News on the Go: 5 things that should matter to you today

• FG sues Binance with fresh $81.5bn suit over economic losses, tax
• LG autonomy: CBN, 774 chairmen differ over councils’ account opening
• ‘I might not make it this time,’ Pope Francis confides in aides

We have highlighted the five most important developments in the news today, Thursday, February 20, and present them below.

5 issues in the news that should matter to you today

1. FG sues Binance with fresh $81.5bn suit over economic losses, tax: The Federal Government has approached the Federal High Court in Abuja to compel the cryptocurrency exchange company, Binance Holdings Limited, to pay $79.51 billion and ₦231 million for alleged economic losses caused by its operations in Nigeria.

In the lawsuit, Binance and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, are accused of contravening Nigerian laws, including failing to register with the Federal Inland Revenue Service for tax compliance and allegedly causing economic losses to the country during the review period.

2. FG bans 60,000 litres petrol tankers from March 1: The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has banned 60,000 litres of petroleum tankers from operating on Nigerian roads, effective March 1, to mitigate truck-in-transit incidents.

Mr Ahmed Farouk, Authority Chief Executive, NMDPRA, announced the ban on Wednesday, February 19, in Abuja, while briefing newsmen shortly after its Stakeholders Technical Committee Meeting.

3. LG autonomy: CBN, 774 chairmen differ over councils’ account opening: The Central Bank of Nigeria has commenced profiling the chairmen and signatories to the bank accounts of the 774 local government areas in the country, as part of processes to commence local government autonomy.

The Director of Legal Services at the CBN, Kofo Salam-Alada, explained that this was necessary to ensure financial accountability.

However, the Association of Local Governments of Nigeria said it had received no communication from the apex bank concerning the opening of bank accounts.

4. Power generation hits 5,543MW as govt reveals new plans: The Federal Government has revealed that it is interested in moving most electricity consumers in Nigeria to Band A, where they will enjoy a minimum of 20 hours of electricity supply daily.

The development was disclosed on Wednesday, February 19, as the Transmission Company of Nigeria announced a major milestone in the nation’s power sector, revealing that Nigeria has achieved a new peak power generation of 5,543.20 megawatts.

5. ‘I might not make it this time,’ Pope Francis confides in aides: On Wednesday, February 19, Pope Francis, 88, reportedly confided in his aides that he fears he “might not make it this time” as he struggles with double-lung pneumonia.

The Pope is currently receiving treatment at Rome’s Gemelli Hospital, where he was admitted on February 14 after battling bronchitis for a week.