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Court orders FG to re-establish the People’s Bank of Nigeria to provide loans to underprivileged Nigerian citizens
| September 08, 2014
A Federal High Court in Lagos has directed the federal government to provide loans for underprivileged Nigerian citizens through the Peoples Bank of Nigeria. In a suit by rights activist Mr. Femi Falana, the judge at the trial held that the Peoples Bank Act, Cap P7 2004, has not been rescinded by the National Assembly and the bank should be re-established. In the suit, Mr Falana asked the court to determine if the continuous refusal of the Peoples Bank of Nigeria to give effect to the provisions of Cap P7 LFN 2004 was not illegal and null and void, with regards to section 1 of the Cap P7 Laws of the Federation of Nigeria, 2004. Mr. Falana also asked the court to determine if the failure of the Federal Government to make loans available for underprivileged Nigerians was illegal and unconstitutional with regards to the People Bank of Nigeria Act. In its ruling, the court ordered the federal government of Nigeria to re-establish the bank to provide loans to underprivileged Nigerians in line with the provisions of the People̢۪s Bank of Nigeria Act.

(1) Comment


"The views and opinions expressed in these comment(s) or article(s) do not necessarily reflect the views or opinions of NGEX, its partners or its affiliates."
OMOTAYO, J. A.    Accra, GHANA    September 10, 2014
I salute your courage, Mr. Falana. One of those who makes me to believe that Nigeria has a future is Mr. Falana. Unlike many others, his struggles have been for the oppressed and the underprivileged. While others in the National Assembly concern themselves with how to share the national cake and rig elections, Mr. Falana has chosen to be different.

I was listening to a programme of CCTV 24 last weekend on happiness. The reporter stated that the happiest people in the world live in Denmark. Then he went on to interview a few people whilst also showing how the people mix up freely. In one occasion, the lady Prime Minister was addressing a crowd and no security details were present. That cannot happen in Nigeria.
One of those interviewed said that he was happy because he did not have to think of how to cater for his father, mother, children, etc. The state has adequate provision for everyone. Of course, the Nigerian Constitution has adequate provisions for everyone. But those in power at all levels (federal, state and local governments) have circumvented these provisions in order to cater sorely for themselves.

God save Nigeria.
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