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Why Cryptocurrency, Forex platforms should be banned – Tinubu’s Media Adviser, Onanuga

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Bayo Onanuga
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The Special Adviser to President Bola Tinubu on Information and strategy, Bayo Onanuga, has called for the ban of Cryptocurrency and Foreign Exchange (Forex) platforms operating in the country.

In a post via his official X handle on Wednesday, Onanuga said crypto platforms such as Binance and Kucoin, and forex aggregator like AbokiFX and OctaFx should be banned again.

Onanuga made the statement while reacting to a comment by an X user, Mikael C. Bernard, who shared posts on cryptocurrency and FX rates And stated that “Naira is going to zero”.

The presidential aide said Binance is blatantly setting the exchange rate for Nigeria and hijacking the role of the Central Bank of Nigeria (CBN).

He said the crypto trading platform is facing restrictions in many countries, stressing that crypto should be banned in the country or else this bleeding of our currency will continue unabated.

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Onanuga called on the Economic and Financial Crimes Commission (EFCC) and the CBN to move against the platforms, adding that the firms are trying to manipulate our national currency to ground zero.

He wrote: “According to Data Wallet, Binance is prohibited in the United Kingdom by the Financial Conduct Authority from conducting any regulated activities. In Japan, the Financial Services Agency (FSA) banned Binance for operating without the necessary regulatory approval,” the presidential aide said.

Ontario, Canada, has also suspended Binance services following its inability to meet the province’s securities regulation criteria. The Monetary Authority of Singapore also banned Singaporean investors from accessing Binance’s services.

“Binance, facing regulatory showdown in many countries, and causing disruptions in the currency market, should not be allowed to dictate the value of the Naira, not on its crypto exchange platform.

“Other crypto platforms such as Kucoin, Bybit should be banned from operating in our cyberspace. FX platform Aboki should be re-banned.”

Onanuga’s call for a ban on cryptocurrency trading platforms followed the directive of the CBN on February 5, 2021, to Banks, Non-Bank Financial Institutions (NBFIs), and Other Financial Institutions (OFIs), to close accounts of persons or entities involved in crypto transactions.

CBN cited concerns over money laundering, terrorism financing, cybercrime, and the volatility of cryptocurrencies as reasons for the ban.

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Obi donates ₦10m to Faith Foundation Nursing College, urges Youths to reject ethnic politics

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Mr. Peter Obi (right) presenting the ₦10 million cheque to the Proprietor of Faith Foundation College of Nursing Sciences, Rt. Rev. Dr. Aloysius Agbo (left), during his visit to inspect ongoing projects at the institution in Nsukka.
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The presidential candidate of the Nigeria Democratic Congress( NDC) in the 2027 elections, Mr Peter Obi, yesterday visited the Faith Foundation College of Nursing Sciences, Nsukka, where he expressed delight at the progress of projects underway at the institution.

Obi, who inspected some of the ongoing projects, was received by the Proprietor of the College, Rt. Rev. Dr. Aloysius Agbo, who expressed appreciation for Obi’s longstanding support for the institution.

Agbo disclosed that Obi’s earlier financial contributions had played a significant role in giving the institution the confidence to embark on many of the projects currently under construction.

The Proprietor said the support had encouraged the management to continue investing in the development of the institution and its facilities.

In continuation of his support for the institution, Obi presented a cheque of ₦10 million towards the ongoing projects.

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He also assured the management that he would continue to partner with the institution until it realises its objective of producing its first set of nurses.

Obi said his intervention was part of his broader commitment to supporting education and healthcare, particularly the training of quality healthcare professionals who would contribute to strengthening Nigeria’s healthcare system.

He thereafter proceeded to St. Paul’s Anglican Cathedral, Nsukka, where he participated in the 68th Annual Conference of Anglican Youths.

Addressing the youths, Obi urged them to recognise their responsibility in building a new Nigeria, stressing that the country they desire cannot emerge without their active participation in shaping its future.

He urged them to reject politics based on tribe, religion or language and instead insist on electing leaders with proven character, competence, capacity, integrity and strong ethical values.

According to him, the future of Nigeria depends not only on the leaders the country produces but also on the standards citizens demand from those who seek public office.

“Our future depends not only on the leaders we produce but also on the standards we demand. Together, we can build the New Nigeria that is possible,” he said.

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Gunmen invade Kogi communities, kill residents

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Bandits kill over 30 in fresh attack on Benue
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Several people were feared killed on Thursday when armed men reportedly attacked three communities in Kupa Kingdom — Abugi, Kuchinda and Mikugi — in Lokoja Local Government Area of Kogi State in an alleged reprisal attack.

Residents said the incident began around 8am when a herder, suspected of being a cattle rustler, was shot and killed during a heated altercation with local vigilantes at a checkpoint in the community.

“Few hours after the checkpoint incident between a herder and vigilantes, armed hoodlums invaded the town, shooting sporadically from different directions.

“In the process, several residents were killed, with many others sustaining injuries, as the armed hoodlums attacked streets, markets and even the palace of our paramount traditional ruler in the town.

“As of yesterday night, seven people were confirmed dead. The death toll may rise in the days ahead as the search for and confirmation of victims is still in progress.

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“Moreover, the situation will become clearer when families who sought refuge in safer communities start returning from their various hiding places,” Ahmed, a resident of Abugi, said.

A son of the Mayaki of Kupa, Prince Aliyu Isah Kabir, who is the APC Youth Leader of Kupa South Ward, was confirmed to be among the victims of the attack.

The Lokoja Local Government Chairman, Comrade Abdullahi Adamu, confirmed the incident, saying the attack on the Kupa communities had led to loss of lives and destruction of property.

Adamu said: “We have charged the relevant security agencies to swing into action and arrest anyone who has a hand, directly or remotely, in the attack and bring them to face the law.

“The government is saddened by this devilish act and will leave no stone unturned in getting justice for the deceased. I want to appeal for calm while the relevant security agencies take action.”

The Kogi State Government also condemned the attack, describing it as tragic, senseless and unacceptable.

In a statement issued on Friday, the state government described the incident as a reprisal attack and vowed to investigate the circumstances surrounding it, identify those responsible and prosecute them as a deterrent to others.

In the statement signed by the Commissioner for Information and Communications, Kingsley Fanwo, the government said: “The Kogi State Government condemns in the strongest terms both the killing of the unarmed herder and the subsequent reprisal attack.

“These are criminal acts that have no place in our society. Anyone found to have participated in either incident, regardless of status or ethnic affiliation, will face the full weight of the law.

“We appeal to all residents to remain calm and resist the temptation of reprisals. We also urge members of the public to cooperate with security agencies by providing credible information that will aid ongoing investigations and the arrest of all those responsible.”

According to the statement, Governor Ahmed Usman Ododo sympathised with the families of the deceased and directed “security agencies to immediately restore calm, take control of the situation and apprehend those responsible for the killings.”

The government also appealed for calm, urging residents to avoid further retaliation and provide security agencies with credible information as investigations into the incident continue.

Meanwhile, the Kogi State Police Command was contacted over the development, but its spokesperson, ASP Saliu Oyiza Afusat, did not respond to calls and a text message as of the time of filing this report. (Daily Trust)

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PFIPC probe: ICPC uncovers two more fake agencies linked to Adeyemi

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Adeniyi Matthew Adeyemi
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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two more fake agencies operated by the self‑styled Director‑General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Matthew Adeyemi.

ICPC Chairman Dr. Musa Adamu Aliyu, SAN, disclosed this while briefing State House correspondents after he submitted the commission’s interim report on the existence and operation of the fake agency at the Presidential Villa, Abuja.

Dr. Aliyu said the investigation revealed that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council was never established by law or executive order.

According to the interim report, the appointment letter presented by Adeyemi was forged, while the PFIPC illegally appropriated offices and instruments from the former Presidential Economic Advisory Council (PEAC).

He said the fake agency, using the former PEAC office, engaged in false representation, widespread impersonation and various illegal activities that exploited weaknesses in verification and inter‑agency oversight.

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He further stated that the investigation uncovered two additional fake government agencies: the FCT Investment Promotion Agency (PIFA) and the Foreign Investment Promotion Agency (PIPA).

“These agencies were created using forged legislative instruments and were used to open bank accounts for illegal activities,” he said.

The ICPC boss said Adeyemi changed the name of the fake agency from Foreign Investment Promotion Council to Foreign Intervention Promotion Council and attempted to expand its mandate to include revenue generation.

He said: “The investigation found no funds were approved or disbursed for the fake PFIPC/PEAC, and there were no weaknesses in the State House or CBN system.”

Some recommendations of the committee, which was given 30 days to unravel the mystery behind the existence of the fake agency, include prosecution of Mr. Adeyemi; imposing administrative sanctions on public officers who facilitated the illegal operations; and instituting reforms to improve internal controls

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The public officers who were said to be collaborators are from the Office of the Secretary to the Government of the Federation (SGF), the Head of the Civil Service of the Federation, the Accountant‑General’s Office, the Budget Office and the National Information Technology Development Agency, NITDA.

“The report is interim and the investigation continues to uncover more details to file criminal charges against Adeyemi and his collaborators,” he said.

Dr. Aliyu added that President Tinubu has taken note of the findings and has expressed his commitment to transparency and accountability in addressing the issue.

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