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His Royal Majesty Oba Rilwan Akiolu, the Oba of Lagos says he did not in any way snubbed the Ooni of Ife, His Royal Majesty, Oba Adeyeye Ogunwusi at a public function in Lagos as being painted in the media.

The position of Oba Akiolu was stated by Chief Lateef Aderibigbe Ajose, Opeluwa Onido of Lagos, one of the white cap chiefs.

He argued that Oba Akiolu did not ignore Ooni of Ife.

According to him, the response of Akiolu to Ooni’s greetings was the standard response and the culturally acclaimed way of greeting by a Lagos monarch, Nigerian Tribune reports.

He said each tribe has their own peculiar way of greetings and that the Oba of Lagos was basically trying to revive the culture and tradition of ancient Lagos with his greetings.

“The sign by Oba Akiolu signifies, ‘inu mi, inu e’, the culture of greeting in Lagos. if Oba Akiolu wanted to ignore, he would have turned his face away from Ooni,” he said.

He said: “There is no misunderstanding between both highly revered Monarchs in Yoruba Land”. According to him, the relationship between both Yoruba kings is peaceful and mutual. “Oba Akiolu was well represented at the coronation of Ooni of Ife, which attested to the fact that he does not disregard the office of Ooni Adeyeye.

Going further, Chief Ajose said Oba Akiolu waited till this time to react after meeting with other chiefs.

“There is no sentiment in the culture of Lagos. As we met it that is the way we are doing it. Kabiesi Oba Akiolu is trying to bring back the old pattern, the old culture we have left behind.”

“What happened that day was wrongly speculated by the social media to disrupt peace and order and misinterpret Oba Akiolu’s action”

“We just want to appeal to the social media to stop spreading wrong information. They should try and understand the reason behind every action carried out most especially by traditional rulers”

“Yoruba has a very rich culture. There is no quarrel between the Oba of Lagos and Ooni of Ife,” he said.

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BREAKING: EFCC Declares Yahaya Bello Wanted [PHOTO]

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Yahaya Bello, the former governor of Kogi state, has been declared wanted by the EFCC.

He reportedly evaded arrest yesterday when the commission visited his home to enforce arrest.

More to come…

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Hydrogen, CCHub Partner To Encourage Fintech Startup Success

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As the country faces economic challenges, the need for adaptive strategies in the fintech industry becomes paramount. In line with this, leading fintech startup Hydrogen Payment Services Limited (‘Hydrogen’) has teamed up with Co-creation Hub (‘CcHub’) to host an insightful event themed ‘Adapting Fintech Business Models to Economic Climates’.

The event is set to take place on Thursday, April 18, 2024, from 12:00 a.m. WAT at the CCHub office in Sabo, Lagos, will delve deep into the intricacies of Nigerian economic challenges and how these influence the fintech ecosystem. Participants will gain actionable insights on how to adapt fintech business models to volatile economic conditions by prioritising flexibility, agility, and customer-centricity.

This collaboration underscores the shared commitment of both entities to empower aspiring founders venturing into the fintech space amidst economic uncertainties. By leveraging their respective expertise and resources, Hydrogen and CcHub aim to equip
emerging entrepreneurs with the knowledge, tools, and support needed to thrive in today’s dynamic economic conditions.

Emeka Awagu, Chief Technology Officer at Hydrogen, commented on the strategic partnership with CcHUB: “Our alliance with CcHUB amplifies our shared commitment to pioneering transformative solutions in the Nigerian fintech sector. By leveraging Hydrogen’s technological expertise alongside CcHU’s innovative approach, we are primed to set a new standard for fintech excellence and drive impactful change across the industry.”

The event will feature a distinguished panel of industry experts and thought leaders. including Ina Alogwu, Group Director, Digital Transformation, ARM HoldCo; Emeka Awagu, Chief Technology Officer, Hydrogen; and Miracle Ezechi, Digital Marketing Manager, Hydrogen.

The panel discussion will be moderated to encourage an engaging and insightful conversation on the strategies and innovations required to thrive in the Nigerian fintech landscape amidst economic challenges.

Interested attendees are encouraged to register here and reserve a spot.

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ECONOMY: CBN Not Using Foreign Reserves To Defend Naira — Olayemi Cardoso

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The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, asserts that the nation is not defending the value of the naira with its foreign reserves.

He made this known on Wednesday in Washington, DC, where he is attending the International Monetary Fund-World Bank Spring Meetings.

Cardoso said $600 million came into Nigeria’s reserves account within the last two days.

The naira has appreciated against the dollar in recent weeks, gaining over 40%, from about N1,900/$ to about N1,000/$1 now. But while the naira rebound, Nigeria’s foreign reserves are dwindling, dropping to about $32.29 billion on April 15 — the lowest level in over six years.

Cardoso said, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where for example, debt is due and certain payments need to be made because that is also part of keeping your credibility.

“Other times money comes in, it takes it up again. Between yesterday and today, about $600 million came into the reserves account. We are looking towards a market that operates by itself, willing buyers, willing sellers and price discovery.

“The shift in our reserves has really little or nothing to do with defending naira and that is certainly not our objective.”

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