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Binance Will Face All Due Process On Charges Of Severe Financial Crime – FG

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  • Against the backdrop of continuing interest in the ongoing trial of rogue online platform, Binance, and one of its Chief Executives, who illegally trade in cryptocurrency in Nigeria, the Minister of Information and National Orientation, Mohammed Idris, has said due processes are being applied in all stages of the trial by the laws of the Federal Republic of Nigeria.

    “At all stages, due process has been followed, and prosecutors are confident of their case, based on the facts and evidence gathered. Binance will have every opportunity to defend itself in court against these severe charges of financial crimes against the Federal Republic of Nigeria. The next hearing is on June 20, 2024,” Idris said.

The Minister explained that Binance, the defendant, has received consular access and all due care, following normal diplomatic protocols and the rule of law, adding that the judge in the case has sufficiently posited that bail was denied because of the flight risk, after a co-accused, now the subject of an Interpol warrant, illegally absconded.

It would be recalled that Binance had a turnover in Nigeria of over US$20 billion in 2023 alone, far above the federal budget for health and education, fueling currency speculation and the cost-of-living crisis. In addition, it is not registered in Nigeria and neither has it ever paid any taxes within the Nigerian jurisdiction, having all the while operated without oversight or any of the normal guard rails to flag criminal activity.

Idris said it is important that Binance is prefaced as an entity whose representatives have been variously imprisoned, fined, sanctioned, and banned in North America, Europe, and Asia, in recent years.

“Changpeng Zhao, the billionaire co-founder and former CEO of Binance is currently serving a four-month prison sentence in the United States after being found guilty of money laundering, while Binance has openly accepted its role in facilitating terrorism, corruption, sanctions busting, and in aiding and abetting paedophile gangs.

“Law enforcement agencies believe Binance operations in Nigeria are part of a broader international pattern. It will be for the courts here, as in other jurisdictions, to hold the company and its executives accountable,” Idris said.

Business

Breaking News: Nigerian Youngest Billionaire, B-Lord, Pioneers Electric Taxi Revolution in Nigeria

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In a groundbreaking move for Nigeria’s transport and energy sectors, Nigeria’s youngest billionaire and business mogul, B-Lord, has launched an electric car taxi service, marking a significant step toward sustainable mobility in the country. The initiative is set to commence operations in Anambra State.

In an exclusive statement, B-Lord disclosed that over five containers filled with fully electric city cars are currently en route to Nigeria from China. The vehicles are expected to revolutionize public transport by providing an eco-friendly, cost-efficient, and modern alternative for commuters.

To support this venture, several charging station terminals are already under construction across Anambra State. These charging hubs aim to ensure a seamless experience for the upcoming fleet of electric vehicles, setting the foundation for a robust, sustainable infrastructure.

“This initiative is not just about transportation; it’s about boosting economic growth, creating jobs, and setting Nigeria on the global map of innovation and sustainability,” said B-Lord.

The electric taxi project is poised to enhance the state’s economy by generating employment, reducing carbon emissions, and modernizing the transportation sector. Experts believe this move will ripple across other states, driving further investment in green technology in Nigeria.

As Nigeria takes its first steps into the electric vehicle era, B-Lord’s vision is a testament to the power of entrepreneurship and innovation in shaping a better future for the nation.

Stay tuned for more updates as this transformative project unfolds!

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World Pizza Day: How an Italian food favourite conquered the world

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Pizza Margherita © Liz Hafalia/San Francisco Chronicle
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17 January marks World Pizza Day, a celebration of a dish with more than 2,000 years of history. From Neapolitan and Roman styles to Margherita, diavola, and even potato-topped variations, there are few places left in the world which don’t honour this iconic culinary tradition.

In 2017, UNESCO recognised “the art of Neapolitan pizza makers” as an Intangible Cultural Heritage of Humanity, highlighting its cultural significance on a global scale.

As for the date, it wasn’t chosen randomly: 17 January coincides with the feast of St. Anthony Abbot, the patron saint of fire and related trades, including machinists, blacksmiths, and, fittingly, pizza makers.

Where is pizza eaten the most in the world? And in Europe?

In Italy, four out of ten families are expected to prepare pizza at home in 2025, according to data from Coldiretti-Ixé. Meanwhile, global pizza turnover in 2024 is projected to reach a record €160 billion, with Italy contributing €15 billion to this figure.

Pizza is a major economic driver in Italy, generating 100,000 jobs nationwide – a number that doubles to 200,000 on weekends. Each year, Italy produces 2.7 billion pizzas, equating to about 46 pizzas per person annually, a figure that includes all age groups, from infants to the elderly.

Italians’ preferences differ significantly from those of the global market. According to Coldiretti, Italians prioritize higher-quality ingredients and are willing to pay a premium for them.

Interestingly, while pizza is an Italian staple, the world’s largest per capita consumers are Americans, who eat an average of 13 kilograms of pizza per year.

In Europe, on the other hand, Italy is in first place with 7.8 kilos per year, followed by Spain’s 4.3kg, and France and Germany’s 4.2kg and in fifth position the United Kingdom with 4kg.

The rise of food delivery has significantly boosted this already thriving sector: some apps speak of ‘an order every two seconds’. Others point to year-on-year growth in turnover of 20 per cent between 2024 and 2025.

The most and least popular pizzas in the world

According to data from the food web portal TasteAtlas, the Margherita reigns as the most popular pizza in the world, followed by the Montanara and calzones. In sixth place is American-style pizza topped with cheese, vegetables, and tomato sauce. Following that is pepperoni pizza (where ‘pepperoni’ in the US refers to a type of salami) and the iconic ‘New York-style’ pizza, before circling back to fried pizza.

In last place is an Italian pizza: the ‘Mimosa pizza,’ topped with corn and cooked ham. Just above it are the Cuban pizza, the Scottish fried pizza, the Quad City-style pizza (a grilled variation popular in the US), and Canada’s unique pizza-ghetti, which features spaghetti as an additional topping.

How much does pizza cost in Italy?

Pizza has always been a popular dish in the Bel Paese, and this has never changed. On the other hand, inflation and the push for higher quality ingredients have increased the price in Italy and across Europe.

A survey by Altroconsumo calculated the average cost of a pizza, a soft drink, and service in various Italian cities. Sassari tops the list as the most expensive city (€14.67), followed by Bolzano, Milan, and Venice. On the more affordable end are Livorno (€8.67), Pescara (€9.18), Naples (€9.63), and Bari (€9.63).

Whatever pizza you love, with or without pineapple, happy World Pizza day.

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Petrol price increases nationwide

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Petrol prices across Nigeria have increased to between N1,050 and N1,150 per litre.

This increase follows a price adjustment by Dangote Refinery, which raised its rates from N899 to N955 per litre for bulk purchases.

Private depots nationwide have also raised their prices, with some locations now charging over N1,000 per litre for Premium Motor Spirit (PMS).

Oil marketers explained that the hike is primarily due to rising crude oil prices, which recently climbed to $81.84 per barrel, the highest in 2025.

Deregulation of the petroleum sector and logistics costs have further contributed to the price surge.

Areas far from depots, such as the hinterlands, are experiencing the steepest prices, with some regions reporting costs of up to N1,150 per litre.

Private depots in Lagos and Calabar have also adjusted their loading costs.

For instance, Sahara and Pinnacle depots raised prices to N970 per litre, while Rainoil and Alkanes in Calabar now charge N1,000 per litre.

Retail stations are adding logistics and regulatory charges to their prices, pushing the pump rates higher for consumers.

Marketers predict that prices will continue to rise due to the global increase in crude oil costs.

With deregulation in place, the industry relies on demand and supply dynamics, making fluctuations inevitable.

Experts warn that this trend will significantly impact consumers and businesses across the country.

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