MrMcJay's Posts
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plaindealer:Get someone to help you explain the post. I don't think you understand what happened. |
Aufbauh:Read the Ruling well. The accounts have been unfrozen and they have continued their business. If ANY bank restricts the account of any customer for trading in Crypto, such customer can sue the bank for heavy damages and the bank must pay. Kuda will likely face similar lawsuits soon. As at today, there is no law that says Cryptocurrency is illegal. That is what the court says. |
A federal high court sitting in Abuja has vacated the interim order freezing the accounts of Rise Vest Technologies Ltd, a fintech company. The Central Bank of Nigeria (CBN) had on August 17, 2021 secured, through an ex parte motion, an order freezing the accounts of some fintech companies for 180 days over alleged forex infractions. The affected companies are Rise Vest Technologies Limited, Bamboo Systems Technology Limited, Bamboo Systems Technology Limited OPNS, Chaka Technologies Limited, CTL/Business Expenses, and Trove Technologies Limited. Rise Vest Technologies Ltd, in a motion filed through its counsel, Seni Adio SAN, had submitted that there was no evidence that it engaged in unlawful conduct, adding that the CBN did not meet its burden of proof in support of its allegations. Responding, Mathew Onoja, CBN’s counsel, argued that the ex-parte order of the court was proper, lawful, and valid. He contended that the order was in accordance with the provisions of Section 97 (1) of the Banks and Other Financial Institutions Act (BOFIA) 2021, which empowered the plaintiff/respondent (CBN) to invoke the jurisdiction of the court via an ex parte application. Ruling on the application on Monday, Taiwo O. Taiwo held that the CBN could not rely on a circular to freeze the bank account of a company The judge noted that the CBN failed to provide any law showing that it is illegal to deal in cryptocurrency in Nigeria, adding that the CBN circular, referenced as BSD/DIR/PUB/LAB/014/001 of February 5, 2021, is not a law. The judge, among others, held that although the CBN has the power to investigate any infraction, the infraction must relate to BOFIA or any other enactment administered by the regulator. “I have perused the counter affidavit of the respondent and I see that the reason for freezing the account of the applicant is based on the alleged infraction of the circular of the CBN. The law is trite that any conduct that must be sanctioned must be expressly stated in a written law,” he said. “Being unknown to law, circulars cannot create an offence because it was not shown to have been issued under an order, Act, Law or Statute. Sources: https://www.thecable.ng/court-unfreezes-rise-vests-accounts-says-cbn-circular-to-banks-not-a-law/amp http://saharareporters.com/2021/10/25/breaking-nigerian-court-unfreezes-accounts-blocked-cryptocurrency-trading-big-win-traders https://www.google.com/amp/s/www.ripplesnigeria.com/court-orders-cbn-to-unfreeze-fintech-companies-accounts/%3famp |
dan56:I taya for the guy o |
larryking540:Simply because I refused giving you 10k ![]() See tears ![]() Giving 20k is not my problem. The problem is that you're not worth it. Get that into your head. |
Buhari is surrounded by those who don't tell him the truth. The other day, it was the AGF caught with Crypto icon on his phone. I'm sure that if you check Binance, you will see Malami on P2P looking for "sweet rates". |
jumper524:There are stages of escalation. Pnd, ask the customer to provide docs for proof of source of funds. Inviting the Efcc is an overkill and I'm afraid for Kuda. Most of their customers are young people who will never forget this. |
larryking540:No one gives a Bleep about you. Why should I send you 10k? |
Jigawa state's IGR for half of 2020 can not buy a block of flats in Ikoyi. Jigawa state's entire IGR for 2020 can not buy 41 BRT buses. If the Southern States win this VAT battle, states like Jigawa will be exchanged for iPhone 13 pro max. |
larryking540:I gree. It is only on Nairaland people like you can open mouth where I'm talking. No be mouth. |
airsaylongcome:Stop arguing with unexposed people. You see them hunting bats to eat and putting it on front page. |
My classmate in the University got compensated by zenith bank cos their staff called Policemen and the Mopol didn't allow him leave their branch for just 30 mins. They said he was rough and looked suspicious. new era foundation wrote them and he got paid 3M with plenty 'we are sorry sir' around 2007. Lots of lawlessness going around today. |
larryking540:Go ask Efcc or Kuda to pay you salary for defending them. |
larryking540:Defend ordinary 800k ![]() Poverty is a curse. |
People fail to understand that you can right a lot of wrongs through litigation. Get to know your rights as a citizen and get a lawyer to advice you. By the time the Efcc recovers 5 Billion a year but spends 10 billion on judgment debts and legal fees, they will restructure their operations. As for Kuda, I really pity them. |
younowell:Nigeria is a country that feeds on its young. There is no redemption for such a place. |
tollyboy5:Thanks man. Good to hear that you're doing great. |
Bahamas95:Thanks man |
Justice Abang stressed that though the law made provision for a maximum sentence of 14 years, he said he was moved by Maina’s plea for mercy. Can you imagine. |
Jan 5, 2015. Lost my only sibling. She survived the accident, was in a coma. Needed an MRI scan, only govt hospitals had the machine, government hospitals were on strike. She was 23, A lawyer. A part of me died that day. |
I only hope he's found alive. |
No Mopol, no escort, nothing. Come to Naija and see people who bought accidented tokunbo Lexus using Mopol to oppress their mother's mates. |
OP, don't go around the corners. If you want to attack me, come out boldly and mention my name. |
akunjohn:Learn to make use of your phone and read wide. https://mobile.reuters.com/article/amp/idUSKBN0FS19L20140723 https://www.bbc.com/news/world-africa-28447204.amp |
They're setting you up. Go find out what Abba Kyari as Chief of Staff did to Eyo Ita. It is probably that 5k that will send you to jail. |
You get to a level in life where buying an armoured benz for 400m is not a luxury. In July 2014, Buhari was almost killed in Kaduna by a roadside bomb and it was his armoured Landcruiser that saved him. It was so bad that after the bomb blast, he came down from the vehicle and escaped from the scene on foot. His vehicle was really damaged. 14 people died in the blast. With the way we're going in Nigeria, for someone contesting state or national elections in 2023, armoured vehicles should be in your starter pack. |
Adamma91:You can actually hustle successfully without casting aspersions on professionals. Cheers. |
pocohantas:
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Nonsense |
kayusely70:Both exceptional leaders but political lightweights. Can't work. |
This permutation below will scatter whatever Northern candidate PDP brings. Osinbajo/Ganduje Osinbajo/Tambuwal Osinbajo/Kwankwaso There's going to be realignments before 2023. Party membership can't stop it. Politicians will decamp and collect ticket. That one is sure. Don't be surprised if you see Osinbajo and Kwankwaso or Ganduje on the same ticket tomorrow. |
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