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Money Laundering: Court to arraign Binance executives on Thursday
By Francesca Hangeior
The Abuja Federal High Court is set to arraign Binance executives, Tigran Gambaryan and Nadeem Anjarwalla on Thursday.
Gambaryan and Anjarwalla will be charged before Justice Emeka Nwite on two separate charges.
The one filed by the Economic and Financial Crimes Commission, EFCC, which bothers on money laundering, has five counts.
The other charge, filed by the Federal Inland Revenue Service, FIRS, has four counts, in which they were accused of sundry tax infractions.
Anjarwalla who escaped custody on March 22 will be arraigned before Justice Nwite in absentia.
In its charge filed on March 28, the EFCC accused Binance executives of laundering about $35,400,000.
The defendants, in count one of the charges, are alleged to have, between January 2023 and January 2024 in Abuja, carried out the specialised business of other financial institutions without a valid licence.
The EFCC said the act constitutes an offence contrary to Section 57(1) and (2) of the Banks and Other Financial Institutions Act (BOFIA) 2020 and was punishable under Section 57(5) of the same Act.
In the charge by the FIRS, marked: FHC/ABJ/CR/115/2024 filed on March 22, the defendants were alleged to have committed the offence on or about February 1 this year.
In count one, the defendants are accused of failing to register with the FIRS to pay all relevant taxes while carrying out and offering services to subscribers on their platform (Binance).
The FIRS said the act constitutes an offence punishable under Sections 8 and 29 of the Value Added Tax (VAT) Act of 1993 (as Amended), Section 40 of the FIRS Establishment Act, 2007 (as amended) and under provisions of Section 94 of the Companies Income Tax Act (as amended).
On March 18, Justice Nwite had ordered Binance to provide the EFCC with a comprehensive data or information of all those trading on its platform from Nigeria.
The judge granted the interim order in a ruling on an ex-parte motion filed by EFCC’s lawyer, Ekele Iheanacho.
The judge said the interim order was to enable the EFCC to investigate its claim that money laundering and terrorism financing activities were being allowed on Binance’s platform.
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SAD! 17 children d!e, 17 others !njured in Zamfara school f!re incident
By Kayode Sanni-Arewa
No fewer than 17 Almajiri students have lost their lives in a fire incident which occurred in the Kaura-Namoda Local Government Area of Zamfara State, as a fire outbreak at an Islamiya school.
The fire which started late on Tuesday night and raged for about three hours left 17 others injured.
A resident of the area, Abdulrasaq Kaura, informed Channels Television that the fire was reportedly caused by stored sticks, locally known as “Kara.”
Kaura said, “It happened at Makaranta Mallam Ghali, inside their study hall. There are about 100 of them in the house, after they evacuated the students, they thought none of them remained inside the house, it was when they returned after the fire, that they started seeing their legs and hands, they got burnt beyond recognition.”
He further revealed that the deceased have been buried on Wednesday.
The Chairman of Kaura-Namoda Local Government, Mannir Haidara, also confirmed the incident.
Haidara, however, stated that he was on his way to the scene and would share more details later.
Speaking with PUNCH Online on Wednesday, the Public Relations Officer for the State Police Command, Yazid Abubakar, confirmed the incident.
Abubakar, however, noted that 17 students were killed in the fire while 17 others are receiving treatment, adding that investigation is ongoing to ascertain the cause of the fire.
He said, “Yes, the incident happened. 17 children were linked while 17 are on admission and investigation is ongoing.”
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SEDC Urges President Tinubu to Secure Nnamdi Kanu’s Release for Stability Of Southeast
By Gloria Ikibah
The House of Representatives Committee on the South East Development Commission (SEDC) has urged President Bola Ahmed Tinubu to take decisive action in facilitating the release of the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu.
The committee chairman, Rep. Hris Nkwonta, who stated this at its inaugural meeting on Wednesday in Abuja, said this was a crucial step toward fostering lasting peace and progress in the region.
Rep. Nkwonta emphasised the persistent security challenges in the Southeast, and the urgent need for resolution.
He said: “The continued detention of Kanu has fueled tensions, deepened grievances, and hindered the region’s stability”.
Rep. Nkwonta stated that the SEDC was established to address developmental disparities in the region, adding that sustainable progress can only be achieved in an atmosphere of peace and inclusivity.
He linked the Commission’s creation to the federal government’s broader agenda of Reintegration, Reconstruction, and Reconciliation (RRR), which is aimed at healing historical wounds, in particular those from the Nigerian Civil War.
“The establishment of the South East Development Commission, 54 years after the civil war, is a monumental achievement. However, true reconciliation requires more than infrastructural development—it demands addressing historical grievances and ensuring justice for all,” he added.
The chairman further noted that despite the Southeast’s entrepreneurial resilience, the region continues to grapple with challenges such as infrastructural decay, economic underdevelopment, poor healthcare services, human capital flight, and escalating insecurity.
He argued that Kanu’s detention remains a key factor in the unrest, discouraging investments and impeding development efforts, and urged the federal government to prioritize dialogue over prolonged legal confrontations, stressing that national unity requires political will and decisive action.
While reaffirming the committee’s oversight role, the Committee Chairman assured that the SEDC would focus on impactful, long-term projects rather than short-lived initiatives. He pledged to uphold accountability and transparency in all Commission activities.
Nkwonta therefore called on President Tinubu to demonstrate leadership by initiating the process for Kanu’s release and reintegration into society.
“Together, let us seize this opportunity to make history. Let us transform challenges into opportunities and build a South East region that is not only resilient but also thriving and prosperous,” he stated.
The Speaker of the House of Representatives, Rep. Tajudeen Abbas, in his iinaugural speech, described the SEDC as a critical step toward addressing the Southeast’s developmental needs.
Represented by Deputy Speaker Benjamin Kalu, Abbas eemphasised he committee’s role in driving investment and strategic initiatives for the region’s advancement.
“The inauguration of this committee is not just a formality. It is the beginning of a renewed effort to unlock the full potential of the Southeast, a region known for its resilience, industry, and entrepreneurial spirit,” he stated.
He noted that the Commission was created in response to long-standing issues such as gully erosion, infrastructural decline, economic stagnation, youth unemployment, and security challenges.
According to him, the Commission will serve as a vehicle for recovery, modernization, and economic revitalization, positioning the Southeast as a hub for innovation, commerce, and industrial growth.
“The role of this committee is to provide legislative oversight, monitor the implementation of policies, and ensure that the Commission fulfills its mandate with efficiency, transparency, and accountability,” Abbas added.
Acknowledging the Southeast’s historical significance as a center of trade, education, and enterprise, he lamented its struggles with inadequate infrastructure, minimal federal presence, and restricted access to development opportunities.
He urged the committee to prioritize infrastructure, industrial growth, human capital development, and security enhancement.
“This is not just about policy monitoring; it is also about improving the lives of millions of people who look to us for leadership and solutions,” he said.
Speaker Abbas charged members of the committee to approach their responsibilities with dedication and patriotism, stressing that their performance would shape the Commission’s legacy.
“The foundation you lay, and the impact you make, will be a significant stamp in the annals of the history of the Commission.
“Development is not about politics. It is about people. We must ensure that every policy, every project, and every decision taken by the commission serves the greater good of the region and contributes to national development,” he said.
The Speaker assured the committee of full support from his office and the House of Representatives, pledging collaboration to ensure the Commission meets its objectives and serves as a model for regional growth.
“This is our opportunity to turn aspirations into realities, to uplift communities, and to build a Southeast that is prosperous, stable, and thriving for generations to come,” he said.
“May your efforts bring about meaningful progress, and may this initiative serve as a lasting legacy in our shared vision for a stronger and more united Nigeria,” he asserted.
News
Traditional ruler Who Threatened To Keep Octogenarian In Custody Fails To Meet Bail Conditions
By Kayode Sanni-Arewa
The monarch of Orile Ifo, Oba Abdulsemiu Ogunjobi, has been remanded at the Ilaro Correctional Centre in Ogun State after failing to fulfill his bail conditions.
The spokesperson for the correctional facility, Yinka Odukoya, confirmed that Oba Ogunjobi having failed to meet his bail conditions has remained in the custody of the Correctional Service.
Odukoya stated, “Yes, he is in our custody, which means he has been unable to meet the bail conditions granted by the court yesterday. However, as soon as he does, he will be released.”
The charges against Ogunjobi stemmed from a viral video showing him assaulting 73-year-old Abraham Areola.
The Ogun State Police Command had charged Ogunjobi with conspiracy, assault, and behavior likely to cause a breach of the peace. The charge sheet specifies that the incident occurred on January 21, 2025, at Sojuolu Street in the Ifo Magisterial District, where Ogunjobi allegedly conspired with others to assault Areola by slapping him on the face and ear.
Additionally, the charges accuse him of causing a public disturbance by forcing Areola to kneel and assaulting him in front of others
The charge states, “That Abdul-Semiu ‘m’ and others at large, on 21st January 2025, at about 1100 hrs at Sojuolu Street, Ifo Magisterial District, did conspire to commit a misdemeanour, to wit: assault and conduct likely to cause a breach of the peace, thereby committing an offence contrary to and punishable under Section 517 of the Criminal Code Laws of Ogun State of Nigeria, 2006.”
It further reads, “That you, Abdul-Semiu ‘m’, and others now at large, on the same date, time, and place in the aforementioned Magisterial District, did unlawfully assault one Areola Abraham by slapping him on the face and ear, thereby committing an offence contrary to and punishable under Section 351 of the Criminal Code Laws of Ogun State of Nigeria, 2006.”
In addition, the charges state, “That you, Abdul-Semiu ‘m’, and others at large, on the same date, time, and place in the aforementioned Magisterial District, did conduct yourselves in a manner likely to cause a breach of the peace by forcing one Areola Abraham ‘m’ to kneel down and assaulting him in public, thereby committing an offence contrary to and punishable under Section 249 (d) of the Criminal Code Laws of Ogun State of Nigeria, 2006.”
Oba Ogunjobi appeared before Magistrate F A Iroko and pleaded not guilty to the charges and was admitted to bail. Among the conditions for bail, Oba Ogunjobi was to provide two sureties, each in the sum of ₦5 million, who must reside within the court’s jurisdiction. The case has been adjourned to March 6 for a hearing.
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