BUA has ordered 1million doses of Covid-19 vaccine

BUA Group has announced it purchased one million doses of Astra Zeneca Covid-19 vaccines to be distributed in Nigeria.

In a tweet on Monday, the group said the vaccines would be delivered next week.

It would be the first set of vaccines to be delivered since the onset of the pandemic.

The one million doses are “fully paid for”, the group added, as part of its corporate social responsibility.

“BUA commits to purchasing 5 million doses through the same arrangement in partnership with CACOVID/Afrexim Bank.”

BUA Group is one of the largest privately-owned conglomerates, with diversified interests in mining, manufacturing, food and agriculture.

In a statement, founder of BUA, Abdul Samad Rabiu, thanked the president of the Afrexim Bank, Benedict Oramah, for making the purchase possible and the Nigerian Central Bank Governor, Godwin Emefiele, for coordinating the process through the CACOVID Private Sector partnership.

“BUA decided to secure these 1million vaccines by paying the full amount for the vaccines today because these vaccines became available only last week through AFREXIM.

“We expect the vaccines to be delivered within the next 14 days and hope priority will be given to our frontline workers who have committed their lives to managing the pandemic.

“In addition to this, BUA is committing to purchase 5 million doses for Nigeria as soon as they become available through this same arrangement,” Rabiu added.

Flood in Tangier factory, Morocco.

More than 24 people have died after heavy rain flooded an illegal underground textile factory in Morocco, authorities say.

A further 10 people were rescued from the workshop, located in the basement of a house in Tangier.

It’s not known how many people were in the building at the time of the flood. Rescue workers are still at the scene and an investigation has been launched.

Morocco has been experiencing heavy rains in recent weeks.

Blocked or poorly maintained drains often worsen flooding in Morocco’s cities.

Videos from Tangier over the past few days show cars completely submerged in water.

Local media reports say water poured into the basement of the building where people were working.

Many of those trapped inside were rescued by a local man who used a rope to bring them to safety, AFP news reports.

One government official said those killed were all aged between 20 and 40.

Morocco’s textile and leather industry is heavily reliant on informal operations including unregulated factories leading to unsafe conditions for workers.

Kidnappers attack funeral convoy in Edo, shoot driver dead

It was horrific on Monday in Edo when kidnappers attacked a Lagos-Enugu funeral convoy and seized the deceased’s younger brother.
The gunmen also fired shots at the convoy, badly damaging the ambulance and killing the driver of the vehicle behind the ambulance.
The incident occurred along the Benin bypass, very close to Ahor, which recently gained notoriety for frequent kidnappings.


Driver of the ambulance with registration number Lagos KRD 782 GO, Mr. Salami Orijiwa, said he and others left Lagos at 6 am to make the journey early to Enugu.
He said: “When I sighted the men on the road, I thought they were policemen because one of them was holding a gun on his right hand while another on the left side held a cutlass.


“Suddenly, I saw another man in front of the vehicle, who pointed a gun at us and shot. I quickly bent down but I lost control, veered into the bush and fell into a ditch. The bullet hit the vehicle behind me and the driver died on the spot.”
The Nation learnt the kidnappers later contacted family of the victim, demanding N5 million ransom.
Edo Police Public Relations Officer (PPRO), Chidi Nwabuzor, a Superintendent of Police (SP), could not be reached for comment as at press time.

Angry villagers set two robbery suspects ablaze for attempted phone theft in Imo community .

Angry villagers have set ablaze two robbery suspects allegedly caught robbing a woman of her Android phone in Akuma Community in Oru East Local Government Area of Imo State.

The incident occurred Sunday evening, February 7, at Afor Akuma Market square, where the woman had gone to buy something.

It was gathered that the three-man gang, who allegedly operated on a motorcycle stopped in front of the woman, pointed a gun at her and ordered her to hand over the Android phone to them. But she refused and instead raised an alarm which alerted villagers.

The villagers, most of who were watching football from a nearby viewing center, mobilized against the robbers and attacked them.

While one of them managed to escape, the other two were caught, beaten to a pulp and taken to the market square where they were set on fire by the mob.

According to the villagers, the suspects were said have operated from Umutanze Community in Orlu Local Government Area and were notorious for robbing a Bet9ja outlets and other business centers in the community of huge sums of money in recent months.

Ten persons burnt beyond recognition along Okigwe-Afikpo highway.

No fewer than 10 persons were feared dead with two others seriously injured in a fatal auto crash that occurred on Ishiagu-Axis of the Okigwe-Afikpo highway.

Mr Jeremiah Aja, an eyewitness told the News Agency of Nigeria (NAN) that the accident occurred when a bus belonging to Abia Line Network coming from Umuahia to Afikpo lost control due to excessive speed, killing almost all the passengers on board.

Aja, who witnessed the incident while working on his farm narrated that the bus was moving at an excessive speed and could not negotiate bend.He said:

“The driver could not negotiate a bend due to high speed and he lost control and somersaulted multiple times inside the bush, we were able to rescue two persons before the bus caught fire and we ran away.”

Chief Onyebuchi Ogbadu, the Ivo Local Government Area chairman, brought water tankers and put out the fire. Also, the police and officials of the Federal Road Safety Corps (FRSC) teams quickly moved the two persons alive to a nearby hospital, where they are now receiving medical treatment.

“More than ten bodies burnt beyond recognition have been evacuated to the mortuary by FRSC officials,” Aja said.

When contacted, Mrs Loveth Odah, Police Public Relations Officer, confirmed the accident but noted that she is yet to be fully briefed on the cause of the accident and number of casualties involved. “We have received information about the fatal accident which happened today along the Ishiagu axis of Okigwe-Afikpo highway but the Divisional Police Officer is currently at the scene of the crash.He will give us a clear picture of the incident but for now, I can’t confirm to you the actual number of casualties or the cause ,” Odah said.

#EndSARS: Another protest looms as #OccupyLekkiTollGate trends on Twitter.

Following the approval to reopen Lekki Tollgate by Judicial Panel of Inquiry set up by the Lagos State government to investigate the October 2020 Lekki shooting incident, many Nigerians have taken to Twitter to protest that those who carried out the alleged shooting of innocent citizens must face the law before Lekk tollgate can be reopened.

The #OccupyLekkiTollGate which is another wave of protest against injustice and government’s silence over the Lekki shootings is scheduled to kick off on 13th February 2021, according to Twitter sources.

The nine-man panel returned the control of the tollgate to the Lekki Concession Company, the operators, on Saturday.

The company, through its counsel, had been praying the panel to allow it to take over the plaza for repair and insurance claims since December 2020.

Over the last four months, an outpouring of support for Nigerian protesters has played out on Twitter, with various hashtags, but predominantly #EndSARS.

14 feared killed, 170 others missing in India after Himalayan glacier bursts

Tragedy struck in India after a chunk of glacier broke off in the Himalayas and unleashed a devastating flash flood which claimed fourteen lives and left one hundred and seventy others missing.

Rescue officials say after a part of a Himalayan glacier broke away; it set off a torrent of water, rock and dust down a mountain valley, rendering many residents around the area homeless.

“A total of 15 people have been rescued and 14 bodies have been recovered from different places so far,” the state government of Uttarakhand, in the country’s north, said on Twitter on Monday.

Sunday’s violent surge swept away a small hydroelectric project called Rishiganga and damaged a bigger one further downstream. “There was a cloud of dust as the water went by. The ground shook like an earthquake,” said a resident Om Agarwal.

Reports say rescue officials who resumed early on Monday are having a tough time searching for possible survivors at the site as hundreds of military personnel were also deployed.

“There are a lot of questions being asked about why hydroelectric power plants were being built in such ecologically sensitive areas,” Al Jazeera’s Elizabeth Puranam said.

Australian journalist arrested Spying on China

Australian journalist Cheng Lei, after months of detention in China, has been formally arrested on charges of supplying state secrets overseas.

Prior to her detention, the Chinese-born Australian had been a TV presenter for Chinese state media outlet CGTN.

Chinese authorities confirmed her arrest on Monday, adding that her legal rights would be guaranteed.

Ms Cheng was detained in August and charged last Friday, Australian officials had earlier said.

At a press briefing on Monday, Chinese ministry spokesman Wang Wenbin said he hoped Australia would “not interfere with China’s handling of this case”, according to news agency Reuters.

Canberra has repeatedly raised concerns with Beijing over Ms Cheng’s detention.

“We expect basic standards of justice, procedural fairness and humane treatment to be met, in accordance with international norms,” said Australia’s foreign affairs minister, Marise Payne.

“Our thoughts are with Ms Cheng and her family during this difficult period.”

Ms Cheng had worked in Beijing for the last few years. Many of her family, including her two young children, live in Australia.

In August, she suddenly disappeared from television and couldn’t be contacted by friends or relatives. Her employer, CGTN – the English-language channel of the state broadcaster – also wiped its websites of Ms Cheng’s profile page and work.

China eventually announced she was being held on national security grounds under “residential surveillance” in an unknown location.

Her family said they had no idea why she had been detained.

“I don’t think she would have done anything to harm national security in any way intentionally,” her niece Louisa Wen told the Australian Broadcasting Corporation.

“We don’t know if she’s just been caught up in something that she herself didn’t realise.”

Her family said Ms Cheng had been interrogated on several occasions and was being kept in a cell. Her health had deteriorated, they added.

Australia said its representatives had been able to visit her once a month – in line with the bilateral consular agreement with China.

Relations between Australia and China have deteriorated in recent years, leading to diplomatic and trade ructions.

Analysts say this has made it harder for Australian authorities to negotiate with Beijing over their citizens’ release.

Beijing has arrested or expelled a number of journalists in recent times. Shortly after Ms Cheng’s arrest last year, the last two Australian media correspondents in China fled the country following consular advice.

ABC reporter Bill Birtles said that prior to his departure, Chinese police had turned up to his apartment and questioned him about Ms Cheng, but also asked him questions on a wide range of topics.

Former Heavyweight Champion dies @67

Former world heavyweight champion Leon Spinks has died aged 67.

The American achieved a famous upset win over Muhammad Ali in 1978, in just his eighth professional fight.

He had suffered with health issues in his later years and was diagnosed with advanced stage prostate cancer in 2019.

“His final fight was fought with the same skill, grace and grit that had carried him through so many lifetime challenges,” said a statement from his management company.

The former US marine died on Friday evening in Henderson, Nevada, with his wife Brenda Glur Spinks by his side.

“Leon fought his battle with numerous illnesses resiliently, never losing his trademark smile. Showing true Spinks determination, he never threw in the towel,” the statement added.

Born in St Louis, Spinks won gold at the 1976 Olympics in Montreal, then rose to greater prominence a little more than 18 months later, given the nod via a split decision to stun Ali and claim the WBC, WBA and lineal heavyweight titles.

In one of the biggest upsets in the history of the sport, Spinks defied his 10-1 underdog odds with bookmakers to prevail after 15 rounds, winning 145-140 and 144-141 on two scorecards while a third went 143-142 in favour of Ali.

His reign as world champion lasted exactly seven months as a sharper and fitter Ali gained revenge in a rematch in September 1978, becoming the first three-time lineal heavyweight champion after a comfortable points win.

Spinks did get another opportunity for heavyweight glory in June 1981, but was stopped inside three rounds by Larry Holmes.

Spinks then dropped down to cruiserweight but was defeated by WBA champion Dwight Muhammad Qawi in 1986. He boxed on for another nine years and finished with a record of 26 wins, 17 defeats and three draws.

Known for his gap-toothed grin, Spinks’ battles in the ring contributed to his ill health in later life. It was found he had shrinkage in the brain in 2012 before his cancer diagnosis was confirmed a few years later.

His son Cory, 42, is a former undisputed welterweight champion who also won a world title in the light-middleweight division.

Spinks’ younger brother Michael, 64, was undisputed light-heavyweight champion for a period in the 1980s, before moving up to heavyweight, where he won the IBF title and avenged Leon’s loss to Holmes.

Spinks celebrated his 65th birthday in 2018

Israel invents inhaler to cure covid-19

Vaccines are claimed to be the biggest hope in getting out of the coronavirus pandemic and returning to normality. However, they may not be the only solution, or even the best one.

In Israel, professor Nadri Aber has invented a miracle inhaler which can cure COVID-19 in just five days.

His inhaler has an efficacy of 96 percent, with 29 of the 30 patients who trialled it at the Tel Aviv Sourasky Medical Centre recovering rapidly from the virus and leaving the hospital between three and five days. Only one inhalation was enough to fight off the virus, even with more serious cases.

Nadir himself described it as an “unprecedented invention” after seeing the results.

“It is an innovative device based on exosomes enriched in CD24 that can be inhaled directly into the lungs “, said Nadir.

The device now only needs to be approved by national and international health authorities in order to be used amongst the general public.

Israel isn’t the only place where alternatives to vaccines are being studied. In the Gregorio Maranon hospital in Madrid, tests are being carried out with a treatment for serious cases which involves an intravenous injection of enriched immunoglobulin. Early results have been promising with the first two patients to receive the treatment having been released from hospital.

We are engaging China for Covid-19 vaccine– Minister of Foreign Affairs

The Minister of Foreign Affairs, Geoffrey Onyeama, says Nigeria is making efforts to get the coronavirus vaccines from China.

Onyeama disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja.

He said hopefully by the end of February, Nigeria will get vaccines from China, one of its strategic partners, and from other countries.

“What we are engaging with China is in the area of vaccines for COVID-19, so we are also looking to import, to acquire significant vaccines from China and other partners too. I think in the short immediate time that is an area we will need China,” he said.

“They have cooperated with us with regards topersonal protective equipment and other things in our COVID response.

“So we are now at the stage of the vaccine and we are hoping that we can get some support from them in that area.

“There are different ways we are expecting to get the vaccines. There is the bilateral way as a country that we are negotiating.

“Then we have the framework of the African Union collectively as a continent, they are also engagements to receive vaccine.

“The African Union has made some headway, more than 400 million as what has been agreed to. So we were hoping that at the end of January we would have started receiving the vaccines.

“But I think almost certainly by the middle of February we should have started receiving,” Onyeama said.

The News Agency of Nigeria (NAN) reports that in January when the Chinese Foreign Minister Wang Yi visited Nigeria, the Federal Government opened discussions with China to have access to its COVID-19 vaccines.

Nigerians have, however, been expectant of vaccines, especially as the cases of COVID-19 in the country continues to surge.

Nigeria’s fight against COVID-19 suffered a setback when the World Health Organisation (WHO) disqualified the country from getting vaccines.

Nigerians should be prepared for the afterlife– Obasanjo

Former President Olusegun Obasanjo has said developments and happenings in the country show that people are not preparing for the Kingdom of God. Obasanjo,…

Former President Olusegun Obasanjo has said developments and happenings in the country show that people are not preparing for the Kingdom of God.

Obasanjo, who was the Guest of Honour during the dedication of the St. Moses Orimolade Holy Land, the Cenotaph of C&S Founder, on Saturday, said most people are acting as if everything starts and ends on Earth.

“The situation we have in the country today does not show we are preparing for the kingdom of God but we have to be prepared.”

“There is always a day of reckoning. Christianity was brought to us and many of our people made great contributions and they are unsung heroes now. Missionaries came but we have our own missionaries and leaders and Moses Orimolade was one of them.

“It is because of the church that you and I have the assurance of salvation. Our own church leaders who paid their own prize also helped in spreading the gospel and we pray their efforts are not in vain,” he said.

On a comment that it was his intervention that prevented the tomb of Orimolade from being removed during a road construction, the former president said there is no reason the nation’s heroes should not be celebrated or acknowledged.

“When I was told the road work would affect the tomb of Baba Orimolade and even the church set up there in his memory, I agreed that the road is bent to accommodate the preservation of the tomb and the church.

“If I had insisted that the road should not be bent or the contractor insisted and I agreed, the body of Orimolade would have been exhumed and the church may not be here.”

“The action I took in the past, I don’t know it would result in what we are witnessing today and this edifice we are dedicating being here,” he said.

Biden says Trump should not get US Intel briefings due to ‘erratic conduct’

The newly elected President of the United States of America, Joe Biden said in a US media interview of Friday that Donald Trump should not continue to receive intelligence briefings normally available to former presidents because of his “erratic” behaviour.

“I just think that there is no need for him to have intelligence,” President Biden said in an interview with CBS Evening News yesterday.

“What value is giving him an intelligence briefing? What impact does he have at all other than the fact he might slip and say something,” Biden added.

Speaking further during the interview, Biden said Trump was “unfit” to be president and cited Trump’s “erratic behaviour unrelated to the insurrection”, a reference to the January 6 attack on the US Capitol by Trump political supporters.

Asked by the interviewer whether Trump should continue to receive top-level US intelligence, Biden said, “I think not.”

Republican Party belongs to Trump – Rep. Marjorie Taylor Greene

Rep. Marjorie Taylor Greene fiercely defended former President Trump during a press conference on Friday, arguing that the Republican Party “belongs to him.” 

The comments from Greene – whom Congress voted to remove from her committee assignments on Thursday for past inflammatory remarks – come as the party finds itself mired in conflict over the direction it should take in the post-Trump era.

Greene on Friday argued Trump remains popular with Republican voters.

“He was a president that wanted every single person to achieve and that’s why we supported him, that’s why I’ve always supported him,” she told reporters, adding that “the party is his and doesn’t belong to anybody else.”

A recent Morning Consult poll shows 50 percent of Republican voters feel Trump should play a “major role” in the party, with 81 percent holding a favorable opinion of him.

Greene has come under fire for her remarks made before she was elected to Congress expressing support for executing Speaker Nancy Pelosi (D-Calif.) and perpetuating conspiracy theories that the 9/11 terrorist attacks were a hoax. She also alleged the Parkland and Sandy Hook school shootings were false flags, praised the QAnon conspiracy theory and stated that there were lasers in space controlled by a Jewish family. She later walked back a number of her comments and apologized for some of her remarks.

Yet Greene – who has repeatedly pushed unsubstantiated claims that the election was stolen – asserted that she does not believe she nor Trump bear any responsibility for the insurrection at the Capitol that led to five deaths, including Capitol Police Officer Brian Sicknick.

“This impeachment trial that will happen next week is a circus. It is a circus that allows the media companies to get lots of clicks, lots of views and sell ad dollars. You know what? That’s pretty disgusting too,” she continued. 

“Everyone here knows that he did not cause this attack on the Capitol, nor did I, nor did any Republican, but the responsibility falls squarely on those that invaded the Capitol, the ones that planned it ahead of time, those are the people that should be held accountable.”

Nigerian Man, Two Ugandan Women Arrested For Drug Trafficking In India.

The women, Jascent Nakalungi and Sharifah Namaganda said to be cousins, were intercepted by the Delhi unit of the central probe agency on January 28 after they landed at the Indira Gandhi International Airport in India.

A Nigerian man, identified as Kingsley, and two women from Uganda have been arrested with nine kilograms of narcotics in India. The country’s  Narcotics Control Bureau (NCB) busted the smuggling network, according to a report by Outlook.

The women, Jascent Nakalungi and Sharifah Namaganda said to be cousins, were intercepted by the Delhi unit of the central probe agency on January 28 after they landed at the Indira Gandhi International Airport in India. 

According to the NCB, the two women had a medical visa for the treatment of Namaganda.

The duo was apprehended based on the agency’s inputs following a drugs case detected in December wherein over five kg of heroin was seized and two Indians were arrested.

NCB deputy director (operations) K P S Malhotra said, “A total of 8kg of heroin and one kg of cocaine has been seized from the women. The drugs were hidden in their luggage bags that were handed to them in Uganda.”

Kingsley was also arrested after the women’s leads were followed, Malhotra said.

“The case reflects the standard route employed for trafficking of cocaine, which is manufactured illegally in South American countries.

‘The seizure of heroin from this network points towards the reverse route of heroin trafficking. The intensive measures by border guarding forces, both at the northwest frontier and the high seas, have compelled drug traffickers to divert their loads towards Africa’s horn, which is Mozambique.

“Heroin concealed in various shipments then reaches other parts of Africa, where the organised syndicates arrange the carriers.

“Subsequently, human couriers transport the drugs to India by adopting various ways like hiding the narcotics in the body cavity and by concealing in baggage among other methods, ” Malhotra noted.

Two Venezuelan officials bag five-year jail terms each for giving US oil data

Two Venezuelan officials from the state oil company PDVSA have both been sentenced each to a five-year jail term on charges of providing the US with “strategic and sensitive” details of its sanctions-hit oil operations, prosecutors said Friday.

Alfredo Chirinos, the company’s special operations chief, and Aryenis Torrealba, PDVSA’s general manager of crude operations, were arrested last year.

They “were sentenced to five years in prison for the crime of disclosing, reserving or supplying information,” said a statement signed by the attorney general, Tarek William Saab.

The court relied on witness testimony and “documentary” evidence before sentencing the two Venezuelan officials to jail.

According to the ruling, both former executives handled information on fuel oil inventories and the “refining system, as well as the routes of ships that traded with PDVSA.”

“These officials leaked sensitive and confidential information from the oil industry, which resulted in the imposition of sanctions by the US government, which have caused significant financial damage to the industry by limiting the marketing of its products internationally,” the text said.

Trump will have no access to intelligence briefing– Biden

President Joe Biden has said his predecessor Donald Trump should not be given access to intelligence briefings because of his “erratic behaviour”.

The US has a tradition of allowing former presidents to be briefed on the nation’s security issues – as a courtesy extended by the incumbent.

But when asked by CBS News if Mr Trump would receive the same courtesy, President Biden said “I think not”.

He cited Mr Trump’s “erratic behaviour” as his reason for refusing access.

The president declined to speculate on what his worst fears would be if Mr Trump were allowed to see classified reports, but he hinted that the former president could not be trusted to keep confidential information to himself.

“I don’t think there’s any need for him to have an intelligence briefing,” Mr Biden said in his first sit-down interview since becoming president.

“What value is giving him an intelligence briefing? What value is there at all, other than that he might slip and say something?”

Mr Trump feuded with the intelligence community throughout his four-year presidency and went through six national intelligence directors.

He questioned reports by US agencies that Russia interfered in the 2016 election, and assailed intelligence chiefs for being “extremely passive and naive” over Iran.

In 2017, he disclosed highly-classified information to Russia’s foreign minister about an Islamic State operation in what was seen as a breach of trust by many in the US intelligence community.

During his CBS interview, President Biden was asked about the impeachment trial Mr Trump is facing in the US Senate for his role in the riot at the Capitol on 6 January.

Mr Biden said he “ran like hell to defeat” Mr Trump in the election “because I thought he was unfit to be president”, but he would leave the Senate to decide whether the Republican should be barred from ever holding public office again.

WTO LEADERSHIP: BIDEN IN “STRONG SUPPORT” OF NGOZI OKONJO IWEALA

The Biden administration has ended the deadlock over the next head of the World Trade Organization (WTO) by expressing its “strong support” for Nigeria’s ex-finance minister.

Ngozi Okonjo-Iweala was frontrunner for the role until the Trump administration last October said it wanted another woman, South Korea’s Yoo Myung-hee.

Ms Yoo has now withdrawn her candidacy.

If confirmed in the role, Dr Okonjo-Iweala would be the first woman and the first African to lead the WTO.

Dr Okonjo-Iweala on Friday praised her rival for the post and said: “There is vital work ahead to do together.”

A WTO nominations committee in October recommended its 164 members appoint Dr Okonjo-Iweala as a replacement to outgoing chief Roberto Azevedo; a spokesman at the time said all had approved the appointment “except for one”.

President Donald Trump – who had described the WTO as “horrible” and biased towards China – wanted Ms Yoo, South Korea’s trade minister.

Ms Yoo on Friday said her decision to withdraw her candidacy was made in “close consultation” with the US. She said: “South Korea will actively contribute to reaching consensus for the next WTO chief and co-operate with her and participate in the WTO reform process.”

The White House congratulated Ms Yoo on her “strong campaign” for the position and for being a “traiblazer” as South Korea’s first female trade minister.

In a statement, it said the “US stands ready to engage in the next phase of the WTO process for reaching a consensus decision on the WTO Director General”.

Igboho’s funding cannot be stopped- Igboho’s lawyer

Closing Cryptocurrency Accounts Can’t Stop Sunday Igboho’s Funding – Lawyer

Legal practitioner, Tommy Ojoge-Daniel, has said the recent warning issued by the Central Bank of Nigeria to financial institutions and others against doing businesses in crypto and other digital assets, cannot stop the fundraiser set up for Yoruba activist, Sunday Adeyemo (Igboho).

Ojoge-Daniel, disclosed this in an interview with the PUNCH on Friday shortly after the CBN issued its directive.

Supporters of Igboho had set up a Gofundme page for the purpose of raising £100,000 (N51.8 million) for him to buy buses.

The fundraiser, which was initiated by Maureen Badejo, a blogger and activist based in the United Kingdom, had garnered £26, 452 (N13.8 million) as of the time of filing this report.

It was gathered that crypto currency was one of the major ways through which funds sourced through crowd funding are accessed.

On Friday, the CBN directed banks in the country to close all cryptocurrency-related accounts.

In a statement on Friday, the regulator prohibited all financial institutions from facilitating cryptocurrency payments in the country.

This directive was contained in a letter addressed to all Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs)and other financial institutions (OFIs).

Ojoge-Daniel said, “It (CBN policy) does not affect it (Igboho’s funding) in any way in as much as crypto currency is an open source platform for peer to peer (P2P) exchange of value and it is largely untraceable.

“The open ledger (block chain) only tracks activities in wallets and cannot hinder or hamper individuals who have crypto in their wallets from sending it to the recipient wallet. They can only track the payments but can never track the payers. The only issue will be exchanging the crypto on a direct platform to a Nigerian account.”

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