By Yusuf Danjuma Yunusa

The Court of Appeal in Abuja has reserved judgment in two separate appeals over dispute surrounding the timetable for the conduct of the 2027 elections released by the Independent National Electoral Commission, INEC.

A three-member justices of the appellate court, in a judgment delivered by Justice Adebukola Bankole on Wednesday, held that judgments would be reserved in the appeals.

According to her, the date of the judgement will be communicated to parties in the appeal.

Two political parties, Youth Party of Nigeria, YPN, and Social Democratic Party, SDP, had approached two Federal High Courts in Abuja, to nullify the timetable released for the 2027 elections by INEC.

While Justice Mohammed Umar of the Federal High Court granted the reliefs sought in the suit by YPN and nullified the election guidelines by INEC, Justice James Omotosho, in the suit filed by SDP, granted some reliefs in favour of the party and some others in favour of the electoral umpire.

Not satisfied by the two judgements, INEC approached the Court of Appeal to set aside the judgment of Justice Umar and part of the judgment of Justice Omotosho which limited INEC’s power regarding the conduct of elections.

During the hearing of the appeals, Dr Alex Izinyon, SAN, led two other SANs, from INEC to argued the appeals.

Izinyon, in his submission before the appellate court contended that INEC had the power as provided by the law under the provisions of the 1999 Constitution and the Electoral Act to issue guidelines for the elections.

“The constitution, specifically, empowered INEC to organise, supervise and undertake elections and other political activities as provided and that the timetable provided is in consonance with the power donated by the 1999 Constitution and the enabling act for INEC to do what it did in issuing elections timetables.

“The trial court erred in law because it failed to interpret, using the Supreme Court authorities and Court of Appeal decisions on the power already donated by the 1999 Constitution to INEC to arrange for elections including pre-election matters.

“Supreme Court and Court of Appeal have held that INEC has the power to organise and supervise elections and this include timetable for elections to carry out political activities preceeding the elections.

“The trial court failed to give effect to the phrase ‘not later than 120 days and not more than 90 days’, which was a subject of contention at the trial court.

“And that not less than 120 days means it should not be more than but it can be less than but for the court to say that it must be exactly 120 days, was too mathematical and not the intendment of the lawmakers as any of the activities can be done before the 120 days and not more than.

“For the trial court to say it must be exactly 120 days is a mechanical application of the statue which is contrary to the decisions of the apex court and the Court of Appeal,” he said.

He said the same goes for the 90-day provisions, adding that the reliefs sought by the respondents at the trial court were declarative in nature.

“There was no evidence by way of affidavit to show that they have commenced any primary or taken steps or that they have suffered any injury..

“Therefore the court ought not to have granted any relief,” the senior lawyer said.

Izinyon said the second appeal was filed by SDP and the judgment delivered by Justice Omotosho, who granted some reliefs to the SDP and granted some also to the INEC.

“INEC appealed part of the judgement in that case which limits their powers by saying that the days were short by few numbers of days that INEC should go back and rectify this,” he added.

Before the main appeal was argued, Izinyon moved three applications.

One of applications prayed the court to close the door against YPN on the ground that the party failed to file its respondent brief after service of the appellant briefs on them five days earlier.

He argued that the court should hold that they had no written briefs in opposition to the appellant’s briefs as they are prohibited by paragraph 13 of the practice direction of the pre-election proceedings issued by the President of the Court of Appeal.

He said the rule states that no time shall be extended for default under the same paragraph.

The YPN’s counsel, Akinwale Irokosun, when asked by the panel, if the party filed any response to the motion, answered in the negative.

The lead counsel later moved his application and the court reserved ruling to be delivered alongside the main appeal.

Izinyon equally opposed the motion by Irokosun, praying the court to grant them an extension of time to file their respondent brief.

He argued that there was no extension of time to file respondent brief when the time provided by the rules had elapsed.

By Yusuf Danjuma Yunusa

A former Minister of Science and Technology, Uche Nnaji, was on Wednesday arrested by operatives of the Department of State Services at the Akanu Ibiam International Airport, Enugu.

According to Punch Newspaper, security sources said Nnaji was apprehended in the early hours of Wednesday while attempting to board a private jet bound for Abuja.

Sources also added that the arrest was carried out by the DSS at the request of the Independent Corrupt Practices and Other Related Offences Commission, which is investigating the former minister over some allegations.

The sources disclosed that following his arrest, Nnaji was handed over to the ICPC for further investigation.

“The DSS acted on the request of the ICPC. He was arrested at the Enugu airport while preparing to board a private jet to Abuja and has since been handed over to the commission,” one of the sources said.

The sources further revealed that the anti-graft agency had previously invited the former minister on several occasions in connection with petitions alleging irregularities in the management of the Ministry of Science and Technology during his tenure.

“They had extended several invitations to him following petitions relating to the management of the ministry. When he failed to honour the invitations, the ICPC sought the assistance of the DSS to effect his arrest,” another source disclosed.

Nnaji resigned as Minister of Science and Technology in October last year under circumstances surrounding his academic qualifications that generated public attention.

By Yusuf Danjuma Yunusa

The Central Bank of Nigeria, CBN, has revoked the operating licences of 46 microfinance banks nationwide, effective July 1, 2026, citing failure to meet regulatory and prudential requirements.

The apex bank announced the action through an official press statement released on its Instagram channel and confirmed by acting Director of Corporate Communications, Hakama Sidi-Ali. The CBN said the revocation was approved by Governor Olayemi Cardoso under Sections 12 and 13 of the Banks and Other Financial Institutions Act, BOFIA, 2020.

In the statement, the CBN listed five reasons for the closures: “insufficient assets, unauthorized closure, inactivity, failure to commence operations within twelve months, and inadequate capital.” It said the action was “necessary for safeguarding the financial system and protecting depositors” and reaffirmed the bank’s “ongoing commitment to a safe, sound, and resilient banking environment.”

A Hausa-language briefing shared by Ayau News also reported that the licences were cancelled “as a response to non-compliance with established banking standards, with the stated goal of strengthening the overall banking system and protecting depositors.”

The 46 closures are part of a broader regulatory cleanup that began in May 2023, when the CBN revoked licences of 179 microfinance banks and 4 primary mortgage banks. At the time, the CBN said the affected institutions were either “inactive, insolvent, failed to render returns, closed shop, or ceased to carry on the type of banking business for which they were licensed for more than six months in contravention of the Banks & Other Financial Institution Act, BOFIA, 2020”.

Under the Purchase and Assumption, P&A, model, 89 new institutions were subsequently licensed to acquire the assets and liabilities of defunct banks and have since commenced operations under new names. 0964

The Nigeria Deposit Insurance Corporation, NDIC, said it has commenced the final phase of liquidating 89 defunct MFBs and PMBs whose licences were revoked in 2023. 0964

“As part of the process of concluding the liquidation in line with the provisions of our enabling Act and other applicable laws, the NDIC, in its capacity as liquidator, will approach various judicial divisions of the Federal High Court to obtain orders dissolving the defunct banks and releasing the Corporation as liquidator,” the NDIC stated. 0964

The NDIC said the P&A arrangement has “ensured uninterrupted access to banking services in the affected communities, as acquiring institutions have fully taken over the operations of the defunct banks”. Lagos accounts for the highest number of banks undergoing wind-down with 27, followed by Osun with 7 and Anambra with 6. 0964

The CBN stressed that depositors of the closed banks remain covered by NDIC insurance. The resolution framework is designed to “bring closure to the resolution process while ensuring depositors’ interests remain protected, and the financial system remains stable.”

The CBN said the full list of the 46 affected microfinance banks is available in the PDF linked in its official statement. post-795963149691756479817

Source: CBN