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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SHARE HOW N400BN IN FUEL SUBSIDY SAVINGS WAS SPENT, SERAP URGES TINUBU. (PHOTO).

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Share how N400bn in fuel subsidy savings was spent, SERAP urges Tinubu 

The Socio-Economic Rights and Accountability Project has urged President Bola Ahmed Tinubu to use his good offices and leadership position to “urgently publish details of spending of about N400bn so far saved as a result of the removal of subsidy on Premium Motor Spirit popularly known as petrol.”

He was urged by SERAP to “provide details of the plans on how subsequent savings from the removal of petroleum subsidy would be used, including specific projects on which the funds would be spent, and the mechanisms that have been put in place to ensure that any such savings are not embezzled, misappropriated, or diverted into private pockets.”

According to reports, the Federal Government saved N400 billion in the four weeks following the implementation of the policy on the removal of petrol subsidy payments.   

In the letter dated July 1, 2023, and signed by SERAP deputy director Kolawole Oluwadare, the organisation said, “Your government has a legal responsibility to ensure that the savings from the removal of subsidy on petrol are spent solely for the benefit of the 137 million poor Nigerians who are bearing the brunt of the removal.

 

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