General

10 Fundamental Rights of Crypto Users

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As the clamor for the regulation of Cryptocurrency gets louder, cryptocurrency giant, Binance, has listed 10 fundamental rights of a cryptocurrency trader. The CEO of Binance stated that these rights  will help create a fair regulation of cryptocurrency. 

The 10 fundamental rights of Cryptocurrency users by Changpeng Zhao, CEO of Binance .

  • Every human being should have access to financial tools, like crypto, that allow for greater economic independence.
  • Industry participants have a responsibility to work with regulators and policymakers to shape new standards for crypto assets. Smart regulation encourages innovation and helps keep users safe.
  • Responsible crypto platforms have an obligation to protect users from bad actors and implement Know Your Customer (KYC) processes to prevent financial crimes.
  • Privacy is a human right, and personally identifiable information (PII) data should be subject to strict levels of protection.
  • Crypto users have the right to access exchanges that keep their funds secure, in safe custody with comprehensive deposit insurance.
  • Healthy markets should maintain a robust level of liquidity to ensure a stable and frictionless trading environment.
  • Regulation and innovation are not mutually exclusive. Crypto users deserve safe access to emerging technologies and practices, including NFTs, stablecoins, staking, yield-farming, and more.
  • Closing the knowledge gap is essential when it comes to crypto. Users have the right to accurate information on crypto assets, without fear of falling victim to unfair or deceptive advertising
  • Marketplaces that offer derivative instruments should be subject to the appropriate regulations. This ensures all users meet eligibility requirements and that their transactions are fairly settled.
  • Crypto regulation is inevitable. Users have the right to share their voice on how the industry should evolve with their blockchain platform of choice.

Naira appreciates to around 540 naira to a dollar in the parallel market

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Reports reaching us indicate that the Naira has appreciated in the parallel market. As of today 11th November, 2021. The Naira is exchanging for around 540 to the Dollar or less. Before now the Naira has been exchanging for around 570 to the dollar.

The gain of the Naira has been  attributed  to the efforts of the Central Bank of Nigeria ( CBN). The CBN has injected dollars into the economy, dealt with illegal forex speculators, and introduced eNaira which makes it easier to buy dollars at a cheaper rate anywhere you are in the world. 

Analysts says the intervention by the CBN is short term. The overall value of the Nigerian export must increase for Naira gain to appreciate and stabilize

Nnamdi Kanu’s trial adjourned till 2023

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Justice Nyako, a Federal High Court Judge  in Abuja has  adjourned till January 19th, the trial of  Nnamdi Kanu. This happened yesterday November 10, 2021

The IPOB leader is standing trial because of treasonable felony and terrorism charges level against him by the Federal Government of Nigeria. 

Kanu was not happy that the security operatives did not allow some members of his legal team, especially his US lawyer, Bruce Fein to enter the courtroom and observe proceedings. Kanu’s lead counsel, Ifeanyi Ejiofor, staged a walkout in protest before the Judge arrived.

Justice Nyako expressed disapproval over the conduct of Kanu’s lawyer. The Judge  adjourned the case till January 19 and 20, 2022 for continuation of trial.

How to make Palm Kernel Seed Oil

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Palm Kernel seed oil

Palm kernel seed oil has a lot of health benefits particularly in babies and toddlers. It is said to prevent convulsions in babies. When applied to a baby’s head it also helps to close the gap in the baby’s skull.

Palm Kernel seed oil is oil that is extracted from palm kernel seeds. It should not be confused with palm oil. To get the palm kernel seeds, you will have to break the hard shell covering them.

Procedure

Note: The process generates a lot of smoke so do it in a well ventilated room or outside the house.

Put the palm kernel seeds into a stainless steel pot and place on the cooker with moderate heat applied. Continue stirring the seeds in the pot as they are being fried ( do not add water). 

Continue stirring until oil forms. When a substantial quantity of oil has formed you can drain  it through an iron net sieve.

When oil has been fully extracted from the palm kernel seeds, the seeds will appear burnt.

The whole process can take over 30 mins depending on the type of pot used, cooking heat applied and the amount of seeds being processed.