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ENDSARS

#EndSARS: Sanwo-Olu gifts families of slain police officers N10 million each

Governor Sanwo-Olu has compensated the families of slain police officers with the sum of N10 million each.

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Lagos orders removal of all unapproved street gates in the state to ease traffic, Sanwo-Olu to stop pension for former governors, deputies, #EndSARS: Judicial Panel of Inquiry and Restitution to include Lekki toll gate incident – Sanwo-Olu, Lagos approves resumption of all classes in public, private schools, Lagos takes major step towards delivery of Fourth Mainland Bridge, Lagos to construct rail line to airport terminal for international passengers, COVID-19: Lagos State to begin curfew on Sunday to disinfect metropolis, Lagos state government discharges 7 more coronavirus patients, Lagos state will reverse to full lockdown, Sanwo-Olu to virtually inaugurate projects as he presents scorecard of first year in office, Lekki regional road: Sanwo-Olu revokes land titles of Elegushi Royal family, Lagos pays N1.3 billion into the RSA of 246 retirees, Lagos State to empower 2.5 million youths in Arts and Crafts

The Executive Governor of Lagos State, Babajide Sanwo-Olu has brought respite to the families of police officers killed during the violence witnessed in the aftermath of the #EndSARS protests.

According to the disclosure on the Twitter page of the Lagos State Government, the families were handed a cheque of N10 million each and the children of the slain officers awarded scholarships by the government.

What they are saying: Commenting on the recent development, a tweet by the Lagos State Government read thus: “Governor @jidesanwoolu handing over a cheque of 10 million naira each to the families of police officers who lost their lives during the unrest that followed the EndSARS protest and awarding scholarship to their children.’’

Why this matters: The recent effort by the Governor is in fulfillment of the promise he had earlier made to compensate affected victims of the post-EndSARS protest which led to the loss of lives and valuable properties both in the state and the country at large.

The compensation will be viewed by serving officers as a motivation, aimed at promoting patriotism, loyalty, commitment and dedication to national service.

What you should know

  • Lagos State Government had earlier set up a N200 million fund for victims of police brutality
  • As a follow-up, Nairametrics had earlier reported that Lagos State Government offered scholarships to children of slain police officers.

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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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.

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Victims of #EndSARS protest receive interest free loans worth N10.5 million, #EndSARS: A day by day timeline of the protest that has brought Nigeria to its knees.

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.

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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.

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School feeding, ICPC, FIRS moves to stop tax evasion with newly launched intelligence system 

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

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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.

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