Nelson Ugwuagbo

A bill seeking to prohibit the use of foreign currencies for transactions and remuneration in Nigeria has passed its first reading in the Senate.

The bill, titled “A Bill for an Act to Alter the Central Bank of Nigeria Act, 2007, No. 7, to Prohibit the Use of Foreign Currencies for Remuneration and Other Related Matters,” was sponsored by Senator Ned Nwoko, Chairman of the Senate Committee on Reparations and Repatriation.

The proposed legislation aims to ensure that all payments, including salaries and other financial transactions, are conducted using Nigeria’s local currency, the naira.

Senator Nwoko emphasized that the widespread use of foreign currencies, such as the Dollar and Pound Sterling, undermines the value of the naira and perpetuates economic challenges in the country.

He described the reliance on foreign currencies for domestic transactions as a colonial relic that continues to impede Nigeria’s economic independence.

The World Bank is set to approve three major loan projects for Nigeria in 2025, totaling $1.65 billion, according to information obtained from the institution’s official website.

The loans are targeted at addressing critical challenges in internally displaced persons (IDPs), education, and nutrition—sectors deemed vital to Nigeria’s social and economic recovery. The projects aim to provide long-term solutions to persistent issues such as displacement, educational disparities, and malnutrition, which have worsened due to years of conflict, economic instability, and systemic inefficiencies.

The $1.65 billion financing highlights the World Bank’s commitment to supporting Nigeria’s reform efforts and addressing systemic challenges hindering development. The successful implementation of the projects is expected to be crucial for Nigeria’s sustainable recovery.

The loan programs will also align with Nigeria’s broader development goals, as outlined in national policy frameworks, and contribute to global efforts to improve social indicators in developing nations. The World Bank’s initiative aligns with the United Nations Sustainable Development Goals (SDGs), particularly those related to education, health, and poverty reduction.

The Federal Government has announced a free train ride for any Nigerian wishing to travel to celebrate the Christmas festivities.

Minister of Information and National Orientation, Mohammed Idris, made the announcement on Monday while briefing journalists on the outcome of the Federal Executive Council, FEC, meeting.

He noted that the free train ride will commence from 20th December, 2024, and end on 5th January, 2025.

According to Idris, Nigerians can access the train rides on all the routes where train services are currently being rendered.

More details late

The Economic and Financial Crimes Commission (EFCC) has arrested 792 suspects, including 193 foreigners, for alleged involvement in cryptocurrency investment fraud and romance scams.

The arrests were made during a surprise operation on Tuesday, December 10, 2024, at an imposing seven-storey building known as Big Leaf Building, located at No. 7 Oyin Jolayemi Street, Victoria Island, Lagos.

Speaking at a press briefing on Monday, EFCC’s Director of Public Affairs, Wilson Uwujaren, said the operation followed months of surveillance and actionable intelligence on the activities of the syndicate.

Among those arrested were 148 Chinese nationals, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian. Uwujaren disclosed that the foreign suspects were using the facility to train their Nigerian accomplices in romance and investment scams, leveraging Nigerian identities to carry out fraudulent activities.

“All the floors of the building were equipped with high-end desktop computers,” Uwujaren said. “On the fifth floor alone, investigators recovered 500 SIM cards from local telecom providers, which were purchased for criminal purposes.”

He further explained that the Nigerian recruits were tasked with targeting victims online, mainly from the United States, Canada, Mexico, and various European countries. These accomplices used phishing techniques, creating fake profiles on platforms like WhatsApp, Instagram, and Telegram to lure unsuspecting individuals.

Uwujaren revealed that the foreign operators provided their Nigerian accomplices with the necessary tools, including desktop computers, mobile devices, and access to foreign communication lines. Logs were also supplied to enable the recruits to impersonate individuals using foreign telephone numbers, particularly from Germany and Italy.

The EFCC said the investigation is ongoing and vowed to prosecute those found culpable. The commission emphasized its commitment to curbing cybercrime and warned perpetrators that they would face the full force of the law.

The Presidency has dismissed recent comments made by Kemi Badenoch, the newly elected leader of the United Kingdom Conservative Party, about her upbringing in Nigeria, describing them as a “cock and bull story.”.

In a statement on Monday, President Bola Tinubu’s Senior Special Assistant on Media and Publicity, Temitope Ajayi, accused Badenoch of fabricating claims about her childhood in Nigeria.

Badenoch had alleged that her upbringing in Nigeria was overshadowed by fear and insecurity, attributing this to widespread corruption in the country. Following her election as UK Conservative Party leader in November 2024, efforts by the Nigerians in Diaspora Commission (NIDCOM) to reach out to her reportedly went unanswered.

Reacting to her remarks, Ajayi criticized Badenoch in a post on X, saying: “You are Kemi Badenoch, an opposition leader and a future Prime Minister of the UK. A journalist asked you about the state of the police in the country you hope to govern. Instead of addressing the question, you shared an inane cock and bull story of how policemen stole your brother’s shoe in Nigeria.”

Ajayi further alleged that Badenoch’s comments were inconsistent with her privileged background. “Her story of carrying a desk and chair to sit in class at ISL didn’t add up. Her claim of having no clean water to drink was complete baloney for a girl who grew up in an upper-middle-class family—her mother a university professor and her father a successful medical doctor who ran a private hospital with a rich clientele,” he wrote.

The Presidency questioned the credibility of Badenoch’s statements, alleging that they were fabricated to enhance her political image. Ajayi also expressed doubts about her claims of a negative experience with Nigerian police, suggesting they might have been exaggerated or entirely false.

The remarks have sparked debate, with critics accusing Badenoch of misrepresenting her Nigerian upbringing, while supporters argue that she may have been highlighting broader systemic issues.

The Federal High Court in Abuja has ruled that the Independent Corrupt Practices (ICPC) and Other Related Offences can freeze suspicious bank accounts for a maximum of 72 hours without court approval, reducing the one-year period provided in the ICPC Act.

Delivering the judgment in a case filed by the Lawyers Network Against Corruption (LNAC), Justice James Omotosho declared that freezing accounts for up to one year was “totally unreasonable” and could lead to abuse of power. The court held that such prolonged freezing infringes on the rights to property and fair hearing guaranteed by the Constitution.

The suit, filed by LNAC through lawyer Ezenwa Anumnu, challenged the ICPC’s practice of directing banks to freeze accounts without court orders. LNAC argued that this practice caused undue hardship and violated constitutional provisions, asking the court to declare Section 45(1) of the ICPC Act invalid and to restrain the ICPC from issuing such directives.

Justice Omotosho acknowledged the ICPC’s authority to freeze accounts under investigation but stressed the need to balance this with the constitutional rights of individuals. He ruled that the ICPC must seek court approval for any freeze order exceeding 72 hours, emphasizing the risk of injustice if account holders were left without access to their funds for extended periods.

The judge noted that while enforcement agencies require powers to seize suspected criminal proceeds for thorough investigations, the Constitution guarantees citizens the right to fair hearing. He explained that freezing accounts without judicial oversight undermines this right and could cripple personal or commercial interests.

Citing concerns about potential abuse of power, Justice Omotosho rejected the ICPC’s argument that its chairman could vary freeze orders within 12 months, describing the timeframe as excessive and detrimental to account holders. He affirmed the importance of fighting corruption but insisted that investigations must respect constitutional safeguards.

The court ruled that ICPC freeze orders are valid for 72 hours, after which they must be extended by a court.

A tragic accident involving a J5 Ford bus (FKJ 724 YC) and a Mercedes truck (FKJ 746 YC) at Ilubirin, inward Sura, along the Lagos Third Mainland Bridge, has claimed one life and left four others injured.

The Lagos State Traffic Management Authority (LASTMA) confirmed the incident in a statement on Monday, signed by Adebayo Taofiq, Director of Public Affairs and Enlightenment.

According to the statement, LASTMA officials, led by the General Manager, Olalekan Bakare-Oki, arrived promptly at the scene and coordinated rescue operations. Five victims were extricated from the wreckage, but one succumbed to injuries sustained in the crash, while the other four sustained varying degrees of injuries.

Preliminary investigations revealed that the J5 Ford bus, carrying pepper and other perishable goods, experienced brake failure while traveling at high speed, leading to the collision with the Mercedes truck.

Emergency response teams, including the Lagos State Emergency Management Agency (LASEMA) Response Unit, Federal Road Safety Corps (FRSC), Nigerian Police Force, and Lagos State Ambulance Service (LASAMBUS), worked alongside LASTMA to manage the situation and ensure the victims received immediate medical attention at the General Hospital on Lagos Island.

In a bid to restore normalcy, LASTMA officials cleared the accident site, removing the damaged vehicles and scattered goods to ease traffic flow along the bridge.

While expressing condolences to the family of the deceased, Bakare-Oki emphasized the importance of road safety, especially during the festive season. He urged drivers, particularly operators of heavy-duty vehicles, to avoid speeding and ensure their vehicles, especially braking systems, are in optimal condition before embarking on any journey.

LASTMA reiterated its commitment to ensuring the safety of road users and pledged continued collaboration with relevant agencies to prevent avoidable accidents on Lagos roads.

Governors of Nigeria’s 36 states have reached a consensus on establishing state police as part of efforts to address the country’s ongoing insecurity challenges. This decision was among the resolutions from Thursday’s National Economic Council (NEC) meeting, presided over by Vice President Kashim Shettima at the Presidential Villa, Abuja.

Kaduna State Governor, Uba Sani, briefed journalists after the meeting, confirming that submissions on state police had been received from all states except the Federal Capital Territory (FCT). He explained that the NEC secretariat would engage stakeholders further and present a comprehensive report during the council’s next meeting in January.

Governors Sani noted that most states support the creation of state-controlled police forces, citing the need to address unique security challenges in their regions and the inadequacies of the current centralized policing system. He emphasized that a decentralised security framework would allow states to tailor measures to their specific needs, enhancing citizens’ safety.

“Virtually all 36 states have made their submissions, and most are in agreement on the establishment of state police. Considering the ungoverned spaces across Nigeria and the lack of personnel in existing security agencies, state police is seen as a practical solution to insecurity,” Sani said.

The push for state police has gained momentum as states struggle with rising insecurity exacerbated by limited security agency resources. Governor Sani pointed out that the current deficit in personnel across the police, army, and other agencies has left many areas vulnerable, making decentralised policing essential.

However, the NEC decided to defer final deliberations until its next meeting to allow the secretariat to compile and present a detailed report based on the states’ submissions. The council also resolved to conduct further stakeholder engagements to refine the proposal.

The initiative reflects a growing recognition of the need for tailored security approaches to address Nigeria’s complex and region-specific security challenges.

The law firm of Afe Babalola & Co. has filed a petition with the Legal Practitioners Disciplinary Committee (LPDC), seeking the disbarment of Lagos-based lawyer Dele Farotimi for alleged violations of the Rules of Professional Conduct for Legal Practitioners.

The 90-page petition, dated December 6, 2024, was signed by Ola Faro, a partner in the firm, who was also referenced in Farotimi’s book, Nigeria and its Criminal Justice System. The petition accuses Farotimi of making unfounded allegations of corruption against the judiciary, including Supreme Court justices, Lagos High Court judges, and members of Afe Babalola & Co.

The petition outlines alleged breaches of professional conduct, including:

• Making false and defamatory statements about judicial officers and the legal profession.
• Assisting clients in illegal and fraudulent activities.
• Engaging in misconduct by bribing judicial officers and having unlawful access to them.
• Failing to maintain respect, fairness, and dignity in dealing with fellow lawyers and the courts.
• Using offensive and unprofessional language against the Supreme Court and its justices.

According to the petitioners, these actions discredit the judiciary and undermine the integrity of the legal profession. They argue that Farotimi’s statements in his book are capable of causing harm to the reputation of the judiciary, their law firm, and society at large.

The LPDC, tasked with regulating legal practitioners in Nigeria, has the authority to investigate allegations of professional misconduct and recommend sanctions, including striking a lawyer’s name off the roll of legal practitioners.

The petitioners stated that the petition was filed to uphold the dignity of the legal profession and the judiciary as a temple of justice. The LPDC’s decision, if unfavorable to Farotimi, can be appealed to the Supreme Court.

Former Governor of Kogi State, Yahaya Bello, has pleaded not guilty to charges brought against him by the Economic and Financial Crimes Commission (EFCC).

The EFCC arraigned Bello at the Federal High Court in Abuja on a 19-count charge of alleged money laundering amounting to N80 billion.

The charges include accusations of diverting public funds for personal use, including acquiring properties both within Nigeria and abroad.

After the charges were read in court, Bello confirmed his understanding of the allegations and entered a plea of not guilty to all counts.

The court granted him bail in the sum of N500 million with two sureties of equal value.