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FRSC Begins ‘Operation Show Your Driver’s License’

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The Federal Road Safety Corps (FRSC) in Lagos State will on Monday start ‘Operation Show Your Driver’s Licence and Vehicle licence phase II’ in the state.

The state’s Corps Commander, Olusegun Ogungbemide, stated this in a statement he made available to journalists on Sunday in Lagos.

Mr Ogungbemide said a situation where drivers of vehicles, tricycles and bike riders would be plying the road without driving licences was no more acceptable.

The sector commander decried the high rate of permanent driver’s licences unpicked in all driver’s licence stations in the state.

“The first phase of the special patrol tagged ‘Operation Show your driver’s licence’ showed that some motorists still drive without their valid driver’s licence while some don’t have at all.

“With the recent increase in vehicular movements as a result of the ember months, there is the need for all drivers to be handy with their driver’s licences.

“The exercise will ensure all drivers have valid vehicle papers as the command begins ‘Operation Show Your Driver’s Licence and Vehicle licence.’”

Mr Ogungbemide explained that the operation would start on Monday, 4 October to end on 10 October simultaneously in all the commands in the state.

He reiterated that all vehicles impounded would not be released until their drivers had shown evidence of having the documents.

The state commander said that according to the National Road Traffic Regulations (NRTR) 2021, Regulation 67(1) any person driving a vehicle on any public road shall be in possession of an original driver’s licence.

Mr Ogungbemide, however, noted that where the person was in possession of the photocopy of the original driver’s licence, he should within 24 hours produce the original driver’s licence to the appropriate authority on demand.

“Regulation (2) also stated that any person who contravenes the provision of regulation 67(1) commits an offence and shall be liable on conviction to a fine of #10,000 or to a term of one-year imprisonment or to both.

“For motorists who drive without vehicle licences, Regulation 67(3) states that any person driving a vehicle must be in possession of at least the photocopy of the vehicle particulars.

“The original shall be provided to the appropriate authority within 24 hours if demanded.

“Regulations 67(4) says any person who contravenes the provisions of regulation 67(3) commits an offence and shall be liable to a fine of #3,000 or six months imprisonment or to both,” he said.

Mr Ogungbemide warned all road users to ensure they obtain all necessary documents that qualified them to use the road.

He also admonished all motorists to maintain a safe speed, avoid night travels so that they could always enjoy a good road experience.

(NAN)

BIG STORY

JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

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The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

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Detained Binance Executive Gambaryan Drags EFCC, NSA To Court

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Tigran Gambaryan, the CEO of Binance who is currently in detention, has claimed that he has been violated in his fundamental human rights by the Economic Financial Crimes Commission and Nuhu Ribadu, the National Security Adviser.

Gambaryan, in an originating motion marked: FHC/ABJ/CS/356/24 sought a declaration that his detention and seizure of his international travel passport, contravened Section 35 (1) and (4) of 1999 Constitution.

He urged the court to order the NSA and the EFCC to release him from their custody and return his international travel passport with immediate effect.

Gambaryan also sought an order of perpetual injunction restraining the respondents and their agents from further detaining him in relation to any investigation into or demands from Binance.

He also urged the court to order the respondents to issue a public apology to him.

Gambaryan averred that he was in Nigeria alongside fleeing Nadeem Anjarwalla to honour the invitation of the ONSA and EFCC to discuss issues relating to Binance in Nigeria.

Anjarwalla escaped from the guest house where he and Gambaryan were being held

He argued that he had not committed any offence during the meeting, and neither was he informed in writing of any offence he personally committed in Nigeria at any other time.

“The only reason for his detention is because the government is requesting information from Binance and making demands on the company,” he added.

The fleeing Anjarwalla also filed a similar suit, marked: FHC/ABJ/CS/355/24.

At the proceedings on Thursday, T.J. Krukrubo (SAN) appeared for the plaintiffs, while the respondents had no representation.

Krukrubo informed the court that the respondents were served two days ago.

Shortly after that, he announced to the court that he was withdrawing from the matter as counsel for the fleeing Anjarwalla.

He did not give reasons for his withdrawal.

The trial judge, Justice Inyang Ekwo, adjourned the matter till April 8.

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Federal Government To Arraign Binance Executives Over ‘Tax Evasion’ On April 4

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On April 4, the federal authorities will file charges against senior executives of the cryptocurrency company Binance, Tigran Gambaryan, and Nadeem Anjarwalla, for allegedly engaging in “tax evasion.”

Anjarwalla is Binance’s regional manager for Africa, while Gambaryan oversees the company’s compliance with financial crimes.

The Federal Inland Revenue Service (FIRS) charged Binance with a crime on March 25th for “tax evasion.”

The service claims that the action is intended to maintain national economic integrity and fiscal discipline.

The lawsuit, designated as suit number FHC/ABJ/CR/115/2024, is said to “implicate Binance with a four-count tax evasion accusation”.

However, on Thursday, NAN reported the federal government will charge the three defendants before Emeka Nwite, the presiding judge, at the federal high court (FHC) in Abuja on a four-count charge.

Despite not being a vacation judge, according to the report, the chief judge granted the fiat for the judge to oversee the case during vacation because it is a matter of critical national interest.

The lawsuit comes a month after Anjarwalla and Gambaryan were detained by the Nigerian authorities.

Anjarwalla and Gambaryan had flown into Nigeria but had their passports seized by ONSA.

On March 12, Anjarwalla was transferred to a local hospital after he fell ill while in detention in Nigeria.

However, on March 25, Anjarwalla escaped from custody and fled Nigeria with a smuggled passport.

Meanwhile, Gambaryan, on March 28, sued Nuhu Ribadu, the national security adviser (NSA) and the Economic Financial Crimes Commission (EFCC), alleging violation of his fundamental rights.

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