News
EFCC to Arraign Binance Executives on Thursday

Fedewal government through the Economic and Financial Crimes Commission (EFCC) will, on Thursday, arraign Tigran Gambaryan and Nadeem Anjarwalla, two top officials of Binance Holdings Ltd on five counts of money laundering charge.

Nadeem Anjarwalla“at large”
Gambaryan and Anjarwalla, who escaped from lawful custody on March 22 and fled Nigeria, will be arraigned before Justice Emeka Nwite of a Federal High Court (FHC), Abuja.
Although the crypto exchange firm, Gambaryan and Anjarwalla are listed as 1st to 3rd defendants respectively, Anjarwalla, who is described to be “at large” by the EFCC in the counts, is expected to be arraigned in absentia.
In the charge dated and filed on March 28 by the anti-graft agency, the trio is being accused of money laundering to the tune of $35,400,000.
Count one accused the defendants between January 2023 and January 2024 in Abuja of carrying on specialised business of other financial institution without valid licence.
The offence is said to be contrary to Section 57(1) and (2) of the Banks and Other Financial, Institutions Act, 2020 and punishable under Section 57(5) of the same Act.
Also reported the Federal Inland Revenue Service (FIRS) will, on April 4, arraigned Binance Holdings Limited, Gambaryan and fleeing Anjarwalla, on allegations bordering on tax evasion.
In the charge marked FHC/ABJ/CR/115/2024, the three defendants will equally be arraigned before Justice Nwite on four counts.
Though the FHC’s Easter vacation, which began on March 22, will come to an end on April 8, the Chief Judge of FHC, Justice John Tsoho, directed the transfer of Binance case file to Justice Nwite, even though he is not a vacation judge.
The chief judge granted the fiat for the judge to handle the case during vacation being a matter that concerns dire national interest.
In the charge dated and filed March 22 by the FIRS, the defendants were alleged to have committed the offence on or about Feb. 1.
Count one alleged that while involved in carrying and offering services to subscribers on their platform, known as Binance, failed to register with the FIRS, for the purpose of paying all relevant taxes administered by the service.
The offences are said to be punishable under Sections 8 and 29 of the VAT Act of 1993 (as Amended), Section 40 of the FIRS Establishment Act, 2007 (as amended) and under provisions of Section 94 of the Companies Income Tax Act (as amended) respectively.
The two cases were fixed for Thursday to allow for accelerated hearing.
On March 18, reported that Justice Nwite ordered Binance Holdings Limited to provide the EFCC with the comprehensive data or information of all persons from Nigeria trading on its platform.
The judge granted the interim order after ruling on the ex-parte motion moved by the EFCC’s lawyer, Ekele Iheanacho.
The interim order was granted to enable the anti-graft agency unravel the alleged money laundering and terrorism financing on Binance platform.
The commission said it uncovered users who had been using the platform for price discovery, confirmation and market manipulation which had caused tremendous distortions in the market, resulting in the Naira losing its values against other currencies.
The EFCC said that from the information afforded to its team of Investigators by Binance showed that the total trading volume from Nigeria in 2023 alone stood at 21.6 billion dollars .
News
LG Launches “Radio Optimism” Campaign to Spread “Life’s Good” Through Music

LG Electronics has launched a new brand campaign, “Radio Optimism,” designed to help strengthen meaningful human connections and spread optimism through shared musical experiences.
This initiative aligns with LG’s brand promise, “Life’s Good,” and addresses the growing challenge of forming genuine relationships in a technology-driven world.
The Radio Optimism campaign seeks to counteract the disconnection often felt in an era dominated by superficial interactions, such as likes and comments on social media. By harnessing the power of music, LG aims to foster deeper bonds among individuals, promoting a more fulfilling life.
“As technology advances, meaningful human connections become increasingly vital to enrich our lives. LG continues its commitment to bringing optimism into customers’ daily lives, staying true to our enduring brand promise of ‘Life’s Good,’” said Kim Hyo-eun, head of LG’s Brand Management Division.
This campaign reinforces LG’s commitment to creating enriching experiences in digital spaces where today’s consumers spend significant time. Building on this mission, LG has continuously engaged with younger audiences through participatory campaigns that bring the Life’s Good philosophy to life.
Last year’s “Optimism your feed” campaign leveraged social algorithms to foster positivity on social media. This new initiative specifically seeks to address the paradoxical disconnection in an era of hyper-connectivity.
“One of the most reliable predictors of happiness is having deep and meaningful relationships,” said Jean M. Twenge, Professor of Psychology at San Diego State University. “Yet today, many people are spending more time online and less time connecting in person. Social media in particular tends to create shallow relationships rather than the deep connections people need.
“It’s common for people to have hundreds of followers but no one to talk to in real life if they need support. We need to build more meaningful connections with those around us. That might turn around the pronounced decline in happiness that’s occurred over the last decade.”
A new global study* from LG on social connection reveals that 68 percent of people find it harder to make real friends, and a third reported having one or fewer meaningful connections in the past month, with 8 percent experiencing none at all.
Inspired by traditional radio’s unique way of connecting people through music and storytelling, the Radio Optimism campaign transforms this concept into an interactive platform where participants can create and send personalized songs to their loved ones.
Users can easily create new songs using AI-powered tools, which are thoroughly trained on a curated music dataset. These tools interpret user prompts to produce unique musical pieces and generate matching album art, providing an engaging and personalized experience. Once generated, these songs can be sent to recipients to deepen their connection and made available for others to discover worldwide.
According to the survey, nearly 9 in 10 respondents believe that meaningful connections lead to a more optimistic outlook on life. By providing a platform for individuals to express their feelings, this campaign aims to foster deeper connections and help individuals enrich their lives while spreading optimism in their own ways.
The campaign website is available in English and Spanish, with plans to support additional languages in the coming months to enable broader participation. The official website can be found at RadioOptimism.lg.com.
News
Nigeria’s Electricity Output Climbs 10.92% in Q1 2025, Boosted by Thermal Plants

Nigeria’s electricity generation rose by 10.92% in the first quarter of 2025, driven by improved operational capacity and better availability of thermal and hydropower plants supplying the national grid.
This is according to the latest report from the Nigerian Electricity Regulatory Commission (NERC) for Q1 2025.
Total energy generated stood at 10,304.47 gigawatt-hours (GWh), up from 9,289.95 GWh recorded in the previous quarter. The increase highlights stronger performance across multiple power plants, supported by improved grid dispatch conditions.
NERC noted that average hourly generation on the grid also grew by 13.39%, rising to 4,770.59 megawatt-hours per hour (MWh/h) from 4,207.41 MWh/h in Q4 2024—an increase of 563.18 MWh/h.
“The hourly generation and the total generation increased by 13.39% and 10.92% respectively in Q1 2025 compared to Q4 2024. This rise is linked to an increase in the cumulative available generation capacity of grid-connected plants,” the report stated.
A total of 19 power plants boosted their output during the quarter, contributing significantly to the overall rise in generation.
Thermal power plants were the main drivers of growth. Out of the 23 thermal plants connected to the grid, 16 recorded higher average hourly output compared to the previous quarter.
Top contributors included Delta_1, which added 157.58 MWh/h, followed by Geregu_2 (71.95 MWh/h), Egbin_1 (68.20 MWh/h), and Afam_2 (68.03 MWh/h).
Hydropower plants also supported the growth, though at a smaller scale. The five grid-connected hydro stations posted a combined increase of 54.93 MWh/h, marking a 4% improvement. Zungeru_1 led with a 23.55% rise, while Shiroro_1 and Kainji_1 grew by 12.21% and 4.80% respectively.
This first-quarter improvement reflects ongoing efforts to stabilize power supply through better plant maintenance, enhanced grid management, and more consistent dispatch across regions.
However, challenges such as fuel supply to plants, equipment reliability, and high operating costs continue to limit the full potential of Nigeria’s power generation capacity.
News
DBI, Miva Open University Partner to Advance Digital Innovation, Education

Digital Bridge Institute (DBI) and Miva Open University, Abuja, have signed a Memorandum of Understanding (MoU) to jointly promote digital technology and academic excellence in computer science and innovation.

Mr. David Daser, president/CEO, DBI, and Professor Tayo Arulogun, vice chancellor, Miva Open University.
DBI, a Federal Government-owned ICT training institute with headquarters in Abuja and campuses across Nigeria’s six geo-political zones, hosted the signing ceremony at its headquarters.
The MoU marks a significant step in formalizing and strengthening the existing relationship between the two institutions.
Signing on behalf of their institutions were
Speaking during the event, Mr. Daser praised Professor Arulogun’s leadership and commitment to academic development, which he said made the partnership possible. He emphasized that unlike many MoUs that remain inactive, this collaboration is set to deliver tangible results.
“We value this partnership and are confident it will meaningfully contribute to Nigeria’s education sector. DBI is fully prepared to implement the agreement and drive an impact across our campuses in Enugu, Abuja, Kano, Lagos, Asaba, and Yola,” Daser said.
He added that the collaboration would strengthen DBI’s National Innovation Diploma (NID) program and other initiatives through shared resources and new opportunities.
Professor Arulogun, in his remarks, highlighted the need for greater collaboration among Nigerian universities, criticizing the prevalent “do-it-alone syndrome.”
“Many institutions prefer to operate in silos, but collaboration is key. Pooling resources and working together will enhance capacity and academic output,” he stated. “With this partnership, we are ready to hit the ground running from student exchange to joint innovation projects like hackathons.”
He noted that hackathons provide platforms for discovering hidden talents and fostering innovation, and Miva is eager to integrate such activities into its academic programs.
Mr. Emeka Nzeih, head of Learning and Development, DBI, outlined the partnership’s key focus areas: student internships, real-world project collaborations, joint research in fields like AI, robotics, and cybersecurity, and shared access to DBI’s ICT labs and equipment for Miva’s students and faculty.
According to Nzeih, the initiative aims to enhance practical learning, foster innovation, and build capacity through collaborative training, research, and mentorship.
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