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Philip Hammond adds cryptocurrency role to post-Treasury jobs list

Philip Hammond

Philip Hammond adds cryptocurrency role to post-Treasury jobs list

The former chancellor Philip Hammond has added another job to the dozen or so he has taken on since leaving the Treasury in 2019, this time as an adviser to a Mayfair-based cryptocurrency trading firm.

Lord Hammond, who also served as foreign secretary and was an early supporter of bitcoin and other digital currencies, joined Copper.co with immediate effect on Monday.

The former chancellor, who was said to be one of the wealthiest ever cabinet ministers with a fortune once estimated at £8.2m, has taken up as many as 14 paid and unpaid jobs since leaving politics after a bust-up with Boris Johnson over Brexit.

Hammond was last month criticised by Westminster’s lobbying watchdog for using his government connections to assist OakNorth, a bank he is paid to advise.

Eric Pickles, a former cabinet colleague who chairs the Advisory Committee on Business Appointments (Acoba), said it was an unwise step for Hammond to contact a senior Treasury official about a project developed by OakNorth.

Lord Pickles said Hammond’s use of his contacts in government was not consistent with the intention of the rules and was not acceptable because of “the privileged access you obtained for OakNorth”.

Hammond, who also served as defence secretary, was later cleared of breaching lobbying rules after an investigation by the Office of the Registrar of Consultant Lobbyists (ORCL), an independent body that monitors lobbying activities of former ministers and senior civil servants.

ORCL accepted Hammond’s argument that, since lobbying was not his main activity, there was no need for him to register as a lobbyist working on behalf of a third party.

Copper said Hammond would focus on “promoting the UK as a global leader in digital asset technology”. The firm, which was founded in 2018, recently announced plans to expand into the US and Asia and secured $75m (£55m) of investment from the British billionaire hedge fund manager Alan Howard and the venture capital firms Dawn Capital and Target Global.

Hammond said Copper was a “true pioneer” of crypto and digital asset investment technology. “But the really exciting opportunity lies in the application of this technology to revolutionise the way financial services are delivered,” he said. “If we can bring together the best of Britain – entrepreneurs, industry, government, and regulators – to create and enable a blockchain-based ecosystem for financial services, we will secure the UK’s global leadership in this field for decades ahead.”

Dmitry Tokarev, the chief executive of Copper, said: “We would like to drive growth in our client base within a regulatory framework which will allow us to thrive globally from our London headquarters. With Lord Hammond’s expertise adding to the strength of our team, we look forward to growing Copper and further enhancing the UK’s digital asset technology offering.”

As chancellor, Hammond had called for light-touch regulations for cryptocurrencies. “I am interested in bitcoin. The Bank of England, as you know, among the central banks, has been leading on looking at bitcoin,” he said in 2018. “What is really important is that in regulating cryptocurrencies, we don’t inadvertently constrain the potential of the technology that underlies it, the blockchain technology, which has a wider and more important application.”

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Cleric backs Zulum’s alcohol ban

The Chief Imam of Maiduguri International Airport, Muhammad Ibrahim Adam, has commended the Governor of Borno State, Babagana Zulum, for the recent ban on the sale of alcohol, while urging the state to consider establishing Hisbah to enforce the ban.

In a statement released on Sunday, the State Directorate of Information, Ministry of Information and Internal Security, said the cleric described the decision as timely and commendable in preserving the spiritual and moral fabric of society.

“The Imam called on the government to consider the establishment of Hisbah, a moral enforcement body in the state, to help enforce Islamic principles and curb immoral practices,” the statement read.

It was stated that the Imam concluded with prayers for continued peace, unity, and development in Borno State and across Nigeria.

“The consumption of alcohol and other intoxicants is an act prohibited by all religions, as they open doors to all sorts of immoral and criminal behaviours in society,” it added.

Recalled that Zulum made the alcohol ban announcement on Tuesday at the inauguration of a reconstituted committee on “revocation of illegal hotels, brothels, shanties, and criminal hideouts and curbing the menace of antisocial vices” at the council chambers of the Government House in Maiduguri, the state capital.

The governor, during the meeting, said the ban on the sale and consumption of liquor and alcoholic content stems from the rising cases of clashes among rival groups, cultism, prostitution, drug abuse, thuggery, and theft, which have led to the loss of lives and valuables.

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Court orders EFCC to return $20,000 bribe money collected by its officers to lawful owner

The Ikeja Special Offences Court sitting in Lagos has ruled that the bribe money demanded and collected by operatives of the Economic And Financial Crimes Commission (EFCC) in 2019 be released to the owner, Mr Olalekan Abdul.
Justice Mojisola Dada (Mrs) gave the orders on April 30, 2025.
A certified true copy of the ruling reads:- An Order granting delivery and/or restoration to the Defendant of the sum of $20,000:00 (Twenty Thousand United States Dollars) property of the Defendant (Olalekan Abdul) tendered and admitted as Exhibit B at the trial proceeding of 8/3/2023 and ordered to be held and kept in escrow Domiciliary Account in Polaris Bank, Ikeja in the name of the Chief Registrar of the High Court of Lagos State in pending completion of this case (now – concluded) be and is hereby granted.
In the same vein, the court also granted the leave as follows “That an Order lifting the lien on and directing the release to the Defendant (Olalekan Abdul) of the sum of N10,000,000:00 (Ten Million Naira only) held in Defendant’s Surety’s Mrs. Jemilat
Oluremi Yusuf – Sada’s Access Bank Account No. 1374520332 as condition for Defendant’s bail (as per the Ruling of this Honourable Court dated 31″ day of January 2020) pending completion of his trial on the charge. In this matter (now concluded) be and i s hereby
granted.

Recall that the same court had on March 5, 2025 discharged and acquitted the Chairman of Cleanserve, Azubuike Ishiekwene, and the Managing Director/CEO Olalekan Abdul of the case of fraud and forgery made against them by a nominal complainant.

The Economic and Financial Crimes Commission (EFCC) had initially arraigned the defendants on a 26-count charge bordering on conspiracy, forgery, using false documents without authority, possessing fraudulent documents, stealing and making documents without authority.
The Commission was acting at the behest of a nominal complainant, a certain Mr. Chris Ndulue, who claimed he was a director in the private company but was not in the file of the Corporate Affairs Commission and had no valid proxy.
Ishiekwene and Abdul, however, pleaded not guilty to the charge following their arraignment on January 30, 2020.
During the pendency of the charge, which started five years ago with suit number ID/11126C/2019, the prosecution had called nine witnesses, while the defence had called four witnesses.
Mr. Adeyinka Olumide-Fusika (SAN) appeared for the first defendant, Abdul, and Dr. Muiz Banire (SAN) appeared for Ishiekwene, the second defendant.

Following a series of applications, one of which challenged the EFCC’s use of a fiat by Lagos State in a case in which the defence counsel argued that a $20,000 bribe had compromised an operative and that the prosecution was on a mission of “persecution,” the office of the Attorney-General of Lagos State, Mr. Lawal Pedro (SAN), stepped in and took over the matter after a review.
Before the Lagos State AG stepped in, the court had ordered the recovery of the $20,000 from the custody of the EFCC and admitted the same as an exhibit.
During the investigation, an EFCC operative demanded a bribe in 2019 to “kill the matter” because, according to him, the facts suggested that Ndulue had no case.
A report of the demand was made through Mr. Ola Olukoyede (then the Secretary of the Commission), who ordered a sting operation in Lagos, during which other EFCC operatives apprehended the operative.
When the report reached the then-chairman of the EFCC, Mr. Ibrahim Magu, he squashed it, redeployed the operative who had demanded a bribe, and turned the case against the defendants who had reported the operative.

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Two trucks collide, crush dispatch riders on Eko Bridge

Two dispatch riders lost their lives following a crash involving two fully loaded Mack trucks, with registration numbers; T-10357 LA, and KJA 107 XM.

The Lagos State Traffic Management Authority (LASTMA), General Manager, Mr Olalekan Bakare-Oki, said this in a statement on Sunday.

The statement was signed by Mr Taofiq Adebayo, Director, Public Affairs and Enlightenment Department of LASTMA .

Bakare-Oki noted that the accident occurred Sunday morning on the Eko Bridge, inward Alaka corridor.

“Preliminary findings suggest that the driver of one of the articulated trucks, reportedly driving at an excessive speed while allegedly dozing off, lost control of the vehicle.

“The truck then careened into another moving trucks ahead of it, triggering a violent impact.

“This collision led to the dislodgement of a 20-foot container from one of the trucks, which subsequently crushed two unsuspecting dispatch riders who were navigating the route at the time.

“Both victims were confirmed dead at the scene,” he said.

He added that the swift and coordinated response from LASTMA officers, who were on routine traffic monitoring duty beneath the Eko Bridge, ensured the immediate rescue of one severely injured truck driver.

He said the driver was promptly transported to a nearby hospital in a Lagos State Government ambulance for urgent medical attention.

He, added that however, the remaining two truck drivers absconded from the scene, presumably out of fear of the grim aftermath.

“Investigations are currently underway to trace and apprehend the fleeing drivers involved in the fatal crash.

“To forestall further incidents and safeguard other road users, LASTMA personnel immediately cordoned off the affected stretch of the bridge and redirected vehicular traffic through the Coastain Roundabout inward Alaka en route to Stadium,” he said.

Bakare-Oki consoled the bereaved families, while expressing deep sorrow over the loss of innocent lives.

He reiterated the critical importance of responsible driving, particularly for operators of articulated vehicles.

The LASTMA boss urged all drivers to exercise utmost caution, maintain full alertness, and ensure their vehicles are roadworthy before commencing any journey.

Bakare-Oki further emphasised the agency’s ongoing, robust public enlightenment campaigns aimed at instilling safety consciousness among drivers, especially those operating heavy-duty vehicles.

Other emergency responders at the scene of the accident includes: Lagos State Emergency Management Agency (LASEMA), Lagos State Fire and Rescue Services, Lagos Neighbourhood Safety Corps (LSNSC), State Environmental Health Monitoring Unit (SEHMU) and Police man from Iporin Division of the State.

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