Central Bank – Prime Pointers

Supreme Court affirms AGF’s consent before monetary judgment enforcement against govt agencies

February 24, 2025February 24, 2025 admin

The Supreme Court has affirmed the provision of Section 84 of the Sheriff and Civil Process Act (S&CPA) requiring prior consent of the Attorney General before the initiation of garnishee proceedings to enforce monetary judgment against government or its agencies. The apex court’s five-member panel, in a split decision of four-to-one, declined to examine the constitutionality or otherwise of the provision even though the dissenting decision declared Section 84 of the S&CPA unconstitutional. The judgement was on an appeal marked: SC/CV/268/2021 filed by the Central Bank of Nigeria (CBN) against…

Alleged rights breach: Ex-presidential aspirant files £990trn suit against CBN, others

January 21, 2025January 21, 2025 admin

Mr Tunde Omosebi, a former presidential aspirant on the platform of All Progressives Congress (APC) in the 2023 elections, has sued the Central Bank of Nigeria (CBN) and others for 990 trillion pounds in damages for allegedly violating his fundamental rights.Omosebi, in the suit filed before Justice James Omotosho of a Federal High Court in Abuja, also prayed the court for an order converting the CBN to a Reserve Bank of Nigeria (RBN).He also urged the court to make an order that the commercial banks involved in the alleged financial…