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Lagos’ll Strengthen Partnership With U.S. On Security, Technology, Good Governance, Says Sanwo-Olu 

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Lagos State Governor, Mr. Babajide Sanwo-Olu on Wednesday said the State Government will strengthen its partnership with the United States and work closely to deepen a mutually beneficial relationship on security, business, entertainment, technology, and good governance, among others, to better the lives of the citizens.

Governor Sanwo-Olu made the statement on Wednesday while receiving the new United States Consul General, Mr. Williams Stevens, who paid him a courtesy visit at the Lagos House, Marina.

The Governor said Lagos State Government is looking forward to using the opportunities and mutually beneficial partnerships between the State and the United States to better the lives of residents and create an atmosphere where businesses can thrive.

He said: “We know too well that you will do bigger and greater things with the government and the people of Lagos. The relationship that the government has with your office is great; it is phenomenal but beyond that, it is really about our people. It is about ensuring that we can use our opportunity to better the lives of our citizens and businesses both in institutions and the country.

“Over the last couple of months in Lagos State, we have seen direct investments from big American companies that have seen the need for them not to just verbalize that the future is in Africa but the future is actually in Lagos and we need to take those steps.

“We know that indeed this is where the huge number of youth population; the opportunity is here in tech, financial services, entertainment, and tourism. This is where everything comes together. So, I am excited. We believe working closely with your office, we will be creating success on both sides and we will be building a mutually beneficial relationship.

“Security is paramount for you, me, and for our citizens. We will be taking that forward. I am sure over the period we will deepen the relationship further and build a visible clear vision for our cities.”

In his remarks, the United States Consul General, Williams Stevens said his country was poised to improve the economic relationships, and bilateral trade, and work together to combat crime while partnering to prioritize education, cultural engagement, and entertainment, among other initiatives that would lead to investments in the state.

Stevens, who described the economic relationship as the foundation of any partnership as well as security, promised that the United States will partner with Lagos State and the Federal Government in combating trans-national crimes and ensure the security of lives and properties of residents, which according to him is key to creating a conducive environment for businesses to thrive.

He said: “We are focused on security. We are focused on ensuring that we are working together with Nigerian organizations and law enforcement to combat international crime and help the people here safer and more secure, which actually directly connects to trade investment.

“We are also focusing on the human concept on regulations, health, partnership, democracy, governance, preparation for the upcoming elections; everything we can do to ensure that people who are here in Lagos State and around Nigeria can have the opportunity to live healthy and safer.”

Stevens, who described Nigerian entertainers as global stars, said there is a partnership between Americans and Nigerians both in films and music in the classic entertainment industries.

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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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