Binance, Others Face Billions of Dollars in Fines By SEC Over Alleged Currency Manipulations Firm’s executives reportedly arrested, detained, passports confiscated Naira gains at both parallel, official windows at N1,500/$1, N1,609/$
James Emejo in Abuja and Nume Ekeghe in Abuja
The Securities and Exchange Com-
mission (SEC) may slam huge fines running into billions of dollars on one of the world’s biggest exchanges, Binance, and other cryptocurrency
firms operating in the country, THISDAY gathered yesterday. SEC, alongside other security operatives is currently probing allega-
tions that the crypto companies had engaged in currency manipulations activities against the Naira without underling transactions, a development
which had contributed to the current FX liquidity crisis in the country. Binance had previously been sanctioned by the US Government
for repeatedly engaging in currency manipulations. Continued on page36
Atedo Peterside Pays Glowing Tributes to Wigwe, Says He Was More Than a Banker... Page 39 Thursday 29 February, 2024 Vol 29. No 10550. Price: N400
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Ex-British Diplomat Says Nigeria on Right Path with Ongoing Economic Reforms... Page 37
Tinubu: Akeredolu’s Death LeavesVacuum Difficult to Fill
Declares he's working hard to ease pains of Nigerians Widow thanks southern governors, says Sanwo-Olu singlehandedly brought back husband’s remains to Nigeria Afenifere seeks true federalism, implementation of 2014 CONFAB Deji Elumoye in Abuja and Fidelis David in Akure
President Bola Tinubu, yesterday, in Owo, Ondo State, said the void left by the departed governor of
the state, Oluwarotimi Akeredolu, SAN, would be difficult to fill. Tinubu stated this when he went to condole
with the family of Akeredolu, who died on December 27, 2023 after a protracted illness.
Accompanied by the incumbent governor, Lucky Aiyedatiwa, Chief Bisi Akande, and Elder Pius
Akinyelure, Tinubu was received by Continued on page 36
NUPRC Eyes $17.67bn Investments in Upstream, 2.12bn Barrels Oil, 13.13tcf Gas Recovery in 5Years Nigeria gets 60% of AfreximBank’s $30bn investment in oil, gas in Africa FG will define its own terms on energy transition, says Lokpobiri NLNG pushes LPG production to 1.5m metric tons NNPC, OPEC pledge collaboration to attract investments Emmanuel Addeh and Peter Uzoho in Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday projected an investment inflow of about $17.67 billion into the upstream petroleum sector with expected cumulative 2.12 billion barrels of oil and 13.13 Trillion Cubic Feet (TCF) of gas production in the next five years. The Chief Executive Officer of the commission, Mr. Gbenga Komolafe announced this during his keynote presentation on the third day of the ongoing 7th Nigerian International Energy Summit (NIES), in Abuja, with the theme: "Navigating the New Energy World Order: Security, Transition, and Finance." He said the expected investments and production growth resulted from 51 Field Development Plans (FDPs) approved between 2022 and 2023. Continued on page 36
Tinubu in ondo...
L-R: President Bola Ahmed Tinubu; Ex Afenifere Leader, Pa Reuben Fasoranti and Ondo State Governor, Mr Lucky Aiyedatiwa during the president's visit to Ondo State.... yesterday