General
Court Remands Binance Staff Tigran Gambaryan in Prison
By Adedapo Adesanya
The Federal High Court in Abuja on Monday ordered the remand of a top executive of crypto company, Binance, Mr Tigran Gambrayan, in a prison in Abuja after postponing the hearing of his bail application for the next 10 days.
The judge, Justice Emeka Nwite, ordered Mr Gambaryan to be remanded in prison pending the hearing of his bail application, expected to come up on April 18.
Mr Nwite issued the remand order after the defendant’s arraignment on five counts of money laundering on Monday.
The judge, in issuing the order, agreed with the contention of the prosecution that the appropriate place of remand of a defendant after arraignment is the correctional centre.
The Economic and Financial Crimes Commission (EFCC) had, on March 28, charged Mr Gambaryan alongside Binance and another of the company’s top executives, Mr Nadeem Anjarwalla. However, following the latter’s escape, only Mr Gambaryan was available for arraignment before the trial judge on Monday.
The anti-graft body alleged in the charges that Mr Gambaryan’s colleague and co-defendant, Mr Anjarwalla, who reportedly escaped from lawful custody in Abuja last month, was on the run.
Mr Gambaryan pleaded not guilty to the five counts charged by the EFCC when read to him in open court on Monday.
The judge recorded a plea of not-guilty plea for Binance, based on the request by the prosecuting lawyer, Mr Ekele Iheanacho.
In the five counts, EFCC accused the three defendants of committing money laundering offences involving $35.4 million.
In February, both Binance executives flew into Nigeria to resolve the company’s issues with the Nigerian government, which included alleged sabotage of the Naira as the country sought to tackle the volatility of the Naira. Instead, the duo were arrested and placed in custody in the capital.
Last week, Binance asked the Nigerian government to release its detained official, saying he has no power to make decisions in the company. It also filed a human rights violation case in the Federal High Court, demanding their release, a public apology, and the return of their seized passports.
The wife of the detained Gambrayan also called for the release of her husband, weeks after an earlier plea by the spouses of both men.
By Aduragbemi Omiyale
The Conference of Nigeria Political Parties (CNPP) has amplified the call made by the Socio-Economic Rights and Accountability Project (SERAP) for the Nigerian National Petroleum Company (NNPC) Limited to account for an alleged missing N825 billion and $2.5 billion oil money.
Over the weekend, SERAP called on the government-owned commercial company to give an account of the funds believed to be missing.
This demand for accountability has been re-echoed by the umbrella body of all registered political parties and political associations in Nigeria.
The group had “consistently called for the probe of the NNPC and its officials, citing widespread corruption, mismanagement, and lack of transparency in the oil industry.”
In a statement signed by its Deputy National Publicity Secretary, Mr James Ezema, the CNPP said, “Sometime in 1999, the CNPP first raised concerns about the opaque nature of NNPC’s operations, calling for a comprehensive audit of the corporation’s finances.
“Our demands were met with resistance from the government, but we persisted, knowing that transparency and accountability are essential for good governance and the survival of our democracy.”
“Over the years, the CNPP has continued to push for reforms in the oil industry, calling for the sack of successive NNPC management teams, including the current Mele Kyari-led team. We have also demanded the prosecution of NNPC officials implicated in corruption scandals, but our calls have fallen on deaf ears.
“Despite the incorporation of NNPC as a commercial company under the President Muhammadu Buhari administration, the CNPP has maintained that this move was merely a smokescreen to perpetuate corruption. We insisted that the same management team remained in place and that the incorporation was an incorporation of corruption.
“The CNPP’s demands for accountability and transparency in NNPC Limited are therefore not new. We have been consistent in our calls for an independent forensic audit of NNPC Limited since 1999. We believe that it is in the best interests of the Nigerian people for NNPC Limited to open its accounts for a thorough audit, and all unremitted revenues traced, recovered and remitted to the Federation accounts.
“For us, the recent demand by the Socio-Economic Rights and Accountability Project (SERAP) for NNPC Limited to account for the alleged missing N825 billion and $2.5 billion is a welcome development. The CNPP wholeheartedly supports SERAP’s demand and calls on NNPC Limited to meet the demands without delay.
“We urge the Federal Government to take immediate action to address the allegations of corruption and mismanagement in NNPC Limited. The time for transparency and accountability is now, and we will continue to push for reforms in the oil industry until Nigerians can reap the benefits of their country’s rich natural resources.
“The CNPP warns that Nigerians will continue to suffer hardships until NNPC Limited begins to operate transparently and remit all revenues to the Federation accounts, thereby ending the yearly borrowings to finance Nigerian budgets, which have worsened since 2015.
“We call on all Nigerians to join other civil society bodies and concerned groups in demanding accountability and transparency in NNPC Limited. Together, we can push for reforms and ensure that our country’s natural resources are used for the benefit of all, not just a privileged few,” the statement said.
By Modupe Gbadeyanka
The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has been urged to extend the deadline for the payment of Certificates of Occupancy (C of O) by property owners in Abuja.
This plea for an extension was asked by the Conference of Nigeria Political Parties (CNPP) through a statement signed by its Deputy National Publicity Secretary, Mr James Ezema.
The group said the initial two-week grace period given to the affected allottees, which expired on Friday, January 3, 2025, was insufficient, considering the current economic challenges facing the country.
Recall that after public outcries, Mr Wike, who is the immediate past governor of Rivers State, granted an extension to the owners of the 762 revoked plots of land in Maitama, Abuja.
“We are appealing to the Minister and the Federal Capital Territory Administration (FCTA) to tamper justice with mercy and issue an extension in the spirit of the yuletide and in view of the economic challenges in the country,” the association stated.
It stressed that the extension would give the affected individuals and groups ample time to comply with the directive, thereby avoiding any undue hardship or loss.
“We pray that the Minister and the FCTA will grant the allottees an extension to comply with the directive, giving all the affected individuals and groups enough time to have themselves to blame at the end of the final extension,” the statement added.
The CNPP’s appeal comes on the heels of its recent expression of concern over the escalating hunger and suffering faced by millions of Nigerians due to the economic realities in the country.
By Adedapo Adesanya
The All Farmers Association of Nigeria (AFAN) has dissociated itself from an unofficial viral statement by one of it members, regarding posters indicating activities of the organisation.
The group dissociated itself from the member in a statement signed by its National President and the National Secretary, Mr Kabiru Ibrahim, and Mr Yunusa Halidu, respectively.
“This post is made by an authorized member, Ado A Ado Kano.
“The opinions and views expressed here are those of the author and do not reflect the official policy or position of the group, its administrators, or other members.
“For official statements, please refer to AFAN official contact or platform,” parts of the statement made available to Business Post stated.
According to AFAN, the unofficial posters flying around doesn’t represent the association, noting that Mr Kano is not authorized by AFAN or its officials but those of the author.
AFAN is the umbrella organisation for all farmers’ commodity associations in Nigeria.
Its vision and mission are to assemble all Nigerian producers into one organization, providing a single interlocutor for the government to address agricultural issues with the farming community.
AFAN was formed by the merger of the All-Farmers Association of Nigeria (ALFA) and the National Farmers’ Association of Nigeria (NAFAN). The merger was recommended by former Nigerian president, Mr Olusegun Obasanjo.
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