Author: Lawbreed Limited

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…

The Federal Government has directed the full implementation of a new visa reciprocity policy for United States of American (USA) citizens with effect from March 1, 2023. The Minister of Interior, Rauf Aregbesola, said the directive was issued following approval for the implementation of the new Bilateral Consular Policy Agreements between the two governments. Recall that President Muhammadu Buhari launched the new Nigeria Visa Policy in 2020. He added that the policy amongst other things seeks to promote tourism and boost cultural exchange and business between both nations. According to a statement by his media adviser, Sola Fasure, on Friday,…

The supreme court says it will deliver judgment in the suit challenging the naira redesign policy of the Central Bank of Nigeria (CBN) on March 3. The seven-member panel of the apex court communicated the decision on Wednesday. The governors of the All Progressives Congress (APC) had argued that the policy was aimed at making the ruling party unpopular ahead of the elections. Given the adjournment of the supreme court, the judgment can only be delivered after the presidential election billed for Saturday, February 25. Six more states — Rivers, Kano, Niger, Jigawa, Nasarawa, and Abia — joined the suit…

Ahead of the Presidential and National Assembly elections on Saturday, February 25, the Federal High Court of Nigeria will suspend operations across the country for five days starting on Wednesday, February 22. Ahead of the elections, Judge John Tsoho, the Court’s Chief Justice, permitted justices to continue deliberating without interruption until the end of working hours on Wednesday. After the five days break, the Federal High Court is expected to resume across the country on February 28, three days after the election. The break, according to a statement from the court, will enable the judges to cast their votes at…

Justice Monica Bolna’an Dongban-Mensem of the Appeal Court has constituted the 2023 governorship, national and state houses of assembly Election Petition Tribunals for Rivers State. In a statement made available to BarristerNG by Umar Abubakar, Esq., he stated that the constitution of tribunals is the fulfillment of the provision of Section 285 (2) and (3) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and Section 131 (1) of the Electoral Act, 2022 (as amended). The Tribunals would hear and determine Election Petition(s) that may arise from the upcoming 2023 general elections in Rivers State. Part of…

The Bishop of the Catholic Diocese of Sokoto, Matthew Hassan-Kukah said no Ngerian President or Head of State was ever prepared for the job of leaning the country in the 62-year history of Nigeria, spanning democratic and military governments. Kukah made this assertion in an interview on Channels Television’s Roadmap 2023 on during the weekend. He said, “You can go all the way down in Nigeria, you’re not going to find one single person who has been president or head of state in Nigeria that came prepared for the job.” According to Kukah, since attaining independence on October 1, 1960,…

The Corporate Affairs Commission (CAC) says applications yet to be processed for more than 2 months will be tagged ‘abandoned’ and deleted. In a statement on Friday, the commission many applications have been abandoned, creating a burden on its database. It urged applicants who have their files abandoned to have them resolved or present queries on the registration portal. “It has been observed that a sizeable number of applications have been filed and abandoned on the CRP (companies registration portal) as a result of queries that have not been resolved,” the statement reads. “This is creating a burden on our…

The Presidency Friday said there was no truth to the claim that President Muhammadu Buhari was working towards the truncation of democracy through the installation of an interim government. The Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, said this in a statement titled “Stop the Joke about Interim Government, Elections Will Hold.” While Governor Umar Ganduje of Kano State had alleged that the naira redesign policy of President Buhari was aimed at truncating Nigeria’s democracy, his counterpart in Kaduna State, Nasir El-Rufai, claimed the scarcity of naira notes was a part of the plots…

The United Nations office in Nigeria has outlined a number of concerns in the build-up to Nigeria’s general elections on 25 February and 11 March. Nigeria will hold presidential and federal legislative elections on 25 February while state elections will be held on 11 March. UN Resident and Humanitarian Coordinator in Nigeria, Matthias Schmale, shared the global body’s concerns in an exclusive interview with PREMIUM TIMES. “We are concerned about elections being postponed due to violence,” he said, speaking about the major concern of the global organisation. It is not just violence in the North-east, Mr Schmale pointed out, it…