CBN accuse #EndSARS campaigners of terrorism!!

The Federal Government was able to freeze the accounts of 20 #EndSARS campaigners after telling a Federal High Court in Abuja that the funds in their accounts might have been linked to terrorist activities. This is according to a written address in support of a motion ex parte filed by the Central Bank of Nigeria. The CBN had in the second week of October frozen 20 accounts and thereafter approached the court to seek an ex parte order to freeze the accounts. In the case with suit number FHC/ABJ/CS/1384/2020, filed before Justice A. R. Mohammed, the CBN, however, made no mention of the fact that the 20 accounts were owned by persons involved in the #EndSARS protests, but told the court that the funds might have emanated from terrorist activities. The written address read in part, “My lord, the nature of the transactions undertaken through the defendants’ accounts are of suspected terrorism financing in contravention of Section 13(1)(a)and(b) of the Terrorism (Prevention)(Amendment) Act, 2013 and Regulation 31(2)(a)and (3)(b) of the Central Bank of Nigeria Anti-Money Laundering/Combating the Financing of Terrorism Regulations, 2013.” In a supporting affidavit deposed to by one Aondowase Jacob on behalf of the CBN, it was stated that the Head of the Economic Intelligence Unit of the Governor’s Department, CBN, Joseph Omayuku, had conducted an investigation on the accounts of the defendants and other individuals and entities held with certain banks in Nigeria. According to the affidavit, the investigation showed that the owners of the accounts may have been involved in terrorist activities. It added, “There is a grave allegation that the defendants are involved in suspected terrorism financing via their bank accounts in contravention of the provisions of extant laws and regulations. The aforesaid transactions undertaken by the defendants, using their bank accounts, can cause significant economic and security harm to the public and the Federal Republic of Nigeria if left unchecked. “The applicant (CBN governor) is thus desirous to have the court empower him to[…]

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CBN Says No to Removal of Arabic Inscription on Naira Notes

Central Bank of Nigeria has said no to a lawsuit seeking the removal of Ajami (Arabic) inscriptions on Naira notes. The highest bank in Nigeria had said it would cost Nigeria a lot of money to trash the existing notes because of the Arabic inscriptions and print new naira notes without the Arabic inscriptions. The apex bank dialogue that the Ajami is not a mark of Islam or its symbol but an inscription to aid non-English speakers who are literate in and use Ajami for trade. A Lagos-based lawyer, Chief Malcom Omirhobo, who filed the suit against the central bank, had argued that having Arabic inscription on the nation’s currency portray Nigeria as an Islamic nation, which is different or opposite to the constitutional status of a secular state. Omirhobo stated that this violates sections 10 and 55 of the nation’s constitution that state a government of the federal or a state shall not adopt any religion. Section 10 reads: “The government of the Federation or of a state shall not adopt any religion as state religion.” He, therefore, prayed that the court stops the CBN from “further approving, printing and issuing naira notes with Arabic inscriptions, bearing in mind that Nigeria is a secular state.” He also prayed that the court mandates the apex bank to replace the inscriptions with either English language, the nation’s official language or any of Nigeria’s three main languages, Yoruba, Hausa or Igbo. In its counter-affidavit, Abiola Lawal, counsel to the central bank, argued that “the Ajami inscriptions on some of the country’s currencies do not connote any religious statements or Arabian alignment.” He maintained the Arabic inscriptions were not a threat to Nigeria’s secular status. He said: “The inscriptions on the country’s currencies do not and at no time have they threatened the secular statehood of the nation or have they violated the constitution of Nigeria, as every design and inscription was finalised with the approval of the relevant government bodies.” Further explained “Ajami inscriptions” on[…]

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