According to famed decentralized finance (DeFi) detective Zachxbt, 31 nonfungible token (NFT) projects may be at risk due to “suspicious code.” In a lengthy Twitter thread published Tuesday, the DeFi detective first raised the issue of NFT project Thestarlab, which was allegedly compromised for 197.175 Ether (ETH), worth $580,325 at the time of publication. Zachxbt quoted fellow blockchain investigator MouseDev, who came to the following conclusion after reviewing the code behind Thestarlab: “The smart contract [for this project] can never truly be renounced or transferred—only an additional owner. The original deployer will always be considered the owner. This means if they still have the private key of the deployer, they can pull the money, even though...
A bill seeking to prohibit bank employees from operating foreign accounts has passed second reading at the house of representatives. The bank employees’ declaration of assets act amendment bill also seeks to mandate the bankers to declare assets of their spouses and children less than 18 years old. The Economic and Financial Crimes Commission (EFCC) had in March ordered those in the banking sector to declare their assets in accordance with the act, raising questions as to the legality of such directive. Newsmen reported that the bank employees’ declaration of assets act requires bank board members, managing director, general managers, clerks, cashiers, messengers, cleaners, drivers, and any other category of workers — whether part‐time, casual or temporary — to declare their assets. Leadin...
Human rights activist, Mr Femi Falana (SAN), members of civil society groups and others have called on anti-graft agencies to beam their searchlight on professional bodies in the country if the fight against corruption must be successful. Falana and others are of the opinion that until members of professional bodies who are found to have aided crimes and criminality are sanctioned, corruption will continue to be on the rise. Falana, Chairman, Human and Environmental Development Agenda (HEDA), Olarenwaju Suraj, and Executive Secretary, Presidential Advisory Committee against Corruption (PACAC), Mr Sadiq Radda, argued that professionals such as lawyers, accountants, bankers etc should be made to face the same punishment alongside their criminal clients. They made the suggestions on Wednesday...
Human rights lawyer, Femi Falana, says the fine imposed on Channels Television by the National Broadcasting Commission (NBC) is illegal. He said the agency should publicly apologise and refund the fine — if it has already been paid. The TV station was sanctioned for interviewing the spokesperson of the proscribed Indigenous People of Biafra (IPOB). Inspiration FM was also ordered to pay a fine of N5 million for airing a broadcast of IPOB wherein “secessionist claims” were allegedly made. Speaking in Lagos on Thursday at the launch of a report by the Socio-Economic Rights and Accountability Project (SERAP), Falana said NBC did not allow for fair hearing, as stipulated in the broadcasting act. He said the agency didn’t comply with the provisions of law, adding that the amendment code under w...
NBC fines Channels TV, inspiration FM N5 million each for broadcast code infractions
The National Broadcasting Commission (NBC) has directed Channels TV and Inspiration FM Lagos to pay a fine N5 million each for infractions of the Nigeria Broadcasting Code. Prof. Armstrong Idachaba, the Acting Director-General of the commission, announced this in a statement made available to newsmen on Thursday in Abuja. Idachaba explained that NBC on Monday, April 26, served Channels TV a letter indicating the station’s culpability and liability for infractions of the Code in respect to its broadcast of “Politics Today” of Sunday, April 25. The acting D-G stated that the station violated Sections 3.11.1(b) and 5.4.3 of the Nigeria Broadcasting Code. Similarly, Idachaba said that on May 2, in its World Report, Inspiration FM Lagos aired broadcast of Indigenous People of Biafra (IPOB) maki...