Skip to main content

‘Freezing of #EndSARS promoters account by CBN an abuse of regulatory powers’

Joseph Jibueze

 

A CIVIL society group, Access to Justice (A2J), has expressed dismay at the order of Justice Ahmed Mohammed of Federal High court Abuja granting the Central Bank of Nigeria (CBN) the power to freeze the account of 20 promoters of #EndSARS protest.

A2J said the order was a deviation from the rule of law.

The group in a statement titled, “CBN’s Descent into Partisan Political Arena and Abetting of Political Repression is Appalling and Gross Abuse of its Regulatory Powers” issued in Lagos and signed by the Convener, Joseph Otteh said the order  was “regrettable and unfortunate.”

A2J noted that the CBN obtained the order ex-parte, without hearing the other side.

It said: “Settled jurisprudence directs courts to avoid the use of ex-parte orders where extreme urgencies do not exist but Hon. Justice Mohammed nevertheless went ahead to issue one, when there was, ostensibly, no grave urgency in the application by the Central Bank.

“There is no tenable reason why the court could not request that the persons who would be affected by its order be put on notice of the application so they can defend themselves and show reasons why the order(s) should not be made against them.

“Hon Justice Mohammed’s order, is, therefore, regrettable and unfortunate; it is not consistent with established judicial precedents, and will undermine public confidence in the Judiciary.  Asking those caught and crippled by the order to apply to court for review after the order was made is like medicine after death. They ought to have been heard in the first place, before the order was made!”

Access to Justice denounced the actions of CBN, noting that the freezing of accounts linked to \\EndSARS protesters began well before the court issued its orders, specifically in October 2020, at the time the EndSARS protests were taking place and were adjudged relatively peaceful.

According to the group: “The CBN reportedly ordered commercial banks and payment platforms to freeze accounts linked to persons associated with the protests. Following up its actions afterwards by seeking a court order shows the CBN knew it was acting illegally when it directed commercial banks to freeze the aforesaid accounts, but went ahead anyway to do so.”

Read Also: #ENDSARS: Plateau Panel begins sitting, receives 44 petitions

The group stressed: “court orders do not have a retrospective effect, therefore the CBN’s prior actions were wholly unlawful and unconstitutional.

“This organisation is concerned about the growing erosion of the CBN’s independence and political neutrality.

“The CBN is transforming into a partisan political organ of the government and putting its vast regulatory powers into illicit partisan political uses, for the purpose of suppressing the legitimate exercise of constitutional rights of freedom of speech and expression. This is appalling for a Central Bank for many reasons.

“First, the CBN arguably has no legal powers to direct the freezing of accounts of anyone on account of a civil protest. The CBN is a regulator whose objects are defined by section 2 of the Central Bank of Nigeria (Establishment) Act 2004. Those objects are to; a) ensure monetary and price stability; (b) issue legal tender currency in Nigeria; (c) maintain external reserves to safeguard the international value of the legal tender currency; (d) promote a sound financial system in Nigeria; and (e) act as banker and provide economic and financial advice to the Federal Government.

Clearly the outlined “objects” of the CBN does not include actions related to financial transactions in support of legitimate expressions of political grievance, or speech. By its actions the CBN is an enabler of political and regime repression, and is actively supporting the suppression of civil expression and dissent. This is so particularly troubling given that the protests related to legitimate concerns which the government acknowledged to be genuine

“Secondly, the CBN has no power under law to act as a criminal agency or law enforcement arm of the government. If any crime is alleged to be committed by the protesters using their banking accounts, a report of the alleged crime(s) should have been made to a duly established law enforcement agency for investigation.

“Such an agency can take any action relevant to the investigation, including applying for a court order to freeze account directing that the accounts be frozen in the absence of a criminal complaint, the CBN, which has no direct relationship with the account holders, has usurped the powers of law enforcement authorities, and makes itself, illegally, accuser, investigator and prosecutor. In so doing, it acts well outside the perimeters of its statutory powers.”

A2J expressed worry that the implications of the CBN’s actions are huge and very troubling. It said that if the CBN gets away with this, then civil rights and political liberties are now greatly endangered, given that the bank can replicate the same actions against political opponents of the government, and civil society, in order to weaken them, deprive them of the means and ability to function or hold government accountable.

It described the development as an unfortunate and probably unprecedented corruption and distortion of the role of a Central bank adding “the CBN Governor is taking the Bank down a very contagious, perilous, slope.”



from Latest Nigeria News, Nigerian Newspapers, Politics https://ift.tt/2Uz6EAc
via IFTTT
Labels:

Comments

Post a Comment

We're glad you want to comment, kindly avoid spamming the page, thanks

Popular posts from this blog

The transformation of UNIBEN’s campus

Ekehuan Campus of the University of Benin (UNIBEN) was neglected for many years by successive administrations in the institution. However, the story has changed as the campus has witnessed a transformation, reports IFUNANYA OSAKWE (UNIBEN).   The Ekehuan Campus of the University of Benin was the first campus of the institution in Edo State when it was founded in 1970. From the Ekehuan campus, it moved to Ugbowo Campus, which is the permanent site. As a result of this movement, the Ekehuan Campus, which houses the Mass Communication Department, Fine Art Department, Theatre Arts Department, Early Childhood Education Department and Public Administration Department suffered neglect for many years. The classrooms and hostels were not what they used to be. There were incessant protest over lack of light and water by students in Ekehuan campus. Often the protests were said to have achieved very little result as promises to enhance welfare were unfulfilled. On many occasions, students...
Post a Comment
Read more

Boko Haram lures recruits with N5,000, says Zulum

Our Reporter Borno State Governor, Prof. Babagana Umara Zulum, yesterday said Boko Haram fighters lure recruits with as low as N5,000. The governor also reveals how his government sustained the fight against insurgents in the state in the last two years. He made the revelations in his statewide broadcast to commemorate this year’s Democracy Day (June 12, 2021) and his second anniversary in office, stating that “of all Nigeria’s 36 states, none is faced with the level of Borno’s security and by extension, social and economic challenges. According to him: “From day one, we were faced with an acute humanitarian crisis, particularly in northern and some parts of the central senatorial zones. As such, we made it a policy that as governor, I assume the role of chief humanitarian officer for different reasons. “On one hand, it was our duty to deliver help to our fellow citizens that were either internally displaced or taking refuge in neighbouring countries. “On the other hand, there was ...
Post a Comment
Read more

Edo Museum of West African Art

The Benin Kingdom is known for its arts, many of which are scattered in museums around the world. The Edo State government’s decision to establish the museum of West African art will further the state’s image, writes Robert Egbe   On Friday, November 13, Edo State Governor Godwin Obaseki announced a post-COVID-19 recovery plan to strengthen the public sector. But perhaps the most interesting component of his proposal was the announcement of a new partnership that seeks to return Edo State to its competitive advantage many centuries ago, and establish the Edo Museum of West African Art (EMOWAA). It is a fact that the Benin kingdom was one of the most powerful and creative kingdoms in Africa, with its art and craftmanship so globally acknowledged and renowned that European explorers marvelled at the level of sophistication of the art and culture emanating from this kingdom. Very few would argue with the fact that at some point in its history, this great kingdom was regarded as th...
Post a Comment
Read more