BINANCE FALSE CLAIM ON BRIBERY DIVERSIONARY . (PHOTO). #PRESS RELEASE.

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 FEDERAL MINISTRY OF INFORMATION AND NATIONAL ORIENTATION  PRESS STATEMENT  BINANCE FALSE CLAIM ON BRIBERY DIVERSIONARY  The Federal Government of Nigeria is aware of attempts by Binance to launder its impaired image as an organisation that does not play by the rules and laws guiding business conduct in sovereign nations. In a blog post that has now been published by many international media organisations, in an apparent well-coordinated public relations effort, Binance Chief Executive Officer Richard Teng made false allegations of bribery against unidentified Nigerian government officials who he claimed demanded $150m in cryptocurrency payments to resolve the ongoing criminal investigation against the company.  This claim by Binance CEO lacks any iota of substance. It is nothing but a diversionary tactic and an attempted act of blackmail by a company desperate to obfuscate the grievous criminal charges it is facing in Nigeria. The facts of this matter remain that Binance is being inve
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OFFICE OF THE VICE PRESIDENT:PRESIDENT BUHARI APPROVES FORMATION OF TRILLION NAIRA COMPANY TO ADDRESS INFRASTRUCTURE DEFICIT .{PHOTOS}.#PRESS RELEASE.

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President Muhammadu Buhari has approved the establishment of a Public Private Partnership styled Infrastructure company named Infra-Co with an initial seed capital of N1 Trillion.
It is envisaged that, over time, the entity will grow to N15 Trillion in assets and capital.
Infra-Co will be one of the premier infrastructure finance entities in Africa and will be wholly dedicated to Nigeria’s infrastructure development. The entity has been developed with concept designs from the National Economic Council (NEC) and the Central Bank of Nigeria.
The President had asked Vice President Yemi Osinbajo, SAN, to chair a Steering Committee tasked with setting up the company.
The initial seed capital for the entity will come from the Central Bank of Nigeria, the Nigerian Sovereign Investment Authority, NSIA, and the Africa Finance Corporation.
The board of Infra-Co will be chaired by the Central Bank Governor and include the Managing Director of the Nigerian Sovereign Investment Authority, President of the Africa Finance Corporation, as well as representatives of the Nigerian Governors Forum, and the Ministry of Finance, Budget and National Planning. The Board will also have 3 independent directors from the private sector.
To address Nigeria's infrastructure deficit, the Buhari Administration continues to explore innovative options, including through financing initiatives such as the Presidential Infrastructure Development Fund (PIDF) designed to cater for the 2nd Niger Bridge, the Abuja-Kaduna-Zaria-Kano Expressway, and other projects.
There is also the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme which is being used for the funding of the Bodo-Bonny Bridges and Road (with the Nigeria Liquefied Natural Gas, NLNG), and the Apapa-Oshodi-Oworonshoki Expressway (with Dangote Group), among others.
Infra-Co will finance public asset development, rehabilitation and reconstruction as well as invest in cutting edge infrastructure projects for Roads, Rail, Power and other key sectors.
Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
12th February, 2021
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