By Francesca Hangeior

The Police Command in Akwa Ibom has confirmed the abduction of Mr Samuel Ekerenam, the owner of Hephzibah Shopping Mall at Afaha Uqua Obok-Idim road in Eket Local Government Area of the state.

ASP Timfon John, the State Police Public Relations Officer disclosed this in an interview with the Newsmen in Eket on Tuesday.

John said the incident happened on Saturday at about 10:55p.m in the night at his Hephzibah Shopping Mall in Eket.

She said the gunmen abducted the victim after killing his personal driver and demoralised his police escort before taking him away.

“The Commissioner of Police, Mr Joseph Eribo and his tactical commanders have visited the scene of the crime and efforts are in top gear to rescue the victim unhurt,” John said.

It could be recalled that the victim’s wife, Mrs Glory Ekerenam was kidnapped in Eket on Oct. 17, 2019 and kept at the kidnapper’s den at Ikot Ubo in Nsit Ubium Local Government Area of the state.

A family source who did not want his name mentioned said the victim came back from work that same day he was abducted.
He said that the police officer was in a critical state in an unknown hospital in the state.

By Francesca Hangeior

Britain’s financial watchdog, on Tuesday, launched plans for full regulation of cryptocurrency from 2026.

This move is coming amid booming demand for highly volatile bitcoin.

The world’s biggest cryptocurrency has surged in value since Donald Trump won the US presidential election in early November.

However, bitcoin has also experienced huge losses in recent years.

Trump has pledged to make the United States the cryptocurrency capital of the world through supportive regulations, pushing bitcoin towards the symbolic record $100,000 mark.

Britain’s Financial Conduct Authority on Tuesday announced a roadmap featuring consultations on cryptocurrency regulation ahead of “final rules” by the watchdog in 2026.

The FCA also plans by early next year rules on “stablecoins”, which are backed by a traditional currency, most often the dollar.

Crypto ownership has grown to 12 percent of adults in the UK, according to data from the regulator published Tuesday.

“Currently, cryptocurrency remains largely unregulated in the UK and high-risk,” the FCA said.

“Our research results highlight the need for clear regulation that supports a safe, competitive and sustainable cryptocurrency sector in the UK,” said Matthew Long, director of payments and digital assets at the watchdog.

The FCA last year tightened rules over the promotion and selling of cryptocurrency. This include measures to ensure companies promoting these digital assets give “clear warning” that customers could lose money in “high risk” investments.

News of the FCA roadmap came as a cross-party parliamentary group on Tuesday slammed the watchdog for its activity over the past three years, claiming it is “not fit for purpose”.

MPs and peers in a report urged an overhaul after concluding the regulator “is seen as incompetent at best, dishonest at worst”.

They added: “Its actions are slow and inadequate, its leaders opaque and unaccountable.”

It follows a series of recent scandals that have marred the financial sector in Britain.

“We sympathise with those who have lost out as a result of wrongdoing in financial services,” the FCA said in response.
“However, we strongly reject the characterisation of the organisation,” it added in a statement.

By Francesca Hangeior

The Kano State Law Reform Commission has earmarked not less than N100m for the reforms of various laws of the state in 2025.

The commission’s Chairman, Justice Lawal Muhammadu, disclosed this shortly after he defended the commission’s 2025 budget before the Committee on Judiciary at the state House of Assembly.

According to him, many laws in the state need reforms, a project that started earlier in the year but was unfortunately damaged and burnt during the August protest in the state.

He said the entire work is starting all over again, with a total budget of N100 million to reform all the laws in the coming year.

“There are many laws that are old; some were made since before Nigeria’s independence and are as old as since 1837 and based on England law. Some of them are not even used in the country, but we still have them here.

“Those are some of the reviews we want to do. The ones that are not useful will be withdrawn, and the ones that need reform will be reformed,” he noted.

Others who defended their budgets are the Kano State Radio Corporation, the state Ministry of Information, Kano Pillars Club, Abubakar Rimi Television, the Triumph newspaper, the Kano Printing Press, Kano Film and Censorship Board, among others.

They reinstated their commitment to utilising the resources committed in their budget to improve outputs.