Falana wants court to stop United States of America’s dollar as a legal tender in Nigeria

Human rights lawyer, Mr. Femi Falana (SAN), filed a suit before the Federal High Court in Abuja on Wednesday, praying for an order restraining the Central Bank of Nigeria from allowing market forces to determine the exchange rate of the naira.

The senior advocate also asked the court in his suit, FHC/ABJ/CS/146/16, to direct the CBN to stop the use of the United States of America’s dollar as a legal tender in Nigeria.

The suit was filed on behalf of Falana by a lawyer in his firm, Mr. Wisdom Elum.

The CBN is sued as the sole defendant in the suit, which has yet to be assigned to a judge.

Falana alleged in the suit that the CBN’s monetary policy had led to a situation where too much naira was made to chase a few dollars with an attendant weaker naira and adverse multiplier effects such as rising inflation, closure of factories and high level of unemployment.

He also alleged that the CBN had so “dollarised the economy” that the foreign currency had become a legal tender, with school fees as well as rents now being charged and paid in dollars “to the detriment of the economy.”

He contended that while the CBN had fixed the exchange rate at N198 to a dollar, and President Muhammadu Buhari had continued to restate his promise not to devalue the naira, the apex bank “had allowed market forces to increase the exchange rate to over N400 to a dollar.”

A supporting affidavit deposed to by another lawyer in Falana’s law firm, Mr. Femi Adedeji, stated, “The devaluation of the currency and dollarisation of the economy have made mockery of the yet-to-be-passed 2016 budget of the Federal Government.

“The monetary policy of the defendant (the CBN) has led to a situation whereby too much naira chase few dollars, thereby making the naira weaker in relation to the dollar and instigating an adverse multiplier effect.

“The monetary policy of the defendant has also led to increasing costs, rapidly rising inflation and interest rates, closure of factories and the attendant high level of unemployment.”

The lawyer, therefore asked the court to determine, “whether the monetary policy of the defendant, which allows market forces to fix and determine the exchange rate of the naira is not a violation of Section 16 of the CBN (Establishment) Act 2007 and Section 16 of the Constitution of the Federal Republic of Nigeria, 1999 as amended.”

The SAN asked the court to determine whether the CBN decision to allow the US dollar as a legal tender for payment of any amount in Nigeria was not a contravention of Section 20 of the CBN Act.

He sought the following prayers: “A declaration that by virtue of Section 16 of the CBN Act 2007 the defendant shall fix and determine the exchange rate of the naira by a suitable mechanism devised for that purpose.

“A declaration that the monetary policy of the defendant, which allows market forces to fix and determine the exchange rate of the naira, is illegal and unconstitutional as it violates Section 16 of the CBN Act 2007.

“A declaration that the dollarisation of the economy through the use of the US dollar as a legal tender in Nigeria is illegal and unconstitutional as it violates Section 20 of the CBN Act, 2007.

“An order of perpetual injunction restraining the defendant from allowing market forces to determine the exchange rate of the naira in any manner whatsoever and howsoever.

“An order directing the defendant to stop forthwith the use of the US dollar as a legal tender in Nigeria in any manner whatsoever and howsoever.”

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PDP Approves 3 Months Tenure For Sheriff, To Hold National Convention In May

Ali Modu Sheriff, Embattled PDP National Chairman

The Leadership of the Peoples Democratic Party (PDP) has agreed and approved  a three-month tenure for the Ali Modu Sheriff as national party chairman to hold a national convention in may.

This was reached at a caucus meeting which has in attendance the PDP Governors’ Forum, the party’s Board of Trustees (BoT), the National Assembly Caucus, the party’s National Working Committee (NWC) and the state Committees.

The meeting was held at the Ondo State Governor’s Lodge, Asokoro, Abuja, the decision was unanimous from all the sections.

Ondo State Governor, Dr. Olusegun Mimiko, who addressed the media shortly after the meeting, said the decision taken was in the best interest of the party.

He said Sheriff had been mandated to put in motion preparations for the party’s national convention to elect new members of the NWC to run the party.

The Acting Chairman of the BoT, Senator Walid Jibrin, also commented, saying that the BoT is in agreement with the decision.

According to him, Sheriff is expected to bring out a timetable within two weeks for the next convention to be convened in May.

He expressed the optimism that the lingering crisis in the party would be resolved within the period.

Commenting on the rejection of Sheriff by the party’s ex -ministers, Mimiko said they are members of the party at the state level headed by state chairmen, according, which in turn makes them automatically a party to the decision.

Mimiko added that the various party organs would still mediate to align they ex-ministers with the view to bringing them on board on the decision.

Rickey Tarfa withdraws N5bn suit against EFCC, others

Embattled Senior Advocate of Nigeria, Mr. Rickey Tarfa, on Wednesday withdrew the N5bn fundamental rights enforcement suit he filed against the Economic and Financial Crimes Commission and four others over an alleged violation of his right to privacy, The PUNCH reported.

Following the withdrawal of the suit, Justice Mohammed Idris awarded a punitive cost of N50,000 against Tarfa in favour of the five respondents.

The respondents are the EFCC, its Acting Chairman, Ibrahim Magu, Mrs. Rashidatou Abdou, Mr. Femi Falana (SAN) and MTN Nigeria Communications Limited.

Tarfa had filed the suit following his arrest on February 5 by EFCC operatives on the premises of the Lagos State High Court in Igbosere, where he allegedly hid two suspects of economic and financial crimes in his car to prevent their arrest.

His two mobile phones and his Mercedez Benz SUV with Registration No. KJA 700 CG were confiscated by the anti-graft agency.

But in his N5bn fundamental rights enforcement action, Tarfa had urged the court to declare that the respondents violated his right to privacy protected by Section 37 of the constitution, when, without a court order, MTN allegedly made the call log on his mobile line, 08034600000, available to the EFCC and the others respondents, who in turn allegedly released the information to SaharaReporters and other online media.

The senior advocate had also urged the court to hold that the respondents acted unlawfully when they accessed his bank details, clients’ information, private and confidential information contained in his iPhone 6 and Samsung 6 without a court order or any reasonable cause.

He had urged the court to award N5bn damages against the respondents in his favour, stressing that no amount of money could adequately redress the “unquantifiable and irreparable damage done to him, his reputation, his business and his goodwill.”

But a lawyer from his chambers, O. Oladele, appeared before Justice Idris on Wednesday with an ex parte application to discontinue the case.

Oladele gave no reason for Tarfa’s decision to withdraw the case.

Lawyers for the EFCC, Mr. Wahab Shittu and Rotimi Oyedepo, who also appeared in court, said they were not opposed to the withdrawal of the suit, but urged the court to award a punitive cost against Tarfa.

“My Lord, we have no objection to the discontinuance of the suit but we want the court to award a punitive cost against the applicant. Our names have been flying around in the major newspapers since yesterday,” Shittu said.

But Oladele argued that the EFCC’s lawyers had no right of reply because his application was an ex parte application. Besides, he said the respondents could not be asking for cost because Tarfa had not served them with the suit.

But Shittu argued that since the filing of the suit was widely reported in the newspapers, it was tantamount to serving the respondents by substituted means.

Two Cooperative Chiefs Get Two Years Imprisonment for N4m Fraud

The Economic and Financial crimes commission, EFCC, secured another conviction on Wednesday, February 24, 2016 as Justice A. I. Kutigi of the High Court of the Federal Capital Territory, Abuja, convicted and sentenced the duo of Adegboyega London and Sylvanus Benedict to two years imprisonment each.

London and Benedict were arraigned in 2011 on a two count charge of criminal conspiracy and criminal breach of trust.

In a bid to free themselves of the charge, the defendants in 2013 filed a no case submission in which they were discharged on count one of conspiracy and ordered to enter their defence on the second count of breach of trust, which led to amending the charge.

London and Benedict were said to be Chairman and Secretary of Mbatoo Cooperative Society respectively. The Society was one of the Cooperative Societies in Nigeria awarded grants by the Federal Government to develop solid minerals sector of the economy with a view to increase the income of artisans and small scale miners.

The convicts fraudulently converted the sum of N4, 826,850.00 (four million eight hundred and twenty six thousand, eight hundred and fifty naira) to their own use as against the term of the agreement.

After diligent prosecution, Justice A. I. Kutigi found the first defendant (London) guilty on the first count and the second defendant (Benedict) guilty on the second amended charge.

While London was sentenced to 2 years imprisonment with an option of fine in the sum of N100,000 (hundred thousand naira) on count one, Benedict, got the same sentence on the amended second count.

The judge also ordered that, the convicts pay restitution of N2,413,425 (two million, four hundred and thirteen thousand, four hundred and twenty five naira) each to the Federal Ministry of Mines and Steel Development.

Rev. Jesse Jackson calls for boycott of Academy Awards, compares Hollywood to apartheid-era South Africa

                                                                                        SCOTT OLSON/GETTY IMAGES

“Once again, the Oscars have tuned us out,” Rev. Jesse Jackson said in a statement.

Rev. Jesse Jackson is calling for a boycott of the Academy Awards Sunday, comparing Hollywood to apartheid-era South Africa.

Several African-Americans involved in the film industry, including director Spike Lee and actors Will Smith and Jada Pinkett Smith, have announced they won’t attend the ceremony.

The Oscars have been criticized for nominating an all-white slate in the four acting categories for the second year in a row.

Once again, the Oscars have tuned us out,” Jackson said in a statement. “We should reciprocate Sunday night by boycotting the broadcast, which amounts to a celebration of exclusion, narrow-mindedness and cultural distortion.”

                                                                                                                                                    STAFF/REUTERS

The Oscars have been criticized for nominating an all-white slate in the four acting categories for the second year in a row.

Back in 1996, Jackson said, the Rainbow PUSH Coalition called for the film industry to hire more minorities for jobs in front of the camera and behind the scenes.Back in 1996, Jackson said, the Rainbow PUSH Coalition called for the film industry to hire more minorities for jobs in front of the camera and behind the scenes.

But he said little has changed.

“This disgraceful, man-made drought is nothing new,” Jackson said. “In Hollywood, there has been no climate change.”

The Academy, which has been criticized for the lack of diversity among its governing body as well as the nominees, has promised changes.

“This is a difficult but important conversation, and it’s time for big changes,” Academy of Motion Pictures Arts and Sciences President Cheryl Boone Isaacs said in a statement released last month. “The Academy is taking dramatic steps to alter the makeup of our membership. In the coming days and weeks we will conduct a review of our membership recruitment in order to bring about much-needed diversity in our 2016 class and beyond.”

The Oscars, which will be hosted by black comic Chris Rock, will air Sunday on ABC.