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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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Traders Raise Alarm Over Circulation Of Counterfeit In Borno

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Traders at the Kwaya Kusar Grains Market, Kwaya Kusar Local Government Area (LGA) of Borno have raised an alarm over the circulation of counterfeit N1,000 notes in circulation.

A cross-section of the traders raised their concern in separate interviews with the News Agency of Nigeria(NAN) in Kwaya Kusar community on Saturday.

According to them, the issue is not limited to Kwaya Kusar market but cuts across other markets in Biu and Bayo LGAs, where they normally buy their commodities depending on their market days.

They said that the issue was affecting their businesses and sabotaging the economic activities at the markets, while eroding trust between traders and their customers.

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Malam Ibrahim Yusuf, a grain trader from Gombe main market who came to Kwaya Kusar market to buy maize, said he had been a victim of fake currency notes twice.

“About three weeks ago, I went to Biu grain market to buy some bags of maize, and I was given four pieces of fake N1,000 notes, and I didn’t realise until I was in transit.

“It was when I was about to pay the driver that I saw one new N1,000 note that was very light and felt unusual in my hand, and I suspected it was fake. ”

He said he immediately called the person who gave him the currency to complain after discovering three other pieces of such notes in the cash he withdrew.

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“My profit is not much, as I make between N3,000 and N4,000 per bag after taking out transportation cost.

“Now I bought three bags, meaning I am expecting roughly N12, 000 but now I have N4,000 counterfeit notes, which means my profit margin has been reduced, ” he said.

He said government and relevant authorities should visit the various markets in Biu, Kwaya Kusar and even Shani rural markets to mop up these counterfeit notes and find the source.

“This is highly imperative, especially now that farmers have started harvesting their produce, which will surely increase the volume of trade in the markets.

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“Urgent action from relevant agencies is necessary to protect traders from making huge losses,” Yusuf said.

Also speaking, Alhaji Hassan Mai-Dawa said he was once a victim of fake N1,000 notes, which he collected from one of the POS operators in Kwaya Kusar.

He said it was when he went to deposit the money in the bank that the notes were discovered to be fake.

Mai-Dawa said many of the traders don’t collect transfers, so he had to withdraw from POS to be able to buy his goods.

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“I think this is something the government should come in because I also faced similar issues in Biu market.

“Many traders do not know the difference; so, we use the fake note alongside the original ones,” he said.

Mrs Hauwa Aminu, a rice trader, said she often noticed some unusual new N1,000 notes inside her cash, but she never really bothered because people collect them from her.

Aminu recounted an incident where she almost fought with a buyer who needed a refund after depositing cash the previous day.

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“I gave him the cash I had, and he rejected some of the notes, but I insisted that I am not the one printing them.

“It was an intense argument, and since then, that buyer never came back to my shop to buy from me, ” she said.

Aminu, however, appealed to the government to send its officials to some of the rural markets to monitor and make necessary arrests to protect traders.

Others who spoke to NAN but did not want their names mentioned also lamented their ordeals because they could not identify the counterfeit notes from original ones.

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They called for massive sensitisation to enable local traders to identify counterfeit notes to protect their businesses.

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At 71, Nigerian Man Enrolls at UI Law School: Here Is Why He Did It

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Not resting on his oars, 71-year-old Dr. Bolaji Ojo-Oba has proven right the age-old axiom that age is not a barrier to learning. Recently, Dr. Ojo-Oba went viral across various social media platforms, especially on TikTok. A video shared by his daughter, Rihanot Ojo-Oba, showed the septuagenarian sitting in class alongside his fellow colleagues.

Earlier this year, he was among the 4,430 newly admitted students for the 2025/2026 academic session at the University of Ibadan. He was formally matriculated during the university’s official ceremony in March 2026.

Studying at an advanced age in Nigeria is a powerful testament to lifelong learning, defying cultural stereotypes and proving that the quest for knowledge has no expiration date. According to him, he returned back to study law because of his lifelong ambition goal and the impact of a prolonged legal battle during his tenure at the Nigeria Football Federation (NFF).

Dr. Ojo-Oba’s illustrious career spans several decades, during which he has demonstrated exceptional leadership, versatility, and expertise. Ojo-Oba, who hails from Ibadanland, was born on 7 January, 1955. Last year, he marked his 70th birthday anniversary amid pomp and ceremony.

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He obtained his first degree in French from the University of Lagos and earned a Master’s in the same discipline from the same university. He later earned his Master’s and Doctorate in Sports Administration from the University of Ibadan.

A cursory look at Ojo-Oba’s intimidating and enriching profile reveals a man who did not stumble on stardom by accident, but intricately sketched his way to the top. It was a hard climb, assisted by perseverance.

Ojo-Oba started his career in the civil service in 1989 as a Senior Bilingual Secretary of the NSC. He became the Head of NFA’s International Competitions Department from 1990 to 1992, before later becoming the Head of Department of Competitions from 1992 to 1995.

Ojo-Oba later became NFA’s Head of Marketing and Sponsorship Department in 1995, before becoming an officer in the Federal Ministry of Youth and Sports Planning till 1997. He later served as the Commissioner for Information, Youth, Sports and Culture in Oyo State from 1997 to 1999.

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Ojo-Oba later rose to the post of an Assistant Director in the Federal Ministry of Sports And Social Development from 2004 to 2005. He subsequently served as Secretary-General of the Nigeria Football Federation (NFF) from January 15, 2007 to July 26, 2010.

He was for many years a security chieftain for both the Confederation of African Football (CAF) and FIFA, which he served meritoriously. Throughout his career, Dr. Ojo-Oba has exhibited a commitment to excellence, serving in various capacities, especially as a member of the Fédération Internationale de Football Association (FIFA) Committees.

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British-Nigerian Businessman Dies After Penis Enlargement Procedure in Thailand

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A 43-year-old British-Nigerian businessman and social media influencer, Igho Ubiribo, has died after undergoing a penis enlargement procedure while on holiday in Thailand with his wife.

An inquest at Inner West London Coroners’ Court heard last month that Ubiribo died in March after receiving 40-millilitre injections of hyaluronic acid and lidocaine at a clinic in Bangkok.

According to the *Daily Mail*, Ubiribo began experiencing chest pain and lost consciousness twice while receiving a massage with his wife, Danielle Simba Allen, following the procedure.

He was rushed by ambulance to Sukhumvit Hospital, where doctors identified a pulmonary embolism—a blood clot blocking a vessel in the lungs. He lost consciousness again before a recommended CT scan could be performed.

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Medical staff attempted to resuscitate him for more than 100 minutes, but he was pronounced dead in the early hours of March 6.

A postmortem conducted in the UK revealed that cellular material found in Ubiribo’s lungs matched the hyaluronic acid used in the penile filler injection, confirming the diagnosis of a pulmonary embolism.

Coroner Jean Harkin concluded that Ubiribo died “as the result of a cosmetic procedure abroad,” recording the official cause of death as a pulmonary embolism resulting from the hyaluronic acid injection.

The *Daily Mail* reported that Ubiribo, who had approximately 185,000 Instagram followers, was laid to rest in London in May. His funeral was attended by Nigerian musician Davido and several other prominent figures.

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Medical professionals have long warned against penile filler procedures. Professor Vaibhav Modgil, an NHS andrology specialist and consultant urological surgeon, noted that such procedures carry severe risks and can lead to devastating consequences for patients.

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