The House of Representatives has launched an investigation into the escape of Nadeem Anjarwalla (Head of Binance Africa) from the custody of the National Security Adviser.

The resolution followed a motion of urgent public importance moved by Dennis Okafor on Wednesday during plenary.

It would be recalled that Mr Anjarwalla and Tigran Gambaryan were detained in Abuja before the former escaped out of custody and subsequently fled the country.

In the motion, Okafor said the escape of Anjarwalla from custody was an embarrassment to Nigeria.

He prayed the House to investigate the circumstances that led to the escape.

Meanwhile, the House also denied the alleged soliciting of bribes from some persons.

Kama Nkem Kanma raised a point of order on privilege, stating that the House cannot be embarrassed.

Although the lawmaker did not mention Binance, however, it would be recalled that the CEO of Binance, Richard Teng recently accused some members of the House of demanding bribes from them.

Teng, in a blog he posted on X on Tuesday, accused the House of Representatives Committee on Financial Crimes of demanding money during a probe.

Kanma said the House never made such a demand from Binance and called for strong action.

Ruling on the point of order, Speaker Tajudeen Abbas ordered the Clerk of the House, Yahaya Danzaria to use the media to refute the claim.

The Trade Union Congress of Nigeria (TUC) has threatened a shut down of the economy over the plan to begin implementation of the 0.5 per cent cyber security levy on electronic transactions.

The body urged the Federal Government to direct the Central Bank of Nigeria (CBN) to withdraw its directive to financial institutions on the issue, to avert the shutdown.

The union’s President, Mr Festus Osifo, gave the warning in a statement on Wednesday.

CBN had recently, directed banks to implement the 0.5 per cent cybersecurity levy on electronic transactions from May 20.

The apex bank said the directive followed the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024.

It said that the proceeds were to be remitted to the National Cybersecurity Fund which would be administered by the Office of the National Security Adviser.

Osifo described such plan as illogical, coming at a time that Nigerians were grappling with high cost of living.

He said that such high cost of living was imposed by devaluation of Naira, hyper hike in the cost of petrol, supersonic increment in the cost of electricity tariff, among others.

“We are quite disturbed that since the inception of this administration, its policies have brought pain, anguish and sorrow on Nigerians.

“Whereas, a bank account holder in Nigeria today is currently charged stamp duty, transfer fee, VAT on transfer fee, and all forms of account maintenance levies by both government and the banks, this burden seems not to be enough, as government is poised to inflict further pain on the already battered Nigerians.

“So, many policies of this government are not only imposing hardship on the downtrodden Nigerians but also on businesses, as some of them are shutting down because of the unfriendly business environment, “ he said.

The union leader expressed fears that the development would further encourage people to hoard cash at home, reduce financial inclusion, increase poverty and exacerbate misery index.

According to him, all Nigerians are interested in right now is the urgent conclusion of discussions around the minimum wage.

“Not a vexatious policy that is further reducing the already depleted disposable income of the masses and indirectly ridiculing the gain which the minimum wage would have brought to the people when concluded,” he added.

The Economic and Financial Crimes Commission (EFCC) is to arraign former Aviation Minister, Hadi Sirika, before Justice Sylvanus Oriji of the High Court of the Federal Capital Territory (FCT), Maitama on Thursday.

Sirika, a minister in the administration of former President Muhammadu Buhari, would be arraigned on a six-count amended charge.

He will be arraigned alongside three others, including his daughter, Fatima; Jalal Hamma and Al-Duraq Investment Ltd, for abuse of office to the tune of N2.7 billion.

Part of EFCC investigations into the financial malfeasance allegedly committed by the former minister, “including fraudulent contracts awarded by the Ministry under his watch”, led to his detention on April 23 in Abuja.

Sirika was invited by the Abuja Zonal Command of the Commission on the alleged contract malfeasance and was promptly interrogated and detained at the Formella Street, Wuse 2 Zonal office of the Commission.

“The former minister (Sirika) was invited for questioning by investigators handling the alleged contract frauds under his watch in the ministry. He honoured the invitation and has been detained as I am talking with you,” a source in the EFCC who pleaded anonymity, told newsmen.

The source also said that EFCC had been investigating the alleged contract frauds while the minister was in office, and he had even met with investigators before he was detained.