News
Reps Committee accuse lawyers of misleading cryptocurrency exchange coy
The House of Representatives Committee on Financial Crimes yesterday on Wednesday walked out lawyers from Udo Udoma and Belo-Osagie, for misleading a cryptocurrency exchange company in Nigeria suspected to be operating at variance with extant Nigerian laws.
Recall that on the 5th of December, 2023,
Empowerment for Unemployed Youths Initiative, Niger-Delta Youth Council and their partners petitioned Binance Holdings Limited, the operators of Digital Assets Exchange before the House Committee on Financial Crimes alleging a plethora of crimes and infractions against Nigerians and total disregard for extant laws governing cryptocurrencies which has posed a risk to Nigerians especially the youth who are vulnerable to such schemes.
The House Committee on Financial Crimes, swiftly summoned the Managing Director of Binance, Richard Teng in a letter dated 12th December, 2023 and signed by its chairman, Hon. Ginger Onwusibe requesting a hearing on the 18th of December, 2023.
However instead of honouring the invitation, lawyers from Udo Udoma and Belo-Osagie appeared on their behalf.
Speaking at the hearing, the Chairman, House Committee on Financial Crimes, Hon. Ginger Onwusibe described the appearance of lawyers from Udo Udoma and Belo-Osagie Chambers a as despicable and unprofessional stressing that the National Assembly is not a law court.
The chairman therefore walked Udo Udoma and Belo-Osagie out and directed that the company be given another date to appear.
A source at the National Assembly diclosed that, “to say we are disappointed with the infantile, treacherous, demeaning and insensitive treatment meted on the National Assembly by Udo Udoma and Belo-Osagie is an understatement. By conniving with an illegal entity clearly operating at variance with existing laws and risking the Nigerian economy, the firm has shown that its loyalty is not with the country and its laws but to their pocket and selfish desires even if it means disrespecting the legislature. A case unfolding like the P&ID scandal.
By disgracefully walking Udo Udoma and Belo-Osagie out of the hallowed Chambers of the National Assembly and venue of the scheduled meeting by the House Committee on Financial Crimes, the leadership of the National Assembly and indeed that Committee has shown that there is no room for crooks who are not worth their credentials and the trust bestowed on them. Udo Udoma and Belo-Osagie should stop embarrassing itself and allow the needful to be done rather than protect illegality”.
Commenting on the outcome of the committee sitting, the National Coordinator of Empowerment for Unemployed Youth Initiative, Amb. Solomon Adodo, the National Coordinator of the Niger Delta Youth Council, Chief (Engr.) Jator Abido, on behalf of other partners, expressed their deep seated disappointment with the lawyers from Udo Udoma and Belo-Osagie Chambers and wondered why a knowledgeable law firm could have the effrontery to treat the hallowed Chambers of the National Assembly with such disdain capable of bringing shame and ridicule on the House.
The group insisted that Binance Holdings Ltd must explain to the National Assembly and Nigerians the status of their operations in Nigeria by physically appearing before the House Committee on Financial Crimes with the relevant documents requested of them rather than enlisting the services of lawyers who have chosen the unprecedented route to promote gross ineptitude and primitive accumulation without any iota of patriotic commitment to the fatherland.
“Binance Holdings LTD. has a case to answer and they must avail themselves to the nation’s legitimate authority. You cannot be operating in the country and think you can disregard the laws of that country. Those beating the drums of disobedience to foreign firms whose operations threatens national security and economic stability must think twice. We are well within our mandate as civil societies and must continue to act as watchdogs to safeguard the economy and governance structure in the country. Those who are in bed with enemies of the country should know that their time is up”, the statement warned.
The groups equally cautioned Mr. Richard Teng, the Chief Executive Officer (CEO) of Binance Holdings LTD. to desist from acts capable of earning him a warrant of arrest from InterPol and the possible freezing of the assets of Binance, adding that, “crimes such as money laundering, investments and securities fraud, tax evasion and failure to comply with regulatory frameworks are crimes of national security dimension whose punishments are stiff. There will be no hiding place when the law finally catches up with Binance.
The group finally urged unsuspecting Nigerians to distance themselves from Binance.com whose “operation of a virtual asset platform targeting Nigeria (including the country’s cyber space) and onboarding Nigerians, without due registration violates the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, Securities and Exchange Commission (SEC) and Federal Inland Revenue Service (FIRS) in the country respectively. Nigerians should therefore not fall victim to such fraud or even enable it”.
News
“Nigeria’s Biggest Ever Coalition, Civil Groups, Professionals, Labour, Artisans, Declare for Bola Tinubu”
In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.
The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.
The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.
In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.
Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.
Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.
As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.
Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.
In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.
The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.
The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.
In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.
Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.
Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.
As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.
Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.
News
How ISWAP killed Army Col. Six others in Borno.
☆☆☆As Troops Foil Series of Ambushes.
Troops of the Nigerian Army under operation Hadin Kai have foiled a series of ambush by suspected members of the Islamic State West Africa Province (I SWAP) terrorist along the Monguno in Borno state.
Islamic state of West Africa province (ISWAP) have attacked the Nigerian army from Monguno 242 Battion Barrack in Borno State on their way to reinforce the camp.
A serving Nigerian Army Colonel was reportedly killed in an ambush by insurgents in Monguno, Borno State, during a reinforcement mission
Source added said that colonel I.A. Muhammad was ambushed by ISWAP and killed along with four other soldiers.
Community confirmed that the troops who were on a fighting patrol as part of operation,came under fire from suspected terrorists
As of the time of felling this report, there has been no official statements from the Nigerian Army regarding the accident.
News
Dogara Felicitates Dangote at 69, Applauds His Enduring Impact on Africa
Hon. Yakubu Dogara, former Speaker of the House of Representatives and Chairman of the Credit Guarantee Company Limited (NCGC), has joined Nigerians and the global business community in celebrating Alhaji Aliko Dangote on his 69th birthday. In a detailed tribute, Dogara described Dangote as “a visionary whose life’s work has become a cornerstone of Africa’s economic transformation.”
Dogara emphasized that Dangote’s entrepreneurial journey is one of resilience and foresight. From humble beginnings, he built the Dangote Group into Africa’s largest conglomerate, with investments spanning cement, sugar, salt, fertilizers, and the landmark Dangote Refinery. These ventures, Dogara noted, have not only revolutionized industries but also created millions of jobs, strengthened Nigeria’s economy, and reduced dependence on imports. “Alhaji Dangote is not just an entrepreneur; he is a nation-builder whose vision has redefined what is possible for Nigeria and Africa,” Dogara said.
He pointed out that the Dangote Refinery, in particular, represents a turning point in Nigeria’s energy sector, offering the promise of self-sufficiency in petroleum products and positioning the country as a major player in global energy markets. “This singular achievement underscores his commitment to solving Africa’s most pressing challenges through bold and innovative solutions,” Dogara remarked.
Beyond his industrial empire, Dogara praised Dangote’s philanthropy through the Dangote Foundation, which has invested heavily in healthcare, education, and humanitarian relief. From building hospitals and funding scholarships to providing aid during crises, Dangote’s generosity has touched countless lives across the continent. “His philanthropy reflects a deep commitment to humanity. He has shown that true greatness lies not only in building industries but also in uplifting lives,” Dogara added.
Dogara also reflected on the inspirational power of Dangote’s story, stressing that his rise from modest beginnings to global prominence serves as a beacon of hope for young Africans. “His journey proves that with hard work, faith, and determination, Africans can build enterprises that rival the best in the world. He remains a shining example of African excellence,” he concluded.
As Dangote celebrates his 69th birthday, his legacy continues to resonate far beyond Nigeria’s borders. His life stands as a testament to the transformative power of vision, enterprise, and compassion—an enduring reminder that Africa’s future can be defined by innovation, resilience, and generosity
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