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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REPS COMMITTEE VOWS TO RECOVER $20B REVENUE FROM OIL SECTOR.(PHOTO).

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Reps Committee Vows To Recover $20B Revenue From Oil Sector 


House of Representatives committee on Petroleum Resources downstream has pledged to assist the Federal Government to recover over twenty Billion US dollars revenue from the sector. 


The committee also said it will review the implementation of Petroleum Industry Act (PIA) to remove bottlenecks and allay fears of stakeholders in the petroleum sector.


The chairman of the committee Mr Ikeagwuonu Ugochinyere, who made the remark during the Innaugural meeting of the committee, said they 

will legislate for energy security, professionalism in the petroleum sector, economic transformation, accountability, institutional reforms and revenue recovery and generation. 


According to him, the House has received in plenary the NEITI report that have far reaching recommendations both in the downstream, upstream and midstream sector, especially the issue of over $8.5 billion unremitted royalties and other oil revenues and the discrepancies that have to do with the quantity of PMS imported by the NNPCL. 


"The implementation of the PIA which has become a major concern to key stakeholders would be reviewed by this committee. What was done before the PIA. What they are doing after the PIA. 


"The assets that used to be national assets before the coming into effect of the PIA. Where are they? Who is with them? All these the committee would look into to ensure that the intention of the PIA is achieved.


Mr Ugochinyere said the committee is aware of the pains Nigerians are going through as the result of removal of oil subsidy, hence the committee will also undertake a comprehensive audit of the Subsidy regime which he said was done away with because it was corrupted.

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