nuhu ribadu – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Sat, 20 Dec 2025 17:49:13 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png nuhu ribadu – Tech | Business | Economy https://techeconomy.ng 32 32  NSA Nuhu Ribadu and the Disingenuous Arming of Miyetti Allah https://techeconomy.ng/nsa-nuhu-ribadu-and-the-disingenuous-arming-of-miyetti-allah/ https://techeconomy.ng/nsa-nuhu-ribadu-and-the-disingenuous-arming-of-miyetti-allah/#respond Sat, 20 Dec 2025 17:49:13 +0000 https://techeconomy.ng/?p=173023 A Dangerous Precedent in Kwara State

The recent defence by the Office of the National Security Adviser concerning armed men arrested in Kwara State, found with automatic rifles, has exposed a troubling drift.

It raises the question of whether governance in Nigeria is being gradually surrendered into the hands of non‑state actors.

Double Standards in Security Architecture

The fact that the NSA, Nuhu Ribadu, is linked to arming the so‑called Fulani Vigilante Group under Miyetti Allah should alarm every Nigerian.

The irony is stark: while Southwest Governors are denied the right to equip Amotekun with automatic rifles, Miyetti Allah operatives are reportedly empowered with such weapons. This double standard undermines both equity and justice in national security policy.

Security Must Remain Local

Security is inherently local. States have vigilante structures rooted in their communities, better equipped to understand and respond to local realities. Why bypass these legitimate outfits, only to empower Miyetti Allah with sophisticated arms in Kwara State? Such a move destabilises trust, weakens local frameworks, and emboldens groups with controversial antecedents.

The Role of the Presidency

President Bola Tinubu cannot afford to overlook this development. The empowerment of militia groups by the NSA is a direct affront to federalism and a dangerous precedent that risks eroding Nigeria’s fragile security balance. The antecedents of Miyetti Allah make this decision even more alarming, given the group’s controversial history in national conflicts.

The Tripod Model: A Path to Real Security

Nigeria must move beyond reactionary measures and adopt a comprehensive framework for addressing insecurity. The Tripod Model offers such a pathway. It rests on three pillars: community vigilance, institutional accountability, and technological integration.

Community vigilance means empowering local security outfits like Amotekun and other state‑based vigilante groups with the tools and legitimacy to protect their communities. Institutional accountability ensures that federal agencies, including the Office of the NSA, operate transparently and equitably, without favouring one group over another.

Technological integration deploys modern surveillance, intelligence, and digital coordination systems to strengthen both local and national responses to threats.

This tripod, community, accountability, and technology, provides a balanced, sustainable approach to security.

It curbs the excesses of militia groups, restores confidence in governance, and ensures that every Nigerian feels protected under the same standard of justice.

A Call for Probe and Reform

This matter demands a thorough probe. Nigerians deserve transparency and assurance that the instruments of state power will not be handed to groups whose loyalties remain questionable.

More importantly, the adoption of the Tripod Model must become a national priority, so that insecurity is addressed not with disingenuous shortcuts but with a robust, equitable, and future‑ready framework.

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Binance: Full Text of Tigran Gambaryan’s Account on His Detention in Nigeria https://techeconomy.ng/tigran-gambaryan-speaks-on-his-detention-in-nigeria/ https://techeconomy.ng/tigran-gambaryan-speaks-on-his-detention-in-nigeria/#respond Fri, 14 Feb 2025 11:51:31 +0000 https://techeconomy.ng/?p=153173 Tigran Gambaryan, the head of financial crime of crypto firm Binance, Friday, has opened up on his detention in Nigeria.

This is the first time Tigran Gambaryan would comment, revealed what transpired from the time, himself and Nadeem Anjarwalla, another Binance executive were arrested in Nigeria

It all started on March 1, 2024 in the first of tumbling naira, the Office of the National Security Adviser (NSA) has said the Federal Government was investigating the operations of Binance, a cryptocurrency exchange company.

Afterwards, officials of the company were detained and subsequently charged to court.

After his release in October 2024, Tigran Gambaryan left the country.

Today 14/2/2024, using his verified X handle, he provided details of alleged bribe demands naming three Nigerian lawmakers, including the date it occurred and the conditions under which it was demanded:

READ:

“Some Unknown Facts- you can read the rest in the Wired article and the NPR story.

The DSS was involved in the House of Representatives matter. We met with them at their office on Friday, January 5, 2024, as a prerequisite to our meeting with the House of Representatives. They alluded to the fact that we had to comply with whatever the House members instructed us to do. 

At the House meeting, there were three members present. Two of them were Peter Akpanke and Philip Agbese, both working under the leadership of Ginger Obinna Onwusibe. There was a third House member, but I don’t recall his name. They set up fake cameras and media to make the meeting appear official, but the cameras weren’t even plugged in. As you may already know, this ended with them asking for a $150 million bribe, paid in cryptocurrency into their personal wallets. A Mickey Mouse operation at its best.

@NuhuRibadu invited us to the official meeting and worked through Sa’ad Abubakar. Another key figure in this situation was Hamma Adama Belloji. Ogunjobi was just a pawn; they used him too. This was a sold as a friendly meeting with the NSA, the head of the SEC, and the CBN governor and include the discussion of the bribe that was solicited by the house of representatives.

The $26 billion figure they kept pushing publicly as some mystery money escaping Nigeria is complete BS. This information was provided in response to their request and was simply cumulative trade data for Nigerians on the platform. This money didn’t leave Nigeria—it was just people buying and selling crypto. For example, if you trade $100 a hundred times, that’s $10,000 in trade volume, but in reality, you only used $100. Again, just another example of them lying to cover up their BS investigation.

They lied about Nadeem escaping during mosque prayers. In reality, he returned and escaped afterward. I don’t know exactly how he managed to flee. He emailed me in November, but we haven’t discussed the details of his escape. It’s possible he paid someone off, but I have no proof. If Belloji had simply checked his passport for a visa, he would have realized that Nadeem did not use that passport to travel to Nigeria.

They sent a letter to the U.S. Embassy and the British High Commission, falsely claiming that we were voluntarily participating in strategic talks. This was a blatant lie.

Nadeem did not escape lawful detention—we were being held illegally. Belloji even admitted that he would fabricate evidence to obtain a court order to detain us for 14 days. Once the court order expired, they were unable to get an extension from the judge. At that point, they continued holding us illegally and had no justification for doing so.

There was a lot of noise about using Interpol to capture Nadeem. As someone who has been involved in multiple extradition cases, I can confidently say this was a joke. Extradition is a lengthy legal process, and no rational judge in Kenya or wherever would ever approve extradition for someone who escaped illegal detention at the hands of rogue law enforcement—especially when that detention involved holding employees hostage to pressure their employer. All noise.

They tried to use us to violate international privacy laws by demanding user data on all Nigerians to target opposition members allegedly “manipulating the price of the naira.” However, they all knew that the naira’s devaluation was a direct result of Tinubu’s monetary policy, which depegged the naira from the dollar. I’m not saying this policy decision was wrong, but everyone understood that removing government intervention would lead to extreme devaluation. Instead of acknowledging this, they used Binance as a scapegoat.

They also detained innocent EFCC detectives who weren’t even present when Nadeem “escaped.” If anyone should have been detained, it was Belloji, for multiple basic law enforcement failures, incompetence, and negligence- including:

  • Failing to search our belongings
  • Not checking passports for visas
  • Neglecting to coordinate with    immigration to issue travel restrictions or alerts
  • Mismanaging the situation internationally, creating an unnecessary diplomatic crisis

We had a strong working relationship with Nigerian law enforcement, but their greed destroyed all cooperation between Nigeria and the entire industry.

They even threatened administrators at Nizamiya Hospital, instructing them not to admit me when I was extremely ill. Additionally, they pressured the hospital to withhold my medical records from my attorneys. This was later confirmed by the Turkish Ministry of Health when my friend met with their officials in Turkey. 

Ribadu emphasized that he wanted billions in payouts to fund his future political ambition. However, when the corruption scandal came to light, he was trapped—because any settlement would now be perceived as a bribe. I guess he really wanted his boss’ job 🙂

Ribadu even hired a U.S. law firm to negotiate my release, but this failed due to their incompetence and greed.

Looking at you Idayat Hassan.

Ribadu overstepped his authority and embarrassed Nigeria in front of U.S. National Security Advisor Jake Sullivan.

Ribadu acting like an asshole angered the White House and led to diplomatic repercussions—the U.S. limited visas to the Nigerian delegation for UNGA, and Biden refused to meet with Tinubu until my situation was resolved.

In the end, Ribadu overestimated his influence. They thought they could secure a quick win, but instead, they created an international incident, exposing his incompetence on a global scale.

That’s it’s for me for now. I don’t want to dwell on this, but it’s important for Nigerians to get the facts. I met amazing people in Nigeria. It’s a shame that these muppets are in charge”.

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DEVELOPING STORY: Binance Detained in Nigeria, Passports Seized https://techeconomy.ng/developing-story-binance-detained-in-nigeria-passports-seized/ https://techeconomy.ng/developing-story-binance-detained-in-nigeria-passports-seized/#respond Wed, 28 Feb 2024 21:30:03 +0000 https://techeconomy.ng/?p=126208 Nigeria’s renewed crackdown on cryptocurrency has opened a new chapter with the country going after senior executives at Binance.

Two executives of the crypto platform who flew to Nigeria following the country’s recent restriction on several cryptocurrency trading websites have been detained by the office of the country’s National Security Adviser (NSA) and their passports seized, according to a report by Financial Times.

This confirms recent allegations that the country may be going after crypto traders in its effort to rein in currency speculators (Source: Financial Times).

Read further here

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Breakdown of 2024 Budget Signed into Law by Tinubu https://techeconomy.ng/breakdown-of-2024-budget-signed-into-law-by-tinubu/ https://techeconomy.ng/breakdown-of-2024-budget-signed-into-law-by-tinubu/#respond Mon, 01 Jan 2024 23:05:07 +0000 https://techeconomy.ng/?p=121632 Monday, January 1, 2024, President Bola Tinubu signed the national appropriation bill 2024 of N28.7 trillion into law.

A breakdown of the appropriation bill 2024 of N28.7 trillion:

  1. Capital Expenditure — N9.99 Trillion (35%)
  2. Recurrent Expenditures — N8.77 Trillion (30%)
  3. Statutory Transfers — N1.74 Trillion (6%)
  4. Debt Service – N8.27 Trillion (29%)

How FG plans to fund the budget 2024:

The Tinubu’s government planned the budget on the assumption that:

  1. Oil price benchmark will remain at $77.96 per barrel
  2. Oil Production Rate will be 1.78 million barrels per day
  3. Exchange rate will remain at N800 to $1, and
  4. Gross Domestic Product (GDP) growth will be 3.88%

President Tinubu Signs the appropriate bill 2024:

Speaking at the signing of the bill, the President assured Nigerians that the implementation of the 2024 budget would be efficiently pursued and vigorously monitored, adding: “All the institutional mechanisms shall be held to account in ensuring diligent implementation”.

“All MDA’s have been directed to take responsibility and provide monthly Budget Performance Reports to the Ministry of Budget and Economic Planning, which in turn shall ensure the veracity of such. The Minister of Finance and Co-ordinating Minister of the Economy shall hold regular reviews with the Economic Management Team and, in addition, I shall Chair periodic Economic Coordination Council meetings,” he said.

The top priorities of the 2024 budget of N28.7 trillion are defence and internal security, job creation, macro-economic stability, improved investment environment, human capital development, poverty reduction, and social security.

The President emphasized that his commitment to enhance investment promotion while creating a rules-based society that favours no individual over the law begins with important reforms in the Nigerian judiciary, the funding for which is captured in the 2024 Appropriation Act.

“Funding the judiciary is a major element in our effort to support a just, rules-based society. Statutory transfer to the Judiciary has been increased from 165 billion naira to 342 billion naira,” the President said.

Godswill Akpabio, president of the Senate, and Tajudeen Abbas, speaker of the House of Representatives, were present at the signing.

Other senior government officials present at the brief ceremony include: Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Chief of Staff to the President, Femi Gbajabiamila; Minister of Budget and Economic Planning, Senator Atiku Bagudu, and National Security Adviser, Nuhu Ribadu.

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Ribadu: Gov Mbah has Fought Insecurity to a Standstill https://techeconomy.ng/ribadu-gov-mbah-has-fought-insecurity-to-a-standstill/ https://techeconomy.ng/ribadu-gov-mbah-has-fought-insecurity-to-a-standstill/#respond Tue, 19 Dec 2023 17:51:26 +0000 https://techeconomy.ng/?p=120938 Mallam Nuhu Ribadu, the Nigeria’s national security adviser (NSA), has commended the effort of the Governor Peter Mbah administration at restoring normalcy in Enugu State, saying the administration has fought insecurity to a standstill in the state.

This was even as Governor Peter Mbah commended the Economic and Financial Crimes Commission, EFCC, on its success at fighting corruption, reiterating the commitment of his administration to waging a remorseless war on corruption and insecurity, saying it was critical to the effort to grow Enugu’s economy from a $4.4 billion to $30 billion economy and eradicate poverty.

Speaking at the official commissioning of the EFCC Enugu Zonal Command Complex, Tuesday, Ribadu, who was the Special Guest of Honour, reiterated the federal government’s commitment to the war against insecurity and corruption across the country, saying the President Bola Tinubu administration had no room for corrupt EFCC officers and law enforcement agents.

He said:

“Your Excellency, the governor, we want to thank you so much for the good work you are doing, not just for Enugu State, but for our country. Things are changing. We are getting better here and things are improving. You are one of the very, very few that has shown that, indeed, it is possible. Security is getting back to normalcy in Enugu State and, by extension, the South East. And you are in the forefront of it. We recognise that and thank you for the good work you are doing. The economy is improving. It is clear. You are addressing insecurity. You are engaging.

“We believe that with leaders like you, the human challenges and the typical things we had to face in the past will certainly be put behind us. We want to encourage you and all those, who are doing exceptionally good work in restoring order in Nigeria.

“We were here in June and we had an interaction with the governor, and he came out strongly and courageously. He said that he would do his best to restore order. Today, based on our own records and statistics – because we get daily reports of activities – there are lots of instances or days or even weeks and more that we have not recorded one single violence or incident of either terrorism or even kidnapping. They are going extremely down in Enugu State and by extension the South East. Things have changed.

“Unfortunately, before the coming of this administration, police stations were being attacked, law enforcement people were being attacked. People were giving selfish orders. Those who are not even in Nigeria will sit somewhere in the comfort of the countries where they live and be giving instructions that people should not go to work; should not go out to look for their own livelihood and people used to take such orders.  But no more; it is no longer happening. We thank the leaders who have emerged in the South East and we thank the federal government for engagement.

“We want to thank the governor of Enugu State. He has done a wonderful job. And also tell people of this state to support him. He is doing a good job. We are very, very proud of what is happening today in Enugu State and the South East by extension”.

As part of the security effort, he reiterated the commitment of the Tinubu administration to giving every Nigerian a sense of belonging and treating every part thereof with equity, justice, and fairness.

Also speaking, Governor Peter Mbah, while commending security on the good job done so far in the state, said his administration supported the EFCC towards the rebuilding of a befitting zonal office in Enugu to strengthen the war against corruption and insecurity.

“We hereby enjoin the security agencies and EFCC to sustain their good work to ensure that Enugu State and Nigeria as a whole are finally able to consign the memories of insecurity to distant history.

“The opening of this office reconfirms our commitment as a nation to sustain the war against corruption. This commitment is well founded in view of the many proven negative effects corruption has on economic development.

“With this in mind, considering the objective of this administration to make Enugu one of the top 3 states in Nigeria in terms of GDP and achieve a zero percent rate in the poverty head count, it is clear that corruption has to be brought down to a barest minimum within the State,” he stated.

On his part, Ola Olukoyede, EFCC Chairman, charged his men to raise the ante, utilising the facilities and resources at their disposal in the war against corruption to redeem the nation’s image.

“With this facility, I want to assure His Excellency and indeed all citizens of Enugu State and the entire South East region that fraudsters have no place in any part of the zone.

“To whom much is given is given, much is also expected. I require every staff to be doubly committed to the mandate of the Commission for the South East to feel the greater impact of the EFCC in our development”, he said.

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