News
Senate rejects proposal to jail owners of forex
The Senate has expressed surprise at a recommendation by the Nigerian Law Reform Commission for a review of the Nigerian Foreign Exchange Act in order to empower the Central Bank of Nigeria to jail people for up to two years or fine them for 20 percent of the amount of the foreign currency held in their possession for more than 30 days.
The Senate in a statement signed by its spokesperson, Senator Aliyu Sabi Abdullahi, stated that with its focus on boosting investor’ confidence in the nation’s economy, such move as proposed by the Commission that will prevent investors from making free entry and free exit from the market will be outrightly rejected by its members.
“The measure is disruptive and counter productive, threatening to undermine many of the reform efforts already underway in the legislature and by government ministries intended to boost investor confidence.
“The Senate would never pass such a punitive and regressive proposal. Overall, some of the Commission’s recommendation has many sound attributes and could help Nigeria’s investment climate. We believe the CBN should have the authority to regulate the forex market and determine the exchange rate policy as already enshrined in its enabling Act.”
“A market-oriented exchange rate policy is the best recipe for guiding the operations of the foreign exchange market. This will ensure the supremacy of market mechanisms in efficiently allocating the scarce forex resources”, the Senate stated.
It added: “we will continue to work with the Executive to halt the worsening recession and return to economic growth.”
The proposed changes are said to be intended to help control capital flows and prevent foreign exchange from being taken out of the country.
Analysis of the proposed rules changes, that were posted on the Commission’s website, states that “the amendments are necessary for effective monitoring and control, and to ensure probity in foreign-exchange transactions in Nigeria.”
Last September, the Senate spearheaded an economic agenda to pass key reform legislations to promote economic growth through greater public sector participation, boost investor confidence and create jobs Also in June, the CBN was cheered for loosening its control over exchange rate policy in a bid to encourage investors to return to Nigeria and prevent capital flight.
Hopes were high after the Nigerian government finally allowed the naira to float, as was recommended by domestic and international investment advisors.
Currently, however, the markets do not reflect a loosening of CBN control over the forex market, leading to the emergence of multiple exchange rates.
News
IGP Never Ordered Beating, Attacks On Policemen During Stop And Search. It Is A Lie – FPRO
The Nigeria Police Force wishes to address a viral fake news story that has emerged, claiming that Inspector-General of Police, IGP Kayode Adeolu Egbetokun, Ph.D., NPM., has instructed citizens to physically assault and throw stones at police officers who request to search their phones.
This claim is entirely false and has no basis in reality. The IGP has not issued any such directive encouraging violence against law enforcement officers. Instead, he has called on citizens to report instances of police misconduct through appropriate channels. This approach underscores the importance of accountability and maintaining the rule of law, rather than resorting to violent actions.
Members of the public are urged to make use of the following Police helplines & contacts to lay complaints whenever necessary: +2347056792065, +2349133333785, +2349133333786, @PoliceNG on X, @ngpolice on Facebook, and @nigeriapoliceforce on Instagram. Citizens can also contact us by mail through; pressforabuja@police.gov.ng and reach us through the police website at npf.gov.ng
Members of the public are advised to remain vigilant against misinformation and verify information through credible sources. The Nigeria Police Force remains committed to fostering a cooperative and trustful relationship between the police and the communities they serve.
ACP OLUMUYIWA ADEJOBI, mnipr, mipra, fCAI
FPRO, ABUJA.
22ND DECEMBER 2024.
News
Court stops customs from seizing imported rice in markets, seaports
A court of appeal in Kaduna has ruled that the Nigeria Customs Service (NCS) should not impound foreign rice in the open market or on highways.
In a judgment delivered on December 6, a three-member panel of justices led by Ntong Ntong held that existing laws restrict NCS’ enforcement to land borders only.
The judgment was delivered in an appeal filed by the NCS, against a decision of the federal high court that acquitted one Suleiman Mohammed, a businessman, of charges related to the importation of rice.
Customs had arrested Mohammed after seizing a truck carrying 613 bags of foreign rice and 80 bags of millet belonging to the businessman on June 14, 2019, along the Kaduna-Zaria expressway.
Mohammed was charged and arraigned on a two-count charge.
However, in a judgment delivered on November 10, 2021, Z. B. Abubakar, trial judge, acquitted the defendants of the charges.
Abubakar held that the plaintiffs (customs) failed to adduce enough evidence to prove that the defendant imported the goods.
The judge also held that there is no subsisting blanket ban on the importation of foreign rice as claimed by the plaintiffs.
“…the evidence led by the prosecution through PW1, PW2, PW3 and the Exhibits tendered has not established that the Defendant imported Exhibit ‘NCS B1-B612’. Even the investigation conducted by the complainant (Nigeria Customs Service Board) on Exhibit ‘NCS B1-B612,” the judge held.
“As a matter of fact, Exhibit ‘NCS D’ could not reveal who imported the said Exhibits or where they imported from.
“It should be borne in mind that importation of foreign rice is not absolutely or totally prohibited. It is only importation of the product through the land borders of this country that was proscribed by the Federal Government vide Circular No. NCS/TXT/1XE/045/S.416/VOL.1X of 18th March, 2016. The circular provided that foreign rice only be imported into the country through seaports.”
The trial judge held that the prosecution failed to show that the goods were imported through land borders, adding that “the said exhibits could have been imported through the seaport, and the court is entitled to presume so”.
Furthermore, the lower court held that “loading any foreign rice into a truck is not an offence under both Sections 46(b) and 47(1) (a) (ii) of Customs and Excise Management Act (CEMA) (Supra)”.
“It is the landing or unloading of goods or foreign rice at designated customs port CA/K/33/C/2022 or wharf that is prohibited by the aforementioned provisions of the Act,” the judge ruled.
‘APPEAL IS A HOAX’
Aggrieved by the trial court’s judgment, NCS filed an appeal.
However, the appellate court commended the trial court judge for “doing justice in the evaluation of the law and evidence adduced before it”.
Ntong said he agreed with the arguments put forward by the respondent’s lawyer and the judgment of the trial court.
“Truly, I also agree with the learned trial judge, that Kaduna-Zaria expressway is not a “Land border” as stipulated by the law and Exhibit “NCS D,” the justice held.
“Importation of foreign rice in any wise is not generally prohibited. It is restricted to land borders alone.
“If I were in the shoes of the appellant (NCS), I would have honourably thrown in the towel as this appeal is simply a hoax, a fluke and unmeritorious whatsoever.
“From the evidence in the Record of Appeal, the Respondent was merely a purchaser for value and not an importer. The Appellant ought to have arrested the importer and not a mere purchaser from open market with a receipt of purchase Exhibit NCS D.
“How can a fowl leave to attack who killed it to pursue who is de-feathering it? This is an Annang-African Idiom that means the Appellant ought not to shut its eyes away from the importer and be chasing petty traders and consumers who buy from the open market. After all prohibited or contraband goods always pass through the borders which are the beats of the Appellant.”
Consequently, the court dismissed the appeal in favour of the respondents.
The court further ordered customs to return all the goods seized from the businessman in 2019 or pay him the money equivalent.
“Consequently, the Appellant is hereby ordered to release or cause the release of the 613 bags of foreign rice, 80 bags of millet, Exhibit “C” and DAF truck with Registration Number: 57 BS 45 impounded and confiscated from the Respondent on 14th June, 2019 to the said Respondent Suleiman Mohammed or his representative forthwith,” the judge ruled.
“Where it has become difficult or impossible to return the items aforesaid, the Appellant shall pay to the Respondent a sum of money equivalent to the current price or cost of the items aforementioned.”
News
Many feared dead as rice distribution causes stampede in Anambra
An unconfirmed number of residents of Okija community in Anambra state have reportedly lost their lives in a stampede.
TheCable understands that the stampede occurred on Saturday morning during an event for the distribution of rice.
Victims of the stampede are mostly women.
Multiple social media videos seen by TheCable show lifeless bodies laying on the ground after the incident.
Some victims have reportedly been taken to nearby hospitals.
Charles Aburime, the chief press secretary to the Anambra governor, confirmed the incident when contacted.
Aburime said the state government is monitoring the situation and would soon release a statement.
The incident is coming a few days after over 35 people, mostly children, died during a stampede at a carnival in Ibadan, Oyo state capital.
The Anambra stampede is the second rice distribution-related mishap in 2024.
In March, some students of Nasarawa State University, Keffi, were killed in a stampede during the distribution of rice donated by the state government.
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