FULL LIST: Binance, OctaFX, Coinbase, others cryptocurrency platforms blocked by FG over forex crisis
AdminThe Federal Government has moved against online platforms of Binance and other cryptocurrency firms over alleged manipulation of the forex market.
Binance is a digital assets platform which serves as a window for peer to peer transaction allowing users to advertise interest to sell or buy currencies of their choice.
On February 5, 2021, the Central Bank of Nigeria (CBN) directed banks, non-bank financial institutions (NBFIs), and other financial institutions (OFIs) to close accounts of persons or entities involved in cryptocurrency transactions.
The regulator also warned local financial institutions against dealing in crypto assets or facilitating payments for crypto exchanges.
CBN cited concerns over money laundering, terrorism financing, cybercrime, and the volatility of cryptocurrencies as reasons for the ban.
In December 2023, the Central Bank of Nigeria changed its stance on crypto assets and asked banks to disregard its February 2021 ban on crypto transactions.
This latest restriction on crypto websites is aimed at slowing currency speculation activities in the country, with Binance stating that its platform is not for currency pricing.
Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, argued that Binance and other crypto platforms should be banned from operating in Nigeria.
He said the cryptocurrency trading platform is facing restrictions in multiple jurisdictions such as the United States, Singapore, Canada and the United Kingdom.
Reacting, Binance said its firm does not operate as a price discovery platform and FX rates are determined by complex forces that have nothing to do with the company.
Read Also: EFCC chairman bags Fraud Investigators Institute’s Fellowship
The trading company said it provides a market-driven peer-to-peer (P2P) platform that is not meant to be a proxy for currency pricing in Nigeria.
The platform users have complained about their inability to buy dollars.
The platforms blocked include:
– Binance
– Forextime
– OctaFX
– Crypto
– FXTM
– Coinbase
– Kraken
– Kucoin
– Bybit
There are also many other platforms used in the cryptocurrency transaction in Nigeria.
The Comptroller General of Customs, Adewale Adeniyi, announced that the distribution of confiscated food items will start on Friday. Adeniyi, addressing journalists in Lagos on Thursday, cautioned against reselling the distributed items.
He also prohibited customs officers from participating and mentioned that the rice, available in 25kg bags, would be sold for N10,000.
The NCS had earlier stated plans for direct distribution of seized food items to Nigerians, with eligibility requiring individuals to provide a Nigerian Identification Number, as reiterated by Adeniyi.
“The target groups included artisans, teachers, nurses, religious bodies, and other Nigerians within our operational areas. The intention is to reach out directly to members through these organised structures to ensure the maximum impact of this exercise,” Adeniyi added.
He warned against profiteering or exploitation of the initiative.
“It is imperative that beneficiaries of this exercise understand that the items are not to be resold. We take a strong stance against any form of profiteering or exploitation of this initiative. We urge Nigerians to report any incidents of misuse or unauthorised resale of the seized food items,” he said.
He maintained that the NCS was fully committed to transparency and accountability in this process.
“We will not hesitate to take decisive action against any individuals or entities found to be in violation of the terms of this program,” the customs asserted.
Adeniyi said that the exercise would not last forever, adding that it would be a way for the service to dispose of seized food items for now.
“We are here to shed light on the commitment of the NCS to protecting our society by ensuring the availability of essential food items. In recent months, the government has been addressing the challenges faced within our economy.
“Items are moving out massively to neighbouring countries. Some of the items included, over 20,000 bags of assorted grains, 2,500 cartons, and 963 bags of dried fish.
“Others are dried pepper, tomatoes, cooking oil, macaroni, salt, sugar, garri. This trend is not sustainable as it puts pressure on our productive capacity and threatens our food security,” Adeniyi noted.
Ex-Senator Halilu Girei Propose 40% Salary Cut for Political Office Holders to Alleviate Hardship
AdminFormer Senator Abubakar Halilu Girei has proposed urgent measures to tackle Nigeria’s economic challenges, advocating for a presidential order mandating all political office holders to contribute 40% of their salaries and allowances towards alleviating the hardship faced by Nigerians.
Girei made these remarks during a press conference at his residence in Yola, the capital of Adamawa State, on Thursday.
To address the issue of job creation, he suggested that political office holders at the national, state, and local government levels should contribute 40% of their salaries and allowances for a period of two years, as outlined in a presidential order.
Additionally, Girei proposed the presentation of a supplementary budget of N1 trillion to the National Assembly, with a significant allocation of N2 trillion towards addressing insecurity in the country.
The former Senator also recommended the implementation of the White Paper on the Oronsanye Report, aiming to streamline Ministries, Departments, and Agencies (MDAs) to reduce the overall cost of governance.
Furthermore, he called for a joint meeting of the National Council of State and the National Economic Council to align their strategies and take necessary political actions to alleviate the suffering of Nigerians.
Girei underscored the importance of combating corruption, particularly in the management of subsidies on petroleum products and electricity. He urged for a forensic audit to uncover any fraudulent activities related to tax, Value Added Tax (VAT), and other revenue streams accruing to the federation.
A former Nigerian Senator, Shehu Sani has reacted to a viral audio of an Islamic cleric calling for the murder of the First Lady, Remi Tinubu.
In the audio, the cleric could be heard stating that Remi Tinubu must be killed because she is the leader of infidels in the country.
He insisted that she deserves to die for being a pastor.
He also said that the Muslim/Muslim ticket that brought President Bola Tinubu to power was a scam.
The cleric said, “Now, Tinubu, his wife is an infidel. As an infidel, she is a leader among the infidels.
“God’s judgement says she must be k!lled. She’s a pastor… a leader of infidels (Christians); Allah says they must be killed…”
Reacting, Sani insisted that the cleric statement was unacceptable and condemnable.
He noted that it was within the democratic rights of a citizen to criticise government policies, but calling for the murder of the first lady was preposterous.
According to him, “Criticising the Government and its policies is within the ambit of democratic rights;but Calling for the killing of Senator Remi Tinubu by the religious cleric is unacceptable and utterly condemnable.”
Listen to the audio
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The presidential candidate of the Labour Party (LP) in the 2023 polls, Peter Obi, has said the reported N744,500,000 his campaign team spent on the 2023 election litigation was not just for paying lawyers, as some have reported.
He said this on Thursday in a statement signed on his behalf by Dr Yunusa Tanko, the chief spokesman of the Obi-Datti Campaign Committee.
He said the N744.5 million was a general expenditure on legal services, which also included research, accommodations, transportation, local and international flights, and stationery for various documents.
“We would like to be on the same page with the public on this matter and to remind the public that it encompasses all the things concerning our legal cases, ranging from pre-election to post-election legal processes.
“Including also the filing of cases before elections on matters involving our candidate, transmitting and photocopying of legal documents, bringing experts from overseas during our post-election legal battles, and their accommodation all form the legal expenses,” he said.
He added that also included the funding of lawyers sent to states to collect electoral materials from INEC state offices and financial assistance to some of the candidates of the party who had legal issues, among others.
The Nigeria Police has arrested the officers attached to the Special Tactical Squad in Abuja and their accomplices responsible for the extortion of a member of the public of the sum of N30,300,000.
In a statement Friday by the Force Spokesman, ACP Olumuyiwa Adejobi, the arrest of the officers followed the recent notice brought to the attention of the Force via the X (Twitter) Platform.
“Following the recent act of extortion by some officers of the Nigeria Police attached to the Special Tactical Squad in Abuja who extorted a member of the public of the sum of Thirty Million, Three Hundred Thousand Naira (N30,300,000), which was brought to the notice of the Force via the X Platform, the Nigeria Police wishes to reveal and announce that significant progress has been made in apprehending the officers and their accomplices responsible for this unprofessional conduct as the squad who initially escaped upon commencement of investigations have been arrested and are currently in custody,” the statement reads.
According to the Force PPRO, the Inspector General of Police, Kayode Adeolu Egbetokun as part of his commitment to upholding the highest standards of integrity and accountability within the Nigeria Police Force ordered the commencement of disciplinary proceedings to ensure that justice is served swiftly and decisively.
“These disciplinary measures underscore the zero-tolerance stance of the Nigeria Police Force towards any form of misconduct or corruption among its ranks.
“The IGP also emphasized the imperativeness that those found to have violated the trust placed in them by the public face the full consequences of their actions, as such behavior not only tarnishes the reputation of the Force but also undermines the collective efforts to maintain law and order in our country.
“The Nigeria Police Force remains resolute in its quest to uphold the highest standards of professionalism, integrity, and accountability. As guardians of public safety and the rule of law, we are deeply committed to ensuring that all officers adhere strictly to ethical conduct and demonstrate staunch integrity in the discharge of their duties.
“The NPF recognizes that transparency and accountability are paramount in maintaining public trust and will continue to take decisive action against any misconduct within our ranks.”
Toni Kroos will return to the German national team ahead of this summer’s European Championship, the Real Madrid midfielder confirmed on social media on Thursday.
Kroos, 34 – who retired from international football in 2021 – had revealed earlier this month that he was considering the move before Euro 2024, which will be hosted by Germany.
“Guys, short and painless: I will play for Germany again from March,” Kroos posted on Instagram.
“Why? Because I was asked by the national coach, I’m up for it and I’m sure that a lot more is possible with the team at the European Championships than most people believe!”
Kroos made 106 appearances for Germany between 2010 and 2021, scoring 17 goals, and was a key member of the team which won the 2014 World Cup in Brazil.
He retired after facing criticism for his performances in Euro 2020, when Germany were eliminated by England in the round-of-16.
The midfielder has been career-best for Real Madrid this season, helping them to the LaLiga summit.
[Leadership]
Inter Miami forward, Lionel Messi, has given away his latest Ballon d’Or trophy only months after he won it controversially ahead of Erling Haaland and Kylian Mbappe.
Last October, Messi was crowned the best player in the world for a record eighth time, after he led Argentina to glory at the 2022 World Cup in Qatar.
The 36-year-old was handed the award almost seven months from winning the one major honour that had eluded him throughout his career.
It left some fans and pundits furious, as they felt Manchester City’s Haaland was more deserving.
However, four months on from the award win, Messi has given away his latest individual prize.
According to Spanish journalist, Miquel Blazquez, Messi has donated his Ballon d’Or trophy to Barcelona despite not winning it with his old club.
This will allow Barca to place their all-time-great former player’s eighth award alongside the other seven that are in their club museum.
Messi cemented a legacy as arguably the greatest player in soccer history at the Nou Camp, winning 10 Spanish titles and four Champions Leagues while scoring an incredible 672 goals in 778 games.
[DailyPost]
A Delta State High Court sitting in Effurun has refused the application by Nigerian-American singer, David Adeleke, popularly known as Davido, seeking a stay of proceedings in the N2 billion suit filed against him by Brownhill Investment Company Limited over the annual ‘Warri Again Concert’
The claimant, in the suit, is praying the court to award N2 billion as general damages against Davido.
Besides, the claimant is praying to the court for N150 million as legal and professional fees and an additional N30 million as the cost of filing the suit.
Defendants in the suit are David Adeleke a.k.a “Davido,” and his music label, Davido Music Worldwide Limited.
At the hearing in the matter, Davido’s counsel, Mr Norrison Quakers, SAN, informed the court that there was a pending appeal and that the defendants had filed a motion for a stay of proceedings.
Quakers further told the court that the defendants had been served with a copy of the claimant’s counter affidavit to the said motion for stay.
However, he applied to withdraw the motion and submitted that the Court of Appeal had become seized with authority over the proceedings pending before the lower court.
Claimant counsel, Kelechi Onwuegbuchulem, did not oppose the application to withdraw the motion and the court granted the same according.
The court in a bench ruling upheld the claimant’s argument and held that until an order staying further proceedings is obtained from the Court of Appeal, the High Court will continue with proceedings in the case.
The court also granted the motion on notice seeking to regularise the claimant’s reply to the statement of defence and directed that Pre-Trial Conference, PTC, forms be filed within 14 days in line with the rules of the court. The court adjourned the case to March 21, 2024, for a pre-trial conference.
Recall that Davido had, in his preliminary objection challenged the jurisdiction of the court, because the case ought not to take place in Effurun
But the court in its ruling dismissed the preliminary objection.
[Vanguard]
Former Barcelona forward, Gerard Deulofeu, has insisted that he might not play football again.
The 29-year-old is yet to recover from a horrific knee injury he sustained last year.
The Spaniard, who is still recovering, said on the Jijantes Twitch channel (via Daily Star):
“For several months I have known that I might not play again.
“I can’t do what I love for a long time.
“I am trying to recover in every way, but I have accepted the idea that I may never recover.”
[DailyPost]
More...
Popular radio presenter, Toolz has opened up about her battle with online trolls who relentlessly criticized her appearance and size.
Recounting her experience, she shared how she became a trending topic online due to a statement she made on air, revealing that the constant body-shaming nearly drove her to leave the media profession.
Preaching against body shaming on Instagram, Toolz wrote: “So let me tell you about how I almost quit my whole career because of body shaming. My job as a presenter at Beat FM was the first time I experienced life in the public eye. Initially, the attention was positive, then the negative attention started – and it was bad. I mean very bad. Someone would disagree with something I said on-air and it would descend into body shaming.
“My breaking point happened one morning when I woke up and found out I was trending on (then) Twitter. I trended while I was asleep! It had been a tough week, and waking up to all sorts of horrible body-shaming posts made me think that perhaps this career wasn’t for me. I just wasn’t used to all the negativity and at that point quitting seemed to be a great idea. At least that way, I wouldn’t have to deal with all the horrible criticism.
“A day or two later, I thought about it some more and realised that I didn’t make the move to Lagos to let some trolls bully me out of a job, and many years later, I’m so glad I didn’t quit.
“Honestly, whether you’re big, small, curvy, slim, have a big booty, no booty, tall, or short, someone somewhere will find something wrong with you.
What truly matters is what you think of yourself. You need to remember to keep trying to be the best version of yourself. And whatever changes you make should be for you, not to keep a man like “aunty’ put it.”
[TheNation]
Nigerian football legend, Chief Segun Odegbami, has said how the Elephants of Cote d’Ivoire defeated the Super Eagles of Nigeria at the African Cup of Nations final on February 11, was similar to how the national team won the edition in 1980.
The ex-international said the Super Eagles were overpowered in the final for playing in an inspiring and electrifying atmosphere favourable to the Ivorian team as they hosted the tournament, which was similar to what happened to the then Green Eagles when Nigeria hosted and won in 1980.
Odegbami said this in a recent exclusive interview with Vanguard in Lagos, while providing insights into the performance of Jose Peseiro’s side that clinched silver medals at AFCON 2023.
The former Nigerian footballer said the Green Eagles beat the Algerian team at the final of the 1980 because the stadium was filled with 100,000 Nigerians including late President Shehu Shagari, making the atmosphere an inspiring one to win.
Nigeria beat Algeria 3 – 0 in the 1980 AFCON final as Odegbami got a brace while the third goal came from late Muda Lawal.
He likened the same to the trajectory of the Ivorians in the just concluded biggest African football showpiece where the Elephants were more inspired.
Odegbami said, “And when it even came to our turn, you don’t go to the finals like that against a team that was that inspired. You know, I was a witness to the 1980 Cup of Nations. We were not the best team in that Championship.
“We got to the final against Algeria that were easily the best team, they were the better team between the two at the final. But we were supported by 100,000 Nigerians on that field. There was no single Algerian supporter and the kind of support we received was unprecedented. Our president was sitting there and so on.
“The atmosphere was intimidating, it was electrifying, it was positive for us. It was negative for the Algerians. And we did what we could not ordinarily do. We scored goals we could not ordinarily score. And we won, and we are still celebrating it today.”
Comparing the latest edition to what favoured Nigeria 44 years ago, Odegbami said, “And that was exactly what happened to the Ivorians. They were inspired, they were lifted and we were intimidated, dispirited, and so on.”
The 71-year-old commended the federal government for massive rewards given to the players, saying they were rewards for lifting the spirit of the country at a very difficult time.
He said, “It happened like that and I believe that’s why the government rewarded the situation, that they did their best and went beyond expectations. They lifted the spirit of the country. Nigeria had never supported a team the way they supported this team, even though at the start, people did not have an interest.
“But getting to the final, every Nigerian all over the world was interested in that match and seeing the national team play. It unified Nigerians. We were going through some of the worst times in our history. Then you can imagine the hardship that people are going through – the political turmoil, the economic turmoil, the social turmoil and yet there was something the whole country wanted to celebrate.
“It was something that lifted us out of that low morale, and that was the football matches going on in Cote d’Ivoire. So, it attracted unprecedented interest and that was what the federal government rewarded. I will see it as the positive not as a negative. I won’t lament anything. We might not have been perfect.”
Video: How Peter Obi Sent Me N250,000 Instead Of Millions For My Mother’s Burial – Kanayo O. Kanayo
AdminVeteran Nollywood actor, Kanayo O. Kanayo has recounted how the presidential candidate of the Labour Party (LP) in the 2023 presidential election, Peter Obi reached out to him when his mother died.
Speaking during an interview, Kanayo disclosed that in 2011 after his mother’s burial, Obi called him to send his condolences.
He disclosed that the politician sent him 250k for the burial which was the price of a cow in 2011.
The thespian stated that some people would have expected Obi, who at that time was the governor of Anambra State, to give him millions but he only sent him the amount that could purchase a cow.
He, however, stated that despite the amount Obi sent, the most important thing was that he put aside time in his busy schedule to give him a call and send his condolences.
He insisted that people who cannot put time aside to return his call should not refer to themselves as his friends.
Watch the video below,
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Economic Hardship: What Do You Want Tinubu To Do If You Are Hungry? – APC State Chairman Knocks Nigerians
AdminChairman of the Ebonyi State chapter of the All Progressives Congress (APC), Stanley Okoro Emegha, has called on all Nigerians to go into agriculture to combat the economic crisis in the country.
Emegha insisted that President Bola Tinubu cannot solve the increasing general hardship in the country alone.
The APC chieftain stated this at an event in Abakaliki, the state capital.
He urged Nigerians to engage in meaningful ventures and stop blaming the president for their woes.
Emegha questioned if Tinubu had stopped anyone from going to their farm to cultivate crops.
According to him, “Things are hard in the country now, and the much we can do is to be helping those we are better than. I want everybody to embark on agriculture, let’s feed first. These are the things we can do by ourselves. I have told my family members that we have to go into cultivation. If you have food, I don’t think you will be hungry.
“Government, to some extent, can provide food for certain agricultural programmes. So, why not go into cultivation? Let everybody embark on agriculture.
“If you are hungry, what has Mr. President got to do? Mr. President cannot do it alone, all of us have to join hands and tackle this general hardship.
“Go to the farm, did Mr. President tell you not to farm in your backyard? The answer is no.
“Let’s go and farm, think of what you can produce in your farm. You can produce enough garri and give to others. You can produce enough rice and give it to others. Why must you be waiting for Mr. President to give you money before you can go to your backyard and farm? Did Mr. President seize anybody’s farm? The answer is no.
“Let us first of all know that you can solve the problem by yourself. If there is food sufficiency now, you will see that everybody will boycott Abuja. Go to Aba, see that the people there are comfortable because they don’t depend on the government. If you say that you are an honorable member there, they will look at you as a useless person.”