Connect with us

News

New Naira: Ozekhome Reacts To Buhari’s Broadcast, Order

Published

on

A Senior Advocate of Nigeria, Mike Ozekhome, has said it is wrong for President Muhammadu Buhari to disobey the Supreme Court order on the old naira notes.

The apex court had in an interim order restrained the Federal Government from suspending the acceptance of the old naira notes.

But in a statement on Friday, Ozekhome described the order by the President as a ‘dicta, more in the form of a military Decree’.

Advertisement

The statement partly read, “Buhari, in his broadcast on Thursday, February 16, 2023, unilaterally varied the apex court’s extant order of maintenance of status quo, by directing the CBN Governor to the effect that ‘the old N200 banknotes be released back into circulation…to circulate as legal tender with the new N200, N500 and N1000 bank notes for 60 days…’

READ ALSO: Buhari’s Broadcast Contempt Of Court — Adegboruwa

“The President then issued a dicta, more in the form of a military Decree, that, ‘in line with section 20 (3) of the CBN Act, 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated prints’.

Advertisement

“This order is a clear violation of and disobedience to the existing order of the apex court which had already maintained the status quo ante bellum of all parties involved in the Naira re-design dispute.

“The Supreme Court had on Wednesday, February 15, 2023, after the first interim order, adjourned the suit originally filed by the Attorneys-General of Kano, Kogi and Zamfara states (other interested parties were later joined) to February 22, to enable it hear the entire matter holistically.”

The senior lawyer added that Nigerians expected the president to obey the law, adding that by the disobedience of Buhari, he had exhibited the trait of an Emperor and Overlord.

Advertisement

Ozekhome said, “Every Nigerian had expected that the Federal Government would respect this apex court’s position. But President Buhari demurred. He made himself Supreme Leader; an Emperor; Potentate, Mikado and Overlord.

“Buhari’s broadcast to the nation therefore literally overruled the Supreme Court of the land, in a way and manner only a military tyrant could ever contemplate.

“Buhari’s action is a reminder of the apocryphal saying of autocratic and despotic Emperor Louis XIV, who, on 13th April, 1655, stood in front of Parliament and imperiously declared, ‘L’Etat C’est Moi (I am the State)”. This was to underline the fact that he and he alone, had absolute power over his Nation.’”

Advertisement

Ozekhome said apart from being a direct assault on the apex court, Buhari’s order could lead to chaos and anarchy.

He said, “Buhari’s imperious order was a frontal call to chaos, anarchy and national upheaval. It was a direct assault on the authority of the Supreme Court, the highest court of the land; and also the head of the entire Judiciary, the 3rd arm of government under the doctrine of separation of powers, most ably popularized in 1748 by Baron de Montesque, a great French Philosopher.

“To have whimsically and capriciously varied the order of the Supreme Court was to pick and choose what order to obey or disobey. This breaches the supremacy of the 1999 Constitution provided for in section 1(1) thereof. It also frontally assaults the provisions of section 287(1) of the Constitution which provides that ‘the decisions of the Supreme Court shall be enforced in any part of the Federation by all authorities and persons, and by courts with subordinate jurisdiction to that of the Supreme Court.’”

Advertisement

READ ALSO: Naira Notes Scarcity: Buhari Addresses Nigerians, Seeks Patience, Understanding [ FULL TEXT]

Making allusion to the Supreme Court, in the case of ABACHA V. FAWEHINMI (2000) 6 NWLR (Pt. 660) 228 at page 317 E-F, he noted, “’A court order must be obeyed and even if it is a nullity, it has to be set aside on appeal against it. Per NWALI SYLVESTER NGWUTA, JSC (Pp 25 – 25 Paras D – E). See also the locus classicus of GOVERNOR OF LAGOS STATE VS. OJUKWU (1986) 1 NWLR PT. 18, PG. 621.”

He advised the Supreme Court not to allow this slide, since the President in his speech alluded that the matter was before the apex court.

Advertisement

Ozekhome said, “This is one instance where the apex court should bare its teeth and bite. This is more so because President Buhari had himself acknowledged in his speech, the pendency of the matter before the Supreme Court. Surely, no one is above the law; not even President Buhari himself.”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

on

By

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.

READ ALSO:Film Premiere: Edo In Talks With Embassies To Promote Safe Migration —Agazuma

Advertisement

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.

Advertisement

He has been a regular feature for Lazio this season.

Continue Reading

News

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

Published

on

By

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.

Advertisement

READ ALSO:Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies 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.

Advertisement

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

Continue Reading

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

on

By

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Advertisement

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

READ ALSO:I’ve Been Blacklisted In Music Industry For 13 Years – Seun Kuti

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

Advertisement

Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

Advertisement

Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

READ ALSO:My Beef With Wizkid Is For Life – Seun Kuti

By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Advertisement

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.

Advertisement
Continue Reading

Trending

Exit mobile version