By Adedapo Adesanya

Oil prices climbed on Monday on worries that crude supply could decline if the US President, Mr Donald Trump, follows through on threats to impose more tariffs on Russia and possible attack on Iran.

Brent futures were up by $1.11 or 1.5 per cent to $74.74 per barrel and the US West Texas Intermediate (WTI) crude rose by $2.12 or 3.1 per cent to settle at $71.48 per barrel.

Mr Trump on Sunday said he was “pissed off” with the Russian President, Mr Vladimir Putin, for stalling on a Ukraine peace deal, and threatened new tariffs on Russia.

His comments marked a notable change in tone for the American President who had always been softer on Russia.

However, the latest remarks suggest he may be losing patience with the Russian leader.

President Trump said if Russia were to block a peace deal, he would impose “secondary” tariffs of 25 per cent on any country buying Russian oil, which would include China and India.

President Putin had imposed a series of conditions on potential peace deals which go far beyond existing US-led proposals, some of which effectively push out the Ukrainian President, Mr Volodymyr Zelenskyy.

Russia said on Monday that the US were working on ideas for a possible peace settlement in Ukraine.

In a related development, President Trump also threatened Iran on Sunday with bombing and secondary tariffs if Tehran did not come to an agreement with Washington over its nuclear programme.

Iran’s Supreme Leader, Mr Ayatollah Ali Khamenei, said on Monday the US would receive a strong blow if it acts on Mr Trump’s threat.

Meanwhile, Iran’s Revolutionary Guards seized two foreign tankers in the Persian Gulf carrying over 3 million litres of allegedly smuggled diesel fuel.

Some analysts believe that President Trump may not act on his threats, a view that is putting a cap on oil prices.

Also, talks to restart Kurdish oil exports through the Iraq-Turkey pipeline have hit a snag as a lack of clarity over payments and contracts persists.

In another development that could impact oil supplies, the US revoked the license of Spanish oil company Repsol to export oil from Venezuela.

Repsol reportedly said it is talking with US authorities on ways the company can keep operating in Venezuela.

In the US, crude oil production fell by 305,000 barrels per day to 13.15 million barrels per day in January, the lowest since February 2024.

In a fast-evolving world of cryptocurrencies, where innovation and security are paramount, choosing the right wallet can make all the difference. With hundreds of options available, finding a platform that balances functionality, safety, and user experience is no easy feat. Among the contenders, Guarda Wallet has consistently risen to the top, earning a reputation as the best bitcoin wallet and arguably the best crypto wallet on the market today.

Whether you’re a seasoned trader, a long-term investor, or someone just stepping into the realm of digital currencies, Guarda Wallet offers a compelling solution for managing your digital wealth.

What is Guarda Wallet?

Guarda Wallet is a non-custodial, multi-platform cryptocurrency wallet that supports a wide range of digital assets. Founded in 2017, Guarda has built a strong reputation based on its core values of user autonomy, security, and convenience. Being non-custodial means that users retain full control over their private keys, reinforcing the true essence of decentralization.

Available as a web, desktop, mobile, and even Chrome extension app, Guarda offers users seamless access to their crypto holdings anytime and anywhere. It supports over 400,000 tokens and 50+ major blockchains, including Bitcoin, Ethereum, Binance Smart Chain, Cardano, Solana, and more.

Why Guarda is the Best Bitcoin Wallet

Bitcoin remains the cornerstone of the crypto world, often referred to as digital gold. As such, any wallet vying for the title of the best bitcoin wallet must deliver exceptional security, fast transactions, ease of use, and robust support for Bitcoin-specific functionalities. Here's why Guarda ticks all the right boxes:

1. Security First, Always

Guarda Wallet takes user security extremely seriously. Since it's non-custodial, no private keys are stored on the company's servers. All keys are generated and stored locally on the user’s device, minimizing the risk of centralized hacks. Additionally, the wallet supports backup encryption, biometric authentication, and password protection, ensuring multiple layers of safety for Bitcoin holders.

2. User-Friendly Interface

Whether you are a beginner or an expert, Guarda’s interface is clean, intuitive, and easy to navigate. It makes sending, receiving, and storing Bitcoin a smooth and hassle-free process. The wallet also offers in-app tutorials and prompts that guide new users step by step.

3. Integrated Exchange and Purchase Options

Guarda goes beyond simple storage. It allows users to buy Bitcoin with a credit card or bank transfer directly in the wallet. You can also swap BTC for other cryptocurrencies without needing to leave the app. These features make Guarda a one-stop-shop for anyone looking to maximize their crypto experience.

4. Multisignature Capabilities and Advanced Features

Guarda Wallet includes multisig functionality, which is especially useful for institutional users or those managing large Bitcoin holdings. Multisig wallets require multiple private keys to authorize a transaction, adding an additional layer of security.

5. Constant Updates and Responsive Support

The development team behind Guarda is highly active and continually updates the platform to support the latest blockchain innovations. They also offer 24/7 customer support, an often-overlooked aspect that elevates Guarda to being the best bitcoin wallet for users who want reliability and peace of mind.

Why Guarda is Also the Best Crypto Wallet Overall

While Bitcoin may be the most well-known cryptocurrency, the world of crypto extends far beyond it. From DeFi tokens to NFTs and smart contracts, the need for a versatile wallet has never been greater. This is where Guarda Wallet shines as the best crypto wallet for managing a wide array of assets.

1. Multi-Asset Support

Guarda Wallet supports more than 50 blockchains and over 400,000 tokens. Whether it’s Ethereum, Litecoin, XRP, Dogecoin, or lesser-known ERC-20 and BEP-20 tokens, you can manage them all in one place. This makes Guarda an ideal solution for diversified crypto portfolios.

2. DeFi Integration

The rise of Decentralized Finance (DeFi) has changed the way users interact with crypto. Guarda integrates seamlessly with DeFi protocols, allowing users to stake, lend, and earn yields directly from the wallet. This makes it not just a storage solution, but a gateway to financial freedom and innovation.

By Adedapo Adesanya

The Nigeria Extractive Industries Transparency Initiative (NEITI) has announced the recovery of N7.43 trillion (approximately $4.85 billion) from outstanding payments owed by oil and gas companies, following its industry-wide financial disclosures.

The recovery is part of the total $8.26 billion identified in NEITI’s 2021 oil and gas audit report.

This was disclosed by NEITI’s Executive Secretary, Mr Orji Orji, while speaking during a press briefing in Abuja over the weekend, noting that the recoveries demonstrate the agency’s commitment to transparency and accountability in Nigeria’s extractive sector.

The NEITI chief noted that while significant progress has been made in recovering funds, unresolved financial liabilities remain a major concern.

“So far, over $4.85 billion was recovered from the disclosures of $8.26 billion (made by NEITI in its 2021 oil and gas report. In the 2023 industry reports released in September 2024, NEITI disclosed liabilities of $6.175 billion and N66.378 billion, showing a significant decline from the liabilities of 2021 reports, yet worrisome because of the need for government to find resources to fund its 2025 budget,” Mr Orji stated.

He decried that despite NEITI’s efforts to ensure financial accountability in the oil and gas sector, several companies have continued to default on payments.

He called on relevant government bodies, including the Federal Inland Revenue Service (FIRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), to take stronger enforcement actions against defaulters and adopt more stringent measures to prevent future revenue leakages.

“Analyses of how these liabilities, when paid, could support the federal government’s domestic revenue mobilization reveals that the liabilities, when converted at N1,500 to one dollar, would amount to N9.33 trillion.

“The sum is more than the federal government’s total budget for health, education, agriculture and food security, which totaled N8.73 trillion. Further analyses show that the sum is also more than the total budget for national security at N6.11 trillion, health at N2.48 trillion and social welfare of N724 billion all put together. The liabilities can also knock off about 72 per cent of the federal government’s budget deficit of N13 trillion for 2025.”

He called on relevant agencies responsible for collecting these revenues to do what is needed and support our governments at all levels to provide the much-needed infrastructure for our citizens,” he stated.

Mr Orji further disclosed plans to broaden the initiative’s industry-wide reports to include dedicated sections on divestments, forward sales of oil and gas assets, and environmental remediation.

This move, he noted, is aimed at strengthening transparency and accountability in the extractive sector.

He stated that while the agency’s current Beneficial Ownership data is up-to-date as of 2023, more work is needed to deepen engagements and public disclosures on companies acquiring divested assets.

Mr Orji highlighted challenges such as institutional constraints, funding limitations, and resistance to change.

He called for collective efforts from the media, civil society, and stakeholders to ensure that Nigeria’s oil, gas, and mining revenues are managed prudently for the benefit of all citizens.

“Transparency is not just a policy; it is a responsibility. NEITI remains steadfast in ensuring that Nigeria’s extractive revenues are accounted for and utilized effectively,” he added.