The Federal High Court sitting in Abuja has issued an interim order for the freezing of about 1, 146 bank accounts that were allegedly linked to unauthorized foreign exchange transactions.

The court, in a ruling that was delivered by Justice Emeka Nwite, ordered that the identified accounts, belonging to individuals and companies, should be frozen for at least 90 days, to allow the Federal Government to conclude its investigations that they could have been used for money laundering and terrorism financing.

“It is hereby ordered as follows: That the applicant’s application is hereby granted as prayed.

“That an order of this honourable court is hereby made freezing the bank accounts stated in the schedule below which accounts are owned by various individuals who are currently being investigated in a case involving the offences of unauthorised dealing in foreign exchange, money laundering and terrorism financing to the extant that the investigation will be for a period of 90 (Ninety) days,” the court held.

The order, dated April 24 but sighted by newsmen on Monday, followed an ex parte application that was brought before the court by the Economic and Financial Crimes Commission, EFCC.

The anti-graft agency had in the motion ex-parte marked: FHC/ABJ/CS/543/2024, maintained that the accounts it listed in a schedule it attached to the court process, were subject of its ongoing investigations.

“That preliminary investigation conducted thus far reveals that the bank accounts are linked to persons who take advantage of the virtual crypto currency exchange platforms to illegal manipulate the value of Naira and laundering proceeds of unlawful activities.

“That there is need to preserve the funds in the identified bank accounts pending the conclusion of investigation and possible prosecution,” the EFCC added in the affidavit that was filed by its lawyer, Mr. Ekele Iheanacho.

Some of the account names the EFCC listed in the attached schedule, included: Akitoye Adeyemi Ayomide with GTBank account number; 0165110025; Clyp Trading Ltd, Titan Trust Bank account number: 0000331101; Clyp Consulting Ltd, Providous account number: 9401374554; and Toyetech Platforms Ltd, Titan Trust Bank account number: 0000134962.

Others were: Winx International Platforms Ltd, Titan Trust Bank account number: 0000135055; Shutterscore Trading Platforms Ltd, Access Bank account number: 1532363954; Tradecillion Trading Ltd, Stanbic IBTC account number: 0045672922; and Nsofor Nmamdi, GTBank account number: 0449088666
They equally include Kora Payments Network Ltd-Operations, UBA account number: 1022242089; Renderstack Technologies Ltd, Zenith Bank account number: 1210355120; Korex Payments Ltd, Globus account number: 5000007837; and Awe Microfinance Bank Ltd, Providous account number: 5400760781; and Victor Asuquo, Opay Digital Services Ltd account number: 9020132068.

As well as: Akingbade Sabit Juwon, ECONANK account number: 3442053006; Nsofor Nmamdi, Union Bank account number: 0140460572; Asuquo Samuel, First Bank account number: 3153199542; Oty Ugochukwu Stanley, FCMB account number: 4039304011; Oty & Sons Global Concepts, Fidelity Bank account number: 6060410145; and Pelumi Ayandoye, Wema Bank account number: 0234852277; and David Ajala, Fidelity Bank account number: 5090680780.

Meanwhile, Justice Nwite adjourned the matter till July 23 for mention.

It will be recalled that the court had in March, ordered Binance Holdings Limited to release to the EFCC, a comprehensive detail of all persons from Nigeria that are trading on its platform.
Binance is a cryptocurrency exchange platform that lists more than 350 digital currencies that serve as alternative form of payment, created, using encryption algorithms.

FG had asked the company to disclose its top 100 users in the country, as well as all transaction history for the past six months.

The Governor of the Central Bank of Nigeria, CBN, Mr. Olayemi Cardoso had on February 27, disclosed that about $26billion passed through Binance from unidentified sources.

In an abrupt move on March 8, the crypto firm discontinued all transactions in naira on its exchange platform, following reports that the government demanded $10bn as retribution for profiting from “its illegal transactions” in Nigeria.

However, in an ex-parte motion it filed before the court, the EFCC said it would need a detailed data of Binance users in the country to aid its ongoing investigation on issues relating to money laundering and terrorism financing.

In a supporting affidavit that was attached to the motion, deposed to by one Hamma Bello, an operative of the EFCC, he told the court that he was attached to the Special Investigation Team (SIT) of the commission domiciled in the Office of the National Security Adviser (ONSA).

Bello averred that following the inauguration of the Technical Committee on Currency Stability and Forex Manipulation by the ONSA, the SIT, “received an intelligence stating the nefarious activities (money laundering and terrorism financing) on Binance, a crypto currency exchange platform.”

According to him, “That from the information afforded to the team by Binance shows that the total trading volume from Nigeria in 2023 alone stood at $21.6 (twenty one billion, six hundred million dollars).”

FG had since charged both the company and two of its top officials to court for money laundering and tax evasion.

The Northern governors and monarchs have commended Aliko Dangote, billionaire businessman and president of the Dangote group, for the N15 billion food intervention programme launched to cushion the burden of economic hardship on Nigerians.

The governor of Nasarawa and Benue who joined others to laud Dangote’s effort said the scheme was monumental in scope and impactful.

Hyacinth Alia, governor of Benue who was speaking during the weekend at the commencement of the food distribution in the state described Dangote’s action as ”multifaceted philanthropic efforts benefiting the poor and vulnerable populace of the state”.

Alia who was represented by Abah Isaiah, his senior special assistant appreciated Aliko Dangote Foundation (ADF) for supporting the state with twenty thousand bags of 10kg rice.

Sen. Suswam Opposes Establishment of State Police, Citing Immaturity of Nigeria
He disclosed that a committee has been constituted to distribute rice palliatives to the poor, vulnerable, and all local government areas in the state, including non-governmental and faith-based organizations.

Other members of the distribution committee are; foundation for justice, development and peace; first step action for children initiative; Benue state emergency management agency (SEMA); national orientation agency (NOA), Benue directorate; and Islamic charity.

Alia said that the food intervention would support its citizens living in IDP camps that are yet to return to their farms, commending Dangote for creating thousands of jobs through the Dangote Cement Plant in Gboko.

He added that the job creation and economic activities as precursors to peace and stability.

Alia urged host communities to support Dangote, stating they would do everything possible to ensure its success in Benue

“We would do everything possible to make sure that Dangote succeeds in Benue. I also want to urge you to support this company,” he said.

“As you can see there is a cordial relationship between the Dangote Cement Plc and the host communities. You can see how Dangote staff and host communities have been relating with each other.”

The governor urged the company to continue its charity work in the state, stating that the state is ready to provide an enabling environment for businesses to thrive.

Speaking further, Abdullahi Sule, governor of Nasarawa, said the intervention would ‘undoubtedly’ ease economic hardship being faced by many Nigerians.

Emmanuel Agbadu Akabe, deputy governor of the state who represented Sule said each LGAs of the state were allocated 2,000 bags apart from Karu and Lafia who were allocated 2,500 bags each.

He lauded Dangote, describing him as the “father of charity in Nigeria.”

Jonathan Kunde, general manager of Dangote Cement Plant Gboko, praised the peaceful and supportive communities over the years and promised them of more interventional schemes.

Zaki Atoo Mande, a monarch and representative of the host communities pledged the support of the communities towards the continuous realization of a hitch-free mining and production activities.

Muhammad Shaibu, emir of Tunga in Nasarawa, said the ADF’s National Food Intervention Programme is supporting the government to cushion the impact of economic hardship being experienced in the country.

“The Aliko Dangote Foundation is not only a gift to Nasarawa State, but to all Nigerians,” he said.

Ibrahim Galadima, district head of Tunga
described Dangote as God’s gift.

The Adamawa state also said it received its share of one million 10Kg rice distributed nationwide by the foundation, he added that thirty-five thousand beneficiaries, primarily vulnerable and disadvantaged, have received support to combat hunger due to the country’s current economic situation.

Abdullahi Bello Dan Musa, chief operating officer of Dangote sugar refinery numan, confirmed successful distribution across zones and almost completed the exercise in Taraba.

He added that the foundation has partnered with community leaders in the state to ensure the commodity is delivered to its intended beneficiaries.

Anthony Chiejina, spokesperson of the company, stated that the food initiative is part of the foundation’s ongoing commitment to aiding the Nigerian government and populace in overcoming economic challenges.

Ivase Eugene, a representative of the Aliko Dangote Foundation, and deputy general manager social performance and community relations, said the company was sharing one million bags of 10kg rice in all LGA of the country.

On March 24, Dangote launched a N15 billion food intervention programme to cushion the burden of economic hardship on Nigerians

During the launch in Kano, Dangote said the distribution of food items will run from March to early April, adding that over one million 10kg bags of rice will be distributed across the 774 LGAs of the 36 states of the federation, including the federal capital territory (FCT).

The Foundation had equally distributed thousands of bags of rice to beneficiaries and vulnerables in FCT with at least 48 charity organizations and orphanages involved in the process.

The former presidential aspirant of the People’s Democratic Party (PDP) from Abia State, Chief Cosmos Ndukwe, has announced his resignation from the PDP.

Chief Ndukwe posted his resignation letter on his official Facebook page on Monday.

Chief Ndukwe was once a Councillor, Deputy Local Government Chairman, Chief of Staff to the Executive Governor of Abia state, Deputy Speaker of Abia 6th House of Assembly, and also a presidential aspirant under the PDP umbrella.

Stating his reasons for leaving the party, he wrote, “My decision to resign as a member within the party stems from personal reasons and my reflection on my current commitments and aspirations.

“After careful consideration, I have concluded that porting out of PDP is the best course of action for me now”.

However, in his letter, he did not state if he was joining another party or quitting politics.

He also thanked Abia state PDP for their support and expressed appreciation for all the role the party played in his political career.

Burkina Faso has suspended a swathe of international news organisations, some indefinitely, for airing accusations of an army massacre of civilians, with the communications regulator CSC adding more outlets over the weekend.

Among those named are French newspaper Le Monde, British publication The Guardian, German broadcaster Deutsche Welle and French broadcaster TV5 Monde.

They were suspended for reporting on a Human Rights Watch (HRW) statement accusing soldiers of killing at least 223 people in revenge attacks on two villages on February 25.

Other news media named by the CSC in an order dated Saturday, were French regional newspaper Ouest-France, African website APAnews and the Swiss-based Agence Ecofin.

Already on Thursday, the CSC announced it had directed internet service providers to suspend access to the BBC, VOA and HRW from Burkinabe territory for two weeks.

The military rulers of Burkina Faso have dismissed as “baseless” the HRW report on the massacre, which found 56 children were among the dead.

“The killings at Nodin and Soro led to the opening of a legal inquiry,” communications minister Rimtalba Jean Emmanuel Ouedraogo said in a statement late Saturday.

He expressed his surprise that “while this inquiry is underway to establish the facts and identify the authors, HRW has been able, with boundless imagination, to identify ‘the guilty’ and pronounce its verdict”.

HRW described the massacre as “among the worst army abuse in Burkina Faso since 2015”.

“These mass killings… appear to be part of a widespread military campaign against civilians accused of collaborating with Islamist armed groups, and may amount to crimes against humanity,” the New York-based group said on Thursday.

– ‘Grave and abusive decisions’ –

Reporters Without Borders (RSF) condemned what it called “grave and abusive decisions” from the junta.

In an email sent to AFP, the defender of press freedom said it “reminds the authorities that the publication of general news on the country’s security situation must not be a pretext for the worst attacks recorded against the media in recent months”.

According to the Burkina statement, “The media campaign orchestrated around these accusations fully shows the unavowed intention … to discredit our fighting forces.”

“All the allegations of violations and abuses of human rights reported in the framework of the fight against terrorism are systematically subject to investigations” followed by the government and the UN high commissioner for human rights.

The latest suspensions against media come after a series of similar moves, both temporary and indefinite, that have been taken since Captain Ibrahim Traore came to power in September 2022.

Under Traore, the junta has distanced Burkina Faso from France, which ruled the country until 1960, and has already targeted a number of French media outlets.

The West African nation has been battered by a jihadist insurgency that swept in from neighbouring Mali in 2015.

Thousands of civilians, troops and police have been killed, two million people have fled their homes, and anger within the military at the mounting toll sparked two coups in 2022.

AFP

The United Kingdom (UK) government has announced a crackdown on criminals such as terrorists, drug dealers, and fraudsters who use cryptocurrency to raise and hide money.

According to the UK government, over £1 billion illicit transactions occur via cryptocurrency annually.

The UK Home Office made this known in a recent post on its X official page declaring that the law enforcement agencies have been given the greenlight to go after those involved.

Vanguard reports that the UK has embarked on diverse policies bordering on immigration, economic and financial matters.

“Over £1 billion in illegal crypto transactions take place in the UK each year,” the UK Home Office said. “Drug dealers, fraudsters and terrorists use crypto to hide and raise money.

“We’re giving law enforcement new powers to seize, freeze and destroy crypto assets,” it added.

This clampdown on illegal cryptocurrency operators in the UK is coming weeks after major stakeholders are found culpable of criminal activities.

In late March, FTX founder Sam Bankman-Fried was sentenced to 25 years in prison in the United States, for the securities fraud conspiracy that doomed his cryptocurrency exchange and a related hedge fund, Alameda Research.

Bankman-Fried also was ordered to pay $11 billion in forfeiture at the sentencing in Manhattan federal court.

In another development, five days ago, the US prosecutors wanted Changpeng Zhao, the founder and former chief executive of Binance, the world’s largest cryptocurrency exchange, to serve three years in prison after he pleaded guilty to violating laws against money laundering.

Foreign students likely using university courses as cheap means to obtain visas, UK laments
In February, the Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, said that over $26 billion in illicit flows has passed through the crypto platform Binance in the last year.

The revelation led to the arrest and detention of two Binance executives by the Office of the National Security Adviser (ONSA).

The two officials detained were Tigran Gambaryan, a US citizen and Binance’s head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is a regional manager for Africa.

According to the ONSA, the duo were charged with four counts of tax evasion and with laundering over $35 million.

Meanwhile, Anjarwalla escaped from the custody of the security operatives, but was arrested by Kenya authorities, days later.

The Governorship candidate of the Peoples Democratic Party (PDP) in Edo State, Asue Ighodalo, has refuted claims that he has a hand in the impeachment of the state’s former Deputy Governor, Philip Shaibu.

Ighodalo who described the allegation as fake, added that the claims was cooked up to tarnish his reputation.

This was contained in a statement released by his media team on Monday.

The statement read, “While we would not usually join issues in response to every passing comment, it has become imperative to address the recent spurious allegations by former Deputy Governor Phillip Shaibu.

“It is necessary for the record, to state in no uncertain terms, that Mr. Asue Ighodalo has had no role or involvement in any form whatsoever in the very public process leading to Mr. Shuaibu’s impeachment and subsequent removal from office by the Edo State House of Assembly.

“These claims are completely without merit, and Mr. Ighodalo categorically denies any such involvement. These allegations are a clear attempt to unjustly tarnish his reputation and divert attention from the actual issues at hand.”

He, however, called on the public to disregard the claim, saying, “We urge the public and the media to regard these false statements with well-deserved skepticism.”

Ighodalo had earlier said he remained focused on running a governorship campaign based on issues and devoid of distractions.

On April 8, the state House of Assembly impeached the embattled state deputy governor after the adoption of the report of the seven-man investigative panel set up by the state Chief Judge to probe allegations of misconduct against Shaibu.

Shaibu was probed on allegations of perjury and leaking of government secrets

The scarcity of premium motor spirit (PMS), commonly known as petrol, continues to affect various parts of Nigeria, leading to the proliferation of black marketers who are selling the product at exorbitant prices, reaching as high as N1,200 per litre in some locations.

Reports from across the country indicate that many filling stations remain closed, while those dispensing petrol have long queues. Some stations in the Federal Capital Territory (FCT) and several states have increased their prices, selling petrol at between N750 and N800 per litre. However, Nigerian National Petroleum Company Limited (NNPCL) outlets are dispensing at N617 per litre, albeit with longer queues.

The scarcity has left many motorists stranded, with some residents resorting to trekking long distances. In Jigawa State, black marketers were seen selling petrol for N1,100 per litre, while in Lagos, dispatch riders were distributing fuel to black marketers. Transport fares have also increased in affected areas, such as Abeokuta and Akure.

The Independent Petroleum Marketers’ Association of Nigeria (IPMAN) has attributed the scarcity to a lack of stock at most depots in Lagos. However, the NNPCL has maintained that there is product availability and that the situation should clear up shortly.

In Cross River State, elders and youths in Okuku and Ishibori communities sealed petrol stations selling the product for N1,200 per litre following a protest by commercial motorcyclists. Station owners claimed that the unavailability of the product forced them to increase prices.

At the Apapa depot, some marketers who spoke to newsmen disclosed that there has been a drastic drop in the level of imports.

They lamented that priority attention was only for trucks loading products to Abuja at the detriment of other locations, especially Lagos and neighboring states

They said there was a strict instruction from higher authorities that only trucks heading to Abuja should be loaded.

Another marketer at the Apapa depot who simply identified himself as Alhaji kabiru said the shortage in supply may worsen in Lagos by Tuesday because of the priority attention given to trucks heading to Abuja.

“A particular depot in Apapa here that received 5,000 metric tons (200 trucks) of petrol on Thursday has loaded over 100 trucks for Abuja but our trucks that are meant to service Lagos outlets have been on the queue since Friday without consideration for us”.

In Abuja, black marketers are smiling to the bank as they pepper motorists with scathing petrol prices.

Mohammed Wudil, a taxi driver plying the Lugbe-Abuja Airport corridor has this to say over the scathing issue: “Never in my wildest imagination did I think that I’ll sleep in the filling to get petrol after the government had deregulated it and yanked off subsidy payments on it. “But how wrong I was. Today, at almost N700/litre, I’m still chasing petrol tankers at night to know where they’ll discharge their products so I quickly queue their overnight so I’m among the first set to be served in the morning.

“But this was not the promise made to us when they removed subsidy. If you’re queuing and sleeping at the filling station to buy petrol at N170/litre, so you can well, it’s worth the stress. But at N690/litre?”

Another motorist, Mrs Mary Agu, a civil servant said she could not help but be at a filling station by 4am. “I’m a woman and my hubby is not around. So, I run the house. But since this scarcity horror began about a fortnight ago, I hardly sleep well because once my fuel indicator stick points downwards below half tank, I’ll start panicking.

“When will this torture end? The petrol is even like methylated spirit. It practically disappears without any meaningful trip. “Black market is hell. You’ll buy a litre for N1,200 or N1,100 at best. Who can survive on that? What of inflation that has pushed products’ prices to unimaginable heights? This is totally unacceptable”, she said. Black marketers who spoke to Daily Sun said the development was a golden opportunity to make brisk business as inflation and growing unemployment was battering them with reckless abandon. Musa Janjere, a 20-year old petrol hawker on Kubwa-Zuba expressway said he has a flourishing rapport with petrol attendants at filling stations. “We take our cans to them at night and they fill them up for an extra charge. So, it’s a win-win situation for me and them. “The profit is worth the stress. So, it checks out”, he said.

Aliyu Sani, another hawker who sells across from the NNPC towers in the Central Business District, mentioned that this time marked a period of thriving business for him.

“I make about N15,000 to N25,000 profit daily depending on how many cans of fuel I am able to sell. I buy 10 liters for around 7,000 and sell at 10,000-12,000. I suspended my pop corn and ground nut business to switch to this because it is more profitable. I hope the scarcity continues so that I can save up enough funds to start up a provisions store like I have always dreamed of”, he said.

President Bola Ahmed Tinubu has said the fuel subsidy removal and foreign exchange liberation policies have put Nigeria at the forefront of economic growth.

In a statement by Ajuri Ngelale, presidential spokesperson, he said Tinubu highlighted this during a high-level panel session at the World Economic Forum, WEF, Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh, Saudi Arabia, on Sunday.

Ngelale quoted the president as saying that he had to take tough but essential decisions like removing fuel subsidy – with its attendant perils – to reposition Nigeria’s economy. 

“Concerning the question of subsidy removal, there is no doubt that it was a necessary action for my country not to go bankrupt and to reset the economy and the pathway to growth. It was going to be difficult, but the hallmark of leadership is making difficult decisions when they need to be made.

“That was necessary for the country. Yes, there have been drawbacks. Yes, there was an expectation that more people would feel the difficulty. But, of course, our people’s interest was the government’s primary focus.

“Along the line, there was an arrangement to cushion the effect of the subsidy removal on the country’s vulnerable population. We shared the pain across the board. We cannot but include those who are very vulnerable.

“Luckily, we have a very vibrant youth population interested in innovation and highly ready to leverage technology and good education, and they remain committed to growth.

“We managed that and partitioned the economic drawback and the fallout of the subsidy removal equally, engendering transparency, accountability, and fiscal discipline for the country. And that is most important, focusing on what direction we should head in. I will pursue that rigorously,” he said.

Tinubu explained that the government under his leadership manages the nation’s currency and effectively removes corruption-laden arbitrage.

“Currency management was necessary to remove the artificial value element in our currency. Hence, our local currency finds its level and competes with the rest of the world’s currencies as we remove corrupt arbitrage and opaqueness.

“That we did. At the same time, that is a two-engine problem that is a very turbulent situation for the government.

“But we can manage that turbulence because we prepared for this with inclusivity in governance and rapid communication with the public,” the president said.

Recall that in June last year, Tinubu’s administration removed subsidies on petrol and liberalized the FX market.

The development had led to soaring inflation in Nigeria, which stood at 33.20 per cent in March, and currency fluctuation.

The Returning Officer of the All Progressives Congress, APC, in Supare Akoko, South West council area of Ondo state, in the just concluded governorship primary election, Alaba Abe, aka Excel, has reportedly been assassinated.

Abe, who was also the ward 10 coordinator of the party in the council area, served as the returning officer for Governor Lucky Aiyedatiwa in the governorship primary election on April 20.

The victims death was confirmed by his elder brother, Samuel Abbey.

Samuel said that his brother was assassinated on Saturday at about 9 pm in front of his house.

In a swift reaction, the governor Lucky Aiyedatiwa Campaign Group, has appealed to the police authorities in the state to protect its members against implacable opponents.

While decrying the gruesome murder of the ward coordinator, the campaign group in a statement issued by its State Information Director of the organisation, Mr. Kayode Fasua, said that “the late Excel, was a resourceful coordinator, campaigning for the election of Governor Lucky Aiyedatiwa until he was gruesomely murdered.

Fasua said that “he was shot in his Supare home on April 27.

He described the incident as a rude shock to members of the party in the council area, working for the election of the governor, come November, this year.

Also reacting, the Akoko Southwest Local Government Director-General for the campaign group, David Ajobiewe, equally described the incident as a rude shock.

“Excel had been a resourceful coordinator for the Aiyedatiwa campaign organisation in Ward 10 of Supare and was never known to be violent and never had any history of local or domestic dispute.

“We urge the police authorities to step up investigations into his gruesome murder and bring the perpetrators of the dastardly act to book.

Meanwhile, the Convener of the campaign group Dr. Oladipupo Okeyomi, has expressed the heartfelt condolences of Governor Aiyedatiwa, as well as the lamentation of the campaign group and the leadership of the APC in Ondo State, on the tragic loss.

He described the incident as terrible and uncalled for, expressing his sympathy with the family members, friends, and associates of the late Excel.

Contacted, the spokesperson for the state police command, Funmi Odunlami, said that ” In brief, the command is aware of the incident at Supare, investigation is ongoing to unravel all that happened.

Real Madrid president, Florentino Perez, blocked manager Carlo Ancelotti’s request to sign Harry Kane from Tottenham last summer, according to Relevo.

Ancelotti had made Kane his top target ahead of this season.

It is believed signing the England captain was even a bigger priority for him than landing Jude Bellingham from Borussia Dortmund.

Ancelotti was looking to replace Karim Benzema, who left as a free agent for Al-Ittihad in Saudi Arabia.

But Perez refused to sanction the move, as he has set his sights on signing Kylian Mbappe this year.

Peres was willing to let Madrid play without a real number nine, before signing Mbappe on a free transfer.

Kane ended up joining Bayern Munich and has scored 42 goals in as many games in all competitions, helping Thomas Tuchel’s team to the Champions League semi-finals, where they will come up against Madrid.