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Cryptocurrency: Senate summons CBN Gov, DG SEC

The Senate on Thursday, summoned the Governor of Central Bank of Nigeria, Godwin Emefiele, and Director General of the Security and Exchange Commission, Lamido Yuguda, over the decision of the CBN to ban the use of cryptocurrency in the country.

The decision was taken following a motion by Senator Istifanus Gyang and Tokunbo Abiru, titled, “CBN decision to stop financial institutions from transacting in cryptocurrencies and matters arising therefrom.”

The Senate asked its committees on Banking, Insurance, and other financial institutions, Capital Market, and that of ICT and cybercrime to summon Emefiele and Yuguda.

The CBN governor and DG SEC are expected to brief the panels on the opportunities and threats of the cryptocurrency on the nation’s economy.

The Senate President, Ahmad Lawan, asked the joint committees to listen to Emefiele and Yuguda, and submit their report for the consideration of the Senate in plenary within two weeks.

Leading the debate on the issue, Gyang noted that the CBN issued a directive stopping all financial institutions from transacting in cryptocurrencies.

Read Also: We won’t allow another #EndSARS Protest – FG

He said the CBN decision was a follow up to its earlier directives in January 2017 and February 2018 which forbade banks not to use, hold, trade and/or transact in cryptocurrencies.

He further noted that the decision of the CBN was said to have been predicated on the need to safeguard the Nigerian economy from the adverse effects of the Cryptocurrency regime which are unregulated digital or virtual currencies that are issued by anonymous entities and secured by cryptography.

The decision was taken following a motion by Senator Istifanus Gyang and Tokunbo Abiru, titled, “CBN decision to stop financial institutions from transacting in cryptocurrencies and matters arising therefrom.”

The Senate asked its committees on Banking, Insurance, and other financial institutions, Capital Market, and that of ICT and cybercrime to summon Emefiele and Yuguda.

The CBN governor and DG SEC are expected to brief the panels on the opportunities and threats of the cryptocurrency on the nation’s economy.

The Senate President, Ahmad Lawan, asked the joint committees to listen to Emefiele and Yuguda, and submit their report for the consideration of the Senate in plenary within two weeks.

Leading the debate on the issue, Gyang noted that the CBN issued a directive stopping all financial institutions from transacting in cryptocurrencies.

He said the CBN decision was a follow up to its earlier directives in January 2017 and February 2018 which forbade banks not to use, hold, trade and/or transact in cryptocurrencies.

He further noted that the decision of the CBN was said to have been predicated on the need to safeguard the Nigerian economy from the adverse effects of the Cryptocurrency regime which are unregulated digital or virtual currencies that are issued by anonymous entities and secured by cryptography.

He observed that cryptography is a “method of encrypting and hiding codes that prevent oversight, accountability and regulation upon which the CBN says its use in Nigeria violates and contravenes existing law as only the CBN is authorized by law to issue legal tender.

He added: “Concerned that Crypto currency by nature is anchored on anonymity, obscurity and concealment of its patrons and actors making it difficult, if not impossible, to trace, track and uncover those that may deploy it for ignoble and illegal usage such as money laundering, terrorism financing, drug purchase, cybercrime, etc.

“Aware that the action and directive of the CBN has attracted sharp reactions from Nigerians and has become a topical subject of national discuss; and

“Realized that Crypto currency is both an opportunity and a threat, hence the Senate has a responsibility to ensure that the nation and citizens do not miss out on the opportunities that Crypto currency offers and in the same vein, mitigate and prevent likely consequential effects on the nation’s economy and security.”

Senators in their contribution supported the motion.

Senators approved the only prayer of the motion when it was put to voice vote by Senate President Ahmad Lawan.

The joint committee was given two weeks to report back to plenary by the Senate President.

We won’t allow another #EndSARS Protest – FG

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The Federal Government has vowed to prevent another session of #EndSARS protest from happening again in the country.

Some youths under the banner of ‘Occupy Lekki Toll Gate’ are planning on staging another protest at the Lekki tollgate in Lagos on Saturday.

Warning against such, Nigeria’s Minister of Information and Culture, Lai Mohammed, said the government won’t allow the destabilisation of Nigeria.

He said, “The ”Occupy Lekki Toll Gate” flyers have been circulating online, with the proponents threatening that ”Lagos will burn” again.

“Let me be clear: While peaceful protests are the constitutional rights of Nigerians, violent protests are not. At this time, the chances that any peaceful protest will be hijacked are very high.

“Based on the intelligence at the disposal of the Federal Government, some Nigerian activists have linked up with others outside Nigeria, including subversive elements, with a view to destabilizing the country. We cannot and must not allow this to happen.

“Never again will the Federal Government allow the kind of violence that was perpetrated across the country under the guise of the #EndSars last October.

“Never again will anyone or group be allowed to destroy cities or to kill and maim innocent citizens, including security agents, under any guise.

“The EndSars campaign last October started as a peaceful protest against police brutality.

Read Also: #EndSARS: CBN must stay out of the Political Arena – Falana

“As a government that believes in the constitutionally-guaranteed right of citizens to engage in peaceful protests, the Federal Government did nothing to hinder the protests for as long as they remained peaceful.

“Not only that, the @NigeriaGov moved swiftly to accede to the five-point demands by the EndSars campaigners which are:

“Immediate release of all arrested protesters

“Justice for all deceased victims of police brutality and appropriate compensation for their families.

“Setting up an independent body to oversee the investigation and prosecution of all reports of police misconduct within 10 days.

“In line with the new Police Act, psychological evaluation and retraining (to be confirmed by an independent body) of all disbanded SARS officers before they can be redeployed.

“And increase police salary so that they are adequately compensated for protecting the lives and property of citizens.

“Unfortunately, despite the acceptance of the demands, the protesters misread the Federal Government’s respect for the rule of law and defiantly continued to demonstrate and occupy a public facility, even after a curfew was declared by the Lagos State Government.

“This led to a series of actions that culminated in the hijacking of the protests by hoodlums, who perpetrated unimaginable violence in Lagos and other cities across the country.

“The trillion-Naira destruction of Lagos, in particular, remains too fresh a wound. Hundreds, including the youth, lost their livelihoods to the wanton attacks in Lagos.

“The burnt wreckage of public buses that were wantonly set ablaze by rampaging hoodlums remain in their positions as a sad and gory reminder of the unprecedented attacks. The city is still reeling from the war-like
destruction.

“For those who are using justice as an alibi for another round of destruction, let me say this: As we speak, the Judicial Panels of Inquiry, set up across the country to receive and investigate complaints of police brutality or related extra-judicial killings with a view to delivering justice for all victims of the dissolved SARS and other police units, are continuing with the assignments.

“In Lagos, the Judicial Panel of Inquiry has an added responsibility of investigating the incident of October 20th at the Lekki Toll Gate.

“Like we have said many times, anyone who has any information on the alleged shooting or purported massacre at the Lekki Toll Gate, including the names and addresses of those who were purportedly killed, should head to the Panel to give it such information.

“This is how to enhance the search for justice, not by rabble rousing or engaging in media shows.

“However, any further resort to violence in the name of EndSars will not be tolerated this time. The security agents are ready for any eventuality.

“A situation in which six soldiers and 37 policemen were murdered in cold blood by hoodlums will not repeat itself. The attack, looting and razing of 269 private and public property will not happen again. The killing of 57 civilians will not be re-enacted.

“We therefore strongly warn those who are planning to re-occupy Lekki Toll Gate on Saturday to desist. We know that many of those who have been loudest on social media in advertising the plan to reconvene in Lagos on Saturday are not even in Nigeria.

“They are elsewhere around the world fanning the embers of violence and inciting gullible people back home. No one should fall for their antics.

“No government anywhere will allow a repeat of the kind of destruction, killing and maiming wrought by the hijackers of EndSars protests last year.

“After all, only one policeman – (plus four others) – was killed in the invasion of the US Capitol in January, yet the FBI has continued to hunt down and prosecute the perpetrators. No life is more important than the other.

“The Federal Government is also keenly watching the role being played by the various social media platforms in this renewed clamour for violence in the country.

“Recall that the social media platforms that eagerly nudged on the #EndSars protesters, until the situation got out of hand, are the same ones that quickly pulled the plug on even their own President when the chips were down in their own country.

“I hope we have all learnt our lessons. If we allow them to destroy our country, we will bear the brunt.”

Warning against such, Nigeria’s Minister of Information and Culture, Lai Mohammed, said the government won’t allow the destabilisation of Nigeria.

He said, “The ”Occupy Lekki Toll Gate” flyers have been circulating online, with the proponents threatening that ”Lagos will burn” again.

“Let me be clear: While peaceful protests are the constitutional rights of Nigerians, violent protests are not. At this time, the chances that any peaceful protest will be hijacked are very high.

“Based on the intelligence at the disposal of the Federal Government, some Nigerian activists have linked up with others outside Nigeria, including subversive elements, with a view to destabilizing the country. We cannot and must not allow this to happen.

“Never again will the Federal Government allow the kind of violence that was perpetrated across the country under the guise of the #EndSars last October.

“Never again will anyone or group be allowed to destroy cities or to kill and maim innocent citizens, including security agents, under any guise.

“The EndSars campaign last October started as a peaceful protest against police brutality.

“As a government that believes in the constitutionally-guaranteed right of citizens to engage in peaceful protests, the Federal Government did nothing to hinder the protests for as long as they remained peaceful.

“Not only that, the @NigeriaGov moved swiftly to accede to the five-point demands by the EndSars campaigners which are:

“Immediate release of all arrested protesters

“Justice for all deceased victims of police brutality and appropriate compensation for their families.

“Setting up an independent body to oversee the investigation and prosecution of all reports of police misconduct within 10 days.

“In line with the new Police Act, psychological evaluation and retraining (to be confirmed by an independent body) of all disbanded SARS officers before they can be redeployed.

“And increase police salary so that they are adequately compensated for protecting the lives and property of citizens.

“Unfortunately, despite the acceptance of the demands, the protesters misread the Federal Government’s respect for the rule of law and defiantly continued to demonstrate and occupy a public facility, even after a curfew was declared by the Lagos State Government.

“This led to a series of actions that culminated in the hijacking of the protests by hoodlums, who perpetrated unimaginable violence in Lagos and other cities across the country.

“The trillion-Naira destruction of Lagos, in particular, remains too fresh a wound. Hundreds, including the youth, lost their livelihoods to the wanton attacks in Lagos.

“The burnt wreckage of public buses that were wantonly set ablaze by rampaging hoodlums remain in their positions as a sad and gory reminder of the unprecedented attacks. The city is still reeling from the war-like
destruction.

“For those who are using justice as an alibi for another round of destruction, let me say this: As we speak, the Judicial Panels of Inquiry, set up across the country to receive and investigate complaints of police brutality or related extra-judicial killings with a view to delivering justice for all victims of the dissolved SARS and other police units, are continuing with the assignments.

“In Lagos, the Judicial Panel of Inquiry has an added responsibility of investigating the incident of October 20th at the Lekki Toll Gate.

“Like we have said many times, anyone who has any information on the alleged shooting or purported massacre at the Lekki Toll Gate, including the names and addresses of those who were purportedly killed, should head to the Panel to give it such information.

“This is how to enhance the search for justice, not by rabble rousing or engaging in media shows.

“However, any further resort to violence in the name of EndSars will not be tolerated this time. The security agents are ready for any eventuality.

“A situation in which six soldiers and 37 policemen were murdered in cold blood by hoodlums will not repeat itself. The attack, looting and razing of 269 private and public property will not happen again. The killing of 57 civilians will not be re-enacted.

“We therefore strongly warn those who are planning to re-occupy Lekki Toll Gate on Saturday to desist. We know that many of those who have been loudest on social media in advertising the plan to reconvene in Lagos on Saturday are not even in Nigeria.

“They are elsewhere around the world fanning the embers of violence and inciting gullible people back home. No one should fall for their antics.

“No government anywhere will allow a repeat of the kind of destruction, killing and maiming wrought by the hijackers of EndSars protests last year.

“After all, only one policeman – (plus four others) – was killed in the invasion of the US Capitol in January, yet the FBI has continued to hunt down and prosecute the perpetrators. No life is more important than the other.

“The Federal Government is also keenly watching the role being played by the various social media platforms in this renewed clamour for violence in the country.

“Recall that the social media platforms that eagerly nudged on the #EndSars protesters, until the situation got out of hand, are the same ones that quickly pulled the plug on even their own President when the chips were down in their own country.

“I hope we have all learnt our lessons. If we allow them to destroy our country, we will bear the brunt.”

#EndSARS: CBN must stay out of the Political Arena – Falana

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A Senior Advocate of Nigeria (SAN), Femi Falana, has asked the Central Bank of Nigeria (CBN) to stay out of politics and stick to the business of banking.

Falana’s call was made in reaction to the unfreezing of bank accounts belonging to 20 #EndSARS promoters.

Following the #EndSARS protest that rocked the nation in October 2020, the CBN obtained an injunction from the court to freeze the accounts of certain individuals and a public affairs company linked to the #EndSARS protests, a move which Mr Falana describes as a case of intimidation.

The human rights lawyer who was a guest on Channels Television’s Sunrise Daily argued that the apex bank went out of its way.

“I do hope that sufficient lessons have been learnt particularly by the Central Bank to desist from jumping into the political arena by attempting to freeze the accounts of people who are involved in the struggle one way or the other against the government,” he stated.

Falana further argued that the CBN misled the court into believing that some grave offences had been committed, which would require time to run an investigation.

He however noted that no offense was committed and no attempt was made by the Central Bank to investigate any individual.

The lawyer urged the CBN to be more circumspect in the future, adding that the individuals whose accounts were frozen will be going to court to challenge the “gross violation” of their rights to their property.

Read Also: Court orders CBN to unfreeze #EndSARS protesters bank accounts

Buhari Tolerated Excesses of #EndSARS Protesters

In contradiction to Mr Falana argument that the rights of the #EndSARS campaigners were infringed, the Attorney General of the Federation, Abubakar Malami, says President Muhammadu Buhari tolerated the ‘excesses’ of #EndSARS protesters in the country, back in October 2020.

According to the AGF, that, among other actions of the president is proof of his leniency, despite what he termed as “human rights violations” in the country.

Mr. Malami said this on Wednesday while addressing a number of issues from the government’s reaction to the #EndSARS protests, to the appointment of new service chiefs, the extension of the appointment of the Inspector-General of Police, among others.

“As far as Human Rights records of the government of President Muhammadu Buhari is concerned, the fact speaks for itself, the commendation by the international body which is the Committee for the Protection of Journalists, local compliance with the recommendations of the National Human Rights Commission, which has been unprecedented, tolerance and indeed, accommodation for the excesses of the #EndSARS protesters were all facts that go to establish a point that the government of President Buhari has shown greater accommodation of the human rights violation and the tolerance to the human rights record as far as the Nigerian State is concerned,” the AGF said on Channels Television’s Politics Today.

According to him, “no nation in the world could have tolerated the idea of destruction to its security institutions”.

“I think over 20 police stations or more — I’m not certain about the number, they can be more — were destroyed during #EndSARS protests and government has a responsibility to ensure the protection of lives and freedom of movement.

“We are confronted with a situation whereby #EndSARS protesters blocked roads, caused mayhem, caused deaths, caused destruction, and they were significantly tolerated to a certain extent,” he added.

Meanwhile, the AGF also reacted to the court order on the Central Bank of Nigeria to unfreeze bank accounts of #EndSARS promoters.

He explained that the law provides the Federal Government with other options which include the right to challenge or exercise further considerations on the matter if the need arises.

Guardiola hits 200 wins as Manchester City manager

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Pep Guardiola racked up his 200th win as Manchester City boss on Wednesday as his side dispatched Swansea City in their FA Cup tie. 

Goals from Kyle Walker, Raheem Sterling and Gabriel Jesus saw City safely into the quarter-finals with a win in south Wales. 

It also bought up a significant landmark for Guardiola, who has become a club idol in his four and a half seasons in charge. 

The Catalan took the City job in 2016 following brilliant spells in charge of Barcelona and Bayern Munich. 

Guardiola’s four years in charge at Camp Nou yielded no less than 14 trophies, including two Champions League triumphs, while he added a further seven to his tally during three seasons in charge in Bavaria. 

His arrival at Etihad Stadium generated huge expectation from the City faithful, and made a positive start by winning his first game in charge, 2-1 at home to Sunderland. 

It was a sign of things to come as Guardiola’s new charges won all of the first 10 games he oversaw, before being held to a draw away to Celtic in the Champions League to end that run. 

In this, his fifth season at the helm, Guardiola and City are odds-on to regain the Premier League title that was lost to Liverpool in 2019-20. 

Pep hails his Man City players after record-breaking run

It would be his third league crown in the English top flight and ninth trophy overall, while City are also in contention for the FA Cup, Carabao Cup and Champions League this term. 

That latter title, though, has remained elusive, as it did throughout his Bayern stay. City have not made it past the quarter-final stage since Pep took over, coming unstuck last year in an upset at the hands of Lyon.

#OccupyLekkiTollgate: Never again will we allow another protest at Lekki tollgate — FG

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The minister of information and culture, Lai Mohammed, has warned those who are planning to reoccupy the Lekki tollgate in Lagos state to desist from it.

On Monday, some citizens on social media called for a demonstration at the tollgate after the judicial panel established by the Lagos state government to probe police brutality and human rights abuses okayed its reopening on Saturday.

Operations at the tollgate were suspended after the shooting of #EndSARS protesters on October 20. The reoccupation of the tollgate is billed to take place on Saturday.

Addressing a press conference in Abuja on Thursday, Mohammed said the federal government would not allow the kind of violence that trailed the #EndSARS demonstrations last year.

According to the minister, there is intelligence suggesting that the protest would be hijacked by “subversive elements, with a view to destabilizing the country”.

“Let me be clear. While peaceful protests are the constitutional rights of Nigerians, violent protests are not. At this time, the chances that any peaceful protest will be hijacked are very high. Based on the intelligence at the disposal of the Federal Government, some Nigerian activists have linked up with others outside Nigeria, including subversive elements, with a view to destabilizing the country. We cannot and must not allow this to happen,” he said.

“Never again will the Federal Government allow the kind of violence that was perpetrated across the country under the guise of the EndSars last October. Never again will anyone or group be allowed to destroy cities or to kill and maim innocent citizens, including security agents, under any guise.

“We therefore strongly warn those who are planning to re-occupy Lekki Toll Gate on Saturday to desist. We know that many of those who have been loudest on social media in advertising the plan to reconvene in Lagos on Saturday are not even in Nigeria.

“They are elsewhere around the world fanning the embers of violence and inciting gullible people back home. No one should fall for their antics.”

Mohammed said the federal government is watching the role being played by social media platforms “in this renewed clamour for violence in the country”.

“Recall that the social media platforms that eagerly nudged on the EndSars protesters, until the situation got out of hand, are the same ones that quickly pulled the plug on even their own President when the chips were down in their own country,” he said.

“I hope we have all learnt our lessons. If we allow them to destroy our country, we will bear the brunt.”

First civilian governor of Lagos State, Lateef Jakande, is dead!

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Lateef Jakande, first civilian governor of Lagos state, has died at the age of 91.

Babajide Sanwo-Olu, governor of Lagos, announced his death on Thursday.

”With gratitude to God for a worthy life well spent in the service of Lagos State, Nigeria and humanity, I announce the death of a venerable statesman, outstanding politician, public administrator and the first Civilian Governor of Lagos State, Alhaji Lateef Kayode Jakande,” Sanwo-Olu said.

Jakande was governor of Lagos from 1979 to 1983. He was later appointed minister of works by Sani Abacha in 1993.

Jakande is reputed to have initiated sweeping reforms in education and infrastructure while he was Lagos governor.

His polices centred on low-income groups and the middle class. He taxed the rich to take care of the poor.  He built 30,000 housing units in estates across Lagos and provided free primary and secondary education.

He founded the Lagos State University and started the metroline project to ease the transportation burden in the state.

But the project was aborted when the military regime led by Muhammadu Buhari took over power in 1983.

Glamour Girls’ star Barbara Odoh returns to Nollywood after 17-year hiatus

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Veteran actress, Barbara Odoh, best known as Helen in the Nollywood classic, ‘Glamour Girls’, is set to star in a new film.

Odoh, also a gospel singer, has not been active in the film industry since she last featured in ‘House Party’ released in 2004.

She gained critical acclaim in the two-part 1994 film, ‘Glamour Girls’ which she starred in alongside Liz Benson, Ngozi Ezeonu, Eucharia Anuobi, Pat Attah, Ernest Obi, Zack Orji, and others.

For her recent return to Nollywood, Odoh would star in the upcoming film titled ‘Omije Oloore’.

The film was shot predominantly in Yoruba and also stars Ireti Osayemi, Ayo Badmus, Sola Fosudo, and Victor Oyebode aka Boy Alinco.

 ‘Omije Oloore’ is the veteran’s first Yoruba language film and she told the News Agency of Nigeria (NAN), on Wednesday that she feels excited to show a new side of her craft to the audience.

She added that she joined the production because she speaks Yoruba fluently and she found the script to be thought-provoking and spiritually enthralling.

13-year-old girl dragged to death while trying to escape SUV that was stolen while she was inside

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A Kansas teen trying to escape from an SUV that was stolen while she was inside died after she became entangled in a seat belt and was dragged for miles through an open car door, leading to the driver’s arrest on a charge of murder.

Wichita police say the 13-year-old girl, identified by her family as Brianna Ibarra, had stayed behind in the back seat of a Ford Escape that was parked, but left running, outside of a restaurant as other family members went in to grab food shortly before noon Saturday.

A man, 34-year-old Kevin Palmer, of Wichita, then allegedly jumped into the driver’s seat of the vehicle and drove away with the girl inside.

The girl attempted to exit the car as it was moving, but was caught in the seatbelt and then dragged outside of the vehicle. “Palmer continued to flee for several miles,” police alleged in a news release.

A witness who saw the situation called 911 and followed the SUV. Police say the driver stopped and then fled on foot, but was quickly arrested by officers who arrived on the scene.

“This is one of the saddest cases I have been associated with in my over 28 years of law enforcement,” said police Chief Gordon Ramsay.

Brianna was “full of life,” and someone who “always made everybody laugh, loved her family [and] was always up for any adventure,” said her parents, reports KAKE TV.

They described the loss as “a tragedy that no family should have to go through.”

The middle school student “loved to create,” said her older sister Marissa Ibarra, and was “easy and fun to be around. She was bright, carefree, straightforward, family oriented, strong, would do anything for [her] family, affectionate,” she told the TV station.

A family friend created a GoFundMe account for donors to contribute to the family’s expenses.

Palmer, who police say has several prior convictions for felony crimes, is being held at the Sedgwick County jail on multiple charges including first-degree murder, theft and driving with a suspended or revoked license. His bond on the murder charge is $500,000, according to online court records.

It was not immediately clear if an attorney had been appointed to represent him.

Namibia’s National Carrier Suspends All Operations, Grounds Aircraft with Immediate Effect

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Air Namibia has decided to suspend all operations, cancelling all of its flights and grounding its aircraft with immediate effect while advising customers to cancel reservations and request refunds.

State owned newspaper, New Era, reports that this move leaves more than 600 employees without jobs, adding taht it  had been a cabinet decision to file for voluntary liquidation.

National broadcaster Namibian Broadcasting Corporation also reports that employees will receive a basic salary for the next 12 months but will not receive any benefits.

The airline has been having operational issues – the latest being last week’s resignation of board members who accused the government of interference.

According to aviation news website, Aviation24.be, Namibia Air had been having financial and safety problems, with the unforeseen effects of the coronavirus pandemic on the travel industry seeming to be the final blows.

Nigerian Athlete Blessing Okagbare Receives Guinness Book Of World Records Recognition

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Nigerian track and field athlete Blessing Okagbare has been recognised by the Guinness Book of World Records as the only athlete to have attended the Athletics Diamond Meetings 67 times.

For the track and field athlete, it was a dream made a reality through God’s grace and determination, she posted via verified Instagram handle Wednesday when she went public with the good news.

The mail sent to her by the body read in part: “The most appearance in diamond league meetings by an athlete is 67 and was achieved by Blessing Okagbare (Nigeria) between 30 July 2010 to 31 August 2018.

The track and field athlete won a silver medal at the 2018 Beijing Olympic.

She also won silver and bronze in the long jump and 200-meter events respectively at the 2013 World Championships held in Moscow, Russia.

The 32-year-old had a brilliant outing at the 2014 Commonwealth Games in Glasgow where she won two gold medals and a silver.