of favor with the president.

“Ultimately it’s a question of governance. The lawlessness is caused and helped by poor governance,” said Ladislaus Rwakafuuzi, a local human rights lawyer. “When some people are given license to terrorize others with impunity that’s because they proclaim to be protecting one person in power.”

Opposition leaders in Uganda are frequently arrested and jailed when they try to hold rallies. Kizza Besigye, Museveni’s main opponent since 2001, has been arrested hundreds of times but never convicted of a crime. Some Ugandans cite these political arrests in accusing the security forces of failing to focus on solving murders and other serious crimes.

Between June and September last year at least 20 Ugandan women were killed in the area surrounding the capital, Kampala. Most of those cases have never been solved.

“This business of kidnapping and asking for money, I only used to see it in the movies,” said Dan Katumba, who operates a passenger motorcycle in Kampala. “Now it is happening here in Uganda. Can you believe it?”

Wike to Odufor Youths: Cooperate with Contractors.

Rivers State Governor, Nyesom Ezenwo Wike, has urged the youths of Odufor community to cooperate with the contractor handling the ongoing road project in the area, to ensure timely completion of the project.

Governor Wike who made the appeal, at the official flag off the construction of the Odufor-Akpoku-Umuoye Road in Etche Local Government Area, equally urged the contactor handling the road project, to provide employment opportunities for the youths of the area.

“I want to plead with you to support the contractor, so that the contractor will be able to accomplish and finish this job on time.

“Money will not be a problem by the special grace of God. God has been helping us, we have never lacked and will never lack.

“Our youths continue to support the contractor. Do not molest them, they’re not oil company. They’re not coming here to drill oil. They’re only coming to construct road for us to use.

“And I want the company too to know that, part of what we’re doing is only to create employment for our people.

“There are certain supplies our people are competent to do, and our people should also be employed to work, so that they can find food on their table.

Rivers State Works Commissioner, Mr Dum Dekor said that the 23.3kilometre road has 20 culverts and will provide 550 direct employment opportunities for the people.

He said Odufor-Akpoku-Umuoye Road is a virgin road being constructed from start to finish by the Wike administration.

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