SERAP gives CBN 48 hours to withdraw hike in ATM transaction fees

Socio-Economic Rights and Accountability Project (SERAP) has urged the Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, to use his ‘leadership position to immediately withdraw the patently unlawful, unfair, unreasonable and unjust increase in Automated Teller Machine (ATM) transaction fees’. SERAP urged him to ensure that the exercise of CBN statutory powers and functions does not inflict misery on poor Nigerians and contribute to human rights abuses. The CBN recently announced that ATM withdrawals made at a machine owned by a bank but outside its branch premises will now attract a charge of N100 per N20,000 withdrawn. ATM withdrawals at shopping centres, airports or standalone cash points, will incur a N100 fee plus a surcharge of up to N500 per N20,000 withdrawal. Banks ‘are advised to apply the increased ATM fees with effect from March 1, 2025.’ In the open letter dated 15 February 2025 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “the manifestly unlawful, unfair, unreasonable, and unjust increase in ATM transaction fees will hit hardest those at the bottom of the economy and exacerbate the growing poverty in the country.” SERAP said, “The increase in ATM transaction fees ought to have been shouldered by wealthy banks and their shareholders, not the general public. The increase only benefits the CBN and commercial banks at the expense of poor Nigerians.” According to SERAP, “CBN policies should not be skewed against poor Nigerians and heavily in favour of banks that continue to declare trillions of naira in profits mostly at the expense of their customers. The increase in ATM transaction fees would inflict misery on poor Nigerians and contribute to human rights abuses.” The letter, read in part: “The increase in ATM transaction fees is also entirely inconsistent with the oft-expressed commitment by the government of President Bola Tinubu to address the growing poverty across the country.” “We would be grateful if the recommended measures are taken within 48 hours of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the CBN to comply with our request in the public interest. “The exorbitant and unlawful increase in ATM transaction fees at a time the country is facing economic and financial crises would contribute further to the impoverishment of the population. “Imposing exorbitant ATM transaction fees on socially and economically vulnerable Nigerians at a time several Nigerian banks are declaring trillions of naira in profits yearly is manifestly unfair, unreasonable and unjust. “The increase cannot be justified under the Nigerian Constitution 1999 [as amended], the CBN Act, Federal Competition and Consumer Protection Act, and the country’s international human rights obligations. “The patently unlawful, unfair, unreasonable and unjust increase in ATM transaction fees also inherently contributes to violations of the human rights of socially and economically Nigerians. “The increase creates a two-tiered financial system that discriminates against poor Nigerians who may not be able to afford or pay the increased fees. “While the government of President Tinubu has primary responsibility for protecting the rights of Nigerians, the CBN also has the responsibilities to ensure that its practices and guidelines do not cause or contribute to human rights abuses. “The CBN could play an important role in promoting economic opportunities for Nigerians where the majority of the people live in poverty. “The CBN is failing to comply with the Nigerian Constitution, the Federal Competition and Consumer Protection Act and the country’s international human rights obligations in the exercise of its statutory powers and functions. “The CBN is also compromising its stated mission to advance the management of the country’s economy, and ultimately, sustainable development. “According to our information, the CBN through a Circular to all banks and other financial institutions dated February 10 2025 stated that it has reviewed and increased the ATM transaction fees prescribed in section 10(7) of the CBN Guide to Charges by Bank, Other Financial and Non-Bank Financial Institutions 2020. “Section 42(1)(a) of the CBN Act 2007 provides that ‘The Bank shall wherever necessary seek the co-operation of and co-operate with other banks in Nigeria to – (a) promote and maintain adequate and reasonable financial service for the public.’ It also provides that any policy of the CBN ‘shall be in the national interest.’ “Section 1(c)(d) of the Federal Competition and Consumer Protection Act, 2018 provides that the objectives of the Act are to ‘protect and promote the interests and welfare of consumers’ and ‘prohibit restrictive or unfair business practices’ such as the exorbitant and unreasonable increase in ATM transaction fees by the CBN. “Significantly, the provisions of the Federal Competition and Consumer Protection Act are directly binding on the CBN, as the provisions constrain the exercise of the statutory powers and functions of the institution. “Specifically, section 2(1) the Act provides that its provisions ‘apply to all undertakings [such as the CBN] and scope of application to all commercial activities within, or having effect within, Nigeria. “Section 2(2) provides that, ‘This Act also applies to and is binding upon- (a) a body corporate or agency of the Government of the Federation; (b) a body corporate; (c) all commercial activities aimed at making profit and geared towards the satisfaction of demand from the public.’ “According to section 70(1) of the Act, ‘For the purpose of this Act, an undertaking [such as the CBN] is considered to be in a dominant position if it is able to act without taking account of the reaction of its customers or consumers.’ “The Act prohibits abuse of dominant position by the CBN including charging excessive ATM transaction fees to the detriment of consumers. “Section 104 of the of the Act asserts the supremacy of the Act over ‘the provisions of any other law’, such as the CBN Act. The only exception to the provision is the Nigerian Constitution 1999 [as amended]. “Section 127(1) of the Act also prohibits the CBN from making any policy or providing “any services at…

Read More

UNIZIK expels student for biting lecturer in clash over TikTok video

The authorities of Nnamdi Azikiwe University, Awka, Anambra State, have expelled a student, Goddy-Mbakwe Chimamaka Precious, over her assault on a lecturer from the Department of Theatre and Film Studies. In an official expulsion letter dated February 13, 2025, and signed by the Acting Registrar, Mr. Victor I. Modebelu, the university stated that the decision followed the recommendation of the Student Disciplinary Committee, which found the student’s actions to be a gross violation of the institution’s disciplinary regulations, specifically Regulation 4 (SDR). The incident, which gained widespread attention after a video surfaced online, reportedly involved Precious attacking the lecturer identified as Dr. Chukwudi Okoye. The attack followed the interruption of a TikTok video she was recording on campus. The confrontation led to public outrage and calls for disciplinary action. According to the letter, the expulsion takes immediate effect, with the university directing Precious to vacate the premises and return any university property in her possession. This development marks a decisive move by the UNIZIK administration in maintaining discipline within the institution, and it generated widespread reactions. The letter read, “The Ag. Vice-Chancellor has received the report from the Student Disciplinary Committee on the case of your assault on a lecturer from the Department of Theater and Film Studies, which was found to be a gross misconduct and violation of the Students Disciplinary Regulations particularly Regulation 4 (SDR). “Consequently, the Ag. Vice-Chancellor has, on behalf of the University Senate, approved the Committee’s recommendation that you be expelled and you are hereby expelled from Nnamdi Azikiwe University, Awka. The expulsion takes immediate effect. “You are expected to vacate the University premises immediately and return any University property in your possession.”

Read More

Afenifere chieftain Ayo Adebanjo dies at 96

Elder statesman and chieftain of the pan-Yoruba socio-cultural organisation, Afenifere, Pa Ayodele Adebanjo, has died at the age of 96. Adebanjo died on Friday morning at his residence in Lekki, Lagos State. The family confirmed his death in a statement made available to our correspondent on Friday. The statement was jointly signed by his children, namely, Mrs. Ayotunde Atteh (nee Ayo-Adebanjo), Mrs. Adeola Azeez (nee Ayo-Adebanjo), and Mr. Obafemi Ayo-Adebanjo. “With a heart full of gratitude for a selfless life spent in the service of God, the nation and humanity, we announce the passing on of our beloved patriarch, Chief Samuel Ayodele Adebanjo. “He died peacefully this morning, Friday, February 14, 2025, at his Lekki, Lagos, Nigeria home at the age of 96,” the statement reads. Afenifere asks Tinubu to probe NNPCL fuel import, refinery repairsIt added, “We will forever cherish his commitment to fighting for truth, equity, and justice. “His belief and struggle for a truly independent and progressive Nigeria was total, and this he fought for until he breathed his last breath.” The family also disclosed that consultations are ongoing with Adebanjo’s friends, associates, and various interest groups across the country and beyond to finalise plans for a befitting funeral. According to the statement, details of the funeral arrangements will be announced in due course, adding that a condolence register has been opened at his residence in Lagos and his country home in Isanya Ogbo, near Ijebu Ode, Ogun State. The former organising secretary of the Action Group is survived by his 94-year-old wife, Chief Christy Ayo-Adebanjo, along with children, grandchildren, and great-grandchildren.

Read More

COAS charges Troops to intensify operations against security threats

The Chief of Army Staff (COAS), Lieutenant General Olufemi Olatubosun Oluyede, has charged troops of Operation WHIRL STROKE and the 401 Special Forces Brigade to sustain their offensive operations against security threats in Benue and neighbouring states. He commended their professionalism, dedication, and selfless service while reaffirming the Nigerian Army’s commitment to their welfare and operational effectiveness. Lieutenant General Oluyede gave these directives during his maiden operational visit to the Headquarters of the Joint Task Force Operation WHIRL STROKE and the 401 Special Forces Brigade at Joe Akahaan Cantonment, Makurdi, on February 12, 2025. Upon arrival, he was warmly received the Commander of Operation WHIRL STROKE, Major General Lewis Lepdung and the Commander of the 401 Special Forces Brigade, Brigadier General AS Bugaje. During a briefing, Major General Lepdung highlighted the successes recorded in the ongoing operations as well as the challenges faced by the troops. In response, the COAS assured them of his unwavering support, pledging to provide the necessary resources and combat enablers to enhance their operational efficiency. Addressing the troops, General Oluyede expressed deep appreciation for their relentless efforts in safeguarding citizens and securing Benue and its environs. He praised their bravery, discipline, and sacrifice, emphasizing his pride in leading a professional and dedicated force. He reaffirmed that the welfare of troops and their families remains a top priority and assured them that any challenges hindering their mission success would be promptly addressed. Furthermore, the COAS urged the troops to intensify their offensive operations against terrorists, reiterating the Nigerian Army’s resolve to combat internal and external threats to national security. He encouraged them to remain resolute and committed to their duties, assuring them of continued support to ensure their success. As part of his visit, Lieutenant General Oluyede inspected ongoing projects at the Nigerian Army School of Military Engineering and the 401 Special Forces Brigade. These projects are aimed at addressing accommodation shortages and improving the living standards of personnel and their families within the barracks community. The COAS concluded his visit by reaffirming his commitment to strengthening the capabilities of the Nigerian Army, ensuring that troops remain well-equipped, motivated, and ready to defend the nation.

Read More

Policemen, Naval personnel clash in Delta

The Nigeria Police Force, Delta State Police Command has revealed the real reason behind the men of the Quick Response Squad clash with some Naval personnel in the State recently. In a statement issued and made available on Wednesday, the Police Public Relations Officer, Delta State Command, Superintendent of Police, Edafe Bright claimed the clash eschewed as the Naval personnel make attempts to ensure the release of a suspected drug peddler. “The command is aware of the embarrassing situation between Policemen attached to the Quick Response Squad of the Command and some Airforce personnel attached to Airforce base Jeddo in Okpe Local government Area where the personnel of Nigeria Airforce without any provocation attacked the policemen who were performing their lawful duty. “On 11/2/2025, at about 1700 hours, operatives of Quick Response Squad (QRS) while on crime prevention patrol flagged down a Toyota Corolla car with reg. no. AKD-73-FL, but the occupants of the vehicle on sighting the police took to their heels which prompted the policemen to go after them, and arrested one of the suspects identified as Ibohama Precious aged 25yrs and recovered some weed suspected to be Indian hemp, Canadian loud and other hard drugs. “While the Policemen were on their way to the station alongside the suspect and exhibit, upon getting to the Airforce checkpoint at Jeddo, they were stopped by the Airforce personnel and were told that they wouldn’t be allowed to proceed until they released the suspects they were carrying which the policemen vehemently resisted and subsequently, the Airforce personnel attacked the Policemen without justification. “The Delta state Police command under the leadership of CP Olufemi Abaniwonda, the Nigeria Airforce, Navy, Army and other security agencies in the state have a cordial working relationship worthy of emulation and the incident is indeed an embarrassing one,” SP Edafe Bright pointed out. He assured that the Commissioner of Police Delta State CP and Airforce authorities are looking into the ugly incident and putting all modalities in place to forestall future occurrence of this embarrassing situation.

Read More

LGA Elections: Gov. Adeleke craves for peaceful process

Osun State Governor Ademola Adeleke has urged politicians to embrace peaceful process ahead of the State’s Local Government Elections slated for February 22, 2025. The Governor in a post on his official X handle called all the candidates to engage the electorate with their agenda, focusing on issues rather than resorting to violence or coercion. His words; “As a government, we remain committed to ensuring free, fair, and credible elections. We have closely monitored the preparatory activities of the state electoral commission and reaffirm our respect for its independence in conducting a transparent electoral process. “Osun State boasts a highly educated population, with literacy at an all-time high. This is not a state where falsehood thrives. Our people read, analyze, and understand court rulings and political developments. I encourage every eligible voter to prepare for February 22nd an opportunity to elect council chairmen and councilors of their choice. “However, we have received credible reports of plots by certain opposition elements to instigate unrest. Let me issue a clear and strong warning: desist from such actions, as the consequences will be grave. As the Chief Security Officer of this state, I have directed security agencies to deal decisively with any individual or group attempting to disrupt the peace, in line with the rule of law. Osun will not be plunged into needless conflict. “Democracy is about ballots, not violence. On February 22, go to the polls, cast your votes, and express your preferences peacefully. Osun remains a stronghold of democracy, and we stand ready to protect our democratic values.”

Read More

Alleged N90.4m fraud: Former NHIS boss knows fate on bail Feb 27

Justice Chinyere E. Nwecheonwu of the Federal Capital Territory High Court, Kuchiako, Kuje, Abuja, on Wednesday, 12 February 2025, adjourned till February 27 for ruling on the bail application of former Executive Secretary, National Health Insurance Scheme, Professor Usman Yusuf. Yusuf was arraigned on a five-count bordering on embezzlement, conferring undue advantage, and fraud to the tune of N90,439,178.00 (Ninety Million, Four Hundred and Thirty Nine thousand, One Hundred and Seventy Eight Naira only). Arguing against the application for bail by the defendant, prosecution counsel, Francis Usani in a counter affidavit, informed the court that the offences alleged against the defendant impact on the general well-being of the common man in Nigeria, tarnishing also the image and reputation of the country as a whole and diminishes government’s efforts to sustain development in the country. “The evidence elicited in the course of investigation against the defendant is overwhelming and can lead to the defendant being convicted by the court. I know for a fact that the applicant failed to comply with the administrative bail conditions granted him by the respondent to report regularly and bi-weekly to the respondent’s office while he was under investigation”, he said. Usani further argued that the defendant if granted bail will abscond and will not be available to face his trial as the weight of the evidence against him was very strong and compelling. “It took the respondent’s officers discreet surveillance and high powered intelligence to apprehend the defendant for the purpose of bringing him to court. The defendant has boasted publicly even while in the custody of the respondent that this case will go nowhere as he is highly and politically connected. Usani further informed the court that the prosecution believed that the defendant is still highly connected and has tremendous influence at the NHIS to temper and influence most of the respondent’s witnesses that will come from the NHIS to testify before the court. He further submitted that it was the duty of the defendant to “place cogent, sufficient and compelling facts before the court upon which the court would consider his application for bail. “It is very clear that the affidavit’s evidence deposed to by Bashir Yusuf in support of the application for bail; that the defendant has not supplied materials to persuade this honourable court to grant his prayer, nor ask the respondent to show reason why bail should not be granted.” Counsel to the defendant, O. I. Habeeb, SAN, in a motion on notice informed the court that the defence are praying for an order of the court to admit the defendant on bail pending his trial in the case on such terms and conditions as the court may deem fit to impose. He also prayed for any further order the court may decide to make, adding that the offences for which the defendant is charged are bailable offences and that he has satisfied all the necessary conditions for him to be admitted on bail on liberal terms. Thereafter, Justice Nwecheonwu adjourned the matter for ruling on the bail application to February 27, 2025. The judge still held the order of remanding the defendant in Kuje Correctional Centre pending ruling.

Read More

PDP NWC affirms Udeh Okoye as Party National Secretary

The National Working Committee (NWC) of the Peoples Democratic Party (PDP) has thrown its weight behind Rt. Hon. S.K.E Udeh Okoye as the National Secretary of the Party. The NWC on Wednesday, February 12, 2025 extensively considered the Memo dated 11th February, 2025 presented by the Acting National Chairman on the issue of the National Secretary of the PDP. The NWC in considering the Memo thoroughly examined the attached documents namely; the Declaratory Judgement of the High Court of Enugu, the Judgment of the Court of Appeal, Enugu Division which pronounced and declared Rt. Hon. S.K.E Udeh Okoye as the National Secretary of the PDP; the Legal Opinion and Advice by Dr. Kabiru T. Turaki SAN as well as that of the National Legal Adviser of the PDP. After due consideration of the Memo and the attachments, the NWC overwhelmingly recognises, acknowledges and confirms Rt. Hon. S.K.E Udeh Okoye as the substantive National Secretary of the PDP in full compliance with and obedience to the Judgement of the Court of Appeal, recognizing that there is no subsisting or superseding Judgment or Order from any Court of superior authority or hierarchy. The NWC has commenced the transmission of its Resolution/Decision affirming Rt. Hon. S.K.E Udeh Okoye as the PDP National Secretary to the Independent National Electoral Commission (INEC) and other relevant bodies for recognition in line with the judgment of the Court of Appeal. The NWC commended all Organs, leaders, critical stakeholders and members of the PDP for their steadfastness, respect for the Rule of Law and loyalty to the Party at this critical time. The NWC reassured that it will continue to be guided strictly by the provisions of the Constitution of the PDP (as amended in 2017), Operational Guidelines, the Rule of Law and the vision of our founding fathers for the stability and growth of the Party, entrenchment of democracy and wellbeing of Nigerians.

Read More