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April 22, 2024 Kenyan Police Reportedly Arrest Binance Executive Who Fled From Nigeria
IFMNEWS

Kenyan Police Reportedly Arrest Binance Executive Who Fled From Nigeria

Kenyan police have reportedly apprehended Nadeem Anjarwalla, an executive from cryptocurrency platform Binance, who had fled Nigeria several weeks ago. Anjarwalla had evaded custody in Nigeria amidst the government's crackdown on the cryptocurrency platform, aimed at bolstering the naira.

Following his escape, Nigerian authorities tracked Anjarwalla to Kenya, where he is now reportedly in the custody of local law enforcement. Multiple sources from the Kenyan government have confirmed his detention.

Efforts to extradite Anjarwalla have been underway, with the Economic and Financial Crimes Commission (EFCC), the International Criminal Police Organization, the Nigeria Police Force (NPF), and the Kenyan Police Service engaged in discussions since his escape.

In March, the EFCC announced plans to extradite Anjarwalla, citing allegations of tax evasion, currency speculation, and money laundering amounting to $35,400,000. Anjarwalla, along with Binance Holdings Limited and Tigran Gambaryan, faced charges from the EFCC.

READ ALSO: Federal Government Contacts Interpol To Rearrest Binance Executive Who Escaped From Custody

Anjarwalla, a British and Kenyan citizen who serves as Binance's Africa Regional Manager, was undergoing trial in Nigerian courts before his escape. He absconded while under a 14-day remand order and was due to appear in court on April 4, 2024.

The Nigerian government has intensified its crackdown on Binance in recent months, with Anjarwalla being among the cryptocurrency executives arrested. The Central Bank of Nigeria (CBN) claimed that over $26 billion had been funneled through Binance without proper documentation.

CBN Governor Yemi Cardoso expressed concern over the significant financial transactions passing through Binance without proper oversight.

April 22, 2024 Rainstorm Throws 40 Ogun Communities Into Darkness
IFMNEWS

Rainstorm Throws 40 Ogun Communities Into Darkness

A rainstorm on Sunday has left forty communities in Ogun State without electricity. The heavy downpour, which commenced around midday, caused damage to electricity infrastructure in various parts of the state, resulting in power outages.

The Ibadan Electricity Distribution Company (IBEDC) issued a statement late Sunday, attributing the power disruption to broken poles caused by the rainstorm in Ota and Mowe. Affected communities include lyana lyesi, Osuke Town, Egan Road, lyana Ilogbo, Ijaba, Ijagba, Itele, Lafenwa, Singer, Joju, Alishiba, Oju Ore, Tollgate, Eledi, Akeja, Abebi, Osi Round About, Ota Town, Ota Industrial Estate, Igberen, lju, Atan, Onipanu, Obasanjo, Lusada, Arigba, Odugbe, Ado-Odo, Igbesa, Owode, Olokuta, Hanushi, Bamtish Camp Lufiwape, Eltees Farm, August Engineering, Spark Cear Soap Ayetoro, Amazing Grace Oil, Christopher University, Royal Garden Estate, Pentagon Estate, and surrounding areas.

Residents were advised by IBEDC to avoid contact with damaged electrical installations such as broken poles and sagging wires. The company assured that its technical team is actively working to repair and replace the affected infrastructure to restore power supply promptly.

A circulating video on social media depicted fallen electricity poles on vehicles in the flooded Sango-Ota area of the state.

April 22, 2024 Cardoso Vows To Strive For Stable Foreign Exchange Rate Despite Expected Fluctuations
IFMNEWS

Cardoso Vows To Strive For Stable Foreign Exchange Rate Despite Expected Fluctuations

Yemi Cardoso, the Governor of the Central Bank of Nigeria, acknowledged that achieving stability in the foreign exchange (FX) rate is a gradual process and cannot be accomplished overnight. He emphasized that fluctuations in the market will persist, but reassured Nigerians that the CBN is committed to fostering a stable exchange rate.

Speaking at a joint briefing during the recently concluded World Bank/IMF Spring Meetings in Washington, DC, Cardoso highlighted the ongoing efforts to stabilize the exchange rate. He acknowledged recent fluctuations in the value of the naira but underscored the importance of striving for stability and appropriate price discovery.

Cardoso disclosed the CBN's objective to double current diaspora remittance flows, despite recognizing the ambitious nature of this goal. However, he expressed confidence in Nigeria's capability to achieve it.

Regarding foreign portfolio investors (FPI), Cardoso noted positive feedback and engagement with them. He emphasized the importance of ongoing dialogue and updates on reforms to maintain investor confidence. Additionally, he anticipated further improvements in sentiment based on recent positive reactions from investors.

April 22, 2024 Gunmen Attack Event Venue in Ogun State, Shoot Babcock University Lecturer and Abduct Two
IFMNEWS

Gunmen Attack Event Venue in Ogun State, Shoot Babcock University Lecturer and Abduct Two

Approximately eight individuals, clad in black attire, reportedly stormed the Ajadeh Event Centre in Iperu Remo along Sagamu road, resulting in the tragic killing of Babcock University lecturer Yinka Olowojobi. Additionally, two others were abducted during the violent incursion.

The incident, as disclosed by Omolola Odutola, spokesperson for the Ogun State Police Command, occurred on Friday, April 19, around 9:20 pm. Allegedly, the gunmen fatally shot Olowojobi in the chest when he resisted their demands.

Olowojobi, along with another individual identified as Dare, and a third person yet to be named, were reportedly unwinding in the lounge area of the event centre when the assailants struck.

In response to the incident, the police have apprehended a suspect named Awada Ishaya from Plateau State, who had recently been employed as a security guard at the event centre.

The official statement from the police division in Iperu detailed the events, citing eyewitnesses who observed the gunmen, armed and dressed in black, entering the lounge and firing indiscriminately. Olowojobi's resistance allegedly led to his fatal shooting, while Dare and the unidentified third individual were also affected by the attack.

Following the shooting, Olowojobi was rushed to Babcock University Teaching Hospital, where he was pronounced dead.

Efforts are currently underway to track down the perpetrators and secure the safe release of the abducted victims. The authorities have assured the public that updates will be provided as the situation progresses.

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