ENDSARS
#EndSARS: States affected by violence should get 1% VAT – Senate
The Nigerian Senate has urged the Federal Government to give states that were affected by lootings and destruction by hoodlums after the anti-police brutality protests, 1% of all Value Added Tax (VAT).
This motion was moved by Senators Abiodun Olujimi and Gershom Bassey on Tuesday and disclosed in a report by Channels TV.
What you should know
After the lootings and destruction by hoodlums who hijacked the #EndSARS protests, Nairametrics reported that the Speaker of the House of Representatives, Femi Gbajabiamila, said Lagos State will need about N1 trillion for the reconstruction and repair of the properties and infrastructure that was vandalized in the process.
The Senators moving the motion declared that destruction caused in Lagos by hoodlums was valued at a range of over N1 trillion by the State Governor, Babajide Sanwo-Olu.
(READ MORE: #EndSARS: Insurance firms can seek refund after indemnifying victims – MD, NICON Insurance)
Senator Gershom Bassey also revealed that hoodlums attacked federal properties in Calabar like the WAEC office and looted food warehouses in the state.
“Cross River State being a predominantly Civil Service State may not overcome the effects of the invasion since the destroyed state infrastructure were built from lean state resources over the years,” Bassey disclosed.
Senator Sani Musa said the lootings which started in Lagos spread to other states, leading to the destruction of properties and urged for the FG’s assistance.
“#EndSARS came as a peaceful protest, but turned violent. It started in Lagos and later spread to other states which led to the destruction of homes, businesses, and government offices. It is very unfortunate. The government needs to rebuild what was destroyed and pay compensation as well. It is their responsibility,” Musa said.
Business News
Lekki Tollgate Shooting: US says security forces shot in the air, no information on fatalities
The U.S Government has said that the Nigerian security forces fired shots into the air to disperse #EndSARS protesters at the Lekki Toll Gate.
The United States Government has said that the Nigerian security forces fired shots into the air to disperse #EndSARS protesters at the Lekki Toll Gate in Lagos on October 20, 2020.
This contradicts allegations from media reports that some eyewitnesses saw soldiers firing live ammunition at the peaceful protesters.
This disclosure is contained in the 2020 Country Reports on Human Rights Practices: Nigeria released by the US Department of State on Tuesday, March 30, 2021.
The report pointed out that there was no accurate information on the number of fatalities from the shootings contrary to Amnesty International’s report that 10 people died during the incident as a result of gunshot wounds.
READ: Lagos State police says no protest happened at Lekki Tollgate, describes viral video as fake
What the report on Human Rights Practices on Nigeria is saying
The report partly reads, “On Oct. 20, members of the security forces enforced curfew by firing shots into the air to disperse protesters, who had gathered at the Lekki Toll Gate in Lagos to protest abusive practices by the Nigerian Police Force’s Special Anti-Robbery Squad (SARS).
Accurate information on fatalities resulting from the shooting was not available at year’s end.
Amnesty International reported 10 persons died during the event, but the government disputed Amnesty’s report, and no other organisation was able to verify the claim.
READ: Lekki shooting: LCC video footage shows soldiers arriving in several trucks
The government reported two deaths connected to the event. One body from the toll gate showed signs of blunt force trauma.
A second body from another location in Lagos State had bullet wounds. The government acknowledged that soldiers armed with live ammunition were present at the Lekki Toll Gate.”
What you should know
- It can be recalled that in the aftermath of the alleged shooting of #EndSARS protesters at the Lekki Tollgate, US-based media outfit, Cable News Network (CNN), in its investigate report, aired a video allegedly showing Nigerian soldiers shooting at unarmed protesters at the tollgate, based on video evidence from mobile phones and witnesses.
- The Federal Government in its response insisted that the military did not shoot at the #EndSARS protesters, describing the alleged mass killings as a massacre without bodies.
- Also, President Muhammadu Buhari, while expressing his disgust at the coverage of the incident by foreign media organisations like CNN and BBC, said that their reports on the EndSARS protests were not balanced.
Business
ICPC Chairman reveals #EndSARS protests was financed with cryptocurrency
ICPC Chairman has revealed to the Nigerian Senate that the #EndSARS protest was largely funded with cryptocurrency.
The Chairman of Independent Corrupt Practices and Other Related Commission (ICPC), Bolaji Owasanoye has revealed to the Nigerian Senate that the #EndSARS protest was largely funded with cryptocurrency.
This is as he said there are strong indications that it could be used to fund Insurgency in the country.
According to a report from Vanguard, this disclosure was made by the ICPC Chairman, during an interactive session with Senate Joint Committee on Banking, ICT, Cybercrime and Capital Market led by Senator Uba Sani on Tuesday, February 23, 2021.
READ: ICPC uncovers N9.8 billion Government money hidden in Aso Savings
The Joint committee was mandated to look at the decision of the Central Bank of Nigeria (CBN) to ban Cryptocurrency in Nigeria.
The ICPC boss while supporting the position of the CBN, said that the nature of operations of Cryptocurrency exposes it to money laundering and terrorism financing.
Meanwhile, the Nigerian Financial Intelligence Unit (NFIU) has said that the agency averted a $3million fraud linked to 20 bank accounts.
READ: ICPC moves against NDDC top management over corruption allegations, quizzes directors
Owasanoye further explained that the anti-graft agency currently has a number of cases linked to Cryptocurrency but is unable to track the suspects.
He brought the attention of the Senate to a period in 2018 when a number of globally rated financial institutions said their financial statements had been hacked with the perpetrators asking to be paid in Cryptocurrencies.
ICPC Chairman noted that the CBN as a regulator has the responsibility to ensure sound financial stability and it will be difficult to achieve in the case of Cryptocurrencies where the players are anonymous.
While sharing the experience of the Indian Supreme Court and how it ruled and admitted that it does not know what it is, he urged the Lawmakers to as a matter of urgency, take decisive action against Cryptocurrencies.
READ: Most powerful financial leader takes side with CBN, says Bitcoin is untrustworthy
What you should know
- It can be recalled that the CBN had directed the financial institutions to immediately close the accounts of such persons or entities transacting in or operating cryptocurrency exchanges, warning of severe regulatory sanctions in the event of any breach of the directive.
- The apex bank warned the Deposit Money Banks, Non-Financial Institutions and other Financial Institutions against doing business in crypto and other digital assets.
- The latest directive is coming after the CBN had in 2018 stated that cryptocurrencies are not legal tender and as such are illegal.
