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Breaking : Reps Call for Subpoena and Arrest of Binance Executives Over Financial Crimes

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The House of Representatives Committee of Financial Crimes has resolved to recommend that the House invokes its powers to subpoena and arrest executives of Binance.
This followed the failure of executives of the company to appear in an investigation hearing by the Committee on Monday, March 4.

Chairman of the Committee, Hon Ginger Obinna Onwusibe, said the executives of the company were to appear before them to answer questions on a petition that borders on the financing of terrorism, money laundering, tax evasion, and other financial crimes.

Onwusibe frowned at the legal representation sent by the company for the hearing.

He said at the last session it was resolved that the officials must appear by themselves.

But the lawyer representing Binance, Senator Ihenyen, said among other reasons executives of the company which is not based in the country were apprehensive because two of their executives were arrested recently and are still in custody.

Hon Obinna said: “Binance is not here. We have taken a position on it in our last sitting that we are not going to entertain legal representation from Binance and that position stands.

“Based on the fact that Binance is not here, we need to make a recommendation to the House of Representatives for the House to invoke its powers of subpoena to issue a warrant for the leadership of Binance to be arrested and be brought to this Committee to answer questions of the grave allegations levelled against them in the petitions brought to us by the Empowerment for Unemployed Youths and Niger Delta youths Council.

“This Committee has resolved to recommend to the House to invoke its constitutional powers by issuing a subpoena and a warrant for Binance executives to be arrested and brought to this committee to answer these questions regarding relationship financing of terrorism, money laundering, and other financial crimes as stated in the petition including evasion of tax.

“We thank the petitioners for unearthing these grievous financial crimes going on in this country for more than six years now. Binance has been operating in the financial space of this country for more than six years and they have not less than 20 million Nigerians that they are exploiting.”

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BREAKING: Supreme Court Rejects FG Pardon, Upholds Maryam Sanda’s Death Sentence

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The Supreme Court has overridden the pardon granted by President Bola Tinubu to an Abuja-based house wife, Maryam Sanda, who was in 2020 sentenced to death by hanging for killing her husband, Bilyaminu Bello, during a domestic dispute.

President Tinubu had reduced Sanda’s sentence to 12 years imprisonment on compassionate ground.

But in a judgment a on Friday, the Supreme Court, in a split decision of four-to-one, affirmed the death sentence handed Sanda by the Court of Appeal, Abuja which upheld the decision of a HIgh Court of the Federal Capital Territory (FCT), sentencing her to death by hanging.

The Apex Court resolved all the issues raised in the appeal she filed against her and dismissed the appeal for being without merit.

Court orders woman accused of killing husband to enter defence
Justice Moore Adumein held in the lead judgment, which he personally delivered, that the prosecution proved the case beyond reasonable doubt as required, adding that the Court of Appeal was right to have affirmed the judgement of the trial court.

Justice Adumein held that it was wrong for the Executive to seek to exercise its power of pardon over a case of culpable homicide, in respect of which an appeal was pending.

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He Was Visibly Upset’: Tinubu Orders Clearance of N1.5tr Contractors’ Debt — Onanuga

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….Inter-ministerial panel to fix payment delay

President Bola Ahmed Tinubu has directed the payment of N1.5 trillion owed to local contractors.

He raised a multi-ministerial panel to provide a permanent funding solution during yesterday’s Federal Executive Council (FEC) meeting.

Presidential spokesman Bayo Onanuga said the President was ‘visibly upset’ about the situation.

Onanuga said: “He made it very clear he was not happy and wants a one-stop solution.

“The President expressed grave displeasure about the fact that contractors are being owed.”

According to him, the Director-General of the Bureau of Public Procurement (BPP), Dr. Adebowale Adedokun, briefed the Council on the magnitude of outstanding obligations, prompting the President’s directive to constitute a multi-ministerial team to clear the backlog and come up with a funding plan.

Members of the committee are: Minister of Finance and Coordinating Minister of the Economy Wale Edun, Budget and Economic Planning Minister Atiku Bagudu, Works Minister Dave Umahi, Education Minister Olatunji Alausa, Housing Minister Ahmed Dangiwa and Marine and Blue Economy Minister Gboyega Oyetola.

Others are the Director-General of the Budget Office of the Federation Tanimu Yakubu, and the Federal Inland Revenue Service (FIRS) Executive Chairman, Dr. Zacch Adedeji.

Onanuga added: “All of them are expected to sit down, develop a plan as a committee, and then go to the President to tell him the solution they have found in allocating funds to pay contractors.”

He explained that the President was determined to “find the money and fix the problem,” even hinting that the government could borrow to settle verified obligations if necessary.

The development followed weeks of pressure from contractors, who have repeatedly protested delays in payment of certified arrears.

In September, the All Indigenous Contractors Association of Nigeria (AICAN) claimed during demonstrations in Abuja and at the National Assembly that more than N4 trillion was outstanding for 2024 capital projects.

The Ministry of Works had previously acknowledged a significant backlog and launched a verification exercise in January last year to account for roughly N1.5 trillion in unpaid federal highway contracts.

The issue has been further complicated by overlapping budget cycles, with 2024 capital components rolling into 2025.

Last month, the National Assembly approved an additional N1.15 trillion in domestic borrowing to help cover a widened 2025 deficit.

The government also tapped into the international markets with a $2.35 billion Eurobond to bolster its financing needs.

Also on December 3, members of the AICAN got an audience with Edun on the second day of their protest at the Ministry of Finance.

The protesters demanded payment for the contracts they executed for the Federal Government in 2024.

Also yesterday, Umahi expressed the Federal Government’s resolve to engage reputable indigenous contractors in the execution of critical infrastructural projects.

He dropped the hint during an inspection of the reconstruction of the Abuja-Keffi Highway.

The minister expressed satisfaction over the quality of the works on the road, which was awarded for reconstruction in October to JRB Construction Company Limited, an indigenous contractor.

The Abuja-Keffi dual carriageway project is a critical infrastructure development that aims to improve road connectivity and reduce travel time to Nasarawa State where most of the federal civil servants working in Abuja reside.

The project is expected to be completed in March.

The minister said: “This is the kind of organisation that will grow this country. Be assured that Mr. President is aware of what you are doing. And you are going to be paid to the last kobo.”

Umahi reiterated the government’s commitment to empowering indigenous companies.

He added: “We will continue to support and empower indigenous companies that have the capacity to deliver high-standard projects and contribute to the growth and development of the country.

“The recognition of JRB Construction Company Limited is a testament to the company’s exceptional performance and commitment to delivering high-standard projects.

“The company’s reputation as one of the top indigenous construction companies in Nigeria has been reinforced, and it is expected to continue to play a critical role in the development of infrastructure in the country.”

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UPDATE: Tinubu Restates Directive on Withdrawal of Police Escorts from VIPs

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…orders engagement of NSCDC to replace police on VIP guard duties

…seeks conversion of grazing reserves to ranches

President Bola Ahmed Tinubu on Wednesday reaffirmed his directive that police officers currently attached to VIPs be withdrawn and redeployed to conflict-prone areas, insisting that the nation cannot afford to keep essential security manpower away from pressing security theatres.

The President restated the order just before the commencement of the Federal Executive Council (FEC) meeting at the State House, tasking relevant security agencies to immediately implement the directive to strengthen the ongoing fight against terrorism, kidnapping, and violent criminal activity across the country.

“I honestly believe in what I said, and I called the IGP… If you have any security problems because of the nature of the assignment, please contact the IGP and get my clearance,” President Tinubu said, pointing out that exceptional cases would be treated with approval.

He directed that the Ministry of Interior liaise with the Inspector General of Police and the Nigeria Security and Civil Defence Corps (NSCDC) to replace police personnel withdrawn from VIP protection duties.

“The Minister of Interior should liaise with the IGP and Civil Defence structure to replace those police officers who are on special security duties, so that you don’t leave people exposed,” he said.

The President further instructed the National Security Adviser (NSA) and the Department of State Services (DSS) to form a committee to review the structure and ensure full implementation of the redeployment plan.

“NSA and DSS to provide further information and form themselves into a committee and review the structure. It should be effected,” he said.

Expressing concern over the rising incidents of kidnapping and terrorism, President Tinubu stressed that all available manpower must be channelled to areas of need.

“We face challenges here and there of kidnapping and terrorism; we need all the forces that we can utilise,” he stated.

While acknowledging that special circumstances may require security considerations for some individuals, the President insisted that other armed formations must take up such responsibilities.

“I know some of our people are exposed… civil defence are equally armed and I want to know from the NSA to arm our forest guards too. Take it very seriously,” he added.

On the livestock sector, President Tinubu instructed Vice President Kashim Shettima to begin, through the National Economic Council (NEC), the process of identifying grazing reserves that can be rehabilitated into ranches or livestock settlements, describing the reform as a crucial step in ending perennial herder–farmer conflicts.

“Again, especially livestock reform, I think the Vice President should get the NEC first of all to see which villages or grazing reserves can be salvaged or rehabilitated into ranches, livestock settlement.” he said.

The President stressed that converting grazing areas into viable agricultural and commercial hubs would create jobs, expand economic opportunities, and end conflict cycles.

“We must eliminate the possibility of conflicts and turn the livestock reform into economically viable development. The opportunity is there, let’s utilise it,” he noted.

He reminded state governments of their constitutional authority over land and urged them to cooperate in the process.

“If we emphasize the constitutional requirement which says the land belongs to the states… whichever one they can salvage, convert to a livestock village or herders’ village. Let us stop this conflict area and turn it into economic opportunities and prosperity,” the President said.

The renewed directive comes amid the administration’s ongoing security overhaul and the push to modernise Nigeria’s livestock industry as part of broader agricultural reforms under the Renewed Hope Agenda.

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