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March 1, 2024 Federal Government Confirms Investigations into Operations of Crypto Currency Platforms

Federal Government Confirms Investigations into Operations of Crypto Currency Platforms

The Office of the National Security Adviser; NSA,  has confirmed that the Federal Government is investigating the operations of Binance, and some other crypto currency exchange companies in Nigeria.

Financial Times had on Wednesday reported that two executives of Binance were arrested and detained by the Nigerian government. The executives were reported to have flown into the country last week following a ban on their website.

The Nigerian Communications Commission had on February 21, 2024, blocked online platforms like Binance and other crypto firms to avert the continuous manipulation of the forex market and illicit movement of funds.

The Head of Strategic Communication, Office of the National Security Adviser, Zakari Mijinyawa, said the office was coordinating the activities of other agencies to investigate the operations of the company.

He said, “The office is leading and coordinating an interagency process by law enforcement officers – this includes ongoing investigations into the operations of Binance.  Outcomes from this interagency investigation will be made available in due course. “

He,  however,  did not deny or confirm that the two executives were arrested

Binance is an online exchange where users can trade cryptocurrencies.

The  Central Bank of Nigeria Governor, Olayemi Cardoso, at a press briefing after the 293rd meeting of the Monetary Policy Committee in Abuja on Tuesday, disclosed that more than $26bn was channeled through  Binance without traces in the last one year.

He added that the CBN was moving to a very aggressive regulatory environment.

February 28, 2024 NLC Calls Suspends Nationwide Protests, Presents 17 Demands to Tinubu

NLC Calls Suspends Nationwide Protests, Presents 17 Demands to Tinubu

The Nigeria Labour Congress, NLC, has made a 17-point demand to President Bola Tinubu to mitigate what it described as poverty, hunger and mass suffering inflicted on the citizens by the policies of the federal government.

Recall the NLC held a nationwide protest yesterday in Nigerian states of Lagos, Adamawa, Osun, Ogun, Ondo, Kano, Niger , Akwa Ibom, Zamfara and among others, complaining of massive impoverishment in the nation.

Leaders of the NLC later suspended the protest late Tuesday evening after the first day, saying its suspension was based on the fact that the street action achieved overwhelming success.

In a communiqué at the end of its National Executive Council, NEC, meeting yesterday in Abuja, President of NLC and Acting General Secretary, Joe Ajaero and Ismail Bello, said: “The NEC-in-session, therefore, reviewed the execution of the first day of the nationwide protest to assess its effectiveness and take decision on further necessary action to guide congress in its effort at engaging government to protect the people and Nigerian workers from the increasing scourge of hardship.”

The NLC however issued a 17-point demand to the presidency saying if adequately implemented; the demands would assist the nation to overcome the present crisis of survival in the short-run.

“However, your Excellency, NLC believes that the following demands as proposed below, if immediately implemented will assist our nation overcome the present crisis of survival in the short-run.

‘’They are adoption of measures to mitigate the increasing hardship in the country via mechanisms that will allow for immediate food availability locally.

  1. We suggest a reopening of land borders to allow food, cement and other essentials to come in.
  2. Emergency measures to ensure food security around the country, including ensuring that farmlands are secured so that farmers can return to the land.
  3. We propose an immediate removal of the collection of levies, fees, dues and tolls from petty traders across the nation by local and state governments.
  4. Immediate implementation of the October 2, 2023, agreement reached with your government.
  5. An immediate purchase and deployment of CNG/ electric buses across all states of the federation to be managed by stakeholders.
  6. An immediate deployment of large numbers of CNG conversion kits to all states of the federation to grant the citizenry easier access to conversion of their vehicles from PMS to CNG.
  7. Composition of a team of relevant stakeholders to monitor and supervise all Federal Government’s intervention funds in the interest of Nigerian people.
  8. The same arrangement is advocated at all levels to ensure that government interventions reach the poor and the vulnerable.
  9. Reversal and suspension of further increases in school fees across the nation;
  10. A drastic reduction and removal of import duties paid on essential drugs and medical consumables to relieve the current hardship being witnessed by the sick.
  11. Direct all state governments to immediately pay all owed wages, wage awards, allowances, gratuities and pensions.
  12. Cash Transfers to the vulnerable with verifiable and inclusive social register to begin immediately.
  13. An immediate tax holiday to all workers earning from N100,000 per month and below including a reduction in PAYE for all workers earning below N500,000/Month.
  14. A removal of VAT on basic consumer items. Direct the purchase and use of Made in Nigeria goods and services to stimulate local production and save jobs.
  15. Immediate reduction in the cost of governance in Nigeria at all levels to reflect the nation’s tight fiscal position.
  16. Halt immediately the implementation of all IMF and World Bank policies in Nigeria. They have not only worked anywhere but have brought extreme hardship which imperils our nation’s security and undermines our sovereignty.
  17. Speedy conclusion of the National Minimum Wage negotiation, ensuring that it approximates a living wage.

Some of the foregoing proposals and recommendations are actually part of previously agreed Collective Bargaining Agreements, CBA, between organised labour and government at various times. “We believe that diligent implementation of these proposals; in consultation with social partners via the various processes of social dialogue will go a long way in recovering our economy from the precipice and repositioning Nigeria as a productive economy with capabilities for decent job creation, inclusive growth and the rule of law.

Mr. President, the current economic hardship facing our nation requires bold and decisive action. As the leader of our great country, we urge you to heed the cries of the Nigerian people and take immediate steps to alleviate their suffering.

“The resilience and ingenuity of our workforce are invaluable assets that, if harnessed effectively, can propel Nigeria towards a future of prosperity and progress.

“While we look forward to your consideration of our proposals, please accept the renewed assurances of our highest esteem.’’

But reacting to the protest yesterday, Special Adviser to President Bola Tinubu on Media and Publicity, Ajuri Ngelale, described it as needless.

Speaking in an interview , the president’s spokesman said the Federal Government is doing everything possible to ameliorate hardship in the land.

He said: “Any labour union that is speaking to the concerns of Nigerian families, the pains that are being felt by our people, is absolutely free to do so. It is right that Nigerians speak up in difficult situations.

“The government has been doing everything possible to alleviate those concerns. But we also want to separate the legitimate concerns being expressed by some of the labour unions from people trying to leverage some of the situations in the country to achieve a political agenda.

“We have seen the Trade Union Congress, TUC, pull out of the purported nationwide protest. We have seen the National Association of Nigerian Students, NANS, pull out of the protest. There is no unanimity behind what NLC is trying to do.

“I believe all legitimate concerns being raised by the unions are being tackled by the administration of President Bola Tinubu.”

 

February 28, 2024 Man Kills 57 Year-old Father For Ritual in Abia

Man Kills 57 Year-old Father For Ritual in Abia

Abia Police Command late Tuesday confirmed the killing of a 57-year-old, Mmaduka Ogbonna by his son, Chinalu Ogbonna, 27 years old at Amuzukwu in Umuahia North LGA.

The Police Public Relations Officer, ASP Maureen Chinaka disclosed this in a statement she issued late Tuesday.

Chinaka in the statement said, “Yes we got a report today at about 0800hrs at CPS Umuahia.

“It was a report of a murder case involving Mmaduka Ogbonna, a 57-year-old male, allegedly killed by his son, Chinalu Ogbonna, 27 years old at Amuzukwu in Umuahia North LGA.

“Detectives from CPS Umuahia visited the crime scene and found the deceased’s lifeless body with his left eye gouged out.

The suspect, Chinalu Ogbonna, a 27-year-old male residing with his father at Umu Eze Road opposite Junior Girls Secondary School Amuzukwu Ibeku, has been apprehended.

Investigations revealed that he strangled his father to death and intended to use his left eye for money rituals.

The corpse has been deposited at The morgue for autopsy, and exhibits have been recovered.

The case is currently under investigation and will be charged to court.”

Some members of the community  who spoke on condition of anonymity said Chinalu Ogbonna is known to be involved in taking drugs, regretting, however, “he was his father’s favourite and the father protected him so much.”

February 27, 2024 Customs Halts Sale of Foodstuff After Deaths from Stampede

Customs Halts Sale of Foodstuff After Deaths from Stampede

The Nigeria Customs Service, has announced the suspension of the sale of foodstuffs following a stampede that reportedly killed some people at their Old Zonal Headquarters in the Yaba area of Lagos last  Friday.

The Chief Superintendent of Customs and National Public Relations Officer for Comptroller General of Customs, Abdullahi Maiwada, disclosed the suspension of the exercise in a statement on Monday.

Nigeria Customs had said it was selling seized food items at N10,000 per 25kg to alleviate the people’s suffering as a result of the current high cost of living and other economic hardships.

On Friday, a pregnant woman and six others were said to have died in a stampede after some suspected hoodlums attempted to force their way into the Yaba Customs office compound.

The Nigeria Customs, in a statement on Monday evening, said the suspension became necessary considering “the recent unfortunate event.”

We regrettably announce the suspension of this exercise until we establish what transpired on Friday, February 23, 2024,” the NCS spokesman said.

He explained that: “The disposal of the food items got off to a smooth start at about 0800hrs. We enjoyed the cooperation of the large crowd that obliged us, giving preferences to the elderly, people living with disabilities, pregnant women, and other vulnerable Nigerians who showed up for the exercise.

This was the case up until about 1700hrs, as attested to by the over 5,000 beneficiaries and members of the press. However, unforeseen challenges arose when we ran out of stock and announced the continuation of the exercise the following day, leading to a regrettable outcome.

The crowd became desperate and charged through our barricades in search of rice bags inside emptied containers. In the stampede that ensued, some fatalities and injuries were regrettably recorded.”

The Customs extended its “heartfelt condolences to the families of those who lost their lives during the unfortunate incident.”

The service said it was working with health authorities to establish contact and engage directly with the victims’ families on their next steps.

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