Court orders Nigerian Government to re-establish People’s Bank

The court also ordered the Nigerian Government to establish a Nigerian education banks.

The Federal High Court has ordered the Nigerian Government to take urgent steps towards the re-establishment of the People’s Bank of Nigeria.

 The order was made in a landmark judgment delivered last Friday by Justice Mohammed Idris in the case of activist lawyer, Femi Falana v Attorney-General of the Federation, Mohammed Adoke.

The plaintiff had contended that the People’s Bank of Nigeria was illegally abolished when the law establishing it had not been repealed by the National Assembly. Mr. Falana prayed the court to order the federal government to re-establish the bank.

In opposing the case, the Attorney-General challenged the locus standi of the plaintiff and the
competence of the suit on the ground that it was statute barred.

In his reply to the objections to the suit, Mr. Falana submitted that the doctrine of locus standi has given way to public interest litigation in Nigeria.  He cited the case of Fawehinmi v The President

and several other authorities to back up his submissions. Saying that the federal government has acknowledged that poverty was on the increase in the country, Mr. Falana submitted that it was unjust to abolish the bank when the Central Bank of Nigeria had recently bailed out commercial banks, collapsed by the rich and it is currently wiping out the toxic debts owed by the same set of few pampered citizens.

Recalling that the People’s Bank was established to cater for underprivileged citizens who could not access loans in commercial banks due to lack of collaterals, Mr. Falana pointed out that the
federal government abolished the bank while it has continued to fund the Bank of Industry, Infrastructural Bank and others only patronised by the rich.

In upholding the contention of Mr. Falana, the judge held that the plaintiff had established his locus standi as a concerned citizen in line with the new trend on legal standing in public interest
litigation in Nigeria.  The judge ruled that since the People’s Bank of Nigeria Act (Cap P7) Laws of the Federation of Nigeria, 2004 is a valid and existing law, the decision to scrap the bank by the federal
government is illegal and unconstitutional.

He said that as a continuous violation, it is not affected by the Public Officers Protection Act. Justice Idris, therefore, ordered the federal government to re-establish the bank to continue to give soft loans to underprivileged citizens in line with the provisions of the People’s Bank of Nigeria Act.

Nigerian education banks
In the same vein, the same court had last month ordered the federal government to establish the Nigerian education bank to enable indigent undergraduates to access loans and pursue their degree programmes in tertiary institutions.  The suit, praying for the establishment of the bank, was also filed by Mr Falana.

The lawyer had argued that the bank would assist thousands of undergraduates who are being forced to
abandon their studies on account of skyrocketing school fees. While noting that the law had not been implemented since it was promulgated in 1993, Justice Idris agreed with Mr. Falana that the federal government is under a legal obligation to establish and fund the bank pursuant to the Nigeria Education Bank Act.

In his reaction to the judicial orders for the revival of the People’s Bank and the establishment of the Nigerian Education bank, Mr Falana said that “Justice Mohammed Idris deserves commendation for upholding two fundamental welfare laws in the country.

“With the avowed commitment of the federal government to poverty alleviation, I do hope that both judgments will be complied with without any delay. By encouraging public interest litigation, Justice Idris has challenged progressive lawyers to use the instrumentality of the law to defend
and protect the interests of the majority of our oppressed people.

“More importantly, the judge has reminded the defenders of market fundamentalism in government that the State has a duty to promote the welfare of all citizens particularly the economically disadvantaged segment.”

Dan Foster Quits Inspiration Fm

One of Inspiration Fm’s prominent staff, Dan Foster who left Cool Fm, to be with them in 2009 has quit. A lot of his fans have been wondering why Dan hasn’t been on air, and there were unconfirmed reports that he had resigned from the radio station.


Anyway, Dan has let the big cat out of the bag this morning, when he took to his twitter page to announce his new programme on radio with City Fm. Dan appealed to his fans to tune into the radio station and listen to his programme which would run every morning from 6am – 10am, weekdays.

See his tweets confirming he now works with City Fm below;

Gov. Fayemi’s Speech After Defeat

Yesterday, Ekiti State decided. Following the gubernatorial elections held in the land of honour, Ekiti State, Nigeria, the Independent National Electoral Commission (INEC) has officially returned the candidate of the People’s Democratic Party (PDP) as the winner of the election.

If indeed this is the will of the Ekiti People, I stand in deference to your will. If the result of the elections is an expression of the voice of our people, we must all heed your voice.

I have just spoken with my brother, Mr. Peter Ayodele Fayose, congratulating him on his victory. In a few hours from now, I would be meeting the Governor-elect to discuss the future of our dear state and how we would work together to institute a smooth transition programme.

It has been a hard fought election. As expected, in the course of the campaigns, there were unsavory episodes as the candidates toured the nooks and crannies of the state to sell ourselves to the people. Elections tend to be highly divisive affairs that often see brother rising against brother.

Despite our diverse party affiliations, and regardless of which way we voted on Saturday, we must remember that we are all sons and daughters of Ekiti State. Ekiti is ours to build together.

On our part, over the course of the campaigns, we presented our scorecards before the people of Ekiti State. We never at any point took your support for granted.

 We campaigned, we canvassed and we traversed the nooks and crannies of this State. Our performance and achievements in office will remain the backdrop against which the next government and indeed future governments will be assessed.

We are proud that with the support of Ekiti people, we have raised the bar of excellence in governance. In all, we gave our best, for conscience and for posterity.

Indeed a new sociology of the Ekiti people may have evolved. However, the task of understanding how the outcome of this election has defined us as a people will be that of scholars.

 For us as an administration and a cadre of political leaders in Ekiti State, we have fought a good fight, we have kept faith.

To members of our party, our campaign team and indeed all Ekiti people who defied the siege on our state to cast their votes for our party, I salute your exemplary courage and doggedness in the face of harassment.

Thank you for staying the course. The incidences of brazen harassment, intimidation and allied infractions on fundamental human rights, which many of you suffered in the hands of agents of the state, would be documented and communicated to the appropriate authorities, for the records.

I thank you all for listening.

May God bless the land of honour, Ekiti State, Nigeria.

May God bless the Federal Republic of Nigeria.

Dr. Kayode Fayemi
Governor, Ekiti State
Sunday, June 22, 2014

69-Year-Old Man To Spend Next Six Months In Jail In Abeokuta

Mr. Arolagbade was asked to spend the next six month in jail because of fraud.

It was gathered that the accused had unlawfully obtained the sum of N90,000 from one Bosede Sojirin on April 3, 2012 at Abiola way, Abeokuta under false pretence to secure a- three -bedroom flat for her

Arolagbade was charged with two counts of fraud and stealing.

The prosecuting officer, Sunday Eigbejiale, an inspector, said the accused did steal the sum of N90,000 property of Sojirin.

He said the offence committed by the Arolagbade was contrary to and punishable under section 419 and section 390 (9) of the Criminal Code Laws of Ogun State, Nigeria 2006.

The counsel to the accused, however, prayed the court to temper justice with mercy. He pleaded that the accused person was old and should be given option of fine.

The presiding magistrate, Martins Akinyemi, found the accused guilty of the two counts he was accused of , adding that the case had suffered several adjournments in instant of the accused to be able to settle the debt he owed but failed to do so.

He later sentenced the accused to three months imprisonment on count one and three months imprisonment on count two, which he said, would run concurrently.

Obama encouraging family-friendly work policies

 

President Barack Obama is encouraging more employers to adopt family-friendly policies by hosting a daylong summit Monday, even though the U.S. government doesn't always set the best example.  

The United States is the only industrialized nation that doesn't mandate paid leave for mothers of newborns, although Obama says he'd like to see that change.

"Only three countries in the world report that they don't offer paid maternity leave — three — and the United States is one of them," Obama said in his weekly address. "It's time to change that. A few states have acted on their own to give workers paid family leave, but this should be available to everyone, because all Americans should be able to afford to care for a family member in need."

California, Rhode Island and New Jersey have a system of paid leave, but it's unclear how Obama would fund a national system. Obama has not endorsed legislation that would create one funded by a payroll tax, and he pledged in his 2008 presidential campaign not to raise taxes on families making under $250,000 a year.

Obama adviser Valerie Jarrett said in a conference call with reporters Sunday that the president is trying to start a national conversation to explore the issue.

"Cost is an issue for any federal program and we need to make sure we do this in a way where we are not raising taxes on middle-class families," she said. "But we also know what a good investment in our workforce it would be if they had paid leave, and that investment will pay great returns."

While some companies offer paid family leave to attract workers, the 1993 Family Medical Leave Act only requires that employers provide unpaid leave for medical and family reasons.

When Obama came to the White House, he instituted six weeks of paid leave for his workers when they have a child, get sick or injured or need to care for an ailing family member, using his authority to set his staff's compensation under the personnel code. He does not have the power to award paid leave to other federal workers without congressional action since they are covered under a different section of law. The White House has supported the goal of legislation introduced by lawmakers to change that, but it has yet to get through Congress.

Despite the paid leave for White House staff, the challenges of balancing parenting and working are even evident there. The president's top aides include several dads of minor children but hardly any mothers with school-age kids — National Security Adviser Susan Rice being one prominent exception.

"It is a very challenging and demanding environment" for parents, Obama senior adviser Valerie Jarrett said at a media availability hosted by The Christian Science Monitor. "And I think part of what we have to achieve here is to make it easier — that doesn't mean it's going to be easy — it's just going to be easier. And I think that's what the private sector acknowledges."

The summit being held at Washington's Omni Hotel will highlight businesses with family-friendly benefits to hold up as best practices — Obama says child care and flexible work schedules also are vital benefits. Executives representing Gap Inc., PriceWaterhouseCoopers, Johnson and Johnson, Goldman Sachs, Shake Shack, Cisco Systems and Intel Corp. are participating in panel discussions at the summit.

It also comes in a midterm election year focused on women voters, and the White House was devoting all its star power to the event. Obama planned to speak midday and have a meeting with business leaders. Vice President Joe Biden and his wife, Jill, planned to open the event, first lady Michelle Obama will deliver a closing speech and several other administration officials are participating on panels.

Obama planned to issue a presidential memorandum Monday directing federal agencies to expand flexible work arrangements when possible. Obama also planned to urge Congress to pass legislation requiring employers to accommodate pregnant employees so they can continue to perform their jobs. He also is ordering the Labor Department to create an interactive map that shows the rights of pregnant workers in each state.

How Michael Jordan Made His $1 Billion

 

It’s a well-known story in sports lore: After Hakeem Olajuwon was taken first in the 1984 NBA draft, the Portland Trail Blazers selected Sam Bowie next. The player they left waiting on the board? Michael Jordan.

That was 30 years ago this week — June 19, 1984. Jordan, of course, was selected by the Chicago Bulls, beginning an ultra-successful professional career that would include six championships and the building of a brand that still transcends the basketball court. As the NBA Draft gets underway Thursday night, an elite handful of prospective draftees can only hope to emulate Jordan’s success.

Jordan played his last NBA game in 2003. Ten years later, he earned a cool $90 million, according to Forbes, thanks largely to royalties from his deal with Nike. That was more than he earned in any year during his playing days — and more than any other athlete, retired or active, except for boxer Floyd Mayweather. 

(Fortune estimates that Mayweather will earn $105 million this year, and says that’s a “very conservative” approximation.) The Jordan brand now generates about $2 billion in revenue for Nike, with the 51-year-old superstar getting a cut of every sale.

That earnings power helped Jordan’s net worth climb past the billion-dollar threshold earlier this month, but his ownership stake in the Charlotte Hornets is his most valuable asset. Forbes estimated Jordan’s net worth at roughly $600 million and valued his ownership share of the team, which has reportedly climbed from 80 percent to 89.5 percent, at roughly $400 million.

Related: Michael Jordan Has Only Now Become a Billionaire

Jordan’s legend still carries weight from the sports fan’s perspective, too. In a Grey Flannel Sports Memorabilia auction that ended June 18, a Michael Jordan 1984-85 game-used road jersey — from a rookie season in which he started all 82 games and averaged 28.2 points per game — sold for $20,897 ($25,076 including auction fees).

In the same auction, a signed pair of Jordan’s game-used sneakers from Game 3 of the 1996 NBA Finals sold for $14,272 ($17,126 including auction fees). By comparison, the next two NBA memorabilia pieces offered in the auction — a Magic Johnson rookie jersey and a Shawn Kemp jersey — sold for a combined $15,112.

Nyako’s Impeachment: Group Hails Adamawa Assembly

The United Nigerians Forum, a civil rights group, has described the impeachment notice served the Adamawa State governor by the State Assembly as a brave move which showed the independence of the House.

Speaking in Abuja, the convener of the forum, Comrade Umar Farouk said for democracy to thrive, every arm of government must be alive to its constitutional duties bestowed on them as their basic role of serving as checks and balances to each other.

He urged workers, market women, artisans, youth movements and democratic organisations to give undiluted support to the House as a way of saving democracy in Adamawa State.

He further said, “At this crucial time in the political evolution of Adamawa State, we call on the lawmakers to resist any attempt by any individual, groups or political party to dissuade them from performing their constitutional duty through any form of inducement or bribery.”

He said the allegations against Nyako are weighty and the legislators should not hesitate to call on law enforcement agencies including the EFCC where such cases of inducement, bribery and ‘Ghana-must-go’ syndrome occur.