Connect with us

News

Reps move to issue arrest warrant against Binance CEO

Published

on

The House of Representatives Committee on Financial Crimes has recommended the arrest of the Chief Executive Officer of Bianace Holding Ltd over alleged tax invasion and money laundering in Nigeria.

The recommendation followed a motion by Rep. Isah Dogonyaro (APC- Jigawa state) at a public hearing on Monday in Abuja.

The hearing was on a petition by Empowerment Fund for Nigerian Youth Initiative and the Niger Delta Youth Council of Nigeria on several crimes allegedly committed by Bianance.

Binance is an online financial company, operating in the cyber space of Nigeria for more than six year with not less than 20 million Nigerians on the platform.

Moving the motion, Dogonyaro said that the committee earlier invited the CEO of Binance to appear and respond to questions on terrorism, tax invasion and money laundering against the company but failed to appear.

He said that the committee gave another chance to enable the Bianance executive appear on March 4, 2024 but have refused appear again.

According to him, the refusal to appear is an insult on this committee and on the Nigerian people.

In his response, the Legal Council to Bianance, Mr Senator Ihenyen said that the company had responded in writing to all the allegations leveled against the company.

He said that the company was also ready to provide more answers in writing if the need arises in the cause of the hearing.

Ihenyen, however, explained that the company  was concerned over the safety it’s officials in Nigeria following the recent arrest of two senior officials of the company.

The counsel explained that two top officials of the company who came to Nigeria were arrested by the office of the National Security Adviser.

In his ruling, your Chairman of the committee, Rep. Ginger Obinna (LP-Abia) said that the committee had taken a position on it’s last sitting not to entertain legal representation from Binance.

He said that the leadership of Binance should be arrested and be brought to the committee to answer questions of the grave allegations leveled against the company in a petition brought to the committee.

“This committee has resolved to recommend to the house to invoke its constituonal powers by issuing a subpoena and a warrant for Binance executives to be arrested and brought to this committee to answer these questions on terrorism, money laundering and other financial crimes as stated in the petition including evasion of tax,” he said.

The chairman thanked the petitioners for unearthing the grievous financial crimes and the exploitation of 20 million young Nigerians in the last six years.

News

Traders, soldiers clash at Banex Plaza in Abuja

Published

on

The Federal Capital Territory Police Command has deployed intelligence officers to Banex – an electronics and telecommunications gadgets market, in Abuja following a conflict that ensued between soldiers and some traders on Saturday.

A viral video seen by our correspondent on X on Saturday showed a multitude of civilians overpowering some soldiers during a free-for-all fight at Banex.

The Defence Headquarters, and the spokesperson for the Nigerian Army, Onyema Nwachukwu could not be reached for comments as of press time.

Meanwhile, a trader who simply identified himself as Abdul, told our correspondent on Saturday that the conflict ensued over the sale of a mobile phone.

“There’s a problem at Banex now. Some soldiers came to complain about a phone, and during an argument with the traders, a fight ensued,” Abdul simply revealed.

When contacted over the development, the spokesperson for the FCT Police Command, SP Josephine Adeh said the Commissioner of Police, Benett Igweh has deployed officers of the FCT Intelligence Response Team to the scene of the incident.

“The CP has deployed the Intelligence Response Team to the scene,” Adeh confirmed.

Continue Reading

News

Idris congratulates newly-elected APRA executives

Published

on

The Minister of Information and National Orientation, Mohammed Idris, has felicitated the newly-elected Executive Council of the African Public Relations Association (APRA), elected at the 35th APRA Annual Conference and Annual General Meeting (AGM), which was held in Abidjan, Côte d’Ivoire from May 13- 18, 2024.

The Minister, also a Fellow of APRA, acknowledged the significance of the election for the advancement of public relations across Africa, adding that while it is a pivotal moment for APRA, the collective expertise, and leadership of the newly-elected Executive Council would be instrumental in attaining the long-term vision of the association.

The new APRA Executive Council comprises Arik Karani from Kenya as President, Dr. Michele Mekeme from Cameroon as Vice President, and Dr. Omoniyi Ibietan from Nigeria as Secretary-General.

Idris urged the new Executive Council to “continue the trajectory of reforms in APRA,” stressing the importance of expanding the democratic space by encouraging greater participation of national public relations institutions across the continent.

He highlighted the need for inclusivity and collaboration to strengthen the public relations profession in Africa.

The Minister also called on the Executive Council to work closely with the African Union Commission and the Council of Ministers to ensure that public relations remains central to policy formulation, programme execution, and project implementation.

“Public relations should be at the heart of policy, programs, and project implementation,” he stated.

He also extended his salutations to Dr. Omoniyi Ibietan, the Head of Media Relations at the Nigerian Communications Commission (NCC), on his emergence as the Secretary-General of APRA.

“Dr. Ibietan is a thoroughbred journalist, public relations expert, and author, who is expected to bring his enormous wealth of experience to bear on APRA positively,” Idris said.

Continue Reading

News

Airtel wins big at maiden ICAN-NGX awards

Published

on

Airtel Africa, the leading telecommunications provider in Africa with its stock trading on the Nigerian Stock Exchange (NGX), emerged as a major winner at the inaugural edition of the ICAN-NGX Awards, carting away the Most Outstanding in Financial Reporting and the overall gold across all categories, amidst other nominations.

These honors were announced at a special ceremony held on Friday, 17th May 2024, at the NGX headquarters in Lagos.

Organized by the Institute of Chartered Accountants of Nigeria (ICAN) in collaboration with NGX Regulation Limited (NGX RegCo), the awards recognized excellence in corporate reporting among the top 30 most capitalized companies listed on the Nigerian Stock Exchange for the 2022 financial reporting year.

Airtel Africa stood out among other nominees in the areas of Financial Reporting, Corporate Governance, and Sustainability Reporting.
In the highly competitive Financial Reporting Category, Airtel Africa was recognized as Most Outstanding, edging out industry giants such as Dangote Cement Plc, Dangote Sugar Refinery Plc, MTN Nigeria Communications Plc, Seplat Energy Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Company Plc.

Speaking on the awards, Group Chief Executive Officer, Airtel Nigeria, Carl Cruz, expressed gratitude for the awards while restating the organization’s enduring commitment to promoting transparency and accountability for the benefit of all stakeholders.

“At Airtel, we strive to set the benchmark for excellence in financial reporting and corporate reporting, and these awards validate our efforts in this regard. We have been deliberate in maintaining a painstaking dedication to transparency for the sake of our shareholders, which is also how we keep our promises to our shareholders,” he said.

Airtel Africa also received the Gold Award in the Corporate Reporting Category. This award, according to Mr. Cruz, underscored Airtel’s culture of fair business practices.

“Today’s recognition reminds us to keep upholding the fundamental principles of integrity, accountability, and ethical conduct across all facets of its operations,” he noted.

In his remarks at the award ceremony, the Chief Executive Officer, NGX Regulation Limited, Mr. Olufemi Shobanjo, stressed the significance of the award, highlighted the importance of transparency and accountability in building a more productive market environment.

“It is noteworthy that integrity is an important drive in ensuring a successful business. In this vein, the Corporate Reporting Award underscores our collective commitment to fostering a capital market that operates on principles of transparency, integrity, and excellence,” he said.

While sharing this positive sentiment regarding the awards, Innocent Okwuosa, the 59th President of the Institute of Chartered Accountants of Nigeria (ICAN), expressed optimism about the future of corporate reporting in the country.

“As sustainability evolves and with Nigeria adopting IFRS S1 and S2 of International Sustainability Standard Board (ISSB),” he said, “it is expected that the corporate reporting in Nigeria will get better and better.”

Airtel Africa remains committed to promoting accountability, transparency, and sustainability in its operations.

Continue Reading

Trending