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Alleged money laundering: Reps invite Binance CEO, threatens to effect an arrest if…

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… 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.

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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.

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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”.

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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”.

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Finally , Lagos Court frees Quadri, young Nigerian who stood before Obi’s convoy in viral photo

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The Apapa Magistrate Court, Court 9 sitting at Orege, Ajegunle – Sikiru Adagun Courthouse, has discharged and acquitted Alabi Quadri, the young Nigerian who became a national symbol of courage during the 2023 general elections, for standing boldly in front of the convoy of then-Labour Party presidential candidate Peter Obi.

He was discharged and acquitted of conspiracy to commit felony and armed robbery.

The court held that he has no case to answer.

Quadri was brought to court on Thursday, April 17, 2025, after spending months in Kirikiri Prison, Lagos.

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The Nigerian Correctional Service produced Quadri at the Apapa Magistrate Court, located at Orege, Ajegunle—Sikiru Adagun Courthouse (Court No. 9).

Quadri’s case was initially slated for a hearing on April 28, 2025.

However, human rights lawyer and activist Inibehe Effiong had revealed that both he and the Director of Public Prosecutions (DPP) requested that the date be moved forward, and the court granted the application.

Quadri gained widespread attention after a viral video showed him, a teenage boy at the time, fearlessly standing before Peter Obi’s campaign convoy—a moment many Nigerians interpreted as a symbol of youthful defiance and hope during a tense election period.

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The media reported that Effiong revealed that Alabi’s recent painful descent into the Nigerian prison system was not due to any major crime but rather a result of prolonged malice and resentment harboured by some self-acclaimed ‘area boys’ (thugs) in his neighbourhood.

According to the lawyer, these individuals felt entitled to a portion of the unexpected attention and goodwill, including financial support, that Alabi received following his moment in the spotlight during the 2023 presidential campaign.

Effiong, who recently visited the Apapa Magisterial Court in Lagos alongside Alabi’s mother and legal colleagues, stated that Alabi’s journey to Kirikiri prison was not only heartbreaking but appeared to be the outcome of a vendetta fuelled by local ‘area boys’ who felt entitled to the financial support Alabi received after his viral moment.

Effiong revealed that Alabi was abducted in January near his home while returning from work by the ‘area boys’ who had been threatening him.

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They allegedly took him to Amukoko Police Station (popularly known as Pako Police Station) and accused him of being involved in street fights.

However, Alabi was then arraigned before a Magistrate Court along with four other individuals, said to be complete strangers to him, on allegations of conspiracy to commit armed robbery with cutlasses.

According to the charge sheet, the alleged victims were robbed of N579,000, comprising cash and four mobile phones.

Effiong also emphasised that despite being a minor, Alabi had been detained with adults at Kirikiri since January, pending legal advice from the Lagos State Directorate of Public Prosecutions (DPP).

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Lawmaker Slams NBA Over Rivers Crisis, Demands Return of N300m

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By Gloria Ikibah
A member of the House of Representatives from Rivers State, Hon. Solomon Bob has taken a swipe at the Nigerian Bar Association, accusing it of insincerity, hypocrisy and “misguided praetorian pretentions” following the association’s condemnation of the state of emergency in Rivers State in another statement on Thursday 10th April.
Recall that President Ahmed Bola Tinubu had on 18th March issued a proclamation declaring a state of emergency in Rivers State after a prolonged crisis involving Governor Siminilayi Fubara and the Martin Amaewhule-led House of Assembly loyal to Minister of the Federal Capital Territory, Chief Nyesom Wike.
The crisis had assumed a dangerous dimension following a fresh impeachment move against the governor, leading to the blowing up of petroleum infrastructure amid threat to violence and social unrest before the president stepped in.
The president’s proclamation was followed two days later by the National Assembly’s ratification as required by section 305 of the constitution.
Justifying the declaration of a state of emergency in his home state in a statement made available to news men on Thursday, Hon. Bob said the NBA “cannot circumscribe or amend the clear untrammelled and discretionary powers granted the President by Section 305 of the constitution.
“Neither is the NBA in a position to interpret or determine what measures qualify as extraordinary – which the President is required to adopt under the same section”
The lawmaker stated further that the NBA does not have “the jurisdictional competence or ethical example to be a barometer for measuring democracy and constitutionalism.”
He claimed that an association of lawyers, which should be a model of democratic participation, has become a cartel for pursuing narrow interests to the point where the NBA is “unable to organise its elections based on the principle of universal franchise, devoid of zoning.”
Hon. Bob said that since after the fiasco of the 1992 conference, “so-called NBA elections are no more than predetermined coronation of regional or even ethnic hegemons”
While also describing the NBA’s statement as a distraction, the federal lawmaker stated further: “Having witnessed Fubara’s dangerous and incomparable incompetence first-hand, and the embarrassing diminution his actions have exposed my state to, I consider the statement arrogant and a gratuitous insult.”
He charged the NBA of “rank hypocrisy and insincerity because it stood idly by without a whimper when suspended governor Siminilayi Fubara exhibited the type of crass lawlessness and wanton irresponsibility never before seen in any state in Nigeria.”
Hon. Bob said that NBA’s priorities lay elsewhere. He claimed that “the NBA had got itself entangled in a sweetheart deal with Fubara, a quid pro quo, and it was set to use the Port Harcourt conference to whitewash the worst misgovernment of any state in Nigeria.”
He further stated that NBA’s statement on the Rivers situation carefully concealed their pecuniary interest and only belatedly admitted receiving a huge advance payment from Fubara after the authorities in Port Harcourt exposed the deal by publicly demanding a refund of the money.
He said NBA’s grudging claim that the sum of three hundred million naira was a gift is unreasonable and unbecoming of a “self-appointed ombudsman”, and proof that they were engaged in a relationship of compromise with Fubara.
He demanded that the money be returned to the coffers of the Rivers State government, failing which the authorities in Port Harcourt should take every necessary step to recover same.
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BREAKING: Unknown gunmen reportedly storm Senator Natasha’s family residence

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Senator Natasha Akpoti-Uduaghan’s family residence in Kogi was reportedy invaded by gunmen around 1 a.m. on Tuesday, April 16, leaving damaged windows but no injuries.

The incident happened at her hometown residence in Obeiba-Ihima, located in Okehi Local Government Area of Kogi State.

Sources familiar with the event said the attackers arrived around 1:00 a.m. Armed with cutlasses and guns, they damaged parts of the building, smashing windows and causing panic in the area. At least three men were involved in the attack.

Senator Natasha’s Chief Security Officer, Yakubu Ovanja, quickly informed the appropriate security agencies.

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In response, officers from the Okehi Police Division rushed to the scene.

Although nobody was hurt and no suspects have been arrested yet, security officials recorded the extent of the damage and launched a preliminary investigation.

The reason behind the attack is still unknown, and as of now, Senator Akpoti-Uduaghan has not released any official statement. She represents Kogi Central in the Senate and is known as a vocal figure in Nigerian politics.

According to Zagazola Makama, police are still trying to figure out what motivated the attackers and are working to find those responsible.

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