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FCMB Begins Treating Youths In Crypto As Fraud Suspects

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FCMB

First City Monument Bank (FCMB) has put out an alert on accounts held by people between the ages of 18-30, asking staff to be on the lookout for money launderers and other criminal activities.

An internal email cited by Crystal News titled “Compliance Advisory on Cryptocurrency Dealing/Transactions” is in furtherance of the Central Bank of Nigeria’s ban on the trading of cryptocurrency in the country.

Accounts “with high volume transactions operated by individuals between the age brackets of 18-30 years as signatories,” should be flagged for possible fraudulent activities by staff members, the memo said.

Other account types with similarly discriminatory guidelines include youth savings accounts, business savings accounts, personal business accounts, amongst others. The bank did not define what constitutes a high volume of transactions, but the account types listed captured all of its available packages for Nigerian youths.

The internal email urges staff to monitor the listed accounts for red flags “in order to make the Bank safe and protected from the activities of criminals, organized gangs, money launderers and terrorist financiers.”

FCMB Begins Treating Youths In Crypto As Fraud Suspects

This compliance advisory comes after the CBN ordered all Nigerian commercial banks to freeze the accounts of certain individuals for purportedly trading in cryptocurrency. The Gazette reported that two individuals, Nnamdi Francis Okereke and Nwaorgu Kingsley Chibuzor and a company TVS Hallmark Service Limited had been named in a Post-No-Debit directive issued by the banking industry regulator.

But the FCMB’s memo marked the latest escalation in the enforcement of the CBN’s directive. Section 42 of the Nigerian Constitution prohibits discrimination against citizens under whatever guise. FCMB did not return calls and e-mails seeking comments about the leaked memo to staff members.

It was unclear whether or not other banks have instituted similar controversial policies against young people, but a spokesman for the CBN Osita Nwanisobi said banks were not asked to enforce the ban on cryptocurrencies on the basis of age or other forms of discrimination.

Despite Nigerian youths growing interest in the cryptocurrency space, the CBN had in February ordered all financial institutions to close all accounts used in trading cryptocurrencies and other related transactions, citing security concerns.

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Politics

2023: I Will Not Impose My Successor On Rivers — Wike

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Governor Nyesom Wike of Rivers on Thursday said he would not impose any governorship aspirant of his choice on the people of Rivers come 2023.

Wike gave the assurance in a statement issued by Mr. Kelvin Ebiri, his Special Assistant on Media, in Port Harcourt.

He assured that the leadership of the party would meet to decide who to support at the appropriate time.

Wike however said that he is obliged to ensure that Peoples Democratic Party (PDP) wins the 2023 governorship election in Rivers.

“One mistake I will not make is to impose somebody. From my experience as a student of history, reality has shown that it is difficult for you to say Joseph is the man I can trust.

”Until you give somebody power and money, that is only when you will know whether that person is trustworthy or not,” he said.

Wike stated that God would not allow someone who will destroy all the remarkable progress the state had made over the years to be the next governor.

”God will ensure that it is only someone who is courageous, firm and ready to protect the interest of Rivers that will succeed me.

“Rivers is a state that so many people have an interest in. It is a state that you have to put your feet on the ground. It is a state that you have to annoy a lot of Nigerians and a lot of Nigerians will hate you.

“But what is important is for you to know is what is good for your people and stand for your people. Do not allow personal interest to sway you against the interest of your people,” Wike stated.

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Entertainment

VIDEO: Moment Obi Cubana Met Wizkid Backstage At London Show

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Obinna Iyiegbu popularly known as Obi Cubana, a Nigerian entrepreneur, and businessman who chairs the Obi Cubana group of companies showed up at the O2 Arena in London venue of the talked about, a sold-out concert by Ayodeji Ibrahim Balogun, known as Wizkid.

Cubana like many other notable Nigerians was in attendance to support one of Nigeria’s most successful artists who kicked off the beginning of his O2 arena concert as he treated his 20,000 fans with premium entertainment for three nights in a roll.

On the first night, he had on stage with him other artistes like American Superstar Chris Brown. He also brought hitmaker Tems, Buju with the Golden Voice, British Singer Ella Mai, and British rapper Skepta who all featured in his ‘Made In Lagos’ album, as he performed songs from there.

The Popular socialite and businessman, who had shared a video of himself and Wizkid after his third night show at the O2 Arena, London wrote on his page, “Proud of you #wizkidayo“

Watch Video Below;

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Former Senate President Joseph Wayas Is Dead

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Joseph Wayas

Former Senate President in the Second Republic, Joseph Wayas is dead.

The death of Joseph Wayas, was announced by Governor Ben Ayade’s spokesman, Christian Ita on Thursday.

According to the governor, Joseph Wayas gave up the ghost in the early hours of Tuesday in a London hospital.

Ayade said the late politician has left a lasting legacy that will be remembered for a long time, describing the death of the 80-year-old as a monumental loss to the state and Nigeria.

He, however, condoled with the family of Wayas and said his death is a “collective loss and the pains a shared one”.

The statement reads: “As a state, Cross River is in pains as we mourn the passing of our illustrious son. He was a rare gem. Dr Wayas’ demise is indeed a monumental loss to our dear state and Nigeria,” Ayade was quoted as saying.

“As Senate President, Dr Wayas contributed to the deepening of Nigeria’s democratic ethos through his robust and vibrant leadership of the upper legislative chamber.

“And since his retirement from active politics, the former Senate President had been playing a fatherly and stabilising role in the politics and affairs of our state.”

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