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Alleged money laundering: Reps invite Binance CEO, threatens to effect an arrest if…
… nobody shows up on Monday
The Nigerian House of Representatives has invited the Chief Executive Officer (CEO) of Binance Holding Limited, Richard Teng to appear before the House Committee on Financial Crimes.
The House of Representatives summoned the Binance CEO over allegations bothering on terrorism financing, money laundering and tax evasion.
The House Committee on Financial Crimes, chaired by Ginger Onwusibe last Friday 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 trade cryptocurrencies, has been flagged by the Central Bank of Nigeria (CBN) to have been involved in money laundering amongst other sundry allegations.
Onwusibe, however, warned that the committee will be forced to invoke its constitutional powers to take appropriate measures if Teng or any representatives of Binance fails to heed the invite.
The committee chair decried the refusal of Binance CEO to appear after a series of invitations.
He stressed the invitation was for Teng to brief the committee on issues relating to the total disregard for extant laws governing business and financial operations in Nigeria.
The committee had summoned the Managing Director of Binance, in a letter dated December 12 2023 and signed by its chairman, Onwusibe requesting a hearing on December 18, 2023.
Onwusibe, while restating the resolve of the committee to fight financial crimes maintained that “the constitution of the Federal Republic of Nigeria has empowered us to protect Nigerians from financial crimes, especially by foreign companies.
“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”.
Onwusibe went further to say: “It is also our duty to do everything in our power to protect Nigerian investors from predatory firms, and no distraction and manipulation can stop us.
“You cannot run a company with over 10 million Nigerians on your platform without paying tax and having a physical office where Nigerians can lodge their complaints when they experience any challenge with your service.
“The era of exploitation is over and all culprits must be held accountable”.
News
Reps Pass Bill to Establish More Specialist Eye Care Centres in Nigeria
By Gloria Ikibah
The House of Representatives at the plenary on Wednesday passed through second reading, a Bill seeking to amend the National Eye centre Act, 2004, to provide for the establishment of more specialist eye care centres.
The proposed legislation was sponsored by the Deputy Speaker of the House of Representatives, Hon. Benjamin Okezie Kalu, Hon. Babajimi Benson and 5 other lawmakers.
Leading the debate on its general principles, Kalu noted that the bill seeks to enhance access to qualitative eye care services across the six geo-political zones of the nation.
According to him, the proposed amendments seek to address the pressing need for more specialist eye care centres to cater for the growing population and address the rising cases of eye diseases in the country.
Making reference to reports, he lamented that preventable and treatable eye conditions are a leading cause of disability in Nigeria, with cataracts, glaucoma, and refractive errors remaining prevalent in many parts of the country, especially the rural areas where access to specialized care is limited.
He expressed optimism that the proposed amendments will rectify this situation by expanding the establishment of National Eye Centres to strategic locations across the six geopolitical zones of the country.
He added that by doing so, we aim to provide a framework that will enhance and improve access to quality eye care, ensuring that no Nigerian is left behind due to geographical barriers.
Kalu said, “I rise to lead the debate on the general principles of a Bill for an Act to amend the National Eye Centre Act, Cap N38, Laws of the Federation of Nigeria, 2004, which seeks to enhance access to qualitative eye care services across the six geo-political zones of our beloved nation. The proposed amendments seek to address the pressing need for more specialist eye care centres to cater for the growing population and address the rising cases of eye diseases in the country. The Bill was read for the first time on Wednesday, 20thDecember, 2023.
“As we are all aware, access to quality healthcare services, especially in specialised areas like eye care, is crucial for the well-being of our citizens. The statistics reveal that preventable and treatable eye conditions are a leading cause of disability in Nigeria, with cataracts, glaucoma, and refractive errors remaining prevalent in many parts of the country, especially the rural areas where access to specialized care is limited. Unfortunately, the existing National Eye Centre in Kaduna, though commendable in its efforts, is unable to adequately meet the eye care needs of our vast and diverse nation. This inadequacy has led to disparities in access to eye care services, particularly for those in remote or underserved areas.
“The proposed amendments, thus aim to rectify this situation by expanding the establishment of National Eye Centres to strategic locations across the six geopolitical zones of the country. By doing so, we aim to provide a framework that will enhance and improve access to quality eye care, ensuring that no Nigerian is left behind due to geographical barriers. We hope to ensure that every Nigerian, regardless of location, can access quality eye care services. This is not just a matter of healthcare; it is a matter of equity and social justice. This Bill which seeks to enhance and improve access to quality eye care in Nigeria has the following key provisions.
“The creation of 5 additional Specialist Eye Care Centres spread across the remaining 5 geopolitical zones of Nigeria not originally covered by the principal legislation which only provided for an Eye Care Centre in Kaduna, North West Nigeria. The establishment of separate Boards to govern each centre and academic committees to oversee academic affairs. These bodies will not only ensure effective management and coordination of the Centres’ activities by overseeing their day-to-day operations, but shall also drive research and educational initiatives in ophthalmology, thereby fostering a culture of excellence and innovation in eye care. In presenting this bill, we are reaffirming our commitment to the visual health and well-being of every Nigerian. By establishing additional centers, we can decentralize eye care services, reduce travel costs for patients, and ultimately protect and preserve the precious gift of sight for all citizens. Honourable Colleagues, I urge you all to support this Bill as it represents a significant step towards improving healthcare delivery in Nigeria, particularly in the critical area of eye care. Together, let us illuminate the path to a future where quality eye care is not a luxury but a fundamental right for every Nigerian.”
Thereafter the bill was put to a voice vote by the Speaker, Rt Hon Tajudeen Abass, GCON who presided over the session and it was passed and referred to the committee on speciality Healthcare.
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