CBN DEBUNKS FAKE NEWS ON NEW N5,000 AND N10,000 BANKNOTES.(PHOTO).

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  The Central Bank of Nigeria (CBN) has dismissed a viral claim circulating on social media about the introduction of new ₦5,000 and ₦10,000 banknotes, labeling it as fake news. The claim, which included fabricated images of the supposed new denominations featuring Dr. Nnamdi Azikiwe and Chief Obafemi Awolowo, falsely stated that the new notes would enter circulation from May 1, 2025. In a statement on its verified Facebook account, the CBN clarified that the content is not from the bank and directed the public to its official website, (www.cbn.gov.ng), for authentic information. The bank warned against spreading misinformation regarding monetary policies and urged Nigerians to rely only on official statements from its verified channels. The CBN reaffirmed that any major policy decision, including the introduction of new banknotes, would be announced through its official platforms. The public is advised to remain cautious and verify financial information from credible sources befor...
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TURKISH CRYPTO BOSS BAGS 11,196 YEARS FOR FRAUD, OTHERS.(PHOTO).

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Turkish crypto boss bags 11,196 years for fraud, others


A 'disgraced' Turkish crypto founder who fled to Albania and his two brothers have been sentenced to 11,196 years in jail each, the Anadolu state news agency reported Friday.

Prosecutors had asked for Thodex boss Faruk Fatih Ozer, 29, to be sentenced to 40,562 years in prison for money laundering, fraud and establishing a criminal organisation.

“If I were to establish a criminal organisation, I would not have acted so amateurishly,” Anadolu quoted Ozer as telling the court.

His two brothers, Serap and Guven, received the same sentence, which was issued late Thursday after a brief trial, Turkish media reports said.

Turkey is known for issuing massive prison sentences, which became more common after it abolished the death penalty in 2004 to help its efforts to join the European Union.

Ozer was initially reported to have fled Turkey in April 2021 with $2 billion in investor assets, although that figure has since been disputed.

Prosecutors said Ozer had transferred 250 million liras in user assets (worth about $30 million at the time) to three secret accounts when he fled Turkey in April 2021, with much of the money ending up in a Malta bank.

The indictment said the Ozer brothers had caused 356 million liras of damage to clients in all.

The case grabbed local headlines because it coincided with a Turkish crypto boom that has since largely subsided due to heavier government regulation.

Turks began turning to various cryptocurrencies as a defence against a deep slide in the value of the lira that began more than two years ago.

Ozer gained further celebrity status after being pictured meeting with ultranationalist pro-government figures.
He was arrested last year in Albania on an international arrest warrant from Interpol.

— AFP

 

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