Connect with us

News

Again, CBN Warns Nigerians On Virtual Currencies

Published

on

The Central Bank of Nigeria has again advised Nigerians to be wary of investments in cryptocurrency, stressing that virtual currencies are not legal tender in Nigeria.

A press release issued by the Bank on Wednesday, February 28, 2018, reiterated that cryptocurrencies such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin, Onecoin, etc and Exchanges such as NairaEx were not licensed or regulated by the CBN.

The statement signed by the Bank’s Acting Director in charge of Corporate Communications, Isaac Okorafor, emphasized that dealers and investors in any kind of crypto currency in Nigeria were not protected by law, thus may beunable to seek legal redress in event of failure of the exchangers or collapse of the business.

The CBN warned Nigerians against investing in cryptocurrency as doing so would be at their own risk.

It will be recalled that the CBN on January 12, 2017, issued a circular to Banks and other financial institutions on virtual currency operations in Nigeria.

In the 2017 circular signed by the Director, Financial Policy and Regulation Department, Kevin Amugo, the CBN had among other issues noted that virtual currencies were traded in exchange platforms that are unregulated, all over the world.

It further noted that transactions in virtual transactions in virtual currencies were largely untraceable and anonymous thereby making them susceptible to abuse by criminals, in money laundering and financing of terrorism.

GrassRoots.ng is on a critical mission; to objectively and honestly represent the voice of ‘grassrooters’ in International, Federal, State and Local Government fora; heralding the achievements of political and other leaders and investors alike, without discrimination. This daily, digital news publication platform serves as the leading source of up-to-date information on how people and events reflect on the global community. The pragmatic articles reflect on the life of the community people, covering news/current affairs, business, technology, culture and fashion, entertainment, sports, State, National and International issues that directly impact the locals.

News

King Charles Reportedly “Really Unwell” And Funeral Plans Are Currently Being Reviewed

Published

on

King Charles III’s health is causing concern for friends and the palace as he continues to battle cancer.

“Speaking to friends of the king in recent weeks about his health, the most common response is … ‘It’s not good,’” Tom Sykes of the Daily Beast reported Thursday, April 25.

A friend of the monarch claimed Charles “is determined to beat it and they are throwing everything at it,” adding, “Everyone is staying optimistic, but he is really very unwell. More than they are letting on.”

Royal writer Tina Brown also hinted at the monarch’s health struggles, writing recently that Charles’ cancer has put Prince William and Kate Middleton “in frightening proximity to ascending the throne just when they had hoped for a span of years to parent their children out of the public eye.”

“The prospect of it, I am told, is causing them intense anxiety.”

Sykes also reported that the king’s funeral plans, codenamed “Operation Menai Bridge”, are currently being reviewed.

A separate document that states what went well at Queen Elizabeth’s September 2022 funeral and what could be done better the next time a monarch dies is also circulating, according to the Daily Beast.

All the sources emphasized that royal funeral plans are constantly in review. However, one former staffer in particular conceded that Charles’ health woes have given his plans a different urgency.

“The plans have been dusted off and are actively being kept up to date,” the former staffer explained.

“It’s no more than what you would expect given the king has been diagnosed with cancer. But the circulation of them has certainly focused minds.”

Buckingham Palace announced in February that after undergoing surgery for a benign prostate enlargement, it was discovered that the king has cancer.

We hope the king gets well soon.

Continue Reading

News

EFCC: New Documents Extracted Shows Yahaya Bello Allegedly Paid School Fees To The Tune Of $845,852,84 For His Family Members

Published

on

Still on the EFCC trailing on Ex Governor of Kogi State, Yahaya Bello, Documents serving as exhibits have shown how he allegedly paid school fees in advance for his family members already in the school and even those to be enrolled in future with hundreds of thousands of dollars withdrawn from the state coffers.

A letter from the American International School of Abuja to the Economic and Financial Crimes Commission (EFCC) has shown the school admitting that Bello, the former governor of Kogi State, paid $845,852,84 into their bank account since September 2021 as advance school fees for 4 family members from the present class until they graduate.

Payment was also made for any future student to be enrolled by the family.

The document alleges that the payment was made by Mr. Ali Bello, alleged to be the eldest son of Yahaya Bello.

In the document, the school stated that they have deducted the fees for the educational service already rendered to the Bello children in the institution and what is left is $760, 910, which would be refunded to an account provided by the EFCC as the commission continues investigation into alleged money laundering levelled against Yahaya Bello.

the school fees documented payment

The school also added that from the Bello family kids, “no further additional fees are expected in respect of tuition until they graduate from ASIA.”

Continue Reading

News

Niger State Prisoners Run From Facility After Rainstorm Brings Down Part Of Fencing

Published

on

Many prisoners serving time at the Suleja Correctional Centre, located in Suleja Local Government of Niger state, fled the facility after a rainstorm brought down a part of the inner fencing.

This incident happened as a result of the heavy rainfall which fell on Wednesday night. This led to a cell being torn down, providing incarcerated individuals with a chance at freedom.

Reporters gathered that security forces fired many shots in the air, attempting to scare the inmates out of hiding.

While the State Comptroller of Prisons declined to speak to the press, it has been noted that security has been beefed up on the Minna-Suleja and Suleja-Kaduna roads, including the Madalla axis to Abuja road, which is a likely escape route out of the state for the inmates.

Continue Reading

Trending