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Financial Crimes: Reps To Issue Warrant Of Arrest On Binance Chief Executive For Refusal To appear

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…as legal adviser say two executives were arrested by NSA
By Gloria Ikibah
The House of Representatives had said it will evoke its constitutional powers against Binance Holdings Limited and issue a warrant of arrest for its failed to appear for public hearing to respond to series of allegations of terrorism,  money laundry,  tax invasion among other financial crimes.
This was the resolution of the House Committee on Financial Crimes Chaired by Rep. Obinna Ginger, at its resumed investigative hearing on Monday in Abuja.
Naijablitznews.com recalled that a coalition of civil society organisations led by the Niger Delta Youth Council Worldwide and Empowerment for Unemployed Youths has written a petition against Binance Holdings Limited in January to investigate the firm’s activities.
The Committee had summoned the Managing Director of Binance, Richard Teng in a letter dated 12th December, 2023 and signed by its chairman, Rep. Ginger Onwusibe requesting his appearance at the hearing.
However, instead of the Management team of the Company to appear before the House Committee as required by law, a team of lawyers was sent, but were told by the committee that their representations will not be accepted.
Rather than appear before the committee Binance wrote through it’s lawyer Senator Ihenyen.
Speaking during the public hearing, in Abuja on Monday, the committee chairman, decried that the Chief Executive of Binance Holding limited, Mr Richard Teng has refused to appear before the committee after series of invitations.
Lawmaker stated that there was need to report to the larger House to evoke its constituonal powers for the arrest of Binance Executive.
Rep. Dogongaro therefore moved a motion for the committee to report to the larger house to enable it use its powers to arrest Binance Executives and make them appear before the committee.
The Chairman put it to a vote and it was unanimously adopted by committee members.
Rep. Ginger Onwusibe, while restating the resolve of the Committee to fight financial crimes maintained that, “the committee will be forced to recommend to the House to arrest Binance executive since they have failed to appear before the committee.
“As long as the committee is concerned,  Binance is not at this meeting because we have said it severally that we do not want representation by lawyers but the chief executives should appear before the committee.
“Binance is not here. We have taken a position on it in our last sitting that we are not going to entertain legal representation from Binance and that position stands.
“Based on the fact that Binance is not here, we need to make a recommendation to the House of Representatives for the House to invoke its powers of subpoena to issue a warrant for the leadership of Binance to be arrested and be brought to this Committee to answer questions of the grave allegations leveled against them in the petitions brought to us by the Empowerment for Unemployed Youths and Niger Delta youths Council.
“This Committee has resolved to recommend to the House to invoke its constituonal powers by issuing a subpoena and a warrant for Binance executives to be arrested and brought to this Committee to answer these questions relationship financing of terrorism, money laundering and other financial crimes as stated in the petition including evasion of tax.
“We thanks the petitioners for unearthing this grievous financial crimes going on in this country for more than six years now. Binance has been operating in the financial space of this country for more than six year and they have not less than 20 million Nigerians that they are exploiting.”
Earlier in his response, the legal team of Binance led by Senator Ihenyen who’s representation was rejected said Binance executives did not appear before the committee because two other executives of the organisation were arrested upon their arrival to Nigeria by the office of the National Security Adviser and still in custody.
According to him, other executives of the company which is not based in the country, were apprehensive because of two of their executives that were arrested recently and are still in custody.
He said: “Indeed we acknowledge that our client Binance was clearly given the time within it must respond to the petition as well as appear today before this committee
“Binance has been able to response to send a written responds dated 28 February 2024.
“The response to the petition attaches two annexures for purpose of fully responding to the issues and allegations raiswd by the petitioners in their written petition dated 5th December 2023.
“The second resolution was that Binance representatives must be here. We would like to plead your indulgence that the situation that Binance has been faced with particularly in the last seven days have forced a very difficult situation on it. What has happened is that two Binance executives who came into the country were arrested by another Nigerian authority specifically the National Security Adviser. And since then till date this two Binance executives are still in custody. For this reason it has been extremely difficult for the global of Binance to mobilize other executive members of the company to Nigeria because there is genuine concern about their safety and security. So this is the situation that we have been forced to contend with. This is not a show of any disrespect to this House
“We believe the responses given by our clients would to a large extent address any outstanding issues or issues raised by the petitioners. If there are any outstanding areas that Binance has to respond to either by being in Nigeria physically or by making further written correspondence, we will do our best as legal counsel in Nigeria to advice Binance to proceed accordingly subject to the discretion of this House.
When asked by Rep. Ginger if those two arrested were coming to respond to the invitation of the committee or for another invitation.
He responded” As the legal counsel to Binance, we have information that Binance was planning to have Representatives on the ground but at time these two persons were arrested, it had not been expressly communicated to us that these two persons are the delegates for that purpose.
“We are aware there are quite a number of executives spaning the region of Europe, America and Asia in the Binqnce team. It is possible that one of these persons who was arrested or none of these persons were going to be delegates to this Honourable House today.
“Following the arrest of two executive,  other persons could could not come into Nigeria because if the first if been arrested too.
“Binance has responded appropriately to the demands of the committee and as our client we are pleading that this honorable committee consider taking the report”, he added.
Naijablitznews.com reports that Binance Holdings Limited, operators of Digital Assets Exchange in Nigeria has been operating in Nigeria over 6 years allegedly without any adherence to financial regulatory frameworks and has been accused of exploiting Nigerians and committing other financial crimes.
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Kogi varsity expels two students over gay practice, rusticates four for fighting

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The Management of Confluence University of Science and Technology, Osara, has expelled two students for alleged involvement in gay practice and rusticated four others for one academic session over a campus fight.

According to a statement issued on Friday by the university’s Information and Protocol Unit, the sanctions were ratified during the 31st Regular Meeting of the University Senate following recommendations from the Students’ Disciplinary Committee.

The statement read, “The Management of Confluence University of Science and Technology (CUSTECH), Osara, has approved the expulsion of two students for involvement in gay practice and the rustication of four others for one academic session over acts of fighting on campus.”

The affected students were notified in letters signed by the Deputy Registrar, Academics, Eli Gbadafu, copies of which were made available to the Information, Public Relations and Protocol Unit of the university.

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The statement further read, “The institution stated that the disciplinary actions were taken in accordance with the provisions of the Students’ Handbook, Second Edition, as amended in 2025.”

Onumoko Hamza of the Biology Education department and Abdulazeez Eneji of the Mining Engineering department were expelled over gay practice.

Four other students were rusticated for one academic session over fighting. They are Favor Akowe of the Microbiology department, Simbiat Babamuharuna of the Biology department, Zainab Omayoza of the Biochemistry department, and Sukura Bukola, also of the Biochemistry department.

The statement read, “The University Management reiterated its commitment to maintaining discipline, order and a conducive environment for teaching and learning.”

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It added, “Management warned that it would not hesitate to take decisive disciplinary action against any student found guilty of violating the rules and regulations of the University.”

The statement read further, “Students are therefore advised to familiarise themselves with the provisions of the Students’ Handbook and conduct themselves in accordance with the established rules and regulations of the University.”

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CAN faults FRSC amendment bill, seeks Tinubu’s intervention

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The Christian Association of Nigeria (CAN) in the South-West region has appealed to President Bola Ahmed Tinubu to withhold assent to the proposed Federal Road Safety Corps (FRSC) Act (Amendment) Bill, 2026.

The Senate had passed an amendment to the FRSC Act, proposing tougher penalties for a range of traffic offences as part of efforts to improve road safety and strengthen compliance with traffic regulations.

One of the major provisions of the amendment bill introduces a N100,000 fine for motorists who fail to obey traffic lights, road signs, road markings, or other traffic control devices.

In a statement signed by its Chairman, Bishop Dr. Barnabas Tunde Akinsanya, CAN said it supports the Federal government’s efforts to improve road safety and reduce accidents.

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It explained that it is concerned about the provisions prescribing sanctions for preaching in commercial buses and prohibiting hawking in such vehicles.

The association further argued that the measures could also infringe on the constitutional rights to freedom of thought, conscience, religion and expression.

According to the association, although the government has a responsibility to protect lives and ensure public safety, it must also uphold the fundamental rights guaranteed under the Constitution.

“We therefore respectfully appeal to the President of the Federal Republic of Nigeria to withhold assent to the Bill in its present form and encourage further consultation with relevant stakeholders, including religious bodies, civil society organisations, legal experts, transport unions, and road safety professionals.

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“Such dialogue will help produce legislation that effectively promotes road safety while preserving the constitutional rights and dignity of every Nigerian,” the statement said.

The association also warned that an outright ban on hawking in commercial buses could worsen the economic hardship facing many Nigerians who rely on informal trading for their daily livelihood.

Rather than introducing measures that could further reduce people’s means of survival, CAN urged the government to focus on creating employment opportunities, reducing poverty, improving public transportation, strengthening security and enhancing citizens’ welfare.

The Christian body appealed to President Tinubu to decline assent to the bill in its current form and instead facilitate broader consultations involving religious organisations, civil society groups, legal experts, transport unions and road safety professionals.

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It maintained that such engagement would help produce legislation that enhances road safety without undermining the constitutional rights and dignity of Nigerians.

CAN stressed that Nigeria needs laws that promote national unity, safeguard lives without unnecessarily restricting fundamental freedoms, and strengthen public confidence in democratic governance.

The association, however, reaffirmed its commitment to constructive engagement with government to advance justice, peace, constitutional democracy and national development.

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Court Of Appeal Upholds Refusal To Restrain NCC, Dismisses COSON’s Appeal

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The Court of Appeal, Lagos Judicial Division, has dismissed an interlocutory appeal filed by the Copyright Society of Nigeria Ltd/Gte (COSON) against the Nigerian Copyright Commission (NCC), affirming an earlier decision of the Federal High Court refusing to grant an injunction restraining the Commission.

In a unanimous judgment delivered on July 9, 2026, the appellate court also awarded ₦200,000 in costs against COSON.

According to a statement on Saturday, the three-member panel, led by Justice Polycarp Terna Kwahar, with Justice Folasade Ayodeji Ojo and Justice Muslim Sule Hassan concurring, held that there was no existing operating approval that could be preserved through an interlocutory injunction.

The appeal stemmed from COSON’s substantive suit challenging aspects of the Copyright (Collective Management Organisations) Regulations, 2007.

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Pending the determination of the case, COSON had sought an interlocutory injunction restraining the NCC from revoking its operating approval or interfering with its management, finances, bank accounts, audits and royalty collection activities.

However, the Federal High Court, in a ruling delivered on December 1, 2021, declined the application, holding that an interlocutory injunction cannot be granted to restrain an action that had already been completed.

The court noted that COSON’s operating approval had been suspended by the NCC in April 2018 and subsequently expired in May 2019, before the substantive suit and the application for injunction were filed.

In affirming the lower court’s decision, the Court of Appeal ruled that the legal status existing before the commencement of the suit was that COSON’s operating approval had already become inoperative.

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Justice Kwahar, in the lead judgment, stated: “Both the Appellant and the Respondent have demonstrated vide their affidavit evidence that the Appellant’s operation had prior to the commencement of the suit become inoperative by virtue of the suspension of the Appellant’s licence and expiration by effluxion of time. That is the status quo ante bellum before the commencement of the suit at the lower Court.”

The appellate court emphasized that the purpose of an interlocutory injunction is to preserve the status quo pending the determination of a substantive case, not to reverse actions that had already taken effect before litigation commenced.

It therefore held that granting the relief sought by COSON would have altered, rather than preserved, the existing legal position, and consequently dismissed the appeal for lacking merit.

Reacting to the judgment, the Nigerian Copyright Commission described the ruling as a reaffirmation of its position that there was no subsisting operating approval for the court to preserve through an injunction.

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The Commission further reiterated that COSON is currently not approved to operate as a Collective Management Organisation (CMO) in Nigeria.

The judgment is regarded as a significant legal victory for the NCC, reinforcing the Commission’s regulatory authority over collective management organisations and clarifying the legal limits of interlocutory injunctions in disputes involving expired or suspended regulatory approvals.

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