DSS raids forex dealers in Lagos, Abuja

Operatives of the Department of State Security on Thursday arrested some unregistered Bureau De Change operators in Lagos and Abuja.

Also raided by the DSS operatives were registered BDCs operators who were accused of selling the dollar above N400.

The development, forex dealers said, forced some of the BDC operators to seek means of selling foreign currencies in their possession, especially dollars, pounds and euros at stipulated rates.
A licensed BDC operator in Abuja, Alhaji Yusuf Rabiu, told the News Agency of Nigeria that the raid on the registered operators made some of them to reach an agreement on how much the various foreign currencies should be sold for.

On Wednesday, the DSS had raided the offices of some BDC in Lagos and Abuja, arresting operators selling above the stipulated exchange rate.

The DSS operatives posed as end-users who came to purchase dollars from the BDCs. After surveying the market for exchange rate offerings, they arrested some BDC operators who sold above the Central Bank of Nigeria’s stipulated rates.

Rabiu said, “On Monday, the EFCC called so many licensed BDC operators. The issue is that they feel we are unnecessarily hiking the rates. But it’s not our fault.

“Right now, their focus is on our business; they have been calling us one by one and we don’t want problems. That is why we have agreed to have a fixed rate for now. After the raid in Lagos, the Abuja operators met and agreed on a fixed rate.”

Another trader told Reuters that security agents visiting the BDC operators told dealers not to sell dollars for more than N395.

“We’ve stopped buying dollars from just anybody that walks into our shops due to the harassment from security agents and a directive from our association,” said a dealer, who spoke on condition of anonymity.

The President, Association of Bureau De Change Operators, Alhaji Aminu Gwadabe, said the association had this week inaugurated committees to ensure that members complied with its regulations on exchange rates.

He said ABCON was working with the CBN to ensure that speculators, illegal operators and errant members were dealt with.

Gwadabe added that licensed dealers had agreed with the central bank and the security agencies to enforce a rate of N390 to N400 to the dollar.

“The issue of naira depreciation has been narrowed to the activities of speculators and we have decided, with the cooperation of both the central bank and the security agents, to enforce a new rule on pricing,” he said.

But economic and financial experts said the approach of arresting the operators would not work.

A currency analyst at Ecobank Nigeria, Mr. Kunle Ezun said, “We cannot control the naira value or exchange rate by fiat. It is beyond that. Until there is enough liquidity in the foreign exchange market, we cannot do that. The DSS raiding the BDCs will only add to the problem. That is not how to stabilise or bring down the exchange rate.

“Exchange rate control cannot come by fiat. When the CBN began the flexible exchange rate policy in June, a lot of things were done. We need to look into this clearly. The issue at the market now is lack of liquidity and this cannot be addressed in the short-term. We should allow a full-fledged interbank rate; transparency and price discovery are key elements of the market.”

Copyright NIJAGIST.              
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from NIJAGIST.

He beats me whenever I’m pregnant, divorce-seeking wife tells court

A mother of three, Kudirat Ajoke, on Tuesday pleaded with an Ilorin Area Court to dissolve her marriage to Baba Mutairu over persistent battering and lack of care.

According to the petitioner, a resident of Asalapa compound in Alore, Ilorin, her husband beats her every time she is pregnant.

“He beats me and forces me to travel whenever I’m pregnant; he also does not allow me to return home until I deliver.

“He is highly irresponsible and was never involved in the maintenance of the house,” she said.

Ajoke urged the court to grant her divorce in order to enable her begin a new life.

In his response, Mutairu objected to the relief being sought by the plaintiff, saying he was still in love with her.

He also denied the allegation of battery and irresponsibility levelled against him by his wife.

Mutairu urged the court to grant him an adjournment to seek settlement with the aggrieved wife.

The presiding judge, AbdulQuadir Ibrahim, adjourned the case till Nov. 30 for report of settlement. (NAN)

Buhari orders hitch-free elections in Ondo, Rivers

President Muhammadu Buhari has directed all security agencies to work hard and ensure violence-free governorship election in Ondo State and the rerun in Rivers State.

According to a statement on Tuesday by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President spoke at a state dinner organised in his honour on Monday in Benin, the Edo state capital, as part of his two-day visit to the state.

The President said the forthcoming governorship elections in Ondo and National and State Assembly rerun elections in Rivers will serve as a litmus test for the general elections in 2019.

He said, “What happened in [the last elections] Kogi, Bayelsa and Rivers State disturbs me a lot.

“I think we should go beyond these actions. Why do we kill each other? Putting tyres on people and setting them ablaze.

“I have told the law enforcement agencies, if we can’t conduct an election in one state then we should forget about 2019.”

Acknowledging the role played by outgoing Governor Adams Oshiomhole in ensuring the success of the All Progressives Congress in the last governorship elections in the state, Buhari challenged the Governor-elect, Mr. Godwin Obaseki, to continue in Oshiomhole’s footsteps of providing purposeful leadership in terms of quality infrastructure, education and social services.

“The publicity your predecessor has given his performance is going to stretch you to the limit.

“Considering what he has down, you have to continue in his footsteps. We wish you the best of luck and will do our best to support you,” the President said.

N6.8bn fraud: Counsel’s absence stalls ex-NAMA boss’ trial

    

Ex-NAMA boss, Ibrahim-Abdulsalam

A Federal High Court in Lagos on Tuesday fixed Dec. 2 for continued trial of a former Managing Director of the Nigeria Airspace Management Agency, Ibrahim Abdulsalam.

Abdulsalam was charged alongside six others over alleged stealing and conversion of NAMA’s N6.8bn.

The other accused are: Adegorite Olumuyiwa, Agbolade Segun, Clara Aliche, Joy Adegorite and two companies – Randville Investment Ltd. and Multeng Travels and Tours Ltd.
The accused are being prosecuted by the Economic and Financial Crimes Commission.

Justice Babs Kuewumi adjourned the case following the absence of prosecution counsel, Mr Rotimi Oyedepo, who informed the court of his non-availability, in a letter.

Oyedepo informed the court that he was before an appellate court for another case.

The EFCC had on April 7 arraigned Abdulsalam, three directors of the agency and the wife of one of the directors.

They, however, pleaded not guilty.

The charge was later amended to include the other accused.

PHOTOS: Buratai weeps as commander, six soldiers get national burial

Lt. Col. Muhammad Abu-Ali and six troops who were killed during a Boko Haram attack at Mallam Fatori on November 4, 2016 were given a national burial at the military cemetery, Abuja on Monday.

See photos below:

Phots: Olatunji Obasa

Judges May Face Sanctions For Delaying Criminal Cases

Judges are likely to be queried and sanctioned if they fail to conclude criminal cases assigned to them within set time.

This is contained in the new National Judicial Policy inaugurated by the National Judicial Council in Abuja on October 24.

The NJP came into force earlier in April, 2016.

There have been instances before the advent of the Administration of Criminal Justice Act, 2015, when criminal cases, involving politically-exposed persons or other influential Nigerians, dragged on for over a decade.

But the new NJP requests federal and state judiciaries to set targets for the completion of various categories of cases, including criminal matters.

Sub-section 2.5.2 of the policy provides that judges must be made to provide reasons for failure to dispose of criminal cases within the target time.

This directive, captured under the policy on judicial performance in section 2.5 of the NJP, seeks to focus on “strategies to strengthen judicial performance through constant monitoring and evaluation and through continuous monitoring and assessment of the adequacy of the facilities available to judges for efficient performance.”

The policy categorises cases as small claims, fast-track cases, complex criminal cases, and normal civil cases, but goes ahead to impose duties on judiciary authorities to demand explanation from judges who fail to conclude criminal cases within time.

It seeks to strengthen the quarterly evaluation mechanisms already put in place and introduce new measures to ensure “improved performance of judicial officers.”

The policy reads in part, “Such measures will include measures to:

“Promote self-evaluation by judges and by state and federal judiciaries;

“Request each judiciary to devise time utilisation and management and monitoring mechanisms and guidelines by judges;

“Request state and federal judiciaries to set targets for completion of cases classified as: small claims, fast-track cases, complex cases, criminal cases and normal civil cases and monitor compliance.

“Demand that reason be given for criminal cases not disposed of within the set target period.”

The policy also makes it mandatory for each judiciary to submit action plan on how to clear backlog of civil cases.

It adds that the measures for improved performance of judicial will “require each judiciary to submit action plan and strategies for clearing backlog of civil cases pending for more than three months and criminal cases pending for more than 18 months;

“Require each judiciary to submit to an annual judicial system audit and survey of the effectiveness and efficiency of its judicial system.”

The NJP covers other issues such as judicial appointment policy, judicial discipline policy, judicial code of conduct policy, judicial education and training policy, case flow management policy, judicial administration and court management policy and transparency and anti-corruption policy, among others.

The NJP deals with Judicial Discipline Policy under Section 2.2, where it makes provisions for the Judicial Discipline Regulations.

It states in its Section 2.2.3 that the Judicial Discipline Regulations may specify among other 16 items, the procedure of investigation of a judge, powers of council to order a review and composition of review body, and powers of interim suspension by NJC.

But the NJC had said, acting in line with NBA’s suggestion, by suspending judges under probe without receiving petitions against them and probing the petitions, would violate Section 158 of the Constitution.

The NJP, also among others, directs that any petition filed against a judge that is leaked or discussed in the media before or after it is submitted for investigation, will not be entertained.

It also reiterates the Code of Conduct for Judicial Officers barring judges from accepting gifts.

  Copyright NIJAGIST.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from NIJAGIST.