***Urges reactivation of Warri, Kaduna

By Francesca Hangeior

President Bola Tinubu has congratulated the Nigeria National Petroleum Company Limited on the successful revitalisation of the Port Harcourt Refinery.

Tinubu also urged the firm to expedite the scheduled reactivation of the second Port Harcourt refinery and the Warri and Kaduna refineries.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement made available to journalists.

The statement is titled ‘President Tinubu celebrates the revival of Port Harcourt refinery and directs NNPC Limited to promptly reactivate Warri and Kaduna refineries.’

Onanuga said, “The President acknowledges the pivotal role of former President Muhammadu Buhari in initiating the comprehensive rehabilitation of all our refineries and expresses gratitude to the African Export-Import Bank for its confidence in financing this critical project.

“Furthermore, President Tinubu commends the leadership of NNPC Limited’s Group Chief Executive Officer, Mr. Mele Kyari, whose unwavering dedication and commitment were instrumental in overcoming challenges to achieve this milestone.

“With the successful revival of the Port Harcourt refinery, President Tinubu urges NNPC Limited to expedite the scheduled reactivation of both the second Port Harcourt refinery and the Warri and Kaduna refineries.”

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.