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Court Slates May 17 To Decide Bail Request By Binance Executive

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Justice Emeka Nwite of a Federal High Court in Abuja has adjourned till May 17 to rule on the bail application filed by a Binance executive, Tigran Gambaryan.

Justice Nwite fixed the date on Tuesday after taking arguments from parties for and against the bail of Gambaryan, who is the second defendant in the charge filed by the Economic and Financial Crime Commission (EFCC) against Binance Holdings Limited, a cryptocurrency firm, and its executive over alleged money laundering to the tune of $35,400,000.

Arguing the bail application on behalf of his client, Mark Mordi (SAN) said, the court has the inherent jurisdiction to admit the defendant to bail, more so that, the offences for which he was charged are bailable offences.

Besides, he said, the defendant is presumed innocent until proven otherwise by the court and added that his client is anxious to prove his innocence before the court.

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According to Mordi, Gambaryan is not a flight risk and his international passport has been seized by the EFCC adding that, “The only reason the EFCC is holding the defendant is that, they want to use him as a leverage in making his employer provide them with information”.

While accusing the anti-graft agency of not acting according to law, Mordi prayed the court to admit the defendant to bail adding that, the court has the power to put in place necessary safeguards to ensure that the defendant attends his trial.

Opposing the application for the bail of the Binance executive, EFCC lawyer, Ekele Iheanacho, in a 14-paragraph affidavit, prayed the court to refuse the bail application of the defendant.

Iheanacho told the court that the second defendant is both an American and Amanian citizen and had attempted to process a new passport on the ground that his initial passport was missing.

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He said if EFCC had not intercepted the second defendant, he would have perfected the act, pointing out also that the second defendant had no attachment to any community in Nigeria to ensure that he would be available for his trial if granted bail.

Replying on point of law, Mordi prayed the court to discountenance the submission of the prosecution to the effect that the defendant is an American citizen by birth as there is nothing before the court to buttress that submission.

He said the second defendant who had been in custody for 50 days is eager to go to trial to prove his innocence.

After hearing the submissions of counsel, Justice Nwite adjourned till May 17, 2024, for ruling.

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Gambaryan, who took a plea on behalf of the Company as its representative pleaded not guilty to the money laundering allegation preferred against him by the EFCC.

The anti-graft agency had charged Binance Holdings Limited, a cryptocurrency firm, and Tigran Gambaryan, the company’s head of financial crime compliance on a five-count charge bordering on money laundering.

In the charge filed on March 28 by the anti-graft agency, the company executives are being accused of money laundering to the tune of $35,400,000.

EFCC alleged in one of the counts that, the defendants, between January 2023 and January 2024 in Abuja, carried out a specialised business of other financial institutions without valid licence.

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The offence is said to be contrary to Section 57(1) and (2) of the Banks and Other Financial, Institutions Act, 2020, and punishable under Section 57(5) of the same Act.

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Transporter Frowns At PTD Strike, Says Union Will Force Govt To Use Rail As Mobility Alternative In Lifting Petroleum Products

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By Kayode Sanni-Arewa

A prominent transporter in Oyo State and convener of a pressure group, “Know Your Right”, Kehinde Adebeshin a.k.a “Baba Ibeji” has cautioned the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and its Branch, the Petroleum Tanker Drivers (PTD) not to force the government of Nigeria to see the Nigerian Railway Corporation (NRC) as a preferred mobility alternative across the country for lifting Petroleum products.

This surprise call came in the wake of industrial action by the PTD in Lagos State to protest the “persistent harassment” of tanker and petroleum product drivers by police officers attached to the Task Force and LASTMA officials in Lagos State.

Although the strike has been called off by the Union’s leadership on Wednesday, February 25, 2025; however Adebeshin decried the ripple effects of the hardship the action of PTD had caused Nigerians since Saturday, February 22, 2024, he described the Union’s decision as an act of economic sabotage. He maintained that it was unfortunate and regrettable that the union flagrantly failed to comply with the existing Lagos e-call-up enforcement which was aimed at regulating truck activities and for maintaining orderliness in the already congested metropolis.

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Adebeshin blamed PTD and its parent body, NUPENG’s overzealousness and highhandedness on leadership gap, incompetence, lack of tact and administrative indiscretion. He also expressed disappointment on the implications of the strike on Telecom operators who also raised an alarm over an impending service disruption within Lagos and Ogun states, as diesel supply to their service locations were blocked for three consecutive days when the strike was on.

Adebeshin’s statement on Tuesday reads in parts:

“For lack of tact, competence, administrative discretion, and leadership gaps in operations, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and its Branch, the Petroleum Tanker Drivers (PTD) have openly given opportunity for the government of Nigeria to see the Nigerian Railway Corporation (NRC) as a preferred mobility alternative across the country for lifting Petroleum products and put a total stop to transportation of products through the road.

“The Union must be able to properly measure situations critically before down tooling, unfortunately, NUPENG and PTD have created room for business owners and Nigerians as a whole to label them economic saboteurs who stand the risk of being invited by the DSS. The Union brazenly failed to do its background check whether trucks arrested by Lagos State Task Force and LASTMA officials have not flaunted the existing Lagos e-call-up regulations which was designed to regulate truck activities and for maintaining orderliness in the already congested metropolis. Standing as an encumbrance to the government’s well intentioned program and policy is an affront which should never be tolerated.

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“The circular by the Lagos State government to all stakeholders to streamline and regulate truck activities along Lekki-Epe axis of the state, effective March 1, 2025 did not exempt NUPENG or PTD, therefore all violators would be apprehended and made to face the full wrath of the law.

“NUPENG should note that the Nigerian Railway Corporation (NRC), has already collaborated with APM Terminals (APMT) to kick start container traffic service on the standard gauge railway, connecting Lagos to the Moniya Freight Yard in Ibadan. This milestone can be replicated in the downstream sector of the Petroleum industry to enhance Petroleum products lifting and distribution activities, and providing a more efficient and convenient mode of transportation and ultimately help to reduce or put into a total halt, petrol tanker accidents which have claimed many lives and destroyed properties.

“It is good news to hear that NUPENG had eventually swallowed its pride by calling off the 3-day strike, they should engage more in peaceful dialogue with the government of Lagos State in the larger interest of Nigeria so as to foster symbiotic industrial harmony and prosperity. The Union should also try to fix the PTD leadership crisis in the nick of time and give room for people with vision, experience and positive direction to take charge of the PTD Branch and restore its old glory and dignity,” he said.

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Sad! Midnight f!re engulfs Ladipo, Owode Onirin markets in Lagos

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By Kayode Sanni-Arewa

A midnight inferno gutted Ladipo Market in Mushin and Owode Onirin Market along Ikorodu Road, Lagos, destroying goods worth millions of naira.

According to eyewitnesses, the fire broke out at Ladipo Market around 1 a.m., ravaging several shops and warehouses filled with mechanical tools, vehicle spare parts, motorcycles, and household electrical appliances.

Fortunately, no casualties were recorded in either incident, as confirmed by the Lagos State Fire and Rescue Service, which successfully curtailed the fire by 6 a.m.

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Director of the Lagos State Fire and Rescue Service, Margaret Adeseye, confirmed that emergency teams from Isolo, Bolade, and Alausa Fire Stations battled the flames at Ladipo Market. Despite challenges in accessing the affected areas, firefighters managed to contain the fire, preventing it from spreading to adjoining properties and businesses.

Meanwhile, another fire erupted at Owode Onirin Market along Ikorodu Road, affecting several shops dealing in metallic materials. Firefighters from the Alausa and Ikorodu Fire Stations responded swiftly, bringing the situation under control by 5 a.m.

Adeseye reassured the public that investigations would determine the cause of both fires once firefighting operations reach the damping-down stage.

“Thankfully, no casualties were recorded in either incident. The causes of the fires will be ascertained as soon as firefighting operations progress to the next stage,” she stated.

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US dumps UK, others from visa-free entry for 2025

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By Kayode Sanni-Arewa

The United States, on Monday, released the list of eligible countries for its 2025 Visa Waiver Programme.

The United Kingdom was excluded from the programme but remains eligible under specific conditions.

The list also does not include any African countries, such as Nigeria, Ghana, or South Africa.

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While most of the VWP list remains unchanged, the addition of Romania marks a significant update. The US has also focused on enhancing security checks and prioritising countries with strong diplomatic ties and border security standards.

According to the US Bureau of Consular Affairs website, the Visa Waiver Programme allows most citizens or nationals of participating countries to travel to the United States for tourism or business for up to 90 days without obtaining a visa.

The agency stated, “Travellers must have a valid Electronic System for Travel Authorization (ESTA) approval prior to travel and meet all requirements explained below. If you prefer to have a visa in your passport, you may still apply for a visitor visa.”

The new Visa Waiver Programme for 2025 introduces policy updates on permit eligibility and revisions to the list of participating countries, as well as new travel policies.

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This update simplifies visa-free entry into the United States for millions worldwide, making business, tourism, and transit travel more accessible.

The 2025 Visa Waiver Programme includes 40 countries whose citizens can now travel to the United States without a visa.

See the full list below:

1. Andorra,

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2. Australia,

3. Austria,

4. Belgium,

5. Chile,

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6. Czech Republic,

7. Croatia,

8. Denmark,

9. Estonia,

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10. Finland,

11. France,

12. Germany,

13. Greece,

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14. Hungary,

15. Iceland,

Nigeria needs data centres to meet digital demand – Geniserve
16. Ireland,

17. Italy,

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18. Israel

19. Norway,

20. Poland,

21. Portugal,

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22. San Marino,

23. Singapore,

24. Slovakia,

25. Japan,

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26. Slovenia,

27. Latvia,

28. South Korea,

29. Liechtenstein,

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30. Spain,

31. Lithuania,

32. Sweden,

33. Luxembourg,

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34. Switzerland,

35. Malta,

36. Netherlands,

37. New Zealand,

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38. Qatar,

39. Romania

40. Monaco

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