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Binance: Gambaryan’s allegations false, malicious, defamatory – Rep Onwusibe

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Chairman of the House of Representatives Committee on Financial Crimes, Rep. Ginger Onwusibe, has denied the allegations of bribery made against him by the Head of Financial Crime Compliance of Binance, Tigran Gambaryan.

Onwusibe, in a statement issued in Abuja on Saturday, described Gambaryan’s claims as false, malicious and defamatory.

The News Agency of Nigeria (NAN) reports that Gambaryan, who spent eight in a Nigerian detention facility over alleged corruption, had named three members of the house who allegedly demanded a $150 million bribe from him.

Gambaryan had, in his verified X account on Friday, named Philip Agbese, Obinna Onwusibe and Peter Akpanke as the lawmakers who demanded the bribe from him.

NAN reports that one of the lawmakers, Agbese, had since denied Gambaryan’s allegations, calling on him to support his claims with evidence or face the consequences of his actions.

Onwusibe, in the statement on Saturday, said that his committee began investigating Binance after receiving a petition from a civil society organisation, Empowerment for Unemployed Youth Initiative.

He said that the petition alleged that Binance had engaged in financial and economic crimes which posed a threat to the Nigerian economy.

“In response, the committee invited Binance’s CEO, Richard Teng, to appear before a public hearing scheduled for Jan. 10, 2024.

“However, before that date, Binance requested a pre-hearing meeting to better understand the allegations against them,” he said.

Onwusibe stated that the committee agreed to the request and rescheduled the meeting for Jan. 8, 2024 at the National Assembly complex.

He said that because he would not be able to attend the meeting due to other official engagements, he delegated three members of the committee and a clerk to meet with the Binance six-member team, including a legal counsel.

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The lawmaker said that the meeting was professional, transparent and ended on a cordial note, with no demands for any bribe.

“Despite agreeing to attend the public hearing, Binance’s CEO, Richard Teng, failed to appear on multiple occasions.

“Instead, the company sent legal representatives, a move the committee rejected. The hearing was postponed several times to accommodate Binance’s requests; neither Teng nor any other senior Binance executive attended,” he said.

Onwusibe said that Binance’s truancy raised serious concerns about its willingness to cooperate with Nigerian authorities.

“I was surprised to discover, through a May 7, 2024, blog post by Richard Teng, that Binance executives were also under investigation by Nigeria’s security agencies, including Department of State Services (DSS) and the Office of National Security Adviser (ONSA),” he said.

The lawmaker said that “Teng’s post, entitled: “Tigran Gambaryan is Innocent and Must Be Released”, contained defamatory claims against him.

“I instructed my lawyer, Nnamdi U. Nwokocha Ahaiwe, to demand an apology and damages. Binance, however, refused to retract the statements or offer any compensation,” he said.

Onwusibe said that he filed a suit against Binance and Tengat at the High Court of the Federal Capital Territory on Sept. 18, 2024, seeking an apology, a retraction and $3 billion in damages.

According to him, the case, which first came up for hearing on Jan. 22, is set to continue on Feb. 19.

The lawmaker, however, dismissed the latest allegations by Gambaryan, saying that they were desperate attempts by Binance to deflect attention from its own legal troubles.

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He maintained that neither he nor his committee coordinated with Nigerian security agencies in their investigation of Binance.

The lawmaker also denied allegations that the DSS, ONSA, Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC) or Nigerian Financial Intelligence Unit (NFIU) were involved in the legislative probe.

He described Binance as a company with a troubling history of legal infractions in multiple countries.

The lawmaker particularly cited the case of Binance’s founder and former CEO, Changpeng Zhao, who, he said, was sentenced to four months in prison in the United States for financial crimes, including money laundering.

He also pointed to the company’s record fines in U.S.A., Canada, India and Uzbekistan for violating anti-money laundering and financial regulations.

Onwusibe lamented that many Nigerians were quick to believe Binance’s version of events without critically examining the facts.

He said the accusations had not only damaged his reputation but had also been used to mock his political party, Labour Party, and even his ethnic group.

Onwusibe, however, said that in spite of the attacks, he remained determined to clear his name.

While insisting on pursuing his lawsuit to its logical conclusion, the lawmaker said that he would also continue to defend the integrity of the Nigerian legislature.

He accused Binance and its executives of attempting to use media blackmail to escape accountability.

According to him, the company’s actions, including the alleged escape of one of its executives from Nigerian custody, have proved that it is acting in bad faith.

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Onwusibe reiterated his interest in ensuring that Binance was held accountable for any financial misconduct.

He maintained that the committee’s investigation was conducted fairly and in line with its legislative duties.

The legislator advised Binance to go and face its case in court and stop blackmailing people. (NAN)

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Matawalle Meets Chinese Defence Firm To Bolster Nigeria’s Anti-Terrorism Capabilities

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The Honourable Minister of State for Defence, Dr. Bello Muhammed Matawalle, has engaged in a high-level security meeting with a leading Chinese manufacturer of advanced anti-terrorism and high-tech defence equipment, aimed at enhancing Nigeria’s defence capabilities.

The meeting, which took place in China, underscores the Federal Government’s commitment to modernising the nation’s security apparatus to combat insurgency and other threats.

According to a statement signed by the minister’s Personal Assistant (Media), Ahmad Dan-Wudil, and made available to journalists in Abuja on Wednesday, the engagement focused on formalising a strategic partnership through a Memorandum of Understanding (MoU) between the Chinese firm and the Defence Industries Corporation of Nigeria (DICON).

The collaboration is expected to play a pivotal role in advancing Nigeria’s security sector, aligning with President Bola Ahmed Tinubu’s vision for a comprehensive overhaul of the country’s defence framework.

The MoU outlines a robust partnership, with the Chinese company committing to significant investments in Nigeria’s defence infrastructure.

According to the statement, Key components of the agreement include the transfer of cutting-edge defence technology, the establishment of local manufacturing capabilities for advanced military equipment, and capacity-building initiatives to enhance the technical skills of Nigerian personnel.

“This move is seen as a step towards building a self-reliant and globally competitive military-industrial base.

Dr. Matawalle emphasised that the partnership represents a landmark achievement in Nigeria’s defence modernisation agenda.

“This collaboration will not only strengthen our fight against terrorism but also position Nigeria as a regional leader in defence technology,” he stated.

The minister highlighted the government’s determination to leverage international partnerships to address the nation’s evolving security challenges.

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Under the terms of the agreement, new production lines will be established for various ammunition types, including 7.62x51mm ball cartridges, 7.62x51mm blank cartridges, 9x19mm pistol cartridges, and machine gun ammunition.

Additionally, manufacturing workshops and facilities will be set up in Kaduna and Kachia, Kaduna State, to produce essential defence components such as brass casings and bullet jackets.

The partnership extends beyond production, encompassing the maintenance and upgrading of existing military hardware, servicing of battle tanks, and the provision of military engineering services.

These efforts are expected to enhance the operational readiness of the Nigerian Armed Forces, enabling them to respond more effectively to security threats within the country and across the region.

The minister’s visit to China follows a series of engagements with international partners, including the United States and Saudi Arabia, as part of Nigeria’s broader strategy to strengthen bilateral defence ties.

In a recent meeting with the United States Africa Command (AFRICOM), Dr. Matawalle called for increased support in intelligence sharing and counterterrorism efforts, underscoring the need for global cooperation to tackle insecurity.

The agreement with the Chinese firm has been hailed as a critical step towards achieving President Tinubu’s Renewed Hope Agenda, which prioritises security, economic development, and private-sector involvement.

The minister reiterated the government’s openness to foreign investment in critical sectors such as defence, steel, and energy to drive technological advancement and job creation.

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Gamblers Predict New Pope as Betting Sites Place Odds on Top Candidates

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Gamblers are staking millions of dollars to predict who will emerge as new pope as betting sites place odds on the candidates as the Catholic Church cardinals sweat to pick a new pontiff.

Polymarket, an American cryptocurrency-based betting site, has placed odds on candidates who will emerge.

Similarly, Kalshi, another American betting site, is coordinating predictions on who emerges as the new Catholic pope.

On Polymarket, over $21 million worth of bets have been staked in the conclave election, in which Vatican Secretary of State Cardinal Pietro Parolin and Filipino Cardinal Luis Antonio Tagle are considered the leading candidates.

Mr Parolin leads with 27 per cent odds, while Mr Tagle comes second with 23 per cent odds. Matteo Zuppi, Pierbattista Pizzaballa, and Peter Erdo came third, fourth and fifth with 11, 10 and 7 per cent odds, respectively.

On Kalshi, where over $8milliom has been staked, Mr Parolin leads with 29 per cent odds, followed by Mr Tagle’s 22 per cent odds and Mr Pizzaballa’s 10 per cent odds.

This comes as 133 cardinals from across the globe commenced a conclave to decide who would emerge as the new pope on Thursday.

Though conclave elections have been highly unpredictable for years, gamblers throw in thousands of dollars for a possible kill should their candidate emerge.

In 2013, contrary to projections on the possible emergence of Cardinal Angelo Scola, who was then regarded as the favourite, Cardinal Jorge Mario Bergoglio emerged as Pope Francis.

On Wednesday, thick black smoke billows from the Sistine Chapel chimney at the end of the first meeting of the cardinals, signalling that no pope has been elected.

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The election of the 267th pope, which commenced on Wednesday. A new pope will poll a two-thirds majority to emerge during the election process.

Then, white smoke will be released from the Sistine Chapel chimney.

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ECOWAS Free Movement: Tinubu Initiates Dismantling of Checkpoints

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President Bola Tinubu has mandated the formation of a Presidential Task Force aimed at eliminating numerous checkpoints that impede free movement.

Ambassador Musa Nuhu, Nigeria’s Permanent Representative to ECOWAS, revealed this initiative during a visit to the Nigeria-Benin Republic border in Seme on Wednesday.

“We are commencing with the Seme-Badagry Corridor. A committee has been established under the auspices of the Secretary to the Government of the Federation, and we will soon begin addressing this matter.

“We have taken note of all the concerns raised, and I assure you that the Nigerian government will tackle the other issues mentioned subsequently.”

Numerous complaints have surfaced regarding the excessive checkpoints along the Badagry-Seme corridor, which adversely affect the seamless movement of individuals and goods between Nigeria and the Benin Republic.

Ambassador Nuhu emphasized, “This is the most trafficked border in West Africa regarding the flow of goods, people, and services. If free movement is to be effectively implemented in West Africa, it will be evident at this border.”

Motorists attending the meeting expressed their frustrations about the numerous checkpoints and the extortion practices by security personnel along the route.

In response, Omar Alieu Touray, President of the ECOWAS Commission, stated that any fees paid by motorists should be accompanied by official receipts.

He expressed concern that the proliferation of checkpoints and the extortion of citizens within member states undermine ECOWAS’s goal of fostering a more integrated region.

“While we must inspect passengers and road users, we should move beyond arbitrary charges that lack receipts. If payments are necessary, they should be properly documented.

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“It is one thing to request that someone open their bags for inspection, but it is entirely different to demand payment that is not receipted.”

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