Notes

SERAP asks CBN to account for N100bn dirty notes

5 months ago925 min

The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Central Bank of Nigeria “over the failure to account for and explain the whereabouts of the over N100bn ‘dirty and bad notes’ and ‘other large sum of cash awaiting examination’ which are kept in various branches of the CBN.” In a suit marked FHC/L/MSC/441/2024 filed last week at the Federal High Court in Lagos, SERAP is asking the court to “direct and compel...

by Probitas

Metro

Court jails Akwa Ibom man for spraying naira notes

5 months ago813 min

The Akwa Ibom Zonal Command of the Economic and Financial Crimes Commission has secured the conviction and sentencing of one Etiusen Stephen for spraying naira notes before Justice M.A.Oyetenu of the Federal High Court sitting in Uyo, Akwa Ibom State. This was disclosed in a statement posted on X.com on Wednesday. Stephen was arraigned on July 19, 2024, on a two-count charge of naira abuse, which violates Section 21 of the Central Bank of Nigeria...

by Probitas

Metro

EFCC arrests Kano banker, three others for mutilating naira notes

5 months ago894 min

Operatives of the Economic and Financial Crimes Commission have arrested a banker, Kamaluddeen Lawal, and three businessmen for recycling and manipulating the contents of the naira notes. Lawal was arrested alongside Ismail Ilu, Lamido Bala and Abba Mohammed at Unity Road, Kantin Kwari Market in Kano State. A statement on Tuesday by the EFCC’s Head, Media and Publicity, Dele Oyewale, said the suspects were arrested following an intelligence on their activities. He said, “Operatives of...

by Probitas

BREAKING: Nigerian High Court Dismisses Suit Challenging Arabic Inscriptions On Naira Notes

5 months ago825 min

Justice Yellim Bogoro of the Federal High Court in Ikoyi, Lagos, on Tuesday, dismissed a case brought by Chief Malcolm Emokiniovo Omirhobo challenging the inclusion of Arabic inscriptions on Nigerian currency – naira. Citing the precedent set in Chief Gani Fawehinmi vs. Akilu (1998) 2NWLR (Part 102), 122 at 169, Justice Bogoro ruled that while Omirhobo has the standing to bring the action, he failed to provide sufficient evidence that the Central Bank of...