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New Naira: Ondo Govt Joins Suit Against FG, CBN

Published

3 years ago

February 10, 2023

The Ondo State Government has filed a suit against the Federal Government at the Supreme Court over the Central Bank of Nigeria’s directive on limitation of cash withdrawal from banks.

It was gathered that the government filed a separate application to join the suit instituted earlier by the Zamfara, Kaduna and Kogi States at the apex court on deadline issue by CBN on swapping of old naira notes for the new notes.

The Ondo government asked the apex court to stop the implementation of the policy.

In an originating summon filed and signed by the Attorney-General of the state, Mr. Charles Titiloye, the government prayed the Supreme Court to stop the implementation of the directive issued by the Federal Government through the CBN on limitation of daily cash withdrawals from banks which, it said had totally paralysed the activities of Ondo State and has adversely affected economic and commercial activities in the state.

The statement issued by the Special Assistant to the AG, Kola Adeniyi, said, “The Ondo State Government contended that the guideline on daily maximum cash withdrawal made by Federal Government is an infraction on the legal rights of Ondo State Government and its citizens to access funds for execution of developmental projects, small credit facilities to petty traders (who have no account in banks) and highly detrimental to daily commercial activities in the state.

“Ondo State Government urged the Supreme Court to declare that the Federal Government cannot by directive issued through Central Bank of Nigeria, amend or vary an existing Act of National Assembly particularly Section 2 of Money Laundering Act which relates specifically to limitations on cash withdrawals for individual and Corporate organisation to N5million and N10million respectively. The updated guidelines issued by CBN now places maximum withdrawal for individual and corporate organisation at N500,000 and N5million respectively.

“Ondo State Government is asking the Supreme Court to decide whether the guidelines issued by Federal Government on maximum daily cash withdrawal and the continuous suffering and hardship caused by the implementation of the said policy is not in conflict with the express provision of Section 2 of the Money Laundering Act, Sections 20, 39 and 42 of the Central Bank of Nigeria Act.

“Ondo State Government averred that while it has more than 149 ministries, departments and agencies to run on daily basis in a state with more than three million people, less 500,000 people have bank accounts through which bank transfer can be made. Consequently the policy of the Federal Government has totally paralysed the economy of the state.

“Ondo State Government averred that the citizens of Ondo State now spends precious hours at banks ATM waiting to collect the new naira note while citizens in the rural areas and villages without banks and Internet facilities have been shut out from receiving or transferring money to meet their daily economic needs.”

The government urged the apex court to intervene and stop further implementation of the said Federal Government policy.

Related Topics:#CBN #Ganduje Kano New Naira

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Edo NLC Crisis: Caretaker Committee Drags Rival Exco, Govt To Court

Published

3 hours ago

May 6, 2026

Editor

The division in the Edo State Council of the Nigeria Labour Congress (NLC), took a new dimension on Wednesday as Prof. Monday Monday Lewis Igbafen-led caretaker committee approached the National Industrial Court of Nigeria, Benin Judicial Division, seeking to affirm its authority and restrain a rival executive from parading itself as the council’s leadership.

Joined in the suit are the Edo State Government, the Commissioner for Labour and Productivity, and the Attorney-General and Commissioner for Justice.

In a suit marked: NICN/BEN/12/2026, and filed before the court in Benin, the claimant, Igbafen, acting for himself and on behalf of the NLC Caretaker Committee in Edo State, is challenging the continued occupation of the union’s secretariat and control of its assets by members of the Bernard Egwakhide-led factional State Executive Council.

The claimants are asking the court to declare that the caretaker committee (Igbafen-led faction), constituted on August 11, 2025, by the NLC national leadership, remains the only lawful authority to administer the affairs of the Edo State Council pending fresh elections.

They further seek a declaration that the continued occupation of the NLC secretariat located at No. 1 Teboga Road, Benin City, as well as the retention of union assets, financial records, and official instruments by the defendants, is illegal and void.

The suit also prays for an order of perpetual injunction restraining the defendants from parading themselves as officials of the NLC Edo Council or interfering with the functions of the caretaker committee.

In addition, the claimants are seeking a mandatory order compelling the defendants to immediately hand over the secretariat, vehicles, financial documents, cheque books, and all other properties belonging to the union.

The caretaker committee further urged the court to restrain the state government and its officials from interfering in the internal affairs of the union, alleging undue support for the dissolved executive.

The claimants further demand N50 million as general and exemplary damages against the defendants for alleged unlawful usurpation of office and acts prejudicial to the administration of the council.

According to court documents made available to our correspondent, the crisis followed the dissolution of the Edo State Council by the NLC National Executive Council on February 27, 2025, over allegations of misconduct, anti-union activities, and constitutional violations.

However, the matter has yet to be assigned a hearing date.

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Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

9 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

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Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

9 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.