Politics
Breaking: House Committee On Financial Crimes Takes Firm Action Against Binance-Lawyers Over Cryptocurrency Probe (Full Details)
The House of Representatives Committee on Financial Crimes dismisses Udo Udoma and Belo-Osagie lawyers over misleading conduct related to a cryptocurrency exchange company facing legal scrutiny…..CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
Following a petition by Empowerment for Unemployed Youths Initiative and Niger-Delta Youth Council against Binance Holdings Limited, the Committee summoned Binance’s Managing Director, Richard Teng, for a hearing on December 18, 2023.
Lawyers from Udo Udoma and Belo-Osagie, appearing on behalf of Binance, faced criticism from the Committee for their presence, deemed unprofessional and disrespectful. The Committee walks them out and directs the company to appear on a rescheduled date.
Expressing disappointment, the National Assembly condemns the lawyers’ conduct, accusing them of siding with an illegal entity. The group emphasizes the need for Binance to explain its operations in Nigeria and warns against disrespecting the nation’s laws.
Empowerment for Unemployed Youth Initiative and Niger Delta Youth Council caution Richard Teng and Binance against acts that may lead to InterPol warrants and asset freezing. They stress the seriousness of crimes like money laundering and securities fraud.
The groups advise Nigerians to steer clear of Binance.com, citing violations of the Money Laundering Act, Securities and Exchange Commission regulations, and Federal Inland Revenue Service requirements in Nigeria.
All Progressives Congress (APC) chieftain Abdulmumini Jibrin has alleged that members of the Nigeria Democratic Congress (NDC) are intentionally orchestrating unrest and turmoil in Kano as the 2027 general elections approach. This accusation follows provocative incidents where symbols like the APC broom and caps bearing President Bola Tinubu’s signature were set ablaze, prompting retaliatory burning of Kwankwansiya caps linked to NDC vice-presidential candidate Rabiu Kwankwaso.....KINDLY READ THE FULL STORY HERE▶
During an interview on Channels Television’s Politics Today, Jibrin asserted that the opposition is resorting to these tactics because they recognize they are facing certain defeat in the state, particularly within the critical Kano South swing zone. He emphasized that the opposition’s actions were a deliberate strategy to trigger a crisis right before the start of the campaign, assuring the public that the ruling party will not allow those efforts to succeed.
The newly re-elected Governor of Osun State, Ademola Adeleke, recently embarked on a series of political consultations in Abuja, starting with a visit to the Minister of the Federal Capital Territory, Nyesom Wike. Lere Olayinka, the media aide to the FCT minister, shared a photograph on social media documenting the meeting, which featured Adeleke and Wike shaking hands while displaying the governor’s certificate of return.....KINDLY READ THE FULL STORY HERE▶
This engagement followed closely on the heels of a closed-door meeting between Governor Adeleke and President Bola Tinubu at the Aso Rock Presidential Villa, where the governor presented his official return documents and expressed appreciation regarding the recent electoral process. During their discussions, President Tinubu advised the governor to foster an environment of unity and refrain from marginalizing political opponents, emphasizing that winning an election represents a democratic mandate rather than a conquest.
President Bola Tinubu has firmly criticized former vice-presidential candidate Atiku Abubakar, dismissing his recent proposal to reinstate the petrol subsidy regime as a fundamental lack of understanding of economic management and governance.....KINDLY READ THE FULL STORY HERE▶
Upon taking office, the current administration discontinued the fuel subsidy and floated the national currency to address structural economic imbalances. While these sweeping policy changes triggered widespread financial pressures and heightened the cost of living for average citizens, the government maintains that the reforms were essential for long-term fiscal stability.
Addressing critics from the Presidential Villa, President Tinubu defended the decision by highlighting its immediate impact on sub-national finances. He pointed out that prior to the intervention, numerous state governments struggled to meet monthly obligations to workers and retirees. According to the administration, the savings generated from ending the subsidy have since enabled states to consistently service salary arrears and pension commitments, framing the policy shift as a vital corrective measure for the nation’s broader financial framework.
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