Federal Gov’t Applies Due Process In Binance Trial – Minister

-

 
Amid continuing interest in the ongoing trial of online platform, Binance and one of its Chief Executives accused of illegally trading in cryptocurrency in Nigeria, Minister of Information and National Orientation, Mohammed Idris has stated that due process is being applied at all stages of the trial in accordance with the laws of the Federal Republic of Nigeria.
The Minister stated this in a statement to newsmen in  Abuja on Wednesday, “At all stages, due process has been followed, and prosecutors are confident of their case based on the facts and evidence gathered.

“Binance will have every opportunity to defend itself in court against these severe charges of financial crimes against the Federal Republic of Nigeria. The next hearing is on June 20, 2024.”

Idris explained that Binance, the defendant in the case has received consular access and all due care, following normal diplomatic protocols and the rule of law.

He added that the judge in the case denied bail to the defendant due to the flight risk after a co-accused, now the subject of an Interpol warrant, illegally absconded.

He noted that Binance had a turnover in Nigeria of over US$20 billion in 2023 alone, far exceeding the federal budget for health and education, fueling currency speculation and the cost-of-living crisis.Idris highlighted that, in addition, Binance is not a registered company in Nigeria and has never paid any taxes within the Nigerian jurisdiction, having operated without oversight or any of the normal safeguards to detect criminal activity.

The minister noted as important, that Binance is an entity whose representatives have been variously imprisoned, fined, sanctioned, and banned in North America, Europe, and Asia in recent years.

“Changpeng Zhao, the billionaire co-founder and former CEO of Binance, is currently serving a four-month prison sentence in the United States after being found guilty of money laundering, while Binance has openly accepted its role in facilitating terrorism, corruption, sanctions evasion, and aiding and abetting peadophile gangs,” the minister noted.

He added that law enforcement agencies believe Binance’s operations in Nigeria are part of a broader international pattern, maintaining that it will be for the courts in Nigeria, as in other jurisdictions, to hold the company and its executives accountable.as in other jurisdictions, to hold the company and its executives accountable.


Comments

Post a Comment

Message Sent

Popular posts from this blog

Detty December: Lagos night clubs raked in N4.32b revenue

-
Image
  Lagos nightclubs generated a staggering N4.32 billion ($2.7 million) during the December period, a new report claims. The report by advisory firm MO Africa Company Limited analysed data from November 19 to December 26, highlighting how the city’s vibrant hospitality and tourism sectors attracted travellers from across the globe. Lagos alone welcomed an estimated 1.2 million tourists, of which 60% were domestic travellers, the report revealed.   This surge was partly attributed to insecurity in southeastern Nigeria, which prompted many to prioritise Lagos which is deemed safer.   Most arrivals came for leisure and tourism, while preferred destinations in Nigeria, for visitors coming from abroad, included Lagos, Edo, Delta, Ondo, and Ogun states.   Kayode Omosebi, CEO of MO Africa Company Limited, says his team surveyed hotels, airports, short-let agents, and nightclubs to compile the data. Omosebi noted the increasing reliance on cryptocurrency in Lagos’ h...
Read more

Meet the world's hottest transgender - Amiyah Scott

-
Image
Yep, all that used to be male. Her name is Amiyah Scott, but she was born ‘Arthur Scott’ in New York in 1988. She's a transgender model and make-up artist. Arthur started the process of turning into a woman when he was 17. He got breast augmentation, booty shots, light filler in the cheeks etc etc.  by linda ikeji       
Read more

There’s no perfect blueprint for marriage, but there is power in choosing to stay and build together - Dare Art-Alade’s wife, Deola, writes as they celebrate 18th wedding anniversary

-
Image
Singer, Dare Art-Alade and his wife, Deola are celebrating their 18th wedding anniversary today November 30.   In a post shared on her Instagram page today, Deola listed the reasons they have remained marriage after all these years.    She wrote; ‘’18 Years of Love, Lessons, and Growth.   Today, we celebrate 18 incredible years of marriage. 18 years of laughter, tears, joy, trials, victories, and everything in between. Standing here together, we know this truth: love isn’t perfect, and neither are we. But that’s what makes it so beautiful.   Marriage is a journey, not a destination. There were days we laughed so hard we couldn’t breathe, and there were days we weren’t sure we’d make it through. There were seasons of sunshine, and there were storms that tested the strength of our foundation. But through it all, we chose each other. Over and over again.   This milestone reminds us that real love is work. It’s showing up for your partner even when it’s hard. I...
Read more