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Nigeria: Finance minister, Zainab Ahmed, confirms buying N1.4 billion vehicles for Niger on President Buhari’s order

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Amidst wave of outrage over news that the Federal of Government of Nigeria purchasing vehicles for Niger Republic, the Nigerian government has confirmed it actually did.

The Nigerian government admitted it indeed purchased vehicles worth N1.4 billion to help Niger tackle insecurity.

Nigeria’s Minister of Finance, Budget, and National Planning, Zainab Ahmed confirmed the position on Wednesday after the Federal Executive Council (FEC) meeting presided over by the President Muhammadu Buhari.

“This is not the first time that Nigeria has supported Niger, Cameroon or Chad, and the President makes an assessment as to what is required, based on the request of their president and such requests are approved and the interventions provided is to enhance their capacity to protect their own territory as it relates to security also to Nigeria.

“Nigerians have a right to ask questions, but also the President has a responsibility to make an assessment of what is in the best interests of the country. And I cannot question that decision.” Ahmed said.

Documents emerged on social media on Tuesday that showed that the president approved the release of the funds on February 22, 2022, for the Niger Republic.

The minister revealed that the decision was at the prerogative of President Muhammadu Buhari who approved the purchase.

Minister Ahmed explained that providing intervention to the neighboring Niger Republic is not new. She added that the financial support, which is primarily for the purpose of enhancing capacity to protect their territory, based on a request by the Nigerien Government, is also in the best interest of the country.

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Binance vs Nigeria: Court adjourns hearing on right abuses 

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The office of Nigeria’s National Security Adviser and an anti-graft agency— the Economic and Financial Crime Commission (EFCC)— have been sued by two executives of Binance, the biggest cryptocurrency exchange in the world, for allegedly violating their fundamental rights following their recent arrest.

Following Nigeria’s decision to outlaw several cryptocurrency trading websites, United States citizen Tigran Gambaryan, who oversees financial crime compliance for Binance, and British-Kenyan Nadeem Anjarwalla, regional manager for Binance in Africa, took a plane to Nigeria on February 26 and were arrested upon arrival.

Anjarwalla may now be subject to an international arrest warrant after reportedly escaping Nigerian custody last week.

Last month, Nigeria’s central bank governor revealed that Binance is under investigation in Nigeria due to “suspicious flows” of cash through Binance Nigeria in 2023. Government organizations such as the Securities and Trade Commission of the nation are already wary of the cryptocurrency trade.

In a court appearance on Thursday, Gambaryan asked Judge Iyang Ekwo of the Federal High Court in the country’s capital, Abuja to rule that the National Security Adviser and the Economic and EFCC detention and seizure of his passport “amounts to a violation of his fundamental right to personal liberty” as stipulated by the Nigerian constitution.

The Binance chiefs also demanded a public apology, a restraining order to prevent them from being detained any longer, and an order to be released and return their passports. They said they had not been told of any offences.

Due to the absence of attorneys from the EFCC and the Office of the National Security Adviser (ONSA), the judge adjourned the hearing till April 8 without rendering a decision. Nigeria is currently struggling with ongoing dollar shortages, a situation that has made several cryptocurrency websites become the go-to venues for trading Nigerian currency.

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Kenya, Uganda settle oil import dispute

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In an effort to patch things up between the two neighbours, Kenya will permit Uganda’s landlocked state oil company to import petroleum products through its port of Mombasa, the country’s energy ministry said on Thursday.

After decades of receiving their cargo through affiliated firms in Kenya, Uganda has been looking for alternative ways to import petroleum products, including through a port in Tanzania. According to Solomon Muyita, a spokesman for Uganda’s ministry of minerals and energy, the first shipment under the new arrangement is scheduled for May.

“Kenya has agreed to give us a licence, UNOC (Uganda National Oil Company) is now free to import through Mombasa,” he said.

According to reports, UNOC would use the Kenya Pipeline Company to transport the goods, so Kenya would still profit from the agreement, according to Kenyan Energy Minister Davis Chirchir.

In 2022, Uganda imported petroleum products valued at $1.6 billion, the majority of which came from the Gulf. Kenya serves as the import gateway for about 90% of the goods.

It declared in November that it would transfer all exclusive petroleum product supply rights to a division of the international energy trader Vitol, which would subsequently supply UNOC.

According to what the government said at the time, using Kenyan companies to import oil had “exposed Uganda to occasional supply vulnerabilities” whereby Ugandan retail companies were viewed as secondary whenever there were supply disruptions changing retail prices.

The two African nations that make up the Great Lakes are partners in a variety of fields, including trade, infrastructure, energy, education, agriculture, and military security.

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