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Hashkey Group CEO Xiao Feng believes a pro-crypto Trump administration could pressure China to relax its stance on Bitcoin (BTC) and other digital assets.
In an interview with the South China Morning Post, Feng expressed his confidence that China’s crypto market will eventually open up, particularly if President Donald Trump and the US Congress adopt supportive policies for digital assets.
Feng argued that clear and consistent US crypto regulations would drive China to reconsider its approach. He said:
“If the US Congress and the president take proactive steps to clarify crypto regulations, continue to legislate, and advocate for the sector, this would certainly drive China to accept crypto.”
Trump has made digital assets a central issue in his 2024 campaign. He has pledged to remove Securities and Exchange Commission (SEC) Chair Gary Gensler on his first day in office and to reverse policies that, in his view, stifle innovation in the crypto industry.
The US President-elect has also proposed halting the sale of the US government’s seized Bitcoin and holding it strategically as an investment asset.
Feng’s remarks suggest that, if enacted, these policy changes could shift China’s historically negative stance toward crypto.
China has maintained strict regulations on digital assets, having banned initial coin offerings (ICOs) in 2017 and crypto trading and mining in 2021.
However, Feng suggested that China could eventually open its market to regulated stablecoins — digital currencies pegged to real-world assets — to facilitate cross-border trade.
According to Feng:
“Stablecoins offer the best solution for cross-border business-to-consumer trade.”
Stablecoins have been increasingly recognized for their potential to enhance cross-border payments by offering faster, more cost-effective, and transparent alternatives to traditional methods. Their adoption is seen as a significant advancement in the global financial landscape.
Their usage has grown significantly this year, especially in emerging and developing economies struggling with high inflation and economic uncertainty.
As of mid-2024, the cumulative market capitalization of stablecoins reached approximately $165 billion, facilitating trillions of dollars in transactions annually. Notably, over 20 million blockchain addresses engaged in stablecoin transactions each month, highlighting their increasing role in everyday financial activities.
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Turkey has made significant economic, military and diplomatic investments in Africa as part of its strategy in recent years to deepen ties across the continent.
When Ethiopia and Somalia agreed this year to have Turkey play the role of mediator in their feud over Red Sea access in Somaliland, experts said it signaled Ankara’s growing influence in the Horn of Africa. But with negotiations stalled and rising instability in the Horn, it is unclear whether Turkey will be able to negotiate a resolution to the conflict.
Ali Bilgic, professor of International Relations and Middle East Politics at Loughborough University in England, called it a “diplomatic balancing act motivated by Ankara’s strategic interest in maintaining stability in the Horn of Africa.”
“Turkey has made notable strides in realizing its ambition to become a key economic, humanitarian and military power in sub-Saharan Africa,” he told the South Africa-based Institute for Security Studies. “Establishing military bases, such as the one in Somalia, and training local forces have solidified its geopolitical presence.”
In need of its own access to the Red Sea, landlocked Ethiopia in January 2024 signed a memorandum of understanding to lease land for a port and naval base from the breakaway region of Somaliland in exchange for possible recognition of its independence. Though the deal has yet to be completed, Somalia accuses Ethiopia of violating its territorial sovereignty.
In May, Ethiopian Prime Minister Abiy Ahmed asked Turkish President Recep Tayyip Erdoğan to mediate. Turkey hosted Ethiopian and Somali officials for two rounds of talks in July and August but was not able to achieve a resolution. A third meeting, initially scheduled for September 17, was cancelled without explanation.
“The balancing act is becoming difficult as Ethiopia has expressed concerns about Turkey’s deepening relationship with Somalia, particularly its military support,” security expert Peter Fabricius wrote for the institute on November 1.
Ankara has invested heavily in Somalia agriculturally, militarily and diplomatically over the last decade, building the airport in Mogadishu, a military training center and a hospital. In the aftermath of Ethiopia’s Red Sea port deal with Somaliland, Somalia signed a new coastal and maritime defense pact with Turkey in February.
“Turkey sees its relations with Somalia as an example of how to engage in diplomatic relations with the countries of the continent,” Aykhan Ajalov wrote in an October 29 analysis for the Topchubashov Center, an Azerbaijan-based security think tank.
The regional dispute became more complicated when Egypt began sending Soldiers and weapons to Somalia and forged multiple security alliances meant to push back against Ethiopia’s regional presence. Egypt has its own dispute regarding the Grand Ethiopian Renaissance Dam and Ethiopia’s control over the flow of the Nile River. But Egypt also is jockeying with Ethiopia and Turkey for influence in the Horn.
“Turkey needs Somalia and Ethiopia to play well together, so this is vitally important for Turkish regional ambitions,” geopolitical consultant Norman Ricklefs told Voice of America in an October 15 video.
The post Turkey Hopes Peacemaking Can Increase Influence in Horn of Africa appeared first on Africa Defense Forum.
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The Islamic State-Sahel Province (IS Sahel) is gaining territory amid a security situation that has worsened since military juntas took power in Burkina Faso, Mali and Niger.
The group is expanding its operations around the Sahel after the drawdown of Western troops from the region and as al-Qaida-affiliated Jama’at Nusrat al-Islam wal-Muslimin (JNIM) ceded vast pockets of territory near the border between Mali and Niger. The two groups have fought each another in the past.
“There is a huge security vacuum after the withdrawal of the French and American military” from the region, Shaantanu Shankar, of the Economist Intelligence Unit, told Voice of America (VOA). Shankar added that Russian mercenaries financed by the junta governments are not likely to fill the security gap adequately.
A lack of employment opportunities in the region allows the group to recruit new members from marginalized communities that feel neglected by their governments.
“There are very few opportunities for people in rural Sahel, especially the youth,” Heni Nsabia, the Armed Conflict Location and Event Data project’s (ACLED) analysis coordinator for West Africa, told VOA. “But the other aspect is that people whose families and communities were targeted by state forces seek security, status and vengeance.”
Since last year, the violent extremist organization has tried to build support among local populations, according to a report by the Global Initiative Against Transnational Organized Crime (GITOC).
It is especially active in the Malian region of Ménaka, which it almost completely controls, except for the town of Ménaka. However, the group now controls all roads leading to and from the town, allowing it to regulate the movement of people and goods and profit from taxes collected through legal and illegal activities.
In early 2023, IS Sahel began engaging in conventional economic activity in the region, as it needed to revive supply chains and the local economy which it had previously damaged through attacks, according to the GITOC. The group also realized that long-term territorial control would be best achieved by forging positive relationships with locals.
“By positioning itself as a provider of livelihoods and actively involving itself in critical local economies (notably gold mining and goods smuggling), the group has sought to burnish its governance credentials,” the GITOC report said.
The group has encouraged communities to return by distributing leaflets, preaching in mosques, using social media to communicate its methods and values, offering protection, returning livestock it had stolen, and investing in rebuilding infrastructure it destroyed.
It also has punished nonaffiliated bandits and criminals. In July 2023, IS Sahel members amputated the hands and feet of two young people for extorting taxes in the group’s name, according to the GITOC.
There is anecdotal evidence that the group is employing its amended playbook in the northern Beninese department of Alibori, where it reportedly buys small boats for traders who smuggle goods across the Niger River into Niger. It also has begun taxing communities to access Benin’s W National Park and collecting zakat, a religious tax.
Since Alibori borders Nigeria, IS Sahel also could link itself with the Islamic State West Africa Province (ISWAP), which could risk a further regional resurgence of jihadist activity.
“It will be especially interesting to see how far IS Sahel seeks to build legitimacy among communities in areas where its territorial control is not yet cemented,” the GITOC report said. “If the group’s continued territorial expansion is accompanied by a further reduction in its reliance on violence in favor of relationship building, this would signal a medium-to-long-term shift in strategy, likely facilitating its regional durability.”
The post Islamic State Sahel Province Expands Influence as It Gains Territory appeared first on Africa Defense Forum.
As I reminisce with every sense of humility and gratitude for the blessings of acquaintance with a remarkable individual who celebrates a significant milestone in life as he turns 60 on October 24, 2024, I am reminded not only of the years he has lived but of the incredible legacy that embodies his existence as a man of purpose and influence within the academic field where we share similarities, and humanity at large.
Undoubtedly, the celebrant has made his name in Nigerian academia and beyond. Prof. Yagboyaju is a distinguished professor in the Department of Political Science at the University of Ibadan. He dedicated his life to expanding the frontiers of knowledge, shaping minds, and equally impacting the society he holds dear.
His journey proves the power of passion, dedication, and resilience that continuously inspires others who have had the opportunity to mirror this erudite scholar. I am pleased to write to pay an overdue tribute to his life’s work, values, and invaluable contributions to mark his special day.
Prof. Yagboyaju’s achievements and contributions are not limited to his academic pursuits. He is a mentor to students and younger academics, a respected colleague, a dedicated community leader and, most importantly, a devoted family man who believes in keeping close ties. His unwavering commitment to the betterment of society, his contributions to education, and his profound impact on those around him speak volumes about his character and values. With great admiration and gratitude, I join the host of innumerable well-wishers to honour Prof. Yagboyaju’s life and legacy as he celebrates 60 years of purpose, wisdom, and positive influence.
Undoubtedly, it is no exaggeration to say that Dhikru is not an unfamiliar face to many due to the overreaching impacts across essential aspects of social existence. With immeasurable significance, Prof. Yagboyaju, throughout his career, has made outstanding contributions to political science, particularly in the areas of Development Administration and Policy & Strategic Studies. His research has delved into the complexities of Nigeria’s administrative politics, offering insights into the challenges and opportunities that shape the country’s administrative landscape.
His work in these areas has significantly contributed to ensuring lasting solutions and proper understanding are created in these fields in a way that has influenced the academic community and policymakers, who have benefited from his analyses and recommendations. Very crucial to these is the distinctive honour conferred on him by the duo of Westminster Foundation for Democracy (WFD), United Kingdom, and National Institute for Legislative & Democratic Studies (NILDS) to present a paper on the report of Baseline Study of Political Parties’ performance in Nigeria & Development of Assessment Tool (Nigeria Open Political Party Project) in a program that started in December last year and ended in January 2024.
Prof. Yagboyaju’s scholarly pursuits are marked by a persistent commitment to addressing real-world problems, which invariably leads to his contributions toward developing solutions that promote good governance and social justice. His research cuts across topics relating to electoral processes, public administration, and the role of civil-military society in democracy, which has helped create an equilibrium in understanding the factors that influence political stability and development.
His presentation, titled “Is a storm brewing towards 2023? The Challenges of Violence & Electoral Competition in Nigeria”, which came up months towards the general elections, was an ice breaker that calmed the nerves of many concerned Nigerians. We all know the precarious aura that permeated the air as the election drew near last year. Luckily for the nation, the presence of scholars like Prof. Yagboyaju provided a deeper understanding of the political dynamics that shape Nigeria, with advocacy for reforms that would enhance transparency, accountability, and citizen participation in politics.
Over the years, Prof. Yagboyaju has become a respected figure in Nigerian academia. His career within the university’s walls has seen him hold crucial positions within the system, where he has inspired and influenced students who seek to model his dedication and passion for learning. In his records of excellence and commitment to teaching, what he loves most are three university experiences where he taught students of various levels. The Departments of Political Sciences at the University of Lagos, Akoka, Obafemi Awolowo University, Ife and the University of Ibadan, where he has been for almost a decade now, can testify to the greatness that surrounds this erudite scholar. Learning under him, as testified, has been insightful, engaging and exciting.
Prof. Yagboyaju’s legacy is not only in the knowledge he imparts but in the minds he shapes and the academic standards he upholds. Apart from the academic exploits in class, he has contributed immensely to the wholesome transformation of education in his way through book publications, research works, and thesis supervision within and outside Nigeria, in addition to acting as a resource person and trainer for government institutions, private establishments and the military. He is a proud author of many books, a co-author and contributor to various journals, reports and technical write-ups.
Ranking topmost amongst the significant modest effort and utmost dedication towards scholarship and authentic research is: “Nigeria’s Fourth Republic and the Challenge of a Faltering Democratization,” published in African Studies Quarterly, where he had a hundred per cent contribution in dissecting the intricate nature of the subject. In the same vein, he is also credited with his dutiful contribution to understudying the prevailing corruption issues. This menace has marred the functionality of government institutions in Nigeria. In this regard, he authored a masterpiece on the quest for money through public finance concerning the moral decadence that comes with it. His masterpiece, “Morality and Politics in Nigeria: What has money got to do with it?” was featured in the Asian Journal of African Studies.
Having drawn examples from world best practices, one of Dhikru’s significant contributions to scholarship revolves around his recommendations on the need to ensure the return of the functionality of Nigeria and its sensitive institutions towards an effort to be autonomous and independent. He has argued that this would not materialize in thin air unless the nation steers its ship towards becoming a more vibrant state, emphasizing cordial state-society relationships where many sectors are more interested and involved in public affairs and governance.
As a community man, Prof. Yagboyaju’s unwavering commitment to community service has earned him profound respect and recognition across Nigeria. This started with the earliest recognition conferred in 1995, as he was honoured with the title of Asiwaju Are-Ago of Erin Osun in Osun State as a testament to his influence and dedication to the well-being of his community. Within the same year, he got the Merit Award for Excellence from the Federation of Edeland Students Union, an indigenous organization at the University of Ibadan, for his commendable role in uplifting students from Edeland and empowering the next generation.
As he continued to impact lives, Prof. Yagboyaju took on roles that emphasized his belief in education as a transformative force. Notably, from 2009 to 2021, he served as the Chairman of the Governing Board of Muslim Model College, Ibadan (MMCI), where he led with enthusiasm and changed the course of activities under his watch, as he consistently fostered a culture of academic excellence and moral integrity, guiding students to be both knowledgeable and conscientious citizens.
Prof. Yagboyaju is genuinely worthy of emulation. To continue to list his awards and honorary recognition would, in truth, go against the meek and modest personality he portrays. However, I would like to generously mention his title as the Taiyese of the Iyamoye Kingdom, an honour bestowed upon him by the good people of Kogi State in 2021. This honour reflects the vastness of his influence beyond his hometown as a testimony to his status as a beloved figure in multiple communities.
As we celebrate Prof. Dhikru Adewale Yagboyaju’s 60th birthday, I attest to a life dedicated to purpose and a legacy that will undoubtedly stand the test of time. His vast contributions to academia, his positive influence on Nigerian society, and his unwavering devotion to both his family and community exemplify the remarkable individual he is. Prof. Yagboyaju has devoted himself to pursuing knowledge, elevating education, and advancing society with integrity, humility, and genuine compassion. We are profoundly grateful for the insights he has shared, the countless lives he has influenced, and the inspiring example he has set for all of us.
As he enters this exciting new decade, I join my voice with others to wish him abundant health, joy, and personal fulfilment. May his wisdom continue to inspire those around him, and may his legacy resonate across generations: happy 60th birthday, Prof. Yagboyaju. Be assured of my most profound respect and heartfelt admiration for your contributions, kindness, and unwavering commitment to making the world a better place. Your impact is truly boundless, and we celebrate you today with immense gratitude.
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Tell Nigerians cost of your PMS, PETROAN tells Dangote Refinery
The First Lady of Edo State, Mrs Betsy Obaseki, has dismissed allegations that President Bola Ahmed Tinubu has planned to influence the outcome of next Saturday’s governorship election in favour of the All Progressives Congress, APC, using “federal might.”
According to report the Edo First Lady said this while responding to questions during an online television interview.
“President Tinubu is smarter and wiser. He is not at their level at all. I also want to praise former President Muhammadu Buhari for his democratic stance and using federal power only to safeguard voters, not to tamper with election results,” she said.
Mrs Obaseki opined that President Tinubu would not undermine democratic processes given his history as a reformer during his tenure as governor of Lagos State.
“President Tinubu, who is committed to good governance and continuity, would not disrupt the progress made in Edo under my husband’s administration, especially when the state has received international recognition for its development.
“Now the father of the nation, President Tinubu would not lend his support to efforts aimed at destabilising a well-governed state. If every state governor begins to toe these paths set out in Edo and Lagos, one day we will all wake up to a good Nigeria,” she stated.
Global PR firm Provoke Media has listed the Group Head of Corporate Communications, Dangote Group, Anthony Chiejina, as one of the “100 most influential communications and marketing executives in the world 2024.”
The organisation noted that corporations and brands continue to face intense consumer, media and stakeholder scrutiny against the “permacrisis” backdrop of major geopolitical, economic, societal, cultural and environmental upheaval around the world.
“And their senior communications and marketing executives are expected to deliver more than ever, faster than ever. Meanwhile, smart CEOs recognise that trusted communications counsel is not only integral to reputation and transformation but is business-critical in such uncertain times — and the 100 names on our 2024 list provide ample evidence of this recognition,” it added.
Chiejina was selected alongside 99 other communications and marketing executives of highly rated government agencies, global corporations and conglomerates.
Chiejina made the enviable list alongside Zenia Mucha, Chief Brand & Communications Officer
TikTok; Vanessa Broadhurst, EVP, Global Corporate Affairs, Johnson & Johnson; Valerie Tan, SVP Corporate Communications, CSR & Media, Emirates; Steve John, Chief Communications & Brand Officer,
HSBC; Sally Susman, EVP, Chief Corporate Affairs Officer, Pfizer, and Sandy Rodriguez,
Global Chief Communications Officer,
McDonalds.
Also on the list are Abhinav Kumar, Global Chief Marketing Officer, TCS; AJ Jones, EVP, Chief Corporate Affairs Officer, Starbucks; Alex Aiken, Communications Advisor, UAE Ministry of Foreign Affairs; Allyson Park, Chief Communications Officer, Walmart; Amy Bonitatibus, Chief Corporate Affairs & Communications Officer, PayPal; Andreas Bartels, Head of Communications, Lufthansa, and Bea Perez, EVP, Global Chief Communications, Sustainability & Strategic Partnerships Officer, Coca-Cola, among others.
Anthony Chiejina graduated from the University of Lagos in 1981 with a B.Sc (Hons) Degree in Mass Communication (Second Class Upper). He has thereafter bagged various other academic degrees, including an M.Sc in Industrial Relations & Personnel Management University of Lagos (1984), an M.A. in Organisational Analysis & Behaviour University of Lancaster, UK (1988) and an M.A. Development Studies, Institute of Social Studies (ISS), The Hague, Netherlands (1994).
He served variously as Associate Editor & Deputy Editor of both African Economic Digest, London and African Concord, Lagos. He has worked with Zenith Bank Plc as Assistant General Manager (AGM) and Oceanic Bank International Plc as Deputy General Manager (DGM) where he was the Group Head, Corporate Communications.
He is currently the Group Chief Branding and Communications Officer, Dangote Industries Limited overseeing all communications strategies across Business Units and Pan-African operations.
He received numerous academic distinctions and awards including Salzburg Fellow for Gifted Mid-Career Professional, Austria; British Government Scholarship (ODASS) for Graduate Studies, UK, Netherlands Fellowship; University of Lagos Scholar 1982 and 1984; University of Oslo, Norway, Fellowship; Fellow of Oxford University Centre of Corporate Reputation; Member, America Public Relations Association and British Public Relations Association, Associate, Institute of Directors (IoD), and Fellow, Association of Sustainability Professionals of Nigeria (ASPN).
LEADERSHIP reports that The Influence 100 is PRovoke Media’s annual compilation of the most influential in-house communicators around the world: the chief communications officers and chief marketing officers who have the most clout in terms of their personal voice, the status of the companies they work for, and the PR agency hiring decisions they make.
The Rivers State chapter of the All Progressives Congress, APC, has declared that the Minister of the Federal Capital Territory, FCT, Nyesom Wike does not influence its affairs.
The Chairman of Rivers APC caretaker committee, Tony Okocha, said Wike is not a member of the party and does not attend any political meetings.
According to Okocha, Wike does not attend any of their political meetings.
Addressing journalists at the national secretariat of APC in Abuja, Okocha described Wike as an ‘unrepentant’ member of the Peoples Democratic Party (PDP).
He said, “When I hear this, I laugh because Wike is a member of PDP, unrepentant PDP. We are APC here. Will anybody suggest that because Mr Wike is a minister under our government of APC, we should be at dagger with him?
“Wike doesn’t attend our meeting. I have briefed you here. We have held meetings with stakeholders, but Wike was never there. So at what point does he influence APC in Rivers State?
“His influence, as much as you know, is because he is a minister under an APC government. So we can’t be in enmity with him. But to say that he influences us, how? Does he pay our bills or attend our meetings? The answer is no.”
Ahead of the September 21, 2024, governorship election in Edo State, Matthew Iduoriyekemwen, the Director-General of the Asue/Ogie Campaign Council, on Tuesday, said no party in the state should count on any external influence to win the election.
According to report Iduoriyekemwen made the remark during a solidarity march for the Peoples Democratic Party, PDP, governorship candidate, Asue Ighodalo in Benin City.
Iduoriyekemwen, who led other members of the council, including the party’s flag bearer and his running mate on the solidarity rally, noted that President Bola Tinubu had always been at the forefront of the fight for democracy in Nigeria.
While calling on the people of the state to remain committed and vote for the party’s candidate at the election, he alleged that the opposition party was trying to distract the public with the court judgement.
He opined that the judgement would not stand.
Addressing the crowd of supporters and party’s faithful, Asue Ighodalo, the PDP gubernatorial candidate, accompanied by his running mate, Osarodion Ogie, urged the people to support the party to win the election.
According to him, “by the grace of God, by September, when you people would have voted for me and Ogie, more upward movement will come.
“I want you to remain strong. I want you to remain happy. Don’t be afraid of anything. God is in control. Everybody should get their PVCs ready for the September 21 election.”
“We will vote for PDP to ensure that the votes are counted and we will follow it to the collation centre until we are announced the winner and the state will continue to prosper,” he said.
Other chieftains of the party that participated at the solidarity rally were Rev. Olu Martins, Deputy Director, Media and Publicity of the PDP Governorship Campaign Council, Speaker of the Edo State House of Assembly, Hon Blessing Agbebaku and PDP lawmakers in the House.
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