Month: March 2024

Reps to conclude investigation on terrorism financing, money laundering, others against Binance

Emporium Reporters

Barring any last minute change, the House of Representatives Committee on Financial Crimes will evoke its constitutional powers against Binance Holdings Limited if she failed to appear to its public hearing to respond to plethora of allegations of crime and infractions against Nigerians and total disregard for extant laws governing business and financial operations in the country. Binance Holdings Limited, operators of Digital Assets Exchange in Nigeria has been operating in Nigeria over 6 years allegedly without any adherence to financial regulatory frameworks and has been accused of exploiting Nigerians…

JUST IN: FG slams $10 billion fine on Binance

Emporium Reporters

President Bola Ahmed Tinubu-led administration has slammed no fewer than a $10 billion fine on Binance amid a crackdown on the crypto exchange platform in desperate moves to salvage the value of the nation’s local currency.     President Tinubu’s Special Adviser on information and strategy, Bayo Onanuga made this known on Friday morning in an interview with the BBC.   “Binance is fixing enhance rate for Nigeria and it’s illegal. The Central Bank of Nigeria (CBN) is the only authority that can fix the exchange rate in the country.…

Senate directs Police to employ 10 persons each from 774 LGAs

Emporium Reporters

The Senate, on Thursday, directed the Police Service Commission and the Nigeria Police Force to recruit a minimum of 10 candidates from each of the 774 local government councils in Nigeria.   The directive, according to the Upper Chamber, should form part of its annual recruitment processes.   The resolution was reached as a result of a motion moved by Sen. Emmanuel, Udende Memga representing Benue North East, on the need for the Police Service Commission and the Nigeria Police Force, to adhere to the Federal Character Principle in the…

Reps raise 23-man panel on Oronsaye report, demand review

Emporium Reporters

The House of Representatives, on Thursday, described the 2012 Steve Oronsaye Report as outdated and called on President Bola Tinubu to thoroughly review it before going ahead to implement the same.   The House, therefore, raised a 23-man committee chaired by House Leader, Julius Ihonvbere, to recommend appropriate measures to mitigate the likely fallout of the Oronsaye Report review.   The Federal Government had on Monday announced plans to implement the Oronsaye report, which proposed the merger of ministries, departments and agencies, as a measure to cut the cost of…

Hardship: K1 De Ultimate cancels 67th birthday celebration .. seeks help for less privileged

Emporium Reporters

Fuji musician, Wasiu Ayinde Marshal, popularly known as K1 De Ultimate, says he has cancelled the yearly birthday carnival for his 67th birthday on March 3.   K1, however, urged his family and friends to rather use the occasion to reach out to the less privileged in the society.   K1, in a statement on Thursday, said the decision was informed by the current economic situation in the country.   The statement reads: “To the glory of God Almighty, I shall be turning 67 years on this planet earth on…

ECOWAS RAPPROCHEMENT WITH NIGER, MALI, AND BURKINA FASO: STILL FAR FROM UHURU By Law Mefor

Emporium Reporters

The rapprochement of the Economic Commission of West African States, ECOWAS, with the three countries that recently quit the regional body namely, Niger, Mali, and Burkina Faso, is such a welcome development. But many more rivers to cross before it will be once more uhuru with the once 15-member sub-continental body Nigeria’s President Bola Ahmed Tinubu hardly took over as the ECOWAS chairman before he was greeted by the military coup in Niger and later by the exit of the three countries. The validity of Tinubu’s election as President of…

Food Insecurity: Speaker Tajudeen Abbas inaugurates Committee on Nutrition and Food Security

Emporium Reporters

Speaker, Federal House of Representatives, Rt. Hon. Abbas Tajudeen, Thursday 29th February,2024 inaugurated House Committee On Nutrition And Food Security, at National Assembly Complex, Abuja. Speaker Abbas Tajudeen said the Committee was very crucial to the vision of the 9th House of Representatives to “be responsive, results-oriented and effective in performing its constitutional mandate towards the security and welfare of Nigerians’. He said Nigeria, like the rest of the world, is experiencing a food crisis, exacerbated by climate change, rising inflation and pervasive insecurity. Hence, the decision of the House…

Nigerian Senators on Study tour visit Turkey’s electricity plant in Istanbul

Emporium Reporters

On day four of the executive study program of Turkey electricity and exchange, Nigerian Senators went on a tour guide of Turkey’s electricity plant in Istanbul. The lawmakers after a three-day exhaustive lectures on Electricity Distribution and Systems Operator in Turkey-The Energy Exchange (EXIST-EPIAS) on day four visited the Electricity System: Generation, Transmission plant, in Karpowership, Istanbul. Recall that Turkey used more electricity per person than the global average, but less than the European average, with demanded peaking in summer due to air conditioning. Most electricity is generated from coal,…