Metro

‘It would be risky to release Binance executive from custody risky’, Nigerian govt says

Published

8 months ago

April 24, 2024

Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), believes admitting the detained executive of cryptocurrency firm, Binance Holdings Limited, Tigran Gambaryan, will be a big risk they are not willing to take.

The Commission which arraigned Gambaryan on Tuesday at the Federal High Court in Abuja, urged the presiding judge, Justice Emeka Nwite, to deny the bail application filed by Gambaryan and his legal team.

While presenting the agency’s position, the prosecuting counsel for the EFCC, Emeka Iheanacho, argued that it was too risky to admit the foreigner to bail following the experience with his co-defendant, Nadeem Anjarwalla, who escaped from the custody of the National Security Adviser (NSA) and fled to Kenya where he was rearrested by the Kenyan police last weekend.

“This court will be taking a grave risk to grant the defendant bail. This is also considering the fact that he has no attachment to any community in Nigeria,” Iheanacho said.

“The experience we have had with the man who escaped to Kenya while his United Kingdom passport is in Nigeria will certainly repeat itself if this defendant is granted bail.

“The 1st defendant (Binance) is operating virtually. The only thing we have to hold on to is this defendant. So, we pray My Lord to refuse bail to the defendant,” the EFCC prosecutor said.

Iheanacho further told the court that the agency had uncovered a plot hatched by Gambaryan to obtain a new passport to facilitate his escape from Nigeria after the EFCC had seized his passport within the same period that Anjarwalla fled the custody.

“There was an attempt by this defendant to procure another travelling document even when he was aware that his passport was in the custody of the state. He pretended as if the said passport was stolen.

“Because of the information we received, we ask that the defendant be kept in the EFCC custody so that he doesn’t escape. We will ensure that he is properly taken care of.

“Private inconvenience is preferable to public disgrace. My Lord, we urge this honourable court to refuse the bail request of the defendant and instead remand him in our detention facility.”

However, while Gambaryan’s bail application, his lawyer, Mark Mordi, said his continued detention was nothing but a purely state-sanctioned hostage taking as his client was being held by EFCC as a leverage to obtain information from his employer.

“He can’t go anywhere. The EFCC have his passport. Already, being here, unable to go meet his family, is enough torture.

“The proof of service does not contain one document that incriminates my client. I dare the prosecutor to bring it out for us to see.”

Mordi added the claim by the EFCC that his client was planning to escape from the country was a false and unreliable information based on hearsay and inadmissible evidence.

“The prosecution has not presented any credible evidence to establish why the defendant should not be granted bail,” he maintained, while praying the court to grant the defendant bail and stipulate conditions that would ensure his attendance at his trial.

After listening to presentations by both prosecutors, the Judge adjourned the case till May 17 for ruling.

Gambaryan and Binance Holdings Limited as well as Anjarwalla (in absentia), are being prosecuted by the EFCC on money laundering charges after they were accused by the anti-graft agency of concealing the source of the $35,400, 000 generated as revenue by Binance in Nigeria, knowing that the funds constituted proceeds of unlawful activity.

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Metro

Lungu: Zambian law association calls for respect of court decisions

Published

16 hours ago

December 12, 2024

Isaac Dachen

The Law Association of Zambia (LAZ) has called on citizens to respect court decisions amid widespread criticism over the barring of ex-President Edgar Lungu from contesting the 2026 presidential election by the Constitutional Court.

The association, while reacting to the ruling, urged those affected by the court’s judgement to respect its decision.

The Constitutional Court had determined that Lungu was ineligible to contest future elections, having already served two terms as Republican President, but the ruling has generated criticism from Lungu and opposition figures who see it as a ploy by President Hakainde Hichilema to silence the opposition.

However, LAZ, in a statement issued by its President Lungisani Zulu, noted that the decision departs from the Court’s earlier rulings in cases such as Daniel Pule and Others vs Attorney General and Others, Bampi Aubrey Kapalasa and Another vs The Attorney General, and Legal Resources Foundation vs Edgar Lungu and the Attorney General.

Zulu expressed concern over the potential risks posed by inconsistent rulings from the apex court, cautioning that such fluctuations could erode public confidence in the Judiciary.

However, Zulu reiterated the importance of respecting the Court’s authority.

“Under Part 8 of the Constitution of Zambia (Amendment) Act No. 2 of 2016, judicial authority, derived from the people of Zambia, is vested in the courts, which have the final say on constitutional interpretation,” he stated.

Zulu further stressed that the Constitutional Court plays a critical role in settling constitutional disputes and underscored the need for citizens to uphold the integrity of governance institutions, including the judiciary.

“At the same time, in line with Article 118 of the Constitution, we strongly remind the Judiciary to ensure that judicial power is exercised in a just and fair manner,” he added.

The LAZ President expressed hope that consistent and fair judicial decisions would enhance accountability and maintain public confidence in the Judiciary, a cornerstone of Zambia’s democratic governance.

Metro

Nigeria: President Tinubu’s reforms, economic policies yielding positive results— Minister

Published

16 hours ago

December 12, 2024

Isaac Dachen

Nigeria’s Minister of State for Defence, Bello Matawalle, has backed the reforms and economic policies embarked upon by President Bola Tinubu since coming into office in 2023, saying they are yielding significant positive results despite the hardship currently being faced by citizens.

Matawalle, who disclosed in a statement issued on Thursday in Abuja by the Director, Information and Public Relations in Ministry of Defence, Henshaw Ogubike, said Tinubu’s policies, which include the new tax reforms and several key reforms across various sectors, were already contributing to a turnaround in the country’s economy and would, in the long run, be of benefit to all Nigerians.

The former Zamfara State governor also urged critics of the Tinubu administration, particular those from Northern Nigeria, to be positive in their narrations.

“In the light of ongoing criticism, particularly from some quarters in Northern Nigeria, I urge critics to be positive in their narratives,” he said in the statement.

“I also call on citizens to remain steadfast in their support for the President and to reject divisive narratives.

“It is crucial for Nigerians to stand united behind Mr. President, who is diligently working hard to revitalise our economy through a series of effective policies, programmes, and reforms.

“Under President Tinubu’s leadership, we are witnessing a renewed commitment to the safety and well-being of all Nigerians, and I encourage everyone to recognise the positive changes taking place,” the minister said.

Highlighting the new tax reforms, Matawalle described them as pivotal elements in the country’s economic turnaround, emphasizing that the reforms were designed to create a more equitable tax system, which would enhance revenue generation for the government while easing the financial burden on ordinary citizens and small businesses.

“By broadening the tax base and ensuring that everyone pays their fair share, President Tinubu is laying the groundwork for sustainable economic growth.

“These reforms will not only increase government revenues but also stimulate investment and job creation across various sectors,” Matawalle explained.

According to him, this will foster a more business-friendly environment, encouraging entrepreneurship and innovation, which are essential for driving economic progress.