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GEJ Tells GMB to Extend Probe to Obasanjo, Others

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President Goodluck Jonathan on Wednesday advised the President-elect, Muhammadu Buhari, not to single out his administration in any probe he may want to carry out after his inauguration on Friday.

The outgoing President who spoke at the valedictory session of the Federal Executive Council (FEC) at the Presidential Villa in Abuja, advised Buhari to extend his probe beyond his regime or else, the probe will be seen as a witch-hunt.

The other administrations include those of Gen. Abdulsalami Abubakar (1998-1999), former President Olusegun Obasanjo (1999-2007) and the late Umaru Musa Yar’Adua (2007-2010).

Jonathan said such probe should cover how oil wells and fields were allocated in the past.

Jonathan said “Some people are even calling for the probe of this government. I agree in Nigeria there are a number of things that we will probe, very many things. Even debts owed by states and this nation from 1960 up to this time, they say it is Jonathan’s administration that is owing all the debt.

“I believe that anybody calling for probe must ensure that these probes are extended beyond the Jonathan administration; otherwise, to me, it will be witch hunting. If you are very sincere, then it’s not just the Jonathan’s administration that should be probed.

“A number of things have gone wrong and we have done our best to fix them. The Attorney General is aware of massive judgment debts. If we aggregate all of them, it’s almost going to $1 billion. How did we come to this kind of huge judgment debts?

“These issues should be probed. How do you allocate our oil wells, oil fields, marginal wells and all that; do we follow our laws? All these should be probed. And I believe all these and many more areas should be looked at.”

According to him, the fuel scarcity and workers’ strikes are acts of sabotage by those bent on bringing down his administration, despite having few days to go.

Jonathan said: “Even this last fuel scarcity, to me, one can clearly say it was an act of sabotage. This government has few days to go. That is definitely not the time you expect massive strikes, using marketers and unions; unions asking for increase in salaries at a time oil price has dropped and volumes have dropped.

“None of the International Oil Companies (IOCs) is increasing salaries but our unions wanted 11 per cent increase in allowances and so on and so forth and went on strike.

“There was 21 days reserve in this country. It is not as if we had no products but they just refused to lift. Diesel was deregulated long ago, so the issue was not the product but people who felt they must bring this government to its knees even when they know that we had few days to leave. But we thank God we are getting over it and God will see us through.”

The President also stressed that his administration had done its best for Nigeria.

His words: “One thing that is clear, I enjoyed working with all of you. I’m very pleased with all of you. I want to thank all of you for your various contributions to the development of our country. I want to thank those that have been with us, the Advisers, Special Senior Assistants, the secretariat, other senior government functionaries, including the media that covered proceedings every Wednesday.”

“As a cabinet, we have tried our best. I believe we have done well under a very difficult situation. There are a lot of criticisms; people say different things at different times. Some of those who make some statements know they are purely political.

“I have always throw, the challenge that those who criticise us should compare what we have done in the various sectors to what others have done. I may not need to enumerate but if you look at the rail system and what we have done within this period, the oil sector where there has been so much attack, one good thing we did was the Nigerian content law that revolutionised the oil industry.”

He went on: “There were a lot of fabrication going on in Lagos and other places but it was never like this before. Nigerians are playing key roles in the oil sector. People sometimes forget this. Even with that, maybe we have offended some people but the Nigerian local content has really helped so many Nigerians to play big in the oil sector.”

“The agriculture, power sectors and maybe in foreign relations, like the Minister of Foreign Affairs mentioned, from 1960 to date, we have been members of the Security Council as non-permanent members five times; out of these five times, two times was with the five years of our administration.”

“We have been an independent nation for years and we have been in the United Nations Security Council as non-permanent members five times, two within this administration. That shows clearly that the rest of the world appreciates our little contributions to global issue.”

President Goodluck Jonathan on Wednesday advised the President-elect, Muhammadu Buhari, not to single out his administration in any probe he may want to carry out after his inauguration on Friday.

The outgoing President who spoke at the valedictory session of the Federal Executive Council (FEC) at the Presidential Villa in Abuja, advised Buhari to extend his probe beyond his regime or else, the probe will be seen as a witch-hunt.

The other administrations include those of Gen. Abdulsalami Abubakar (1998-1999), former President Olusegun Obasanjo (1999-2007) and the late Umaru Musa Yar’Adua (2007-2010).

Jonathan said such probe should cover how oil wells and fields were allocated in the past.

Jonathan said “Some people are even calling for the probe of this government. I agree in Nigeria there are a number of things that we will probe, very many things. Even debts owed by states and this nation from 1960 up to this time, they say it is Jonathan’s administration that is owing all the debt.

“I believe that anybody calling for probe must ensure that these probes are extended beyond the Jonathan administration; otherwise, to me, it will be witch hunting. If you are very sincere, then it’s not just the Jonathan’s administration that should be probed.

“A number of things have gone wrong and we have done our best to fix them. The Attorney General is aware of massive judgment debts. If we aggregate all of them, it’s almost going to $1 billion. How did we come to this kind of huge judgment debts?

“These issues should be probed. How do you allocate our oil wells, oil fields, marginal wells and all that; do we follow our laws? All these should be probed. And I believe all these and many more areas should be looked at.”

According to him, the fuel scarcity and workers’ strikes are acts of sabotage by those bent on bringing down his administration, despite having few days to go.

Jonathan said: “Even this last fuel scarcity, to me, one can clearly say it was an act of sabotage. This government has few days to go. That is definitely not the time you expect massive strikes, using marketers and unions; unions asking for increase in salaries at a time oil price has dropped and volumes have dropped.

“None of the International Oil Companies (IOCs) is increasing salaries but our unions wanted 11 per cent increase in allowances and so on and so forth and went on strike.

“There was 21 days reserve in this country. It is not as if we had no products but they just refused to lift. Diesel was deregulated long ago, so the issue was not the product but people who felt they must bring this government to its knees even when they know that we had few days to leave. But we thank God we are getting over it and God will see us through.”

The President also stressed that his administration had done its best for Nigeria.

His words: “One thing that is clear, I enjoyed working with all of you. I’m very pleased with all of you. I want to thank all of you for your various contributions to the development of our country. I want to thank those that have been with us, the Advisers, Special Senior Assistants, the secretariat, other senior government functionaries, including the media that covered proceedings every Wednesday.”

“As a cabinet, we have tried our best. I believe we have done well under a very difficult situation. There are a lot of criticisms; people say different things at different times. Some of those who make some statements know they are purely political.

“I have always throw, the challenge that those who criticise us should compare what we have done in the various sectors to what others have done. I may not need to enumerate but if you look at the rail system and what we have done within this period, the oil sector where there has been so much attack, one good thing we did was the Nigerian content law that revolutionised the oil industry.”

He went on: “There were a lot of fabrication going on in Lagos and other places but it was never like this before. Nigerians are playing key roles in the oil sector. People sometimes forget this. Even with that, maybe we have offended some people but the Nigerian local content has really helped so many Nigerians to play big in the oil sector.”

“The agriculture, power sectors and maybe in foreign relations, like the Minister of Foreign Affairs mentioned, from 1960 to date, we have been members of the Security Council as non-permanent members five times; out of these five times, two times was with the five years of our administration.”

“We have been an independent nation for years and we have been in the United Nations Security Council as non-permanent members five times, two within this administration. That shows clearly that the rest of the world appreciates our little contributions to global issue.”


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Stellantis and Zeta Energy Announce Joint Development of Lithium-Sulfur Batteries

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Stellantis N.V. and Zeta Energy Corp. announced a joint development agreement aimed at advancing battery cell technology for electric vehicle applications.

The partnership aims to develop lithium-sulfur EV batteries with game-changing gravimetric energy density while achieving a volumetric energy density comparable to today’s lithium-ion technology.

For customers, this means potentially a significantly lighter battery pack with the same usable energy as contemporary lithium-ion batteries, enabling greater range, improved handling and enhanced performance.

Additionally, the technology has the potential to improve fast-charging speed by up to 50%, making EV ownership even more convenient.

Lithium-sulfur batteries are expected to cost less than half the price per kWh of current lithium-ion batteries.

“Our collaboration with Zeta Energy is another step in helping advance our electrification strategy as we work to deliver clean, safe and affordable vehicles,” said Ned Curic, Stellantis Chief Engineering and Technology Officer.

“Groundbreaking battery technologies like lithium-sulfur can support Stellantis’ commitment to carbon neutrality by 2038 while ensuring our customers enjoy optimal range, performance and affordability.”

“We are very excited to be working with Stellantis on this project,” said Tom Pilette, CEO of Zeta Energy.

“The combination of Zeta Energy’s lithium-sulfur battery technology with Stellantis’ unrivaled expertise in innovation, global manufacturing and distribution can dramatically improve the performance and cost profile of electric vehicles while increasing the supply chain resiliency for batteries and EVs.”

The batteries will be produced using waste materials and methane, with significantly lower CO2 emissions than any existing battery technology.

Zeta Energy battery technology is intended to be manufacturable within existing gigafactory technology and would leverage a short, entirely domestic supply chain in Europe or North America.

The collaboration includes both pre-production development and planning for future production. Upon completion of the project, the batteries are targeted to power Stellantis electric vehicles by 2030.

Lithium-sulfur battery technology delivers higher performance at a lower cost compared to traditional lithium-ion batteries. Sulfur, being widely available and cost-effective, reduces both production expenses and supply-chain risk.

Zeta Energy’s lithium-sulfur batteries utilize waste materials, methane and unrefined sulfur, a byproduct from various industries, and do not require cobalt, graphite, manganese or nickel.

Developing high-performing and affordable EVs is a key pillar of Stellantis’ Dare Forward 2030 strategic plan, which includes offering more than 75 battery electric vehicle models.

Stellantis is employing a dual-chemistry approach to serve all customers and exploring innovative battery cell and pack technologies.


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Binance and Circle Join Forces to Boost USDC Utility Worldwide

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Crypto industry giants Circle Internet Group Inc. and Binance have joined forces in a new strategic partnership announced today at Abu Dhabi Finance Week that will expand adoption of USDC and support the development of the global digital assets and broader financial services ecosystem.

With the growth and worldwide adoption of USDC as one of the most powerful utilities for money on the internet, this collaboration brings together a trusted and compliant digital dollar with the largest platform in the world for using digital assets.

Through the partnership, Binance will make USDC more extensively available across their full suite of products and services, ensuring that their more than 240 million global users are able to seamlessly access and use USDC for trading, saving, and payments applications.

Additionally, Binance will adopt USDC as a vital dollar stablecoin for their own corporate treasury, a powerful signal about the world moving on-chain.

Likewise, Circle will provide Binance with the necessary technology, liquidity and other tools for Binance users to benefit from the trust and innovation that Circle has built for USDC.

Circle will also work with Binance to build key relationships across the global finance and commerce landscape, as mainstream companies all around the world seek to benefit from crypto infrastructure and stablecoins for an increasingly wide array of use-cases.

“Binance is an incredibly innovative company and has demonstrated a relentless commitment to product quality, innovation, and user-centricity, all of which show in their massive and loyal global community of more than 240 million users,” said Jeremy Allaire, Chairman and CEO of Circle.

“With Binance rapidly becoming the world’s leading financial super app, and stablecoin adoption and utility at the core of this future financial system, this is a tremendous opportunity for USDC as it becomes ubiquitous on the Binance platform.

“I’m thrilled to be working with the Binance leadership team as they continue to build the largest digital asset company in the world.”

“Circle is without a doubt one of the most trusted and innovative companies in the digital asset ecosystem, and USDC is one of the most preeminent products in the world,” said Richard Teng, CEO of Binance.

“Through our strategic partnership, our users will have even more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance.

“We will also work closely with Circle to drive innovation and utility for stablecoins globally.

“Working together as a team, we believe we can materially push forward the possibilities for the internet financial system.”


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Polaris Bank Wins Sectoral Award at the 2024 NEC A Employers’ Excellence Awards

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Polaris Bank has achieved yet another milestone by emerging as the Sectoral Winner in the Banking and Other Financial Institutions Sector category at the 2024 NECA Annual Employers’ Excellence Awards.

Polaris Bank

Polaris Bank

The Bank received the sectoral recognition for its innovative HR practice at the NECA’s Excellence Awards, (the 4th edition) which held recently at the Balmoral Convention Centre, Ikeja.

The recognition is particularly significant as it marks the first award the Bank has received for its efforts in Human Resources Management, reaffirming Polaris Bank’s commitment to creating a people-oriented workplace culture.

The NECA Annual Employers’ Excellence Awards celebrate organizations that excel in key areas such as leadership and people management practices, sound human resource systems, effective corporate governance, responsible business conduct, technological innovation, Environmental, Social, and Governance (ESG) practices, and the elimination of child labour.

Speaking on the award, Polaris Bank’s Managing Director/CEO, Kayode Lawal, stated: ” Winning this prestigious award accentuates our deliberate approach to promoting an environment where employees can thrive, innovate, and contribute meaningfully to the Bank’s success.

“It also highlights Polaris Bank’s leadership commitment to evolving into an employer of choice and a great place to work. Congratulations to the entire Polaris Bank family for this outstanding achievement on a sectoral scale! This win is a testament to the hard work, dedication, and innovative spirit of every member of our team. It could not have been any BIGGER! ”

Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2024, 2023, 2022 and 2021 in Business Day’s Banks and Other Financial Institutions (BAFI) Awards.


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