Author: Lawbreed Limited

Ondo State Government has filed a suit before the Supreme Court of Nigeria, Abuja against the Federal Government in respect of the directive issued through the Central Bank of Nigeria limiting daily cash withdrawals from banks. In an originating summon filed and signed by the Attorney General of Ondo State, Sir Charles Titiloye Ksm FCArb, on Thursday, Ondo state Government is praying the Supreme Court to stop the implementation of the directive issued by the Federal Government through the Central Bank of Nigeria on limitation of daily cash withdrawals from banks which has totally paralysed and brought to a standstill…

The Federal Inland Revenue Service and the Lagos State Government on Monday signed a Memorandum of Understanding to create a joint tax audit system. Lagos State Governor, Babajide Sanwo-Olu noted that the plan is to address duplication of measures and enable the exchange of data that are relevant to the enforcement of extant tax laws. Sanwo-Olu said the signing of the MoU is necessary for the unity of both parties. “The MoU is in the best interest of the public, as it affirms the reason why we need to come together and strengthen the cordial working relationship between the two…

Supply constraint arising from the limited capacity to print enough new Naira notes is responsible for the severe cash crunch hurting Nigerians, CBN Governor Godwin Emefiele admitted amid the disappointing naira swap policy of the Buhari administration. Mr Emefiele made the disclosure on Friday when he briefed the emergency meeting of the National Council of State, sources who attended the meeting told PREMIUM TIMES. President Muhammadu Buhari convened the meeting as threats of social instability rise following the shortage of Naira. Violent protests have been recorded in parts of the country, including in Ogun, Oyo and Akwa Ibom in the…

Background Issue 1 Stanbic IBTC Bank Plc (“Stanbic” or the “Bank”) set up a reward scheme (the “Programme”) for exceptional employees. The Programme entailed subsidising the interest on mortgage loans taken by qualifying employees. The Programme was designed to enhance staff performance and boost profitability; as such, the costs were recognised as staff costs in the Bank’s books. The FIRS audited the Bank’s 2016 and 2017 records and disallowed expenses relating to the Programme, resulting in a liability of about N360m for the period. Issue 2 In 2017, the Bank incurred legal expenses in respect of a Court of Appeal…

Former deputy president of the Senate, Ike Ekweremadu, has denied offering money to a prospective kidney donor to save his sick daughter, Sonia. The lawmaker, his wife, Beatrice, and their 25-year-old daughter are on trial in London for allegedly trafficking a young man from Nigeria to serve as kidney donor. The Ekweremadus were alleged to have offered £7,000 to the 21-year-old trader whom they flew to London and falsely presented as Sonia’s cousin so as to obtain his kidney. According to Daily Mail, in his opening addresses at the Old Bailey on Wednesday, lawyers for the defendant, Martin Hicks, insisted…

A Federal High Court sitting in Port Harcourt has granted an order restraining the Rivers State Government, led by Governor Nyesom Wike; the Department of State Services, DSS; and the Nigeria Police Force, NPF; from arresting and intimidating members of the Atiku Campaign Council in the State. Justice A.T Ibrahim issued the order against the DSS and the police following a motion ex parte filed by leaders of the Rivers State Atiku/Okowa Campaign Council. The Council Spokesperson, Dr Leloonu Nwibubasa, on Wednesday, noted that Atiku Abubakar’s supporters are now protected by the court order after some of them were arraigned…

The Kano state Government has prayed for a mandatory order seeking for reversal of the Federal Government policy to recall the N200, N500 and N1,000 notes from circulation saying the policy is affecting the economic well-being of the over 20 million citizens Kano State. The state prayed for, among others, “a mandatory order to compel the FGN to reverse the Naira redesign policy for failure to comply with 1999 (as amended) constitution of the FRN. The originating summons seen by Loyal Nigerian Lawyer reporter was filed by Mr Sunusi Musa, SAN of Aliyu & Musa Legal Practitioners and Consultants, Kano.…

The police have filed an appeal against the judgement reinstating some police officers after they were retired. The aggrieved police officers had recently demanded the removal of the Inspector-General of Police (IGP), Usman Baba, and his committal to prison for disobeying the April 19, 2022 judgement of the National Industrial Court which ordered their reinstatement. But the Force Public Relations Officer, CSP Muyiwa Adejobi, on Thursday described the call for the sack and imprisonment of the IGP as baseless and mischievous. He said the appeal number NICN/AB/21M/2023 was filed on February 8. Adejobi said, “For the records, the said retired…

Abubakar Malami, attorney-general of the federation says the federal government would obey the supreme court order restraining the Central Bank of Nigeria (CBN) from banning the use of the old naira notes from February 10. A seven-member panel of the apex court led by John Okoro, made the ruling on Wednesday in an ex parte application brought by three states: Kaduna, Kogi, and Zamfara. The AGF has also filed a preliminary objection challenging the jurisdiction of the court to entertain the suit. But in an interview with Arise TV on Wednesday, Malami said the federal government would obey the order…

The Independent National Electoral Commission (INEC) says it will not accept the nomination of university lecturers who have participated in partisan politics or were convicted of electoral malpractice as returning and state collation officers in the coming polls. Mahmood Yakubu, INEC chairman, spoke in Abuja at a meeting with vice-chancellors of universities. Yakubu said the collation of election results would take place in 8,809 registration areas in 774 LGAs in the country. “Put together, we will engage 23,258 personnel as collation and returning officers. It is for this reason that this meeting is crucial,” he said. “We need the support…