The Senate, after a two-hour session on Wednesday at plenary confirmed the appointment of Mr Abdulrasheed Bawa as Chairman of the Economic and Financial Commission.

Bawa was nominated for the role by the President, Major General Muhammadu Buhari (retd.).

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Speaking during the screening, the new Chairman denied an allegation that he sold the seized property in EFCC custody at its Port Harcourt Zonal office.

He said the seized property in Port Harcourt were properly disposed off by the agency’s officials from its headquarters.

Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has insisted the Bank’s decision to stop deposit money banks, non-banking institutions and other financial institutions from facilitating trading and dealings in cryptocurrency is in the best interest of Nigerians.

Emefiele made the assertion on Tuesday, while briefing a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market, on its directive to institutions under its regulation.

Emefiele also insisted that the operations of cryptocurrencies are dangerous and opaque adding that the use of cryptocurrency contravened an existing law.

He said given the fact that cryptocurrencies were issued by unregulated and unlicensed entities made it contrary to the mandate of the Bank, as enshrined in the CBN Act (2007) declaring the Bank as the issuer of legal tender in Nigeria.

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“Cryptocurrency has no place in our monetary system at this time and cryptocurrency transactions should not be carried out through the Nigerian banking system,” he added.

The Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda at the event clarified that there was no policy contradiction between the CBN directive and that of SEC on cryptocurrency.

Equally, the Independent Corrupt Practices and Other Related Commission (ICPC) and Nigerian Financial Intelligence Unit (NFIU) have supported the decision of the Central Bank of Nigeria to ban cryptocurrency use in Nigeria.

Chairman of ICPC, Bolaji Owasanoye, said the #EndSARS protest was largely financed by cryptocurrency, indicating that it could be used to fund insurgency.

The NFIU boss, Tukur Moddibo also said cryptocurrency failed the critical tests of vulnerability and attendant risks, noting that his agency averted a $3 million fraud linked to 20 bank accounts.

A commercial sex worker, Victoria Chukwube has been apprehended in Ebonyi state while trying to sell her baby.

According to the State Police in Ebonyi, the woman was apprehended for allegedly trying to discard her baby for N40,000 only.

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Odah said, “So her name is Chukwube Victoria, she told us she is a commercial sex hawker and that she has this baby which she is carrying.

The 32-year-old woman said she needed to sell the four-month-old baby boy in order to raise money to start a business of selling drinks.

Ebonyi State Police spokesperson, Loveth Odah said Chukwube was arrested following a tip-off.

“She said if she leaves here she would continue to look out for prospective buyers.

“But we tried to talk to her and to make her see the value of being a mother, but she refused.

“She even told us that if we allow her to go home with the baby she will throw the baby away and that she can’t tell who got her pregnant.”

While Interrogating the lady, she refused to disclose her state of origin or local government but maintained that she does not have the financial capacity to take on the responsibility of caring for the child.
 
Chukwube said, “I am from Nigeria, 32 years old, a commercial sex hawker and my baby is just four months old. “I want to sell the baby at the rate of N40,000 to start up a business. I have a fridge and I reside at Ogbe Hausa in Abakaliki.”