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MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT

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MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT

By: Michael Mike

Centre for Social Justices (CSJ) notes with regret the recent amendment to the Central Bank of Nigeria Act, increasing advances the CBN can grant to the Federal Government of Nigeria from 5 percent to 15 percent. The amendment contradicts best practices in fiscal responsibility and is an authorization of the Executive to create macroeconomic distortions through arbitrary and increased ways and means funding.

We recall that the extant S.38 of the CBN Act grants FGN access to ways and means financing in respect of temporary deficiency of budget revenue at such rate of interest as may be determined by CBN. The total amount of such advances outstanding shall not at any time exceed five per cent of the previous year’s actual revenue of FGN. All Advances made pursuant to this authority shall be repaid – (a) as soon as possible and shall in any event be repayable by the end of the Federal Government financial year in which they are granted and if such advances remain unpaid at the end of the year, the power of CBN to grant such further advances in any subsequent years shall not be exercisable, unless the outstanding advances have been repaid.

According to Senator Gobir said: “The very essence of this bill is to enable the federal government to meet its immediate and future obligation in the approval of the ways and means by the National Assembly and advances to the federal government by the Central Bank of Nigeria. This amendment is very consequential and it needs the support of us all. This is to enable the federal government to embark on very important projects that will inflate and rejig the economy.” However, the amendment is a misconceived route to meeting the needs and obligations of FGN and definitely cannot be the road to rejigging the economy. It will rather create new macroeconomic challenges.

Specifically, the following issues are noteworthy:

v If FGN has not been able to refund previous advances from the CBN at 5 percent of previous year’s revenue, what machinery did the amendment put in place to ensure that FGN will be in a position to repay 15 percent of previous years revenue by the end of its financial year?

v There is evidence that previous advances from the CBN were in excess of the 5 percent rule and instead of reforms to ensure conformity with fit and good practices, a leeway is provided for deepening fiscal mischief.

v Previous high levels of advances led the Executive to incur over N23trillion in ways and means which could not be repaid and had to be converted by the National Assembly to long term indebtedness contrary to the provisions of the CBN Act.

v S. 38 (1) of the CBN Act categorically states that such advance should be in respect to temporary deficiency of budget revenue and not as a means of funding the deficit budget as the Federal Government has resorted to in recent years. Over the years and in accordance with fit and good practices, ways and means has never been listed in the Appropriation Act as a source of funding the deficit.

v The option of resorting to ways and means to fund budgetary deficits further increases the already high inflation rate especially when done by printing money not backed by value. Thus, it erodes the value of the Naira, and real income; it reduces purchasing power of citizens.

v The amendment of the CBN Act did not follow due process; it was arbitrary and lacking in popular particpation. There was no opportunity of a public hearing and publicity, to give room for Nigerians to make inputs on this very crucial matter with potentials to negatively affect overall economic growth and general welfare of the people.

In the light of the foregoing, CSJ strongly appeals to President Bola Ahmed Tinubu to withhold assent to the bill. CSJ acknowledges the revenue challenges facing the nation but the implementation of this particular bill (if it becomes law) will create monumental macroeconomic challenges now and in the future.

Eze Onyekpere Sundayson Chidi
Lead Director Program Manager, Public Finance Management.

MR. PRESIDENT; WITHHOLD ASSENT TO THE AMENDMENT OF THE CENTRAL BANK OF NIGERIA ACT

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Turkiye Condoles Nigeria over Passing of Buhari

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Turkiye Condoles Nigeria over Passing of Buhari

By: Michael Mike

The Turkish government has condoled with the government and people of Nigeria over the death of former President Muhammadu Buhari.

Buhari who died on Sunday at the age of 82 after a prolonged illness was buried in his hometown, Daura, Katsina State on Tuesday.

Speaking on occassion on the 9th anniversary of the attempted forceful change of government in Turkey, the Turkish Ambasssdor designate, Mehmet Poroy said “the government of Turkey expressed its deep condolences to the people and the government of Nigeria, on the passing of the former President of the Federal Republic of Nigeria, His Excellency Muhammadu Buhari.”

Leading dignitaries at the occasion to observed a minute of silence, the ambassador also prayed that the Almighty Allah bless his soul.

Speaking on the July 15 Democracy and National Unity Day ceremony, Poroy said its a day set aside to honour the memories of those who died in the process of defending democracy.

He said: “On this July 15th, Democracy and National Unity Day, I extend my respectful greetings to all our citizens and honour the memory of our heroic martyrs who gave their lives for the preservation of democratic and independent Turkey. I would like to thank once again for your presence here today in our embassy. We are grateful to you, dear friends, for sharing our feelings on the anniversary of this attempted coup, a direct threat to democracy and the will of our people in Turkey.”

The envoy also disclosed that over 200 institutions run by the group suspected to be behind the attempted coup has been taken over by Turkish institutions.

He noted that: “The fact that new investigations and arrests into the organisation continue to be launched, demonstrates the need for this struggle to be pursued with unwavering determination.”

Turkiye Condoles Nigeria over Passing of Buhari

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UN Reaffirms Commitment to Building Act of Diplomacy in Young Nigerians

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UN Reaffirms Commitment to Building Act of Diplomacy in Young Nigerians

By: Michael Mike

United Nations has reiterated its commitment to supporting young Nigerians imbibe diplomacy as skills to ensure a better future.

The commitment was made on Tuesday by the United Nations Resident and Humanitarian Coordinator, Mr Mohamed Fall, in Abuja at the inaugural Premiere Academy International Model UN (PAIMUN) conference organised by the United Nations Information Centre (UNIC) in Nigeria.

The conference, which is centered on commemorating the 80th anniversary since the founding of the United Nations, seeks to promote peace, tolerance, diplomacy and consensus building amongst youths.

Fall said while delivering a welcome address at the maiden Premiere Academy International Model UN (PAIMUN) that Nigeria has an undoubtedly commitment to the UN and its many goals.

He said: “Nigeria joined the UN shortly after gaining independence and since then it has a key player, the Deputy Secretary-General of the UN is from Nigeria.

“It is critical we take UN out of formal space like interaction with government, get young people and civil society involved and because more than ever, UN goals and ideals are needed.

“Let us not forget that UN was established to prevent conflict, promote security, human dignity and development, as well as provide assistance to the most vulnerable and leave no one behind.

“It is time for us, to double down, reinforce them, and spread this message. What I have seen young people do in this regard is part of it, because the future is theirs,

“Getting them trained and know how UN functions, learn diplomacy, learn tactful way of solving and peaceful way of solving difference is something which is really critical in today’s world.”

He promised to improve on the maiden edition of the conference beyond Abuja and a specific school, in order to accommodate the 36 states and all local government areas in the country.

He noted that the UN Charter started with people and the people are not only the government, but also those who are hard to reach and most vulnerable.

Fall said: “It is everyone, those who are female, those who live with disability, and I think the notion of inclusion of UN has found expression in this principle of we the people.

“Young people to understand that the future is theirs. Today’s and tomorrow’s shape have to be done by them. It is their call.

“The same way the generation of those who came out of the Second World War created UN for building peace and security. It is their time and their call to take the challenge of today.

“The challenge today are conflict, insecurity, climate-related shock, poverty and inequality, they have to take it and that is my appeal to all young people,” Fall advised.

The Principal of Premier Academy, Mr Christopher Akinsowon, on his part, commended the conference for helping the students to better understand the operation of the UN General Assembly.

He said: “What we are doing here is a simulation of the UN General Assembly. This very section teaches not only students, even we adults, the process of diplomacy.

“Such that we can resolve all issues in a very diplomatic way, as against fighting, war and aggression.

“If all states and local governments in Nigeria adopted diplomacy, there will not be so much war or crises here and there; we will talk it out instead of war.

“So, that is what we here to inculcate in these young minds, because very soon they will be

the ones that will take over as leaders, whether you like it or not.”

Highpoint of the PAIMUN conference attended by 109-students was the students playing the roles of ambassadors of UN Member States with focus on UN@80: “Building the future together.”

UN Reaffirms Commitment to Building Act of Diplomacy in Young Nigerians

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ECOWAS Court to Deliver Ruling in a Case Brought by Ghana’s Chief Justice

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ECOWAS Court to Deliver Ruling in a Case Brought by Ghana’s Chief Justice

By: Michael Mike

The Community Court of Justice, ECOWAS on Monday, 14 July 2025 adjourned for a ruling on an application for provisional measures brought by the Chief Justice of Ghana, Her Ladyship Justice Gertrude Araba Esaaba Sackey Torkornoo, and the preliminary objections raised by the Republic of Ghana. 

The initiating application with suit No.

ECW/CCJ/APP/32/25, filed by the Chief Justice of Ghana, sought a suspension of ongoing proceedings to remove her from office and her reinstatement with full entitlements, pending the determination of the substantive matter before the Court.

During the hearing, the Respondent requested that its jurisdictional objection be heard first as it pertains to the Court’s power to determine the request for provisional measures. It argued that the Court lacked jurisdiction and that the application was inadmissible since it concerned constitutional matters pending before competent domestic courts in Ghana, including its Supreme Court. 



The Respondent contended that allowing the ECOWAS Court to proceed would amount to forum shopping and could lead to conflicting decisions. It cited some decided cases where the Court declined jurisdiction over matters concurrently pending before national courts, affirming its principle of non-interference in ongoing domestic judicial processes. 

The Respondent added that the Chief Justice was duly informed of the petition for her removal and afforded access to relevant documents.

Consequently, the ongoing process in Ghana are fully consistent with the procedures established under the Ghanaian Constitution.

In her response, the Applicant argued that the case does not involve constitutional interpretation, but rather clear violations of human rights guaranteed under regional legal instruments.  She cited alleged breaches of Article 5 (right to dignity), Article 7 (right to fair hearing), and Article 15 (right to work) of the African Charter on Human and Peoples’ Rights. The Applicant further argued that the proceedings in Ghana had already inflicted reputational harm on her and compromised judicial independence.  She stressed that allowing it to proceed could render the substantive matter before the ECOWAS Court moot.


  
On jurisdiction, the Applicant cited the ECOWAS Court’s jurisprudence which affirm the Court’s authority to hear human rights claims despite ongoing domestic proceedings, particularly when the domestic remedies are ineffective, or the violations persist.



The Applicant pointed out that the purpose of the application for provisional measures was to temporarily protect her rights and prevent irreparable harm, pending the final decision on the substantive case.

The matter has been adjourned for a ruling at date to be communicated to the parties.

ECOWAS Court to Deliver Ruling in a Case Brought by Ghana’s Chief Justice

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