The federal government has intensified its scrutiny of Binance, requesting detailed information on its top 100 users in Nigeria and their transaction history over the past six months. This move comes amidst ongoing investigations into allegations of currency speculation, which have been unfolding for the past three weeks.

Binance finds itself at the center of these investigations, facing allegations of involvement in speculative attacks against the Naira, which has recently experienced unprecedented volatility against major currencies, particularly the Dollar, due to currency devaluation concerns.

According to reports from the Financial Times, the Office of the National Security Adviser has also demanded that Binance settle any outstanding tax obligations owed to the federal government arising from its operations within the country.

Nigeria’s focus on Binance and other cryptocurrency platforms stems from its efforts to mitigate its worst economic crisis in three decades and restore public confidence in its currency, which has faced significant challenges.

Gumi Urges Tinubu to Pursue Dialogue with Bandits, Avoiding Buhari’s Approach
In response to these allegations, security agencies, in collaboration with officials from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN), have taken action, including blocking web access to cryptocurrency exchanges and detaining two Binance executives who traveled to Abuja to discuss the crackdown.

As a result of the escalating situation, Binance has removed the Naira from its trading platform.

Reports suggest that the detained Binance executives are being held at a guest house in Abuja, adjacent to the office of the national security adviser. Their phones and passports were confiscated upon detention. They could not communicate with Binance until March 5, 2024, a week after their detention, and have yet to be formally charged in court.

According to the Financial Times, the federal government obtained permission to detain both Binance executives for 14 days, which ended on Tuesday.

The crackdown on Binance follows ongoing investigations into the country’s foreign exchange market, which has reportedly suffered from years of distortions, manipulations, and speculative activities, leading to the continuous depreciation of the Naira against major currencies, especially the US dollar, in recent times.

At the recently concluded meeting of the Monetary Policy Committee (MPC), CBN Governor Mr. Olayemi Cardoso justified the central bank’s actions, particularly against Binance, citing the platform’s facilitation of speculative activities against the Naira. He expressed concerns about illicit inflows and suspicious transactions, emphasizing the CBN’s commitment to safeguarding Nigerians from the disruptive activities of such cryptocurrency platforms.

Cardoso highlighted collaborative efforts between the CBN, EFCC, police, and the Office of the NSA to crack down on alleged economic saboteurs, stressing the determination to maintain market integrity and prevent manipulative practices that distort economic stability.

The Joint Admission Matriculation Board (JAMB) has warned parents to desist from enrolling minors for the unified tertiary examination.

Naija News reports that this warning was issued in a statement by the Board’s spokesperson, Fabian Benjamin, on Wednesday in Abuja.

It was in reaction to a suit filed by Mrs Ifeanyi Eke against the Board over inappropriate text messages sent to her 15-year-old daughter during her registration.

According to the Registrar, Prof Ishaq Oloyede, JAMB reported the event to security agencies so they could take the proper measures, but the mother didn’t care and sued for N100 million at the child’s expense.

Oloyede said the Board was ready to meet with the woman, insisting that the message sender was not a JAMB employee.

He said, “The person is not our staff, he is not even a staff of the centre, he is a co-student. He is just like a candidate, an undergraduate in one of the universities.

“And talking about our data, nobody has access to our data. The person got the information from the phone of the underage girl.

“How did your girl of 15 years get ready for university now? If she is law-abiding as she claimed. The law today is that you must spend six years before primary school, six years in primary school and six years in secondary school. By that time, you are 18.”

Recall that Eke had filed a N100m suit against JAMB and three others before the Federal High Court in Lagos over alleged unsolicited and inappropriate text messages sent to her 15-year-old daughter.

Samson Siasia and Emmanuel Amuneke were among those who met the deadline for submitting application letters to the Nigeria Football Federation (NFF) for the vacant post of head coach of the Nigerian national football team, the Super Eagles.

Naija News reports that the Super Eagles coaching job application was open until yesterday, March 12th.

Recall that the NFF had publicized an advert seeking a passionate and experienced coach with a winning mentality.

The ideal candidate would have experience managing at the highest level, with a proven track record of success. Knowledge of African football was a plus, but not mandatory.

The Super Eagles coaching position was declared vacant just last week following former gaffer, Jose Peseiro‘s contract expiration at the end of February 2024.

Reports emerging on Wednesday morning revealed that at least twelve coaches beat the deadline for submitting application letters yesterday.

According to Vanguard, among those who successfully submitted their applications to the NFF are the former head coach of Tanzania’s senior men’s team, Taifa Stars, and the ex-coach of the 2015 FIFA U-17 World Cup-winning team, Golden Eaglets of Nigeria, Emmanuel Amuneke. Finidi George, who was Peseiro’s assistant coach, and former Super Eagles head coach Sunday Oliseh also submitted applications.

Others who filed their applications before the deadline are Samson Siasia, former Super Eagles head coach whose FIFA ban will soon be lifted, Sylvanus Okpala, ex-Super Eagles assistant coach under the late Stephen Keshi, and Michael Nsien, ex-USA U-16 team coach of Nigerian descent.

The Federal Government has invited memoranda from the public as it begins the probe of private universities established in the last 15 years.

The Federal Government initiated the probe following an investigative report by Daily Nigerian journalist, Umar Audu, uncovering certificate racketeering in neighbouring Benin Republic and Togo.

Checks by The PUNCH showed that no fewer than 107 private universities were established in the last 15 years.

The Inter-Ministerial Investigative Committee on Degree Certificate Milling set up by the Federal Government would be examining “whether or not private universities established in the last 15 years have in place prescribed facilities, appropriate management structure, adequate funding of programmes, requisite state, and nature of the staff – full-time, contract, adjunct, visiting and other types.”

The committee, in an advertorial published in The PUNCH of Tuesday, noted that the probe was “without prejudice to the periodic accreditation exercise of the National Universities Commission.”

“Memoranda from the general public are, therefore, solicited to provide information to the committee to help it make appropriate recommendations to address the menace in line with its terms of reference,” the committee said.

In his investigative report published late last year, Daily Nigerian journalist Audu had narrated how he obtained a degree within six weeks from Benin Republic and even proceeded to embark on the mandatory youth service under the National Youth Service Corps scheme in the country.

Reacting, the Federal Government, on January 9, 2024, said it would launch an investigation into private universities established in the last 15 years.

The Minister of Education, Prof. Tahir Mamman, made this known in Abuja while inaugurating the Inter-Ministerial Committee on fake degrees and activities of degree mills in the country.

The Committee Chairman, Jibrila Amin, noted that the inter-ministerial committee would “Review the role of any MDA or its officials (including identifying such officials) in the facilitation of the recognition and procurement of the fake certificate in question.”

The committee will also”examine the rules, procedures and processes for recognition and accreditation of foreign universities and programmes by the Federal Ministry of Education; Establish if unapproved foreign institutions (Degree Mills) exist or not in Nigeria in whatever form with their identities and locations if any.”

It is expected to “make appropriate recommendations for review of any rules, procedures, and processes to prevent re-occurrence and sanctions for identified erring officials.

“Make other recommendations that will strengthen the system of recognition, accreditations and quality assurance of degrees in Nigeria and examine the extant rules, procedures and processes for granting provisional licenses to new universities by the National Universities Commission.”

President Bola Tinubu joined the Muslim faithful at the State House mosque for the Ramadan Tafsir (translation of the Holy Qur’an) on Tuesday, appealing to Nigerians to pray for peace and stability in the country.

Declaring open the annual Tafsir, President Tinubu advised the Muslim faithful to demonstrate kindness to one another and their neighbours while also supporting the less privileged in society.

”We thank Almighty Allah for sparing us to see another holy month of Ramadan. We thank Allah for sparing us through the elections and giving us the opportunity to be Nigerians.

”Yes, things are tough, but Allah has ordained us to make sacrifices, to discipline ourselves, help others, and be kind to ourselves.

”May Almighty God, that gave us this opportunity, strengthen our resolve; help us change our country, and extend our love to our neighbours.

”We face challenges of kidnapping, banditry, and others. May Allah show mercy on all of us, the dead, and accept our good deeds.

”May Almighty Allah give us strength and good life to see the month of Ramadan through and to continue in good faith to worship him. I advise all of us to continue to pray for our country,” the President said.

President Tinubu told the Ulamas that God has given them the wisdom, knowledge, and the heart to teach others, emphasizing the importance of teaching forgiveness, patience, and endurance to the faithful, as well as sharing their blessings with others.

”It is in our hearts to make sacrifices and share whatever little we have with our brothers and sisters. Be kind and humble enough. The sacrifice that this period teaches us is enough.

”May Almighty Allah grant us the privilege and the strength; not the strength of hunger but the strength of character and attitude to love our country and make Nigeria great. As-Salaam-Alaikum,” the President prayed.

The Nigerian National Petroleum Company Limited (NNPC Ltd) has deactivated 6,409 illegal refineries in the Niger Delta region.

The Group Chief Executive Officer of the company, Mr Mele Kyari, made the disclosure at an interactive session with the EFCC’s chairman, Mr Ola Olukoyede, which was held at the NNPC Towers in Abuja.

Speaking about the efforts by NNPC Ltd to eradicate corruption from its system; stem the crude oil theft and pipeline vandalism, Kyari contended that going by the volume of oil stolen daily and the brazenness with which the perpetrators operate, crude oil theft was the most humongous and virulent economic crime in Nigeria that must attract the attention of the EFCC.

He said: “Today, we have disconnected up to 4,846 illegal pipes connected to our pipelines, that is out of 5,543 such illegal connection points. That means there are a vast number of such connections that we have not removed.

“As we continue to do our best to deepen transparency and stamp out corruption from the system, there is one big challenge that you will need to help us with, Mr Chairman. That challenge is crude theft. It fits into everything you have said – the people, the asset, the opportunity and the absence of deterrence.

“I believe, personally, that the very purpose of your commission is to curtail economic crimes, and there is no bigger economic crime of this scale anywhere else than what is happening in this area.”

On corruption within the system, Kyari explained that by law, NNPC Ltd is required to maintain high ethical standards and has put in place structures and measures to curb discretionary actions which fuel corruption, stressing that most processes in the company have been fully automated to discourage arbitrary actions.

In his presentation, the Executive Chairman of EFCC, Mr Ola Olukoyede, expressed satisfaction with NNPC Ltd’s commitment to issues of ethics and code of conduct.

He, however, challenged the management to ensure that the codes of ethics and regulations are complemented with monitoring and enforcement to enhance deterrence.

Justice Peter Kekemeke of an FCT High Court on Tuesday sentenced a fake investigator, Mohammed Momoh, to seven years imprisonment for duping Mrs Mario Al-Makura, wife of the former governor of Nasarawa State.

Kekemeke sentenced Momoh based on the charge preferred against him by the Economic and Financial Crimes Commission, EFCC, bordering on false pretences.

Momoh after his counsel, Godwin Omagbogu, pleaded on his behalf.

Omagbogu had pleaded for leniency on behalf of his client, saying he was a first-time offender and father to three little children and a young wife.

The prosecution counsel, Diana Nkwap, however, urged the court to use its discretion in sentencing the convict.

The judge held that the punishment under which the defendant is charged attracts 20 years imprisonment maximum and seven years minimum.

Justice Kekemeke thereafter sentenced Momoh to seven years imprisonment.

The judge had earlier on February 27, 2024, convicted Momoh when he held that the prosecution proved its case beyond reasonable doubt.

Momoh was arrested in December 2017 by operatives of the Economic and Financial Crimes Commission for attempting to defraud Mairo Al makura.

The EFCC alleged that the suspect, while posing as a private investigator from the “Villa,” approached the wife of the Nasarawa governor with a proposal to help stop a purported investigation of two accounts belonging to her husband.

The anti-graft agency said Momoh claimed that he came across information regarding the two accounts in 2011.

The EFCC said the defendant requested for N8 million but was offered N6 million. Not clear about the proposal, the governor’s family contacted the EFCC and were asked to play along with the defendant.

The defendant was arrested during a sting operation after he collected marked N2 million from Al Makura.

According to the EFCC, the offence is contrary to Section 1(1)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006.

The House of Representatives, on Tuesday, called on the Office of the National Security Adviser to coordinate intelligence and security operations in the country, particularly in Kaduna State, following last week’s abduction of over 200 students in the Chikun Local Government Area of the state by suspected bandits.

The lawmakers also expressed worry that in spite of the N3.25tn security and defence spending approved by the National Assembly, the security situation in the country was far from the expectations of Nigerians.

This was just as the lawmakers in the Green Chamber called for the control of small and light weapons amid worsening insecurity in some parts of the country.

The House’s resolution was sequel to the adoption of a motion on matters of urgent public importance titled, “Urgent need to tackle the abhorrent abduction of over 200 students in Kuriga community of Chikun and secure lives and property in Kaduna State.”

The motion was moved by the member representing Lere Federal Constituency, Kaduna State, Ahmed Munir.

The PUNCH had reported that on March 7, 2024, gunmen stormed the Local Education Authority Primary School and Government Secondary School in Kuriga Community, taking into captivity over 200 pupils and students.

Leading the debate, the lawmaker noted that just two months ago, a school principal, Abu Sufyan, was killed and his wife and baby abducted, adding that the wife and baby were later rescued in a successful joint security operation on February 3, 2024.

He said, “The House is aware that on Friday, March 8, 2024, gunmen attacked worshippers in a mosque at Angwar Makera, Kwasakwasa Community in the Birnin Gwari Local Government Area of Kaduna State, with two persons declared dead.

“This worrisome trend of violence is seeping into other parts of the state affecting persons of all religious and ethnic backgrounds.”

He expressed concern that despite “The N3.25trn allocated to the defence and security sector on drones and other military equipment that could have tracked, located and rescued victims, there has been no respite as the bulk of the actions by security personnel are reactionary rather than proactive.”

Following the adoption of the motion, the House mandated the Office of the National Security Officer to “coordinate and galvanize all security and intelligence networks to develop and execute a proactive master plan to restore security with defined plans on coordinating with neighbouring countries.

“The plan must include boots on ground land and aerial sweep of locations that include but not limited to Kuyambana forest in Zamfara, Kamuka forest in Kaduna, Falgore forest in Kano, Borgu and Zugurma forests in Niger State.”

The lawmakers also urged the Office of the NSA to “revisit and optimise fully the Acts passed for the National Counter-Terrorism Centre as well as the National Centre for the Control of Small Arms and Light Weapons, and ensure that they fully serve the purpose of their establishment.”

Kaduna-based Muslim cleric, Sheikh Ahmad Gumi, on Tuesday, sought government’s permission to approach and have talks with bandits who abducted about 287 schoolchildren from Kuriga Government Secondary and LEA Primary Schools in the Chikun Local Government Area of the state.

The Islamic cleric insisted that dialogue was the way to go, calling on President Bola Tinubu to take a different approach from his predecessor, Muhammadu Buhari, who rejected the dialogue.

The PUNCH reports that bandits invaded the Kuriga area of the Chikun Local Government Area of Kaduna State, shooting at their victims before taking away at least 280 of the pupils and teachers from both schools.

The incident occurred barely 24 hours after insurgents abducted 200 internally displaced women in Borno State.

The women were kidnapped in Ngala, the headquarters of Gambarou Ngala in Borno State, while fetching firewood in the bush.

Penultimate Thursday, bandits invaded the Gonin-Gora in the same Chikun LGA, prompting residents to barricade the Kaduna-Abuja Expressway in protest against the abduction of an unspecified number of people in the area.

Meanwhile, the government of the affected state has refused to dialogue with the bandits to release the schoolchildren and has also refuted claims that it had hired a private negotiator to facilitate the release of the victims.

However, reacting to the development, Gumi said in a statement, “The government’s stand of no negotiation with the bandits is an unfortunate position. My advice is that the government should dialogue with the bandits not only for these Kuriga school children’s abductions but all cases.

“Also, the government should use the same approach it used in releasing passengers that were abducted on the Abuja–Kaduna train in 2022 to release the Kuriga school children and others.

“I am ready to lead a holistic dialogue between the government and bandits. It is my religious duty to do so for peace.

“I hope the present government of President Bola Ahmed Tinubu will listen by dialoguing with the bandits because the past administration of former President Muhammadu Buhari refused to do so.”

Gumi had previously negotiated on behalf of state governments to free abducted people by bandits.

In May 2021, one of the parents of the kidnapped students of the Federal College of Forestry Mechanisation, Afaka, Kaduna State, said rather than point an accusing finger at Gumi for being complicit in the banditry ravaging the country, Nigerians should commend the cleric for his interventions in seeking the release of abducted persons in the country.