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Binance’s Bribery Claim An Attempt To Distract Nigerians From Alleged Crimes — Reps Panel

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The House of Representatives committee on financial crimes claims that Binance’s bribery claim is a ploy to deflect criticism away from the purported crimes committed against them in Nigeria.

The largest cryptocurrency company claimed on Tuesday that certain unidentified individuals in Nigeria have requested large payments in digital currency in order to “make their problems in the country go away.”

Background

The house committee on financial crimes has been investigating Binance for multiple crimes, including alleged money laundering, illegal operations, financial terrorism, and tax evasion.

On February 28, the federal government detained two top executives of Binance, as part of a probe into illegal operations in the country and forex manipulations.

The detained executives included Nadeem Anjarwalla, a 37-year-old British-Kenyan and Binance’s regional manager for Africa; and Tigran Gambaryan, a 39-year-old US citizen and Binance’s head of financial crime compliance.

Anjarwalla escaped from custody in March but was reportedly rearrested in Kenya in April.

On March 5, the Nigerian government filed a criminal charge against Binance for “tax evasion”, the same period Anjarwalla escaped detention.

Last Wednesday, the house of representatives denied demanding bribe from Binance, saying “nothing like that has ever happened”.

‘Binance Blackmailing Lawmakers’

Addressing a press conference on Tuesday, Ginger Onwusibe, chair of the committee, said the bribery allegation by Binance is a red herring.

“The sophisticated criminality of Binance is clearly demonstrated by its actions in organising and carrying out the escape from the lawful custody of the office of the national security adviser (ONSA) and the Economic and Financial Crimes Commission (EFCC) on the 23rd day of March 2024, of its employee, Mr Nadeem Anjarwalla, using forged Kenyan passport while his genuine British passport is still in the custody of the authorities,” Onwusibe said.

“It is important to emphasize that Nigerian security and regulatory agencies such as the ONSA, EFCC, NFIU, SEC, and  CBN were already investigating the alleged criminal activities of Binance independent of the petitions before the committee.

“Clearly, the criminal activities of Binance in Nigeria had gained notoriety. Indeed, the criminal activities of Binance is not just a Nigerian issue but a global problem.

“The committee will continue with its functions and assignments undeterred.

“We recognise that the blackmail by Binance is merely an attempt to distract and draw attention away from the serious allegations of criminality against it which is now compounded by its role in the security breach of the sovereign Nigerian state.”

The committee said it will continue its work with “integrity, transparency and competence” and will not be “diminished or deflated by the shenanigans of Binance and other enemies of Nigeria”.

 

Credit: The Cable

BIG STORY

Brazilian Court Orders Suspension Of X, Threatens To Fine Citizens Who Use VPN $8,900

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Brazil’s supreme court has ordered the suspension of X, formerly Twitter, after Elon Musk failed to meet the deadline to appoint a new legal representative for the social media platform in the country.

In a ruling on Friday, Presiding Judge Alexandre de Moraes ordered the “immediate, complete and comprehensive suspension of the operation of” X in Brazil.

According to Judge Moraes, “The national communications agency must take all necessary measures to implement this order until X complies with all court orders and pays existing fines amounting to $3.28 million.”

Additionally, Moraes warned that using “technological subterfuges,” such as virtual private networks (VPNs), to circumvent the suspension would incur a fine of $8,900.

According to the judge, inciting speech has been spread through X and is harming Brazil’s democracy.

“We have a right to defend fundamental rights. Those who violate democracy, who violate fundamental human rights, whether in person or through social media, must be held accountable,” Moraes said.

The row began in April, with the judge ordering the suspension of dozens of X accounts for allegedly spreading disinformation.

Reacting to the decision, Musk accused the judge of violating free speech for political purposes.

X, via its official handle, tweeted “power to the people in Brazil and everywhere else”.

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Eguavoen To Lead Super Eagles As German Tax Policy Disrupts Labbadia’s Appointment

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The Nigeria Football Federation (NFF) has announced that Bruno Labbadia’s appointment as Super Eagles head coach has been terminated due to stringent German tax regulations.

As a result, Technical Director Augustine Eguavoen will take charge of the team for the upcoming 2025 Africa Cup of Nations qualifying matches against, Benin Republic (Uyo, September 7), Rwanda (Kigali, September 10).

This marks Eguavoen’s fourth stint as Super Eagles coach, following previous tenures in 2005-2007, 2010, and 2022.

According to NFF President Ibrahim Gusau, the federation cannot offset the concomitant tax percentage on the German coach’s salary.

According to him, the issue of offsetting the coach’s tax was not part of the initial agreement before the announcement of his appointment.

“We have been on the tax issue for the past three days, and I told him clearly that there was no way the NFF will agree to offset the concomitant tax percentage on his salary that will be demanded by German tax authorities. It is not possible for us to shoulder the responsibility of shelling out another money, between 32% to 40% of his salary, after paying the agreed monthly wage.

“The NFF and Mr. Labbadia reached an agreement in principle before we made the announcement that he would become the Head Coach of the Super Eagles. The tax details were never part of our discussions, and he had personally agreed to all terms before the tax issue came up.

“We were doing our best to be flexible in the discussions but he was adamant that the NFF had to pay the full tax amount as well. We simply cannot do that,” President of NFF, Gusau, said on Friday evening.

The NFF had on Tuesday announced its agreement with the German tactician to mount the saddle as the head coach of the Super Eagles.

Labbadia would have become the sixth German, after Karl-Heinz Marotzke (who had two stints between 1970 and 1974), Gottlieb Göller (1981), Manfred Höner (1988-1989), Berti Vogts (2007-2008) and Gernot Rohr (2016-2021) to lead the Super Eagles.

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Gunmen Attack School In Yobe, Kill Three Students

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Tragedy struck at Faudiya Islamic School in Geidam Local Government Area of Yobe State as gunmen attacked the institution, killing three students.

According to Dungus Abdulkarim, police spokesperson in Yobe, the assault occurred at approximately 3:45 am on Friday.

The gunmen, armed with dangerous weapons, arrived on about 10 motorcycles, storming the school premises.

Initially, the assailants planned to abduct four students, but instead chose to kill them to avoid the burden of taking them into the forest.

One student who attempted to escape suffered injuries and is currently receiving hospital treatment.

According to The Cable, Abdulkarim said, “It is confirmed, the divisional police headquarters at Geidam received the report this morning by a certain individual that there was an attack on a particular school,”

“We mobilised our men, and they went there and evacuated three dead persons and one with a bullet wound and was admitted to the hospital.

“The attackers came on a motorcycle, about 10 of them, carrying deadly arms such as AK-47 rifles and other items.

“They entered the school and took four of the students and killed three instantly and injured one person.

“The information we received from one of the injured persons was that the attackers invaded and told them they were there to abduct them to the forest and kill them, but they did not want to carry any load; in that regard, ‘we will just kill you here’.

“We are still investigating to find out the perpetrators and why the attack on the school.

“The attack occurred at exactly 3:45 to 4:00 am today. The school is a day and boarding school. There is a quarter in the school.”

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