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Naira Swap: Supreme Court has one major duty – Ubani

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Lagos lawyer, Monday Ubani, on Thursday, said the Supreme Court still had a duty to decide on whether its original jurisdiction was properly invoked in deciding on the naira swap.

Ubani said that although the Supreme Court possessed original jurisdiction in matters affecting the federal and state, there was, however, a need to make findings on its jurisdiction in this regard.

The apex court had, on Wednesday, granted an interim order, temporarily preventing a withdrawal of the old naira notes from circulation.

This temporary order is coming on the heels of a motion exparte filed by three states: Kogi, Kaduna and Zamfara.

The applicants had sought an order stopping the withdrawal of the notes pending the determination of the substantive suit.

The court presided over by a seven-man panel had granted the order as prayed and adjourned the case until Feb. 15 to hear the motion on notice.

Reacting to the decision of the apex court, Ubani noted that although the ruling had helped many Nigerians gain relief, there was, however, a need to set the records straight.

“Even before the expiration of usage of the old currencies, it was difficult to see the new notes in banks, and so these three state governors felt the need to approach the court in its original jurisdiction,” Ubani told NAN.

“Now, the original jurisdiction of a court can be invoked by the provisions of Section 212 of the 1999 constitution where there is a dispute between the federal and state government.

“When the original jurisdiction of the supreme court is invoked, it rightly requires a seven-man panel to adjudicate and no longer five.”

He added, “Looking at the law as it is, one of the things the federal government may do, is to file a preliminary objection on the grounds that it is not a legal dispute between the state and federal government.

“So, the court will have to determine that issue as raised, while the FG is also expected to put in a counter affidavit in response to the applicant’s motion.

“So, the supreme court will first have to decide on the issue of its jurisdiction, whether the instant suit is a legal dispute, which necessitated a resort to its original jurisdiction.”

Ubani also debunked the contention that the ruling did not affect the Central Bank of Nigeria, CBN, since it was not made a party to the suit.

“We hear the argument that since the CBN was not joined as a party, the ruling is not binding on it, and I say it is wrong.

“The naira swap or redesign is a policy of the federal government and so, if the Attorney General of the Federation, who is the chief legal officer of the government, has joined, it is binding on all institutions,” he said.

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Fidelity Bank celebrates Air Peace on commencement of Lagos-London route

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Fidelity Bank Plc has commended Air Peace’s performance on the commencement of the Lagos-London route.

The Managing Director, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe gave the commendation over the weekend in Lagos during a special event organised for the airline by the bank to celebrate Air Peace for the milestone of commencement of direct flights from Lagos to London.

According to Nneka Onyeali-Ikpe, who doubled as the host at the event, the airline has upheld the principles of financial discipline and good corporate governance since inception, while it has also been very loyal to the bank.

She expressed delight that the bank had the airline as one of its major clients since inception, stressing that the Bank was celebrating the airline’s milestone of launching direct flight service to London and other developments it would attain in the future.

The event, which held at the Civic Center, Victoria Island, Lagos, had in attendance several bank Managing Directors, stakeholders in the aviation sector, media personalities and well-wishers of both brands.

Speaking at the event, an elated Chairman, Air Peace, Dr. Allen Onyema observed that it was not rosy for the airline to attain its status and expressed gratitude to the flying public, the various aviation stakeholders, the media and the government for the continued support since it launched in 2014.

He specifically acknowledged the pivotal role played by the former Acting Director-General, Nigeria Civil Aviation Authority (NCAA), Engr. Ben Adeyileka in helping the airline secure its Airline Operator Certificate (AOC).

He further commended Fidelity Bank for the consistent support and stressed that the bank had contributed to the success story of the airline.

“I call it our journey with Fidelity Bank. I did not envisage this day would come when an indigenous institution would be celebrating another indigenous institution. Fidelity supports real business. They keep removing people from the streets of poverty. Let other banks emulate Fidelity,” he said.

He reiterated that Air Peace was set up primarily to create employment, not for profit making, stressing that the motivation behind the business was to empower Nigerians economically.

“Air Peace was not borne out of the intent to profiteer, but to create jobs. Air Peace was not established because I wanted more money but because of the conviction that running an airline would create massive job opportunities. That was why we went into aviation,” he remarked.

He restated the airline’s belief in the Nigerian project, maintaining that supporting the airline meant supporting the growth of the Nigerian economy.

Onyema further craved for the support of all Nigerians on the Lagos-London route, which it opened on March 30, 2024.

He explained that the airline needed to sustain the route, stressing that this could only be done through support from Nigerians.

He said, “For every penny you pay to Air Peace, you pay to sustain the jobs of thousands of Nigerians and support economic growth.

“Air Peace flies you from any of our domestic routes to London. So, you can fly from Yola to London via Lagos. From the local airport, you are taken to the international airport free of charge with a seamless luggage transfer.”

He pledged that the airline would continue to fully adhere to the standard of safety and lauded the management and staff of Air Peace for their efforts in realising the London dream.

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LASG partners with Naija Brand Chick for 2024 Trade Fair

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By Sodiq Adelakun

The Lagos State Ministry of Tourism, Arts, and Culture has announced a partnership with the organisers of the Naija Brand Chick (NBC) Trade Fair, to co-host the 2024 edition of the event.

This was revealed by the Special Adviser on Tourism, Arts, and Culture to Governor Babajide Sanwo-Olu, Mr. Idris Aregbe, on Thursday during a news conference at the Bagauda Kaltho Press Centre, Alausa, Ikeja.

The sixth edition of the NBC trade fair is scheduled to take place from June 14 to June 16, providing a unique platform for vendors and entrepreneurs to showcase their products, connect with a wider audience, and contribute to the state’s thriving economic landscape.

“I stand before you today with great pride and excitement as we announce a landmark collaboration that marks a significant departure from traditional governance approaches.

“It is my honour to unveil our value-driven partnership with Naija Brand Chick (NBC).

“This alliance is not just about cooperation; it’s about amplification. It’s about taking the Lagos Tourism NBC Trade Fair to unprecedented heights, where it serves as a pivotal catalyst for our entrepreneurial community.

“Under the visionary leadership of Mr Governor, Babajide Olushola Sanwo-Olu, and with the steadfast support of the Lagos State Ministry of Tourism, Arts, and Culture, we aim for nothing short of excellence.

“Our ambitious goal of N5billion in sales transactions speaks volumes about our commitment to driving economic growth and prosperity,” Aregbe said.

He said that the fair would be a convergence of diverse sectors, spanning lifestyle and home, fashion and personal care, services and innovation, arts and craft, adventure and recreation, travel and hospitality, as well as cultural and recreational attractions.

According to Aregbe, the partnership is a testament to the government’s unwavering dedication to inclusivity and diversity.

“The Lagos State Ministry of Tourism, Arts, and Culture stands firm in its mission to nurture our rich cultural heritage, promote artistic endeavours, and propel the tourism sector forward as a cornerstone of economic development.”

Founder of the NBC trade fair, Mrs Nelly Agboju, applauded the state government and the ministry for partnering with her brand.

“It is a great honour and I’m excited with the potential of this great partnership with Lagos State.

“We started the Naija Brand Chick trade fair in Lagos in 2018 and it is commendable that the government is identifying with our brand.

“This will enable every business owner and entrepreneur to take advantage of this trade fair, there’s money to be made, visibility for your business and so much networking.

“With this partnership, this edition is going to be the biggest and we are looking forward to its unprecedented success,” she said.

In the same vein, Actress Toyin Abraham-Ajeyemi praised both the state government and the organisers of the fair for their unwavering backing of small and medium-sized enterprises.

She encouraged entrepreneurs to seize the opportunity, she urged them to make the most of the trade fair.

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Lagos has not increased minimum wage to N70,000 — Commissioner clarifies

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The Lagos state Commissioner for Information and Strategy, Mr Gbenga Omotoso has clarified that the state has not increased its minimum wage for workers to N70,000.

In a statement issued on Thursday, Omotoso noted that the Governor was erroneously quoted as saying that a new minimum wage of N70,000 had been announced.

Providing clarity, Omotoso said, “The Lagos State Government has not increased the minimum wage, contrary to the impression in some media reports, which emanated from the unveiling of Eko Cares – the umbrella for the various interventions to protect the poor against the effects of the prevailing economic hardship. The event was held at the Governor’s Office in Ikeja on Wednesday.”

“Mr. Governor never said so. He said since January, civil servants had been earning the N35,000 wage award directed by the Federal Government.  In other words, those earning N35,000 now earn N70,000. He did not announce a new minimum wage of N70,000.”

He quoted the Governor as saying, “I know that by the grace of God very very soon we’ll see a new minimum wage that will be approved for the Federal Government and for the state government. The civil servants and all public officers know that since January we have continued to pay the minimum wage allowance of N35,000 over and above what they were earning before.

“People that were earning a minimum of N35,000 to N40,000 before, they are now earning over N70,000. So, it’s important for people to know and for us to lay this thing very clearly. This government has doubled up and has not left its citizens on their own…”

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