Super User

Super User

You're worried about all the wrong things.

That was how James Hong (angel investor, badass, founder of HotOrNot) responded to an article I had written two years ago about the loneliness of being a founder. The piece was a response to the hype engine of Silicon Valley and its larger-than-life founder stories -- and an attempt to break through the founder norm of business always being "great."

Founders aren't superhuman, but the world wants them to be. The role requires the ability to lay off dozens of employees, fire close friends and appease unhappy customers -- while seeming impervious to doubt, fear or uncertainty.

To survive, I developed a series of coping strategies: unabashed transparency, sharing challenges with those I trust the most, and asking for help. I shared these strategies with other founders and learned in return how they faced their fear and isolation.

But more recently, I've been wrestling with a new question. Not about how to survive, but how to thrive as a founder. As an investor (in fact, a board member of a competitor) recently asked: "How did RichRelevance get its mojo back?"

The answer ties back to James' comment. The right things to worry about as a founder are the things that truly grow your company and character:

1. Family

We decided early on that family was a core principle of RichRelevance. One of the biggest mistakes I made while cutting expenses to achieve profitability was to stop inviting significant others to our holiday party. This decision, while small in overall impact, was something I'll never forget.

Family and our personal health frame our lives in meaning, without which none of the sacrifices of a startup matter. This framing is also a critical reminder that while our work is ridiculously important, it is just that: work. Life transcends startups, failures, successes, financial or political gains.

2. Product

Product is, and should always be, at the heart of a company. It is the reason your employees get up in the morning. It's the reason your customers love you, and ultimately why we founders have a job.

At RichRelevance we deviated. For a time, we were 100 percent focused on creating an amazing sales organization and we lost a lot of our passion because of it. But we learned from it, and I owe a debt of gratitude to a group of passionate developers who got together one day to say we must re-envisage our product.

We had to restructure our company from a general management structure to a product-oriented structure. We had to re-hire our product-management staff, and we had to change our relationship with customers. This transition has become the heart of our company -- our passion and our collective belief in the future of our product.

3. Team

Per the above, great people at RichRelevance (not me) saved our company. That's the coolest thing any CEO/founder/startup junkie can say. Amazing people that bring passion and capability are an incalculably powerful force.

We did one thing right during our challenging periods at RichRelevance: We always directly engaged our top-performing and most committed employees for their feedback and partnered with them through our challenges. We have an amazing core of about 20 people who've been with us for more than four years. Combining their strengths and shared history with the 200 or so other RichRelevance employees enables us to power through failures and to truly appreciate the amazing successes of our team as a family.

How do I thrive? My family and life-framing help me remember what really matters, so I am able to avoid the downward spiral of despair. I look to the power of the product to show the path to the future. And I am surrounded by the right people who stick to their guns when the going got tough.

James, these are the things that matter. And these are the things every founder needs to survive the dark nights of the startup soul and thrive in the next day's light.

In the timeless words of Metallica: "Nothing else matters."

** David Selinger founded RichRelevance in 2006 to help retailers transform customer data into extraordinary customer experiences, and has led the company to its current position as number one (as ranked by Internet Retailer) for personalization in both the U.S. and E.U. He previously led the R&D arm of Amazon’s data-mining and personalization team and also co-founded Redfin, where he helped build the world’s first real-time mapping and real-estate data-analytics engine.

 

Entrepreneur

Uka Uka Osim, a leader of the Brotherhood of the Cross and Star, along with his wife and son, were taken captive alongside three fellow clergymen in Abia State.

The abduction occurred as they journeyed to Awka for their evangelical mission. Among the kidnapped were Azuka Ochu, Moses Okafor, and Anderson Akwazie. Despite the passage of four days, no communication has been established with the captors.

Denis Onuoha, the spiritual organization's administrator in Abia State, expressed deep concern but remained steadfast in faith, believing in their eventual safe return. While urging law enforcement to intervene, the community continues to fervently pray for the safe release of the Archbishop and his companions. Both Anambra and Abia State police have yet to issue a statement regarding the incident.

There's progress reported in Gaza truce talks, but Israel downplays chances of ending war with Hamas

A Hamas delegation was in Cairo on Saturday as Egyptian state media reported “noticeable progress” in cease-fire talksfor Gaza. But Israel hasn’t sent a delegation and a senior Israeli official downplayed prospects for a full end to the war while emphasizing the commitment to invading Rafah.

Pressure has mounted to reach a deal halting the nearly 7-month-long war. A top U.N. official says there is now a “ full-blown famine” in northern Gaza, while the United States has repeatedly warned close ally Israel about its planned offensive into Rafah, the southernmost city on the border with Egypt, where more than 1 million Palestinians are sheltering.

Egyptian and U.S. mediators have reported signs of compromise in recent days, but chances for a cease-fire deal remain entangled with the key question of whether Israel will accept an end to the war without reaching its stated goal of destroying the militant group Hamas.

Egypt’s state-owned Al-Qahera News TV channel said that a consensus had been reached over many disputed points but did not elaborate. Hamas has called for a complete end to the war and withdrawal of all Israeli forces from Gaza.

A senior Israeli official, speaking on condition of anonymity to discuss ongoing negotiations, played down the prospects for a full end to the war. The official said Israel was committed to the Rafah invasion and that it will not agree in any circumstance to end the war as part of a deal to release hostages.

Israeli media said that statement had been dictated by Prime Minister Benjamin Netanyahu, whose government could be threatened if he agrees to a deal because hard-line Cabinet members demand an attack on Rafah.

The proposal that Egyptian mediators had put to Hamas sets out a three-stage process that would bring an immediate, six-week cease-fire and partial release of Israeli hostages, and would include some sort of Israeli pullout. The initial stage would last for 40 days. Hamas would start by releasing female civilian hostages in exchange for Palestinian prisoners held by Israel.

Some families of hostages accused Netanyahu of prolonging the war for his political interests. Daniel Elgert, whose brother Itzhak is held by Hamas, addressed Netanyahu at the latest rally in Tel Aviv: “Bibi, we call on you from here to announce the end of the war in exchange for the return of all the hostages. The war is effectively over, we know it’s over, you can’t fool us.”

The war has killed more than 34,000 Palestinians, according to Gaza’s local health officials, caused widespread destruction and plunged the territory into an unprecedented humanitarian crisis.

The conflict erupted on Oct. 7, when Hamas attacked southern Israel, abducting about 250 people and killing around 1,200, mostly civilians. Israel says militants still hold around 100 hostages and the remains of more than 30 others.

Israeli strikes Saturday on Gaza killed at least six people. Three bodies were recovered from the rubble of a building in Rafah and taken to Yousef Al Najjar hospital. A strike in the Nuseirat refugee camp in central Gaza killed three people, according to hospital officials.

In the last 24 hours, the bodies of 32 people killed by Israeli strikes have been brought to local hospitals, Gaza’s Health Ministry said Saturday. The ministry does not distinguish between fighters and civilians in its tallies but says that women and children make up around two-thirds of those killed.

The Israeli military says it has killed 13,000 militants, without providing evidence to back up the claim.

It has also conducted mass arrests during its raids inside Gaza. The territory’s Health Ministry urged the International Criminal Court to investigate the death in Israeli custody of a Gaza surgeon. Adnan al-Borsh, 50, was working at al-Awda Hospital when Israeli troops stormed it in December, according to the Palestinian Prisoner’s Club.

The United Nations has warned that hundreds of thousands would be “at imminent risk of death” if Israel’s military moves forward into densely packed Rafah, which is also a critical entry point for humanitarian aid. Israel has briefed U.S. officialson its plan to evacuate civilians.

The director of the U.N. World Food Program, Cindy McCain, said Friday that trapped civilians in the north, the most cut-off part of Gaza, have plunged into famine. McCain said a cease-fire and a greatly increased flow of aid through land and sea routes was essential.

A Israeli humanitarian official on Saturday called McCain’s assertion incorrect and said Israel has been facilitating the delivery of more aid. The official spoke on condition of anonymity because of the sensitivity of the situation.

Israel recently opened new crossings for aid into northern Gaza, but on Wednesday, Israeli settlers blocked the first convoy before it crossed into the besieged enclave. Once inside Gaza, the convoy was commandeered by Hamas militants, before U.N. officials reclaimed it.

Some displaced residents of northern Gaza said they had been skipping meals and hadn’t seen vegetables for weeks.

“You know now everything is scarce in Gaza. There are no vegetables and there is no aid or food packages. It is about once a month that we get food parcels,” Marwan Al-Zaid said.

In the Israeli-occupied West Bank, where tensions have been high since the outbreak of the war in Gaza, the Israeli military said it and Shin Bet had killed five fighters in Tulkarem, asserting the fighters had opened fire. Palestinian authorities said five people were killed by Israeli fire in the town of Deir al-Ghusun, roughly 7 kilometers (4.3 miles) northeast of Tulkarem.

 

AP

WESTERN PERSPECTIVE

Russia hits Ukraine regions, Zelenskiy says Su-25 bomber downed

Russian attacks on Ukraine's Kharkiv and Dnipro regions and the Black Sea port city of Odesa killed at least two civilians, set a food factory ablaze and damaged other infrastructure, homes and commercial buildings on Saturday, regional officials said.

President Volodymyr Zelenskiy said Russia had used eight missiles of various kinds and nearly 70 guided aerial bombs against communities and frontline positions during the day, after Ukraine's air force downed 13 Shahed drones that targeted the Kharkiv and Dnipro regions overnight.

Zelenskiy said Moscow had no desire for peace. "Russia can only be forced to leave Ukraine alone," he said in his nightly video address. A world peace summit taking place in Switzerland in June - without Russia - "must succeed", he said.

He said Ukraine's 110th mechanised brigade brought down a Russian Su-25 fighter-bomber over the eastern Donetsk region, one of four areas of Ukraine Moscow says it has annexed.

Russian Defence Minister Sergei Shoigu saidon Friday Moscow had taken control of 547 sq km (211 sq miles) of the territories this year.

Oleh Syniehubov, governor of Kharkiv region, said Russian shelling killed a 49-year-old man on the street near his home in the village of Slobozhanske. An 82-year-old woman was killed and two men were injured in overnight shelling in Kharkiv city, he wrote on the Telegram app.

A Russian missile attack set fire to a business premises in an industrial district of Kharkiv city, injuring six employees, he added. Local prosecutors identified it as a food factory.

In the south, Odesa regional governor Oleh Kiper said three people had been injured in the city by a missile strike.

Reuters could not immediately verify the reports of casualties and damage.

An air force commander said air defences brought down all 13 of the attack drones overnight, but Syniehubov said falling debris injured four people and sparked a fire in an office building.

In the industrial Dnipropetrovsk region, shelling injured a 57-year-old woman and damaged infrastructure in Nikopol, near the Russian-held Zaporizhzhia nuclear power plant, and two were wounded in another overnight attack, regional governor Serhiy Lysak said.

 

RUSSIAN PERSPECTIVE

Russia shoots down four US-made long-range missiles – MOD

Russian air defenses have shot down four US-manufactured long-range missiles over Crimea, according to the Defense Ministry in Moscow.

On Saturday night, Kiev’s forces attempted “to carry out a terrorist attack” against the Russian peninsula using surface-to-surface Army Tactical Missile Systems (ATACMS) supplied by Washington, the ministry said in a post on Telegram. The strike was intercepted, it added.

On Tuesday, the Defense Ministry claimed that six ATACMS projectiles had been downed in a single day, without specifying the location of the strikes. In total, 15 such missiles have been intercepted in the past seven days, Moscow reported on Saturday.

In late April, US officials confirmed earlier media reports that the Pentagon had secretly shipped an unspecified number of long-range missiles to Ukraine as part of an arms package announced by President Joe Biden in mid-March.

The “goal” of supplying Kiev with ATACMS was to put more pressure on Crimea and allow Ukrainian forces to target the peninsula “more effectively,” the New York Times reported at a time, citing an unnamed Pentagon official.

Moscow said the provision of long-range missiles would only spell “more problems” for Kiev. Kremlin spokesperson Dmitry Peskov insisted that the use of ATACMS would not impact the outcome of the conflict, or prevent Russia from achieving its security goals.

On Friday, Foreign Ministry Spokeswoman Maria Zakharova warned that any Western-backed Ukrainian attack against the Russian peninsula, or the Crimean Bridge which connects it to the Krasnodar Region, would spark a forceful response.

“I would like to again warn Washington, London, Brussels, that any aggressive actions against Crimea are not only doomed to failure, but will also be met with a retaliatory blow,”she said during a media briefing.

 

Reuters/RT

The scholar and researcher had taken a trip to an open market. There, he met a female fishmonger. Attracted by the casual attention this researcher paid to a croaker fish on display on her stall, the lady attempted to win this potential buyer to her stall. So, she began to dish out a mesh of adulations and panegyrics of the buyer. “Aguntasoolo, okoo mi, e wa ba mi raa,” she chanted. The researcher translated the chant thus: “Dapper-and-gracefully-tall-one, my husband, please buy from me.” The marketing gambit won and the researcher branched by to haggle the price of the fish. In the process, however, he underpriced the fishmonger’s croaker by more than half. Enraged, the woman immediately withdrew and then went blank. Her praise of the potential buyer immediately turned into dispraise. Looking sideways as if talking to no one in particular, the woman muttered: “Sawa pile l’eja a yin, ohun nuun!” translated to mean, “cheap sardine is what you are worth anyway, that’s it up there!” The researcher made to leave nevertheless, oblivious to what he saw as trifle. As he did, a fruit seller nearby noticed the fish monger’s grumpy countenance and demanded what made her irritable. The fishmonger began, pouting her mouth towards the man as gesture to the man who annoyingly over-haggled her croaker. (In Yorubaland, pouting of mouth towards someone is a gestural insult). Then she said, “awon nuun, Daginnidooro! E wulo nle lee ran’yawo yin wa!” The researcher translated this scorching riposte to mean, “that’s him, lanky lout! If you had been such a good husband, your wife would be here instead!”

That was the encounter of scholar and researcher, Ayo Adeduntan. As he found out, praise can morph into dispraise in a twinkle of an eye. Anyone who had haggled price with a woman in a marketplace in Yorubaland would most probably have had a similar encounter. In “Praise, Anti-Praise and the Limits of Memory: Critical Reflections on Toyin Falola’s Adulation,” published by the Oye: Journal of Language, Literature and Popular Culture, (Vol 2, No 1, November, 2020) the scholar tries to explain how somebody, who was once a recipient of adulations and panegyrics, could, in a twinkle of an eye, tumble down into the pit of ignominy. Deploying what he called “an ethnographic field research on performance of verbal aggression by traders and buyers in a major market” Adeduntan drew a paradigm that may be used to explain the social anger against Bola Tinubu, Nigeria’s president. If you listen carefully to the exchanges today on Nigerian streets, the question being asked is, is Tinubu a mystique or mistake?

If you ask me, that woman must be Ibadan. Ibadan are reputed for their lacerating tongues. Beyond Toyin Falola’s biography, A Mouth Sweeter Than Honey, Ibadan should be invested with the Akure people’s cognomen as people of an ancestry which abandons the sword in a bitter war with their interlocutor. In place of a sword, they wage their war with the tongue! Sorry, I digressed. What struck Adeduntan the most in this fishmonger-scholar exchange was “an emotive transition from the good-looking Aguntasoolo” to “Daginnidooro; and from a desirable spouse to a stingy deadbeat and no-good husband.” Both identifiers are drawn from empirical observations of a tall man’s physique. However, while one is adulation, often used by second wives while chanting the praise poetry of their husband’s other male children, the other is a vilification. This goes a long way to show that, choosing between praise and anti-praise could sometimes be determined by individual encounters.

The interminable fuel queues which began last week have become, to Nigerians, another painful encounter with the one-year old Tinubu government. Those encounters, in close to 365 days now, have become the proverbial numerous smelly teeth of the Adipele. When asked whether the Adipele has the 32 teeth of an ordinary person, elders answer by posing a rhetorical question. So, they riposte, “how many teeth are we going to count in the dentition of the Adipele, the thousand uncountable incisors sunk inside trench-like gums or a million molars buried inside the jaw?” Which of those smelly encounters of the last one year do Nigerians want to talk about now? For those who unconscionably invested hope in the Renewed Hope, Tinubu and his government have swung from being the good-looking “Aguntasoolo” to “Daginnidooro”. It is a roaring tumbling down from praise to dispraise.

In my offering of December 10, 2023 entitled, Tinubu and Frank Kokori: A reporter remembers, I recalled my conversation with Tinubu about 26 years ago. It was precisely on Saturday, October 10, 1998 at Frank Kokori’s Yaba, Lagos house. Tinubu and other NADECO activists had just returned to Nigeria the day before after exiling abroad. Sitting beside him, I asked Tinubu what impression he had of Nigeria upon his arrival. His response: “Retrogression, rolling backwards, on reverse gear; that is my impression. Sad. That people are still queuing at the petrol stations, spend more productive hours at the petrol stations than in economic sector. It is a very sad story… You see poverty, glaringly in the face of the people in a nation that has so much resource to give. It hurts”. I am sure the serpentine queues in Nigeria last week, where Nigerians had to pay about N2000 to buy a liter of petrol, were gorier than that of the immediate post-Abacha years.

If government’s secret police still do their work effectively, let them compile the bilious hatred of Tinubu on Nigerian streets today and the curses heaped on him. In Yorubaland today, people mischievously greet one another, “a ku Tinubu yi o!” When Yoruba use the prefix, “a ku…” it is about periods, time or event; mostly of mourning. In a public cab I entered last week, the loquacious driver said the Tinubu government was an Agbako. Agbako is misfortune or mishap. Passengers freely rained curses on the government for looking by while they suffered.

Alamu Atinsola Atatalo, one of the pioneers of Dundun and Sekere traditional music in pre-colonial Yoruba Nigeria, also reinforced the transition from the fishmonger’s 

“Aguntasoolo” to “Daginnidooro” description. Tatalo mirrored the typical Ibadan whose tongue singes like hot knife on butter. Born into the Ajalaruru family of Opo Yeosa in Ibadan, the 1950s and 1960s saw him dominating Ibadan musical scene, first as a Sekere and Dundun drummer and much later, as singer and drummer. This he did in two of his songs where, within a short span, he shot a woman friend of his down from the echelon of praise to the abyss of dispraise. In the first vinyl, apparently under the sweet piercing jab of Cupid, Tatalo advertised the woman friend’s restaurant in such superlatives that you would want to visit it to have a taste of her highly burnished culinary prowess. Tatalo said the restaurant was located in Ayeye, Ibadan and that it was the best place where quality amala and ewedu soup could be found in the whole of the city. The restauranter garnished her soup with fish and shrimps, he said. He rendered this in a song I find very hard to translate: “Sokotoyokoto lo fi np’elo e, ede lo fi npata. Iyawo Atatalo ti nbe l'Ayeye!” Not long after, in his “Afidikaleni album, Tatalo sang about the same woman who had now become his ex. He alleged that, in alliance with her mother, she was disgrace to motherhood and that both mother and daughter engaged in shameless prostitution. The restaurant, which Tatalo once praised to high heavens, had now, in his words, become so slovenly and 

smelly that it was fly-ridden. Indeed, sang Tatalo, off-putting smell of gonorrhea (atosi) urine oozed out of the restaurant, so much that no one could enter it! Please, how does gonorrhea urine smell?!

In the next few days, it will be one year since the Tinubu administration came into office. Pardon my ignorance, I am still searching for a singular pro-poor policy it began and saw to fruition. Many have said the IMF holds the Villa’s “blokos” and is dragging the occupant hither thither. From removal of fuel and electricity subsidies, this government doesn’t seem to be one with a human face. Tokenism is all the people get for their wait. Nigerians live in almost perpetual darkness. Cost of living is in adulterous romance with the sky. Despite the few commendable eclectic dance steps it has made in about two months, the Nigerian Naira has not stopped its Atilogwu dance to the drumbeat of the dollar. It has been said that it is only when African leaders are servile-minded or have skeletons inside their cupboards that IMF drags them around like pangolin. Late last week, apparently smelling that the president is inside the pouch of the west, Attahiru Jega and other eminent Nigerians anticipated Tinubu’s next west lickspittle move and quickly asked him not to allow US, France site their military bases in Nigeria. 

In America, a recent CNN poll must have made President Joe Biden to begin to scamper from pillar to post. It shows that petulant Donald Trump holds the ace in the hearts of the people, despite his shameful and unprecedented criminal trial. The outcome of the polls is that Americans think that, on hindsight, Trump’s term as president was a success, with a broad majority of the view that Biden’s has so far been a failure. While Trump recorded 49% in a head-to-head matchup against him, Biden’s stands at 43%. Realizing that his uncritical abetment of the genocide of Israel in Palestine is why he may not return to the White House, Biden has sent Secretary of State Antony Blinken on a diplomatic shuttle to the middle-east. Permit me to ask this belittling (afojudi) question: If a CNN-kind poll is genuinely held today, what would be Tinubu’s rating? My guess is 10%. The most tragic of it is that he doesn’t seem to bother. Just like one whose heart is made of a tortoise carapace. The moment a people’s groan and cry have no impact in their leader’s heart, the party is over. 

So, last week, in pursuit of government’s defence of the N15 trillion award of construction of the Lagos-Calabar highway to the president’s business partner, Gilbert Chagoury’s High-Tech, Minister of Works, Dave Umahi, held a media briefing. 

Arise television reporter, Laila Johnson-Salami, jolted Umahi by asking a very critical question. Then Umahi attempted to take the wind off its sail by bringing in a needless humour and sounding like a palace jester. Exhibiting a gallantry that is becoming peculiar to Arise TV, Laila curtly replied Umahi’s apparently sexist jest of “Sister, I was raised in the village, me I no dey hear phoneh (phonetics), so try to speak…” with “Well, sorry, I can’t help the way I speak” and then detonated the unexpected bomb: “The EIA Act of 1992 states that an EIA must be approved by the Federal Ministry of Environment before the commencement of any project unless an exemption has been given…” Did the ministry conduct the EIA before this phenomenal project began or was an exemption given? For what looked like an eternity, Umahi didn’t know what to say and when he picked himself up, it was a waffle. Johnson-Salami represented us well as journalists. While Yoruba underscore defence of authority, maintaining that the secret of the fox should not be revealed by the dog (Àsírí ìkokò kò ye kó t’owó ajá tú) journalism should stand for the obverse. As watchdogs, we should reveal the secrets of the foxes in power.

On the 700km road construction, Nigerians have since been battling Umahi with facts and figures. This may demonstrate that the people have a hunch that, while the highway contract is shawled with the façade of public good, self is its propeller. Of a truth, the “we” and “them” bifurcation of the place of government and the people may be responsible for the general unbelief of the people in government’s advertised expenditure. I, however, think that pedigree also explains the unbelief and lack of trust. As the Yoruba say, a man who was once found to be a thief, if tomorrow he is clothed in Aran, one of the most expensive clothes of old, his raiment is seen as product of theft. Add the Lagos-Calabar highway project to a number of other bogus claims of this government that have been unearthed for not being in amity with truth and you will get what I mean. The pedigree of the Lagos boys on the throne is also perceived not to be trustworthy. Earlier, I wrote The Lagos Boy’s coastal highway (April 14, 2014). Therein, I explored the characteristics of the Lagos Boy. Among others, he is unusually bold, even capable of picking hot charcoal (eyin ina) from the fireplace; he is deceptive and deifies glitz and glamour as substances. You could see its carryover today in Lagos. So many self-curated “firsts” are unilaterally affixed to Lagos, “to catch cruise,” in the words of the youth of today. They even claim that Lagos is one of the most live-able places in the world. Last Wednesday, government made a public advertisement of the discovery of 86 partitioned makeshift apartments under a Lagos bridge. Tenants occupied these rooms reportedly paid N250,000 per annum. Place this side by side the “catch cruise” superlatives of Lagos and you will wonder which live-able sub-state in the world possesses such absurd renown. If government provides live-able shelter for its people, would they live under the bridge?

If Nigerians’ praise or dispraise matters, especially on election day, this government should bother about its transition from Aguntasoolo to Daginnidooro. Or what could have made Tatalo's mistress descend downhill. And make Nigerians smile. Biden is bothered and is attempting to make amends. Here, on election day, we will be given money to vote them in. And we will continue to have governments without ears, for whom we are merely pawns on their chess board. We will always help them fulfill a lifelong ambition of filling the space in Aso Rock.

 

The war of Davido and Wizkid

On X last week, I lent my voice to an obvious turf war between two great Yoruba songsters, Davido and Wizkid. It was a typical Atatalo assuming his sole ownership of the spatial control of the Ibadan musical space while the Agboluajes, Epo Akaras deconstructed his peremptory self-awarded ownership. 

The two great exports to the world of music had taken to their handles to trade mutual tackles. Their spat reminded me of Alamu Atatalo, again. In one of his eponymous songs with which he self-delineated the boundaries of stardom, Tatalo handed the Ibadan musical scene to himself alone. Thereafter, his musical rivals showed him that life was a war. Tatalo was suddenly incriminated in a murder rap which remarkably shot his musical star downhill. He was said to have fought off a murder frame-up for over a decade and fought stridently to clear his name. In the process, Atatalo lost a chunk of his name and properties. By the 1970s when he bounced back, other musicians like Amuda Oojere, Ayanyemi Atokowagbowonle and Agboluaje had leapt into prominence. 

In Kaluku l’Olohun gb’aye re fun, (God has endowed everyone with their turfs) while matter-of-factly proclaiming that he alone was king of all musicians in Ibadanland, Tatalo appropriated Egbaland musical stardom to Sakara music lord, Yusuff Olatunji while apportioning Ijebu-Igbo, both towns in today’s Ogun State, to Haruna Ishola, an Apala prodigy. He sang this in Yoruba thus: “Kaluku l’Olohun gb’aye re fun ko mon niro ninu… Atatalo lo n’Ibadan, Yusuffu l’o ni’lu Egba, Ijebu Igbo t’Aruna ni o…” Atatalo died on March 8, 1985 during an illness.

When Wizkid reportedly attacked Davido for his lack of originality simply because he engages songwriters, I begged to defer. Davido’s musical greatness is not in any way muted by his usage of songwriters. Apart from the fact that the greatest musicians in the world make use of songwriters, I cited Ayinla Omowura, unarguably the most original Yoruba musician of post-colonial Nigeria, who not only made use of songwriters he called composers, but publicly serenaded them as Ojogbon – professors. In one of his songs acknowledging their compositional ingenuity, Omowura sang that “I, Anigilaje, no matter how long I sing, I always remember the professors who couch the songs for us:  Alabi Adeeyo (alias Atenisemesi) and Razaki Tuntun. I enjoy you for the uplifting musical lyrics you curate. So also is Bahiru Igbore who is one of them. Brilliance and depth are what you deploy to carve out the songs which Omowura sings that get him global acclaim.” In my biography of Ayinla, I submitted that he also used songwriters like Bolodeoku Joda and even Ayinla Agbejapa Oba, his spiritual advisor who was once a musician in Ghana. While songs flavored with incantations must have come from Atenisemesi, the ones that had to do with culture were the exclusive preserve of Bolodeoku.

In spats with each other, Wizkid and Davido act true to type of their predecessors. Sunny Ade and Ebenezer Obey; Haruna Ishola and Kasumu Adio; Bob Marley and Peter Tosh; Yusuff Olatunji and S. Aba Baba Wahidi. Both should however realize that their contributions to the course of mankind are the most enduring legacy. Not their fights.

 

Our soul is escaped as a bird out of the snare of the fowlers: the snare is broken, and we are escaped. Our help is in the name of the LORD, who made heaven and earth ~ Psalms 124:7-8.                                                                                         

Introduction:

Characteristically, man’s search for the help of God begins at the point where herealizes that his needs are beyond his human strength. Nevertheless, the subject of supernatural assistance should be constantly reflected in our outlooks as Christians in all our pilgrim’s journeys.

It is crucial that we regularly see God as our Mighty Helper, and know that His assistance is closer to us than we could ever think or imagine (Psalms 124:1-8)!That’s the irreducible qualification to secure access to this help beyond ourselves, and to activate it at our critical hours of need!

Giving assistance connotes a sense of bringing ease or relief to a distressed situation. It particularly implies giving aid to someone in need, at which time assistance is mostly cherished.

Needs could be spiritual, physical, social, emotional or even relational. Occasionally, some needs could bare themselves out to us in the form of obstacles beyond our power, and for which we have no answers.

A need may also be a nagging quest to generate more impacts and more significance upon the earth, for which our best of wits and wisdom have proven to be unreliable.

Now, until you receive supernatural assistance to meet your needs, people are bound to see your sweat. But when divine help comes, the miracles that have been dragging on for long become accelerated, and people easily notice God’s grace and favour upon your life. It’s the help of God that makes all the difference!

God is our Mighty Help against the storms, and happily He has chosen to make the believers His place of habitation. Job recognized this when he declared, “Is not my help in me?” (Job 6:13). God will certainly appear for His people to help them at any time and under any circumstances (Isaiah 41:10-14).

Divine assistance always provokes divine blessings. It’s the spiritual substance of God’s assistance that gives affinity (or,attractiveness) to the good things of life. Hence, so many good things become easily consummated for you when supernatural assistance locates you (Psalms 46:1-7).

Notably, with divine assistance, strange things begin to happen to you in righteousness, and help flows in even from quarters you least expected. With supernatural assistance, you’re made strong and big like an oak tree, the size of your beginning notwithstanding.

God is our Shield and the Sword of our excellency; with Him we can tread upon our high places (Deuteronomy 33:29). Healways assists His people in their weaknesses and delivers them from the hands of their strong enemies to secure them in their appointed places.

Divine assistance has no age or social limitations. God helped the then 16-year oldUzziah, King of Judah, to accomplish so many feats (2Chronicles 26:3-15). He built industrial engines, war machines and rocket launchers in Jerusalem, and his fame spread abroad because “he was marvellously helped”.

Jehoshaphat too cried out for divine assistance when the enemies encompassed him; the Lord helped him and his enemies were summarily dispersed (2Chronicles 18:31).

Gleaning from these above, we can safely confirm that divine assistance comes with the following supernatural condiments in its wings: strange victories, enlargement, expansion, fame, security, administrative capabilities, innovation and inventiveness.

Supernatural assistance also promotes resourcefulness, prosperity and wealth, to the degree that even stingy entities will begin to give their lending hands. Thus, David sang: “Our help is in the name of the LORD” (Psalm 124:8).

He looked up to God, and He mightily helped him at the most unusual times and through the most improbable channels (Psalm 121:1). Mighty men played their parts, and even fainting souls contributed their quota to assist him on his journeys (1Samuel 30: 1-20).

Undoubtedly, supernatural assistance is the sure fountain of any genuine accomplishment on earth, and missing it is tantamount to utter helplessness! A man who is denied access to divine assistance cannot find real help from any other quarters.

During the great famine in Samaria as recorded in 2Kings 6:25-30, a desperate woman cried unto the King of Israel for help, and he answered her, saying, “If the LORD do not help thee, whence shall I help thee? out of the barnfloor, or out of the winepress?”

Meanwhile, seeking help outside God is a serious error, which can also attract a deluge of sorrow and gloominess (Isaiah 31:1). David said, “Unless the LORD had been my help, my soul had almost dwelt in silence” (Psalms 94:17).

Finding Access To Divine Help

Basically, those who plan to enjoy God’sassistance must choose to live in righteousness. Uzziah did that which was right in the sight of the Lord, and he was marvelously helped. They must equally trust God implicitly, and develop a firm confidence in Him.

Confidence and trust go a long way in promoting fellowship and mutual assistance. Hence, as David testified, the help of God shows up marvelously for those who put their trust in Him (Psalms 28:7; 37:40).

Secondly, those who desire to attract divine assistance must learn to wholeheartedly seek the Lord. God has everything you are looking for in His hands (Psalms 24:1-6). When He steps in, everything turns around for good!

Seeking the Lord in prayers is the key here (Deuteronomy 33:7)! Asa sought the Lord in prayers, and he enjoyed supernatural assistance (2Chronicles 14:11). Seeking the Lord in all our ways provokes distinctive miracles!

Thirdly, as we seek the Lord’s assistance, we must also be violent in the spirit against the antics of the enemies (v11). To enjoy peace, prepare for war! Never be complacent with the spiritual “Philistines”. Be warlike in spirit if you must enjoy sweet victories in spiritual conflicts.

In addition to the foregoing, we cannot overemphasize the importance of being regular in God’s presence. The sanctuary is His appointed place of encounter (Psalm 20:2). Everyone that looks up to God for help must keep regular statutory appointments with Him in the sanctuary(Hebrews 4:16).

Friends and brethren, in conclusion, let’s note that God doesn’t help anyone and help his enemy simultaneously (Job 8:20). For as long as God is at work in your life, your enemies remain hopelessly helpless!

God doesn’t require any man’s approval to assist you. When He decides to help you,the only alternative left for your enemies is to chart a course of peace with you (Mark 9:22-24). All those who make God their Help find Him mightily so: “Happy is he that hath the God of Jacob for his help …”(Psalm 146:5).

Divine assistance comes by the administration of the Holy Spirit (Romans 8:26). Now is your lifetime opportunity for an incredible bestowal of His supernatural intervention. Open up to Him right now, you will be marvelously helped and rejoice evermore! You won’t miss this, in Jesus name. Amen. Happy Sunday!

____________________

Bishop Taiwo Akinola,

Rhema Christian Church,

Otta, Ogun State, Nigeria.

Connect with Bishop Akinola via these channels:

Facebook: www.facebook.com/bishopakinola

SMS/WhatsApp: +234 802 318 4987

The redeemed is no longer under the law of sin and death but under the law of the spirit of life in Christ Jesus.

Let me tell you a fictitious story of a lady called Abigail. She was married to a man called Nabal and he gave her hell. He had a list of do’s and don’ts. He gave Abigail this list of things she had to do as his wife. But it was simply impossible for her to meet them all.

No matter how hard she tried she would always find that she forgot to do something, or forgot to say something, or did something in a way that was different from the exact way he wanted it done.

He wanted his rice cooked in a particular way. His meat had to be boiled in a particular way. His shirt must be ironed in one way, or you won’t hear the last of it. If Abigail failed to meet even one of his many conditions, it was like she had failed to meet every condition.

Abigail contemplated suicide, but she did not have the courage. She thought of murdering her husband. On one occasion, she seriously considered poisoning his Edikaikong soup. But she was afraid of spending the rest of her life in jail.

And then there was this issue of divorce. She had nightmares about divorce. She was afraid that she would wake up one day and discover that she was divorced. Nabal made her understand that he could divorce her any day at any time for any cause. And then where would she be? Where would she go?

So what happened?

Nabal died

One day, Nabal had a stroke and died. He just fell and died. When he died, Abigail got married to David. When she moved into the house of David, she asked David for his list of do’s and don’ts.

But he said he had none. “I just love you,” he said. “There are no laws, no rules, no regulations, and no guidelines. Just love. For love makes up for many of our faults. Love covers a multitude of sins.”

This is what happens when we are redeemed by the grace of Jesus Christ. We are dead to the law of sin and death and are now married under the law of the spirit of life in Christ Jesus.” (Romans 7:2-6).

“Love suffers long and is kind; love does not envy; love does not parade itself, is not puffed up; does not behave rudely, does not seek its own, is not provoked, thinks no evil; does not rejoice in iniquity, but rejoices in the truth; bears all things, believes all things, hopes all things, endures all things. Love never fails.” (1 Corinthians 13:4-8).

Righteousness of God

The passion of Jesus, His agony on the cross, and His death all came about because He chose to atone to God for the sins of mankind. As Isaiah prophesied:

“He was wounded for our transgressions, He was bruised for our iniquities; the chastisement for our peace was upon Him, and by His stripes we are healed. All we like sheep have gone astray; we have turned, everyone, to his own way; and the Lord has laid on Him the iniquity of us all.” (Isaiah 53:5-6).

God’s attitude to sin is so extreme that it cost Him the death of Jesus, His only begotten Son whom He loved before the foundation of the world.” (John 17:24). He could not even make an exception for His beloved Jesus.

Jesus plea-bargained with God the Father in Gethsemane: “He went a little farther and fell on His face, and prayed, saying, ‘O My Father, if it is possible, let this cup pass from Me; nevertheless, not as I will, but as You will.’” (Matthew 26:39).

In effect, God the Father said: “It is not possible.” It is impossible because God does not call back His words. God says: “My word that goes out from my mouth will not return to me empty, but will accomplish what I desire and achieve the purpose for which I sent it.” (Isaiah 55:11).

God’s word that must be fulfilled in this case says: “The soul who sins shall die.” (Ezekiel 18:4). Therefore, to redeem the sins of mankind, Jesus had to die.

Wages of sin

Let me tell you a parable. Most people did not know the Head of State was implacably determined to stamp out corruption in the land. Since he came to power, he has made speeches upon speeches that corruption would not be tolerated. “Any official caught stealing public funds would be executed,” he maintained.

It sounded so extreme that people did not believe him. All government officials were corrupt. Corruption had permeated every facet of the society. To implement his decision, the president would have to kill everybody one by one.

After several people were caught stealing and executed, a plot was hatched and the one and only son of the Head of State was arrested on trumped-up charges and accused of corruption. False witnesses testified that he also had been stealing government funds.

Many laughed and ridiculed the Head of State. They said: “We’ll see now about all your talk about fighting corruption.” “So what is going to happen to your son?” “Will you also execute him?”

The president’s son was charged in court. Everyone predicted that the trial would be fixed. Many anticipated the judge would be bought over and given instruction from above to throw out the case.

But something seemed to go wrong. The President’s son was declared guilty as charged. What about the sentence? The judge sentenced him to death by hanging.

The people could not believe it. Surely, the President would pardon his son. Surely, he would not allow his son to be executed.

But to everyone’s surprise, the president’s son was hanged without reprieve. He died and was buried in a common grave. The president did not even attend his son’s burial.

After the burial, the president addressed the nation and repeated his earlier declaration: “Anyone caught stealing public funds would suffer the same fate that happened to my son.”

This time, everybody believed him. They said: “This man is insane. This man is serious about fighting corruption. So serious that he did not even spare his son from death.

Extremist God

God’s judgement is pure and His attitude to sin is total. So total in fact that He destroyed the whole world in the Flood because of sin, saving only eight people out of all humanity. So total that he created the lake of fire and brimstone for the fallen angels where they are to be tormented for the ages of the ages. (Revelation 20:10).

So total that He turned the cities of Sodom and Gomorrah into ashes for the sins of the people. (2 Peter 2:6). So total that having saved His chosen people out of Egypt, He destroyed them all one by one in the wilderness, except for Joshua and Caleb.

So total that if anyone broke just a single one of the 613 laws of Moses, he is considered guilty of all the laws. (James 2:10). So total that even Moses, God’s dear friend who spoke to Him face to face, was not allowed to enter the Promised Land because of one single infraction. (Deuteronomy 3:25-26).

No wonder, the writer of Hebrews concluded: “It is a fearful thing to fall into the hands of the living God.” (Hebrews 10:31).

Despising grace

Nevertheless, this is God’s word of prophecy: “For Zion’s sake I will not hold My peace, and for Jerusalem’s sake I will not rest, until her righteousness goes forth as brightness, and her salvation as a lamp that burns.” (Isaiah 62:1).

Jesus was so determined that this prophecy be fulfilled that He left the glory of heaven to come down to earth to redeem us from our sins. He was so determined that He who created the heavens and the earth became a baby, crawled on the ground, sucked a woman’s breast, and grew in wisdom and stature, only to die a shameful death on the cross.

Therefore: “If we sin willfully after we have received the knowledge of the truth, there no longer remains a sacrifice for sins, but a certain fearful expectation of judgment, and fiery indignation which will devour the adversaries. Anyone who has rejected Moses’ law dies without mercy on the testimony of two or three witnesses. Of how much worse punishment, do you suppose, will he be thought worthy who has trampled the Son of God underfoot, counted the blood of the covenant by which he was sanctified a common thing, and insulted the Spirit of grace?” (Hebrews 10:26—29).

The redeemed of Christ must be determined to live sinless lives. We must reckon ourselves to be freed from sin. We must carry our crosses daily and follow Jesus: “the way the truth and the life.” (John 14:6). We must acknowledge that we were crucified with Christ so we can have the newness of life in Him.

But we cannot be freed from sin if we continue to make provision for the flesh. We cannot be freed from sin if we continue to excite the flesh. Otherwise, we would jump down from the cross.

“Since you have been raised to new life with Christ, set your sights on the realities of heaven, where Christ sits in the place of honour at God’s right hand. Think about the things of heaven, not the things of earth. For you died to this life, and your real life is hidden with Christ in God. And when Christ, who is your life, is revealed to the whole world, you will share in all his glory. So put to death the sinful, earthly things lurking within you. Have nothing to do with sexual immorality, impurity, lust, and evil desires. Don’t be greedy, for a greedy person is an idolater, worshipping the things of this world. Because of these sins, the anger of God is coming. You used to do these things when your life was still part of this world. But now is the time to get rid of anger, rage, malicious behaviour, slander, and dirty language. Don’t lie to each other, for you have stripped off your old sinful nature and all its wicked deeds. Put on your new nature, and be renewed as you learn to know your Creator and become like him.” (Colossians 3:1-10). CONCLUDED.

This email address is being protected from spambots. You need JavaScript enabled to view it.; www.femiaribisala.com

New research suggests that 74 is the new 71. Our perception of when “old age” begins is shifting, with most people believing this phase of life begins later than they used to, according to a new study published in the journal Psychology and Aging. While the study didn’t look at why this shift has occurred, experts say it makes sense — and is probably a good thing; humans on average are living longer than ever, and examples of people living full lives well beyond retirement age abound. Experts on aging — some of whom are in their 70s and 80s themselves — aren’t surprised, and say it’s part of a promising shift away from negative stereotypes about what getting older means.

Here’s what to know.

What does the study say?

Researchers at the Humboldt University in Berlin, Germany, asked more than 14,000 German adults when old age begins. They posed the question eight times over the 25-year period between 1911 and 1974, quizzing participants when they were anywhere from 40 to 100 years old.

At age 65, those born in 1911 said, on average, that old age begins at age 71. But, when people born in 1956 reached the same age, they said that someone was “old” at age 74, on average.

It wasn’t just a generational difference. People also pushed back their old-age number as they themselves aged. So, at age 64, people said that old age starts at 74.4, on average. But by the time those same people reached age 74, they believed they still weren’t yet old, and said old age begins at age 76.8.

Women also tended to say that old age started later than men believed and, the older people got, the wider that gender gap grew. People who were in better health and felt younger and less lonely tended to be more optimistic, saying old age begins later in life.

However, this trend seems to be slowing in recent years, the study authors noted. “That the trend is decelerated could be due to the fact that other trends — the increase in life expectancy or medical progress — are also not necessarily strictly linear,” lead author of the study, Markus Wettstein, psychology professor at Humboldt University, tells Yahoo Life.

Why we’re thinking differently about when old age starts

While the study didn't focus on why people's definition of old age changes over time, the researchers have some theories. “We know that life expectancy has increased, so the lifespan is more extended nowadays,” Wettstein tells Yahoo Life. “We also know that at least with regard to some health domains, older adults are healthier nowadays than older people were in the past. So we wanted to know, do middle-aged and older adults today set the beginning of old age later than the generations before them? This seems to be the case.”

In the U.S., the average life expectancy is now 77.5, according to the Centers for Disease Control and Prevention’s (CDC) latest data (In Germany, where the study was conducted, it’s 78.3 for men and 83.2 for women). Americans can now expect to live 5.5 years longer than they could 50 years ago, in 1974.

Wettstein adds that older adults now have a better sense of wellbeing and remain healthier for longer (though, by some measures, we’re not necessarily living healthier lives). “As long as older adults are healthy, they might have the impression that old age lies still ahead of them,” he says.

“Now, in most people’s daily lives, they know somebody who is 100,” Ellen Langer, a professor of psychology at Harvard University who researches mindset and aging, tells Yahoo Life. In the past, “you didn’t know anybody who lived to 100 — they were there, but few and far between — so you’d see yourself as old at, it used to be 50, then 60, then 70, then 80,” and so on, she says.

The perception that you can live a long life is magnified by the greater cultural visibility of today's older people, points out Langer. “The culture tells us, on occasion, how we’re supposed to be,” she says, including when to think of ourselves as “old.” But “there are always people who are willing to ignore that and they become role models for everyone else, like Jane Fonda: In the 1960s, she was doing all this exercise and then everybody started doing exercise, and it’s become the norm.”

Why redefining old age is a good thing

Changing perceptions of what constitutes “old age” is good news, but not surprising, experts say. “I think it’s positive,” says Katharine Esty, social psychologist and author of the book, Eightysomethings, tells Yahoo Life. She adds that how and when people think about “old age” is powerful. “People say ‘I’m older, I’m aging,’ they’ll use that phrasing, but not ‘I’m old,’” Esty says. “If you have a positive attitude toward aging, you’re going to live that 7.5 years longer,” she sas, referencing previous research that found that people who have a positive outlook toward aging live an average of 7.5 years longer than those who don’t.

It’s not clear from the new study whether the participants pushed back their definition of “old age” because they felt optimistic that they would live longer, or out of fear of becoming old themselves. But both Langer and Esty say embracing aging enthusiastically is crucial to living well for longer, no matter how many more years you get.

“Our whole American society doesn’t handle old age well — we need a redo, where we all learn what it is really like to be older,” says Esty, who is 89. “People are mistaken, they dread it and think they know for sure how it will be and spend so much energy trying not to look old.”

She compares aging to the Japanese art of kintsugi, in which broken pottery is mended with gold- or silver-dusted lacquer. The result is often regarded as more beautiful than the original, pristine piece. “We’re missing the beauty in aging,” says Esty. “In some ways, we, with our repaired hips and ankles and knees and hearing aids and our glasses, we’re more beautiful.”

Tips for aging well from aging experts

Langer’s key to aging well is not only believing that she can live a long and active life, but making a mindful effort to do so (she wrote a book on the very subject). She’s not referring to meditation and anxiety-relieving skills, but to a way of keeping your mind active. “When you think you’re everything is over, you withdraw from the world,” Langer says her 40 years of research has shown. “But if instead you try to add more life to your years and make the moments matter most mindfully, that’s going to matter; neurons are firing and that’s literally and figuratively enlivening.”

She stays mindful by continuing to teach, speak and write, and playing tennis in her free time. Esty says learning how to properly mourn losses, but not to dread them, or her own age, has helped her age well, as has writing her book, in which she interviewed more than 100 people in their 80s. “The people were so inspiring, and having the project inspired me,” she says. “I think, to age well, you need to have a purpose, that in some way you’re contributing to the world.”

Recognizing that purpose is helpful not only to older people, but to all of us, says Nilam Ram, co-author of the new study and Stanford University professor of psychology. “There is a utility for society to figure out how to leverage the expertise that our elders have,” he says. “Reducing the negative stereotypes around aging would be part of that process, to say, ‘Oh look, there’s this amazing community out there, how is it that they can keep contributing to society in ways that are fruitful for everyone?”

 

Yahoo Life

Prominent northern leaders have issued a stern caution against the proposed relocation of United States and French military bases from the Sahel to Nigeria. The warning is contained in an open letter addressed to President Bola Tinubu and the National Assembly leadership,

Those who signed the letter, as par Daily Trust, include Abubakar Siddique Mohammed of the Centre for Democratic Development, Research and Training (CEDDERT), Zaria; Kabiru Sulaiman Chafe, a former Minister of State for Petroleum Resources, representing the Arewa Research and Development Project (ARDP), Kaduna; Attahiru Muhammadu Jega, who is a former Chairman of the Independent National Electoral Commission (INEC); Jibrin Ibrahim from the Centre for Democracy and Development (CDD), Abuja; Auwal Musa (Rafsanjani) of the Civil Society Legislative Advocacy Centre (CCISLAC) Abuja; and Y. Z. Ya’u from the Centre for Information Technology and Development (CITAD), Kano. 

The prominent leaders highlighted concerns over potential pressure from foreign governments to sign new defence pacts allowing troop redeployment. Expressing apprehension about Nigeria's strategic vulnerability, the leaders emphasized the risks of compromising national defence and internal security. They cited the expulsion of foreign troops from neighboring countries due to perceived ineffectiveness, questioning the efficacy of hosting such bases.

Additionally, they warned against short-term alliances that could have long-term detrimental consequences for Nigeria's sovereignty and independence.

Highlighting the socio-economic and environmental implications, the leaders urged careful consideration before engaging in any agreements that could disproportionately impact the local population and environment.

As of now, there has been no public response from the presidency or the National Assembly regarding the concerns raised in the letter.

Chief Executive Officer of one of the leading cryptocurrency platforms in Nigeria, NoOnes, Ray Youssef, has revealed that peer-to-peer popularly known as P2P is about $500bn business in Nigeria alone.

Youssef said this in an interview with Techpoint Africa on the heels of an imminent ban on cryptocurrency in the country.

Speaking on the astronomical P2P transactions on Friday, the NoOnes boss asserted, “Peer-to-peer is probably like a half a trillion dollar business inside Nigeria alone. That’s the truth. Officially, cryptocurrency volume in Nigeria is at $59 billion a year, and that’s just all the official volume of everything that is happening on centralised exchanges that can be tracked on the blockchain. Yeah, let’s say $59bn to $60bn.

“That’s a joke; the real volume is ten times more than that. That’s peer-to-peer, and that’s not just volume that has happened.”

Youssef added that most of the P2P transactions do not happen on Binance or any other platform but on WhatsApp, Telegram, coffee shops and everywhere on the streets.

“Most peer-to-peer doesn’t happen on Binance P2P or NoOnes or any of these other platforms. They happen on WhatsApp, Telegram, the coffee shops, everywhere on the streets. That’s where most peer-to-peer is really happening. And in fact I would even say $60 billion going through the centralised exchanges. I think most of that is actually peer-to-peer volume they are kinda covering up too because Nigerians are very crafty and have ways to use things for things they weren’t necessarily mean’t to be used for,” he maintained.

Recall that in February 2021, the Central Bank of Nigeria issued a circular to deposit money banks (DMBs), non-bank financial institutions (NBFIs), and OFIs to close accounts of persons or entities involved in cryptocurrency transactions within their systems.

But the administration of President Bola Tinubu lifted the ban directing all banks and OFIs to carry out cryptocurrency services with the provisions of the guidelines to regulate the activities of virtual assets service providers.

The aftermath of the ban was the discovery by CBN that crypto traders use peer-to-peer trading to manipulate the naira via a pump-and-dump strategy.

In February 2024, the Central Bank Governor, Olayemi Cardoso, claimed $26 billion in untraceable transactions were processed by Binance.

This led to a crackdown on the global exchange Binance and the freezing of over 1,000 bank accounts involved in peer-to-peer transactions.

However, Nigerians, especially the P2P traders have begun to express displeasure at the new development by the Federal Government as many believe that cryptocurrency is legal and should not be seen as a factor behind the naira weakening.

A user, Kalu Aja, wrote in a thread on his handle, @FinPlanKaluAja2, “The Nigerian economy is slowing, grinding to insignificance.

“The economy is dying. The policymakers (Central Bank of Nigeria) know and are already warning with specificity.

“The political class response is to divide and distract.

“Guys I am not being alarmist; the economy is failing, it’s not my data or analysis.”

He claimed that economic activity has been contracting for eight consecutive months, mainly due to exchange rate pressures, rising input prices, security challenges, and others.

He added that the Composite Purchasing Managers’ Index declined sharply to 39.2 index points in February 2024 from 48.5 index points in the previous month.

He continued, ‘Both food and core inflation rose in February 2024, underpinning an acceleration in headline inflation to 31.70 per cent in February 2024 from 29.90 per cent in the previous month. This continued rise in inflation was mainly due to high production costs, lingering security challenges and exchange rate pressures,

“All quotes from CBN. Is this an environment that can attract FDI? When are Nigerian companies already in Nigeria not buying or investing?

“Abuja, we have a problem.”

Another user, who tweeted with @trendwithola, said, “So the Central Bank of Nigeria still feels cryptocurrency is the cause of Naira woes?

“Naira will keep trailing 1 USD, 1 GBP, 1 CAD if the right thing is not done.

“@cenbank should stop chasing shadows. You had better get your economic policies right. Don’t just copy and paste. Get a blueprint from the man wey sabi, Peter Obi or leave office,” she added.

“Rather than battling against cryptocurrency, why isn’t the Central Bank of Nigeria focused on leveraging the system to their advantage? Why not concentrate on regulating it for beneficial use? After all, you can’t dismantle what you haven’t built,” a user with the handle @Themytea2 submitted.

Recently, at least three Nigerian fintech startups, including Moniepoint, Opay and Palmpay, have threatened to block the accounts of their customers dealing in cryptocurrency and report those transactions to law enforcement agents after the National Security Adviser classified crypto trading as a national security issue.

That designation means a new crypto regulation that will ban peer-to-peer trading of cryptocurrencies is in the works, said Tosin Eniolorunda, the CEO of Moniepoint.

There are also growing concerns that a regulation to ban p2p trading may soon be made public.

 

Punch

Page 4 of 314
May 09, 2024

3 unwritten rules for workplace etiquette

Larry David For those who prioritize some standard of decorum, conventional or nontraditional social norms…
May 09, 2024

Criticism mounts over Lagos-Calabar coastal highway amid Umahi-Atiku clash

The Labour Party (LP), the Peoples Democratic Party (PDP) caucus in the House of Representatives,…
May 05, 2024

Here’s when people think old age begins — and why experts think it’s starting later

New research suggests that 74 is the new 71. Our perception of when “old age”…
April 13, 2024

A new camera can undress people almost in real time—to send a message about AI

Nuca, a new deepfake camera, is an art project that shows how artificial intelligence can…
May 05, 2024

Gunmen abduct Archbishop, 5 other clerics in Anambra

Uka Uka Osim, a leader of the Brotherhood of the Cross and Star, along with…
May 09, 2024

What to know after Day 805 of Russia-Ukraine war

RUSSIAN PERSPECTIVE What is known about string of blasts at Ukraine’s power facilities Russia’s Armed…
May 01, 2024

Wellspring Consulting proposes cybersecurity investment to boost Nigeria's economy

In a bid to rescue Nigeria from its economic challenges, Wellspring Consulting advocates for significant…
April 30, 2024

Finidi George is new Head Coach for Super Eagles

Former Nigerian winger Finidi George has been appointed as the head coach of the national…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2024 NewsScroll. All rights reserved.