NEWS
Binance: EFCC Presents 2 Witnesses as Money Laundering Trial Stalls
The Economic and Financial Crimes Commission (EFCC), on Thursday, presented two witnesses in the trial of Binance Holdings Ltd and its two executives before a Federal High Court, Abuja.
EFCC’s lawyer, Ekele Iheanacho, informed Justice Emeka Nwite upon resumed trial in the money laundering trial.
Reports says that the anti-graft agency had preferred a five-count charge against the crypto-currency firm, its top officials; Tigran Gambaryan and Nadeem Anjarwalla (now at large) as 1st to 3rd defendants respectively.
They were alleged to have conspired amongst themselves to conceal the origin of the financial proceeds of their alleged unlawful activities in Nigeria including $35,400, 000, among others.
The commission accused them of committing the offence contrary to Section 21 (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022, among others.
However, Anjarwalla escaped from lawful custody on March 22 and fled Nigeria for Kenya, before arraignment.
The defendants were later arraigns on April 8 but pleaded not guilty to the counts.
Gambaryan was ordered to be remanded in Kuje Correctional Centre
Gambaryan, through his lawyer, Mark Mordi, SAN, applied for a bail, on April 23, which was opposed by the EFCC, and the ruling fixed for May 17.
Meanwhile, when the matter was called on Thursday, Iheanacho said the matter was scheduled for trial commencement.
“The matter is for commencement of trial and we have two of our witnesses in court today my lord,” Iheanacho told the court.
But Tonye Krukrubo, SAN, counsel for Binance Ltd, objected to Iheanacho’s submission.
Krukrubo told the court that his client had not be served with the court documents in the matter.
“If we are here for trial, can my learner friend confirm if the 1st defendant has been served with any process,” he said.
The EFCC lawyer responded that all the defendants, including the 1st defendant (Binance), had been duly served and that additional proof of evidence was served on the 1st defendant through the 2nd defendant (Gambaryan) in accordance with the law.
But Krukrubo insisted that he had not been served.
He said a suspect facing criminal proceedings should be afforded the opportunity to defence himself, hence, there should be a proof of service of the documents on his client.
Iheanacho, on his part, restated that the company was served through Gambaryan, who is its agent in Nigeria.
He said the proof of service could be confirmed in the court record.
However, the proof of service could not be found in the court record when the judge directed the registrar to look through the file.
Justice Nwite then summoned the bailiff to give his own account on the service of the documents.
The bailiff explained that on April 30, he was at Kuje Correction Facility to effect the service of the documents on Binance through Gambaryan but he was not allowed to see him.
He said all efforts made were unsuccessful.
The bailiff told the court that the documents were still in his care.
Justice Nwite then ordered Iheanacho to serve Krukrubo with the extra copy of the documents in his possession in the open court.
Krukrubo applied for an adjournment to enable him study the documents ahead of the trial commencement.
The judge, who adjourned the matter until May 17 for trial commencement, advised EFCC to be diligent in the trial.
“It behoves on you, as prosecution, to do all within your power in the trial because I am not going to entertain any delay in this trial again,” Justice Nwite said.(NAN)
NEWS
FCTA Moves to Curb Medical Tourism
By Laide Akinboade, Abuja
Federal capital Territory Administration (FCTA) has pledged to provide the necessary support for the successful completion and operation of the African Medical Center of Excellence, with a view to reversing medical tourism.
The FCT Minister of State, Dr. Mariya Mahmoud, made this pledge during a site tour of the state of the art facility, of African Medical Centre for Excellence, billed to be operational in early 2025.
Mahmoud noted that the partnership between the African Export-Import Bank and Kings College Hospital London to establish the 170-bed hospital was a testament to the commitment to advancing clinical care, training, and research in specialty areas such as oncology, cardiovascular services, hematology, diagnostics, and general medical services.
The minister further added; “The potential impact of this initiative in reversing medical tourism and reducing healthcare worker migration is commendable.
“I am encouraged by the prospect of over 1000 workers being employed to support the hospital’s operations.
“Therefore, I am fully committed to ensuring that the Federal Capital Territory Administration provides the necessary support for the successful establishment and operation of the African Medical Center of Excellence.
“We are happy to see, that the 6.5 hectares of land, which was donated by the Federal Capital Territory Administration, on behalf of the Federal Government of Nigeria, as part of the host country agreement, has been developed to accomodate this hospital.”
While conducting the minister round the project, the Chief Executive Officer, African Medical Center of Excellence, Mr. Brian Deaver, commended the FCT Administration for the strategic partnership.
He used the occasion to inform the minister that the management staff of the medical centre are looking forward to further contributions of the Administration to improvement in the management of non communicable diseases in the territory.
Deaver stressed that the potential benefits of the location of this hospital in Abuja is significant, just as he expressed confidence that the partnership would yield positive outcomes for the healthcare sector in the region.
NEWS
Ortom, Ode, Asemakaha Felicitates With Alia on 58th Birthday
From Attah Ede, Makurdi
Former Governor of Benue State, Chief Samuel Ortom, the incumbent Deputy Governor, Barr Sam Ode and the Managing Director and Chief Executive Officer (MD/CEO) of Benue Investment and Property Company (BIPC), Dr Raymond Asemakaha, Wednesday, extended their felicitations to the State Governor, Rev Fr.
The former governor in a statement signed by his Media Aide,Terver Akase and made available to newsmen in Makurdi, prayed God to grant Governor Alia the wisdom and health to steer the affairs of the state.
He maintained that God would grant Alia the enablement to surmount all challenges fronting his administration and wished him a memorable birthday celebration and many more years ahead.
The statement read in part: “Your Excellency, as you celebrate, I pray that God grants you wisdom, good health and strength to enable you to continue to steer the affairs of our dear state.
“Leadership comes with its numerous challenges, but I have no doubt that with God’s grace and guidance, all problems are surmountable.”
Similarly, the Deputy Governor of the State, Barr. Sam Odeh, on behalf of the State Executive Council (SEC), prayed that Governor Alia’s birthday would be a celebration of his uncommon passion for speedy transformation of the state.
“On behalf of the Benue State Executive Council, I write to warmly felicitate with Your Excellency, Rev. Fr. Dr. Hyacinth Iormem Alia, Executive Governor of Benue State on the occasion of your 58th birthday anniversary.
“As you mark your years of existence on earth today, we heartily join your family, the good people of Benue State and the entire nation in wishing Your Excellency a very happy birthday.
“May your 58th birthday be a celebration of your positive energy and uncommon passion for speedy transformation of Benue State. As Governor of our dear state, you have, in the last one year, demonstrated pragmatic leadership with selflessness and dedication, by rendering quality service to the good people of Benue.
“Your ability to turn challenges into opportunities is truly admirable. We have every reason to celebrate you today, because your transformation drive has brought the state to national and global prominence with many laudable initiatives and partnerships that are now yielding positive results in various sectors of Benue economy.
“Happy Birthday! Your Excellency, you are truly a special gift to the state and a beacon of inspiration for us all. May your birthday mark the beginning of a new chapter filled with even greater successes and fulfillment.
“We pray that the Almighty God will continue to uphold, keep and strengthen you for His glory and to the benefit of humanity. Congratulations and happy birthday!, Ode stated”.
On his part, the MD/CEO, BIPC, Dr Raymond Asemakaha, on behalf of the management and staff of the company, said the governor had so far demonstrated visionary leadership, tireless efforts, and unwavering commitment to the transformation of Benue State.
Governor Alia’s exemplary governance and dedication to the welfare of the people are truly inspiring, stressing that this milestone birthday marks the beginning of another remarkable year filled with wisdom, good health, and unparalleled success.
NEWS
CBN Unveils Strategy to Boost Remittances
By Tony Obiechina, Abuja
The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) Approval-in-Principle (AIP).
This was disclosed in Abuja on Wednesday, by the Bank’s Acting Director of Corporate Communications, Mrs.
She said, “This will spur liquidity in Nigeria’s Autonomous Foreign Exchange Market (NAFEX), augmenting price discovery to enable a market-driven fair value for the naira.
“It will be recalled that the CBN Governor, Mr. Olayemi Cardoso, had recently declared: “We’ve set ourselves a target to double remittance flows into Nigeria within a year, a goal I firmly believe is within reach.
“We are wasting no time driving progress to remove any bottlenecks hindering flows through formal channels permanently. We have a determined pathway and a sequenced approach to tackling all challenges ahead, working hand in hand with key stakeholders in the remittance industry,” she stated.
Continuing, Sidi Ali, said that the CBN viewed increasing formal remittance flows—one of the major sources of foreign exchange, accounting for over 6% of GDP—as a means of reducing the historical volatility in Nigeria’s exchange rate caused by external factors, such as fluctuations in foreign investment and oil export proceeds.
The increase in the number of IMTOs is one of the primary actions initiated by the CBN’s remittance task force, overseen by Governor Cardoso as a collaborative unit pulling together specialists to work closely with the private sector and market operators to facilitate the ease of doing business in the remittance ecosystem in Nigeria.
The task force was established as a direct result of an executive learning session with IMTOs during the World Bank/IMF Spring Meetings held in Washington DC, United States of America, in April 2024. The task force will meet regularly to implement strategy and monitor the impact of its measures on remittance inflows.