Odegaard

The 22-year-old has left the LaLiga giants in a bid to get regular football.

Odegaard played just nine times in all competitions for Madrid this season.

His decision to join the Gunners was aided by a chat with the Arsenal manager.

“I spoke to him (Arteta) before coming here, of course,” Odegaard told Arsenal’s website.

“That was very important for me and he seems like a top manager and I liked his ideas, the way he sees football and also the way he is.

“He gave me a great feeling and that was important for me to come here. He was crucial.”

The Norwegian midfielder will wear the number 11 shirt.

Reduction On Imported Vehicles Duties To Begin Next Week - Customs

Comptroller-General of Customs, Hameed Ali who told newsmen that they are expecting an official communication from the finance ministry on the matter, added that the vehicle tariff reduction is contained in the 2020 Finance Act and initiated by the NCS to ease the cost of transportation in Nigeria.

Hameed Said;

“We are the proponents of the new tariff. I’ve been torn apart by many people criticising it, saying I used my connection to get it done. But it is in the overall interest of Nigeria.

“Now, it has become a law. We are now waiting for the finance minister to give us a formal conveyance of that Act. Once we receive it, we commence implementation immediately and inform our commands.

“We are hoping that latest by next week, it will become operational.”

Court Admits More Evidence In Naira Marley's Fraud Trial

Justice Nicolas Oweibo in his ruling on Wednesday admitted the Compact Disk containing the phone analysis of the singer, tendered in evidence by the second prosecution witness Anosike Augustine on the ground that the iPhone which was analysed has been admitted in evidence before.

The judge overruled the objection of Naira Marley’s counsel Olalekan Ojo (SAN) and admitted the CD in evidence marked exhibit ‘F.’

“l have considered the agreement of both parties as well as the ground for the objection, I consider the CD to be admissible in view of the nature of this case and the evidence of other prosecution witness,” Oweibo said.

The trial of the case could not proceed because the defence counsel, Olalekan Ojo, was not in court and sought an adjournment.

The adjournment was not opposed by the EFCC’s counsel, Bilkisu Buhari.

Justice Oweibo adjourned the further trial to 8th and 11th of March, 2021.

Recall that the anti-graft agency had on May 20, 2019, arraigned Naira Marley on 11 counts of money laundering and Internet fraud.

The EFCC alleged that some of the credit cards discovered in his residence bore the names Nicole Louise Malyon and Timea Fedorne Tatar.

But he pleaded not guilty to all the charges.

The EFCC said that the offences contravenes Money Laundering (Prohibition) Act and the Cyber Crimes Act.

The monarch, alongside his entourage, arrived the Presidential Villa at about 10:am.

See Photos 

The legal team representing Instagram bigboy, Hushpuppi, in his trial for fraud in the United States, have applied to withdraw from his case.

Gal Pissetzky and Vicki Podberesky said Mr Abbass stopped communicating with them and has now retained new lawyers to defend him in the case.

The lawyers announced their decision after months of negotiations with the U.S. government, court documents obtained by Premium Times showed.

Earlier last June, the 37-year-old Nigerian , known for flaunting his opulent lifestyle on social media, was arrested in Dubai by special operatives, including Emerati police officers and Federal Bureau of Investigation (FBI) operatives.

The FBI said Mr Abbas financed his extravagant lifestyle with proceeds of crime.

He is alleged to be the leader of a mafia behind computer intrusion, business email compromise (BEC) fraud and money laundering.

He duped his victims, who are majorly in the U.S, of hundreds of millions of dollars, the FBI said.

Governor Samuel Ortom of the state of Benue has tested positive for COVID-19.

This comes after test results in the last few weeks were positive for most of the Governor's close aides.

Although the Governor is asymptomatic, as recommended by medical professionals, he has started COVID-19 medication.

In a statement sent by his Chief Press Secretary, Terver Akase, to DAILY POST, Ortom confirmed this.

The Governor told those who had been in touch with him to take the COVID-19 test in the last few days.

The Governor advised those who had come in contact with him in the last couple of days to go for COVID-19 test.

He stressed that it is equally important that those who came in contact with other persons who have tested positive for the virus should go for test to ascertain their COVID-19 status.

“Governor Ortom urged Benue people to continue to observe the protocol for the prevention of the virus such as wearing of face masks, use of sanitizers, regular handwashing and physical distancing.

“He admonished the people not to be scared of going for COVID-19 test as doing so would help curb the spread of the disease,” the statement added.

FIFA

Fulham’s forward Ademola Lookman is on top of the list.

Others on the list include:

* Jordan Torunarigha Hertha BSC

* Nathan Tella Southampton FC

* Tosin Adarabioyo Fulham FC

* Ovie Ejaria Reading FC

* Noni Madueke PSV

* Sheyi Ojo Cardiff City

* Ike Ugbo Cercle Brugge.

Ijaw Youth Council

The Ijaw Youths Council (IYC), yesterday, condemned the Federal Government for cancelling Oil Prospecting Licences (OPL) 2001, 2002 and 2003 awarded to companies owned by Niger Delta indigenes in spite of a court order restraining it from carrying out such action.

Speaking through its National Chairman on Strategy, Planning and Program, Comrade Isreal Fubara, the IYC while accusing the Federal Government of reawarding the OPL to another company through the Department of Petroleum Resources (DPR) expressed fears that such actions was capable of re-igniting chaos in the Niger Delta region.

In a statement made available to newsmen in Yenagoa, Fubara gave the names of the Niger Delta investors that were affected by the cancellation as Jahcon International Limited, Hi Rev Exploration,  Production Limited and  Oil and Industrial Services Limited.

The statement further explained that after the investors won the bids for the blocs in 2007, the bid round was stalled for eight years by litigation until it was resolved amicably in 2015, and that after the resolution, the DPR handed offers of OPLs 2001, 2002 and 2003 to Jahcon International Limited, Hi Rev Exploration and Production Limited and  Oil and Industrial Services Limited, respectively.

He noted that although the court had directed all parties to stay action with respect to working on the field, officials of the National Petroleum Development Company (NPDC) recently made moves to commence activities on the field.

Parts of the statement also read: "this is an act which is completely unacceptable under any form of government, especially in a democratic setting. This has again been demonstrated  by the actions of a multinational company in the the sites of OPL 2001, 2002, 2003 and 2004. The name of this company is Sterling Global.

"While we have been watching with keen interest and patience the battle in court for the just claims of some companies, it is very provocative that sterling global has decided to defy court orders and undermining the very legal process upon which our hopes and patience are built. 

"We have noted that sterling global in clear disrespect for the principles of fairness has attempted to claim oil fields that have been legally won in fair bids by other companies after which required payments have been made.

"That sterling global In defiance for the laws of this country and  in contempt of the court process has begun operational activities in those sites inspite of  standing court orders that the status quo be maintained. Report available to us even suggest that the activities of the sterling global is been done with the support of DPR. 

"Apart from the fact that the actions of sterling global are apparently provocative, illegal and contemptuous, it raises in our minds to few questions that border on social justice and the existential rights of the Niger Delta in Nigeria. We notice that only companies owned by Niger Delta sons have suffered cancellation of oil bloc allocation.

"If not so, why is the contract rights of a company be upturned at the whim and caprices of a few Government officials in clear contradiction to the contract laws of Nigeria as well as to the principles of a free market economy?

"In the absence of valid answers to our  questions our tentative conclusion to these questions is that once  a matter is connected to people in the Niger Delta it can easily be turned upside down since we are mistakenly considered as been  a minority people who are only entitled to lesser rights in the Nigerian state.            

"We make bold to state that if the persons who won the bids were from some sections of the country it would have been difficult for the government to reverse the licenses. We therefore demand that the relevant authorities stop, with immediate effect, the activities of Sterling Global in OPL 2001, 2002, 2003, 2004 with immediate effect."

Bill Gae

Data retrieved from Bloomberg showed that the 65-year-old billionaire holds $55.7 billion in the bank, while data retrieved from Nigeria’s apex bank points that the leading sub-Sahara economy holds $36.5 billion.

Bill Gates co-founded Microsoft, the world’s biggest software maker, and owns about 1% of the Redmond, Washington-based company.

The majority of the philanthropist’s revenue is derived from Cascade Investment, a holding company that was created with gains from Microsoft stock sales and dividends.

What you should know

• Based on an analysis of Bloomberg data, Bill Gates has earned more than $50 billion in stock and dividends, including a $3.3 billion payout from Microsoft in 2004, which he donated to his philanthropic foundation.

• He is currently the biggest shareholder of Canada’s biggest railroad operator, the Canadian National Railway.

• Bill Gates made his wealth when he simplified the computer operating system by creating Microsoft Windows, the leading operating system in personal computers globally today.
• For many years, Gates had been the world’s richest man. He now has a fortune of $134 billion with a 2021 gain of about $2.1 billion.
• Bill Gates’s current wealth valuation can presently buy 72.3 million troy ounces or 2.39 billion barrels of crude oil.

Bottomline

For Bill Gates, although the metrics above reveal he holds a significant amount of his wealth in cash, it’s important to note he has exposure in real estate, stocks, and collectibles, thus helping his wealth to grow.

But beyond that, many market experts opine that the rationale behind keeping so many funds in banks amid rising inflation is to fund his philanthropic missions as he donates much of his wealth to causes that help better the world.

CBN Gov. Emefele

The apex bank cited the negative impact of another lockdown on the economy as a major concern suggesting that sustaining the tepid economic recovery was perhaps a higher priority than curtailing the fast-spreading variant of the second wave virus via another lockdown.

The remarks were contained in the monetary policy communique read out by the central bank governor Godwin Emefiele following the end of the bank’s monetary policy committee meeting, the first for the year.

“While expressing understanding of the public health dilemma of the recent spike in infections, MPC encouraged Government not to consider a wholesome lockdown of the economy so as not to reverse the current gains of the stimulus earlier provided in 2020.” Emefiele

As of  January 26, 2020, Nigeria had a total number of Covid-19 cases of about 124, 299, and 1,522 deaths as the second wave continue to spread rapidly across the country. Since December 1st, Nigeria’s positive cases have risen by about 56, 742 cases (83% ) from about 67,557 on the last day of November 2021.

Specta

However, the central bank’s recommendations are hinged on the precarious state of the economy which is highlighted throughout a rather sobering MPC communique. In one statement the apex bank admitted that the rise in covid-19 cases was dragging economic recovery backward as more Nigerians become wary of socializing but the spate of economic recovery cannot be jeopardized.

According to the CBN “the outlook for the recovery, however, appears to be dampened by the second wave of the pandemic considering its intensity” yet it still maintained that the previous lockdown was the trigger for another recession.

“In the Committee’s consideration, it noted that the COVID-19 pandemic and the necessary measures put in place by the Government to forestall its public health impact, such as the lockdown and other associated restrictions, contributed to the Nigerian economy going into recession, much like almost every other country in the world.”

CBN Paints a gloomy picture of the economic recovery

The members of the monetary policy committee also detailed challenges to economic recovery being experienced by the country such as higher inflationary rates, weak PMI numbers, and an increase in non-performing loan ratios of commercial banks.

On increase in non-performing loans

“The Monetary Policy Committee (MPC), however, noted the marginal increase in the Non-Performing Loans (NPLs) ratio which rose to 6.01 percent at end-December 2020 from 5.88 percent at end-November 2020 and above the prudential maximum threshold of 5.0 percent. While noting that this development is not unexpected under the prevailing circumstances, it urged the Bank to strengthen its macroprudential framework to bring NPLs below the prescribed benchmark.”

On PMI numbers

The MPC noted with concern the continuing sluggish recovery in the Manufacturing and Non-Manufacturing Purchasing Managers’

Indices (PMIs), which remained below the 50-index point benchmark in December 2020, at 49.6 and 45.7 index points, respectively, compared with 50.2 and 47.6 index points during the previous month. This weak performance was attributed to the resurgence of the pandemic, foreign exchange pressures, increased costs of production, general increase in prices and decline in economic activities.

On Inflation

This uptick was attributed to the increase in both the food and core components of inflation, which rose to 19.56 and 11.37 percent in December 2020, respectively, from 18.30 and 11.01 percent in November 2020. This continued upsurge in food inflation was attributed to the logistical bottlenecks, spurred by the increasing security challenges in many parts of the country, which disrupted food production and supply to the market. Other factors driving the core inflation, include the recent deregulation of the downstream sector of the oil industry, which led to hikes in the price of Premium Motor Spirit (PMS) and the upward adjustment in electricity tariff.

What this means

As the economy slowly recovers from the Covid-19 induced lockdown, several of our major indicators still show there is trouble ahead. These 3 indicators are some of the most telling.

Higher non-performing loans, though expected are symptomatic of what businesses are currently going through as they strive to improve their balance sheet. With weaker sales and piling inventory most businesses will continue to struggle to meet up with their debt obligations increasing the number of non-performing loans in the country.

The Purchasing Managers Index is a critical bellwether for predicting when Nigeria gets out of the recession. As a compilation of how businesses are fairing, an index below 50 suggests we are far from a V-shaped recovery and could face a longer wait to get out of the current recession.

Nigeria’s galloping inflation rate and economic contraction have created stagflation that puts the economy in a rather precarious situation. Much of the causative factors for the rising inflation are outside of the control of the CBN suggesting a higher inflation rate could persist in the coming months.

The CBN indicates we could get out of higher inflation rates later this year, but not before it hit its peak as we expect the cost of goods and services to keep rising.

CBN Outlook

Despite the gloomy picture, the CBN expects the economy to recover this year provided the country continues with its economic stimulus.

Available data and forecasts for key macroeconomic variables for the Nigerian economy suggest further improvement in output

growth in the first quarter of 2021. This would be supported by the coordinated and sustained interventions of the monetary and fiscal authorities, including the broad-based stimulus and liquidity injections.

But to ensure its optimistic outlook for the economy comes through, the CBN is recommending that more efforts should be geared towards acquiring and distributing vaccines rather than shutting down the economy.

“Members thus agreed that the Committee’s current priority remains to quicken the pace of the recovery through sustained and targeted spending by the fiscal authority supported by the Bank’s interventions. In this light, it was thought necessary to increase collaboration with the fiscal authority by providing complementary spending to finance productive ventures in a bid to improve aggregate supply and reduce prices. This is in addition to effectively collaborating with the Presidential Task Force on COVID-19 through the existing private sector Coalition against COVID-19 (CACOVID) to procure and distribute vaccines to fast-track the pick-up of business activities and economic recovery.”

Olowu of Kuta and Buratai

The traditional ruler stated this today in a message of congratulations to the retired Army chief.

"The immediate past chief of Army staff ,Lt General Tukur Buratai is bowing out of the military with clean service records which aspiring officers should  emulate.." 

Oba Oyelude recalled the exemplary exploits of the immediate past chief of Army staff in the face of serious security challenges posed by Bokko Haram and other terror groups in different parts of the country.

While acknowledging the pressures of insecurity on the socio -economic and political health of the nation, the Royal father saluted the courage and commitment of the army led by the former chief of army staff towards preserving the peace,unity and territorial integrity of the country.

Oba Oyelude particularly noted the selfless service and dedication of General Buratai to the execution of government's national security  policy,especially in the areas of integration of Nigerians of diverse cultural, religious and political groups and ensuring that they co-exist within the ambit of the law.

The traditional ruler recalled the role of the former chief of staff Nigerian Army for responding positively to the wish of his subjects by constructing the link bridge between kuta and Ede which was left undone for several years..

The Olowu of Kuta described the positive response of the Nigerian Army to the construction of kuta-Ede bridge as "novel in community service" to which current and future generations of kuta indigenes will always cherish..

The traditional ruler commended president Muhammadu Buhari for giving General Buratai and his colleagues the opportunity to put in their best in the service of the nation.

While,wishing the retired Army chief blissful retirement, Oba Oyelude expressed hope that the incoming service chiefs will build on the legacies of their predecessors..

Late Abdulkadir Orire

DaOptimistic Info gathered that he died on Tuesday at the age of 87.

In a condolence message, Kwara state governor, Mallam AbdulRahman AbdulRazaq on his official Facebook page described the late jurist as an examplary leader who distinguished himself as erudite legal scholar, researcher, Muslim community leader and development activist.

He wrote:”Today, our state lost of one of its finest jurists, a founding father, and indeed a national statesman, retired Justice AbdulKadir Orire (CON), who was the pioneer Grand Khadi of the Kwara State Sharia Court of Appeal between 1975 and 1999. He died at the ripe age of 87.

I join all our people in Ilorin and across Kwara and Kogi States to mourn the passing of this exemplary leader who distinguished himself as an erudite legal scholar, researcher, Muslim community leader, and development activist.

I pray Almighty Allah to grant Baba al-Jannah Firdaus and comfort the family he left behind.”

Also, the Emir of Ilorin and chairman, Kwara state council of Chiefs, Dr Ibrahim Sulugambari described the deceased as a committed elder statesman who contributed immensely to the propagation of Islam.

The late justice Orire was the grand khadi of the Kwara state Shariah Court of Appeal between 1975 and 1999.

New Service Chiefs

Buhari had on Tuesday approved the resignation of the outgoing Service Chiefs.

The president commended them, while accepting their immediate resignation and retirement from service.

Buhari had applauded the immediate past Service Chiefs for their achievements in ensuring peace in Nigeria.

Following their resignation, the president immediately appointed Maj Gen LEO Irabor, CDS, Maj Gen I Attahiru, Army, Rear Adm AZ Gambo, Navy, AVM IO Alao, Air Force.

Below is the profile of some of the new Service Chiefs.

Major Gen Ibrahim Attahiru

Major General Ibrahim Attahiru is the latest Chief of Army Staff.

Attahiru who replaced retired Maj. Gen. Tukur Buratai was born on August 10, 1966 and hails from Kaduna State.

Prior to his appointment, Attahiru with Force number 8406 was the head of the 82 Division of the Nigerian Army.

In May 2017, the new COAS was appointed to lead the war against Boko Haram in the Northeast but was later replaced with General Nicholas Rogers.

Attahiru was redeployed by the then Chief of Army Staff, Lieutenant General Tukur Buratai after giving him a deadline in July to deliver Boko Haram leader Abubakar Shekau dead or alive within 40 days which he could not deliver.

The Chief of Air Staff, Air Vice Marshal Isiaka Amao

Prior to his appointment as Chief of Air Staff, Amao was the Commandant Armed Forces Resettlement Centre in Lagos State.

Amao was born on 14 September 1965 at Enugu but hails from Osogbo Local Government Area of Osun State.

The new Chief of Air Staff was enlisted into the Nigerian Air Force, NAF, on January 19, 1984 as a member of the 35 Regular Course of the Nigerian Defence Academy.

Amao previously served as Trainee/Squadron Pilot, NAF Unit 99 ACTG Kainji (1993-2004), Instructor Pilot/Squadron Pilot, 301 FTS Kaduna (2004-2007), Air Assistance to Chief of Air Staff, Deputy Defence Adviser, Nigerian High Commission London, Assistant Director of Operation Defence Headquarters, Director of Policy and Plans, Nigerian Air Force.

The senior officer has attended several military courses which include: Junior Division Course at Armed Forces Command Staff College (AFCSC) Jaji; Senior Division Course at Defence Services Staff College India; Defence Course at National Defence University China, Aircraft Accident Investigation in Civil Airline at NCAT Zaria and Aircraft Accident Investigation Course at Karachi, Pakistan.

The Chief of Naval Staff, Rear Admiral A.Z Gambo

Prior to his appointment by Buhari, Rear Admiral Awwal Zubairu Gambo was the Director of Procurement at the Defence Space Administration.

Gambo was born on April 22, 1966 and hails from Nasarawa Local Government Area of Kano State.

The new Chief of Naval Staff got enlisted into the Nigerian Navy on September 24, 1984 as a member of Regular Course 36 and was commissioned Sub-Lieutenant on September 24, 1988.

Gambo is an underwater Warfare specialist with a subspecialisation in Intelligence.

He also attended several military courses which include, Sub-Technical course and Officers Long course both at NNS QUORRA. He also attended Junior Division 48/89 and Senior Course 26 both at AFCSC Jaji.

He also attended the National Defence Course at the South African National Defence College.

Chief of Defence Staff, Maj. Gen. Leo Irabor

Maj. Gen Leo Irabor is the latest Chief of Defence Staff and a member of the Regular Course 39 of the Nigeria Defence Academy, NDA.

Irabor, a trained engineer, was the Commander of Army’s Training and Doctrine Command, TRADOC, with headquarters in Minna, Niger State.

The new Chief of Defence Staff, Major General Leo Irabor, was born on October 5, 1965. He hails from Ika South of Delta State.

TRADOC is a research-oriented formation in the Nigerian Army charged with doctrinal training and combat development, supervising training centers.

He also served as the Chief of Training and Operations (CTOP) Defence Headquarters.

Irabor once served as the theatre Commander Operation Lafiya Dole and headed the MultiNational Joint Task Force (MNJTF) as the Field Commander.

Arsenal manager, Mikel Arteta

The Gunners climbed into the top half of the Premier League with the victory.

Goals from Nicolas Pepe, Bukayo Saka and Alexandre Lacazette cancelled out Stuart Armstrong’s early opener, to move Arteta’s men into eighth place.

While there were plenty of positives to take, there were two big injury concerns for Arteta with Manchester United on the horizon.

Both Partey and Smith Rowe were forced off in the second half and will now face a race to be fit for Saturday’s clash at the Emirates.

“He [Smith Rowe] was injured for the FA Cup game and we knew that probably today he could not play the whole game.

“He had some muscular discomfort and had to come off again.

“We had five players in the FA Cup that couldn’t play, [Kieran Tierney] was one of them and Thomas you could see not manage 60 minutes. We don’t know [if it was cramp]… but it was a struggle,” Arteta said after the game.

Cryptocurrency

The global crypto market value is $930.47 billion, a 5.61% decrease over the last day.

The U.S dollar was fired up as it recorded impressive gains at the Tuesday trading session in London taking into account some investors are fast becoming jittery on rising COVID-19 caseloads globally.

At press time, the U.S. Dollar Index that tracks the greenback against a basket of major currencies ticked up by 0.20% to 90.555

At the time of drafting this report, about $70 billion in value was virtually wiped out, taking into account the flagship crypto, Bitcoin, the dominant player in the crypto market, lost as much as $2,000, according to data retrieved from Coin360.

The total crypto market volume over the last 24 hours is $131.42 billion, which amounts to a 2.07% increase.

The total volume in DeFi is currently $15.68 billion, 11.93% of the total crypto market 24-hour volume.

The volume of all stable coins is now $105.17 Billion, which is 80.03% of the total crypto market 24-hour volume.

Bitcoin’s price is currently $31,398.04.

Bitcoin’s dominance is currently 62.74%, a decrease of 0.01% over the day.

Other leading crypto assets including Ethereum, Cardano, Litcoin, Chainlink, Polkadot, and Stellar lost more than 8% in value.

Crypto experts interviewed by Nairametrics are saying that a market correction was long overdue after the overextended bullish move.

The bearish trend prevailing at the bitcoin market is largely attributed to a significant amount of profit-taking in play, coupled with the strong rebound in the U.S dollar

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Bitcoin, Cardano, Polkadot, Ethereum suffer heavy losses over proposed regulations

Chainlink defying law of gravity, now more valuable than Litecoin