Understanding the concept of Crypto Asset Management

Bitsave, the Savings protocol of Web3 finance, by Crypto Smart added another feather to its wings as it was announced as an exemplary DeFi project.

The announcement was made at the closing ceremony of the global Omnichain hackathon by Zetachain in collaboration with DoraHacks.

Prior to the announcement of the winners from the 6 categories, 4 projects were selected for a demo presentation.

While talking about the 4 projects that were selected for the demo presentation, Brian from DoraHacks emphasized that the 4 projects selected are really strong and outstanding projects.

Being part of the selected projects for the demo presentation signifies that Bitsave is not just a strong project but also an outstanding project.

Bitsave was the first project to be presented and the presentation was done by Karla Obakpolor, the founder and CEO of Crypto Smart.

During the announcement of the winners, Denis Fadeev, Head of Developer Experience at Zetachain reiterates that Bitsave is a project with so much potential, user friendly and has a social impact.

Prior to being declared as an exemplary defi project at the Omnichain hackathon, Bitsave protocol was announced as the most impactful solution at the Mega Ace Hackathon.

Karla Obakpolor, Founder and CEO of Crypto Smart clarifies that the description of Bitsave by experienced developers, outstanding founders and blockchain enthusiasts around the world is a testament of the exemplary and outstanding nature of Bitsave Protocol.

About Bitsave Protocol

Bitsave protocol is the SaveFi protocol built by Crypto Smart which helps individuals to save and earn interest in cryptocurrency without losing their capital to the market volatility.

Click here to see a live presentation of Bitsave in 7mins.

Also, you can join the waitlist and enjoy the new value chain in web3 finance.

About Omnichain Hackathon

Omnichain Hackathon is a collaborative effort by Zetachain and DoraHacks to support excellent projects and reach out to blockchain developers to launch novel blockchain solutions on Zetachain.

About Crypto Smart

Crypto Smart is a B2B Crypto Asset Management company founded in January 2021 by Karla Obakpolor, a blockchain business developer and Algorand ambassador in 2020.

The company offers fast and secure services which are based on a well-encrypted system with 24/7 customer support services. It has grown from offering its services to individuals, to companies and major enterprises as well as providing crypto education through various crypto courses.

Crypto Smart upscaled to the Algorand blockchain and offers blockchain products which include Bitsave Protocol; a SaveFi protocol that combines savings with DeFi, and SmartChange; a cross-chain P2P marketplace.

Stock Market Sees First Gain This Week

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August 17, 2023

Global Stock Market: Shares Trading Mixed Amid Worries About China Economy

Nigeria’s equities market on Thursday recorded its first gain this week amid recoveries in some of the week’s decliners. Thanks to consumer goods, insurance and oil & gas stocks that occupied the buy-side of the bourse.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) closed higher by 0.06percent from preceding 64,625.28 points to 64,663.78 points while equities market capitalisation increased from N35.369trillion.

The market’s year-to-date (YtD) positive return increased to 26.17 percent.

Cutix led other advancers after its share price rose from N2.50 to N2.70, up by 20kobo or 8percent. It was followed by John Holt which increased from N1.20 to N1.32, after adding 12kobo or 10percent, and CWG which rose from N3.28 to N3.60, adding 32kobo or 9.76percent.

This week, the market has decreased by 1.01percent.

In 5,176 deals, investors exchanged 320,346,677 shares valued at N3.729billion. Fidelity Bank, Transcorp, UBA, Universal Insurance and FBN Holdings were actively traded stocks.

Importation: CBN Launches Price Verification System Portal

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August 17, 2023

The Price Verification System (PVS) portal by the Central Bank of Nigeria has gone live, the Apex bank has said.

This follows the successful conduct of the pilot run, and various training held with banks in the country, the bank noted.

In a statement signed by the Director, Trade and Exchange Department, CBN, Dr O.S. Nnaji, the Apex bank said “with effect from August 31, all applications for Form M shall be accompanied by a valid price verification report generated from the PVS portal.”

Form M is a mandatory statutory document to be completed by all importers for importation of goods into Nigeria.

And the life span of a Form M varies according to the nature of a business.

The statement added: “For the avoidance of doubt, by the circular, the Price Verification Report has become a mandatory trade document precedent to the completion of a Form M.

“All authorised dealers are hereby advised to bring this to the attention of their customers as any case of infraction will be appropriately sanctioned. ”

The CBN further called for strict compliance from all concerned.

NEC Sets Up Committee To Liaise With Labour Leaders

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August 17, 2023

The National Economic Council, NEC, has set up an Ad-hoc Committee to engage with the leadership of labour unions to create a forum for dialogue towards resolving issues surrounding the petrol subsidy removal in Nigeria.

The decision was reached on Thursday in Abuja at the 135th meeting of NEC chaired by Vice President Kashim Shettima.

The committee comprises the Nigerian Governors Forum Chairman, AbdulRahman AbdulRazaq; Governor of Anambra State, Chukwuma Soludo; Chairman of Progressives Governors Forum, Hope Uzodinma of Imo State; PDP Governors Forum Chairman, Bala Mohammed of Bauchi State and Abia State Governor, Alex Otti.

The Vice President said the committee would liaise with the leadership of labour unions in the country to find a way forward on the emerging issues in the interest of the nation.

Council also received progress reports on the ongoing nationwide distribution of rice, grains, fertilizer, other items to States and N5 billion financial support, provided by the Federal Government and commended the Central Bank of Nigeria (CBN) and the National Emergency Management Agency (NEMA) for their interventions.

The Council noted various interventions by State governments and urged them to upscale the distribution of palliatives towards alleviating the suffering of citizens, especially vulnerable groups.

Lola Ade-John Appointed As Minister Of Tourism

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August 17, 2023

Lola Ade-John, has been appointed as Minister of Tourism by President Bola Ahmed Tinubu.

Before her appointment by President Bola Ahmed Tinubu, she worked with Access Bank, United Bank for Africa (as head of applications), Ecobank, and Novateur Business Technology.

Education
Lola Ade John’s academic journey started from the University of Ibadan where she obtained a B.Sc. in Computer Science in 1984. Her Second Class Upper honours grade earned her the spot as the top graduate of her class that year.

Career
Her professional journey began as part of the National Youth Service assignment, where she supported systems used by Petroleum Engineers and the Personnel department in various divisions.

Her first official employment was as a System Analyst at The Shell Petroleum Development Company Of Nigeria Ltd where she worked for 7 years and 3 months (September 1984 – November 1991).

She served as Group Head, Corporate Services and Technology in Group Head, Corporate Services and Technology from November 1991 to June 1998.

Ade-John joined Access Bank Plc as Group Head, Support Services and Technology and worked there for 13 years 1 month (June 1998 – June 2001).

Continuing her journey in the banking sector, Lola Ade John served as the Head of Applications at United Bank for Africa. She worked in UBA for 4 years 8 months (June 2001 – January 2006).

A month after leaving UBA, she joined Ecobank Nigeria as Technology Integration Manager and worked there for 7 years 2 months (February 2006 – March 2013).

Lola Ade-John founded her company, Novateur Business Technology Consultants Ltd., in 2014.

Lola Ade-John’s skills
Business Technology Strategy and Process Re-Engineering
Business-to-Technology Process and Solutions Design
Business Continuity Planning, Management of Application and Infrastructure Integration
Policy Creation and Implementation
Negotiations of Contracts & Service Level Agreements (SLAs)
First-Level Business Technology Support.

Adebayo Adelabu Appointed As Minister Of Power

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August 17, 2023

President Bola Ahmed Tinubu has released the list of portfolios for his ministerial appointees, among whom is Adebayo Adelabu, appointed to head the Ministry of Power.

Adelabu was born to Aderibigbe Adelabu of Oke-Oluokun compound, Kudeti Area in Ibadan. His grandfather is Adegoke Adelabu.

Adelabu attended Ibadan Municipal Government primary school, Agodi Ibadan from 1976 to 1982 and Lagelu Grammar School, Ibadan from 1982 to 1987.

Adelabu received a first class degree in Accounting from Obafemi Awolowo University, Ile-Ife.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of Chartered Institute of Bankers of Nigeria and an Associate Member of the Institute of Directors of Nigeria and the United Kingdom.

Adelabu has also taken up professional courses in various business schools, including Harvard, Stanford, Wharton, Columbia, Kelloggs, Euromoney, and the University of London.

On 27th of July 2023, Adelabu was included in President Bola Ahmed Tinubu’s 28-man ministerial nomination.

He was made minister of power by president Bola Tinubu on 16 august, 2023

Olubunmi Tunji-Ojo Appointed Minister of Marine And Blue Economy

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August 17, 2023

Olubunmi Tunji-Ojo Has been appointed Minister of Marine And Blue Economy by President Bola Tinubu

Olubunmi Tunji-Ojo (born 1 May 1982) is a Nigerian politician, entrepreneur and philanthropist.

He is a member of the House of Representatives (Nigeria), representing Akoko North East/Akoko North West Federal Constituency of Ondo State.

During his first term in the 9th assembly, he was the Chairman of the House Committee on Niger Delta Development Commission (NDDC).

Olubunmi Tunji-Ojo is married to Abimbola Tunji-Ojo who also hails from Ondo State and they have two children.

Subsidy: Oyo Govt. Steps Up Palliative Distribution

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August 17, 2023

The Oyo State Government has stepped up its palliative distribution drive as the 15-man Committee on Sustainable Action for Economic Recovery (SAfER) set up by the Governor, has assured residents that it would start disbursement of palliatives soon.

The Chairman of the committee, the Chief of Staff to Governor Seyi Makinde, Segun Ogunwuyi, disclosed that the committee had divided itself into 5 sub-committees to fast-track the implementation of the palliatives, as directed by the governor.

Ogunwuyi said the state government was aware of the anticipation by citizens to benefit from the palliatives promised by governor Makinde to mitigate the impact of the removal of fuel subsidy.

The 5 sub-committees are: Transportation, headed by Gafar Bello; Food Palliatives, headed by Segun Olayiwola; Food Security, headed by Olasunkanmi Olaleye; Small and Micro-Enterprises, headed by Prof. Musibau Babatunde and Healthcare, headed by Prince Dotun Oyelade.

Governor Makinde had, in a state-wide broadcast, promised to put in place measures that would help to cushion the effect of the oil subsidy removal and the general hardship on the people of Oyo State and assist residents, particularly the down-trodden.

At a meeting with the enlarged committee members, the Chairman, said the palliatives would be rolled out the moment the governor ratified the final template for the implementation from members, disclosing that input would be extended to 10,000 farmers in various enterprises.

Ogunwuyi also noted that YEAP beneficiaries and small holder farmers who were known and had proved to be engaging in active farming would benefit from the N500million government loan, revealing that new routes had been mapped out by the transportation sub-committee for residents of the state.

He said routes mapped out by the transport sub-committee include: Mokola-Apata-Omi Adio; Oja oba-Idi Ayunre; Beere-Amuloko; Dugbe- Railway Station; Gate-Alakia-Adegbayi; Arola-Apete-Mokola; Challenge-Beere-Gate; Beere-Olomi-Olunde; Eleyele-Sango-Bodija; Kuola- Elebu-Challenge; Challenge- Apata-Omi.

The Committee Chairman noted that palliative transportation had been provided for commuters from New Garage-Beere-Gate; Iseyin; Oyo; Ogbomoso; Ibarapa and Saki.

He, therefore, urged each sub-committee not to leave any stone unturned in their quest for the most efficient way to get the palliatives across to those who really need them.

Ishak Salako Appointed Minister Of State, Environment And Ecological Management

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August 17, 2023