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Gani Adams hails Tinubu’s reform initiatives, says president started on right footing

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…charges FG on state police, social security, others

Aareonakakanfo of Yoruba land, Iba Gani Abiodun Ige Adams, has applauded the various reform initiatives of the President Bola Tinubu administration, saying the president has started on a right footing.

Aare Adams, in a statement he personally signed and made available to the media by his Special Assistant on Media, Kehinde Aderemi, said the new move by Tinubu has shown that the president is in charge of the policy-direction of his administration.

The Yoruba generalissimo noted also that the appointment of the Service Chiefs had reflected the desire of a president that is in tune with the importance of federal character and one that is ready to accommodate all the six- geo political zones in the service of the nation.

He stated that the newly signed electricity reform bill and students educational loans were noble initiatives that would guarantee effective power generation, supply and distribution and also engender growth across all sectors in the states.

“I think President Bola Ahmed Tinubu has started on a right footing and Nigerians are watching with great expectations.

“Leadership is all about service to the people and the president has shown determination with the various reform initiatives he had embarked on since May 29 when he assumed the mantle of leadership as the President and Commander- in-Chief of the Armed Forces of the Federal Republic of Nigeria”.

READ  'You're now father of all,’ Uhuru Kenyatta tells Tinubu

Setting a realistic agenda on the Nigerian economy and education sector, Iba Adams stated also that within the first six months of the Asiwaju Bola Tinubu administration, Nigerians that are unemployed can assess a monthly stipend of fifteen thousand naira (N15,000) each for a recorded 10 million Nigerians that would take care of their upkeep and house rents before they secure employment.

He disclosed that children can also be taken care of through social security initiative as it is done in the developed world.

“The stipend should be on 65/35 ratio.The 65 per cent will go to unemployed Nigerians and 35 per cent for children between the ages of one and 18, and the aged ones specifically the senior citizens who have reached the age of 65 years and above and are not on pension, as well as physically-challenged Nigerians.

“The money can be generated through special tax from Multinational Companies and other investors in Nigeria and a Special Revenue Generation Committee should be established to work on the modalities.This will reduce crime in the country and also reduce the spate of insecurity.

“This committee should also be empowered to stop illegal mining going on in some parts of the country.
“From Zamfara to Oyo, Enugu to Kebbi, Osun to Rivers, illegal miners are on the rampage and government is losing billions of dollars every year.
“It is ridiculous and embarrassing that majority of these perpetrators are foreigners, backed by some unpatriotic and selfish Nigerians.

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“If this menace can be appropriately and effectively tackled with the use of force and legal sanctions, Federal and State Governments will be making tens of billions of dollars yearly. And if this money is judiciously used, majority of the challenges confronting the Nigerian State will become history.
“State government should also support the new education loan for tertiary institutions and ensure that education is free at sub-national levels.

“The recent appointment of the Service Chiefs truly reflected the desire of a president who is ready to run an ‘all- inclusive government’.

Iba Adams added that the oil sector is undergoing a reform that would bring about both immediate and future gains.

“From a reliable source from the NNPC , oil theft costs Nigeria up to $1.9 billion every month and that is about N18 trillion annually in Nigerian currency.

“This is about 85 per cent of the Nigerian budget signed last year by former President Muhammadu Buhari and put to about N21.83 trillion for the 2022 Budget.
“But with effective local security with collaboration with government security agencies, oil theft can be reduced to 20 per cent within six months.

“Mr. President must work out an action plan that will reduce oil theft across the country.

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“The huge amount that had been going down the drain through oil theft should be checked.

“The Federal Government can stop this by creating a special tribunal on oil theft and prosecute people perpetrating economic sabotage”.

He restated the need for a state police to be in concurrent list, while Federal police to be on exclusive list, adding that state police would reduce insecurity in all states.

While urging the new administration under Tinubu to work with the National Assembly and bring about a complete reform in the police, he stated further that efforts should be made to reduce the spate of insecurity and crime across the country.

“Our land border should be opened with effective security in order to stop illegal immigrants and goods from entering our country, and efforts should be made to reduce huge tariffs on imported goods, especially on vehicles coming to the country through our land borders.

“The Federal Government should encourage manufacturers from bringing raw materials that are not produced in the country to aid local production.

“This is possible when the tariff is reasonable for importers.

The Federal Government should stop round tripping in order to strengthen the Nigerian currency and aid forex control in the country.

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UPDATED: Act of blackmail — FG says no official demanded $150m bribe from Binance

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The Federal Government has accused Binance of blackmail after the company alleged officials demanded $150 million in cryptocurrency payments as a bribe to settle the prosecution of its executives in Nigeria.

 

On Tuesday, Richard Teng, Binance’s chief executive officer (CEO), said some unknown persons in Nigeria demanded huge payments in digital currency to make their problems in the country “go away”.

 

Teng’s allegation followed the detention of Nadeem Anjarwalla, Binance’s regional manager for Africa, and Tigran Gambaryan, the company’s head of financial crime compliance, in Nigeria, on February 28.

 

The two executives were detained as part of a probe bordering on Binance’s illegal operations in Nigeria and foreign exchange rate manipulations.

 

While criminal charges have been against Binance and Gambaryan, Anjarwalla fled detention on March 22.

However, Anjarwalla was reportedly arrested by the Police Service in April and the International Criminal Police Organisation (Interpol) is working towards extraditing him to Nigeria.

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In a statement by Rabiu Ibrahim, special assistant to the minister of information and national orientation, the government said the allegation by Binance is an attempt by the cryptocurrency exchange to launder its impaired image as an organisation that does not play by the rules and laws guiding business conduct in sovereign nations.

 

“In a blog post that has now been published by many international media organisations, in an apparent well-coordinated public relations effort, Binance Chief Executive Officer Richard Teng made false allegations of bribery against unidentified Nigerian government officials who he claimed demanded $150m in cryptocurrency payments to resolve the ongoing criminal investigation against the company,” the ministry said.

 

“This claim by Binance CEO lacks any iota of substance. It is nothing but a diversionary tactic and an attempted act of blackmail by a company desperate to obfuscate the grievous criminal charges it is facing in Nigeria.

 

“The facts of this matter remain that Binance is being investigated in Nigeria for allowing its platform to be used for money laundering, terrorism financing, and foreign exchange manipulation through illegal trading.

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“While this lawful investigation was going on, an executive of Binance, who was in court-sanctioned protective custody, escaped from Nigeria, and he is now a fugitive from the law. Working with the security agencies in Nigeria, Interpol is currently executing an international arrest warrant on the said fugitive.”

 

BRIBERY ALLEGATION PART OF ORCHESTRATED INTERNATIONAL CAMPAIGN

The ministry said the bribery allegation is part of an orchestrated international campaign by Binance to undermine the Nigerian government.

 

The ministry said Binance is facing criminal prosecution in many countries including the United States.

 

“Just a week ago, the founder and former CEO of Binance, Changpeng Zhao, was sentenced to prison in the United States, after pleading guilty to charges very similar to what Binance is being investigated for in Nigeria. In addition, Zhao agreed to pay a fine of $50 million, while Binance is liable for $4.3 billion in fines and forfeitures to the US Government,” the government said.

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“We would like to remind Binance that it will not clear its name in Nigeria by resorting to fictional claims and mudslinging media campaigns. The only way to resolve its issues will be by submitting itself to unobstructed investigation and judicial due process.”

 

The ministry said the Nigerian government will continue to act within its laws and international norms and will not succumb to any form of blackmail from any entity, local or foreign.

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‘Act of blackmail’ — FG denies officials demanded $150m bribe from Binance

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The Federal Government has accused Binance of blackmail after the company alleged officials demanded $150 million in cryptocurrency payments as bribe to settle the prosecution of its executives in Nigeria. 

On Tuesday, Richard Teng, Binance’s chief executive officer (CEO), said some unknown persons in Nigeria demanded huge payments in digital currency to make their problems in the country “go away”.

 

More to follow…

READ  Rivers made right choice by voting Tinubu - El-Rufai
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Peter Obi condemns cybersecurity levy, says FG more interested in milking dying economy

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Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 elections, says the federal government is more interested in milking a dying economy through the introduction of the cybersecurity levy.

 

In a post on his X account on Wednesday, Obi said the policies implemented by the government not only drive the citizens into poverty but also diminish the country’s competitiveness in the economic environment.

 

According to Obi, it is unreasonable to expect the struggling citizens of Nigeria to individually finance all government activities.

“The introduction of yet another tax, in the form of Cybersecurity Levy, on Nigerians who are already suffering severe economic distress is further proof that the government is more interested in milking a dying economy instead of nurturing it to recovery and growth,” Obi said.

 

“The imposition of a Cybersecurity Levy on bank transactions is particularly sad given that the tax is on the trading capital of businesses and not on their profit hence will further erode whatever is left of their remaining capital, after the impact of the Naira devaluation and high inflation rate.

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“It is inconceivable to expect the suffering citizens of Nigeria to separately fund all activities of the government. Policies such as this not only impoverish the citizens but make the country’s economic environment less competitive.

 

“At a time when the government should be reducing taxes to curb inflation, the government is instead introducing new taxes. And when did the office of the NSA become a revenue collecting centre?

 

“And why should that purely national security office receive returns on a specific tax as stated in the new cybersecurity law?

 

On May 6, the Central Bank of Nigeria (CBN) directed banks and other financial institutions to implement a 0.5 percent cybersecurity levy on electronic transfers.

 

CBN said the policy would take effect in two weeks and charges would be described as ‘Cybersecurity Levy’.

 

The apex bank said the charges would be remitted to the national cyber security fund, which would be administered by the office of the national security adviser (ONSA).

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