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LCCI Urges Better Blockchain Adaptation in Nigeria

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Umi Blockchain Ecosystem

By Sodeinde Temidayo David

The Lagos Chamber of Commerce and Industry (LCCI) has reinforced the need to position Nigeria strategically to leverage blockchain technology for rapid economic growth, safer digital transactions, and improved cross border trade.

Blockchain is an encrypted list of records distributed across multiple computer systems and stored in groups called blocks that are chronologically ordered and linked together.

Mrs Toki Mabogunje, President, LCCI, gave the advice at a webinar themed Unlocking the Opportunities of Blockchain Technology on Wednesday in Lagos.

She noted that the Central Bank of Nigeria (CBN) proposed digital currency, e-Naira, built on blockchain, would create employment for the teeming youth, financial inclusion, faster and safer digital transactions, and reduced transaction risks.

She noted that the webinar was organised to deepen awareness among stakeholders about the benefits of the adoption of blockchain innovations to drive business, as well as regulatory and governance processes.

“Nigeria’s participation in the blockchain technology global market, especially in cryptocurrencies, has been recognised.

“According to Chainalysis (the blockchain data platform), Nigeria has the 8th highest crypto adoption in the world and generally, blockchain could potentially contribute up to $29 billion to Nigeria’s GDP by 2030.

“Unlocking these inherent potentials requires a level-playing field for all participants in both private and public sectors by eliminating entry barriers.

“This does not, however, imply total liberalisation or allowing self-rule to regulate the Nigeria blockchain ecosystem,” she said.

Mrs Mabogunje advised that regulation of blockchain should be dynamic, robust, responsive, globally competitive and fit for the Nigerian context.

“This will give a fillip to the tech-savvy youth to innovate, spur confidence of tech investors, and attract significant investments in the blockchain ecosystem,” she said.

On his part, Mr Uche Elendu, Chief Executive Officer, Appzone Switch, said that blockchain provided trust without human intermediaries, and auto-execute contracts transparently.

He listed the features of blockchain to include enhanced security, data immutability, transparency, privacy;  and allowed peer to peer transactions without an intermediary.

He called for massive stakeholder education and sensitisation, and the creation of platforms for traditional veterans to collaborate with tech entrepreneurs to unlock the value in the technology.

“Blockchain has governance and regulatory framework which ensures that security audits would be done on smart contracts to verify that their logic is in line with rules of business network.

“It is safe and secured, and is one of the biggest opportunities we can think of in the next decades.

“The proper implementation of blockchain technology would enable the cashless economy that the country has been trying to achieve,” he said.

Mr Ernest Mbenkum, Founder, Bantu Blockchain Foundation, charged entrepreneurs to embrace blockchain technology, particularly, the African development model, “Bantu for improved global payment and trade.”

He revealed that the Bantu blockchain was designed to quickly and securely transfer, swap, and trade digital assets globally and at almost zero cost.

He noted that blockchain opportunities for Africa would dramatically increase local production and exports via asset tokenisation and reduce dependence on imports.

He said that another opportunity for Africa was in the need for an open, secure and transparent Africa led global infrastructure to unlock unlimited liquidity via resources and asset tokenisation and real-time value transfer.

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Pastor Ogbueli’s Abuja Night of Glory Holds Today

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Abuja Night of Glory

By Blaise Udunze

Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.

The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.

The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.

Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.

Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.

The event is intended for all individuals trusting God for divine intervention in any area of life.

Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.

Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.

Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.

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Rivers Speaker, 15 Other Lawmakers Leave PDP for APC

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rivers speaker Martin Amaewhule defect

By Modupe Gbadeyanka

The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).

At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.

This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.

The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.

This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.

A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.

Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.

It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.

Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.

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Nigeria Risks Brain Drain in Energy Sector—PENGASSAN

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energy sector

By Adedapo Adesanya

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.

The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.

Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.

“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.

According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.

“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.

He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.

Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.

He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.

“This industry recruits the best. Companies must provide the best conditions,” he said.

On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.

“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.

He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.

Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.

He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.

“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.

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