Federal government of Nigeria

2023 - 2 - 7

Post cover
Image courtesy of "THISDAY Newspapers"

CBN: Propriety of Taking Directives from the Federal Government (THISDAY Newspapers)

In the Supreme Court of Nigeria. Holden at Abuja. On Friday, the 2nd day of December, 2022. Before Their Lordships. 2. Mr. Chimezie C. Ahaneku.

Min. Fed. Their Lordships, therefore, unanimously endorsed the decisions of the lower courts, that the rationalisation exercise by the 1st Respondent was appropriate. Nonetheless, Section 40 of the Central Bank Act 1990 provides that the CBN can act generally as agent for the Federal Government, State Governments, or Local Governments; thus, the CBN can take directives from the Federal Government and implement same in accordance with its enabling statute and regulations, on such terms and conditions as may be agreed, so long as the terms and conditions are consistent with the provisions of the Act, its duties and functions as a Bank. More so, upon their rationalisation, the Appellants were paid salaries in lieu of termination as stated in the Staff Manual, thus, making their relationship that of master and servant. Arguing the appeal, counsel for the Appellants contended that the rationalisation exercise carried out by the 1st Respondent on the Appellants in execution of the specific directives of the 2nd Respondent, was in violation of the relationship between the Appellants and the 1st Respondent. The Appellants submitted four issues for determination of the appeal, while the 1st Respondent raised two issues for determination by the court. The Appellants obtained the leave of court and further appealed to the Apex Court via an amended Notice of Appeal filed on 4th August, 2014. The suit was heard and determined by the trial court, where the action filed by the Appellants was dismissed. They also sought an order nullifying the purported rationalisation exercise conducted by the 1st Respondent, as well as an order reinstating them immediately to their respective posts without loss of seniority or benefits. The Appellants’ contention was that the rationalisation exercise carried out by the 1st Respondent did not comply with the Central Bank of Nigeria Staff Manual (the “Staff Manual”). Mr.

Post cover
Image courtesy of "CHANNELS TELEVISION"

Kaduna, Kogi, Zamfara Govts Drag FG To Supreme Court Over ... (CHANNELS TELEVISION)

They urged the apex court to grant them an interim injunction stopping the Federal Government and the CBN from ending the validity of old N200, N500 and N1000 ...

I also understand that the Federal Government cannot bar Nigerians from redeeming their old naira notes at any time, even though the senior notes are no longer legal tender. The Central Bank shall at all times redeem its bank notes. They are also asking the court to make a declaration that the three-month notice given by the Federal Government of Nigeria through the Central Bank of Nigeria under the directive of the President of the Federal Republic of Nigeria, the expiration of which will render the old Banknotes inadmissible as legal tender, is in gross violation of the provisions of Section 20(3) of the Central Bank of Nigeria Act 2007 which specifies that Reasonable Notice must be given before such a policy.

Post cover
Image courtesy of "Premium Times"

UPDATED: Three APC states sue federal govt over scarcity of new ... (Premium Times)

Three state governments, Kaduna, Kogi and Zamfara, have sued the federal government at the Supreme Court over the hardship occasioned by the scarcity of the ...

will continue to go through a lot of hardship and would ultimately suffer great losses as a result of the insufficient.” While noting that “vast quantity of official worktime is spent looking for the scarce notes and hunger stalks the entire landscapes of Kaduna, Kogi and Zamfara States. has been well acknowledged even by the Federal Government of Nigeria.” Good journalism costs a lot of money. The three states are in northern Nigeria of which President Muhammadu Buhari’s home state, Katsina State, is a part. He added that money deposit banks would continue to receive the old banknotes even after the deadline.

Post cover
Image courtesy of "Leadership Newspaper"

Kaduna, Kogi, Zamfara Drag Federal Govt To Supreme Court Over ... (Leadership Newspaper)

The governments of Kaduna, Kogi and Zamfara States have dragged the Central Bank of Nigeria (CBN) before the Supreme Court over Naira redesign policy.

I also understand that the Federal Government cannot bar Nigerians from redeeming their old naira notes at any time, even though the senior notes are no longer legal tender. The Central Bank shall at all times redeem its bank notes. “That the majority of the indigenes of the Plaintiffs’ states who reside in the rural areas have been unable to exchange or deposit their old naira notes as there are no banks in the rural areas where the majority of the population of the states reside. Dikko also pointed out that the Federal Government has embarked on the policy within a narrow and unworkable time frame, and this has adversely affected Nigerian citizens within Kaduna, Kogi and Zamfara States as well as their Governments, especially as the newly redesigned naira notes are not available for use by the people as well as the State Governments. The states are seeking a declaration that the Demonetization Policy of the Federation being currently carried out by the Central Bank of Nigeria under the directive of the President of the Federal Republic of Nigeria is not in compliance with the extant provisions of the Constitution of the Federal Republic of Nigeria 1999 (as amended), Central Bank of Nigeria Act, 2007 and actual laws on the subject. They are also asking the court to make a declaration that the three-month notice given by the Federal Government of Nigeria through the Central Bank of Nigeria under the directive of the President of the Federal Republic of Nigeria, the expiration of which will render the old Banknotes inadmissible as legal tender, is in gross violation of the provisions of Section 20(3) of the Central Bank of Nigeria Act 2007 which specifies that Reasonable Notice must be given before such a policy.

Post cover
Image courtesy of "Businessday.ng"

The quest for unity in Nigeria and the role of unity schools (Businessday.ng)

I am delighted to join you today in celebrating the 50th anniversary of this great institution, the Federal Government College, Kaduna.

Disunity stares us in the face and many of our leaders are more concerned about their selfish interests than the survival and health of our nation. The last decade has reversed many of the economic gains that were made in the first decade of the century. Political parties and politicians have now been emboldened to discard some of the things that were put in place to give all groups a sense of belonging. The divisive nature of the events leading to the war and indeed the war itself caused the Yakubu Gowon military government to declare that “the job of keeping Nigeria one is a task that must be done.” This objective of achieving national unity or unity of purpose became a major pillar of all post-war polices. Appointments in government are skewed and lopsided on basis of nepotism and mediocrity and disregard of merit and competence. Indeed unity today is our greatest concern and it is the duty of everyone of us to work to strengthen it.” By de facto inequality, I mean the acceptance of the obvious fact that not all the Regions, Provinces, and Local authorities are equal either in their area or population or natural resources or financial means. Nnamdi Azikiwe, opined that “the theory and practice of federalism need some reorientation in order to make the federal system adaptable and workable to people who live in underdeveloped economies.” By de jure equality I mean that every Province and every Local Authority in each Region in the Federal Republic of Nigeria are legally equal to the extent that it becomes a categorical imperative for the Federal Government to provide each of them, on a clearly defined basis, with the basic necessities and amenities of modern life in their respective areas of authority irrespective of the federal nature of our country. The biblical story of the Tower of Babel is a strong illustration of the consequences of disharmony and disunity. Let me quote Alhaji Tafawa Balewa from a speech he gave when he addressed the Nigerian House of Representatives in 1957 on the day the motion for Independence was passed. Let me also congratulate the products of this School, especially the alumni who have put this event together, for their outstanding display of commitment and comradery.

Explore the last week