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Nigerian military reacts to alleged indictment by #EndSARS panel report, faults procedure

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The Nigerian military has reacted to reports of an alleged indictment of the armed forces by the Lagos State Judicial Panel of Inquiry on police brutality and shootings at Lekki Tollgate during the #EndSARS protests, in its recently submitted final report. The military in its reaction faulted the procedure adopted in the release of the report saying that it was released through the wrong channel.

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This was made known by the Chief of Defence Staff, General Lucky Irabor, while answering questions from journalists after a courtesy visit to the Edo State Governor, on Tuesday, in Benin-City.

According to the News Agency of Nigeria, Irabor urged Nigerians to continue to trust the military in spite of reports making the rounds of the Army indictment in the #EndSARs protest at Lekki last year, adding that the Armed Forces are not the police, but are only called upon when the need arises.

What the Chief of Defence Staff is saying

Irabor in his statement said, ‘’Whether it is a true report, I can’t tell. But I’d like to indicate that the normal procedure is to have such a report submitted to the convening authority. And then there will be a white paper that will be presented, based on which one can make informed comments.

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‘’But whatever it is currently, I’d like to indicate that the Armed Forces of Nigeria is a professional armed force. We are peopled by Nigerians and we remain committed to the constitutional mandate. So we will not at this point think that Nigerians should make disparaging remarks regarding the Armed Forces of Nigeria, in the sense that we are professional armed forces. If there are issues, of course, we address them within the ambit of the provisions.

“It will not be right to disparage men and women who have worked so hard to ensure that the territorial integrity of the Nation is kept intact.

“So until I see the full report, I may not be able to say anything. But I can assure you that the Armed Forces of Nigeria is well disciplined and do not engage in the ignoble act.’’

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In case you missed it

It can be recalled that on Monday, November 15, 2021, the Judicial Panel probing allegations of police brutality in Lagos State as well as the shootings at Lekki Tollgate during the #EndSARS protest in October 2020, in a brief ceremony, submitted its findings to Governor Babajide Sanwo-Olu of Lagos State.

According to media reports, the Judicial Panel accused the Nigerian Army of shooting, injuring, and killing unarmed, helpless and defenceless protesters, without provocation or justification, while they were waving the Nigerian Flag and singing the National Anthem.

The panel said that the manner of assault and killing could in context be described as a massacre adding that the conduct of the Nigerian Army was exacerbated by its refusal to allow ambulances to render medical assistance to victims who required such assistance.

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Source: NairaMetrics

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El Salvador Buys Additional 150 BTC as price Falls Below $50,000

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El Salvador Bitcoin

Many in the cryptocurrency community are now calling the President of El Salvador a Chief Executive Officer (CEO) as he has managed his country like a CEO would a company. He has now allocated his ‘company’s’ treasury into Bitcoin, as he aims to ‘Buy the dip’, anytime there is a price drawdown in the asset class.

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Today ‘CEO’ Nayib Bukele took to Twitter to announce that his ‘company’, El Salvador, just bought an additional 150 BTC, adding to the 100 BTC the Latin American nation bought when Bitcoin’s price fell below $60,000.

He stated, “El Salvador just bought the dip! 150 coins at an average USD price of ~$48,670 🥳 #Bitcoin 🎄” He further explained that he missed the bottom as Bitcoin traded as low as $42,874.62 according to coinmarketcap. He stated, “missed the f***ing bottom by 7 minutes.”

What you should know

This purchase puts El Salvador’s Bitcoin reserve at a total of 1,270 BTC, which is worth nearly $61.6 million at the time of writing. On the 26th of November, just 8 days ago, the President announced the purchase of 100 BTC.

The Salvadorean government game plan includes withdrawing unrealized BTC gains in U.S. dollars to fund various developmental projects while maintaining the overall value of the central reserve.

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President Nayib Bukele first announced that El Salvador would be making their first major BTC purchase on the eve of the country’s Bitcoin Law going into effect on Sept. 7, buying 200 BTC when the price was roughly $52,000. The nation has seen added 1,020 BTC, with the nation buying whenever there has been a major sell off in the price of Bitcoin.

Nayib Bukele has proposed several initiatives in the country around Bitcoin adoption and mining. The government has started construction of the infrastructure to support the state-issued Bitcoin wallet, Chivo, and recently unveiled plans to launch its own Bitcoin City at the base of a volcano, funded initially by $1 billion in Bitcoin bonds.

Conclusion

Since the adoption of Bitcoin as a legal tender, the Salvadoran government has been investing gains onto various infrastructure development projects. In mid-October, the President announced that the $4 million from the profits of their Bitcoin Trust will be used to construct a new veterinary hospital in the capital, San Salvador. Early November, Bukele announced that the surplus earned from the state’s Bitcoin Trust account will be used for constructing 20 new schools.

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However, Many Salvadorans have pushed back against the crypto initiatives, specifically protesting Bukele and Bitcoin. In September, residents marching through the capital city destroyed one of the Chivo kiosks and defaced the remains with anti-BTC logos and signs.

Source: NairaMetrics

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Superalgos is the go to hub for day traders – Luis Molina, CEO

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Luis Molina

The SA token is the native token of the Superalgos platform. It was recently launched on PancakeSwap, a decentralized exchange (DEX), under the ticker ‘SA’. The launch comes after four years of development with tens of thousands of downloads during the open beta phase as the community builds up liquidity pools for its native Superalgos token on the DEX.

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Molina says, “Our token is a community token and it represents how much you have contributed to the project. The difference between the SA token and other tokens is that others use their token to incentivize security for their respective networks while we don’t need security for our network because our token runs on someone else’s network. What we do is we use 100% of the incentivization power of each token to incentivize contribution to the platform. In the first four years, the contribution was in the form of codes to the codebase to create these tools. We are transitioning to allowing people contribute trading intelligence in the form of indicators, strategies and also signals. The platform will be set up where people will be running bots which produces signals for traders and putting them in the Superalgos network for everyone to benefit.”

Molina concluded by telling us more about the Superalgos application and how traders can benefit from the #1 platform on GitHub. He also gave hints about his top five cryptocurrencies. Click here to watch the full interview.

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Source: NairaMetrics

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