From Marcel Duru, Charity Wins Owerri

Over 1000 Youths resident in Nsu Cmmimity, Eheme Mbano Local Government Area of Imo State have vacated the area over mass arrest by the Nigeria Police Force.

Speaking with journalists at Douglas Road Owerri, Imo State yesterday, one of the victims, Jude Ezeala said that the arrest was in respect of the burning of Open University located at Nsu Community in Eheme Mbano LGA of Imo State.

He stated that he relocated to Owerri when Army and  Police went to the market known as Oriagu market and arrested some youths which include motorcycle operators, Palm Fruit harvesters and took them to Imo Police   Headquarters in Owerri, Imo State and labelled them suspects.

In the same vein a Medical Practitioner based in the area   Dr. Frank Madu has stated that over 5000 people residing in communities   more especially youths have vacated the area and relocated to different towns outside the State for fear of being killed as Unknown Gun Men by the Nigerian Army deployed in the area by the Federal Government in conjunction with the Governor of Imo State senator Hope Uzodimma.

He said that the relocation started gradually when Security Operatives headed by fierce Military men killed suspected UGM during a down raid on the Nsu Community Eheme Mbano Local Government Area of Imo State.

He revealed that the presence of heavily armed military were scaring people in the communities, adding that what made the residents change their mind completely was the recent deployment of over 1000 Soldiers  driving in a motorcade accompanied by Police with several armored carriers.

He conclude  that tension has pervaded  as military were deployed and patrol in every nooks and crannies harassing humiliating and killing innocent people and branded them arsonists 

It could be recalled that the Commissioner of Police Imo State Command has issued a press release to journalists telling them that the Command has arrested eight suspected arsonists.

By Tony Obiechina, Abuja

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has stressed the need for stakeholders to adapt regulatory frameworks to align with the evolving Financial Action Task Force (FATF) standards.

According to him, failure to do so would not only jeopardize the integrity of the capital markets, but also pose a risk to Nigeria and the global financial system.

He stated this at the Compliance Summit 2024 organised by the Nigerian Capital Market Institute, a subsidiary of the SEC, with the theme: Navigating Regulatory Challenges: Aligning with Changes in FATF Standards in the Era of Virtual Asset Service Providers held in Lagos, Monday.

FATF guidance helps countries implement effective regulations, addressing risks associated with virtual assets.

Agama said as virtual assets continue to gain prominence, navigating regulatory challenges in the space requires proactive engagement with FATF standards adding that collaboration between regulators, VASPs and stakeholders ensures effective implementation.

Agama said the event is a testament to the collective commitment by stakeholders to ensuring that the Nigerian capital market remains at the vanguard of global financial integrity and efficiency, while fostering an environment conducive to progress and innovation.

He disclosed that the rapid evolution of virtual assets and the emergence of the related service providers have brought considerable changes to the financial landscape, creating opportunities and, invariably, carrying with it untold regulatory challenges that necessitate our immediate and appropriate attention.

He said, “During this summit, we will explore critical topics such as the unique regulatory implications posed by virtual assets service providers, the importance of compliance in safeguarding our markets, and strategies for implementing effective risk management protocols.

“We will be graced with presentations and discussions on these issues from leading experts and professionals, who will share their insights and experiences on industry best practice and regulatory developments”.

The SEC DG said the Summit serves as a platform for all stakeholders—regulators, operators, financial institutions, and technology innovators—to collaborate, share knowledge and chart the way forward as may be collectively desirable adding that all must therefore harness the strength of collective expertise to navigate the regulatory challenges ahead.

He said some recent changes in FATF standards significantly impact virtual asset service providers and these key updates include: Expanded VASP definition: Custodial wallet providers, exchanges and peer-to-peer platforms are now recognized as VASPs, Travel Rule: VASPs must share customer information during transactions, enhancing transparency, Licensing and registration: VASPs must register and obtain licenses, ensuring accountability and Enhanced AML/CFT measures: Strengthened regulations combat money laundering and terrorist financing.

From Samuel James, Ilorin

The Kwara State government has closed down some eateries over the poor environmental conditions and other violations of environmental laws.

The enforcement action was made known by the Commissioner for Environment, Hajia Nafisat Musa Buge who carried out an inspection to some of the affected eateries in Ilorin, the state capital.

Buge expressed disappointment over what she described as repeated ignoring of warnings and non compliance of some eateries on proper hygiene and environmental laws.

Though, it was gathered that some residents had recently protested of obnoxious odour within led to the businesses closures in the affected areas.

Some of the inspected eateries shops were shut down and others with big patronage in the country were summoned by the commissioner.

Hajiya Nafisat said the complaints from residents revealed that they indulged

in unacceptable practices which includes discharging the untreated wastewater from their eateries to the public and that is inimical to the healthy living of residents.

She asserted that the action of the government on such cases was aimed at protecting people from harmful pollution and environmental conditions that are detrimental to their health and safety.

“It becomes very important for the government to shut down some of the eateries that had received warning notices but refused to comply”, she added.

The commissioner further said it’s in line with the environmental health laws that they must meet some expected conditions before they can be allowed to operate or reopen their business.

However, the conditions mentioned include; effluent treatment of their pits to avoid the emission of obnoxious odours and provision of sanitary dust bins with tight-fitting covers, submission of medical certificates of fitness for the food handlers, provision of aprons for food handlers, reconstruction of defective septic tanks, and general cleaning of the environment, among others.