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By backing Obi’s presidential bid, do you support removal of petrol subsidy?, APC campaign council asks NLC

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The presidential campaign council of the All Progressives Congress (APC) has asked the Nigeria Labour Congress to state its position on petrol subsidy.

The NLC is among the groups that have declared support for the presidential bid of Peter Obi, candidate of the Labour Party (LP).

On Monday, Ayuba Wabba, NLC president, while speaking at a retreat of the LP, said the union will mobilise its members across the 774 LGAs to achieve victory for Obi in the 2023 presidential election.

Obi had said part of his plans if he becomes president, would be to remove petrol subsidy.

“Going forward, we must look for ways to move Nigeria beyond oil. We must end this criminality called ‘oil subsidy’,” he had said.

Over the years, the NLC has protested against the plan by the government to remove petrol subsidy.

In November 2021, the government announced the plan to remove petrol subsidy, but it was met with a pushback from key stakeholders, including the NLC which threatened to embark on a nationwide protest.

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In January, the Federal Government postponed the plan indefinitely, citing “high inflation and economic hardship”.

In a statement issued on Saturday, Festus Keyamo, spokesperson of the APC presidential campaign council, said by supporting Obi’s presidential bid, the NLC should disclose its current position on petrol subsidy.

“We note that the leadership of the organized labour under the aegis of the Nigeria Labour Congress (NLC) on Monday, September 13, 2022, at a national retreat of the Labour Party in Abuja, promised to mobilise its members across the 774 local government areas in Nigeria to ensure victory for Labour Party presidential candidate, Mr. Peter Obi, in next year’s presidential election,” the statement reads.

“We also note that in several interviews he granted in the last few months and weeks, Mr Peter Obi has vowed to totally remove subsidy on petrol if elected President. We also note NLC’s long-standing opposition to the total removal of fuel subsidy. Other left-leaning supporters of the Labour Party were also present at the event to cheer Mr Peter Obi.

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“Consequently, the following questions are urgently begging for answers by the leadership of the NLC:

“Before adopting Mr Peter Obi as its candidate, did the leadership of the NLC have a discussion with him on the issue of removal of fuel subsidy?

“If they did have that discussion, did Mr. Peter Obi agree to back down on the issue of subsidy removal? Was that a basis for supporting him? If he did not back down on the issue, did organised Labour agree with him?

“If no such discussion is held, does it mean the leadership of the NLC now fully supports the removal of fuel subsidy? Or will that not be reckless of the NLC to adopt a candidate without thoroughly interrogating the candidate on his policies as they affect the Nigerian workers or the masses? The NLC must make a public statement and come clean on this.

“If the excuse is that Mr Peter Obi has said that the money saved will be used in other critical areas of the economy, how is that different from what Buhari’s Government is also saying?

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“These questions have become necessary because Nigerians deserve to know whether organised Labour’s adopted party, which is the Labour Party, supports and promotes a policy that the leadership of Labour opposes in another breath when it is adopted by the government of the day. They cannot be blowing hot and cold.”

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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…

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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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