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Access to websites of top global cryptocurrency exchanges and virtual digital asset service providers such as Binance, Kucoin, OKX, and others, have been blocked and restricted in some countries.
Major economies like China, India, Turkey, and Nigeria have restricted and curtailed crypto trading.
Authorities are wary of how exchanges may be laundering the proceeds of criminal activity, or aid tax offenders, or host the perpetrators of crypto scams.
In the past few years, the platform has landed itself in a fix over compliance issues in several countries. Binance has been slow to comply with local money laundering laws, and has failed to register to do business in many countries.
On May 12, 2023, Binance exited the Canadian marketplace due to stricter requirements around stablecoins and investor limits.
Canada tightened regulations for crypto asset trading platforms with the introduction of a pre-registration process.
For Nigeria, telecommunications firms have been instructed to restrict access to the websites of cryptocurrency firms such as Binance, OctaFX, Coinbase and others, months after its Central Bank issued a guideline to govern digital asset operators’ activities.
This new restriction on crypto websites is aimed at slowing currency speculation activities in the country, with Binance stating that its platform is not for currency pricing. The platform said this after users complained about their inability to buy dollars.
When Nigeria banned Twitter in 2021, Nigerians continued using the platform with Virtual Private Network (VPN) apps. The same is expected, with the country boasting one of the largest crypto populations in the world.
Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies.
It was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software.
Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies.
Binance subsequently left Japan for Malta and currently has no official company headquarters.
Cryptocurrency trading platform is facing restrictions in multiple jurisdictions, such as the United States, Singapore, Canada and the United Kingdom.
In 2021, Binance was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses.
Also, the UK’s Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021.
Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, had advocated that Binance and other crypto platforms should be banned from operating in Nigeria.
Onanuga’s call for a ban on cryptocurrency trading platforms followed the directive of the CBN on February 5, 2021, to banks, non-bank financial institutions (NBFIs), and other financial institutions (OFIs), to close accounts of persons or entities involved in crypto transactions.
The regulator also warned local financial institutions against dealing in crypto assets or facilitating payments for crypto exchanges.
CBN cited concerns over money laundering, terrorism financing, cybercrime, and the volatility of cryptocurrencies as reasons for the ban.
Majority of restrictions across countries stem from licensing and money laundering issues.
The countries where Binance has been restricted or banned in no particular order are as follows:
United States
United Kingdom
Japan
Italy
Canada
Belgium
Nigeria
Australia
India
Netherlands
Thailand
Philippines
Germany
France
Bangladesh
Iran
Vietnam
Kazakhstan
Malaysia
China
[TheCapital.ng]
President Bola Tinubu has expressed displeasure with the approach of a section of the Organised Labour, saying calling four strike actions within nine months of a new administration was unacceptable.
Tinubu spoke on Thursday in Lagos where he inaugurated the first phase of the Lagos Rail Mass Transit (LRMT) Red Line project, a 37km project expected to reduce travel time and improve transportation and logistics in the State.
The President also witnessed the signing of the contract for Phase 2 of the LRMT Red Line project by the Managing Director of Lagos Metropolitan Area Transport Authority (LAMATA) Engr. Abimbola Akinajo and the Chairman of CCECC Nigeria Limited, Jason Zhang.
According to a statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, he called on Nigerians to embrace change and work towards national progress.
He reaffirmed his administration’s commitment to eradicating corruption and called on labour unions to refrain from disruptive actions.
Speaking to the incessant industrial actions called by Labour, under various pretexts, the President advised Labour leaders to rather help society by maintaining the peace, if their reason is not political, reminding them that the Labour movement is the only voice available to Nigerians.
”Some labour unions should understand that no matter how we cling to our freedom and rights, to call for strikes within the first nine months of a new administration is unacceptable.
”Some labour unions should understand that no matter how we cling to our freedom and rights, to call for strikes within the first nine months of a new administration is unacceptable.
Addressing a gathering of Nigerians at the train station in Ikeja, President Tinubu directed the Minister of Transportation, Senator Sa’idu Alkali, to ensure that the federal and subnational governments strengthen their collaboration to provide reliable, efficient, and affordable transportation systems for all Nigerians across the country.
”It is my singular pleasure to inaugurate the first phase of the LRMT Red Line to the glory of God Almighty and for the benefit of the people.
”Today, I am seriously honoured that I am a Lagosian and the first to be President of the Federal Republic of Nigeria.
”My promise is not to let you down. We will arrive at the destination with joy, happiness, and prosperity; God willing,” he said.
Reflecting on his tenure as the former Lagos Governor when the vision of a modern and effective public transportation system in the state was conceived, President Tinubu described the project as a dream realised and a fulfillment of years of hard work and dedication by successive governments.
”I am very happy indeed that today is a day to remember in Nigeria’s infrastructural history, particularly Lagos, the center of excellence. Today is evidence that it is good to dream, and it is a serious validation of democracy as a form of government of the people, by the people, and for the people.
”When you put people at the centre of your vision and planning, you will realize the value of democracy.
”Twenty-five years ago, I was elected to lead Nigeria’s most populous state. From the very beginning, my team and I toiled day and night with a very bare cupboard and amidst pervasive deficiency to implement a developmental vision that would transform Lagos into an economic powerhouse. Today, we are realizing that dream.
”The momentum of greatness we kick-started a quarter of a century ago has become unstoppable progress. It is not a crime to dream and dream big. Just stay focused and make development a central focus,’’ he said.
President Tinubu commended the Lagos Metropolitan Area Transport Authority (LAMATA), the urban transport agency he established over 20 years ago, for its exemplary performance and implored LAMATA to sustain the momentum in completing all other phases of the Red Line project, as well as the full execution of the broader rail blueprint of the state.
Sanwo-Olu explained that the first phase of the project, executed by the State Government, spans 37 kilometers and shares the track of the Nigerian Railway Corporation (NRC) Lagos-Ibadan modernisation project from Ebute Metta to Agbado with stations at Oyingbo, Yaba, Mushin, Oshodi, Ikeja, Agege, and Iju.
According to the Governor, phase one of the project will transport 750,000 passengers daily at inception and 1.1 million passengers daily once it is fully operational.
”All the stations are live and ready to receive passengers,” Sanwo-Olu announced.
While speaking to reporters aboard the train during the inaugural ride, President Tinubu assured Nigerians that their lives will only become more enjoyable as modern amenities are built across the entire nation under his progressive leadership.
‘‘This is very efficient and comfortable, and I am happy. Our transportation system must be all about the people. We have cut down imports on PMS by almost 50 percent. We need mass transit to complement the daily efforts of citizens and make things easier for our people. And this is what this is all about. It is about the people. It is about democracy. We are happy about it,’’ Tinubu stated.
[TheNation]
The House of Representatives, on Thursday, described the 2012 Steve Oronsaye Report as outdated and called on President Bola Tinubu to thoroughly review it before going ahead to implement the same.
The House, therefore, raised a 23-man committee chaired by House Leader, Julius Ihonvbere, to recommend appropriate measures to mitigate the likely fallout of the Oronsaye Report review.
The Federal Government had on Monday announced plans to implement the Oronsaye report, which proposes the merger of ministries, departments and agencies, as a measure to cut the cost of governance.
Presidential Goodluck Jonathan had in 2012 set up the Presidential Committee on Rationalisation and Restructuring of the Federal Government Parastatals, Commissions and Agencies.
The committee headed by former Head of the Civil Service of the Federation, Steve Oronsaye, recommended the scrapping and merging of 220 out of the then existing 541 government agencies.
Moving a motion of urgent public importance on the floor of the House of Representatives on Thursday, the trio of Kama Nkemkanma, Olumide Osoba and Gaza Gbefi noted that the Oronsonye Report “Recommended the reduction of statutory agencies from 263 to 161, the abolition of 38 agencies, and the reversion of 14 agencies to departments in ministries and the management audit of 89 agencies capturing biometric features of staff as well as the discontinuation of government funding of professional bodies/councils.”
The lawmakers said if implemented, the government would be saving over N862bn between 2012 and 2015 with a breakdown which showed that “About N124.8bn would be reduced from agencies proposed for abolition; about N100.6bn from agencies proposed for mergers; about N6.6bn from professional bodies; N489.9bn from universities; N50.9bn from polytechnics; N32.3bn from colleges of education and N616m from boards of federal medical centres.”
They argued however that the White Paper Committee set up by Jonathan’s administration rejected most of the recommendations, while those accepted were not implemented.
“The House notes that in November 2021, the President Muhammadu Buhari administration inaugurated two committees; one of the committees Chaired by Goni Aji, a retired Head of Civil Service of the Federation, was to review the Orosanye report and the second committee, chaired by Ama Pepple, also a retired Head of the Civil Service of the Federation, was constituted to review agencies created between 2014 and 2021.
“The House also notes that upon submission of their reports, the Muhammadu Buhari-led Federal Government in July 2022 set up another committee chaired by Ebele Okeke, a former Head of the Civil Service of the Federation, to produce a White Paper on the reports.”
The lawmakers said implementing the Oronsaye Report 12 years after it was made without first reviewing it might not be in the best interest of the nation because by now, the report “ordinarily may be described as outdated, especially because of how dynamic the society, economy, polity, technology and all facets of our national life has been.”
“Contrary to the assumption that the full implementation of the report would reduce cost of governance, with the current realities, the full implementation of the report will not substantially reduce the cost of governance as it does not reflect the current situation in the Public Service of the Federation,” the lawmakers said, stressing that a full implementation “Will certainly throw up unintended consequences, implications and outcomes.”
Following the adoption of the motion, the House urged President Tinubu to “comprehensively review the 2012 Orosanye Report, the Goni Aji Report which reviewed Orosanye Report, the White Paper released by the President Jonathan administration, the Ama Pepple White Paper and the Ebele Okeke White Paper in line with current realities, while considering implementable alternatives that are in tune with current realities, and which at the same time would have minimum unintended consequences, impacts, implications and outcomes.”
The House also urged the Federal Government to develop and implement policies “that will reposition the agricultural sector, the solid mineral sector and the informal sectors which will serve as alternatives to those that may be laid off consequentially while at the same time spurring economic growth.”
The Speaker of the House of Representatives, Abbas Tajudeen, who presided over plenary on Thursday inaugurated a 23-man committee chaired by House Leader, Julius Ihonvbere, to recommend appropriate measures to mitigate the likely fallout of the review exercise.
“The committee is to study the recommendation of the executive arm of government and advise the House on likely impacts of this restructuring exercise,” the Speaker said.
[Punch]
The British Council in Nigeria has increased the fee for the academic international English language testing system (IELTS) examinations.
This is the second time the council will be hiking the examination fee this year.
Last month, the price was increased by 29 percent from the N107,500 that was being paid for the test.
IELTS on computer academic and general training modules was set at N139,000; IELTS on paper academic and general training modules was pegged at N134,000; the UK visas and immigration (UKVI) was increased to N149,000; Life skills: N130,000; and one skill retake (O.S.R): N87,570.
In an update on its website cited on Thursday, the council said it had reviewed the fees.
The new fee for IELTS on computer academic and general training modules is now N266,000; IELTS on paper academic and general training modules: N256,500; UKVI: N285,500; and life skills: N249,000.
“The above fees will be subject to review based on the prevailing market dynamics,” the council said.
“The change in fees is due to the evolving market dynamics and increased costs in the delivery of our exams.”
The council added that the updated prices for the IELTS range of tests will take effect from March 1.
In September 2023, the British Council increased the cost of IELTS from about N90,000 to N107,500.
At the time, the council said the new prices were necessary to sustain the high quality of standards for the testing experience.
[TheCable]
A former lawmaker, Senator Shehu Sani, said the Oronsaye Report is outdated and needs to be updated before implementation.
Sani stated this in an interview on Channels Television’s Politics Today on Wednesday.
Recall that the Oronsaye Report was commissioned in 2012 with the goal of rationalising and restructuring federal government parastatals, commissions, departments and agencies.
But, Sani said the report has become obsolete due to the proliferation of new agencies and commissions since its inception.
He said that legislators’ performance was often measured by the number of bills they sponsored or the creation of federal agencies and commissions resulting from their initiatives, thereby leading to a high number of federal agencies and commissions in the country.
Sani noted that the approach did not align with the country’s economic realities.
He said, “Most of these commissions were created by the National Assembly. When you are elected into office as a senator or as a member of the House of Representatives, one of the factors that they use to gauge your performance or stewardship in office is the number of bills you are able to sponsor, or the number of federal agencies that came out of your bills.
“And as such, you see every year, legislators come out with all sorts of ideas about commissions and agencies and boards and bureaus. But we don’t take cognizance of the fact that we are a poor country. A nation of 224 million people with such little resources.
“Some of the agencies that we created in this country are so irrelevant and useless. And it’s time that we implemented this report.
“But Oronsaye Report could have been updated. The President could have invited Oronsaye and his committee and said, ‘Update your report based on the new commissions and agencies that have been created after your report.’ Because as it’s now, the report is outdated.
“If you live in Abuja today, there’s hardly any street you will move without seeing an agency you never knew before. It’s either one commission on this or an agency on that.
“Now, look at the number of the agencies that came after Oronsaye Report. So if you look at what’s being done now, it’s simply ‘Let’s implement this without thinking that it has gone out of date.’
“So, the best thing now is to invite Oronsaye and ask him to update his report and then the government can implement it,” he said.
The Oronsaye Report was formulated in 2011 by the then-President Goodluck Jonathan under the Presidential Committee on the Rationalization and Restructuring of Federal Government Parastatals, Commissions, and Agencies.
The report aimed to streamline governance, reduce costs, and enhance efficiency.
[Vanguard]
Vice-Chancellor of the University of Ilorin, Professor Wahab Olasupo Egbewole, has asked professionals not to leave Nigeria in the hands of politicians.
He stated this in Abeokuta, Ogun state, while delivering a lecture titled: “Town Planners, Sustainable Development and Nation Building” at the 10th Waheed Kadiri Lecture Series.
The annual lecture is organised by the Ogun State chapter of the Nigerian Institute of Town Planners in honour of the former President of NITP, Waheed Kadiri.
Delivering his lecture, Egbewole, a Senior Advocate of Nigeria (SAN), insisted that professionals and not only politicians must build Nigeria.
He expressed danger in leaving politicians solely in charge developing Nigeria, saying “to a large extent, our decision-makers are planning illiterate”.
He said, “It is now more imperative to allow professionals build our nation than succumb to the manipulations of the few and octopus called government as represented by few misguided public officials.”
The Vice Chancellor charged town planners “to promote lively and self-sustaining communities, town planning propositions must be ingenious to foster mix of residential, commercial and recreational land uses and enforce zoning restrictions that allow for mixed-use projects, building a feeling of community and reducing commuting lengths, as far as practicable.
“Every plan should be people-centered. As a process, planning must follow the dictates of Peoples Leading in Addressing their Needs (PLAN) that allows the targeted beneficiaries to take leading roles in conception and settings.
“Town planners must prioritise and plan for efficient and well-maintained infrastructure, including transportation, utilities and public services that meet future requirements and provide fair access to essential services.”
In his remark, Kadiri called for strict implementation of government policies and plans on urban regeneration to prevent natural disasters.
[DailyTrust]
President Bola Tinubu has warned the Nigeria Labour Congress (NLC) to maintain peace in the best interest of the country.
He spoke at the commissioning of the Lagos Red Line rail, on Thursday, February 29.
Tinubu came hard on the Union in the course of his remark, saying the Labour Union should understand that despite its acclaimed right and freedom, it cannot fight an administration that is just nine-month-old.
The Nation reports that NLC and other related unions protested on Tuesday over the high cost of living, inflation, insecurity, and hardship in the country.
But the union suspended the two-day nationwide protest after the first day, saying its suspension was based on the fact that the street action achieved overwhelming success.
The protesters headed to the National Assembly where the NLC President Joe Ajaero, presented a letter of demands to President Bola Tinubu through the leadership of the National Assembly.
Reacting on Thursday, Tinubu said: “Allow me to throw a jab here. The Labour Union should understand that you’re not the only one with freedom & rights.
“If you want to participate in the electoral process, meet us in 2027.
“If not, maintain peace. You’re not the only voice of Nigeria.”
The President further declared that: “There is a very bright light at the end of the tunnel. Nigeria will be out of the economic problem; we just need to persevere and work hard”.
Tinubu said the commissioning of the Red Line was the culmination of the vision he nursed 25 years ago when he was governor of the state, calling for more collaboration between the Ministry of Transport and other states to develop railway infrastructures across the country.
[TheNation]
A nominee for membership of the Central Bank of Nigeria Board of Directors, Urum Kalu Eke has declined the offer stating that he was currently engaged in the World Bank.
This came to the fore during the Thursday plenary when the Senate began the process for the confirmation of the nominees.
President Bola Tinubu had on February 13 forwarded the names of Urum and four others for confirmation as members of the board for the CBN.
But during the confirmation, former Governor of Abia State, Senator Orji Kalu,( APC, Abia North ) told the Senate that the person who is his constituent had called him on the phone to reject the offer, noting that it would conflict with his present job as a consultant with the World Bank.
He said, “The nominee told me this role would conflict with his job as a consultant to the World Bank, Federal Government agencies and other private companies.”
Meanwhile, the Senate has confirmed the appointment of four other members of the Board of Directors of the CBN forwarded to it by the President.
Those confirmed by the Senate on Thursday as Directors are Robert Agbede; Ado Yakubu Wanka; Professor Murtala Sabo Sagagi and Mrs. Muslimat Olanike Aliyu.
The confirmation was sequel to the consideration of a report of the screening of the nominee presented by the Chairman, Senate Committee on Banking, Insurance & Other Financial Institutions by the Chairman, Senator Adetokunbo Abiru, (APC, Lagos East).
Abiru said, “That the Senate do receive and consider the report of on the confirmation of the nomination of the following Five (5) persons as members of the Board of Directors of the Central Bank of Nigeria in accordance with section 6(1), (2) (d) and 10 of the Central Bank of Nigeria Act, 2007.”
According to him, the Committee did not clear Urum Kalu Eke from Abia because he failed to appear before the Committee for screening.
[Punch]
President Bola Tinubu has inaugurated the Red Line Rail Project in Lagos. The project, an intra-state rail service aimed at improving transportation within the city, spans 37 kilometres.
The Red Line Rail Project in Lagos, Nigeria, represents a significant infrastructure development aimed at improving transportation within the city.
Here are five key aspects worth noting and some insights into the new rail line.
The route
The Red Line is envisioned as a vital metro link within the Lagos-Ibadan rail corridor. Spanning 37 kilometres, it will share the right-of-way with the Lagos–Kano Standard Gauge Railway.
The route will initially run from Agbado in Ogun State to Oyingbo in Lagos, with notable stations including Agbado, Iju, Agege, Ikeja, Oshodi, Mushin, Yaba, and Oyingbo.
The project cost
The Red Line project is a substantial investment in Lagos’ urban transportation infrastructure. Initial estimates pegged the cost at $135 million under the Greater Lagos Urban Transportation Project, managed by the Lagos Metropolitan Area Transport Authority (LAMATA).
However, Governor Babajide Sanwo-Olu revealed that both the Blue and Red Lines combined would exceed ₦100 billion. Delays in the Blue Line project, initially expected to be completed by 2011, highlight the funding challenges faced by the project.
The operations
LAMATA, operating under the Ministry of Transportation, spearheads the Red Line Rail Project.
Once operational, it is expected to facilitate 37 trips daily, accommodating approximately 500,000 passengers.
The primary objectives include reducing travel time, mitigating health issues related to stress, and enhancing economic productivity.
The project aims to alleviate traffic congestion, minimise road accidents, and improve commuter safety within Lagos.
Choice of transmission
The Red Line will utilise a diesel-powered system known as Diesel Multiple Unit (DMU), unlike the electric-powered Blue Line. DMU employs on-board diesel engines to propel multiple-unit trains. This choice of transmission aligns with the project’s objectives and operational requirements.
The Red Line Rail Project represents a significant milestone in Lagos’ transportation infrastructure development. Its inauguration promises to enhance connectivity, ease commuter burdens, and contribute to the city’s overall economic growth and development.
Infrastructure of the Red Line Rail
To ensure the smooth operation of the rail line and safety for commuters, significant infrastructure has been developed.
This includes the construction of 10 vehicular overpasses and pedestrian bridges, separating train traffic from vehicular and pedestrian flows.
[Vanguard]
The senate has agreed to extend the retirement age of civil servants working in the national assembly.
The development comes a week after the upper legislative chamber threw out a bill on the subject. However, it concurred with the house on Thursday.
The bill, which has been passed by the house of representatives, is seeking to increase the retirement age to 65 years or 40 years of service, whichever comes first.
The existing law prescribes 60 years of age or 35 years of service for retirement.
Last week, some of the senators kicked against the bill, saying that special treatment should not be given to national assembly staff.
Specifically, Enyinnaya Abaribe, senator representing Abia south, said there is no difference between a civil servant in the national assembly and in a federal ministry.
“I have also looked at the retirement age for university lecturers and judicial officials which we passed about the same time,” Abaribe said.
“Coming down to the officers of the national assembly, I asked a simple question; What is the difference between the person who is a finance director in the national assembly and that in the ministry of finance?
“I do not see what separates the person who works inside here as a staff of the national assembly from the person who works in the ministry of commerce as a staff.
“We must not allow somebody to stay here beyond the rules of public service of Nigeria on retirement year.”
The senate has set up a committee to harmonise its bill with that of the lower legislative chamber.
[TheCable]
More...
President Bola Ahmed Tinubu on Thursday condemned the recent protest by the Nigeria Labour Congress (NLC), warning the Labour movement to know that it is not the only voice of the people.
He spoke at the commissioning of the Lagos Red Line Train connecting from Agbado to Oyingbo.
The Labour Union had on Tuesday staged a protest over hardship in the land as well as the refusal of the federal government to implement agreement reached with the unions.
But Tinubu came hard on the Labour in the course of his remark, saying Labour Union should understand that despite its acclaimed right and freedom, it cannot fight an administration which is just nine-month old.
This is just as Tinubu stated that there was no going back on his reforms despite resistance by those he called ‘smugglers’.
He also reiterated that corruption is fighting back and vowed that the government would exterminate corruption.
Tinubu said the current hardship occasioned by the removal of fuel subsidy and the unification of the exchange rate is temporary, begging Nigerians to persevere.
“There is very bright light at the end of the tunnel. Nigeria will be out of economic problem, we just need to persevere and work hard,” the President declared.
But facing the Labour, he reiterated that the NLC is not the only voice of the people and warned the congress to maintain peace.
He said, “Allow me to throw a jab here. The Labour Union should understand that you are not the only with freedom and rights.
“If you want to participate in the electoral process, meet us in 2027. If not maintain peace. You are not only voice of Nigeria.”
The President said the commissioning of the red line was the culmination of the vision he nursed 25 years ago when he was governor of the state, calling for more collaboration between the Ministry of Transport and other states to develop railway infrastructures across the country.
As part of effort to tackle traffic congestion and create a world class intracity transport experience, the 37 Kilometer Red Line rail project in Lagos State has been inaugurated.
The project was inaugurated by president Bola Tinubu on Thursday.
The North South rail route project will run from Agbado in Ogun state to Marina with 13 stations at Agbado, Iju, Agege, Ikeja, MMIA International, MMIA Domestic, Oshodi, Mushin, Yaba, Ebute meta, Iddo, Ebute Ero and Marina.
It is expected to embark on 37 trips daily, accommodating approximately 500,000 passengers.
Unlike the electric-powered Blue Line, the Red Line will use a diesel-powered system known as Diesel Multiple Unit (DMU). The Blue Line opened on September 4, 2023.
The rail system is managed by the Lagos Metropolitan Area Transport Authority (LAMATA)
Initial estimates of the Red Line project, was pegged at the cost of $135 million under the Greater Lagos Urban Transportation Project.
However, Governor Babajide Sanwo-Olu, revealed that both the Blue and Red Lines combined would exceed N100 billion. The construction of the project was handled by China Civil Engineering Construction Corporation (CCECC).
The idea of developing a rapid transit in Lagos state was conceived in 1983 with the Lagos Metroline network by Alhaji Lateef Jakande during the Second Nigerian Republic. The initial Metroline project was cancelled in 1985 by Muhammadu Buhari at a loss of over $78 million to the state tax payers.
However, in 2003, the then-governor Bola Tinubu revived the rail network for Lagos State with a formal announcement of its construction.
After the commissioning, Tinubu will depart Lagos for a two-day official visit to the State of Qatar on the invitation by His Highness, Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar.
Renowned political economist Professor Pat Utomi has said opposition political parties in Nigeria are not living up to expectations.
He said the opposition political parties should be at the forefront of protests against hardship and suffering in the country.
He said they have failed in their responsibilities as opposition parties as they standby while the ruling party gets away with disastrous management of the nation’s affairs as the citizens grapple with worsening economic hardship and cost of living crisis.
Utomi voiced his displeasure in a post on his X handle on Thursday.
He said labour unions are now the ones leading protests because political parties are failing.
According to him, opposition parties lead protests in other climes, saying it is why the building of real parties is imperative.
He said: “The protests have come and gone. Power says they are political. What did they expect them to be, apolitical. Labour Unions are acting because political parties are failing. Elsewhere opposition parties lead the protests.This is why the building of real parties is imperative.”
Recall that the Nigeria Labour Congress, NLC, and other related unions protested the high cost of living, inflation, insecurity, and hardship in the country.
The NLC and the Trade Union Congress had issued a 14-day nationwide strike notice to the government over the failure to implement the agreements reached following the removal of the fuel subsidy
The Senate on Wednesday stepped down a bill seeking to confine to life sentence persons involved in drug-related offenses.
The bill which has passed the third reading in the House of Representatives and awaiting concurrence of the Senate seeks to Strengthen The Operations of the NDLEA, Empower the Agency To establish Laboratories, and Update the List of Dangerous Drugs
Presenting the proposed amendment for consideration, leader of the senate Opeyemi Bamidele says the bill will further review Penalty Provisions and enhance the power of the agency to prosecute drug-related Offences
The bill proposes that, any person who without lawful authority-
imports, manufactures, processes, plants, or grows drugs popularly known as cocaine, LSD, heroin, or any other similar drugs shall be sentenced to imprisonment for life.
The bill further states that exporters, transporters or traffickers of drugs shall be sentenced to imprisonment for life
It further stipulates imprisonment for life for anyone who sells, buys, exposes, or offers for sale or deals in drugs
It also proposes a term not less than fifteen years but not exceeding 25 years for inhaling or injecting drugs.
“Persons who unlawfully permit or use premises for the storing, concealing, processing or dealing in the drug will be liable on conviction to be sentenced to imprisonment for a term not exceeding 25 years”
Former Plateau State governor, Senator Simon Lalong in his contribution
says the Bill “is timely, as he also raised concern on the need for the classification of offenders based on the quantity of drugs caught with
Senator Lalong disclosed that the Drug Barons are patronized by high-class individuals in the society.
He called for a holistic approach in tackling the menace
The Senate thereafter tasked its committee on judiciary and narcotics to ensure wide consultation on the Bill ahead of the next legislative day.