TradeFada Nigeria Limited, one of the nation’s prominent players in the Cryptocurrency ECOSYSTEM, has set up a platform that provides easy operational steps for cryptocurrency beginners.
The Chief Executive Officer of the Company, Mr. Seun Dania, explained that first, beginners need to buy Bitcoin with fiat and this can be bought with naira or over 30 other global currencies on the TradeFada platform.
He added that users can store their Bitcoin on the exchange’s enterprise-grade wallet, which abides by the highest security standards for protection and reliability.
For further security, users are mandated to use high complexity passwords and enable Multi-Factor Authentication on their accounts.
To guard against ‘phishing’, users are advised to have anti-virus software up-to-date and carry out regular scans.
Dania further explained that TradeFada complies with global KYC best practices and verification is required to trade high volumes on the platform.
On TradeFada, you can trade CRYPTO-TO-CRYPTO on the spot on over 100 trading pairs including Bitcoin, Ethereum, USDT, Dogecoin, PAX, Polkadot, Unobtanium, Ethereum Classic, Litecoin, Ripple, Cardano, AAVE and so much more”, Dania noted.
Cryptocurrency is digital money that can be obtained with fiat currency via exchanges like TradeFada or, in some cases, through a process called “mining.”
Cryptocurrency adoption in Nigeria is at an all-time high and Nigeria is taking the lead in cryptocurrency trading alongside other advanced nations.
P&ID fraud : Court convicts, winds up Marqott Nigeria Limited.
Justice D.U Okorowo of the Federal High Court sitting in Abuja has convicted and wound up Marqott Nigeria Limited, one of the 30 companies associated with the Process and Industrial Development Limited, P & ID, for money laundering.
The company was convicted on Thursday, June 16, 2022, after being found guilty of four-count charges bordering on money laundering preferred against it by the Economic and Financial Crimes Commission, EFCC.
Count one of the charges read: “That you, Marqott Nigeria Limited, being a designated Non-financial Institution; and Giovanni Beccarelli, Valentina Fantoli, and Dimitri Duca, being directors of and signatories to the bank account of Marqott Nigeria Limited, sometime in September 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, failed to comply with the requirements of submitting to the Federal Ministry of Industry, Trade and Investment, a declaration of activities of Marqott Nigeria Limited contrary to Section 16(1) (f) read together with Section 5(1)(a)(ii) of the Money Laundering (Prohibition) Act, 2011(as amended and you thereby committed an offence punishable under section 16(2)(b) of the same Act.”
Count two read: “That you, Marqott Nigeria Limited, being a designated Non-financial Institution; and Giovanni Beccarelli, Valentina Fantoli, and Dimitri Duca, being directors of and signatories to the bank account of Marqott Nigeria Limited, sometime in September 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, failed to develop programs to combat money laundering and other illegal acts, to wit: failure to designate at management level a compliance officer within any strata of Marqott Nigeria Limited, contrary to Section 16(1)(f) read together with Section 9(1)(a) of the Money Laundering (Prohibition) Act, 2011 (as amended) and you thereby committed an offence punishable under Section 16 (2)(b) of the same Act”.
At the point of the first arraignment on February 7, 2022, the defendant pleaded “not guilty” to the charges, setting the stage for a full trial.
In the course of the trial, the EFCC presented many witnesses and tendered many documents as exhibits.
In his judgment, Justice Okorowo found Marqott Nigeria Limited guilty of all the four-count charges and convicted it accordingly. He also ordered that the company be wound up and its entire assets forfeited to the Federal Government of Nigeria.
Marqott was first arraigned on Monday, February 7, 2022, for being an accomplice in the $9.6bn Gas Supply and Processing Agreement between the Ministry of Petroleum Resources and P&ID.
N25.7bn fraud: Appeal Court affirms conviction of ex-Bank PHB MD, Atuche, others
A three-man panel of the Court of Appeal, Lagos Division, on Thursday, June 23, 2022, upheld the conviction of a former Managing Director of the defunct Bank PHB Plc, Francis Atuche, as well as the bank’s former Chief Financial Officer, Ugo Anyanwu.
Atuche and his co-convict, Anyanwu, had approached the appellate court to set aside their conviction by Justice Lateefa Okunnu of the Lagos State High Court sitting in Ikeja, Lagos on June 16, 2021, over a N25.7 billion fraud.
The panel, comprising Justices Sadiq Umar, Adebukola Banjoko and Kayode Bada, while resolving all the issues in the appeal in favour of the Economic and Financial Crimes Commission, (EFCC) except the sentencing, also clarified that Atuche’s jail term was 12 years concurrently, rather than 120 years, handed down by the lower court, if calculated consecutively.
Also, the panel reduced Anyanwu’s jail term from 10 years to eight years and affirmed the discharge and acquittal of Atuche’s wife, Elizabeth.
In an abridged ruling read by Justice Umar, the three-man panel upheld the EFCC’s arguments and unanimously dismissed the appeal.
It would be recalled that, in 2021, Justice Okunnu, while sentencing Atuche and Anyanwu, had upheld the arguments of the prosecution counsel, Kemi Pinheiro, SAN.
Jamoh raises hope on removal of war risk insurance on Nigeria- bound cargo
The Honorable Minister expressed delight at the equipment and assets of NIMASA, stating that it underscores the importance the Federal Government attaches to combating maritime crimes and ensuring zero tolerance for illegal activities on the nation’s territorial waters.
While commending the synergy and collaboration amongst agencies of Government in the maritime sector, the Honorable Minister expressed delight at the fact that Nigeria has witnessed piracy-free waters since 2022.
Accordingly, she said; “for over 28 years, we have been in the press for the wrong reasons, over the piracy issues at the Gulf of Guinea (GoG).
Furthermore, Senator Saraki noted the need to sustain the momentum to ensure Nigeria remains attractive to investors, adding that the Ministry is delighted at the steps NIMASA is taking to address the issue of War Risk Insurance premium on Nigerian Bound Cargoes.
“The most important thing now is that we don’t rest on our oars. The Free Trade Agreement and how it affects Nigeria is our focus.
However, the Director-General of NIMASA, Dr Bashir Jamoh disclosed that the focus of the agency is sustaining the achievements in recent times, adding that the plans are in three categories of short medium and long term.
“Our focus now is to sustain the tempo
“Though Nigeria was removed from the red list of piracy nations on the 3rd of March this year, it is natural that the international community will desire sustainability.
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