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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FRC BEGINS VERIFICATION OF N2. 9TRN CAPITAL PROJECTS. (PHOTO).

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 FRC begins verification ofN2.9trn capital projects


The Fiscal Responsibility Commission (FRC) is set to begin physical verification of selected Federal Government capital projects valued at N2.9 trillion across the six geo-political zones of the country.

According to a NAN report, the Executive Chairman of the commission, Victor Muruako, made this known in a statement by Bede Anyanwu, Head, Strategic Communication Directorate in Abuja on Saturday.

Muruako enjoined the officials who would be going for the exercise to carry out the assignments with great diligence and a sense of purpose as the exercise is one of the core mandates of the commission.

“Ensure that you verify the actual existence of the projects as well as monitor the progress of the work done so far.

“The verification exercise is further designed to give a fillip to President Bola Tinubu’s renewed hope agenda in the area of prudence, value-for-money and transparency.

“The effort is to meet the yearnings of the people,” he said.

The chairman said that the verification must also be done within the ambit of the Medium Term Expenditure Framework (MTEF).

According to him, the reason for this verification exercise is to ensure that the government embarks on projects that it can fund.

He said that the verification exercise is also to determine projects that need funding in line with the completion targets. “With the MTEF cases of abandoned projects will cease to exist.

“The aim is to reduce approvals for new capital projects for Ministries, Departments and Agencies (MDAs), where the existing indebtedness to contractors is in billions of Naira, to the barest minimum,” he said.

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