Lagos State Government, yesterday, revealed that many who acquired agriculture lands in the state often use them for real estate purposes, saying the entire Lekki corridor was zoned for agriculture but was taken over by housing development.
It also said the Lagos food market is worth N9 billion in daily transactions and N5 trillion yearly Commissioner for Agriculture, Abisola Olusanya, disclosed this during the ongoing yearly ministerial media briefing marking the first year of the second term of Governor Babajide Sanwo-Olu.
She said the government is committed to ensuring that land for agriculture is used for the intended purpose; becoming an organised food system and value-chain destination; and achieving its aims and objectives of a five-year Agricultural and Food Systems Roadmap (2021-2025), as well as Food Security Systems Policy Document.
The commissioner said the state was able to regulate prices of goods through food hubs and intervention programmes. According to her, the governor also approved seven additional food hubs.
She disclosed that the state launched the Trader Money initiative for market men and women, embarked on an agric business support initiative, and built farms across Lagos.
Olusanya said through collaboration, the government supported more than 23,986 farmers in the rice, fish and poultry sectors. Also, Special Adviser to the Governor on Agriculture, Oluwarotimi Fashola, said the government, through its rice mill initiative, partnered with different states in Nigeria to sustain the availability of paddy production.
He disclosed that the state’s rice mill currently has access to less than 10 per cent of the capacity it needs. Fashola said the Lagos government is already working with different partners, including sub-nationals, to raise the level of paddy being supplied to the mill. (Guardian)
Nigerian Cryptocurrency stakeholders have urged Binance to reveal the identity of the purported bribe agent who demanded money from the crypto exchange to make their troubles with Nigerian authorities go away.
They stated that revealing the identity of the person will substantiate their claims.
According to CoinTelegraph, Nigerian crypto stakeholders said the bribery allegation from Binance could negatively affect the country’s image if not properly handled.
Rume Ophi, the executive secretary of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) stated that the body language of the Nigerian Securities and Exchange Commission suggested that the regulatory body wants to reach a middle ground with crypto entities in the country thereby allowing Crypto work in the country.
However, the recent allegation by Binance on Nigerian authorities could jeopardize the way forward for the sector in Nigeria.
“If Binance is trying to make this government look bad and, in turn, create a negative ripple effect for crypto in the country, the stakeholders in Nigeria will not allow that.” She said
Ophi emphasized the need for Binance to be specific in its claims about the alleged attempted bribery in order to allow the Nigerian state to properly deal with the issue and save its image from potential international investors in the country.
On May 7, Binance CEO Richard Teng officially commented on the ongoing spat between Nigerian authorities and Binance which led to the detention of Tigran Gambaryan, a Binance executive and former United States Internal Revenue Service agent who previously led Binance’s financial crime compliance team.
Binance CEO added that some individuals met his team recently demanding a bribe to settle their issues with the Nigerian state.
The allegations led to an outburst of reactions by Nigerians who were disappointed and ashamed by the alleged act by Nigerian authorities.
The news however raised some skepticism, Nathaniel Luz, the CEO of Flincap, a crypto exchange liquidity platform, expressed skepticism that any Nigerian official approached Binance for bribes.
However, Luz emphasized that naming specific individuals would help substantiate their claims.
In 2023, the Nigerian SEC declared that Binance wasn’t registered or regulated by the regulatory body thereby making their activities illegal.
Earlier this year the Central Bank of Nigeria’s Governor suspected activities on Binance citing illicit flow of funds on the platform. This led to a spat that saw two Binance executives detained and charged with money laundering and tax evasion.
The court case against Binance and its executives has been adjourned to May 17.
What To Know
- As the suspicions of Binance’s alleged illicit operations in Nigeria intensified, the Nigerian House of Representatives Committee on Financial Crimes called Binance CEO Richard Teng to appear before the committee before March 4. This did not happen.
- After the detention of Tigran Gambaryan and the now escaped Nardeem Anjarwalla, Nairametrics reported the Binance CEO Richard Teng calling the continuous detention of the executives a dangerous precedent capable of scaring away international businesses from the country.
(Nairametrics)
