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…as Gambaryan seeks compensation for prolonged detention in Nigeria
US lamakers have continued their push for the release of Tigran Gambaryan, the Binance executive currently detained at the the Kuje detention facility, and facing trial on charges money laundering charges to the tune of $35 million.
Two members of United States Congress, French Hill and Chrissy Houlahan visited the binance executive in detention and expressed some concerns over his condition and called for his immidiate release.
The Congress members alleged that executive was suffering from malaria and double pneumonia, and has been denied medical attention. They also alleged that Tigran was in wrongful detention on money laundering charges.
Hill, announcing this on his X account. noted that Nigeria had dropped tax evasion charges against Gambaryan but urged the US Secretary General and others in authority to secure his release.
“Yesterday (Wednesday) @RepHoulahan and I visited with US citizen Tigran Gambaryan in Kuje Prison in Nigeria. We found him suffering from the conditions there, as he has malaria and double pneumonia, and he reports that he has lost significant weight. Even worse, he’s being denied access to adequate medical attention.
“Although I am pleased that Nigeria dropped tax evasion charges against Tigran on 6/14, it’s my view that he’s being wrongfully detained on charges related to money laundering.
The lawmaker argued that, “Tigran has devoted his professional life to fighting money laundering and tax evasion, having spent ten years as an IRS Special Agent where he successfully led cyber and financial crime investigations.”
He further said that at the time of Gambaryan’s arrest, he was working as a contract employee at Binance and was instrumental in criminal investigations and compliance in cooperation with Nigerian authorities.
The lawmaker recalled that on June 4, he joined a letter with other Congress members, urging for Tigran’s immediate release.
He announced that two days later, over 100 former federal prosecutors and agents wrote to Secretary Blinken further urging State Department to use all means available to secure his release.
“Tigran must be immediately granted a humanitarian release, the remaining charges dropped, and he must return home to America where he belongs”, he wrote.
It would be recalled that some US Lawmakers had requested President Joe Biden expedite the release of Gambarya.
The 12 lawmakers addressed Biden, Secretary Antony Blinken, and Presidential Envoy for Hostage Affairs, Roger Carstens, emphasising the need for urgent intervention.
Meanwhile, Gambaryan, has ammended his fundamental human rights motion, he is requesting that the Federal High Court in Abuja mandate the Office of the National Security Adviser (NSA) and the Economic and Financial Crimes Commis
Gambaryan, had in May filed a suit alleging that his detention violated his fundamental human rights. He claims that the ONSA and EFCC’s actions have infringed upon his rights by prolonging his detention and seizing his international travel passport.
He urged the court to declare his detention and passport seizure as violations of his fundamental rights and to restrain the authorities from detaining him further in connection with any investigations into Binance.
Tonye Krukrubo, his lawyer has sought the court’s permission to amend the initial suit. In the amended proposal, Krukrubo is seeking the costs of the action on a full indemnity basis in addition to the initial claims.
The Court will hear the ammnded motion July 9, 2024, Meanwhile, his colleague, the Court has struck out the fundamental rights suit filed by Nadeem Anjarwalla the Binance Executive who is currently at large.
[Businessday]
Jeremy Allaire, the CEO of USDC Circle, one of the leading stablecoin assets in the cryptocurrency industry has expressed strong optimistic views on the potential of stablecoins saying the assets will account for 10% of global economy in the next ten years.
Jeremy shared his opinion on X explaining his views on the cryptocurrency market and the growing adoption of stablecoins in the global financial space.
Jeremy predicted that with the rate of global adoption of stablecoins. They will account for 10% of the global economy in the next ten years.
“ What does it look like when 10% of global economic money is stablecoins, and when credit intermediation moves from fractional reserve lending to onchain credit markets built from the ground up on safer, digital cash instruments (e.g. stables), and opens up credit and debt to the long tail of supply and demand in the same way that Amazon did for commerce and AdWords did for advertising? All of this is achievable over the next 10+ years.” Jeremy tweeted.
Jeremy explained that stablecoins were experiencing a serious wave of adoption and integration into the global financial ecosystem and that was a major bullish trend for cryptocurrency and its assets in general.
He also highlighted the serious gains made by blockchain technology over the years and the growing use of stablecoins in several services and financial transactions. The growing demand for stablecoins as financial assets spells a positive future for cryptocurrency in the global financial ecosystem in the coming days.
“I’m more bullish than I have ever been about crypto. I have been building @Circle for over 11 years, and at no time have I been more optimistic than right now. I also believe that the overwhelming majority of people have an extremely narrow and limited understanding of what’s unfolding. And that’s super bullish, too.” Jeremy tweeted.
Jeremy also explained the evolution of the internet over the years highlighting the influx of open networks, protocols, and software that have helped transform industries and people’s lives. He stated that crypto was a groundbreaking addition to the internet space and it is on the verge of transforming society and the economy.
Before the introduction of crypto, the internet was limited by trust issues and a lack of alternatives to ensure trusted data and transactions. Crypto offers a solution to this problem through a decentralized and trustworthy framework.
“Internet infrastructure had enabled frictionless, nearly free movement of data and seamless ability to connect and deploy software and hardware on a global network, and it was clearly struggling with its own success and weight. The internet lacked a layer for trust, and without that, it was capped in terms of the utility it could provide to the world.” Jeremy added.
For the future, Jeremy predicted that by the end of 2025, Stablecoins will be legal electric money available almost everywhere establishing the assets as an integral part of the global economy.
“By the end of 2025, stablecoins will be “legal electronic money” almost everywhere, which sets them up to become a larger and larger portion of the $100T+ market for electronic money,” Jeremy added.
What To Know
- Stablecoins are a type of cryptocurrency whose value is tied to another asset class to keep a stable, steady value. The most popular kind of stablecoins is fiat-backed stablecoins, which are tied to currencies such as the U.S. dollar.
- There are three popular fiat-backed stablecoins and they are USDT (Tether), USDC (Circle), and PayPal USD (PYUSD). Among stablecoin providers, Tether (USDT) has captured a significant market share, exceeding $100 billion and accounting for over 70% dominance in the stablecoin market.
[Nairametrics]
The Rivers State Caucus in the House of Representatives has disowned one of its members, Hon. Dumnamene Deekor, saying he was neither their leader nor spokesman and as such he was never instructed to speak on behalf of the caucus.
In a statement signed by the Leader of the Rivers State Caucus in the House, Hon. Awaji-Inombek D. Abiante, the lawmakers dismissed a statement credited to Deekor calling for sanction against the coordinator of the G-60 Federal Lawmakers in the House, Hon. Ikenga Ugochinyere, over the latter’s comments on the political crisis in Rivers State.
Abiante said the leadership of the Rivers Caucus in the House has always been based on seniority, adding that a second term lawmaker cannot therefore lead the caucus when there are more senior lawmakers in the House.
He explained that as a lawnaker, Deekor is aware of the fact that every member of the House has the right to comment on any issue affecting any part of the country as they have sworn to defend the integrity of Nigeria.
The statement read: “The Rivers State Caucus in the House of Representatives read with dismay a statement purportedly issued by the member representing Khana/Gokana Federal Constituency, Hon. Dumnamene Deekor calling for the discipline of the Coordinator of the G-60 Lawmakers in the Green Chamber, Hon. Ugochinyere Ikenga over his position on vexed issues in the polity.
“While we wouldn’t stand against the popular phrase: ‘everybody is entitled to his opinion’, we refused to collectively accede to Dum Deekor’s self serving stands as he has never been elected by the Rivers State Caucus to speak on our behalf.
“It is a trite knowledge and backed by precedence that the Leadership of the Rivers State Caucus in the House of Representatives and the National Assembly are based on seniority. Hon Dum Deekor being a second term lawmaker cannot arrogate to himself the position of Caucus Leader in the midst of 3rd and 4th term lawmakers.
“For the records, Deekor was properly elected in 2019 haven lost his seat in 2015 at the Court of Appeal which barred him from being a member of the 8th Assembly. He was recently reelected in 2023 to serve his second term in the House. This alone disqualifies him to jostle for the leadership of the Rivers State Caucus.
“We call on the general public to discountance Dum Deekor’s statement as vituperations of a gord being.
“The National Assembly is not guided by Village Council’s rules and as such everyone reserves the right to make contributions inline with his innate conviction. Hon Ugochinyere has in the estimation of right thinking Nigerians proven himself in the act of quality representation.
“Dum Dekor should realize that a member of the National Assembly is not only representing his immediate constituency, but also the entire Nigeria as he is entitled to make comments or speak on issues that threatens the peace of any part of the country for which we all took oath to preserve and protect .
“Dum that claims to be an experience legislator should have known this fact and allow Ugochinyere to speak on matters that affect any part of the country as a bonafide member of National Assembly.”
[Leadership]
American superstar Beyoncé has said she is no longer motivated by charts and commercial success.
The 42-year-old singer said “growth” has changed her perspective on musical success.
The pop star, who recently went out of her way by releasing a country music album ‘Cowboy Carter,’ said she was grateful for the “extraordinary success” of the new album, adding that it changed her life.
“There was a time in my life when charts and sales excited and motivated me,” Beyoncé told The Hollywood Reporter.
“Once you have challenged yourself and poured every ounce of your life, your pain, your growth and your dreams into your art, it’s impossible to go backward.
“I’m very grateful and humbled for the extraordinary success of the new album.”
[DailyPost]
On Thursday, the Nigerian Immigration Service (NIS) alerted the public to counterfeit and invalid employment letters circulating, falsely attributed to the service.
The NIS made this known in a statement by its Public Relations Officer (SPRO), Mr Kenneth Udo, in Abuja.
Udo warned desperate job seekers to exercise caution so as not to fall victim to the fraudsters.
According to him, the fraudulent letters falsely claim that the recipients have been offered employment with the NIS.
He said “the Service categorically denies any involvement in this fraudulent scheme and refutes the misinformation being spread on social media platforms regarding an ongoing recruitment/replacement exercise.
“The NIS shall continue to ensure that any unscrupulous elements engaging in this criminality will be made to face the wrath of the law.
“The public is hereby advised to report these scammers to the nearest NIS office or law enforcement agencies.
“The Nigeria Immigration Service recruitment exercise is exclusively advertised through reputable national dailies, television broadcasts, and our official website, http://www.immigration.gov.ng.
Udo said that the Service was resolutely committed to safeguarding the interest of Nigerians and upholding the integrity of its recruitment processes.
Nigerian singer, Eedris Abdulkareem has slammed Nigerians attacking him for his latest song, Emi Lokan.
The song took a jibe at President Bola Tinubu for making wrong moves that has brought hardship on Nigerians.
He slammed people attacking his song instead of condemning the governnment for bringing suffering on Nigerians.
He labeled them happy slaves benefitting from the government.
Eedris criticized the government of Tinubu for removing the fuel subsidy. He said a lot of companies left Nigeria due to removal of fuel subsidy.
He also slammed Tinubu for heaping taxes on Nigerians with unnecessary bank charges. He further lamented that the inflation has made it hard for the poor man to buy food.
Eedris also lamented that inability of the government to handle the forex market has led to hunger in the country. He further noted that banditry and insecurity has made it difficult for Nigerians to afford a good living.
Watch video below:
Media
Dangote Refinery has surpassed Nigeria in power generaton.
While Nigeria added barely 760 megawatts of power to the national grid in eleven years, the Dangote refinery doubled that amount and produced 1,500 megawatts in a shorter amount of time.
Nigeria has the capacity to generate 13,000 MW of power.
UGC Data obtained from the Nigeria Electricity System Operator demonstrated that, as of June 12, 2024, the average generation of 4,160 MW had increased by 22% from an average of 3,400 MW in November 2013 to the Distribution Companies (Discos) delivery to the Generation Companies (Gencos) via the Transmission Company of Nigeria (TCN).
But following construction in 2018, Dangote's oil refinery generated 1,500 MW of power—more than the entire country's grid expansion accomplished in more than ten years.
Aliko Dangote said this at the Afreximbank Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas, “We don’t put pressure on the grid. We produce about 1,500 megawatts of power for self-consumption.”
Situation calls for worry BusinessDay reported that this scenario has sparked worries about Nigeria's electricity sector's sluggish growth, even in the face of billion-dollar investments and an 11-year-old privatisation process. Charles Akinbobola, a senior energy analyst at Sofidam Capital, said, “The government and some operators in the sector may say there has been some form of growth since 2013, but in actual terms, how many people are benefiting from the privatised power sector? most conglomerates are generating their power.
“The challenge of the power sector has not entirely been the scarcity of funds, several trillions of naira have been pumped into that industry. The sector has been plagued by the shortcomings of its managers.” Nigeria needs to do more Nigeria has the capacity to generate 13,000 MW of power, while South Africa, with a comparable economy and 25% of the world's population, can produce about 58,095 MW. Yet, Nigeria's aging power infrastructure only supplies approximately 4,000 megawatts of electricity to its 200 million inhabitants, or about the same amount as Edinburgh, home to 548,000 people, does.
Despite Nigeria's transmission capacity increasing by 20% to an average of 4,200mw since 2013, BusinessDay analysis reveals that the country's population has expanded by 57% during the same period, from 131 million to 206 million, based on the most recent World Bank figures. Nigeria appears to be traveling at a snail's pace, but other African nations are advancing quickly.
For example, between December 2015 and December 2018, Egypt, a country of 114 million people, added 28,229 million MW to its national system, bringing its total installed capacity to 58,818 MW. This was accomplished, according to the International Trade Administration of the US Department of Commerce, through a fast-track initiative that installed 3,636 MW of power in 8.5 months at a cost of $2.7 billion.
In March 2015, Egypt signed a second contract with Siemens for the construction of three mega combined power cycle stations, adding 14,400mw in 2.5 years. Data from Ghana's energy agency show that between 2000 and 2020, the country's capacity to generate electricity expanded at an annual rate of 6.4%, from 1,358 MW to 4,695 MW.
FG gives orders to reduce electricity supply The Nigerian Electricity Regulatory Commission (NERC) is set to enhance power supply to domestic consumers following its orders directing the System Operator (SO) to cap supplies to international customers by 6 per cent of domestic supplies. The affected countries include Togo, Benin Republic and the Niger Republic. The development comes amid a high level of indebtedness and non-remittance of electricity bills supplied to the countries over the years.
Nigerian singer Habeeb Okikiola Badmus popularly known as Portable has vehemently criticized media personality Isaac Fayose, alleging hypocrisy and insincere displays of love.
The “Zazoo” coroner took to his Instagram DMs to lambast Fayose in a tirade laced with heavy Yoruba expressions.
The conflict began when Fayose criticized Portable in a public comment section, prompting an outraged response from the singer.
Portable accused Fayose of privately expressing admiration for him in direct messages while publicly speaking ill of him.
“Why are you talking bad about me, now you’re telling me in my DM you love me. Love yourself, no use your love spoil love for me,” Portable said partly in the video.
The singer went on to mock Fayose, asserting that he is not as famous as he believes and dismissing him as not being on the same celebrity level.
This incident has stirred reactions from fans and followers with many expressing their opinions.
Nigerian singer, Anthony Ebuka Victor, popularly known as Victony says rapper Olamide, inspired him to make his forthcoming project ‘Stubborn’ an album.
The singer spoke about his encounter with Olamide at a listening party for the project scheduled for a June 28 release.
The ‘Soweto’ hitmaker revealed that the YBNL label chief executive encouraged him to make ‘Stubborn’ an album.
Victony said the rapper, fondly called Baddo, told him he needed to put out an album “when the fans are yearning for it”.
He added that Olamide’s backing prompted his decision to make ‘Stubborn’ an album instead of an extended play as announced. Victony who recently revealed qualities of his ideal woman said:
“Stubborn was supposed to be an EP. I felt like I was not album-ready.”
“Before the release of the single ‘Stubborn’, I went to Baddo’s house to seek advice like my big brother.
“The meeting had a different outcome. I went there with my guys, just discussing with Baddo. He told me, ‘Look, you do not want to put out a body of work when your fans are no longer yearning for it.’
“That hit me because I feel like I am a project artiste and that is how people understand me best. I thought about it and I am like, ‘Why not? What is holding me back?’ And then I tweeted a picture with Baddo.
“That very day was the day we decided to make this an album. I had announced Stubborn as my next project but as an EP.”
Born Anthony Victor, Victony rose to fame a few years ago after collaborating with Mayorkun for ‘Holy Father’.
He is signed to Mainland Block Party, a record label owned by the Nigerian music executive Tobi Mohammed.
In May, Victony released ‘Stubborn’ a track off the forthcoming debut album.
Victony’s 14-track album features Asake, Shallipopi, Shorae Moore, Saint Jhn, and Teezo Touchdown.
“God never helped me to be successful in life, I helped myself” – Danny Walter denies God's role in his success
AFOLABI
Popular Twitter influencer Danny Walter has ignited a heated debate on social media by declaring that his success in life is not attributable to God.
In a viral video, Walter, who has a reputation for criticizing religious figures on Twitter, openly stated his disbelief in the existence of God and dismissed the notion that the Almighty played a role in his achievements.
“I hustled my way to the top,” Walter said in the viral video.
He went on to challenge the idea of divine help, suggesting that if God indeed helps people, He should redirect His focus to aiding the poor and those in need of favors.
Walter’s comments have stirred significant controversy, drawing mixed reactions from the public.
Reacting to the backlash that trailed his statement, Danny posted:
“Can’t believe you guys are mad at me for saying God should not help me but help poor people. Don’t you want God to help poor people abi what’s the problem??!”
See below;
Media
This Danny no rate God at all oh???? pic.twitter.com/sWnkLE4fmM
— ?????? ? (@joejoeboy0) June 20, 2024
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Popular American reality star and model Kim Kardashian has opened up about her future plans and how many years she believes she has left to look beautiful.
The fashion mogul, known for her significant influence in the entertainment and fashion industries, disclosed that she believes she has only ten more years to maintain her current looks.
During a discussion about her long-term goals, Kim said;
“I’ve got about 10 years where I still look good, so that’s all I’ve got in me.”
Kim went on to outline her aspirations beyond the next decade. She mentioned a desire to transition into acting, planning to take on a movie role each year.
Following this period, she envisions stepping away from the limelight to take some personal time.
“I can do a movie a year. I’ve got about 10 years where I still look good, so that’s all I’ve got in me, and then I’ll take some time off,” Kim said.
In other news, American reality star and businesswoman Kim Kardashian opens up about her decision to divorce her Rapper ex-husband, Kanye West.
Kim Kardashian sheds light on the personal struggles she faced due to Kanye’s personality.
She revealed the complexities and challenges that ultimately led to the end of their marriage.
She stated that Kanye West was the best rapper of all time and the richest black man, but lacks character, adding that she divorced him because of his personality.
Speaking in a recent episode of the Big Boss show, Kim said:
“I married the best rapper of all time. Not only that, he is the richest black man in America, a talented legit genius…
Veteran Actor Kanayo O. Kanayo blows hot, calls out Teen actress Angel Unigwe and her mum – VIDEO
AFOLABI
In a surprising and fiery outburst, Nollywood legend Kanayo O Kanayo ignited social media with a sensational video where he openly criticized Juliet Ifechi Unigwe, the mother and manager of his younger colleague, Angel Unigwe.
The veteran actor began by accusing Mrs. Unigwe of holding numerous movie producers to ransom, revealed that he had heard about her numerous misdeeds from other filmmakers she had allegedly ghosted as well.
Kanayo alleged that Mrs. Unigwe extorts money from these filmmakers and fails to honor her commitments. He revealed that he is the latest victim to fall prey to her unscrupulous tactics.
Detailing his grievance, Kanayo recounted a recent incident on his set. The movie legend said he had arranged for Angel Unigwe to work throughout the day, only for Mrs. Unigwe to storm onto the set at 9 PM, forcibly removing her daughter despite the agreed-upon time not having lapsed.
Kanayo viewed this abrupt action as a blatant breach of contract and a disruptive affront to the professionalism expected in Nollywood.
The actor didn’t stop there. He issued a stern warning to his colleagues, emphatically stating that any movie producer who hires Angel Unigwe without her completing her obligations on his project would incur his wrath.
He threatened to personally disrupt their productions until the proper procedures were followed.
Kanayo passionately stated that his drastic actions were aimed at addressing the widespread unprofessionalism that has crept into the modern Nollywood scene.
Award winning Nigerian R&B singer, Temilade Openiyi, popularly known as Tems has recently opened up about what it’s like to be in a romantic relationship with her.
In a recent conversation with actress Chinasa Anukam on the ‘Is This Seat Taken’ podcast, Tems likened dating her to discovering a one-of-a-kind flower.
According to the Grammy-winning singer, her personality may not immediately captivate you, but it holds beauty within.
She did, however, warned that there may be some unexpected hurdles along the way.
“Dating me is like stumbling upon a rare species of flower that looks black from the outside and when you open it, it has pink, purple but in the middle, there’s a stone,” Tems said.
Gunmen have kidnapped a pregnant woman, simply identified as Mrs. Ogunbunmi, in Abeokuta, Ogun state capital.
Mrs. Ogunbunmi, who is due for delivery, was said to have left her home in Oke Lantoro, to the state Hospital, Ijaiye, Abeokuta.
It was gathered that her husband, Ogunbunmi Lateef, said he had received a WhatsApp message notifying him of his wife’s kidnap by the abductors.
Confirming the incident, yesterday in a terse statement, the Police Public Relations Officer, Omolola Odutola said the suspected abduction had been reported to the command.
She said: “One Ogunbunmi Lateef of Oke Lantoro, Abeokuta reported that his pregnant wife due for delivery left home for state Hospital, Ijaiye, Abeokuta.
“He received a WhatsApp message confirming the abduction of his wife by unknown armed men,” she said.