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JUST IN: Two Of Abba Kyari’s Co-Defendants Bag 6-Years Jail Term

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A federal high court in Abuja on Tuesday, sentenced two drug traffickers and co-defendants of Abba Kyari, Chibunna Patrick Umeibe, and Emeka Alphonsus Ezenwane, to six years imprisonment.

The duo were linked to the suspended Deputy Commissioner of Police, DCP, Kyari.

The court, in a judgment that was delivered by trial Justice Emeka Nite, convicted Umeibe and Ezenwanne on counts 5, 6, and 7 of the drug trafficking charge the National Drug Law Enforcement Agency, NDLEA, preferred against them.

It was earlier reported that the duo, who were arrested at the Akanu Ibiam International Airport in Enugu while attempting to smuggle cocaine into the country, were on March 7 arraigned before the court alongside DCP Kyari and four other police officers- ACP Sunday J. Ubia, Insp. Simon Agirigba, Insp. John Nuhu, and ASP Bawa James.

Both Umeibe and Ezenwanne had upon their arraignment, pleaded guilty to the drug trafficking charge against them.

Though Justice Nwite initially adjourned to review the facts of the case against them, however, at the resumed proceedings on Tuesday, the NDLEA, through the Director of its Legal Department, Mr. Sunday Joseph, informed the court that it has entered into a plea bargain agreement with the two defendants.

Mr. Joseph, therefore, persuaded the court to adopt the terms of the plea bargain deal as its judgment against the defendants.

Consequently, Justice Nwite, in his judgment, convicted and sentenced the two defendants to two years jail term on each of the three-count charges against them.

However, the court, which noted that the two defendants were remorseful, held that the sentence would run concurrently, commencing from the date they were arrested.

More so, the court, held that the defendants should forfeit their international passports in accordance with section 30 of the NDLEA Act, Cap M30, Laws of the Federation of Nigeria.

In line with the plea bargain agreement, the court, okayed Umeibe and Ezenwanne to testify as witnesses in the trial of DCP Kyari and the other accused police officers, even as it ordered the NDLEA to ensure their safety in any Correctional Facility of their choice.

It directed the NDLEA to constantly monitor the two defendants to ensure that they do not engage in any drug-related criminal activity while serving their jail terms.

Justice Nwite subsequently fixed July 18, 19, and 20 for a full-blown trial of DCP Kyari and his men, as well as for hearing of their fresh application for bail.

The NDLEA had in the charge marked FHC/ABJ/57/2022, alleged that Kyari, who hitherto headed the Police Intelligence Response Team, IRT, and his men, unlawfully tampered with 21.25kilograms worth of cocaine that they seized from the two apprehended drug traffickers, even as it also accused them of dealing in cocaine worth 17.55kg.

It alleged that the police officers committed the offense between January 19 and 25, 2022, at the office of Inspector-General of Police (IGP) IRT, Abuja, in connivance with one ASP John Umoru (now at large), contrary to section 14(b) of the NDLEA Act, CAP N30 Laws of the Federation of Nigeria 2004.

Besides, Kyari was said to have attempted to bribe a senior officer of the NDLEA with $61, 400. 00 at a restaurant in Abuja to prevent the testing of part of the cocaine that was seized from the two arrested drug pushers.

On the other hand, the agency alleged that Umeibe and Ezenwanne, conspired with one IK that is currently at large, to import 21.35kg of cocaine into the country without lawful authority and knowingly possessed same, and thereby committed an offense contrary to and punishable under section 11(d) of the NDLEA Act, CAP N30 Laws of the Federation of Nigeria 2004.

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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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