News

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

Published

9 months ago

March 4, 2024

Gloria Ikibah

…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.

News

Acting COAS Oluyede Commits To Achieving Lasting Peace In Nigerian

Published

10 minutes ago

November 27, 2024

Gloria Ikibah

By Gloria Ikibah

The Acting Chief of Army Staff, Major General Olufemi Oluyede, has assured Nigerians of his commitment to achieving lasting peace across the nation if confirmed in a substantive capacity.

Oluyede stated this when he appeared before the House of Representatives Joint Committee on Defence and Army at the National Assembly Complex in Abuja on Wednesday.

Addressing the committee, Oluyede emphasized the importance of collective efforts in tackling the country’s security challenges, and noted that every Nigerian has a role to play in ensuring peace. He also highlighted the necessity for robust alliances with neighboring countries and strengthened collaboration among security agencies.

He said: “I am honored this evening to be considered worthy to play a part in these efforts, and I look forward to contributing my utmost best by working with the National Assembly and other stakeholders in bringing lasting peace to the length and breadth of our dear country, Nigeria.

“I humbly appear before you today to be confirmed as the 24th Chief of Army Staff of the Nigerian Army. This opportunity has arisen due to the tragic passing of the 23rd Chief of Army Staff, Lieutenant General Taoreed Lagbaja, after a brief illness.”

Oluyede recounted his recent appointment as Acting Chief of Army Staff, explaining that it was initially intended to be temporary.

“Before his passing, I had been appointed by Mr. President, His Excellency Bola Ahmed Tinubu, to act in his place, pending his expected full recovery and resumption of duty. Following Lieutenant General Lagbaja’s demise and state funeral on 15 November 2024, Mr. President, in his wisdom, deemed me worthy to fully continue the excellent work being done by the Army, subject to confirmation by the National Assembly,” he said.

With over 30 years of service in the Nigerian Army, Oluyede assured the committee of his preparedness for the role.

“My exposure to national security issues at the junior, middle, and senior cadres of the military profession has prepared me adequately for this assignment. In the past five years, I have operated at senior operational and management levels of the Nigerian Army, gaining insight into its overall functioning,” he stated.

Acknowledging both the achievements and setbacks of the Army in recent years, the Acting COAS pledged to lead with a vision for positive change if confirmed; this is as he underscored the need for unity in addressing Nigeria’s security issues.

“I see my nomination as a privileged opportunity to bring about more positive changes to the Nigerian Army, enabling it to fulfill its constitutional responsibilities. If confirmed, I promise to justify the confidence reposed in me by Mr. President, the National Assembly, and the Nigerian people.

“The security environment in which we find ourselves as a nation requires a united effort from every Nigerian. We also need strong bilateral and multilateral alliances with our neighbors and enhanced collaboration among security agencies,” he said.

He commended President Tinubu’s administration for its efforts in creating a secure environment conducive to socioeconomic development, and stressed the importance of tactical air support for the Army.

“Aircrafts have different strata of employment. The air support we require as an army is at the tactical level, where aircraft are readily available during combat operations. The Air Force, being the main player in this sphere, provides strategic cover. We need tactical aircraft and an air wing to support our operations effectively,” he explained.

Oluyede reaffirmed his commitment to fostering cooperation among the Armed Forces, noting that such synergy is essential for improving security and promoting socioeconomic development.

“There is already robust cooperation between the Armed Forces, and I intend to enhance this to ensure better outcomes for Nigeria,” he added.

During the screening, Chairman of the House Committee on Defence, Rep. Babajimi Benson, addressed the evolving security challenges facing Nigeria.

He said: “Our country continues to grapple with an evolving spectrum of security threats, ranging from insurgency and banditry to communal clashes and cyber threats. For over a decade, the Armed Forces of Nigeria have been at the forefront of addressing these challenges, launching numerous operations and providing vital support to internal security efforts,” Benson said.

He commended the Armed Forces for their recent successes, and acknowledged the need for sustained efforts to achieve peace.

“It is clear that more work remains to be done to achieve sustainable peace across all regions of the country,” he said.

The Chairman emphasized the importance of adopting innovative strategies to address modern security threats.

“The current dynamics of global security demand innovative and adaptive strategies. Threats are no longer confined to traditional battlefields; they now extend to cyberspace, economic domains, and even the socio-political fabric of nations. We must prioritize a forward-looking approach to national defense, ensuring that our military is well-equipped and adequately trained to address both conventional and emerging threats,” he stated.

The chairman further highlighted the role of the National Assembly in supporting the Armed Forces.

“Our task today is not only to assess the qualifications and vision of the nominee for Chief of Army Staff but also to establish a collaborative roadmap for tackling Nigeria’s security challenges. As partners in the pursuit of a secure and prosperous Nigeria, we remain steadfast in our commitment to legislative oversight and support for the Armed Forces,” he said.

Benson also assured the committee’s dedication to ensuring accountability and transparency in military operations.

“We will continue to provide the necessary legal frameworks, advocate for adequate funding, and monitor the implementation of appropriations. The position of Chief of Army Staff carries immense responsibility, and the individual in this role must lead with integrity, professionalism, and a deep commitment to the protection of lives and property,” he noted.

He therefore urged Oluyede to foster synergy among security agencies and prioritize the welfare of troops.

“If confirmed, you will be expected to foster synergy among security agencies, prioritize the welfare of troops, and uphold the trust of Nigerians. This committee will ask questions that reflect the concerns of our constituents and the nation. We urge you to provide comprehensive and candid responses to guide our deliberations,” Benson said.

Rep. Benson expressed optimism about Oluyede’s potential contributions to national security.

“Your role is pivotal in Nigeria’s journey toward lasting peace and stability. We look forward to working with you to achieve this goal,” he said.

The outcome of the screening exercise will be reviewed and presented to the House during plenary on Thursday.

News

Court fix Dec 10 to decide ex-Gov Bello’s bail

Published

5 hours ago

November 27, 2024

Naijablitznews

By Francesca Hangeior

The High Court of the Federal Capital Territory sitting at Maitama on Wednesday remanded the immediate past Governor of Kogi State, Alhaji Yahaya Bello, in custody of the Economic and Financial Crimes Commission, EFCC.

Trial Justice Maryann Anenih ordered that he should remain with the anti-graft agency till December 10, when the court will rule on his application for bail.

Equally remanded in custody were Bello’s two co-defendants, Umar Oricha and Abdulsalami Hudu.

The defendants had pleaded not guilty to a 16-count charge the EFCC preferred against them.

EFCC had specifically urged the court to deny the former governor bail.

The agency, through its team of lawyers led by Mr. Kemi Pinheiro, SAN, told the court that Bello, who is the 1st defendant in the matter, repeatedly refused to make himself available for trial.

It told the court that several efforts to secure his presence before the Abuja Division of the Federal High Court, where he is facing another charge, proved abortive.

Consequently, the Commission opposed a bail application that Bello filed through his legal team that was led by a former President of the Nigerian Bar Association, NBA, Mr. Joseph Daudu, SAN.

Daudu, SAN, had after the former governor and his two co-defendants—Umar Oricha and Abdulsalami Hudu—pleaded not guilty to a 16-count charge the anti-graft agency preferred against them, drew the attention of the court to a bail application his client filed on November 22.

In the application he predicated on six grounds, the former governor argued that he enjoys the presumption of innocence under the law.

News

Port Harcourt Refinery operations will tackle fuel scarcity – Reps

Published

5 hours ago

November 27, 2024

Naijablitznews

By Francesca Hangeior

The Chairman of the House of Representatives Committee on Petroleum Resources (Midstream), Hon. Prince Henry Odianosen Okojie, has emphasized the significant impact of the Port Harcourt refinery’s commencement of operations, describing it as a major step towards resolving fuel scarcity in Nigeria and improving the lives of its citizens.

Hon. Okojie commended President Bola Ahmed Tinubu and the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, for their commitment and efforts in actualizing the project. Speaking with journalists in Abuja, he stated:

“We are thrilled to express our appreciation to President Bola Ahmed Tinubu and the Group Chief Executive Officer of the NNPCL, Mele Kyari, for their tireless efforts in ensuring the Port Harcourt Refinery commences production.

We are grateful to them for making this project a reality. This monumental achievement marks a significant milestone in Nigeria’s journey towards energy independence and economic growth. Their contributions to Nigeria’s energy sector will have a lasting impact on the country’s economic development.*

“We commend President Tinubu’s leadership and vision, as well as Mele Kyari’s dedication and expertise, in driving this transformative project forward. Their commitment to strengthening Nigeria’s refining capabilities is truly commendable. This is a testament to the hard work and collaboration of all stakeholders involved.”

Representing Esan North East/Esan South East Federal Constituency of Edo State, Hon. Okojie pledged his commitment to fostering the growth of Nigeria’s petroleum industry. He assured that legislators are determined to tackle challenges in the sector for the nation’s benefit and citizens’ welfare.

Backing President Tinubu’s policies for the development of the oil and gas sector, Hon. Okojie expressed confidence in the administration’s plans for economic prosperity and infrastructure development. He also assured that the House Committee would continue to provide the legislative support necessary to advance the sector.