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SEC Bans Binance Operation In Nigeria

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SEC Bans Binance Operation In Nigeria

SEC Bans Binance Operation In Nigeria

The Securities and Exchange Commission (SEC) of Nigeria has declared the activities of Binance in Nigeria illegal.

According to a statement published on its website, any Nigerian trading on Binance Nigeria Limited, a subsidiary of the well-known global cryptocurrency exchange Binance, is doing so at his or her own risk.

SEC noted that the company’s activities are in violation of Nigerian law, urging Nigerians to exercise caution when dealing with unregistered and unregulated platforms such as Binance Nigeria.

The statement reads: “The attention of the Securities and Exchange Commission (the Commission) has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.

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“Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at his/her own risk.

“As the regulator with the statutory mandate of investor protection, the Commission urges Nigerians to be wary of investing in crypto-assets, and crypto-asset related financial products and services if the service provider/its platform is not registered or regulated by the Commission. Nigerian investors are hereby warned that investing in crypto-assets is extremely risky and may result in total loss of their investment

“By this circular, Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever.

“The Commission shall provide updates on further regulatory actions with respect to the activities of Binance Nigeria Limited, and other similar platforms and shall work with other regulators in Nigeria to provide further guidance on this matter.”

SEC Bans Binance Operation In Nigeria

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China accuses Biden of tariffs hike on electric cars

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China accuses Biden of tariffs hike on electric cars

China accuses Biden of tariffs hike on electric cars

China has accused U.S. President Joe Biden of slapping new tariffs on Beijing as part of his re-election campaign and threatened retaliation.

“The U.S. should immediately correct its wrong practices and cancel the additional tariffs imposed on China,’’ a statement from the Beijing Ministry of Commerce said.

China would “take resolute measures to defend its own rights and interests after the U.S. decided to take this step due to domestic political considerations.’’

The U.S. is increasing tariffs on electric cars from China from 25 per cent to 100 per cent as part of a crackdown on Chinese imports, with solar cells, semiconductors.

Harbour cranes and certain medical products were also affected.

The official Chinese state news agency Xinhua added.

“The newly announced tariff increase is mainly a symbolic gesture by which the Biden administration is trying to play tough with China amid the increasingly fierce election campaign for the presidential candidacy.’’

The current tariffs, which were first introduced by former U.S. president and current Biden challenger Donald Trump in 2018 and have now been increased by the Biden administration.

The Biden administration already effectively kept Chinese vehicles out of the U.S. car market.

The Chinese state broadcaster CCTV spoke of an abuse of trade protectionist measured by the U.S. which would seriously hinder the modernisation of the U.S. car industry.

Negative effects are also to be expected for consumers, CCTV said, adding that the moves would also undermine global efforts to combat climate change.

The U.S. presidential election is coming up in November.

China accuses Biden of tariffs hike on electric cars

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Man strapped with explosive found in a Nigerian Bank in Plateau

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Man strapped with explosive found in a Nigerian Bank in Plateau

Man strapped with explosive found in a Nigerian Bank in Plateau

By: Zagazola Makama 

A middle aged  man is reportedly found in a Nigerian Bank in Dadin Kowa town in Jos South in Plateau state with belts packed with what appeared to be a Person Borne Improvised Explosive Device(SPBIED).

It was gathered that he was apprehended  on May 13, 2024, when the suspect was found with an apparent bomb strapped to his body to detonate at the Bank. 

Intelligence sources told Zagazola Makama, a Counter Insurgency Expert and Security Analyst in the Lake Chad region that the vigilante Security at the bank prevented the  attack after they spotted the suspects. 

They immediately apprehended him before he could achieve his aim. The suspect was later surrounded by an angry mob who demanded that he should be killed immediately. 

It is, however, not clear if the suspect is linked with the Islamic State of the West African Province or Boko Haram. He was taken to the Police station where he was undergoing investigation.

Man strapped with explosive found in a Nigerian Bank in Plateau

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Islamic Cleric Adamu Calls for Ban of GMOs in Nigeria

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Islamic Cleric Adamu Calls for Ban of GMOs in Nigeria

Islamic Cleric Adamu Calls for Ban of GMOs in Nigeria

In recent times, the debate surrounding genetically modified organisms (GMOs) has sparked controversy and ethical concerns worldwide. Sheikh Kabiru Adamu, a prominent figure from the al-Hikma Islamic Foundation for Justice, has taken a firm stance against GMOs, calling for their prohibition in Nigeria. Citing religious beliefs and ethical considerations, Sheikh Adamu asserts that GMOs go against the teachings of Islam and the will of Allah.

Quoting from the Quran to support his position, Sheikh Adamu emphasized the importance of preserving nature and adhering to the natural order ordained by Allah. In Surah Ar-Rum, verse 30:41, the Quran states, “Corruption has appeared throughout the land and sea by [reason of] what the hands of people have earned so He may let them taste part of [the consequence of] what they have done that perhaps they will return [to righteousness].” Sheikh Adamu interprets this verse as a warning against tampering with the natural world, as GMOs are seen as a form of corruption that disrupts the balance of nature.

Furthermore, Sheikh Adamu labels GMOs as “Haram” in Islam, meaning forbidden or unlawful. Quoting from Surah Al-Ma’idah, verse 5:90, which states, “O you who have believed, indeed, intoxicants, gambling, [sacrificing on] stone alters [to other than Allah], and divining arrows are but defilement from the work of Satan, so avoid it that you may be successful.” He draws parallels between the prohibition of intoxicants and GMOs, suggesting that both are deemed impure and contrary to the teachings of Islam.

Sheikh Adamu goes on to criticize agencies that advocate for the use of GMOs, accusing them of serving the interests of malevolent forces. Drawing on Quranic teachings regarding the influence of evil, he references Surah Al-Baqarah, verse 2:268: “The devil promises you poverty and orders you to immorality, while Allah promises you forgiveness from Him and bounty. And Allah is all-Encompassing and Knowing.” Sheikh Adamu suggests that the promotion of GMOs by certain entities is a manifestation of the devil’s deception, aimed at harming Muslim communities and undermining their well-being.

Moreover, Sheikh Adamu raised concerns about the alleged intentions behind the development of GMOs, asserting that they are designed to diminish Muslim populations, particularly in the Northern regions of Nigeria. Quoting from Surah Al-Anfal, verse 8:30, “And [remember, O Muhammad], when those who disbelieved plotted against you to restrain you or kill you or evict you [from Makkah]. But they plan, and Allah plans. And Allah is the best of planners.” He warns against the hidden agenda of those promoting GMOs, suggesting that their ultimate goal is to weaken Muslim communities and disrupt the natural order established by Allah.

Sheikh Kabiru Adamu’s call for a ban on GMOs in Nigeria reflects a deeply rooted concern for the ethical implications of tampering with nature and the potential harm posed to Muslim communities. By invoking Quranic verses and teachings, he highlighted the importance of upholding Islamic values and principles in the face of technological advancements that may conflict with religious beliefs.

Islamic Cleric Adamu Calls for Ban of GMOs in Nigeria

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