Saturday, September 26, 2020
Breaking News
Home » All News » Court refutes anti-cash-less policy suit

Court refutes anti-cash-less policy suit

The Federal High Court sitting in Abuja has dismissed a suit instituted against the cash-less policy initiative of the Central Bank of Nigeria, CBN.

In a suit filed on behalf of eleven riverine communities namely, Akpakpa, Ogidigben, Madagho, Ijalla, Kantu, Omadino, Ogheye, Dhege, Ajudaibo, Obaghoro and Ikoghoro, all in Delta State, challenging the policy which restricted cash withdrawals and lodgments to a daily limit, the Judge, Honourable Justice Balkisu Bello Aliyu held that, the policy directive issued by the respondents, the Central Bank of Nigeria and its governor does not contravene the fundamental rights of the applicant under section 44(1) of the Constitution of Nigeria as amended or under any section in chapter IV of the said constitution.

Justice Aliyu also stated that the applicant is not obliged to transact banking business with any bank at all. But where he decides to do so, he must comply with any regulations the respondents issued for the regulation of that sector.

The judge, therefore, declared that she found no merit on the suit and it was dismissed accordingly.

The judge further ruled that in as much as the government will grant licences for the establishment of banks and other financial institutions for the benefit of its people, the choice of whether or not to make use of such institutions is entirely the discretion of the people.

Meanwhile, a group of armed robbers, on Tuesday night, raided three commercial banks and the police area command station, in Taraba State killing a police inspector and a passer-by in the process.

It was also gathered that the armed robbers got access to the banks’ safe using explosives and equally destroyed a large part of the police area command in the local government including some trucks and cars belonging to officers and the command.

The operation, which started at about 10.p.m. on Tuesday night, lasted till 2.a.m. after which a detachment of military officers in the zone headed to the scene, leading to the arrest of two of the gang members after the exchange of gun fire.



Check Also

Gov. Obaseki leads delegation to Buhari, riles out return to APC

Tweet Edo state governor Godwin Obaseki has ruled out the notion of returning to All …

Scroll Up