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Senate Confirms Eight More Justices of Supreme Court

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By Martin Paul, Abuja

Eight Justices of the Court of Appeal have been confirmed Justices of the Supreme Court of Nigeria by the Senate sequel to the report on the screening of the nominees.

The Senate Committee, led by Senator Opeyemi Bamidele, All Progressives Congress (APC Ekiti Central) Committee on Judiciary, Human Rights and Legal Matters, screened the nominees for the appointments.



The new intake and their geo-political zones are Hon.
Justice Lawal Garba, (North West); Hon. Justice Helen M. Ogunwumiju, (South West); Hon. Justice Addu Aboki, (North West); Hon. Justice I. M. M. Saulawa, (North West); Hon. Justice Adamu Jauro, (North East); Hon.
Justice Samuel C. Oseji, (South South); Hon. Justice Tijjani Abubakar, (North East) and Hon. Justice Emmanuel A. Agim, (South South).

Presenting the report, Senator Bamidele said: “we wish to observe that these appointments satisfy the constitutional provision of section 231 (3) which stipulates a minimum of fifteen (15) years post call experience to qualify for appointment as a Justice of the Supreme Court of Nigeria. 

“Also, by virtue of paragraph 13 (a) (ii), Third Schedule to the Constitution, the Federal Judicial Service Commission is empowered to advise the National Judicial Council in nominating persons for appointment as Justices of the Supreme Court of Nigeria, and the Federal Judicial Service Commission indeed, kick-started the process as required by the above constitutional requirement, before the nominees were forwarded to the National Judicial Council for recommendation to Mr President for the appointment.

“Currently, the composition of the Supreme Court of Nigeria as per geopolitical zones, which in the Committee’s view, is a fair reflection of the Federal Character Principle, as enshrined in Section 14 (3) of the 1999 Constitution, as amended, is as follows: No. of Present Justices, No. of Justices upon Confirmation : North-East, 2; North-East, 4 (Including the Hon. CJN); North-West, 1; North-West, 4; North-Central, 2; North-Central, 2; South-East, 3; South-East, 3; South-West, 3; South-West, 4; South-South, 1 South-South, 3; Total is 12=20.

Bamidele said the committee noted: “That the appointment of the nominees, satisfied the requirement of Sections 230 (2) and 231 (1) and (2) and (3) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), which makes provisions for the appointment of Justices of the Supreme Court of Nigeria; and the Senate Standing Orders 2015, as amended.

“That the nominees possess the requisite qualifications, integrity, leadership qualities and comportment to discharge judicial responsibilities as Honourable Justices of the Supreme Court of Nigeria.

 “That upon confirmation of the appointment of the nominees by the Senate, all the Geo-political Zones will be represented by 3 or 4 Justices, as the case may be, except the North-Central Zone, which will maintain its current 2 Justices on the Bench of the Supreme Court of Nigeria.

“That the reason North-Central zone has 2 Justices unlike other zones, as indicated in paragraph 3 above, can be attributed to the fact that during the selection process, the nomination from the zone was stood down by the selection Committee for further review of the nomination by the Federal Judicial Service Commission.

 “Those necessary steps are being taken to meet the full complement of the maximum number of Justices of the Supreme Court of Nigerian, in line with the constitutional provision. 

In this regard, one more appointment from the North-Central Zone, which is in the offing, will complete the maximum number of Justices and balance the representation, across the geo-political zones.

Bamidele further disclosed that: “That the appointment of Eight (8) Justices of the Supreme Court of Nigeria at one stretch, is a bold step taken by the President to further strengthen the Judiciary to meet up with the challenges of the 21st Century, being the first time ever that the country will be having 20 Justices on the Bench of the Supreme Court of Nigeria,

 “That there is no petition against the nominations of any of the nominees; the nominees having been widely supported and commended by a cross section of Nigerians on their nominations by Mr President, as Honourable Justices of the Supreme Court of Nigeria.

“That there are no adverse reports against the nominees, as record checks and other forms of investigations by security agencies, did not reveal any negative trace against them.

“That the Committee is satisfied about their qualifications, experience, suitability, competence and integrity to assume the positions of Justices of the Supreme Court of Nigeria; and that the nominees are fit and proper persons for appointment as Honourable Justices of the Supreme Court of Nigeria”.

President of the Senate, Senator Ahmad Lawan had penultimate week, read a letter dated August 31, from President Muhammadu Buhari, seeking the screening and subsequent confirmation of the Justices.

Buhari in the letter said that the request for the confirmation of the eight Justices to the Supreme Court was in consonance with the provisions of section 231(2) of the 1999 Constitution and the advice of the National Judicial Council.

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Federation Account Garners N7trn Revenue in Six Months – RMAFC

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By Tony Obiechina, Abuja

Revenue Mobilization Allocation and Fiscal Commission (RMAFC) yesterday disclosed that a total sum of N7.31 trillion accrued to the Federation Account between July and Dec. 2023.This was captured in the monthly report to the Federation Account Allocation Committee (FAAC) by the Central Bank of Nigeria (CBN) under the caption “CBN Federation Account Component Statement”.

This amount is higher than the sum of N5.
244 trillion realised in the first half of year 2023, according to a statement signed by the RMAFC Chairman, Mr. Mohammed Bello Shehu and made available to the media in Abuja.The chairman disclosed that out of the total gross revenue inflows into the Federation Account, the sum of N1,692 trillion was transferred to the Exchange Gain Differential Account, thus leaving a balance of N5.
475 billion for distribution.He added that from the amount stated above, the sum of N3.26 trillion was deducted as approved statutory deductions by the OAGF, leaving a net balance of N2.2 trillion for distribution to the three tiers of government within the period under review.The chairman explained that out of the N3.267 trillion statutory deduction indicated above, N2.251 trillion was transferred to the Non-Oil Excess Account as savings, thus leaving a net statutory deduction of N1.016 trillion with further augmentations for sharing among the three tiers of government received from some “reserve accounts.”The statement added that within the period under review, the net sum of N4 trillion was shared with the three tiers of government, an amount higher than the total sum of N3.06 trillion.In terms of percentages, the chairman stressed that “the statutory deduction in the second half of the year constituted 44.12 percent of the total gross inflow into the Federation Account in the six-month period, which was higher than the first half deductions of 42.31 percent (inclusive of transfer to the Non-Oil Excess Account).”On remittances by Revenue Generating Agencies (RGAs), the RMAFC chairman disclosed that out of the total gross revenue inflows into the Federation Account, the Nigerian National Petroleum Company Limited (NNPCL) remitted N874 64 billion in the second half of the year as against the zero-remittance made in the first half of the year.Similarly, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted the sum of N1.56 trillion while the Federal Inland Revenue Service (FIRS) remitted N3.65 trillion

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PDP NEC Meeting Ends with Damagum as Acting Chairman

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By Johnson Eyiangho, Abuja

Peoples Democratic Party (PDP) 98th National Executive Committee (NEC) meeting yesterday ended without a word on the much talked-about replacement of the party’s Acting National Chairman, Amb. Iliya Damagum, an indication that he will continue to function in that position.

In an interview with newsmen after the meeting, the PDP spokesman, Hon.
Debo Ologunagba said for now, the party is focusing on issues of reconciliation and its stability, adding that the issue of the Acting National Chairmanship had been “deferred to the next NEC meeting, which is tentatively scheduled for August 15, 2024″.
Also speaking, the Governor of Bauchi State and Chairman of the PDP Governors’ Forum, Bala Mohammed said the party is united as there was no dissension and rancour.
In his words, “It was planned that the party would have an implosion. PDP is more than that. We have gone beyond all that. This party is united, guided by experience and constitutionality.”There were a lot of permutations and mischievous thinking outside there. But we looked at all the issues and we worked along our guidelines and constitution.“There is no problem or dissension and problem among members,” Mohammed said.The well attended NEC meeting was held amid tight security as police and personnel of the Department of State Services (DSS) condoned off roads leading to the PDP Secretariat, Abuja and diverted vehicular traffic.It will be recalled that the PDP National Working Committee (NWC) had passed a vote of confidence on Damagum during its meeting on Tuesday.A communique issued at the end of the three hours meeting commended all the organs of the party for their collective resilience, steadfastness and commitment towards the unity, stability and sustenance the party despite daunting challenges.The communique commended the efforts of the NWC in its effort towards rebranding the party and urged all party members to continue to work together for the success of the PDP for the benefit of Nigerians and sustenance of democracy in our country.

The document which was read by the PDP National Publicity Secretary, Ologunagba, however, expressed concern over what it described as the ill-implemented policies of the APC administration, leading to worsening insecurity, harrowing economic hardship, soaring unemployment rate, high cost of food and other necessities of life with pervading misery and despondency across the country.”NEC expresses serious apprehension over the spate of acts of terrorism and violence including the escalated cases of mindless killings, mass abduction of innocent Nigerians and marauding of communities in various parts of the country.”NEC condemns the insensitivity, nonchalance, incompetence and arrogance in failure of the APC administration which continues to conduct itself in a manner that shows that it has no iota of interest or commitment towards the wellbeing of Nigerians.”NEC also condemns the creeping totalitarianism and tendencies towards a One-Party State which is inimical to the peace, stability and corporate existence of our nation as well as the development of Democracy and good governance in the country,” it said.The communique demanded that President Bola Tinubu should urgently convene a special National Security Council meeting to proffer a holistic solution and measures to curb the disturbing insecurity with its attendant negative consequences on the nation.It also called on the president to “immediately rejig his Economic Team to bring in persons of proven integrity and competence without bias and vested interest to assist in repositioning the economy.”NEC further demands that the Federal Government should review all policies and programmes which are stifling the economy with suffocating effect on the lives of citizens; including the increase in price of fuel without cushioning measures, hike in electricity tariff, increased taxation and implementation of adverse fiscal policies,” the communique added.Present at the meeting were FCT Minister Nyesom Wike, former Vice President Atiku Abubakar and many other past and presently elected members of the PDP.

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CBN Reduces Banks’ Lending Rate to 50 Percent

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By Tony Obiechina, Abuja

Central Bank of Nigeria (CBN) yesterday announced a review of the loan-to-deposit ratio (LDR) for banks from 65 percent to 50 percent to align with the current monetary tightening.

LDR is used to assess a bank’s liquidity by comparing its total loans to its total deposits.

An increase in the loan-to-deposit ratio allows banks to expand their credits to businesses and individuals, however, a decline in LDR reduces their ability to loan customers from depositors’ funds.

CBN disclosed the increase in a circular titled “Re: Regulatory Measures to Improve Lending to the Sector of the Nigerian Economy”, signed by Adetona Adedeji, CBN Acting Director, Banking Supervision Department.

“Following a shift in the b  ank’s policy stance towards a more contractionary approach, it is imperative to review the loan-to-deposit ratio (LDR) policy to align with the current monetary tightening by the CBN,” the apex bank said.

“Accordingly, the CBN has decided to reduce the LDR by 15 percentage points to 50%, in a similar proportion to the increase in the CRR rate for banks.

“All DMBs are required to maintain this level and are further advised that average daily figures shall continue to be applied to assess compliance.”At the last monetary policy committee (MPC) meeting on March 26, the CBN retained the CRR at 45 percent and the liquidity rate at 30 percent.

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