Author: Vincent Osuwo

The House of Representatives Committee on Financial Crimes has summoned the CEO of Binance Holding Limited, Richard Teng, over alleged terrorism financing and money laundering. On Friday, at a panel, the committee’s chairman, Ginger Onwusibe, issued a seven-day ultimatum to Binance Holdings LTD. management to come before the committee on or before March 4, 2024. The Central Bank of Nigeria has highlighted Binance, an online exchange where users trade cryptocurrencies, as being involved in money laundering, among other things. However, Onwusibe warned that if Binance Holdings fails to respond to the summons, the committee will be forced to use its…

Peter Obi, the candidate of the Labour Party (LP) in the 2023 presidential election, has lamented over the continuous loss of profit by business organizations in the country.  Obi called for a more favorable business environment to enable local and international businesses to thrive. Obi, who made the call while reacting to the financial losses of Nestle Nigeria and telecom giant MTN, noted that these losses are the “result of our worsening business environment.” In a statement on Saturday, the former governor of Anambra State lamented that the continuous fluctuation of the value of the naira in the Nigerian foreign…

The remains of Nollywood actor Quadri Oyebamiji, well known as Sisi Quadri, were interred on Saturday in his birthplace of Iwo. Chronicle NG reports that the actor died on Friday while being admitted to the Ladoke Akintola University of Technology Teaching Hospital in Ogbomoso. According to reports, the actor’s body was transported from Ogbomoso to Iwo late on Friday, and prayers were held in an open field near his home before his burial. Following prayers seen by a large gathering of community residents, colleagues, and well-wishers, his remains were buried in front of his residence in Iwo’s Agbowo Area. Toyin…

Doctor William Folohunso Kumuyi, General Superintendent of the Deeper Life Bible Church, has advised Christians not to give their contributions to the church but rather to the destitute and unemployed in their community. Kumuyi, who made the statement in a viral video, was heard urging his church audience that Christians should not spend all of their money on church construction but rather aid their needy neighbours who cannot buy basic necessities. Kumuyi recounted how a preacher directed his congregation to donate money to the destitute and unemployed in their community. Kumuyi stated that when building the church, Christians should remember…

The Southwest Youth Advocacy Network has accused Wale Edun, the finance minister, of undermining the federal government’s fight against poverty. In a statement issued by its convener, Comrade Seun Adeaanu, the organization urged the president to take action against Edun’s recent questionable moves. The organisation was deeply concerned about the intended relocation of the National Social Investment Programmes (NSIP) and other acts made by the minister, as reported by The Cable. The group said, “The decision to transfer the NSIP from the Ministry of Humanitarian Affairs and Poverty Alleviation to the Ministry of Finance and Coordinating Economy is unacceptable and…

Prisoners in the Jos Correctional Centre in the Plateau State capital protested the plan to reduce their food ration on Friday. According to reports, the protest stemmed from a tip-off about a reduction in their food size. The rising cost of living in the country spurred protests, with youths and women from all across the country taking to the streets to express their worries, joined by the Nigerian Labour Congress to protest the economic problem. Protesting the development, the prisoners reportedly refused to take commands from correctional personnel while skipping breakfast. Custodial officers, on the other hand, deployed tear gas…

Alhaji Aliko Dangote, the founder, chairman, and CEO of the Dangote Group, has been described as “one of the biggest scams in Nigeria.” In a statement on X on Saturday, Ola Mi Lekan, a social media influencer, alleged that the business magnet has been lying to Nigerians about production in his refinery. Ola Mi Lekan’s statement comes on the heels of a report that Dangote Refinery has increased its stockpile of imported crude oil from the United States as a second cargo left American waters for Nigeria on Friday. A second shipment of US light sweet crude oil was scheduled…

The Central Bank of Nigeria (CBN) on Friday revoked the licences of 4,173 Bureau de Change operators over their failure to meet regulatory guidelines. Sidi Hakama, the acting director of corporate communications at the top bank, made the announcement in a statement. As a result, 1,517 BDCs will be operating, up from 5,690 initially. However, when reached for remarks on the development, Aminu Gwadabe, President of the Association of Bureau De Change of Nigeria, told newsmen that he wanted to pray a few minutes before 8 p.m. Subsequent calls to his line were not answered. According to the CBN statement,…

Former Nigerian midfielder John Obi Mikel has stated that Napoli star Victor Osimhen ‘wants to come to Chelsea’ ahead of the summer transfer window. The 25-year-old Nigerian striker is widely anticipated to depart Partenopei at the conclusion of the season, having recently told the media that he has ‘already decided’ on his future move. He signed a new deal with Napoli in December, with a release clause of €120–130 million. Osimhen has been heavily linked with a move to the Premier League this summer, with Chelsea, Arsenal, and Manchester United among the potential suitors. Mikel, speaking at the Web Summit…

Ugo Chapele, a sports journalist with Wazobia FM and dubbed ‘Suo The Queen of Sports,’ is seeking justice at Lagos’ Bode Thomas Magistrate Court after being brutalised by a motorist identified as Wisdom Moses, his pregnant wife, and brothers on her way home from work. Chapele provided pidgin English match commentary at the 2022 World Cup in Qatar. According to eyewitnesses, a car broke down on the Lekki-Epe highway, and a truck from the Lekki Concession Company attempted to pull it off the road, causing motorists to drive slowly. The eyewitness stated that Moses slammed his car into Chapele’s from…