JohnBullMySon:
The supreme Court did not stop the note implementation. They just suspended the deadline.

To suspend the deadline till (at the least) well after it has passed, is to effectively set a new deadline. Hence the Supreme Court has usurped the powers of the executive by effectively changing the deadline.

As per the suit itself, the governors claim the 3 months notice provided by the CBN was not 'reasonable' but that notice expired on January 31st (CBN announced on October 26). The governors filed their suit on February 3rd, which is after the expiration of the notice they are contesting and thus their suit should not have been entertained by any court.

Even if the Supreme Court wanted to hear the suit, the proper response was to immediately fast track the process, by holding a preliminary hearing in the following days, hearing from both parties, before granting the injuction. Instead, they waited 5 days (suspect to extort higher bribes) to rule on the injuction. But then it is not surprising, given their other extra judicial rulings of recent past

There is no democracy in country with a politicized judiciary

Nothing new or who else would they have supported, when Atiku was godson to late Shehu Musa Yar'adua, then godfather of the Kaduna Mafia.

Tinubu going to them was just making a fool of himself

JohnBullMySon:
Don't mind all these illiterates who have been responding to you.

The president is not a king nor is he a dictator. He cannot override any Court judgement talk more of the Apex Court. Only a higher Court can revoke a lower Court's judgement. The supreme Court is the top Court and the final stop.

The supreme Court can even revoke a presidential order. One of Buhari's orders around 2020 then was revoked by the supreme Court.

nor is the supreme court the boss of the presidency/executive branch.

Each arm of govt has its role as clearly delineated in the constitution, But in the current case, the supreme court has attempted to self-aggrandize and self-arrogate the powers of the executive.

The core of the suit is Section 20(3) of the CBN Act 2007:
Notwithstanding sub-sections (1) and (2) of this section, the Bank shall have power, if directed to do so by the President and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall , on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this Act, shall be redeemed by the Bank upon demand.

Plaintiffs claim 3 months is not enough 'reasonable' notice but wait till after the 3 months has passed to challenge it? Only the kangaroo supreme court of Nigeria would entertain such suit

Iamgrey5:
The dispute between different branches of the executive can be taken straight to the supreme court even in developed countries like America.

The Row vs Wade repeal

The Affirmative action repeal case still going on

If the action is deemed unconstitutional by the supreme court, it's reversed immediately.

and what is the question of law and/or fact that is in dispute in this case?

baralatie:

That emefiele has been acting on his own volition as the head/Governor of the CBN...the answer is yes!
That he gothe got it wrong and had to be corrected by the National Assembly...Yes!
That states of the federation approached the supreme court with an argument before the lordship that the CBN directive and plans are designed to destroy the financial of its citizens .....yes the can.


So it is left for the CBN governor to approach the supreme court to clarify the issues and profer solution before the action of the CBN leads to chaos!


Do you get the drift now!


Therefore that pipu should or are encouraging the CBN to ignore the supreme court justices.hian! The way DSS will bundle him ehn! Buhari will just look at find another replacement for CBN governor

That you think that Emefiele get the liver to act outside directives from PMB is hilarious.

If he is acting on his own, why is he now reportedly meeting with PMB?

baralatie:

Emefiele no get the mind to put him neck for the thing wey you type so!
He go wetin?
Ignore?
He should have ignored the NASS first?

Do you he has been acting of his own volition on this?

MyMouth:

You are talking trash! The supreme court has ruled. The FG and CBN must obey first.
And by the way, the governors are right to go to the supreme court, jus look at how people are suffering. I withdrew 5k from pos yesterday, they gave me old notes and charged me 500 naira. The pos girl said they have not had the new currency in a long while.
That same yesterday I was at the Shandam yam market to buy yams, you won't believe that almost all the yam sellers do not have account and deal on raw cash and since there was no cash in circulation, the market was looking dull with sellers causing this government. All the pos at the market had no cash. This is a very useless policy and the supreme court did well on this.

You must be right - FG must obey and Nnamdi Kanu was freed this morning

Nigerians have been suffering for decades, and where were these same governors and the supreme court?

Anyone that wants to keep accepting old notes after the deadline, can open his/her own bank to do so

baralatie:
Ok
It means the judgement will be copied to the CBN,office of the president,minister of finance and the bankers union .
So it also means that the CBN governor will needd to issue a fr ah directive to all the banks
Then the CBN will need to assembly it's legal team to go to the supreme court on this issue first before another directive can be given

Now if the Emefiele disregards the supreme court ...........the supreme court can automatically ask for his arrest


I dey look DSS and NASS with very sharp crocodile mouth and shark teeth

The supreme court can ask but cannot enforce anyone's arrest. All federal law enforcement, security agencies, and armed forces are under the executive branch. Anyone that goes rogue is simply risking their career for nothing, cos many seem to have forgotten that PMB na retired General

The CBN will likely just ignore the Supreme court order and there is nothing they can do about it. The banks can also simply refuse to accept all cash deposits till further notice.

Anyone still accepting old notes after the deadline does so at their own peril

omonnakoda:
The deadline is on The 10th in 2 days
The matter is extremely important and urgent
The Supreme court is right to hear the matter

Note
I didn't talk about the decision

But there is no time to be going to appeal and counter appeal
No time


The Supreme Court has both Original Jurisdiction and Appellate Jurisdiction. It has exclusive original Jurisdiction in matters between the Federal Government and State(s) Government as well as on matters between States of the federation in so far as the dispute involves questions of law or fact.

But this is not a question of law nor fact, and thus the supreme court order is not worth the paper it is written on.

The Supreme court simply does not have the power to extend the deadline unless the validity of said deadline is being questioned as a mater of law or fact. The FG has acted well within their constitutional right.

Three state governors are trying to tell the FG how to rule the country, but they dont, ipso facto and ispo jure, have a locus standi in the matter. Entertaining the suit in of itself is a failure by the Supreme Court

Tareq1105:


You don't talk like that. Emefiele is very stupid and God will punish him for this.

In my local government, there's no single commercial bank, people don't have bank account. So what happened to the people there? They travel like 80 kilometers to get to the nearest bank with their thousands of naira. On getting there you're given a tally number 581. From morning till 4pm only 110 people were attended to. They have to travel back and come again. Emefiele will regret this bcoz his motive has failed.

So you want to hold the rest of the country back cos your LG doesnt have a bank?

It is not Emefiele's fault that your LG is under-developed and doesnt have a bank. That priviledge belongs to your corrupt Governor, LG chairman, legislators, community leaders etc. But your ignorance, stupidity and/or selfishness blinds you to that fact.

BTW pls leave God out of your inane posts

Paper tiger ruling

Supreme Court will have to open its own bank for this one

pfadom:
This man is a cheap liar.

How on earth will a school write Osun State on the letterhead of A testimonial issued long before Osun State was created in 1991.

The mistake must then be prophetic.

IT WAS ISSUED IN 2018 NOT 1981

Why are Nigerians so mentally lazy and gullible?

planetx:
Why are all the other subjects pending?

Most likely WAEC never released a result for him in those subjects, cos he didnt sit for those exams and/or there were irregularities in his submissions

Sammy07:
This lie no hold water Abeq.

1. Were you the only one that has that 'mistake'?

2. How did the school know the name that'll be given to the 'yet to be created state'

The documents in question (statement of result and testimonial) were generated in 2018 using the current school template. They are valid and not forgeries

It is only in Nigeria, where we are too familiar with forgery and backdating, will an entity using a letter head with current name or address be accused of forgery.

If anybody who attended OAU when it was still University of Ife requests a transcript today, it will bear OAU and not University of Ife (that no longer exists). If the transcripts bears University of Ife, then its a forgery

More importantly, it is very sad that someone that could not pass a single class in WAEC is being celebrated as a governor. Next minute, same people will turn around and lament about the condition and direction of their state.

When a person is unqualified, the question of competence is moot.

The only institution with authority to determine the veracity (or otherwise) of a document is the issuing institution, which in this case is WAEC. Any credible court needs to follow their attestation.

Even if the accused presents multiple differing WAEC certificates, as long as WAEC attests to their veracity, no credible court can rule otherwise. Anyone that has an issue with WAECs attestation, first needs to sue WAEC and prove their attestation to be false.

naijaking1:

Once again, my question: since Sanusi didn't write the SAS while giving loans worth billions to Seawolf, did Ibru and Akingbola write the SAS while giving the loans Sanusi has dragged them about town for?

and I have told you that the SAS has nothing to do with the terms of a loan. It defines the rules for proper accounting.

If a loan is non-performing i.e. non-payment of interest and/or principal when due for 3 or more months, the SAS defines that the bank provision a specific fraction of its value. This has nothing to due with whether the loan was issued with or without collateral. They are two different things.

Great game from Barca and they clearly deserve the win. We 've played better, and didnt do ourselves any favors with missed opportunities.

Nice work by the guy. Congrats to him.
Seems like a late bloomer as he got an ND first before his BSc. Also, with his profile, would have expected him to be able to pursue his PhD in a more reputable school ( MIT, Stanford, Imperial, etc). He might still be 'under performing' and be capable of much more in the right environment.

Not surprising about the media's neglect of him being Nigerian, thats simply par for the course.

@edoyad
There is a difference between discovering and inventing

Azuka.O:

@ Biina and Bk, kindly answer this question posed above truthfully. You can see from my posts that I don't curse or attack any ethnic group. I just want us to understand each other and learn from the past.

Let us assume that  after the Jan 1966 coup Igbos provoked the North so grieviously that it was mandatory, as you said above, to retaliate and attempt to wipe them out. I asked in my former post: "When a Danish cartoonist made a caricature of Prophet Mohammed, what was the connection with the killing of Igbos in the North? Did Igbos descend from Denmark? Or was the mother of the cartoonist an Igbo woman?" Pls answer this question too. Did the Igbos provoke and ridicule the Northerners too to be attacked because of a Danish cartoonist?

I believe you are honorable men. So I am waiting for your truthful answer.

I have already answered the question (which initially was defined by 'killing spree') and given him pointers to two earlier conflicts in the north (jos and kano) involving Igbos. If he has a relevant point to make. he should do so and not ask rhetoric questions.

At no point did I say it was mandatory for the north to retaliate, but simply said I understood where they were coming from. For example, the northerners hold their leaders in almost god like status, particularly members of the Sokoto caliphate which included the Sardauna (crowned prince) Ahmadu Bello. It was this factor that precipitated the 1953 riots after the northern leader were embarrassed and ridicules in lagos for not supporting the motion for independence by 1960, and the Akintola led AG/NCNC team went to the north to campaign for self governance.

The danish cartoon were religiously motivated, and that the northerners are predominantly Muslims while the Igbos are predominantly Christians, simply added the ethnic coloration that some needed to paint the issue as being tribal (same as they did with the 1966 coup). The violence over the cartoons was not limited to Nigeria, but also occurred in other countries including Libya and Pakistan. There were peaceful demonstration in London as well.

Simple: Acute myopia and ignorance

naijaking1:

^^^
Did Ibru or Akingbola write the SAS?
Yet some of them have been persecuted for "giving out loans without adequate or no colleteral"
Your hypocrasy stinks to high heaven

Try not to make such declarative comments on issues you are less knowledgeable.

The Statements of Accounting Standards (SAS), which is published by the NASB, defines guidelines and principles to be observed in the preparation of financial statements. Specifically SAS 10 & 15 applies to Accounting by Banks and Non-Bank Financial Institutions. It is the SAS that defines how much provisioning should be made for non-performing loans, and has nothing to do with the due process of how the loan was granted (which is where collateral falls). Every company in Nigeria is expected to comply with the relevant SAS (or ICAN substitute for smaller entities). Failure to adhere to the SAS is tantamount to doctoring your books.

realmen:

the simple fact is that provisioning for non performing loans as stages and percentage, and banks according tho the financial standard being used b4 sanusi came in, spread the provision over a period of time. but sanusi just came and said the all banks must do 100% provision. that makes many of them to made provision in excess of their liquidity or leaving them with insufficient deposit base.
that explain why many of the banks are feeling relunctant to submit their financials to cbn then to publicize it. they prefer to be paying the penalty of 10k per day than to expose their yash or to be the first to show poor figures.
now , sanusi (CBN) want to go back to the old stye to spread the provisioning.

Thats incorrect and a misrepresentation of the facts.
There are standards for classifying loans as non-performing assets and provisioning for them, which are clearly defined in the SAS 10 as
- Interest and/or Principal outstanding for over 90 days but less than 180 days to be classified as 'Substandard' and provisioned at 10%
- Interest and/or Principal outstanding for over 180 days but less than 360 days to be classified as 'Doubtful' and provisioned at 50%
- Interest and/or Principal outstanding for over 360 days to be classified as 'Lost' and provisioned at 100%
So if the loan has been outstanding for a year, you will need to provision 100% for it.
Sanusi didn't write the SAS, the NASB publishes it and the current version has been in existence before Sanusi came into office. He simply required that the bank adhere to it and provide a true picture of their state.
In fact, the CBN got a waiver from NASB to suspend the paragraph requiring 1% general provisioning on performing loans to reduce the burden on the banks for the 2009 year (see http://www.nasbnigeria.org/news.php?news_id=7). He is also trying to review the requirements to make it easier for banks to provision, but it would be wrong to make the changes and apply them retroactively.

@Beaf
I see that you are still preaching your 'decentralization' nonsense. 
You are yet to detail how this your 'decentralization' will work and its feasibility.
You are simply misinforming and misleading those that are less knowledgeable.

Onlytruth:

Yea, I understand Igbo better. 
Was 1966 the first time Igbo were killed in the north?

Back to school.

unfortunately I dont speak fluent Igbo
If you have a point to make, proceed, else stop wasting bandwidth and storage space.

Onlytruth:

You expect me to answer that when you refused to answer my question? I am not your teacher. If you don't know the answer to that then why are you here arguing?

Seems you struggle with English comprehension. I have already given my answer in the previous post.

Onlytruth:

I have some questions for you on that: Was that the first time northerners embarked on a killing spree of Igbos in the north? Was 1966 even the third time?
And after 1966 has there not been countless killing of Igbos in the north?

When you have answered these questions, the lying party here becomes obvious! 

If you have evidence to the contrary please share
You can start with 1953 riots (or 1945 if you want to go further back)

Onlytruth:

Anyway, for the records, I don't bend facts. What I don't accept is marchiavellianism. If Gowon stopped the killings in the north (after the third wave of massacre against Igbos), the conflict could never have reached the civil war stage. There was a lot of restraint by eastern leadership then. The lie is that Ojukwu simply rushed off and declared Biafra after Gowon took over. There were series of events that preceded Biafra. The liars are those who discount those events.

You bend facts and misrepresent the truth when you make it seem like if the Northerners woke up one morning, smacked their behinds, and decided to go on a killing spree of the 'innocent' Igbos. There were preceding events in which the Igbos were not innocent.

Onlytruth:

The Senate presidency controlled by Igbo in the 1999-2003 dispensation was actually negotiated by the northern controlled government of Adulsalami Abubakar and was the same arrangement that produced Obasanjo. So don't credit that to Obasanjo!
As soon as Obasanjo took over, he started killing people all over the country (including Bola Ige from the same west), and did everything he could to undermine the Chuba Okadigbo's leadership of the Senate. As soon as Obasanjo settled in, he launched a war against Igbo leadership of the Senate and anyone who stood against him was neutralized.
When he "won" (actually stole it ) a re-election in 2003, he continued. When he was severally called out by the Igbo, he played a "God father" on Igbo by ensuring Igbo was completely schemed out in the new government of Yar adua.
You guys must think Igbo people are blind to these things. I'm glad that it was an Igbo Senate president -Ken Nnamani that killed Obasanjo's third (and life term) project. That muderfkcer will meet his waterloo soon.

You didnt answer the question of why they were removed?
what about ken Nnamani, how did he become senate president under Obasanjos watch?
Obasanjo must dislike Igbos so much that he made Soludo CBN governor and iweala minister of finance

Also irking to the northerners was, subsequent to the january coup, the photograph of the sardauna laying prone with his head under Nzeogwu boot, allegedly displayed by some Igbos in Kano.

From Major General Oluleye, 2nd in command of the 5th Battalion in Kano

A carefully orchestrated political violence erupted in Kano and spread to Katsina, Funtua, Sokoto, Maiduguru, and other places in a sporadic manner. The 5th battalion became extremely stretched in curbing the disturbances. Every Igbo person paraded himself as ironsi. Unwittingly, the Igbos displayed the photograph of Sir Ahmadu Bello, the Sardauna of Sokoto, in a prone positrion with his head under the jungle boot of major Nezeowu. It was displayed in homesand shops of the Igbos. Whee people did not notice the photograph; the would invite their attention to it. To the Nolrtherners they usually said, you see your papa under the foot of Nzeogwu.The intensity of the operations agaisnst the Igbos in the north was thus precipitated and accentuated by the Igbos themselves. The northerners planned dutifully as the Igbos continued to behave unchecked. The result was catastrophic. Most of the supreme commander's advisers, official and unofficial, were Igbonization-oriented and consequently their pieces of advise even through commissions were directed towards the selected aim which was far from being in the national interest

Onlytruth:

@ Azuka.O

You sound new to nairaland. Believe me we've been through this same issue multiple times here and the same folks from the west always justified the killing of innocent Igbo children both in the pogrom and the civil war itself.

Because they lack real rationale for their support of the evil acts, they always sound like a broken record (by implication): Igbos killed northerners and others first (at my count, about 12 politicians), therefore one dead corrupt politician from the north and west is equal to 5000 dead Igbo civilians and children, leading to 50,000 dead Igbo.
In their warped mindset, Igbo had to be dealt with enough for them not to retaliate! Do these people understand anything about human mind at all? 

You paint a picture of if the 50,000 igbos were killed the morning after the coup
1. There was a coup in which several northern leaders were killed by an Igbo dominated group
2. The igbo senate president handed over power (unconstitutionally) to an igbo military officer
3. the coup plotters were never prosecuted talk less of being punished
so what is your defence that it was not an 'Igbo affair'. 
Do you think the north were going to fold their hands and wait till the Igbos were ready to pity them?
You cannot claim to be the innocent victim. All parties are guilty.

To be honest, I think the Hausa is more understanding and sophisticated than the Yoruba on this issue. They know that there can never be peace in Nigeria until the Igbo is assuaged. Guess who tried most to marginalize the Igbo in the political leadership and standing in Nigeria? It wasn't a northerner. It was Obasanjo! Under him, Ndigbo could only be the deputy senate president. I believe the Yoruba is the main enemy politically speaking in Nigeria. So don't be shocked by views from people like Biina and his  kid brother called bk/babe97 whose Igbo father fled after impregnating his mother, so now he lives to hate Igbo people.

deputy senate president? typical lies and trying to rewrite history.
So where were Enwerem and Okadigbo from and why were they removed?

Nigeria is such a funny country! Mind you, same people are today calling for "revolution", "restructuring", "true federalism", "national conference" and all other similar terms .
I cannot laugh again.

Its people like you that hold Nigeria back with your tribalism

Azuka.O:

The military was not in govt between 1960 and Jan 1966, so I don't know why u brought this up. The casualties of the first coup were mainly civilian rulers because it was a civilian govt. The casualties of the 2nd coup were mainly military rulers because the military was in power. So pls let's not argue on technicalities, since this is not a law court.

You said: "It is typical that retaliations are worse than the initial attack. The north tried to make sure that there would no reprisals from the igbos.".  That is why I said you were trying to justify the senseles and systematic murder of innocent Igbo civilians, an attempt to eliminate an entire race. As I said, pray such fate does not befall you in future.

I said that the killing of non-Igbo leaders in the Jan 1966 coup was not good at all. But the North retaliated in July by killing the head of state (Igbo) and other Igbos in govt. That was not enough. The murderous gang went after helpless children, women and men and sought to wipe out a race and you tell me that you know where the North is coming from on that. Tufia! I will never support evil.

Dimka from the Middle-Belt killed Murtala Mohammed in the 1976 coup. Why didn't the North go from house to house to wipe out the Middle-Belters? Orkar/Ogboru carved out the North from Nigeria and attempted to kill Babangida in the 1990 coup, why didn't the North retaliate by wiping out the Middle-Belt and Bendel (there was no Delta then) people?

When a Danish cartoonist made a caricature of Prophet Mohammed, what was the connection with the killing of Igbos in the North? Did Igbos descend from Denmark? Or was the mother of the cartoonist an Igbo woman?

For several decades the Igbos have been targetted for elimination in the North for no just cause. Today it is happening to the Jos people. Tomorrow it may happen to you. What I expect from people like you who have the advantage of going to school and seeing the light is to condemn any act of injustice wherever you see it. When Abiola was denied his mandate, I shouted in my corner and through the media that it was an injustice. When Obasanjo wanted to mess up his VP Atiku, I shouted that it was wrong and unjust. When Ribadu was treated like a common thief by Yar'Adua, I shouted too. When Jos children and women were murdered some weeks ago, I shouted; I was horrified, even though the Jos people participated in the killing of Igbos in 1966/67. It does not matter if the victim is your enemy; once you see injustice anywhere, condemn it in its entirely. Few guys like Soyinka raised their voices and wanted the ugly descent into anarchy to stop but were imprisoned.

The mass murder of Igbos in the North in their thousands was the main reason Igbos felt they were not wanted in Nigeria. And Igbos also felt very disappointed that other Nigerians (from the West, Mid-West and present-day South-South) kept quiet and even tacitly gave their support while they were being eliminated by Northerners. 40 years after that ugly incident, the least any right-thinking person can do is to acknowledge that the massacre of Igbo civilians in 1966/67 was completely and inexcusably wrong and unwarranted. There should be no iota of justification for that senseless act whatsoever.

Is this suppose to be a game with pre-defined and accepted rules? There was a coup in which Northerners (both civilian and military) were the main victims. The north retaliated, be it at a more aggravated level and you are now playing the victim card. Why dont you suggest that the same exact number of people should have been killed?  You are the one that is talking technicalities.

I have said already that I was not trying to justify nor approve the pogrom, but it would be disingenuous to condemn the north solely, when they were the victims up to the counter coup. You can accuse the north of over^10 reacting, but you cannot accuse them of firing the first salvo. If the father of A kills the father of B, and B kills A, his father, and the entire A family of A, I dont not approve of B's action but I can appreciate where he is coming from, cos A started it.

As to the case of dimka, he was summarily executed a few weeks after his aborted coup, and the likes of Danjuma didnt harbor him. Same applies to Orkar etc. Ironsi did no such thing. If Ironsi had executed Nzeogwu & co, it would have gone a long way to pacify thought that it was an 'Igbo coup'. Since the events of 1966, there has been no love lost between the north and the Igbos. Subsequent actions are just a continuation of it.

The Jos events didnt start with the recent attacks and have been ongoing for a while. It is disingenuous to sample just the last event in isolation.

It is often Igbos that have a colored definition of justice, and never see anything wrong in the decision and/or actions of their kinsmen. We are in such a bad state as a nation because several of our leaders from the different parts of the country were bad and selfish, but some posters would like us to see Ojukwu as a flawless leader, Ironsi as being innocent and Ifeajuna and co as heroes, while the north are responsible for all Nigeria's problems. Thats simply BS. There is enough blame to go around all the tribes.