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Reps summon Binance boss over alleged terrorism financing, others
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The House of Representatives Committee on Financial Crimes has summoned the Chief Executive of Binance Holding Limited, Richard Teng, over alleged involvement in terrorism financing and money laundering.
The Chairman of the Committee, Ginger Onwusibe, on Friday at a panel, issued a seven-day ultimatum to the management of Binance Holdings Ltd to appear before the committee on or before March 4, 2024.
Binance, an online exchange where users deal in cryptocurrency, has been flagged by the Central Bank of Nigeria to have been involved in money laundering, amongst others.
Onwusibe, however, warned that the committee would be forced to invoke the constitutional powers vested in the committee to take appropriate measures if Binance Holdings fails to heed the summon.
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Onwusibe, decried the refusal of the Chief Executive of Binance Holding Limited, Teng, to appear after a series of invitations to brief the committee relating to the total disregard for extant laws governing business and financial operations in the country.
The Committee had summoned the Managing Director of Binance, in a letter dated 12th December 2023 and signed by its chairman, Onwusibe requesting a hearing on the 18th of December, 2023.
“We also have to protect and defend the country’s finances, especially now that the country is nose-diving into recession. The allegations of terrorism financing, money laundering and tax evasion amongst others levelled against Binance are damning enough.
“At this material time, we need all the tax dollars and to block the leaks and channels to financing terror,” the lawmaker added.
Ugandan President Yoweri Museveni has officially been sworn in for a seventh consecutive term after securing victory in the country’s disputed January elections, extending his nearly four-decade rule.
Tight security was observed across Kampala ahead of the inauguration ceremony, with armoured vehicles and security operatives deployed around key areas. Authorities said the measures were put in place to maintain order during the event.
Museveni, 81, was declared winner of the presidential election with more than 70 percent of the vote and is expected to remain in office until 2031. His main challenger, Bobi Wine, rejected the outcome, alleging widespread electoral malpractice including ballot stuffing. Electoral officials denied the accusations and maintained that the poll was credible.
Bobi Wine, whose real name is Robert Kyagulanyi Ssentamu, later fled Uganda, claiming he feared for his safety and accusing the government of targeting opposition figures.
Museveni first took power in 1986 after leading a rebel movement and has since remained one of Africa’s longest-serving leaders. Analysts believe this latest term could potentially be his last, although he has not publicly indicated any plans to step down.
Attention has also turned to Museveni’s son, Muhoozi Kainerugaba, who is widely seen as a possible successor. However, the military chief has faced criticism over controversial social media posts directed at opposition politicians.
At least 100 civilians were killed in a Nigerian military airstrike on a crowded market in Tumfa, Zurmi Local Government Area of Zamfara State, northwest Nigeria, Amnesty International said on Tuesday.
The strike hit the remote market on Sunday, May 10, 2026, with many victims reportedly being women and girls.
This is now the second deadly airstrike on a crowded market in northern Nigeria within the past one month, following a similar incident in April that reportedly killed more than 100 people.
Amnesty International has called on Nigerian authorities to immediately open an independent and thorough investigation into the incident.
Nigeria has signed a Memorandum of Understanding with Jordan on defence cooperation and intelligence sharing.
According to the Minister of State for Defence, Bello Matawalle, the agreement was signed in Amman, Jordan, during a meeting with the Chairman of the Joint Chiefs of Staff of the Jordanian Armed Forces, Major General Yousef A. Alhnaity.
Matawalle said that the partnership is aimed at strengthening collaboration between both countries in tackling evolving security threats, especially crimes and attacks that are asymmetric and cross-border in nature.
He added that the agreement reflects the commitment of President Bola Ahmed Tinubu’s administration to promoting peace, security, and stability across the country through strategic
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