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BREAKING: eNaira Official Platform Goes Live

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JomogNews Nigeria reports that the official website of the upcoming Central Bank of Nigeria’s (CBN) digital currency, the eNaira, has gone live, exactly one week to the planned launch of the initiative.

Remarkably, 24-hours after the website went live, it has recorded over one million hits, according to analytics monitored by THISDAY.

The development shows a reflection of the level of interest in the proposed digital currency.

The website promises easier financial transactions for users of eNaira, offers opportunity for peer-to-peer payments which allows users to send money to one another through a linked bank account or card; allows customers to move money from their bank account to their eNaira wallet with ease; can monitor their eNaira wallet, check balances and view transaction history; and make in-store payment using their eNaira wallet by scanning QR codes.

In addition, customers are allowed to scan the QR Code on the website to get started.

CBN Governor, Mr. Godwin Emefiele, while speaking to a gathering of foreign investors in New York, recently, had told his audience that because of activities surrounding the country’s Independence celebration on October 1, the earlier planned launch of the eNaira on same date would likely be rescheduled to October 4, 2021.

“The central bank would not want the event to take the shine away from the Independence celebration,” he said.

“We are going to be the first country in Africa to launch a digital currency. It is a novel idea because we think it will facilitate trade, Nigeria being the biggest economy in Africa, this will set the tone to tell Africa that we are ready to lead and we would indeed lead in trade and we would make sure that happens.

“Between all central bankers in ECOWAS, we are already working on certain collaboration to make trade, payment and banking system integrate in such a way to set example on the African Continental Free Trade Area (AfCFTA),” he added.

In line with global trend, the CBN recently took a major step towards the launch of its digital currency with its formal announcement of its engagement of global fintech company, Bitt Inc. as its technical partner for the project.

To choose the technical partner, the CBN went through a rigorous vendor selection process in line with the Public Procurement Act, conducted by seven departmental directors and a Deputy Governor whereby several companies were evaluated.

The evaluation was based on the following criteria: technology ownership and control; implementation timeline; efficiency, ease of adoption; support for anti-money laundering and combating the financing of terrorism (AML/CFT); platform security; interoperability; implementation experience.

Emefiele expressed optimism that the eNaira, would bring about increased cross-border trade, accelerate financial inclusion and lead to cheaper and faster remittance inflow. He said the digital money would lead to easier targeted social interventions, as well as improvement in monetary policy effectiveness, payment systems efficiency, and tax collection.

According to him, after its unveiling, Nigerians should be able to download the eNaira app from either Google plays store or Apple app store, on board themselves and fund their eNaira wallet using their bank account or with cash at a registered agent location.

“If you are a bank customer and you have say N10 million in your bank account, for your comfort of spending and making purchase, you can tell the bank to load N2 million out of your N10 million into your wallet.

“So, your bank balance in physical cash drops to N8 million, while your e-wallet carries N2 million. With that you can make purchases both within and across the country.

“There are so many variance of the eNaira. But this is where we would start because we are not going to pretend that there are not risks in opening your system up. We would look at the various products, determine the risk, determine the best way to mitigate the risk before we now open it up more and more,” Emefiele added.

Also shedding more light on Bitts, he said, “we chose them as a partner. In some other climes where they are, they have their software and they earn their money. But we chose that they would establish their company in Nigeria.

“The CBN will own substantially stake in that company. It is a company that will be established in Nigeria and majority holding will be the CBN,” he added.

On his part, the CBN’s Director, Corporate Communications Department, Mr. Osita Nwanisobi, explained that the eNaira project had been a long and thorough process for the apex bank following its resolve in 2017, to digitise the local currency after extensive research and exploration.

Meanwhile, China’s central bank last weekend announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin.

“Virtual currency-related business activities are illegal financial activities,” the BBC quoted People’s Bank of China to have said, warning it “seriously endangers the safety of people’s assets”. China is one of the world’s largest crypto-currency markets. Fluctuations there often impact the global price of crypto-currencies.

The price of Bitcoin fell by more than $2,000 (£1,460) in the wake of the Chinese announcement.

It was the latest in China’s national crackdown on what it sees as a volatile, speculative investment at best – and a way to launder money at worst. Trading crypto-currency had officially been banned in China since 2019, but had continued online through foreign exchanges. However, there has been a significant crackdown this year.

In May, Chinese state intuitions warned buyers they would have no protection for continuing to trade Bitcoin and other currencies online, as government officials vowed to increase pressure on the industry.

In June, it told banks and payment platforms to stop facilitating transactions and issued bans on “mining” the currencies – the trade of using powerful computers to make new coins.

 

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Ex-Senator Iyabo Obasanjo Joins All Progressives Congress

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Prof. Iyabo Obasanjo, daughter of former President Olusegun Obasanjo, has reportedly registered as a member of the All Progressives Congress in Ogun State, according to a former chairman of Abeokuta South Local Government.

It was gathered that the former senator of Ogun Central completed her e-registration on Tuesday at Ibogun, Ward 11, Ifo Local Government Area of the state.

Confirming the development on Wednesday, Biodun Ajayi, former Chairman of Abeokuta South Local Government and a close ally of Prof. Obasanjo, told Vanguard that the registration was successfully concluded.

Ajayi, who currently serves as a Commissioner with the State Universal Basic Education Board, SUBEB, said: “I can confirm to you that Prof. Iyabo Obasanjo completed her online registration as a member of our great party, the APC, on Tuesday at Ibogun Ward 11 in Ifo Local Government.”

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BREAKING: Supreme Court Upholds Acquittal Of Hamza Al-Mustapha In Kudirat Abiola Murder Case

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A five-man panel of the Supreme Court, headed by Justice Uwani Aba-Aji has dismissed the trial of Major Hamza Al-Mustapha (rtd) concerning the murder of Alhaja Kudirat Abiola.

 

Kudirat Abiola was the wife of the late businessman cum politician, Chief MKO Abiola, the presumed winner of the June 12, 1993 Presidential Election that was annulled by former President Ibrahim Babangida.

 

Mrs Kudirat Abiola was, however, murdered in Lagos in the nationwide crisis that followed the annulment and in the course of her persistent struggle to get the annulment reversed by the military.

 

The trial of Al-Mustapha on the murder charges brought against him by the Lagos State government was, however, put to rest on Thursday by a 5-man panel of Justices of the Supreme Court headed by Justice Uwani Aba-Aji.

 

At the proceedings where the Lagos State was slated to re-open the trial, no legal representation was made while no process was filed since 2014 when order to re-open the case was granted in favour of the state government.

 

When the matter was called, Paul Daudu, a Senior Advocate of Nigeria stood for Al-Mustapha and informed the Justices that Lagos has not taken any step to implement the order granted it in 2014 to re-open the trial.

 

He said that not even a notice of appeal was filed by Lagos as the appellant to demonstrate its seriousness to prosecute the trial.

 

The senior lawyer informed the Apex Court that in 2014 when order to re-open the trial was granted, Lagos was issued a 30 day ultimatum to file its notice of appeal.

 

Daudu explained that more than nine years after, nothing was done to comply with the order.

 

He therefore urged the Court to hold that the appellant has abandoned the case and should be dismissed in its entirety.

 

Justice Uwani Aba-Aji, who presided over the matter sought to know if Lagos was served with hearing notice, the question that was answered in the affirmative by the Registrar of the Court.

 

In a brief ruling, the Supreme Court in a unanimous decision agreed that Lagos has lost interest in the matter and consequently abandoned it.

 

Justice Aba-Aji held that nine years was long enough for the appellant to have filed notice of appeal and the appeal in the matter.

 

Besides, the Court expressed disgust that no legal representation was made by the state government while no information was made available to the Court and the respondent.

 

Consequently, the matter marked SC/CR/45/2014 was dismissed.

 

Another matter by the Lagos governor marked SC/CR/6/2014 was also dismissed on the same ground.

 

The Supreme Court had in 2014 in a brief ruling on the application by Lagos State for permission to re-open the case out of time, granted the request for the Lagos to challenge the Court of Appeal decision of July 12, 2013 that discharged and acquitted Al-Mustapha from the murder case.

 

The then Acting Chief Justice of Nigeria (CJN) Justice Walter Samuel Nkanu Onnoghen in the ruling of a panel of seven Justices ordered Lagos State to file its notice of appeal within 30 days.

 

The decision of Justice Onnoghen on the Lagos application argued by Osunsanya Oluwayemisi, a Senior State Counsel in the Lagos Ministry of Justice followed the consent of Al-Mustapha’s lawyer, Mr. Joseph Dauda SAN, not to oppose the application.

 

The acting CJN had said that by the decision of the apex court, the time for Lagos to appeal against the findings of the Court of Appeal on the celebrated murder case has been extended from July 12, 2013 when the Court of Appeal judgment was delivered till January 7, 2014.

 

By the granted permission in 2014, the coast became cleared for the Lagos to challenge the no guilty verdict granted in favour of the military officer by the Court of Appeal in 2013

 

In the then move to re-open the case, the Lagos State government had sought to file a notice of appeal out of the time at the Supreme Court asking for the permission of the court to allow it to challenge the Appeal Court findings of Justices Amina Adamu Augie, Rita Nosakhare Pemu and Fatimo Omoro Akinbami on ground of mis-carriage of Justice in the matter.

 

The state had in the application prayed the apex court to allow it to exercise its constitutional right to test the validity and correctness of the decision of the Appeal Court.

 

It claimed that it wants to raise its ground of appeal on arguable legal and factual issues especially the question of whether there is any direct or circumstantial evidence establishing the guilt passed on Al-Mustapha in the murder case.

 

It justified its lateness in filing the appeal on the ground that it set up two legal teams to review the circumstances of the case and the verdict of the Court of Appeal.

 

The government said that it took a long time for the two legal teams to present their findings and recommended that an appeal case can be filed and sustained.

 

The Lagos State Government said that it will ask the Supreme Court to set aside the judgment of the Court of Appeal which on July 12, 2013 discharged and acquitted Major Hamza Al-Mustapha, in the murder case of late Alhaja Kudirat Abiola.

 

In place of the Appeal Court decision, the state government said that it will plead with the apex court to uphold and restore the death sentence by hanging placed on the former Chief Security Officer (CSO) to the former dictator and late Head of State, General Sani Abacha by a Lagos High Court on January 30, 2012.

 

Al-Mustapha, Mohammed Abacha and one Lateef Shofolahan were arraigned before a Lagos high court on two-count criminal charge of conspiracy to commit murder and the murder of the late Alhaja Kudirat Abiola on June 4, 1996 in Lagos State.

 

In the judgment of the high court delivered on January 30, 2012 by Justice Moji Dada, the accused persons were found culpable as charged and sentenced them to death by hanging.

 

However at the Court of Appeal approached by Al-Mustapha on April 27, 2012 for the review of the trial and the conviction, the 3-member appellate court Justices in a unanimous judgment of July 12, 2013 voided the decision of the high court, set it aside and discharged and acquitted the accused on the ground that the evidence against them was not strong enough to warrant the death sentence.

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Rivers Assembly: Minority Leader, Three Others Rejoin Impeachment Push Against Fubara

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Four members of the Rivers State House of Assembly have reversed their earlier position and renewed their backing for the impeachment proceedings against Governor Siminalayi Fubara and his deputy, Ngozi Odu.

 

The lawmakers announced their decision at a press conference held on Friday in Port Harcourt, the state capital, where they declared continued support for the impeachment process initiated by the assembly.

 

They accused the governor of failing to show remorse over the allegations levelled against him, insisting that their renewed stance was based on concerns over his conduct and response to the issues raised.

 

The legislators said their decision to recommit to the process followed further consultations and a review of developments surrounding the impeachment move.

 

Details of the impeachment process and the specific allegations against the governor were not disclosed at the briefing, as the lawmakers said further information would be made public in due course.

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