Author: Lawbreed Limited

The supreme court has invalidated the naira redesign policy introduced by the Central Bank of Nigeria (CBN). The court made the declaration on Friday while delivering judgment in a suit instituted by three states of the federation. A seven-member panel of the apex court held that the old N200, N500 and N1000 notes remain legal tender until December 31, 2023. They supreme court faulted the entire policy of the CBN, saying the timing and implementation were defective. In October 2022, Godwin Emefiele, CBN governor, announced the plan to redesign the naira to control money supply and aid security agencies in…

A judge in the Ekiti State High Court, Justice Babajide Aladejana, has been reinstated to office 16 years after he was suspended by the National Judicial Council, NJC. The NJC, under the chairmanship of the former Chief Justice of Nigeria, CJN, Justice Alfa Belgore, suspended Aladejana from office in 2006 alongside the state former Chief Judge, Justice Kayode Bamisile, for their alleged roles in the political crisis that led to the impeachment of ex-Governor Ayodele Fayose. Fayose was impeached from office on October 16, 2006 over the alleged N1.4 billion poultry scandal, abuse of office and illegal operation of a…

A 23-year-old man, Ezekiel Olamilekan, on Wednesday, appeared before an Ikeja Magistrates’ Court for allegedly damaging the full front glass of United Bank for Africa (UBA), Mulero, Dopemu branch, Lagos State. Olamilekan, with others still at large, is facing a two-count charge bordering on conspiracy and malicious damage. He, however, pleaded not guilty to the charges. The police prosecutor, Insp. Olusegun Kokoye told the court that the defendant along with others at large, maliciously damaged the full front glass of UBA Bank, Mulero branch. Kokoye said that the value of the said property was yet to be ascertained. He said…

The Akwa Ibom State High Court sitting in Okoita, Ibiono Ibom local government, has sentenced a Prophet, Anwana Peter Essien, to 21 years in prison for allegedly raping his 10 year-old step daughter. Lawbreed Blog Learnt that the 37 year-old prophet was said to have raped his Junior Secondary School one step daughter on August 9, 2019. He reportedly had carnal knowledge of the victim when she stayed in his house at Itiam Street, Uyo, during the holiday. The convict, an indigene of Afaha Ise in Ibiono Ibom, had confessed during his evidence that a demon ‘pushed’ him in the…

The President, Major General Muhammadu Buhari (retd), and president-elect, Bola Tinubu, on Wednesday, asked the Peoples Democratic Party and Labour Party not to resort to violence but approach the court to seek redress over their claims that Saturday’s presidential election was marred by rigging. The opposition parties had during the collation of results called for the cancellation of the election and also asked the Independent National Electoral Commission Chairman, Mahmood Yakubu, to step down from his position over claims that the election was rigged in favour of the ruling party. But reacting to the claims in a statement on Wednesday,…

A magistrate court sitting in Kano has remanded Alhassan Doguwa, majority leader of the house of representatives, in prison. Doguwa was charged to court on Wednesday over alleged criminal conspiracy, culpable homicide, unlawful possession of a firearm, mischief, and public disturbance. Ibrahim Mansur Yola, the magistrate, remanded the federal lawmaker till March 7, 2023, for a hearing of the bail application. The prosecutor, Aisha Salisu, told the court that Doguwa and one Bashir Dahiru committed the offence on February 26, at Tudun Wada local Government area of Kano. Salisu said the lawmaker used a gun and shot one Ibrahim Dauda…

The Independent National Electoral Commission has declared the All Progressives Congress presidential candidate, Bola Tinubu, as the president-elect. Tinubu, a former Lagos State governor, was declared the president-elect after the 70-year-old polled 8,794,726 votes to win the 2023 presidential election. The INEC Chairman, Professor Mahmood Yakubu, announced Tinubu as the winner at the International Collation Centre in Abuja during the early hours of Wednesday. Tinubu won the election ahead of other contenders — the Peoples Democratic Party candidate, Atiku Abubakar; the Labour Party candidate, Peter Obi; and the New Nigeria Peoples Party candidate, Rabiu Kwankwaso. The three leading presidential candidates…

The United States Government has announced that it will increase visitor visa validity from 24 months to 60 months for Nigerians. It said that the new visa regime starts from March 1, 2023, adding that it would apply to Nigerians who want to enter the United States temporarily for business and/or tourism. The visa validity extension allows Nigerians to use the visa for 60 months to make short trips to the United States for tourism or business purposes before having to renew their visa. The visa application fee, currently USD160, will not increase as a result of the increased visa…

The rule says bank executive directors (EDs), deputy managing directors (DMDs), managing directors (MDs), and non-executive directors (NEDs) can only serve a cumulative tenure of 20 years across the banking industry. The directive is contained in a circular addressed to all deposit money banks (DMBs), signed by Chibuzor Efobi, director of financial policy and regulation department, CBN, and seen by TheCable. The circular was a revision of the regulatory requirements for the tenure of executive management and non-executive directors of DMBs and financial holding companies in the Code of Corporate Governance for Banks and Discount Houses. CBN said the tenure…

The Independent National Electoral Commission (INEC) has assured that the results of Saturday’s presidential and National Assembly elections will be declared as quickly as possible. INEC Chairman, Prof. Mahmood Yakubu, said this at his media briefing in Abuja on Friday. Daily Trust reports that the 2019 presidential elections result was formally declared after two days of the elections. But Yakubu said the commission will speed up the process this year. “I just want to say that we will ensure that it (result declaration) will be done speedily. I can’t put a finger on the number of days or number of…