Opinion

By Ammar Muhammad Rajab

On November 1st, 2023, following mobilisation by Ahmadu Bello University, Zaria, I enrolled with the NYSC at one of the accredited centres in Zaria. I was deployed to Wailo Camp in the Ganjuwa Local Government Area of Bauchi State shortly after.

I departed Zaria on November 2, 2023, via a commercial bus. Following a six-hour journey, I arrived in Bauchi and spent the night there. On the afternoon of the 3rd of November, a Friday, I boarded another commercial car for a 60-kilometer journey to the camp where I had been deployed.

Immediately upon my arrival at Wailo camp, I underwent registration with the NYSC officials. Subsequently, I received the necessary items and materials for my three-week stay at the camp. The orientation period blended joy, intensity, lasting memories, education, and valuable information. I vividly recall the rigorous drilling, the monotonous parades, and the enlightening lectures delivered by various professional bodies, including but not limited to the DSS, Army, Police, NHIA, WEMA Bank, Fire Service, NIM, NSE, OIC Foundation, NAFDAC, FRSC, NDLEA, NDE, NGOs, SDGs, NOA, USAID, and YOMA, among others.

The army and Man O’ War were highly professional in their approaches. Despite the unfamiliar circumstances we found ourselves in, I enjoyed the teachings and orientation provided at the camp.

Skills Acquisition and Entrepreneurship Development (SAED), an acronym for a NYSC program established in 2012, was designed to tackle the pervasive issue of unemployment, a significant challenge confronting Nigerian youths and graduates today. This issue has become a national concern as some of our most educated and dynamic individuals are not actively contributing to economic and social development.

The SAED program was charged with raising corps members’ awareness of the realities of the Nigerian job market. Offering foundational entrepreneurship training and practical skills aimed to empower them to consider the possibilities of self-employment or initiating their businesses.

Many corps members harbour disdain for the program, often attributing it to the lengthy duration of both the lectures and practical sessions. During our orientation camp, the program ran daily from 9:00 a.m. to 2:00 p.m., spanning 5 hours. In the classroom, it was common to observe corps members dozing off, engrossed in their smartphones, displaying signs of fatigue, or engaging in other unserious behaviour.

To me, that period was the highlight of the orientation camp. I gained invaluable knowledge, particularly during the lecture delivered by an official from the National Directorate of Employment following the distribution of the guidebook titled “Starting My Own Small Business: Participant’s Workbook.” This lecture was a pivotal and transformative moment for anyone responsible and attentive.

 We were imparted with comprehensive insights into the intricacies of establishing a formal business in Nigeria and the diverse opportunities available across various sectors. We also learned how one could secure grants or loans from government agencies tasked with that responsibility or from commercial banks to facilitate business expansion.

Many individuals who had successfully leveraged these opportunities were invited to deliver practical lectures, and they did so with professionalism and expertise. Their first-hand experiences served as invaluable lessons for us, providing practical insights and guidance on effectively navigating the entrepreneurial landscape.

I listened attentively, maintained focus, and diligently documented all the necessary information provided during the SAED program. Hajia Jummai Idris Reme, the Head of the SAED program in the camp, often reiterated to us that “the SAED program is a corps members’ pathway to wealth creation,” and I wholeheartedly agreed with her sentiment. With commitment and dedication, one could create wealth using the knowledge acquired during the SAED program.

Before attending the camp, I already had a business idea and was working diligently towards realising it. However, attending the SAED classes further ignited and encouraged my efforts. As a result, I recently took the step to register my business with the Corporate Affairs Commission, spurred on by the confidence and insights gained from the SAED program.

In Wailo Camp, I initially participated in the ICT class under the SAED program, but I eventually discontinued my involvement due to some reservations. Subsequently, I joined the educational class, which I found very engaging. However, the class experienced low participation rates. Although we initially started with around twenty-plus participants, we concluded the class with fewer than ten individuals.

Despite the low turnout, I thoroughly enjoyed the educational class. We were exposed to numerous informative, educative, and innovative ideas about education, which enriched my understanding and perspective on the subject.

Most of the participants in the educational class were educators, except myself and one other individual. During this class, I learned about the legal processes involved in opening a private school. I am grateful to Aishatu Yusuf Saje, the head of the educational class, for imparting such valuable knowledge.

Isa Mohammed Inuwa and I were privileged to represent the educational class on Friday, November 17th, 2023, during the camp’s inter-platoon skills acquisition competition exhibition. Following my presentation, Mrs. Rifkatu Daniel Yakubu, the Bauchi State Coordinator, offered valuable advice. She emphasised the importance of establishing a standard school to contribute to our country’s education development. Mrs Yakubu highlighted the prevalence of substandard schools and stressed the significance of ensuring quality education. Her advice resonated deeply with us and reminded us of our responsibility to shape the educational landscape.

With the assistance of the SAED program, four corps members were able to secure a total of 2.3 million Naira in grants. Among the 90 corps members who submitted their business plans, seven were selected to present their proposals to WEMA Bank officials, fellow corps members, and other NYSC officials. Ultimately, four corps members emerged as grant recipients, with amounts awarded: 800,000 Naira, 700,000 Naira, 600,000 Naira, and 200,000 Naira, respectively. This achievement highlights the effectiveness of the SAED program in fostering entrepreneurship and facilitating financial empowerment among corps members.

The prevalent laziness among many youths today contributes negatively to their disdain for the SAED program. Several corps members have expressed that they consider it the most “boring” aspect of the orientation camp. However, the parade is the most tedious part of the camp. This is because I lack any passion for becoming an army or paramilitary officer, which diminishes my enthusiasm for the parade activities.

The blame should not be placed on the NYSC SAED program itself. Instead, the laziness and lack of foresight among many of our youth and graduates hinder their appreciation of this valuable opportunity. The SAED program serves as a platform to showcase talents and acquire knowledge that can be instrumental in thriving during and after the NYSC program. We need to seize this opportunity and make the most of it, as it may only come once in a lifetime.

Ammar Muhammad Rajab is a journalist who writes from Kano and can be reached at ammarmuhammad1993@gmail.com.

By Muhammad Abubakar

It has been a while since I wrote a Kannywood movie review. The last film I reviewed was Ruwan Dare, directed by the uniquely skilled Auwal Yaseen. In this review, I will discuss the same director’s new series release (Zafin Nema), which shares some similarities with the previous movie.

Zafin Nema is a romantic comedy-drama about two lovers, Ilu (played by Sadiq Sani Sadiq) and Saude (played by Maryam Yahaya), who face numerous challenges. Ilu comes from a poor background, and Saude’s family, especially her paternal grandmother (Hajara Usman), disapproves of their relationship. As a result, Ilu and his friend Rabe (played by Tahir I. Tahir) set off to the city in search of money to marry Saude.

Ilu and Rabe vow not to return home until they become five times richer than Alhaji Dangana (played by Shehu Hassan Kano), whom Saude is forced to marry. Ilu’s financial struggles cause his relationship with Saude to fall apart, and her family’s obsession with material possessions doesn’t make things easier.

The movie is entertaining and leaves you curious about what will happen in the next episode. The cast delivers good performances, but the camera work is poor and looks like it was shot with an ordinary Android camera. However, the natural background is quite appealing.

One issue with the movie is that it’s without subtitles, despite Kannywood’s growing audience across Africa and beyond. Additionally, the subtitles in some Kannywood films are poorly done.

Surprisingly, the industry still produces movies with terrible subtitles despite having (seemingly) educated individuals. Therefore, I suggest they employ people proficient in English to handle subtitles.

Overall, Zafin Nema is a must-watch movie that you shouldn’t miss. I, therefore, recommend it for all and sundry.

Muhammad Abubakar wrote via muhammadabubakarsulaiman070@gmail.com.

By Prof. Abdelghaffar Amoka

In 2011, the exchange rate was 1 USD to 155 naira, and in 2024, it is about 1 USD to 1,550 naira. That is a ratio of 1: 10 for 2011 and 2024.

In 2011, a loaf of bread cost 150 naira, and in 2024, it is about 1,500 naira. That is a ratio of 1: 10 for 2011 and 2024.

In 2011, a bag of maize cost about 5,000 naira. In 2024, it is about 55,000 naira. That is a ratio of 1: 10 for 2011 and 2024.

The price of most basic needs has increased ten times between 2011 and now. That is still a ratio of about 1: 10 for 2011 and 2024.

Then, the price of fuel in 2011 was 65 naira per litre, and the current price in 2024 is about 690 naira. That is still a ratio of about 1: 10 for 2011 and 2024.

If the exchange rate and fuel price remain the same, if the minimum wage was 18,000 naira in 2011, it should be 180,000 naira in 2024.

Abdelghaffar Amoka Abdelmalik, PhD, wrote from Ahmadu Bello University, Zaria. He can be reached via aaabdelmalik@gmail.com.

By Bello Sagir

Today is World Speech Day (WSD), 2024! This year’s theme is “Speech for a Better World.” WSD is a day of celebration for all Nigerians and people around the world.

In 2015, Simon Gibson founded WSD at the Athens Democracy Forum to celebrate free speech, public speaking, and public speakers. In 2016, WSD was inaugurated and first celebrated in Athens and Singapore. By 2020, over one hundred countries celebrated WSD. As a result of this milestone, Facebookers and YouTubers began live-streaming the event.

World Speech Day is a celebration day for all Nigerians because, prior to 1960, when we officially became an independent nation from Britain, there were a series of speeches by Sir Abubakar Tafawa Balewa, Herbert Macaulay, Nnamdi Azikiwe, etc., in Britain, some African countries, and, above all, in Nigerian media and during processions and campaigns, all in a bid to free Nigeria from the shackles of the colonial masters.

Sheikh Uthman Danfodio reformed Islam in northern Nigeria, not because he was the most pious or educated person nor because he was the most fearless warrior, but largely, if not solely, because he was a very persuasive speaker.

The same is true of Malam Aminu Kano, who won the Kano East constituency in the federal legislature during the Second Republic. Similarly, in 1979, his party, the PRP, won the Kano and Kaduna gubernatorial seats in a landslide victory.

As we are Black and African, so is Barack Obama, whose father went to the United States from Kenya. Therefore, his political victory affects us. According to analysts, Obama became the first Black African American President because he could speak persuasively to the audience.

Teaching is a form of speech that falls under informative public speaking. That is to say, all educated people are educated because teachers have taught them. Imagine the world without teachers! Would there be medical doctors who take care of our health, engineers who design and make cars for us, pilots who fly us, military and other security personnel who secure us, bankers who keep and manage our money, or even journalists who hunt for news professionally and inform us? Would there be all these personalities and many more?

Regardless of the religion you follow, it reached you through public speakers who are God’s agents. They used largely informative and persuasive public speaking to extend the religion to people. Also, you learn how to worship God through public speakers who teach you at schools the performance of the religion, as prescribed by God and his messenger.

See how public speaking has been instrumental in Nigeria’s independence, the reformation of Islam in Northern Nigeria, educating Northerners (of that time), resisting bad governance, and a person of African descent becoming president of the powerful United States of America.

Additionally, considering how public speaking is responsible for the creature comforts and peace we enjoy, among other things, it is not amiss to conclude that World Speech Day is worth celebrating every year by all of us in our various capacities because, in a way, celebrating the day is celebrating all the public speakers responsible for the civilized world we are all proud of today.

Bello Sagir Imam

Public Speaking Coach

By Malam Mahmud Zukogi

Those who did one program or the other at the Bayero University, Kano (BUK) new campus may know Malam Ahmad in two places: the university library and the now-old new campus mosque. 

For students who frequent the library for the serious business of “acada,” the likelihood of you not meeting Malam Ahmad every other day is zero. At any of his bits in the Reserve, Circulation, Serials, and Nigeriana sections, you are certain to meet a man who is calm, gentle, welcoming, and professional in his disposition. 

Malam Ahmad listens to you, guides you, and directs you where to get the books and materials you seek. Such is the man Malam Ahmad, who recently retired from the services of Bayero University, Kano, as a Principal Librarian in 2019.

Malam Ahmad obtained his Diploma in Library Science in the early eighties and was absorbed into the university’s services. He went on to do his bachelor of Arts Education in Library Science at Ahmadu Bello University (ABU) Zaria and capped it off with a master’s degree in BUK.

However, his professional duty has not made Malam Ahmad renowned at the university. For over 40 years, his heart has been devoted to the mosque. Starting as an assistant Muezzin, he rose to become the substantive Muezzin, a role he held steadfastly. 

At the onset of time for prayers, you will hear Malam Ahmad’s voice waxing through the air, calling faithful to prayer. He’s as constant as the northern star. Whether sun or rain, he will be on top of time to open the mosque, clean up the spaces and hit the mic with his signature voice. Let the rains tear through the skies with intensity at dawn; his voice calling to prayer and success will wow the fierce nature into the homes and ears of adherents in the quarters. Subhanallah.

He looks frail in his mid-seventies, but his heart is still strong and firm. As a testimony to this, even after packing out of the university quarters, Malam Ahmad will still be in the mosque at the appointed time. The only time you won’t find him is when he is challenged healthwise. He is a very peaceful man, never engaging in any squabbles or quarrels. You will find him engrossed in zikr and recitation of the Holy Qur’an between prayers. 

Ya Allah, grant this your servant good health and endow him with sufficient means to live his remaining life in peace and harmony. Ya Allah, grant him a beautiful ending and enlist him into Jannat ul Firdaus.

By Bello Hussein Adoto

When COVID-19 came, we switched from receiving exegeses of the Qur’an and Hadith from masājid and physical gatherings of knowledge to virtual ones. We attended Facebook Live and Zoom sessions to listen to our favourite scholars. We followed their tafsirs on Mixlr, Google Meet, and Telegram.

These were supposed to be temporary solutions to the social-distancing mandates that COVID-19 imposed, but they have become the norm. It is about time we returned to the masājid to restore their beauty and secure the blessings of learning physically from scholars.

This Ramadan is a great time to start.

Allāh says in the glorious Qur’an, “I did not create mankind and the jinn except to worship Me.” The masjid is central to this worship. We observe the congregational ṣalāt at the masjid, perform iʿtikāf there, distribute the zakāh, and listen to explanations from our scholars.

Beyond worship, the masjid unites us as a community by bringing us together with our Muslim brothers and sisters as members of a shared community, united by faith. In preserving this faith and community, we must find a way to restore the essence of our masajid, even in the age of online communities.

Why should we return to the masjid?

Islam is not against technological innovations that would benefit Muslims. Indeed, we use microphones to project the adhan, telescopes to observe the moon, and smartphones and other devices to spread the message of Islam beyond the masajid. Therefore, we are free to seek and adopt goodness from any source.

However, attending virtual lectures or learning at online madrasahs or Islamic institutes should complement, not substitute, listening to lectures in the masjid or learning physically at the feet of scholars.

The masjid creates a veritable platform for teachers, scholars, and students to connect physically and leverage the elements of the surroundings—the sound, the sights, the mannerisms, and the divine blessings—to achieve maximum benefit from the engagement. Besides, it is the most common place to connect as brothers and sisters and focus solely on learning and worship without distractions.

So, how can we return to the masjid?

Start small

Returning to lectures at the mosque or taking in-person classes would be challenging in the first few days. You are changing a routine and need time to adjust.

So, start small. Instead of joining Twitter Spaces for morning reminders, stay back for three to five minutes to listen to short tafsirs of the Quran and Hadith. If that is unavailable at your masjid, introduce the idea to the masjid committee. Then, you can listen to your virtual sessions on your way home.

Commit to optimizing Jum’ah sessions

The Jum’ah prayer is our weekly chance to gather in our numbers to worship Allah. Thankfully, Imams deliver khutbahs on salient issues that can provide us with much to ponder for the week. We can optimize our schedules to prioritize the Jum’ah sessions.

Set out early to secure convenient spots. Those of us who sleep through the khutbah can nap before going for Jum’ah. That way, we are more likely to stay sharp until the end of the service and earn the full reward.

Leverage your local masjid

The scholars at the mosque you pray at may not compare with the exotic collection of scholars you can listen to online, but they offer a great platform to keep you grounded in your community’s realities.

They speak your language, use local examples to explain Islamic concepts, and are easier to reach than those you listen to online. Physical sessions with these scholars and teachers also provide a social presence unmatched by virtual ones.

The mere fact that they are live before you strengthens your connection and primes you to appreciate better the content and context of the lecture or discussion. So, start with your local masjid and see how a virtual platform can help you improve.

Remember, the masjid offers more than learning

Think back to the last time you were at the masjid. Perhaps you met a brother you hadn’t seen in a while or made a new acquaintance. Whatever the case, you must have said tasleem, shaken a hand or two, or even felt the warm embrace of your brother in the Deen. Such is the richness that comes with the masjid, the one that strengthens our brotherliness and fetches Allah’s mercies.

We can listen to podcasts for hours and join Mixlr, Zoom, Google Meet, Facebook, or YouTube live sessions to follow our favourite scholars. Still, they cannot and should not replace our intimate experience of physical sessions.

If anything, their many limitations—the distractions, the weaker connection between scholars and students, speakers and listeners, the transient sense of community that virtual platforms foster, and even the difficulties that come with setting up virtual sessions and following them—show that we need our masājid and our ḥalaqah now more than ever.

Ramadan is here. It’s time to return to the masjid.

By Abba Abdullahi Garba

There is an apparent misunderstanding of what a kingdom in the Arabian Peninsula (Saudi), Islam, and Muslims mean and what they represent, especially when it comes to the point of view of some Nigerians.

This short, precise, and well-clarified article, under 700 words, will differentiate these things and conclude with the reason why the Saudi Kingdom does not represent Muslims or Islam but Saudi Arabians.

Saudi Arabia Kingdom

The Saudi Kingdom rules Saudi Arabia and represents it worldwide. It acts as the president, prime minister, and legislative body of Saudi Arabia.

Anything that is outside Saudi land is outside the control of the Saudi Kingdom [from religion, spirituality, international politics, et cetera], except what directly relates to it or its citizens.

The Kingdom, just like its counterparts in Qatar, the UAE, and others, has the authority to allow things [like entertainment, sports, et cetera] to take place within their land. And that is their business, not Muslims!

Islam

Islam is a non-modifiable religion practised by over one billion people all over the globe. And those people come from all walks of life and different races.

However, what makes it the perfect choice for many people is the fact that there is no racism, discrimination, indecency, or so many other leftist things. It is a religion that uses over 1,400 years of old scripture, which, to date, no one has modified, and it will remain like that till the end of the world.

Islam does not have a representative country, kingdom, or race. Its representatives are the teachers who taught it appropriately, and even if they cannot modify its teachings, they must teach it the way it is.

Islam promotes peace, tolerance, love for each other, good manners, truthfulness, and honesty, among other things.

I can’t tell you everything about Islam right now because this article is supposed to be short. But, sincerely speaking, Islam is a way of life!

Muslims

Muslims are the people who accept and practice the teachings of Islam regardless of their race, country, or region. And when I say Muslims, I mean all Muslims.

And it is impossible to say this: all Muslims are good people, or all are bad! Some are good people, and some are bad people. Everywhere and in every religion, there are those kinds of people, good and bad.

And the behaviour of one Muslim does not represent Islam if it is against Islamic teachings. It represents that person, not his religion.

And the behaviour of a kingdom that rules a country of people who follow and practice Islam does not represent Islam; rather, it represents that country and its leaders.

Any Islamic preacher or ordinary Muslim whose actions or words are out of Islamic context does not represent Islam but rather his person.

Conclusion

Islam is a religion. Muslims are those who practice it. And the Saudi Kingdom does not represent Muslims or Islam. It represents the people of Saudi Arabia. And Muslims all over the world have no say in what the Kingdom of Saudi Arabia decides for its people in any aspect of life.

So, for those who think the Saudi Kingdom represents Islam, then it is time to change your perception on this topic, for Islam is a religion with no authoritative body that can speak or act on its behalf. And Muslims are those who practice it.

And you can be one too!

Abba Abdullahi Garba wrote from Zugachi, Kano, Nigeria. He can be reached via abbaabdullahigarba@outlook.com.

By Usman Muhammad Salihu

Usman Umar, also known as Sardaunan Samarin Gombe, is a figure whose name resonates not only within his community but also among his peers and colleagues. His persona is one of remarkable achievement, characterised by a relentless pursuit of excellence in every endeavour he undertakes.

From his formative years, Usman Umar has displayed an unwavering commitment to academic and personal growth. His journey as an exemplary student in secondary school paved the way for a trajectory marked by consistent success and distinction.

What sets Usman Umar apart is his academic prowess and innate ability to inspire and uplift those around him. Whether it’s through his words of encouragement or his actions that speak volumes, he has a way of leaving a lasting impact on everyone he encounters.

Beyond his academic achievements, Usman Umar is a shining example of resilience and determination. His unwavering dedication to his goals, coupled with his ability to overcome obstacles, serves as a source of inspiration for aspiring individuals.

Usman Umar’s commitment to service and community development is another defining aspect of his personality. He understands the importance of giving back to society and actively seeks opportunities to make a positive difference in the lives of others.

In essence, Usman Umar embodies the qualities of a true leader – someone who leads by example, empowers those around him, and remains steadfast in his pursuit of excellence. His story serves as a testament to the power of determination, resilience, and service in shaping a life of significance and impact.

Usman Muhammad Salihu writes via usmande5363@gmail.com.

By Garba Sidi.

I hope this letter finds you in good health and high spirits. 

I am writing to bring to your attention the commendable efforts of Honourable Abdulladir Umar Bala (T.O.) during his tenure as the Chairman of Hadejia Local Government. As a concerned citizen of Hadejia and someone who deeply cares about our town’s progress, I wish to express my support for Honourable Abdulladir Umar Bala’s candidacy for a second term.

Throughout the years, it has been observed that, apart from Bello Auyo, no other leader has contributed as significantly to the development of Hadejia as Honourable Abdulladir Umar Bala. His dedication to improving our town is evident in the transformative projects initiated under his leadership.

The essence of democracy lies in representing the people’s will, and Honourable Abdulladir Umar Bala (T.O) has proven himself to be a leader who genuinely understands and serves the people’s needs. “Government is the people, for the people, by the people,” and this principle resonates with the Hadejia community, which admires his leadership.

Furthermore, I would like to highlight Honourable Abdulladir Umar Bala’s unwavering commitment to the All Progressives Congress (APC). He wholeheartedly supported the party, actively participating in the campaign for His Excellency Mallam Umar Namadi, contributing significantly to the success of the 2023 elections.

Despite facing unjust attempts to tarnish his image, Honourable Abdulladir Umar Bala perseveres to bring beneficial projects to Hadejia. Recognising that certain political rivals may be trying to sow discord between his administration and your esteemed government is crucial. I sincerely hope you see through these divisive tactics and acknowledge the positive impact he has had on our community.

The people of Hadejia are well-informed and discerning, and they can distinguish between genuine efforts for development and misleading narratives meant to undermine a dedicated leader. Denying Honourable Abdulladir Umar Bala the opportunity to run for a second term could be perceived as a hindrance to the progress and development of our town.

I trust that this message will reach you, and I urge you to consider the positive contributions of Honourable Abdulladir Umar Bala (T.O.) to Hadejia. Allowing him to run for a second term would be a decision in favour of continued growth and prosperity for our beloved town.

Thank you for your time and consideration.

By Haruna Chiroma

Binance is widely regarded as the largest cryptocurrency platform globally, facilitating billions of dollars in transactions daily. As of March 3 2024, it had over 179 million registered users across 100 countries and supported over 30 languages. Despite its prominence, this emerging financial institution operates with relatively lax oversight from financial regulatory agencies, unlike traditional financial institutions. This lack of stringent policing renders the platform vulnerable to illicit transactions. 

However, Binance also plays a significant role in fostering economic growth and providing earning opportunities for both digital natives and digital immigrants. Established in 2017, Binance rapidly gained widespread acceptance, particularly among digital natives, spreading rapidly like wildfire. 

Binance has encountered significant resistance from governments worldwide, citing concerns over its lack of transparency and regulatory issues. Numerous countries have completely banned Binance from their cyberspace, prohibiting transactions within their borders. These countries include China, Malaysia, Italy, Vietnam, the Philippines, Thailand, Australia, and several others. Despite all this, Binance is boldly embracing the wave of AI to stay competitive in the cryptocurrency market. 

The company has incorporated an AI token known as “Sleepless AI” into its platform, which is available on the Binance Launchpool. A visit to the Binance website indicates a listing of the top AI crypto tokens according to market capitalisation, with a market cap of over $7 billion and over $1.3 billion in trading volumes. 

Despite being banned from Japan, in 2022, Binance made determined efforts to re-enter the Japanese crypto market by expressing interest in acquiring Sakura, a Japanese crypto company. In another development, Binance sought a crypto license in Germany to facilitate transactions within the country’s crypto market, aiming to expand its presence across Europe. 

However, the crypto giant encountered regulatory hurdles from German financial regulators. In a prompt response, in March 2023, Binance announced the withdrawal of its license application. Following sanctions imposed on Iran, sidelining the country from traditional financial systems, Iran turned to Binance as an alternative gateway to financial institutions. Blockchain data reveals that between 2018 and 2022, Binance facilitated over $8 billion worth of transactions for Iranian firms. 

Banning Binance from a country does not necessarily prevent Binance customers from finding alternative means to conduct transactions within the banned country’s crypto market. The Wall Street Journal, published on August 2, 2022, stated that Binance successfully facilitated over $90 billion in transactions in one month within China’s crypto market. 

In the current digital age, blocking access to Binance is unlikely to be effective. Users can easily bypass restrictions by installing a Virtual Private Network (VPN) with a fleet of thousands of servers across many countries, choosing a server in a country where Binance operates, and accessing the platform with minimal effort. 

In 2021, Binance encountered regulatory challenges in Thailand, with the country’s financial authorities accusing the platform of operating without a license. This led to filing a criminal complaint against Binance with the Thai police. Later, Binance was finally banned from operations in Thailand.

Binance finds itself entangled in a legal dispute with US authorities, facing accusations of violating federal money laundering laws by neglecting to report more than 100,000 transactions deemed suspicious. Prosecutors argue that Binance serves as a prime environment for ransomware transactions (a cyberattack method that denies victims access to their computers until a specified ransom is paid via payment systems) and the exchange of payments for child abuse materials. In what appears to be an effort to resolve the matter out of court, Binance has opted for a plea bargain with US authorities. 

Under the terms of that agreement, Binance agreed to pay the US authorities a substantial fine of over $4.3 billion ($1.81 billion for criminal acts and forfeiture of $2.52 billion). Additionally, Binance plead guilty to sponsoring terrorism and involvement in money laundering. As part of the agreement, Binance has committed to operating within the legal framework and implementing monitoring mechanisms, as reported by Reuters on February 24, 2024. 

On February 24, 2013, NPR reported that the US Securities and Exchange Commission and Commodity Futures Trading Commission filed a lawsuit against Binance in court. The lawsuit was based on the absence of regulatory oversight, highlighting Binance’s operation without stringent policing akin to traditional financial institutions, artificially inflating trade volumes, and diversion of customer funds. 

Currently, Binance is engaged in a contentious dispute with the Nigerian government, which has resulted in the government blocking access to the platform. The government reportedly fined Binance a substantial sum of $10 billion, though the circumstances surrounding the fine are controversial. Users can circumvent the block by utilising a VPN, as previously discussed. Therefore, legalising and regulating the platform would be more prudent rather than the Nigerian government potentially losing billions in revenue through the backdoor. 

Given that Binance handles transactions in billions of dollars, I argue that it would be unwise to discard the benefits along with the drawbacks (“throwing a baby with the bath water”). Particularly in light of the high levels of unemployment among youths and the prevailing hardships in the country, many young people have discovered opportunities in the world of Binance. Therefore, rather than outright banning Binance from Nigeria, integrating it into its legal framework may yield better outcomes. 

As a short-term solution, Binance should be permitted to continue its operations in Nigeria under stringent control mechanisms established within the country’s legal framework, with critical oversight from entities such as the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), and other relevant authorities. 

For a long-term strategy, the CBN and EFCC, in collaboration with the Cybersecurity Department of the Federal University of Technology, Minna, should undertake high-impact research to be sponsored by the CBN and EFCC to develop a robust framework for regulating cryptocurrency operations in Nigeria. This framework should balance Nigeria’s legal system and economic growth objectives. 

Emphasising research and development is a globally recognised best practice for addressing societal challenges instead of relying solely on inter-ministerial committees, which may lack the necessary technical expertise, resources and research skills. 

Haruna Chiroma, Ph.D. Artificial Intelligence, wrote from the University of Hafr Al Batin, Saudi Arabia, via freedonchi@yahoo.com.