RayTec Trust Nigeria

Justices Yellin Bogoro of the Federal High Court sitting in Lagos on Tuesday, July 16, dismissed a suit by a Lagos-based lawyer, Malcom Omirhobo, challenging the use of Arabic inscriptions on Naira notes.   According to the judge, “the Central Bank of Nigeria (CBN) is empowered by Section 53 (1) of the Banks and Other Financial Institutions Act (BOFIA) to print, design and issue the currency and compels the need to establish bad faith before an action can be brought to challenge the act or omission of the Federal Government or the apex court.”   The court also held that the suit challenging the Arabic inscriptions on Naira notes failed to establish that the CBN’s powers were exercised in bad faith.   Omirhobo had filed the suit against the CBN in Jan. 2020 contending amongst other things that Arabic is not one of the four official languages of Nigeria namely English, Yoruba, Hausa and Igbo. In the suit, the lawyer contended that Arabic is not indigenous to Nigeria and to ...

In Taraba State, the youth are tragically ensnared by unscrupulous leaders, a predicament fueled by poverty, illiteracy, and a decline in moral values. Economic deprivation forces many young individuals into desperation, stripping them of opportunities for a better future. The absence of quality education compounds this issue, leaving the youth ill-equipped to critically assess their circumstances or challenge the status quo. Illiteracy perpetuates a cycle of ignorance and dependency, where young people become susceptible to the manipulations of corrupt leaders. These leaders, exploiting the dire socio-economic conditions, present themselves as benefactors, offering temporary relief while cementing their control. The lack of moral education further exacerbates the situation, eroding the ethical foundations necessary for a just and accountable society. As a result, the youth are often seen as beggars in a vast ocean, dependent on the whims of these leaders for survival. They praise and ...

Nigeria stands on the brink of another wave of protests as citizens rally against the prevailing bad leadership. The dissatisfaction with the government’s inefficiency, corruption, and lack of transparency has reached a boiling point. The frustrations of the people are understandable; however, it is crucial to consider the potential repercussions of these protests. Nigeria has a history of protests turning violent, leading to loss of lives and property. The 2020 #EndSARS movement, which began as a peaceful demonstration against police brutality, escalated into widespread unrest. The memories of that time are still fresh in the minds of many Nigerians. With the current socio-economic challenges, the situation is even more volatile. The leadership in Nigeria has repeatedly failed to address the core issues plaguing the nation. Corruption is rampant, public services are poor, and there is a general lack of accountability. This has led to a loss of faith in the government and increased agi...

Corruption, poverty, and unemployment are pressing issues in Nigeria that have hindered the nation's growth and development. Despite being Africa's largest economy, Nigeria faces significant challenges in ensuring equitable wealth distribution and economic stability for its population. The prevalence of corruption in Nigeria is a major impediment to progress. It undermines governance, weakens institutions, and erodes public trust in the government. Corruption in Nigeria is pervasive, affecting various sectors including politics, business, and public services. High-profile corruption cases often involve embezzlement of public funds, bribery, and abuse of power, which divert resources meant for public welfare into private hands, exacerbating poverty and inequality. Poverty remains a critical issue in Nigeria, with a substantial proportion of the population living below the poverty line. Despite the country's abundant natural resources, wealth is concentrated in the hands of...