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JUST IN: Court Remands Former CBN Boss Emefiele In Kuje Prison

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Justice Hamza Muazu of the High Court of the Federal Capital Territory, FCT, Abuja, has directed that Godwin Emefiele, the former Governor of the Central Bank of Nigeria, be held in Kuje prison awaiting the outcome of his bail application.

Emefiele will be held in prison until the court rules on his bail petition on November 22.

His principal attorney, Mathew Burkaa SAN, filed the bail application, which was vigorously challenged by Rotimi Oyedepo on behalf of the Federal Government.

After taking arguments for and against the application, Justice Muazu said a bench ruling could not be delivered in view of the plethora of authorities cited by the two parties.

The Judge said he needed a little time to study the authorities and peruse through the exhibits supplied by Emefiele to support his request for bail.

At the time of this report, officials of the Kuje prison authority have been contacted to bring a vehicle to convey him to prison.

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BREAKING: FG Declares Monday, Tuesday Public Holidays In Celebration Of Eid-el-Kabir

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Monday, June 17 and Tuesday, June 18, 2024, have been declared public holidays by the Federal Government to mark this year’s Eid-el-Kabir festival.

Olubunmi Tunji-Ojo, in a statement on Friday signed by the Ministry of Interior’s Permanent Secretary, Dr Aishetu Ndayako, congratulated all Muslim Ummah both at home and in the Diaspora on the occasion.

Tunji-Ojo called on the Muslim Ummah to continue to imbibe the spirit of peace, kindness and sacrifice, as exemplified by Prophet Ibrahim (Peace be upon Him) and to also use the period to pray for unity, prosperity and the stability of the country.

The statement added, “The minister reiterated that President Bola Ahmed Tinubu’s administration was committed to safeguarding the lives and property of all Nigerians.

“He further enjoined all Muslim faithful and Nigerians in general to support, cooperate and join hands with the president in his sustained efforts to diversify the economy and progressively accelerate the pace of the nation’s economic recovery.

“While wishing the Muslim Ummah a happy Eid-el-Kabir celebration, the Minister advised all Nigerians to take responsibility in the resolve to hand over a prosperous Nigeria to the nation’s children.”

Earlier report had it that President Bola Tinubu would depart Abuja, the nation’s capital, for Lagos State on Friday ahead of the Eid-el-Kabir festival.

In a statement on Friday by his spokesman, Ajuri Ngelale, Tinubu will observe Eid-el-Kabir in Lagos, where he will also spend the Sallah holidays.

It added: “The President will mark the occasion with prayers and reflection on advancing the transformation of Nigeria in line with his Renewed Hope Agenda.”

Earlier reports had reported that the Sultan of Sokoto, Sa’ad Abubakar, declared Sunday, June 16, as Eid-el-Kabir day after affirming that Friday is the first day of Dhul Hijjah.

Sultan disclosed this in a statement on Friday by the Chairman of the Advisory Committee on Religious Affairs to the Sultanate Council, Sambo Junaid, in Sokoto State.

“His Eminence, the Sultan felicitates with Nigeria’s Muslim Ummah and wishes them Allah’s guidance and blessings.

“The Sultan, while urging the Muslim Ummah to continue to pray for peace, progress and development of the country, also wishes all Muslims a Happy Eid-El-Kabir. May Allah (SWT) accept our religious deeds, amen,” the Sultanate council said in the statement.

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SALLAH: Excitement In Odi-Olowo Community As Council Boss Hon. Razaq Ajala Sells Subsidized Rams At N50,000 [PHOTOS/VIDEO]

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The chairman, odi-olowo Local Council Development Area (LCDA), Hon. Rasak Ajala, in his usual empathy, magnanimity and love for the good people of his community, took such a humane and drastic step in helping to enable Muslim faithfuls, within the community, the will to buy and celebrate Sallah in the traditional pleasurable, fun and enough “food and meat to eat” way, marking this year’s Sallah.

Hon. Ajala, who will always go extra miles to alleviate the suffering of the people and ensure every member of the community access basic needs, with regular empowerment, outreach and people’s oriented initiative, sold out “ILEYA RAMS” to members of the Local Government, at an incredible amount of 50k (Fifty Thousand Naira Only) no matter the size or weight of the ram.

Testimonies from residents in the community who had purchased and bought the healthy, well fed and Sallah certified rams could only attest more to the Chairman’s capacity in delivering on his electoral promises and aim at changing the lives of the people for the best.

Photos of the rams, as displayed across social media portals, and buyers from the local government have become a sensation and template for good governance and enviable leadership.

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BUSINESS: Investing In Davido’s Coin Highly Risky, SEC Warns Nigerians

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The public has been cautioned by the Securities and Exchange Commission (SEC) not to invest in the meme coin that is purportedly associated with popular Nigerian artist David Adedeji Adeleke, better known by his stage name Davido.

The commission made this known in a statement published on its website on Friday.

The SEC issued a warning, saying that users of the meme coin do so at their own risk.

“The general public is hereby advised that meme coins lack fundamental value and are purely speculative. The general public is further warned that investing in meme coins, including $Davido, is highly risky and should be done with a full understanding of the associated risk.

“Capital market operators are by this notice warned not to associate with instruments that fall outside the SEC’s regulatory purview. Such instruments should not in any manner be distributed or monitored through any capital market mechanism.

“Please note that the commission does not recognise $Davido as an investment product or investable asset class under its regulatory purview, as such individuals who patronize it, do so at their peril,” the statement read.

The SEC said it will keep a close watch on market developments and is ready to step in with regulatory action as needed.

The commission further explained, “Generally, meme coins are cryptocurrencies inspired by memes and internet jokes. They are often envisaged as fun, light-hearted cryptocurrencies promoted through a social media community and sometimes through celebrity endorsements.

“Meme coins are also not intended to serve as a medium of exchange accepted by the public as payment for goods and services, or as a digital representation of capital market products such as shares, debentures, units of collective investment schemes, derivatives contracts, commodities or other kinds of financial instruments or investments.”

The music star unveiled a meme coin called $Davido on Wednesday, May 29, 2024.

However, the meme coin has been widely criticised by Nigerians after its value nosedived just a day after its launch.

Social media was awash with disappointed investors and fans venting their frustration as the coin’s value plummeted, with many expressing their dismay and disillusionment.

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