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Ex-Binance CEO Scheduled To Be Sentenced In US Court

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Federal prosecutors in the US are urging for the imprisonment of former Binance CEO Changpeng Zhao as he appears in court on Tuesday on money laundering charges.

As part of an agreement with US authorities, Zhao, a Canadian citizen, stepped down from his position at the world’s largest cryptocurrency exchange platform late last year.

Zhao admitted guilty to breaching US anti-money laundering regulations, while Binance reached a settlement in February agreeing to pay $4.3 billion to resolve the charges.

According to a court filing, prosecutors are seeking a $50 million fine and a three-year prison sentence for Zhao, which is uncommon for a crime that usually results in probation.

“He made a business decision that violating US law was the best way to attract users, build his company, and line his pockets,” Justice Department lawyers said of Zhao in a sentencing memorandum.

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Ekwulobia flyover is taking shape and its appearance is impressively large.

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Ekwutosbia Flyover
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The Ekwulobia flyover project seems to be progressing well, and its massive structure is likely to make a significant impact on the area’s infrastructure and traffic flow.

Flyovers can greatly reduce congestion and travel time, improving overall connectivity and accessibility.

I hope the project is completed soon and benefits the community! Would you like to know more about the project’s details or its expected impact on the region?

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Opay now has a market value of $2.7 billion, making it the largest digital bank in Nigeria.

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OPay, a Nigerian fintech startup, has a market value of $2.7 billion, making it one of the largest digital banks in Nigeria

Here are some key points about OPay:

– *Rise to Prominence*: OPay has quickly emerged as the most downloaded fintech app in Nigeria, thanks to its ‘super app’ that combines multiple services ².

– *Services*: OPay offers a wide range of services, including money transfers, bill payments, airtime purchases, and more ².

– *Agent Network*: OPay has an extensive agent network, with over 500,000 agents spread across Nigeria, making it a leading player in the fintech space ².

– *Customer Base*: OPay has amassed over 35 million customers, making it a trusted platform for financial transactions ².

– *Success Factors*: OPay’s success can be attributed to its ability to address the challenge of poor digital identity, its agile IT network, and its extensive agent network ².

– *Funding*: OPay has received significant funding, including a $400 million investment led by SoftBank Vision Fund 2, which has enabled it to aggressively promote its offerings Âł.

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Max Air airplane lose tyres during take-off in Yola

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A Max Air airplane departing Yola airport for Abuja on Sunday evening suffered a tyre burst during take-off.

Max Air’s flight number NGL1649, a Boeing 737 with registration mark 5N-ADB, reportedly carried 119 passengers and six crew members on board.

A statement by the Director of Public Affairs and Consumer Protection of the Nigeria Safety Investigation Bureau, NSIB, Mrs Bimbo Olawumi Oladeji, said no injuries were recorded.

The statement reads: “This evening, Max Air’s flight NGL1649, a Boeing 737 with registration 5N-ADB, carrying 119 passengers and 6 crew members, was cleared for takeoff from Yola Airport en route to Abuja. During the takeoff roll, a loud bang was heard, identified as the bursting of the rear gear tyres.

“Initially, two tyres burst. While attempting to taxi off the runway, the remaining two tyres also burst, rendering the aircraft completely disabled. Fortunately, no injuries were reported. A go-team, led by NSIB Director General Captain Alex Badeh Jr., will visit the incident site tomorrow morning to conduct an investigation.”

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